Australian, N.Z. Stocks: Caltex, CSL, Paperlinx, Guinness Peat
The following were among the most active shares in the market today. Stock symbols are in parentheses after company names.
Caltex Australia Ltd. (CTX AU), the nation’s biggest oil refiner, slipped 1.3 percent to A$12.44. The company had its stock rating cut to “underperform” from “neutral” at Credit Suisse Group AG.
CSL Ltd. (CSL AU), the world’s second-biggest maker of treatments derived from blood, climbed 3.4 percent to A$32.80 on speculation it will benefit from a recall of a competitor’s product in the U.S. and Europe.
The U.S. Food and Drug Administration will meet this week to decide whether to extend a recall of closely held Octapharma AG’s Octagam, UBS AG said in a note to investors today.
PaperlinX Ltd. (PPX AU), Australia’s largest papermaker, decreased 2.9 percent to 50.5 Australian cents. The stock was cut to “underperform” from “neutral” at Credit Suisse.
TPG Telecom Ltd. (TPM AU), an internet service provider, dropped 2.4 percent to A$1.66. The Royal Bank of Scotland Group Plc cut the stock to “hold” from “buy.”
Guinness Peat Group Plc (GPG NZ), an investment holding company, increased 1.5 percent to 67 New Zealand cents. The company named four new independent directors who will form a committee to evaluate options and recommend a strategy to maximize value for shareholders.
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