Australia Stocks: Aquarius, Babcock Wind, Macquarie, Woolworths

By Shani Raja

Sept. 17 (Bloomberg) -- The S&P/ASX 200 Index rose 66 points, or 1.4 percent, to 4,816.80 at 10:35 a.m. in Sydney. The broader All Ordinaries Index advanced 60.50 points, or 1.3 percent, to 4,860.30, while the futures index expiring in September advanced 1.3 percent to 4,812.

Financial stocks: Macquarie Group Ltd. (MQG AU), Australia's biggest securities company, rose A$1.03, or 2.8 percent, to A$37.83, partly reversing yesterday's 6.7 percent decline. National Australia Bank Ltd. (NAB AU) gained 38 cents, or 1.7 percent, to A$22.28, the most since Sept. 8.

American International Group Inc., the biggest U.S. insurer by assets, has been offered an $85 billion U.S. loan in return for an 80 percent stake in the company, according to a person familiar with the situation.

Separately, Macquarie said it's confident of refinancing debt amid the global credit squeeze, after raising A$6.4 billion ($5 billion) from March 31 to July 31.

Aquarius Platinum Ltd. (AQP AU), a producer of the metal in South Africa and Zimbabwe, plunged 70 cents, or 8.2 percent, to A$7.80, the index's fourth-biggest loser. Platinum futures for October delivery plummeted $107.70, or 9.2 percent, to $1,068.50 an ounce in New York.

Babcock & Brown Wind Partners (BBW AU), the wind energy producer managed by Babcock & Brown Ltd., soared 18 cents, or 20 percent, to A$1.06, the most since October 2005. The company said yesterday that it plans to buy back as much as 10 percent of its shares because it believes the share price doesn't reflect asset values. Separately, The Children's Investment Fund Management today said it acquired a 5.3 percent stake in Babcock Wind.

Ivanhoe Australia Ltd. (IVA AU) fell 1 cent, or 1 percent, to a record low A$1.02. The Australian unit of billionaire Robert Friedland's Ivanhoe Mines Ltd. said it's seeking to start its first copper mine in the country within two years.

Lynas Corp. Ltd. (LYC AU), an Australian miner of minerals used in iPod music players and liquid crystal displays, surged 5 cents, or 8.5 percent, to 70 cents, the fourth-best performer on the benchmark. The company today said it's committed to delivering its Mount Weld Rare Earths project on schedule and ``within financial resources available to Lynas.''

Rio Tinto Group (RIO AU) fell A$2.27, or 2.1 percent, to A$104.58. A measure of six metals traded on the London Metal Exchange dropped 1.4 percent. Zinc declined 0.8 percent, copper 0.9 percent and nickel 3.9 percent.

Tishman Speyer Office Fund (TSO AU), a trust that invests in and manages office properties in the U.S., fell 6 cents, or 5.7, to 98 cents, a record low, after Merrill Lynch & Co. downgraded the company's rating to ``underperform.''

Woolworths Ltd. (WOW AU) rose 24 cents, or 0.9 percent, to A$28.51, the highest since May 23. The retailer may buy all or some of Mitre 10 Australia Ltd., the nation's second-biggest hardware chain, 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.