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Australian, N.Z. Stocks: Bradken, Cochlear, Gunns, Hallenstein

June 1 (Bloomberg) -- Australia’s S&P/ASX 200 Index was little changed at 4,707.30 at the 4:10 p.m. close of trading in Sydney. New Zealand’s NZX 50 Index gained 0.1 percent to 3,551.54 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.

Bradken Ltd. (BKN AU) dropped 5.2 percent to A$8.20. The stock was downgraded to “neutral” from “outperform” at Credit Suisse Group AG and to “hold” from “buy” at Deutsche Bank AG.

Cochlear Ltd. (COH AU) fell 1.9 percent to A$78.23 after the maker of the world’s best-selling hearing implant was downgraded to “sell” from “hold” at Deutsche Bank AG.

Gloucester Coal Ltd. (GCL AU) gained 0.7 percent to A$9.02 after the coal producer was raised to “outperform” from “neutral” at Credit Suisse Group AG.

Goodman Fielder Ltd. (GFF AU) rose 2.9 percent to A$1.055. Australia’s largest baker named Chris Delaney as the company’s new chief executive officer. Delaney was earlier President (Asia Pacific) of the Campbell Soup Co.

Gunns Ltd. (GNS AU) jumped 27 percent to 42 Australian cents after Australia’s biggest woodchip exporter affirmed its full-year profit guidance and said it’s in compliance with all its banking covenants.

New Zealand:

Hallenstein Glasson Holdings Ltd. (HLG NZ) sank 2.5 percent to NZ$3.83 after the New Zealand-based clothing retailer was cut to “underperform” at Macquarie Research.

Methven Ltd. (MVN NZ) gained 2.1 percent to NZ$1.47 after the New Zealand distributor of taps and showerheads was raised to “neutral” from “underperform” at Macquarie Research.

To contact the reporter on this story: Shani Raja in Sydney at sraja4@bloomberg.net.

To contact the editors responsible for this story: Nick Gentle at ngentle2@bloomberg.net.

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