Australia & New Zealand Banking Group Ltd., the country’s most Asia-focused lender, could explore an acquisition of Standard Chartered Plc, although a combination is unlikely, Citigroup Inc. analysts said.
Equinox Minerals Ltd., owner of Africa’s biggest copper mine, said it’s looking to make an acquisition to add to its Lumwana project in Zambia and forecast continued long-term price gains on supply constraints.
National Australia Bank Ltd., the nation’s biggest lender to companies, rose the most in almost a month in Sydney trading on speculation that a potential sale of its U.K. branches will boost return on equity.
Asian developers including Fraser & Neave Ltd. and SP Setia Bhd. are building a record number of apartments in Australia, betting on a market where local companies have been sidelined by tight financing.
National Australia Bank Ltd. said it will respect the regulator’s rejection of a proposed A$13.3 billion ($12.3 billion) takeover of Axa Asia Pacific Holdings Ltd. as the bank plans an official response within days.