Australia, N.Z. Stocks: Primary Health, Qantas, Seven, Woodside
Australia’s S&P/ASX 200 Index gained 0.2 percent to 4,508.10 at the 4:10 p.m. close of trading in Sydney. New Zealand’s NZX 50 Index (NZSE50FG) slipped 0.2 percent to 3,455.60 at the 5 p.m. close in Wellington.
The following were among the most active shares in the market today. Stock symbols are in parentheses after company names.
Oil and airline stocks: Oil for August delivery dropped 4.6 percent on the New York Mercantile Exchange yesterday after the International Energy Agency said members would release crude from strategic reserves.
Woodside Petroleum Ltd. (WPL) , Australia’s second- biggest oil and gas producer, fell 0.5 percent to A$40.20. Santos Ltd. (STO) , Australia’s third-largest producer of the fuels, slid 0.8 percent to A$13.27. Qantas Airways Ltd. (QAN) , Australia’s biggest carrier, advanced 1.9 percent to A$1.835 on the prospects for lower fuel prices.
Gold producers: Gold futures for August delivery declined 2.1 percent on the Comex in New York.
Adelaide Brighton Ltd. (ABC) gained 0.7 percent to A$3.08. The Australian producer of construction materials said it concluded the refinancing of its bank debt facilities with Commonwealth Bank of Australia, National Australia Bank Ltd. and Westpac Banking Corp.
Primary Health Care Ltd. (PRY) gained 3.7 percent to A$3.41. The medical-tests provider was raised to “strong buy” from “buy” at BBY Ltd.
Seven Group Holdings Ltd. (SVW) advanced 3.8 percent to A$8.80. The company which invests in media as well as industrial equipment was raised to “buy” from “hold” at Deutsche Bank AG, which cited a “pullback” in its share price and prospects for its Caterpillar heavy machinery-dealership business.
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