Australia Stocks: Coeur, Lihir, Moly Mines, Santos, St. George

By Shani Raja

Aug. 12 (Bloomberg) -- The S&P/ASX 200 Index advanced 4.30 points, or 0.1 percent, to 5,030.40 at 12:50 p.m. in Sydney. The broader All Ordinaries Index declined 2.70 points to 5,066.60, while the futures index expiring in September lost 0.3 percent to 5,007.

Gold producers: Newcrest Mining Ltd. (NCM AU) slumped 65 cents, or 2.7 percent, to A$23.60, the lowest since Sept. 7, 2007. Lihir Gold Ltd. (LGL AU) plunged 13 cents, or 5.7 percent, to A$2.14, the lowest since March 2006.

Gold futures for December delivery dropped $36.50, or 4.2 percent, to $828.30 an ounce on the Comex division of the New York Mercantile Exchange, the lowest closing price for a most- active contract since Dec. 24. A measure of six metals including copper and zinc fell 1 percent in London.

APN News & Media Ltd. (APN AU), the publisher of more than 100 newspapers in Australia and New Zealand, dropped 25 cents, or 7.3 percent, to A$3.20, among the benchmark's ten biggest losers. APN said first-half profit declined as slower economic growth forced companies to cut back on advertising.

Bendigo & Adelaide Bank Ltd. (BEN AU), an Australian regional lender, rose for a second day, adding 16 cents, or 1.4 percent, to A$11.57, the highest since June 26, after saying full-year profit increased 40 percent after gaining new customers.

Bradken Ltd. (BKN AU), an Australian supplier of tools and services to mining and rail companies, rose 29 cents, or 3 percent, to A$9.99, the highest since December, after reporting 18 percent growth in net profit to A$58 million in the year to June 30, 2008.

Cochlear Ltd. (COH AU), maker of the world's biggest-selling hearing implant, lost A$1.93, or 4.1 percent, to A$44.89, the most in two months. Cochlear reported profit growth slowed for a third consecutive half as sales in the U.S. declined and revenue gains in Europe and the Asia-Pacific moderated.

Coeur d'Alene Mines Corp. (CXC AU), the biggest decliner on the Philadelphia Stock Exchange Gold and Silver Index this year, tumbled 44 cents, or a record 18 percent, headed for a record low A$1.97. The company, whose shares slumped 9.4 percent in Sydney yesterday, plunged the most in six years in New York after earnings missed estimates and metal prices fell. Coeur was the biggest loser on the S&P/ASX 200 Index.

QRSciences Holdings Ltd. (QRS AU) added 1 cent, or 11 percent, to 16 cents, the highest since June 2, after saying it exercised an option to buy the remaining shares of Spectrum San Diego Inc. for about $9.32 million. Spectrum provides hi-tech security devices to the U.S. government.

Mesoblast Ltd. (MSB AU), an Australian biotechnology company, gained 14 cents, or 12 percent, to A$1.30, eclipsing yesterday's 6.8 percent decline. The company said preclinical trials of its stem-cell product may be ``highly effective'' in treating knee osteoarthritis.

Minara Resources Ltd. (MRE AU), Australia's second-largest nickel producer, plunged 21 cents, or 15 percent, to A$1.20, making it the second-biggest loser on the benchmark. Minara's shares fell for the second day after UBS AG halved the company's price target and cut its rating to ``neutral'' from ``buy'' on lower production and prices.

Moly Mines Ltd. (MOL AU), seeking to build the Spinifex Ridge molybdenum mine in Western Australia, slumped 16 cents, or 6.5 percent, to A$2.30, the most in almost a week. Moly said it's seeking a so-called bridging loan of $150 million by next month to keep the project on track to start production in 2010.

Santos Ltd. (STO AU), Australia's third-biggest oil and gas producer, declined 66 cents, or 3.9 percent, to A$16.34, the lowest since April 30. Crude oil fell to a 14-week low on signs that the U.S. economic slump will extend into 2009, crimping fuel demand. Crude for September delivery fell 75 cents, or 0.7 percent, to settle at $114.45 a barrel at 2:50 p.m. on the New York Mercantile Exchange, the lowest close since May 1.

St. George Bank Ltd. (SGB AU), which has agreed to be bought by Westpac Banking Corp., gained 93 cents, or 3.1 percent, to A$31.16, the highest since June 2. St. George said profit will grow after it avoided the credit-market turmoil that wiped $66 billion off the value of the nation's biggest banks this year.

WorleyParsons Ltd. (WOR AU), Australia's biggest engineering company, rose A$1.22, or 3.7 percent, to A$34.67, poised for its highest close since July 2. The company posted a 46 percent increase in second-half profit on acquisitions and increased demand from the energy and mining industries.

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