Bloomberg News

Australian, N.Z. Stocks: Lynas Corp, Pacific Brands, Wesfarmers

February 02, 2012

Feb. 2 (Bloomberg) -- Australia’s S&P/ASX 200 Index advanced 1 percent to 4,267.8 at the close of trading in Sydney. New Zealand’s NZX 50 Index increased 0.4 percent to 3,314.64 in Wellington.

The following were among the most active shares in the market. Stock symbols are in parentheses after company names.

Briscoe Group Ltd. (BGR NZ) gained 5.6 percent to NZ$1.50 after the New Zealand-based homeware and sporting-goods retailer said full-year net-income probably rose at least 25 percent.

Lynas Corp. (LYC AU) surged 19 percent to A$1.59 after Malaysia’s Atomic Energy Licensing Board granted the company a temporary operating license to begin refining rare earths after public protests jeopardized the project.

Pacific Brands Ltd. (PBG AU) rose 5.5 percent to 67 Australian cents. TPG Capital is in talks with banks to finance a potential bid for the company that holds local rights to the Everlast, Clarks and Bonds brands.

PMP Ltd. (PMP AU) fell 8.3 percent to 44 Australian cents as the printer forecast full-year earnings before interest and taxes will be 20 percent lower than the guidance issued in November on poor sales volume.

Wesfarmers Ltd. (WES AU) climbed 0.6 percent to A$29.90 after Australia’s second-largest retailer said quarterly sales at its Coles supermarkets rose 6.7 percent as store refurbishments and price cuts for staples lured customers.

--Editor: Jim Powell.

To contact the reporter on this story: Ben Sharples in Melbourne at bsharples@bloomberg.net

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net


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