Australia’s S&P/ASX 200 Index rose 0.3 percent to 4,700.30 at the 4:10 p.m. close of trading in Sydney. New Zealand’s NZX 50 Index slipped 0.4 percent to 3,315.06 at the 5 p.m. close in Wellington.
The following were among the most active shares in the market today. Stock symbols are in parentheses after company names.
Australia & New Zealand Banking Group Ltd. (ANZ AU) climbed 0.6 percent to A$23.22. Lone Star Funds plans to sell its 51 percent stake in Korea Exchange Bank to Hana Financial Group Inc., the Wall Street Journal reported, citing an unidentified person it said was close to the deal. The sale, worth about $3.8 billion, may end ANZ’s bid for the stake, the newspaper said.
BHP Billiton Ltd. (BHP AU), the world’s largest mining company, gained 0.7 to A$44.45. BHP may raise its dividend in the first half after scrapping a $40 billion takeover bid for Potash Corp. of Saskatchewan Inc., Goldman Sachs & Partners Australia Pty said. Separately, the miner was reinitiated with a “conviction buy” recommendation at Goldman Sachs Group Inc.
Commonwealth Bank of Australia (CBA AU) rose 2.1 percent to A$49.89 after the lender had its stock rating raised to “buy” from “hold” by analysts at Goldman Sachs & Partners Australia Pty.
Imdex Ltd. (IMD AU) advanced 4.4 percent to A$1.435 after the provider of mining and drilling services had its stock rating raised to “buy” from “hold” by analysts at Goldman Sachs & Partners Australia Pty.
James Hardie Industries SE (JHX AU) lost 2 percent to A$5.54. The biggest seller of home siding in the U.S. was downgraded to “underperform” from “neutral” at Credit Suisse Group AG.