Aussie stocks up over 1 pct; Queensland Ores jumpsAustralian...

Aussie stocks up over 1 pct; Queensland Ores jumps
Australian market update
Market Indices 17 May,2008
17/05/2008 00:03 Sydney, Australia.
Index Value Change
All Ordinaries 6006.1 +41.2
S&P/ASX 20 3351.3 +23.6
S&P/ASX 50 5830.3 +43.7
S&P/ASX 100 4801.4 +32.6
S&P/ASX 200 5931.0 +40.3
S&P/ASX 300 5933.0 +40.1
S&P/ASX MIDCAP 5684.8 +11.7
S&P/ASX SMLL 3480.4 +23.1

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Market movers
(Adds Queensland Ores)

SYDNEY, May 16 (Reuters) - Australian shares rose 1.3 percent on Friday, nearing the 6,000-point level for the first time in over three months, with BHP Billiton Ltd (BHP.AX


BHP BILLITON17 May,200817/05/2008 00:03 Sydney, Australia.
Value Change % Change
48.700 +0.720 +1.500%

Company overview
Real-time quote
BHP.AX , 48.700, +0.720, +1.500%) hitting a new high on fresh speculation of Chinese interest in the firm.

The benchmark S&P/ASX 200 index (.AXJO


S&P/ASX 20017 May,200817/05/2008 00:03 Sydney, Australia.
Value Change % Change
5931 +40.3 +0.7%

Australian indices
International indices
.AXJO , 5931, +40.3, +0.7%) rose 77 points to 5,967.7 by 0320 GMT, a level not seen since Feb. 4.

New Zealand's benchmark NZX-50 index <.NZ50> rose nearly 1 percent, or 34.94 points, to 3,649.17. Top stock Telecom Corp Ltd was up 3.1 percent at NZ$3.94.

STOCKS ON THE MOVE

* Queensland Ores Ltd (QOL.AX


QUEENSLAND ORES17 May,200817/05/2008 00:03 Sydney, Australia.
Value Change % Change
0.200 +0.040 +25%

Company overview
Real-time quote
QOL.AX , 0.200, +0.040, +25%) raced up 31.3 percent to A$0.21 after the metals explorer said the first ore was fed to the treatment plant at its flagship Wolfram Camp project one week ahead of schedule.

0319 GMT

* Financial shares rose as sentiment towards the sector continued to improve. Dealers said the recent bank reporting season had reassured investors about the health of domestic banks.

Westpac Banking Corp Ltd's (WBC.AX


WESTPAC BANKING17 May,200817/05/2008 00:03 Sydney, Australia.
Value Change % Change
24.860 +0.210 +0.850%

Company overview
Real-time quote
WBC.AX , 24.860, +0.210, +0.850%) A$18.6 billion ($17.5 billion) takeover offer for St George Bank Ltd (SGB.AX
ST GEORGE BANK17 May,200817/05/2008 00:03 Sydney, Australia.
Value Change % Change
33.280 -0.210 -0.630%

Company overview
Real-time quote
SGB.AX , 33.280, -0.210, -0.630%) has also sparked hopes of more merger activity in the sector.

National Australia Bank Ltd (NAB.AX


NATL AUST BANK17 May,200817/05/2008 00:03 Sydney, Australia.
Value Change % Change
34.020 +0.410 +1.220%

Company overview
Real-time quote
NAB.AX , 34.020, +0.410, +1.220%) rose 1.6 percent to A$34.16 and Commonwealth Bank of Australia Ltd (CBA.AX
COMMONWEALTH BK17 May,200817/05/2008 00:03 Sydney, Australia.
Value Change % Change
44.950 +0.130 +0.290%

Company overview
Real-time quote
CBA.AX , 44.950, +0.130, +0.290%) added 1.2 percent to A$45.35.

Australia and New Zealand Banking Group Ltd (ANZ.AX


ANZ BANKING GRP17 May,200817/05/2008 00:03 Sydney, Australia.
Value Change % Change
22.950 +0.640 +2.870%

Company overview
Real-time quote
ANZ.AX , 22.950, +0.640, +2.870%) gained 2.9 percent to A$22.96 while Westpac rose nearly 1 percent to A$24.89.

0307 GMT

* Agricultural feed firm Ridley Corp (RIC.AX


RIDLEY CORP17 May,200817/05/2008 00:03 Sydney, Australia.
Value Change % Change
1.400 +0.100 +7.690%

Company overview
Real-time quote
RIC.AX , 1.400, +0.100, +7.690%) extended early gains to jump 11.5 percent to A$1.45 after grains handler Graincorp Ltd (GNC.AX
GRAINCORP17 May,200817/05/2008 00:03 Sydney, Australia.
Value Change % Change
11.850 -0.630 -5.050%

Company overview
Real-time quote
GNC.AX , 11.850, -0.630, -5.050%) offered to buy the firm for A$415 million ($392 million) [ID:nSYD209640].

This represents an implied offer price of A$1.39 per Ridley share, based on Graincorp's closing price of A$12.48 on May 15.

Graincorp shares, however, fell 3.2 percent to A$12.08.

0228 GMT

* CSL Ltd (CSL.AX


CSL LIMITED17 May,200817/05/2008 00:03 Sydney, Australia.
Value Change % Change
40.250 -2.080 -4.910%

Company overview
Real-time quote
CSL.AX , 40.250, -2.080, -4.910%), the world's top maker of plasma products, fell 3.2 percent to A$40.98.

JP Morgan downgraded its rating on CSL to neutral from overweight, saying that shareholders should book profits following recent gains in CSL's share price.

0213 GMT

* Leighton Holdings (LEI.AX


LEIGHTON HLDS17 May,200817/05/2008 00:03 Sydney, Australia.
Value Change % Change
55.680 +2.870 +5.430%

Company overview
Real-time quote
LEI.AX , 55.680, +2.870, +5.430%), Australia's top construction group, rose 4.9 percent to A$55.38, adding to a 4.1 percent rise in the previous session.

UBS upgraded its rating on the firm to buy from neutral and raised its price target to A$58.00 from A$50.00 after Leighton reaffirmed its full-year profit growth outlook on Thursday.

0122 GMT

* BHP rose 3.7 percent to A$49.77, having hit a record A$50.00 earlier, on fresh talk of a planned stake purchase by the Chinese.

A newspaper reported that Chinese interests have approached a major Australian superannuation and investment fund to be a partner in a multi-billion-dollar swoop on 9 percent of BHP [ID:nSYD115459].

Shares in Rio rose 2.4 percent to A$156.16 after rising to a new peak of A$156.69 earlier in the session on continued talk BHP is about to sweeten its offer.

Other mining shares also rose after gold gained over 2 percent, while base metals such as aluminium, copper and zinc also firmed.

Gold miner Newcrest Mining (NCM.AX


NEWCREST MINING17 May,200817/05/2008 00:03 Sydney, Australia.
Value Change % Change
31.530 +0.730 +2.370%

Company overview
Real-time quote
NCM.AX , 31.530, +0.730, +2.370%) added 2.9 percent to A$31.70 and Lihir Gold (LGL.AX
LIHIR GOLD17 May,200817/05/2008 00:03 Sydney, Australia.
Value Change % Change
3.100 +0.090 +2.990%

Company overview
Real-time quote
LGL.AX , 3.100, +0.090, +2.990%) rose 2.3 percent to A$3.08.

0054 GMT

* Transfield Services Ltd (TSE.AX


TRANSFIELD SERVC17 May,200817/05/2008 00:03 Sydney, Australia.
Value Change % Change
10 -3.250 -24.530%

Company overview
Real-time quote
TSE.AX , 10, -3.250, -24.530%) slumped 21.1 percent to A$10.45, its biggest one-day fall on record, after it said its 2008 net profit would miss market forecasts because of rising costs, a strong currency and clients deferring projects [ID:nSYD206629].

Transfield provides services for the mining, transport and utility sector.

0048 GMT ($1=A$1.06) (Reporting by Geraldine Chua)