Dec. 29 (Bloomberg) -- Australia’s S&P/ASX 200 Index was little changed at 4,775.20 at the 4:10 p.m. close of trading in Sydney. New Zealand’s NZX 50 Index lost 0.1 percent to 3,325.62 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.
Gold producers: Gold futures for February delivery advanced as much as 1.8 percent in New York yesterday.
Newcrest Mining Ltd. (NCM AU), Australia’s largest gold producer, gained 2.5 percent to A$40.80. Avoca Resources Ltd. (AVO AU), an Australian gold producer, rose 4 percent to A$3.36.
Adelaide Brighton Ltd. (ABC AU) rose 3.1 percent to A$3.30. The Australian producer of construction materials was raised to “buy” from “hold” at Deutsche Bank AG.
ING Industrial Fund (IIF AU) gained 2.9 percent to 52.5 Australian cents. The board of ING Management Ltd. will recommend shareholders of ING Industrial accept a takeover offer from a Goodman Group Ltd. (GMG AU)-led consortium. Goodman’s shares were little changed.
Lynas Corp. (LYC AU), a rare-earth developer, jumped 11 percent to A$1.795 after China’s Ministry of Commerce cut its rare-earth export quota for the first half of 2011. Arafura Resources Ltd. (ARU AU) gained 11 percent to A$1.355.
Tower Australia Group Ltd. (TAL AU) leapt 42 percent to A$3.87 after Japan’s Dai-ichi Life Insurance Co. agreed to take over the insurer.
To contact the reporter on this story: Shani Raja in Sydney at email@example.com.
To contact the editor responsible for this story: Nick Gentle at firstname.lastname@example.org.