Australia, N.Z. Stocks: BHP, Alesco, Boart Longyear, Kingsgate
The following were among the most active shares in the market today. Stock symbols are in parentheses after company names.
Mining shares: The London Metal Index, a measure of six metals including copper and zinc, gained 2.4 percent yesterday.
Kingsgate Consolidated Ltd. (KCN) soared 9.9 percent to A$9.55. The gold mining and exploration company was raised to “outperform” from “sector perform” at RBC Capital.
Oil companies: Crude oil rose by the most in almost two weeks in New York to $74.38 a barrel yesterday as reports signaled a strengthening Chinese economy and the dollar retreated against major currencies.
Woodside Petroleum Ltd. (WPL) , Australia’s second-largest oil and gas producer, increased 2.4 percent to A$43.91. Rival Santos Ltd. (STO AU) advanced 2.4 percent to A$13.09.
AWE Ltd. (AWE) jumped 4.9 percent to A$2.13. The Australian oil and gas producer and an operator of the Twui SW-2 well, located in New Zealand’s offshore Taranaki Basin, said oil shows were encountered.
Alesco Corp Ltd. (ALS AU) rose 6 percent to A$2.83. The maker of building materials and home products was raised to “outperform” from “neutral” by Credit Suisse AG equity analyst Rohan Gallagher.
Caltex Australia Ltd. (CTX) jumped 4.9 percent to A$10.76. The country’s biggest oil refiner was raised to “buy” from “neutral” by UBS AG equity analyst Gordon Ramsay.
Wotif.com Holdings Ltd. (WTF) gained 4.6 percent to A$5.22. The accommodation website was upgraded to “outperform” from “neutral” by Credit Suisse equity analyst Neil Watson.
Oil companies: Pan Pacific Petroleum NL (PPP) , an Australian explorer, surged 12 percent to 28 New Zealand cents. New Zealand Oil & Gas Ltd. (NZO) , the nation’s biggest publicly traded explorer and a partner in the nation’s Tui oil field, jumped 3.7 percent to NZ$1.41. The companies said oil shows were encountered in the Tui SW-2 well.