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PPT – PERPETUAL LIMITED – up 12.27 per cent, or $4.72, to $43.20

Shares in the investment and trustee group jumped to a six-month high, although the company has not announced any news.

The unusual price action prompted rumours it was a takeover target, said CMC Markets chief market stategist Michael McCarthy.

NCM – NEWCREST – up 3.8 per cent, or 93 cents, to $25.43

The gold miner will pay Toronto-listed Imperial Metals Corp $A1.1 billion for a majority stake in a Canadian copper and gold mine.

KEY – KEY PETROLEUM LTD – up 33.33 per cent, or 0.2 cents, to 0.8 cents

A company subsidiary has signed a deal with Santos for processing raw gas from the company’s Tanbar Gas Project at Santos’ processing plant in Moomba, South Australia.