Australia, N.Z. Stocks: BHP, CFS, LNG, Murchison, Rio, Woodside
Australia’s S&P/ASX 200 Index (AS51) rose 1.6 percent to 4,675.30 at the 4:10 p.m. close of trading in Sydney, set for a monthly gain of 6.2 percent. New Zealand’s NZX 50 Index (NZSE50FG) increased 0.9 percent to 3,239.14 in Wellington, poised for a 4.6 percent monthly advance.
The following were among the most active shares in the market today. Stock symbols are in parentheses after company names.
Mining shares: Copper futures for December delivery rose 0.8 percent to settle at $3.618 a pound at 1:22 p.m. in New York on Sept. 24.
BHP Billiton Ltd. (BHP) , the world’s largest mining company, climbed 1.6 percent to A$39.66. Rio Tinto Group (RIO) , the world’s third-biggest miner, advanced 2.1 percent to A$77.15. Equinox Minerals Ltd. (EQN AU), which owns Africa’s biggest copper mine, jumped 5.7 percent to A$5.71.
Oil companies: Crude for November delivery rose 1.7 percent to $76.49 a barrel in New York on Sept. 24, the highest settlement since Sept. 13.
CFS Retail Property Trust (CFX) fell 2.6 percent to A$1.90 after the real-estate trust completed a A$540 million ($518 million) institutional placement.
Liquefied Natural Gas Ltd. (LNG) rose 1.1 percent to 45 Australian cents and Metgasco Ltd. (MEL) gained 12 percent to 50 Australian cents after the companies agreed to study the development of an LNG project in Queensland state to gain from rising Asian demand for cleaner-burning fuels.
Murchison Metals Ltd. (MMX AU) slumped 10 percent to A$1.625. Mitsubishi Corp. may pull out from a A$4 billion Oakajee Port & Rail Pty iron ore port venture with Murchison because of doubts over its economic viability, the Australian newspaper reported, without citing anyone. Murchison said it found “no substance” in the report.
Hallenstein Glasson Holdings Ltd. (HLG) rose 2.9 percent to NZ$4.24. The New Zealand-based clothing retailer said full-year profit rose 53 percent as margins improved and in the absence of price cuts to clear stock.
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