Hastie, Vital, Leighton, WorleyParsons: Australian, New Zealand Equities
Australia’s S&P/ASX 200 Index was little changed at 4,701.40 at the 4:10 p.m. close of trading in Sydney. The gauge reversed gains earlier after the Reserve Bank of Australia unexpectedly increased its benchmark interest rate by a quarter percentage point to 4.75 percent.
New Zealand’s NZX 50 Index advanced 0.8 percent to 3,324.76 at the 5 p.m. close in Wellington after the statistics bureau reported the nation’s wage growth accelerated for the second straight quarter.
The following were among the most active shares in the market today. Stock symbols are in parentheses after company names.
Hastie Group Ltd. (HST AU) dropped 4.4 percent to A$1.30. The commercial air-conditioning company had its stock rating cut to “neutral” from “buy” at UBS AG and to “hold” from “buy” by Royal Bank of Scotland Group Plc.
Leighton Holdings Ltd. (LEI AU) plunged 7 percent to A$33.75, its biggest drop since May 17, after issuing a profit forecast. Australia’s biggest construction company forecast an A$85 million ($84.7 million) cut to first-quarter profit.
WorleyParsons Ltd. (WOR AU) gained 1.4 percent to A$23.22 The Australian engineering group was appointed as a contractor for work related to the Queensland Curtis LNG project, the company said in a statement.
Vital Healthcare Property Trust (VHP NZ), a New Zealand- based owner of medical real estate, slumped 7.5 percent to NZ$1.24 after it announced a NZ$151 million ($116 million) share sale to partly fund the acquisition of Australian properties.
To contact the editor responsible for this story: Darren Boey at email@example.com.