Australia, N.Z. Stocks: ASX, BHP, Caltex, Newcrest, Rio, Sphere
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 slid 0.7 percent yesterday to close at $3.664 a pound at 1:20 p.m. in New York, the biggest loss for a most-active contract since Sept. 10.
ASX Ltd. (ASX AU)) fell 1.3 percent to A$32.35. Australia’s main stock exchange operator is at risk of losing as much as half its revenue from share trading within five years if rival stock exchanges prove successful, the Australian Financial Review reported, citing UBS AG analyst Chris Williams.
Caltex Australia Ltd. (CTX AU) lost 2.9 percent to A$11.64 after the nation’s biggest oil refiner was downgraded to “sell” from “hold” at Deutsche Bank AG.
Newcrest Mining Ltd. (NCM AU), Australia’s largest gold producer, fell 1.3 percent to A$40.18. Gold futures for December delivery dropped $1 to settle at $1,316.80 at 1:42 p.m. in New York yesterday.
Sphere Minerals Ltd. (SPH AU) sank 2.2 percent to A$2.64 after saying it hasn’t received an alternative proposal to the recommended Xstrata Plc offer from Sin-Tang Development Pte Ltd. or any other party.
Kathmandu Holdings Ltd. (KMD NZ), a New Zealand-based retailer of outdoor equipment, dropped 3.1 percent to NZ$1.87 after business confidence in the nation fell in the third quarter to the lowest level since mid-2009. Pumpkin Patch Ltd. (PPL NZ), which sells children’s apparel, fell 1.6 percent to NZ$1.85.
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