Australia shares steady; Crown and Fortescue jump

The benchmark S&P/ASX 200 index .AXJO fell 2.1 points to 4,750.8 at 0236 GMT, off a morning high of 4,786.3.

New Zealand's benchmark NZX 50 index .NZ50 rose 0.4 percent to 3,177.2.

STOCKS ON THE MOVE

* Shares in asset manager Babcock & Brown Infrastructure BBI.AX fell 13.2 percent or A$0.007 to A$0.046 after the firm said an independent expert declared a proposed deal with Canada's Brookfield Group BAMa.TOBIP.N was fair and reasonable. [ID:nSYU007366]

0234 GMT

* Casino group Crown Ltd CWN.AX Shares jumped 8.1 percent to A$9.18 after Crown Chairman James Packer increased his stake in the company on Friday by 3 percent to just over 40 percent.

2350 GMT

* Shares in Fortescue Metals Group Ltd (ASX: FMG.ax) , Australia's third-largest iron ore miner, gained 2.4 percent after the company reported a near-20 percent jump in ore shipped in the September quarter as it looked to secure up to $6 billion in development finance. [ID:nSYD501366]