Australia, N.Z. Stocks: Alchemia, Cochlear, Fortescue, Newcrest
Australia’s S&P/ASX 200 Index (AS51) rose 0.4 percent to 4,514.80 at the 4:10 p.m. close of trading in Sydney. New Zealand’s NZX 50 Index (NZSE50FG) fell 0.2 percent to 3,424.35 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.
Gold producers: Gold futures for August delivery gained 0.9 percent to settle at a record $1,562.30 an ounce on the Comex in New York yesterday.
David Jones Ltd. (DJS) , Australia’s second-biggest department store chain, fell 1.8 percent to A$3.91. Harvey Norman Holdings Ltd. (HVN) , the nation’s largest furniture and electrical retailer, declined 2.4 percent to A$2.41.
Alchemia Ltd. (ACL) jumped 30 percent to 80 Australian cents. The Australian developer of the first generic form of GlaxoSmithKline Plc’s blood thinner Arixtra said the U.S. Food and Drug Administration approved the product for sale in the U.S.
Cochlear Ltd. (COH) climbed 2.5 percent to A$70.84. The maker of the world’s best-selling hearing implant had its stock rating raised to “hold” from “sell” at Citigroup Inc.
Fortescue Metals Group Ltd. (FMG) climbed 1.6 percent to A$6.38. The iron-ore producer is mulling a Hong Kong or Shanghai listing, the Australian newspaper reported on its website yesterday, citing an interview with Chief Executive Andrew Forrest.
Ryman Healthcare Ltd. (RYM) , New Zealand’s largest publicly traded retirement village manager, fell 4 percent to NZ$2.65. Tainui Group Holdings Ltd. sold its 4.5 percent holding in Ryman to help cut debt levels, website stuff.co.nz reported.
To contact the reporter on this story: Shani Raja in Sydney at email@example.com.
To contact the editors responsible for this story: Nick Gentle at firstname.lastname@example.org.