deutsche bank upgrade ext to buy

Australian, New Zealand Stocks: BHP, Rio Tinto, Extract, Santos, Woodside
By Shani Raja - Jun 29, 2010

Australia?s S&P/ASX 200 Index declined 2.2 percent to 4,251.80 as of 10:33 a.m. in Sydney, with 195 of the gauge?s 200 members falling. The index is set for its lowest close in almost a year.

New Zealand?s NZX 50 Index lost 1.1 percent to 2,957.73 in Wellington. The following were among the most active shares in the market today. Stock symbols are in parentheses after company names.

Mining shares: Copper prices fell the most in five weeks in New York yesterday after reports signaled a deteriorating economic outlook in China and the U.S., the world?s top metals buyers.

BHP Billiton (BHP AU), the world?s largest mining company, lost 2.3 percent to A$37.22. Rio Tinto Group (RIO AU), the world?s third-largest mining company, retreated 3.1 percent to A$66.33.

Oil companies: Crude oil fell by the most in more than three weeks in New York yesterday as China?s economy grew at the slowest pace in five months in April and confidence among U.S. consumers declined more than forecast.

Woodside Petroleum Ltd. (WPL AU), Australia?s second- largest oil and gas producer, slipped 2 percent to A$41.73, and rival Santos Ltd. (STO AU) declined 1.1 percent to A$12.45.

Extract Resources Ltd. (EXT AU) advanced 0.6 percent to A$6.39. The uranium explorer?s stock rating was raised to ?buy? from ?hold? at Deutsche Bank AG.

To contact the reporters for this story: Shani Raja in Sydney at [email protected].

http://www.bloomberg.com/news/2010-06-30/australian-new-zealand-stocks-bhp-rio-tinto-extract-santos-woodside.html