BHP, Mirabela, Stockland, Woodside: 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 yesteday’s close unless otherwise stated.

The S&P/ASX 200 Index futures contract due in September fell 0.6 percent to 4,550 as of 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index dropped 0.9 percent. The S&P/ASX 200 Index (AS51) declined 0.1 percent to 4,573.20.

Mining shares: Copper futures for December delivery fell 0.8 percent to close at $3.4705 a pound at 1:13 p.m. in New York.

BHP Billiton Ltd. (BHP) , the world’s largest mining company, slipped 0.3 percent to A$38.44 in Sydney. Its American depositary receipts decreased 1.5 percent in New York trading.

Potash Corp. of Saskatchewan Inc. Chief Executive Officer Bill Doyle said he doesn’t believe that BHP will be the only bidder for the world’s biggest fertilizer producer.

Rio Tinto Group (RIO) , the world’s third-biggest miner, dropped 0.9 percent to A$74.35 in Sydney.

Rio Tinto agreed with large Japanese steelmakers to cut iron-ore prices for the three months ending December by about 13 percent from the previous quarter, Nikkei English News reported, without saying where it got the information.

Oil companies: Crude oil for October delivery lost 0.7 percent to settle at $74.09 a barrel on the New York Mercantile Exchange.

Woodside Petroleum Ltd. (WPL) , Australia’s second-largest oil and gas producer, fell 0.2 percent to A$43.32. Shell Australia Chairman Ann Pickard said the company had no plans to buy Woodside, in which it has a 34 percent stake, according to the Australian Financial Review, citing an interview.

Rival Beach Energy Ltd. (BPT) dipped 1.4 percent to 68.5 Australian cents and Roc Oil Co. Ltd. (ROC) declined 2.6 percent to 37.5 Australian cents.

Australia & New Zealand Banking Group Ltd. (ANZ) : The best-performing bank in Sydney this year may get a decision by the end of this month on the purchase of a stake in Korea Exchange Bank, the Australian Financial Review reported, without saying where it got the information. Shares advanced 0.4 percent to A$23.76.

Bunnings Warehouse Property Trust (BWP) : The property trust was downgraded to “underweight” from “neutral” by analysts at JPMorgan Chase & Co. The stock rose 0.3 percent to A$1.93.

CFS Retail Property Trust (CFX) : The real-estate investment trust that invests in Australian shopping centers was downgraded to “underweight” from “neutral” by analysts at JPMorgan Chase & Co. The shares fell 0.8 percent to A$1.98.

GPT Group (GPT) : Australia’s third-biggest property trust by market capitalization was cut to “underweight” from “neutral” by analysts at JPMorgan Chase & Co. The stock dropped 2.5 percent to A$3.08.

ING Office Fund (IOF AU): The Australian real-estate investment trust was downgraded to “neutral” from “overweight” by analysts at JPMorgan Chase & Co. The shares declined 1.6 percent to 63 Australian cents.

Leighton Holdings Ltd. (LEI) : Australia’s biggest construction company is set to announce Chief Operating Officer David Stewart will succeed Wal King as chief executive office, the Australian Financial Review reported, without saying where it got the information. Leighton shares rose 0.8 percent to A$32.42.

Mirabela Nickel Ltd. (MBN) : The Australian miner may seek as much as A$150 million ($136 million) from investors as early as today to raise proceeds to help finance the Rita nickel mine in Brazil and to cover debt repayments, the Australian Financial Review reported in its Street Talk column. Shares were unchanged at A$1.84.

Stockland (SGP) : Australia’s biggest housing developer was reduced to “neutral” from “overweight” by analysts at JPMorgan Chase & Co. The stock fell 1.2 percent to A$4.10.

Transpacific Industries Group Ltd. (TPI) : The New South Wales government has received several indicative bids for waste-management business WSN Environmental Solutions, the Australian Financial Review reported in its Street Talk column, citing government sources it didn’t name. Potential buyers may include Transpacific, according to the report. The stock advanced 0.9 percent to A$1.09.

To contact the reporter for this story: Lisa Pham in Sydney at lpham14@bloomberg.net.

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net.

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