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Australia shares up 0.2%; Green Rock, Panoramic gain
Thursday July 2, 04:09 PM
(Adds Green Rock and Panoramic)
MELBOURNE, July 2 (Reuters) - Australian shares rose 0.2 percent on Thursday as companies geared to global growth such as miner BHP Billiton Ltd (ASX: BHP.ax) gained after manufacturing data restored some confidence a global economic recovery was on track.
The benchmark S&P/ASX 200 index .AXJO was up 9.4 points at 3,883.4 by 0400 GMT, recovering from Wednesday's 2.1 percent fall. New Zealand's benchmark NZX 50 index .NZ50 turned to a loss of 1.5 points, or 0.1 percent, to 2,778.9.
STOCKS ON THE MOVE
* Green Rock Energy Ltd GRK.AX surged 75 percent to A$0.07 after the company said it would develop Western Australia state's first geothermal energy project.
0352 GMT
* Panoramic Resources Ltd PAN.AX gained 3.6 percent to A$2.32 after the company said nickel production in the 2008/09 financial year rose 26 percent to a record.
0348 GMT
* Newcrest Mining Ltd (ASX: NCM.ax) , Australia's top gold miner, gained 2.7 percent to A$31.11 and Lihir Gold Ltd LGL.AX advanced 2.7 percent to A$3.01. The gold producers rose after the price of the precious metal soared with U.S. gold futures nearing $950 an ounce. [ID:nN01527965]
0230 GMT
*FerrAus Ltd FRS.AX gained 4.2 percent to A$0.50 after saying it owned 100 percent of the Silver Swan North nickel and gold project in Australia's west after BHP and Mithril Resources Ltd (ASX: MTH.ax) withdrew from the joint venture. Mithril shares fell 6.7 percent to A$0.14.
0203 GMT
* Rio Tinto Ltd (ASX: RIO.ax) firmed 1.5 percent to A$52.37 percent after the global miner received strong support for its $15.2 billion rights offer in the UK. [ID:nSYD476934].
0203 GMT
* BHP Billiton advanced 1.8 percent to A$34.51 as economic recovery hopes helped push copper to its highest level in more than two weeks. [ID:nL1657892]
0203 GMT
* Extract Resources (ASX: EXT.ax) rose 2.6 percent to A$6.40 after the uranium exploration group said it had upgraded the resource estimate at its Rossing South uranium deposit in Namibia.
0052 GMT (Reporting by Simone Giuliani; Editing by Denny Thomas)
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