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PFL - Patties Foods News Story

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Consumer Defensives
Small Cap
Market Cap £130.2m
Enterprise Value £163.8m
Revenue £136.4m
Position in Universe th / 1904

Australia shares near 9-mth peak, NZ stocks scales all-time high

Mon 30th May, 2016 5:37am
By Cecile Lefort and Charlotte Greenfield 
    SYDNEY/WELLINGTON, May 30 (Reuters) - Australian shares held 
near nine-month peaks on Monday, as a rebound in oil prices 
offset weakness in the mining sector, while New Zealand stocks 
scaled a record high, putting both indices on track for a 3 
percent monthly gain. 
    The S&P/ASX 200 index  .AXJO  edged up 0.1 percent or 4 
points to 5,410 by 2:29 pm (0429 GMT), not far from an August 
2014 peak of 5,427.7 touched on Friday. The benchmark has leapt 
3 percent so far in May in the third consecutive month of gain.  
    Energy firms marked sizable gains as oil prices  CLc1  held 
near 8-month peaks. Shares in LNG  LNG.AX  and WorleyParsons 
 WOR.AX  rose nearly 5 percent each, while Santos  STO.AX  added 
1.3 percent.  
    Cleaning company Spotless Group Holdings  SPO.AX  jumped 6.2 
percent after it reaffirmed its earnings forecast and announced 
it may be selling its laundry business. 
    Australian packaged food supplier Patties Foods Ltd  PFL.AX  
exploded 17 percent higher to reach a three-year peak after 
receiving a A$230 million ($165 million) takeover bid from 
private equity firm Pacific Equity Partners (PEP).*:nL4N18Q0PX 
    On the negative ledger, miners struggled as gold prices 
shaved 1 percent after comments by Federal Reserve Chair Janet 
Yellen reinforced expectations of a U.S. interest rate hike. 
    BHP Billiton  BHP.AX  fell 0.4 percent, while fellow global 
miner Newcrest  NCM.AX  shed 2.3 percent. 
    Banks also came under pressure with Commonwealth Bank of 
Australia  CBA.AX  off 1 percent, while Australia & New Zealand 
Bank  ANZ.AX , National Australia Bank  NAB.AX  and Westpac Bank 
 WBC.AX  shed around 0.21 percent. 
    For more individual stocks activity click on  STXBZ  
    New Zealand's benchmark S&P/NZX 50 index  .NZ50  scaled a 
fresh all-time high. It added 0.4 percent or 26.2 points to 
7,018.82 with the index having jumped 11 percent so far this 
    The biggest gainers were Air New Zealand 
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