Tishman Speyer led advancers in the ASX 200 index shares with a rise of 21.9% followed by rises in Panaust Ltd. of 17.4%, in Mirvac Group of 17.1%, in ING Industrial of 15.6%, in ING Office Fund of 14.7%.

Commodity stocks rose after crude oil for December delivery soared 5.3% to $64.3 per barrel. Copper futures increased 7.5% and gold prices edged up 1.9%. Aquarius Platinum surged 13.4%, Panoramic Resources rose 12.5%, Murchison Metals advanced 9.2% and Oz Minerals soared 9%.

Babcock & Brown led decliners in the ASX 200 index shares with a fall of 40.7% followed by losses in Babcock & Brown of 24%, in Babcock & Brown of 20.4%, in MacMahon Holdings of 10.7%, and NRW Holdings of 9%.

Financial stocks slumped after the central bank''s quarterly monetary policy statement indicated that big lenders have only passed 69 basis points of the 125 basis points in cuts since September.

Westpac slid 5.2%, Commonwealth Bank of Australia declined 5.2% and Australia & New Zealand Bank dropped 4%.

Company News

National Australia Bank will increase its capital raising to A$3 billion following strong institutional demand, especially after the deal was priced at A$20, which is a 9% discount from the closing price on Friday last week.

The lender says after the institutional placement it will offer retail shareholders the opportunity to participate in a non-underwritten share purchase plan at the institutional placement price.

NAB''s Tier 1 ratio will increase to 8% after the capital raising.

Rio Tinto, Fortescue Cuts Iron Ore Production by 10%

Rio Tinto and Fortescue Metals slashed iron ore production by 10%. Rio announced today that it expects to ship 175 million tons of iron ore from an earlier estimate of 195 million tons.

Similarly Fortescue lowered its annual production estimate by 10% to 2 million tons on planned maintenance shutdown of its port and mine processing plant.