Australia, N.Z. Stocks: Hastings Diversified, Kagara, Downer

Dec. 14 (Bloomberg) -- Australia’s S&P/ASX 200 Index declined 0.1 percent to 4,190.50 at the close of trading in Sydney. New Zealand’s NZX 50 Index decreased 0.3 percent to 3,284.14 in Wellington.

The following were among the most active shares in the market. Stock symbols are in parentheses after company names.

Bank of Queensland Ltd. (BOQ AU) fell 2.8 percent to A$7.62 after a report in the Australian Financial Review’s Street Talk column that France’s BRED Banque Populaire may sell a stake in the lender.

Downer EDI Ltd. (DOW AU) climbed 4.6 percent to A$3.22 after the Australian contractor agreed to sell its CPG Asia unit for A$147 million ($146 million) to China Architecture Design & Research Group.

Hastings Diversified Utilities Fund (HDF AU) advanced 7.3 percent to A$1.90 after shareholder APA Group (APA AU), a gas infrastructure company, offered A$841 million in cash and shares to buy the rest of Hastings.

Independence Group NL (IGO AU) dropped 8.1 percent to A$4 after the miner sold shares to help raise A$118 million for development of the Tropicana gold project in Western Australia.

Kagara Ltd. (KZL AU) slipped 12 percent to 30 Australian cents after selling A$25 million in stock to complete the acquisition of the Einasleigh copper project.

To contact the reporter on this story: Ben Sharples in Melbourne at

To contact the editor responsible for this story: Nick Gentle at