Australia Stocks: ANZ Bank, Austal, BHP, Incitec, OZ, Woodside

By Shani Raja

Nov. 14 (Bloomberg) -- The S&P/ASX 200 Index rose 144.70 points, or 3.9 percent, to 3,842 at 10:20 a.m. in Sydney, the biggest gain in almost two weeks. The broader All Ordinaries Index advanced 139.20 points, or 3.8 percent, to 3,811.60, while the futures index expiring in December gained 3.4 percent to 3,883.

Mining stocks: BHP Billiton Ltd. (BHP AU), the world's largest mining company, surged A$1.90, or 7.6 percent, to A$26.90, snapping three days of losses. Rio Tinto Group (RIO AU), the world's third biggest mining company, rallied A$6, or 8.7 percent, to A$75, the most since the end of October.

OZ Minerals Ltd. (OZL AU), the world's second-largest zinc mining company, rose 4 cents, or 4.9 percent, to 96 cents, reversing yesterday's 6.6 percent decline. Minara Resources Ltd. (MRE AU), the Australian nickel producer controlled by Glencore International AG, soared 4 cents, or 12 percent, to 38 cents, the most in almost two weeks.

Zinc rose 4.9 percent, copper 1.4 percent and nickel 9.1 percent on the London Metal Exchange.

Oil companies: Woodside Petroleum Ltd. (WPL AU), the nation's No. 2 oil producer, rallied A$1.35, or 3.7 percent, to A$38.25, the most since Nov. 4. Santos Ltd. (STO AU) gained 55 cents, or 4.3 percent, to A$13.50.

Crude oil rose more than $2 a barrel in New York on speculation that a 10 percent drop in prices over the previous two days was larger than justified. Crude for December delivery rose 3.7 percent to $58.24 a barrel in New York.

U.S. stocks staged a late-day rally to climb the most in two weeks as investors snapped up the cheapest energy shares on record. The S&P 500 added 6.9 percent to 911.29, reversing a slide of 3.9 percent.

Asciano Group (AIO AU), the Australian coal transporter that rejected a buyout offer from David Bonderman's TPG Capital, surged 15 cents, or 10 percent, to A$1.65, the highest since Nov. 10. The shares soared for a third day after Asciano said it doesn't need to secure major financing for 18 months and has no plans to sell stock.

Australia and New Zealand Banking Group Ltd. (ANZ AU), the nation's fourth-largest bank by market value, rose 72 cents, or 5.1 percent, to A$14.77, the most since Nov. 3. ANZ said it will cut more than 500 jobs to cushion the company from the impact of the global credit crisis.

Austal Ltd. (ASB AU) leapt 37 cents, or 23 percent, to A$1.99, the most since 2003. The Perth-based shipbuilder secured a $1.6 billion contract to build U.S. defense ferries, three weeks after cutting almost 100 staff, the Australian Financial Review reported, citing Chief Executive Officer Bob Browning and Chairman John Rothwell.

Incitec Pivot Ltd. (IPL AU), Australia's largest fertilizer maker, sank 59 cents, or 16 percent, to A$3.09, a record decline and the benchmark's worst performer, after the company raised A$819 million ($545 million) selling new shares to institutions.

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