Australia Stocks: Felix Resources, Paladin, Platinum Australia

By Shani Raja

Oct. 15 (Bloomberg) -- The S&P/ASX 200 Index fell 54.20 points, or 1.3 percent, to 4,281.00 at 10:43 a.m. in Sydney. The broader All Ordinaries Index lost 57.70 points, or 1.3 percent, to 4,253.80, while the futures index expiring in December declined 2.2 percent to 4,306.

Felix Resources Ltd. (FLX AU), an Australian coal producer, plunged A$1.35, or 12 percent, to A$10.05, the benchmark's third-worst performer. Felix said global market volatility meant the company was unable to complete an earlier sale as planned, adding that it has been approached by new potential acquirers.

Paladin Energy Ltd. (PDN AU), the Australian company producing uranium in Namibia, tumbled 33 cents, or 13 percent, to A$2.27, the biggest loser on the index. Paladin said the global credit crunch may stymie planned industry projects, cutting supplies of the nuclear fuel.

Platinum Australia Ltd. (PLA AU), which owns mines in South Africa and Australia, surged 7 cents, or 9 percent, to 85 cents, the most since Aug. 6. Platinum futures rose the most in three weeks after the U.S. announced a $250 billion plan to support banks, easing concern that faltering economic growth will hurt demand for industrial metals.

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