BHP Billiton, Boss, Galaxy Resources, iSOFT: Australian Stocks 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 December gained 0.2 percent to 4,611 as of 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index retreated 0.9 percent. The S&P/ASX 200 Index slipped 1.3 percent to 4,582.90.

Mining shares: A measure of primary metals traded in London dropped 0.4 percent yesterday after the dollar rebounded, eroding demand for commodities as alternative investments.

BHP Billiton Ltd. (BHP AU), the world’s largest mining company, declined 1.2 percent to A$38.91 in Sydney. Its American depositary receipts fell 0.3 percent in New York trading.

BHP expects a shift toward monthly pricing agreements for iron ore, Mike Henry, president of marketing, said in an interview at a Steel Business Briefing conference in London.

Rio Tinto Group (RIO AU), the world’s third-biggest miner, fell 0.6 percent to A$76.77 in Sydney.

Oil companies: Oil for November delivery gained 2.7 percent to settle at $79.97 a barrel in New York yesterday after U.S. second-quarter gross domestic product and weekly jobless claims beat economists’ estimates

Woodside Petroleum Ltd. (WPL AU), Australia’s second- biggest oil and gas producer, slipped 1.3 percent to A$43.88.

Australia & New Zealand Banking Group Ltd. (ANZ AU): The lender has joined ten others as part of the debt group for QR National ahead of its planned initial share sale, the Australian Financial Review said in its Street Talk column, without saying where it got the information. ANZ shares dropped 1.9 percent to A$23.68.

Boss Energy Ltd. (BOE AU): The oil and gas explorer halted trading in its shares pending an announcement relating to a capital raising and proposed acquisition, it said in a statement. The stock jumped 50 percent to 4.2 Australian cents.

Galaxy Resources Ltd. (GXY AU): The company, which is building a lithium project in Australia and China, requested suspension of quotation of its shares pending an announcement relating to its Mt Cattlin project and future financing arrangements, it said in a statement. Galaxy’s shares surged 11 percent to A$1.44 on Sept. 29 when they last traded.

iSOFT Group Ltd. (ISF AU): The health information software developer was downgraded to “sell” from “hold” at Deutsche Bank AG. Its shares slumped 3.9 percent to 12.5 Australian cents.

To contact the reporter for this story: Shani Raja in Sydney at sraja4@bloomberg.net.

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

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