By Shani Raja
Dec. 17 (Bloomberg) -- The S&P/ASX 200 Index rose 64.00 points, or 1.8 percent, to 3,620.20 at 10:36 a.m. in Sydney, the highest since Dec. 10. The broader All Ordinaries Index gained 58.50 points, or 1.7 percent, to 3,557.40, while the futures contract expiring in December advanced 2.1 percent to 3,628.
The following are among the most-active stocks in Australian markets.
Mining shares: BHP Billiton Ltd. (BHP AU), the world’s largest mining company, surged A$1.07, or 3.5 percent, to A$31.71, the highest since Oct. 1. Rio Tinto Group (RIO AU), the world’s third-biggest mining company, gained A$1.36, or 3.5 percent, to A$40.56, the highest since Dec. 1.
The U.S. Federal Reserve cut its benchmark interest rate to a record low and said it will employ “all available tools” to revive the economy.
Centro Properties Group (CNP AU) soared 4 cents, or 49 percent, to 13 cents, the highest since Sept. 9. The world’s fifth-largest shopping-center owner plans to cede control to its banks after failing to refinance A$5.1 billion ($3.4 billion) of debt accumulated as it acquired 650 U.S. malls.
Macquarie Media Group Ltd. (MMG AU), the Australian regional broadcaster, rallied 10 cents, or 17 percent, to 68 cents, the most since Oct. 31. The company said it had a strong balance sheet and that its finances were sound.
Stockland (SGP AU), Australia’s biggest housing developer, plunged 28 cents, or 7.6 percent, to A$3.40, the most since Dec. 2. The company said annual earnings may fall by 24 percent and that it may defer some planned projects after writing down the value of residential properties.
To contact the reporter on this story: Shani Raja in Sydney at sraja4@bloomberg.net.
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