By Ian C. Sayson and Malcolm Scott
Nov. 5 (Bloomberg) -- The S&P/ASX 200 Index advanced 85.70 points, or 2 percent, to 4,300.80 as of 10:31 a.m. in Sydney, rebounding from a 0.2 percent loss yesterday. The S&P/ASX 200 Index futures contract expiring in December added 2.4 percent to 4,310, while the All Ordinaries Index added 87.40, or 2.1 percent, to 4,257.20.
The following are among the most active companies in Australian trading. Stocks symbols are in parentheses after company names.
Mining stocks: BHP Billiton Ltd. (BHP AU), the world's largest mining company, rose A$1.63, or 5.6 percent, to A$30.75, heading for its highest close since Oct. 14 on higher metal prices. Rio Tinto Group (RIO AU), the third-largest, climbed A$4.52, or 5.7 percent, to A$84.23.
A measure of six metals traded on the London Metal Exchange rose 4.5 percent, its second day of gain. Copper added 5.2 percent, nickel 8 percent, and zinc 5.9 percent.
Separately, BHP, seeking regulatory clearance for its takeover offer for Rio Tinto Group, said it got a Statement of Objections from the European Commission. BHP is ``continuing to work cooperatively'' with the commission and will respond ``in due course to address the issues raised,'' the Melbourne-based company said today in a statement posted on its Web site.
Oil companies: Woodside Petroleum Ltd. (WPL AU), Australia's second-biggest oil producer, rose A$1.41, or 3.2 percent, to A$45.38 after the fuel climbed more than 10 percent, the most in six weeks. Santos Ltd. (STO AU), the third-biggest oil producer, advanced 85 cents, or 6 percent, to A$14.98, heading for its highest close since Oct. 8.
Crude oil rose more than $6 a barrel as global stock indexes advanced and the dollar dropped against the euro, increasing the appeal of commodities. Oil rose to $70.53 a barrel yesterday, its sharpest gain since Sept. 22.
U.S.-Related Stocks: Westfield Group (WDC AU), the world's biggest shopping mall owner by market value, gained 43 cents, or 2.7 percent, to A$16.21 after U.S. stocks advanced in the biggest presidential Election Day rally in 24 years. James Hardie Industries NV (JHX AU), the biggest seller of home siding in the U.S., added 12 cents, or 2.4 percent, to A$5.11.
U.S. stocks rallied led by energy and banking shares, on rebounding commodity prices and speculation the Treasury will bail out more financial companies. The S&P 500 added 4.1 percent to 1,005.72.
Babcock & Brown Infrastructure Group (BBI AU), an owner of ports and energy transmission lines in Australia, Europe and the U.S., slumped 3 cents, or 12 percent, to 22.5 Australian cents after it suspended payments of dividends to preserve cash flows and reduce debt. The stock is heading for its worst loss since Oct. 10.
Bendigo & Adelaide Bank Ltd. (BEN AU), an Australian regional lender, declined 18 cents, or 1.3 percent, to A$13.32, its first loss in five sessions after the bank said it's withdrawing the sale of convertible preferred shares.
To contact the reporter on this story: Ian C. Sayson in Manila at isayson@bloomberg.net; Malcolm Scott in Sydney at Mscott23@bloomberg.net
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