By Shani Raja
March 13 (Bloomberg) -- Australia’s S&P/ASX 200 Index climbed 2.7 percent to 3,321.50 as of 10:54 a.m. in Sydney, the biggest gain since Jan. 27. The following are among the most active shares in the Australian market. Stock symbols are in parentheses after company names.
Oil companies: Oil rose more than $4 a barrel yesterday, the biggest gain in three weeks, before the Organization of Petroleum Exporting Countries meets this weekend to consider a fourth production reduction. Crude for April delivery rose 11 percent to settle at $47.03 a barrel at yesterday in New York.
BHP Billiton Ltd. (BHP AU), the world’s largest mining company, gained 2.7 percent to A$31.16, the highest since Feb. 17. Woodside Petroleum Ltd. (WPL AU), Australia’s second-largest oil and gas producer, rose 3.2 percent to A$37.13, the highest since Jan. 7.
Financial stocks: U.S. stocks posted the biggest three-day gain since November after Bank of America Corp. said it’s profitable. The S&P 500 Index increased 4.1 percent to 750.74, while the S&P 500 Financial Index jumped 10 percent, giving it a four-day surge of 33 percent.
National Australia Bank Ltd. (NAB AU), the nation’s biggest lender by assets, rallied 3.4 percent to A$17.29. Australia & New Zealand Banking Group Ltd. (ANZ AU) climbed 3.4 percent to A$13.30.
Virgin Blue Holdings Ltd. (VBA AU), Australia’s second- biggest airline, surged 9.1 percent, the most since Feb. 24, to 18 cents. “There is no reason to think that any material abnormal or extraordinary profit will be recorded, other than as previously disclosed,” the company said in response to a stock- exchange price query.
To contact the reporter on this story: Shani Raja in Sydney at sraja4@bloomberg.net.
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