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.
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.