Australia, N.Z. Stocks: Alumina, BHP, JB Hi-Fi, Wotif, Woodside
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 December delivery dropped 0.8 percent to $1,336.40 an ounce at 11:35 a.m. in New York yesterday.
Alumina Ltd. (AWC) climbed 3.9 percent to A$1.985 after partner Alcoa Inc., the largest U.S. aluminum producer, reported third-quarter profit that topped analysts’ expectations.
JB Hi-Fi Ltd. (JBH) fell 3.9 percent to A$20.50. The Australian electronics retailer was downgraded to “underperform” from “neutral” at Credit Suisse Group AG.
Monadelphous Group Ltd. (MND) declined 1.2 percent to A$16.16. The mining services company had its stock rating cut to “sell” from “neutral” by analysts led by Owen Evans at UBS AG.
Rivercity Motorway Group (RCY AU) jumped 15 percent to 1.5 Australian cents. The toll-road operator asked lenders for a standstill agreement on paying interest on a A$1.33 billion ($1.31 billion) loan, the Australian Financial Review reported in its Street Talk column, without saying where it got the information.
WorleyParsons Ltd. (WOR) lost 1.7 percent to A$23.15. Australia’s biggest engineering company was downgraded to “underperform” from “neutral” at Credit Suisse.
Wotif.com Holdings Ltd. (WTF) declined 2 percent to A$4.98 after the stock was downgraded to “neutral” from “outperform” at Credit Suisse Group AG.
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