Brambles, James Hardie, Mirvac Group: Australian, New Zealand Stock Movers
The following were among the most active shares in the market today. Stock symbols are in parentheses after company names.
Australian-dollar-linked shares: Australia’s dollar traded near parity with the U.S. currency amid speculation the U.S. Federal Reserve will ease monetary policy further.
Brambles Ltd. (BXB AU), the world’s biggest supplier of wooden pallets, declined 1.7 percent to A$6.28.
James Hardie Industries SE (JHX AU) lost 1.2 percent to A$5.63. The biggest seller of home siding in the U.S. had its rating cut to “neutral” from “outperform” at Credit Suisse Group AG.
Fortescue Metals Group Ltd. (FMG AU), Australia’s third- largest iron ore producer, decreased 0.8 percent to A$6.33. Royal Bank of Scotland Group Plc reduced its earnings forecast 11 percent, citing the stronger Australian dollar.
Gujarat NRE Minerals Ltd. (GNM AU) climbed 1.6 percent to 62 Australian cents. The Australian coal producer was rated “overweight” in new coverage at JPMorgan Chase & Co.
Platinum Australia Ltd. (PLA AU) retreated 1.8 percent to 56 Australian cents after the owner of mines in South Africa and Australia was downgraded to “neutral” from “outperform” at Macquarie Group Ltd.
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