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Reuters Australia

Reuters New Media

Australia shares gain 1 pct, United Minerals climbs

Thursday June 25, 05:07 PM

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(Adds United Minerals, Transfield Services)

MELBOURNE, June 25 (Reuters) - Australian shares extended gains on Thursday, rising 1 percent, as firmer resources stocks such as Rio Tinto Ltd (ASX: RIO.ax) offset a mixed performance from financials.

The benchmark S&P/ASX 200 gained 36.4 points to trade at 3,843.4 by 0458 GMT, after rising 0.3 percent on Wednesday.

New Zealand's benchmark NZX 50 index .NZ50 gained 1.1 percent to 2,769.6.

STOCKS ON THE MOVE

* United Minerals UMC.AX jumped 17.4 percent to A$0.845. The company said assay results from its Railway iron ore deposit in Western Australia's Pilbara region had established a significant new high grade extension.

0456 GMT

* Transfield Services (ASX: TSE.ax) dropped 7 percent to A$2.38 after the company said its TransdevTSL joint venture with French transport group Transdev lost its bid to remain as operator of the tram network in the Australian city of Melbourne.

0456 GMT

* Shares in engineering firm Downer EDI (ASX: DOW.ax) rose 3.4 percent to A$5.24 after it said its KDR joint venture had been named as the preferred tenderer for Melbourne's tram franchise.

0330 GMT

* Shares in grain-handler and exporter ABB Grain Ltd (ASX: ABB.ax) gained 0.2 percent after the company said it had received government approval for its proposed $1.2 billion takeover by Canadian grain handler Viterra VT.TO. [ID:nSYU006749]

0020 GMT (Reporting by Adrian Bathgate)

More Quotes and Company Information:
  • ABB GRAIN LIMITED (ASX: ABB.ax)
  • DOWNER EDI LIMITED(ASX: DOW.ax)
  • RIO TINTO LIMITED(ASX: RIO.ax)
  • TRANSFIELD SERVICES LIMITED(ASX: TSE.ax)

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