Gunns, Santos, Tatts Group, Wattyl, Woodside: Australian Equity Preview
The following is a list of companies whose shares may rise or fall in Australia. The preview includes news announced after markets shut yesterday unless otherwise stated.
The S&P/ASX 200 Index futures contract expiring in June declined 0.4 percent to 4,421 as of 11:59 p.m. in Sydney. The S&P/ASX 200 Index dropped 0.6 percent to 4,429.70. The Bank of New York Australia ADR Index fell 2 percent on May 28.
Oil companies: Crude oil for July delivery gained as much as 56 cents, or 0.8 percent, to $75 a barrel, in electronic trading on the New York Mercantile Exchange.
Gunns Ltd. (GNS AU): Deutsche Bank AG has become a substantial shareholder of Gunns, the Australian timber products company said in a statement to the Australian stock exchange. Deutsche has accumulated voting power of 5.51 percent, the statement said. Gunns jumped 22 percent to 48 Australian cents.
Tatts Group Ltd. (TTS AU): Australia’s third-largest gambling company was downgraded to “underweight” from “neutral” at JPMorgan Chase & Co. The shares lost 0.4 percent to A$2.37.
Wattyl Ltd. (WYL AU): The Australian paint maker had its rating cut to “neutral” from “outperform” by analysts led by Chris Counihan at Credit Suisse Group AG. Its rating was also downgraded to “neutral” from “outperform” by analysts led by Andrew Wackett at Macquarie Equities Research, according to a research note. Its shares climbed 2.8 percent to A$1.285.