AWB, BHP Billiton, Graincorp, Hastings, 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 fell 0.4 percent to 4,477 as of 6:55 a.m. in Sydney. The Bank of New York Australia ADR Index gained 1.1 percent. The S&P/ASX 200 Index declined 0.1 percent to 4,524.10.

Mining shares: Copper futures for September delivery gained 1.4 percent to $3.29 a pound at 1:16 p.m. in New York. Earlier, the price reached $3.297, the highest level for a most-active contract since May 4.

BHP Billiton (BHP AU), the world’s largest mining company, increased 0.7 percent to A$40.46 in Sydney. Its American depositary receipts gained 0.4 percent in New York trading. Rio Tinto Group (RIO AU), the world’s third-largest mining company, advanced 0.7 percent to A$71.50 in Sydney.

Guinea doesn’t recognize Rio Tinto’s agreement to sell a $1.35 billion stake in the Simandou iron ore deposit to Aluminum Corp. of China Ltd., Mines Minister Mahmoud Thiam said in an e- mail.

Oil companies: Crude oil rose for the first time in a week, gaining 1.8 percent to settle at $78.36 a barrel on the New York Mercantile Exchange.

Woodside Petroleum Ltd. (WPL AU), Australia’s second- largest oil and gas producer, fell 1 percent to A$41.72. Santos Ltd. (STO AU) dropped 1.7 percent to A$13.57.

AWB Ltd. (AWB AU) and Graincorp Ltd. (GNC AU): Graincorp will buy into AWB’s grain trading business in Geneva and half of its Australian trading unit after Gavilon LLC walked away from talks on a deal, the Australian Financial Review reported in its Street Talk column, without saying where it got the information. AWB plunged 6.8 percent to 95.5 Australian cents. Graincorp rose 0.5 percent to A$6.02.

Hastings Diversified Utilities Fund (HDF AU): Canada’s ATCO Group may have approached Hastings Diversified Utilities Fund to buy its Epic Energy pipeline, and an unnamed Canadian fund may be interested in Hastings’s stake in South East Water in the U.K., the Australian Financial Review reported in its Street Talk column, without citing anyone. Hastings fell 1.1 percent to A$1.32.

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

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