Australia Stocks: Babcock, Coeur, Newcrest, Orion, Woolworths

By Shani Raja

Aug. 11 (Bloomberg) -- The S&P/ASX 200 Index rose 28.20 points, or 0.6 percent, to 5,014.40 at 2:25 p.m. in Sydney, the highest since July 24. The broader All Ordinaries Index gained 23.90, or 0.5 percent, to 5,061.50, while the futures index expiring in September advanced 0.6 percent to 4,992.

Mining companies: Rio Tinto Group, fending off a hostile bid from BHP Billiton Ltd. (BHP AU), snapped three days of gains, losing A$3.90, or 3.4 percent, to A$112.10. BHP slipped 64 cents, or 1.7 percent, to A$36.51.

A measure of six metals traded on the London Metal Exchange dropped 3.6 percent. Zinc lost 3.4 percent, copper 3.5 percent and nickel 3.7 percent.

Babcock & Brown Ltd. (BNB AU), Australia's second-biggest manager of listed funds, slumped 68 cents, or 10 percent, to A$6.12, the index's third-biggest loser. The company said first- half profit may fall as much as 40 percent as values for property and investments slump.

Bendigo & Adelaide Bank Ltd. (BEN AU), an Australian regional lender, added 49 cents, or 4.6 percent, to A$11.25, the highest since June 26, after saying full-year profit increased 40 percent after gaining new customers.

Coeur d'Alene Mines Corp. (CXC AU) plunged 28 cents, or 11 percent, to A$2.38, the most in almost five months, after reporting a $656,000 loss in 2008. Coeur was the second-biggest loser on the benchmark.

Macquarie CountryWide Trust (MCW AU), an Australian real estate investment trust gained 6 cents, or 6.2 percent, to A$1.03, and was the fourth-biggest gainer on the benchmark. The company said it will have no further debt facilities expiring in fiscal 2009 after agreeing to refinancing terms on two properties in its U.S. portfolio.

Macquarie DDR Trust (MDT AU), an Australian real estate investment trust, soared 4 cents, or 9.7 percent, to 40 cents, and was the index's biggest gainer. Its shares rose for a second day after the company said it won an extension to the gearing covenant on its Head Trust loan facility.

Minara Resources Ltd. (MRE AU), Australia's second-largest nickel producer, dropped 21 cents, or 13 percent, to A$1.44, making it the biggest loser on the benchmark. UBS AG halved the company's price target and cut its rating to ``neutral'' from ``buy.''

Newcrest Mining Ltd. (NCM AU) dropped A$1.91, or 7.2 percent, to A$24.49, the lowest since September 2007. Gold fell for the sixth-straight session, the longest slide since June 2006, as the euro slumped against the dollar, eroding the appeal of the precious metal as an alternative investment.

Orion Equities Ltd. (OEQ AU) gained 26 cents, or 26 percent, to A$1.25, the most in more than four years, after the company sold its stakes in an Indonesian coal project and Australian iron ore venture to Strike Resources Ltd.

St. George Bank Ltd. (SGB AU) advanced 92 cents, or 3.1 percent, to A$30.34, the highest since June 6. The lender looks set to report record full-year profit in line with a revised target, the Sydney Morning Herald reported, without saying where it got the information.

Ten Network Holdings Ltd. (TEN AU) rose 4 cents, or 2.8 percent, to A$1.67, the highest since June 17. Australian media billionaire Bruce Gordon increased his stake in Ten to just under 15 percent, the Australian Financial Review reported, citing Gordon.

United Group Ltd. (UGL AU), a company with businesses ranging from engineering to property services, leapt 64 cents, or 4.8 percent, to A$13.99, the highest in almost three months. United said full-year profit rose 41 percent as it expanded maintenance services in the U.S. and won rail contracts.

Woolworths Ltd. (WOW AU) gained 45 cents, or 1.7 percent, to A$26.95, the highest in two months. Australia's biggest retailer is studying the purchase of a U.S. business with sales of about A$1 billion ($887 million), the Australian Financial Review reported, without saying where it got the information.

To contact the reporter on this story: Shani Raja in Sydney at sraja4@bloomberg.net.