Australia, N.Z. Stocks: BHP, Charter, QR National, Telstra, Rio
Australia’s S&P/ASX 200 Index gained 0.1 percent to 4,269.20 at the 4:10 p.m. close of trading in Sydney. New Zealand’s NZX 50 Index (NZSE50FG) rose 0.4 percent to 3,317.73 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.
BHP Billiton Ltd. (BHP) , the world’s No. 1 mining company, rose 0.5 percent to A$39.35. Rio Tinto Group (RIO AU), the world’s second-largest mining company by sales, gained 1.7 percent to A$71.79.
Ausdrill Ltd. (ASL) advanced 1.5 percent to A$3.36. The drilling-services company reported a 52 percent increase in full-year net profit.
Charter Hall Office REIT (CQO) fell 0.9 percent to A$3.34. The real-estate investment company was downgraded to “neutral” from “outperform” at Credit Suisse Group AG.
Macquarie Atlas Roads Group (MQA) gained 7.5 percent to A$1.585 after the toll-road manager was upgraded to “buy” from “hold” at Royal Bank of Scotland Group Plc.
QR National Ltd. (QRN) climbed 4.4 percent to A$3.34. Australia’s largest coal-train operator was raised to “hold” from “sell” at Deutsche Bank AG.
Telecom Corp. of New Zealand (TEL AU) fell 0.5 percent to A$2.12 after New Zealand approved its plan to split its assets after its structural separation, the first step in a proposed demerger, according to a statement from Communications and Information Technology Minister Steven Joyce.
Telstra Corp. (TLS AU) fell 2.6 percent to A$2.99. Australia’s antitrust regulator told Telstra it needs to revise a plan to split off its fixed-line network assets to ensure that rivals have fair access to its network. In June, Telstra agreed with the government to cede control of the nation’s only fixed- line network in exchange for compensation worth A$11 billion ($11.7 billion) so that a national broadband network could be built.
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