Arrow, Duet, NAB, Rio, Qantas Airways, Santos: Australian Stock Preview

The following is a list of companies whose shares may rise or fall in Australia. This preview includes news announced after markets closed yesterday. All prices are from yesterday’s close unless otherwise stated.

The S&P/ASX 200 Index futures contract due in September climbed 0.4 percent to 4,402 as of 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index fell 1.6 percent. The S&P/ASX 200 Index gained 0.3 percent to 4,409.90.

Mining shares: Copper futures for September delivery slid 1.5 percent to $3.009 a pound in New York.

BHP Billiton (BHP AU), the world’s largest mining company, rose 0.5 percent to A$38.61 in Sydney. Its American depositary receipts dropped 2.3 percent in New York trading.

Rio Tinto Group (RIO AU), the world’s third-largest mining company, gained 1 percent to A$68.77 in Sydney.

Oil companies: Crude oil fell 1.5 percent to $74.95 a barrel on the New York Mercantile Exchange, dropping for the first time in four days as the dollar strengthened against the euro.

Woodside Petroleum Ltd. (WPL AU), Australia’s second- largest oil and gas producer, increased 0.1 percent to A$42.57. Rival Santos Ltd. (STO AU) rose 0.8 percent to A$14.11.

Gold producers: Gold futures for August delivery dropped 0.9 percent to $1,198.80 in New York.

Newcrest Mining Ltd. (NCM AU), Australia’s biggest gold producer, increased 2 percent to A$34.98. Rival Eldorado Gold Corp. (EAU AU) rose 5.9 percent to A$19.79. St. Barbara Ltd. (SBM AU) climbed 6.2 percent to 34.5 Australian cents.

Arrow Energy Ltd. (AOE AU): Royal Dutch Shell Plc and PetroChina Co. have been given approval from the Chinese government for their A$3.4 billion acquisition of Australian coal-seam gas company Arrow Energy, the Australian Financial Review reported, citing an unidentified PetroChina spokesman. Arrow gained 0.4 percent to A$4.94.

Charter Hall Retail REIT (CQR AU): The Australian real estate investment trust was raised to “buy” from “neutral” at UBS AG by equity analyst John Freedman. Charter Hall Retail increased 0.9 percent to 55.5 Australian cents.

Cromwell Group (CMW AU) and Qantas Airways Ltd. (QAN AU): Cromwell Group is seeking to raise as much as A$120 million to buy Qantas’s global headquarters in Sydney, the Australian Financial Review reported. Qantas gained 0.4 percent to A$2.31. Cromwell shares rose 1.5 percent to 69 Australian cents when they last traded on July 9.

DUET Group (DUE AU): The energy asset investment company was raised to “outperform” from “neutral” at Credit Suisse Group AG by equity analyst Sandra McCullagh. Duet shares climbed 0.3 percent to A$1.625.

National Australia Bank Ltd. (NAB AU): The Australian bank lender agreed to invest 300 million pounds into its U.K. unit Clydesdale Bank to assist the unit to take advantage of an expected growth in mortgage lending, the Australian Financial Review reported. National Australia Bank increased 0.9 percent to A$24.25.

To contact the reporters for this story: Lisa Pham in Sydney at lpham14@bloomberg.net. Shani Raja in Sydney at sraja4@bloomberg.net.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.