Bloomberg News

Australia, N.Z. Stocks: BHP, Fortescue, Myer, Newcrest, Rio

March 15, 2012

Australia’s S&P/ASX 200 Index (AS51) fell 0.2 percent to 4,277.80 at the close of Sydney trading. New Zealand (ANZ)’s NZX 50 Index gained 1 percent to 3,533.73 in Wellington.

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

Newcrest Mining Ltd. (NCM) , Australia’s biggest gold producer, fell 3.3 percent to A$30.27 after gold prices dropped to the lowest level since Jan. 13. Smaller rival Oceanagold Ltd. (OGC) lost 4.5 percent to A$2.32.

Myer Holdings Ltd. (MYR) dropped 3.4 percent to A$2.29 after Australia’s largest department-store operator said first- half earnings fell 18 percent as sales declined.

Fortescue Metals Group Ltd. (FMG) rose 2.6 percent to A$5.98 after Australia’s third-biggest iron-ore producer doubled the size of a junk bond sale to $2 billion to help fund its expansion as well as the purchase of mining vehicles and equipment.

BHP Billiton Ltd. (BHP) dropped 1.2 percent to A$35.18. The London Metal Exchange LMEX Index fell 1.1 percent yesterday, with copper prices falling the most in a week on concern demand will ease after China, the biggest consumer, affirmed plans to prevent a housing bubble. Smaller rival Rio Tinto Group (RIO AU) fell 0.6 percent to A$64.93.

To contact the reporter on this story: Elisabeth Behrmann in Sydney at ebehrmann1@bloomberg.net

To contact the editor responsible for this story: Rebecca Keenan at rkeenan5@bloomberg.net


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