Australia, New Zealand Stocks: AMP, Flight Centre, National Australia Bank
Australia’s S&P/ASX 200 Index rose 0.2 percent to 4,925.80 at the close of trading in Sydney. New Zealand’s NZX 50 Index advanced 0.3 percent to 3,293.11 in Wellington.
The following were among the most active shares in the market today. Stock symbols are in parentheses after company names.
AMP Ltd. (AMP AU) fell 1.7 percent to A$6.29. Australia’s second-largest asset manager may bid again for Axa Asia Pacific Holdings Ltd. after regulators blocked a competing A$13.3 billion ($12.2 billion) offer from National Australia Bank Ltd. (NAB AU).
National Australia climbed 2.7 percent to A$28.83. AXA shares dropped 3.3 percent to A$6.13, after also being downgraded to “underperform” from “neutral” at Credit Suisse Group AG.
Flight Centre Ltd. (FLT AU) fell 3.8 percent to A$20.01. Australia’s largest travel agency was downgraded to “neutral” from “outperform” at Credit Suisse and to “neutral” from “buy” at UBS.
Harvey Norman Holdings Ltd. (HVN AU), Australia’s biggest furniture and electronics retailer, slumped 5.3 percent to A$3.38 after posting third-quarter sales that missed some analyst estimates.
Wotif.com Holdings Ltd. (WTF AU), which operates hotel booking Web sites, plunged 10 percent to A$6.82 after an earnings forecast. The company said it expects profit after tax for the 2010 financial year to be in the range of A$52 million to A$56 million.
Pike River Coal Co. (PRC NZ), which operates a mine on New Zealand’s South Island, advanced 1.9 percent to NZ$1.10 after saying it will raise NZ$50 million from a share placement, followed by a rights offer.
To contact the reporters for this story: Shani Raja in Sydney at firstname.lastname@example.org.