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Australian, N.Z., Stocks: Boral, Bradken, Lynas, Cavalier

April 20 (Bloomberg) -- Australia’s S&P/ASX 200 Index advanced 0.1 percent to 4,366.50 at the close of trading in Sydney. New Zealand’s NZX 50 Index slid 0.3 percent to 3,516.23 in Wellington.

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

Boral Ltd. (BLD AU) dropped 2.9 percent to A$3.70 to the lowest since January after the construction manufacturer reported a A$22 million first quarter profit that missed forecasts. The company lowered its first-half profit guidance.

Bradken Ltd. (BKN AU) slumped 11 percent, its biggest drop since February 2009 and the largest decline on the benchmark, to A$7.55 after the industrial products supplier cut its earnings forecast.

Lynas Corp. (LYC AU) fell 2.2 percent to A$1.12 as the mining company said it’s been “very seriously” affected by delays in receiving a refining license in Malaysia, where the first phase of the world’s biggest rare-earths plant is nearing completion.

Pharmaxis Ltd. (PXS AU) gained 6.1 percent to A$1.30 after winning approval to market Bronchitol, a treatment for cystic fibrosis, in Europe.

Thankral Holdings Group (THG AU) rallied 28 percent to 74.5 cents after Brookfield Asset Management Inc. offered to buy the property developer and manager in a bid valuing the company at about A$410 million ($425 million).

New Zealand companies:

Cavalier Corp. (CAV NZ) slumped 11 percent to NZ$1.89 to the lowest since July 2009 after saying market conditions for the carpet business remain “very soft” and costs may result in a loss for the year of as much as NZ$3 million.

To contact the reporter on this story: Adam Haigh in Sydney at ahaigh1@bloomberg.net

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

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