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BUZZ-Australia's Iluka Resources rises, cuts bid for Kenmare Resources

Reuters - UK Focus

** Mineral sands explorer Iluka Resources Ltd (Other OTC: ILKAF - news) rises as much as 4.3 pct

** Lowers bid for Irish titanium miner Kenmare Resources Plc (LSE: KMR.L - news)

** Offers 0.016 Iluka share for each Kenmare share against earlier proposal of 0.036 share

** Stock fourth-biggest percentage gainer on S&P/ASX 100 Index

** On track for best performance since March 24 (Reuters Messaging: shashwat.pradhan.thomsonreuters.com@reuters.net)