National Australia Bank Ltd. has the potential to release as much as A$4 billion ($4.2 billion) in capital by selling its U.K. unit and commercial real estate, and its Australian custody business, according to Citigroup Inc.
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 worst performing stock among the country’s four major lenders in 2012, said first-quarter profit 3.6 climbed percent as it expanded business lending margins and cut bad debts.
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., 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.
After Lundin Mining Corp. rejected two takeovers last month and adopted a poison pill, traders are betting more than ever the copper producer may get a bid that hands its owners a windfall of more than half a billion dollars.