Australia Stocks: Alacer Gold, BHP, BlueScope, ResMed, Newcrest
Australia’s S&P/ASX 200 Index gained 0.3 percent to 4,241.90 at 1:33 p.m. in Sydney after a report showed Australian inflation slowed last quarter. The gauge earlier fell as much as 1.3 percent.
New Zealand’s NZX 50 Index slipped 1 percent to 3,264.56 in Wellington.
The following were among the most active shares in the market today. Stock symbols are in parentheses after company names.
Mining stocks: The London Metal Exchange Index of prices for six metals, including copper and aluminum, fell 1.1 percent yesterday.
BHP Billiton Ltd. (BHP) , the world’s top mining company, dropped 0.5 percent to A$36.98. Rio Tinto Group (RIO AU), the world’s second-largest miner by sales, lost 1 percent to A$65.95.
Gold miners: Gold futures for December delivery touched $1,704.70 on the Comex in New York yesterday, the highest price for a most-active contract since Sept. 23.
Newcrest Mining Ltd. (NCM) , Australia’s largest gold mining company, rose 3.7 percent to A$34.49. OceanaGold Corp. (OGC) jumped 5.3 percent to A$2.39 and Perseus Mining Ltd. (PRU) climbed 5.8 percent to A$3.29.
Alacer Gold Corp. (AQG AU) rose 6.2 percent to A$11.02. The gold explorer was raised to “outperform” from “underperform” at Credit Suisse Group AG.
BlueScope Steel Ltd. (BSL) fell 1.7 percent to 86 Australian cents. Australia’s largest steelmaker said New Zealand steel operations have been affected by a gas supply interruption.
Charter Hall Retail REIT (CQR) slipped 0.9 percent to A$3.31. The Australian real-estate investment trust was cut to “neutral” from “buy” at UBS AG.
ResMed Inc. (RMD) fell 1.2 percent to A$2.58, adding to yesterday’s 13 percent decline. Credit Suisse Group AG downgraded the maker of machines to regulate breathing for people with sleeping disorders to “neutral” from “outperform.”
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