Australia’s S&P/ASX 200 Index (AS51) slipped 0.2 percent to 4,263 at the close of trading in Sydney. New Zealand’s NZX 50 Index added 0.4 percent to 3,387.84 in Wellington.
The following were among the most active shares in the market today. Stock symbols are in parentheses after company names.
Coca-Cola Amatil Ltd. (CCL) fell 0.1 percent to A$11.93. Australia’s biggest soft-drink maker said it won’t buy the spirits unit of Foster’s Group Ltd. as it instead focuses on an existing liquor distribution agreement with Beam Inc.
Gloucester Coal Ltd. (GCL) rose 3.2 percent to A$8.46. The coal-mining company’s independent directors are expected to give approval this week to China’s Yanzhou Coal Mining Co.’s bid to buy Gloucester, the Australian newspaper reported today.
Lynas Corp. (LYC) slipped 0.9 percent to A$1.13. The government of Malaysia has asked Lynas to move a residue disposal site to a location far from its rare-earth refinery plant and local communities, The Star reported March 3, citing Prime Minister Najib Razak.
Westside Corp. (WCL) jumped 6.7 percent to 48 Australian cents. The coal-seam gas explorer said after markets closed March 2 that it received a A$165 million ($177 million) takeover offer from Liquefied Natural Gas Ltd. (LNG) . LNG added 9.3 percent to 47 Australian cents.
Western Areas NL (WSA) fell 4.2 percent to A$5.44. Australia’s second-biggest nickel producer said it bought Kagara Ltd. (KZL)’s nickel assets for A$68 million.
Woolworths Ltd. (WOW) slipped 0.6 percent to A$25.24 after Chief Executive Officer Grant O’Brien told the Australian Broadcasting Corp. yesterday that Australia’s largest retailer can build its Masters home-improvement unit into a high-margin business within five years.
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