Australian Stocks: Kingsgate, Qantas, Transpacific, Virgin Blue
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, gained 0.2 percent on Oct. 28.
BHP Billiton Ltd. (BHP) , the world’s No. 1 mining company, fell 2.3 percent to A$37.80. Rio Tinto Group (RIO AU), the second-largest global miner by sales, slipped 1.4 percent to A$69.21.
CSR Ltd. (CSR) shares dropped 1.6 to A$2.44. The producer of building supplies was cut to “hold” from “buy” at Deutsche Bank AG.
Kingsgate Consolidated Ltd. (KCN) shares slid 3.7 percent to A$7.49. The gold producer was dropped to “hold” from “buy” at Deutsche Bank.
Qantas Airways Ltd. (QAN) surged 4.4 percent to A$1.6125. Australia’s biggest carrier began resuming flights this afternoon after a labor regulator barred work stoppages that prompted the airline to ground its fleet.
Santos Ltd. (STO) dropped 1.8 percent to A$12.96. Australia’s third-largest oil and gas producer was cut to “neutral” from “outperform” at Credit Suisse AG.
Transpacific Industries Ltd. (TPI AU) soared 21 percent to 74.5 Australian cents, the biggest gain on the benchmark index. The largest waste-management company in Australia and New Zealand raised about A$267 million ($281 million) from an entitlement offer.
Virgin Blue Holdings Ltd. (VBA) jumped 4.2 percent to 37.5 Australian cents. The group’s Australian unit yesterday added 3,000 seats on domestic routes after rival Qantas Airways grounded its main fleet on Oct. 29 because of a labor dispute.
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