BHP, Kingsgate, Leighton, PanAust, Santos, Ten: Australian Equity Preview

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

The S&P/ASX 200 Index futures contract due in December rose 0.5 percent to 4,656 as of 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index gained 3.2 percent. The S&P/ASX 200 Index lost 0.7 percent to 4,624.90.

Mining shares: Copper futures for December delivery rose 1 percent to settle at $3.7935 a pound at 1:20 p.m. on the Comex in New York.

BHP Billiton Ltd. (BHP AU), the world’s largest mining company, declined 0.7 percent to A$40.88 in Sydney. Its American depositary receipts climbed 3.3 percent in New York trading.

Saskatchewan rejected an offer of C$370 million ($360 million) of infrastructure investment from BHP, which is trying to win support for its bid for Potash Corp. of Saskatchewan Inc., according to an e-mail from an official of the Canadian province.

Rio Tinto Group (RIO AU), the world’s third-biggest miner, slipped 1.7 percent to A$81.21 in Sydney.

Oil producers: Crude oil for November delivery rose 2.9 percent to settle at $81.77 a barrel on the New York Mercantile Exchange.

Woodside Petroleum Ltd. (WPL AU), Australia’s second- biggest oil and gas producer, slipped 0.5 percent to A$44.15.

Santos Ltd. (STO AU) dropped 2.2 percent to A$12.46. The Australian government may delay approvals for proposed coal-bed methane projects in Queensland state after Origin Energy Ltd. said it found traces of banned chemicals in exploration wells, Macquarie Group Ltd. said.

Gold producers: Gold futures for December delivery rose 0.6 percent to settle at $1,344.20 at 1:52 p.m. in New York.

Newcrest Mining Ltd. (NCM AU), Australia’s biggest gold producer, fell 1.8 percent to A$39.78.

CFS Retail Property Trust (CFX AU): The real-estate trust that invests in shopping centers sold A$450 million ($438 million) of bonds in the biggest domestic debt issue by an Australian property company in more than four years. Its shares declined 0.3 percent to A$1.915.

Fortescue Metals Group Ltd. (FMG AU): The cost of Fortescue’s proposed expansion to its Solomon iron-ore project in Western Australia has climbed, the Australian Financial Review reported, citing a prospectus to investors for a high- yield bond sale. Fortescue shares sank 2.5 percent to A$6.20.

Kingsgate Consolidated Ltd. (KCN AU): The second-largest Australia-traded gold producer by market value agreed to buy Dominion Mining Ltd. (DOM AU) for A$376 million in shares, boosting output by about 60 percent. Kingsgate shares lost 0.3 percent to A$11.71 when they last traded on Oct. 19, and Dominion slumped 5.2 percent to A$2.73.

Leighton Holdings Ltd. (LEI AU): ACS, the Spanish builder seeking to gain control of Hochtief AG, said Australia’s market regulator rejected a request by the German company that would have forced a buyout offer for Leighton. Leighton shares fell 1.5 percent to A$37.21.

OZ Minerals Ltd. (OZL AU): The mining company’s stock was lowered to “hold” from ”accumulate” by E.L. & C. Baillieu Stockbroking Ltd. OZ Minerals fell 2.8 percent to A$1.545.

PanAust Ltd. (PNA AU): The owner of the second-largest copper mine in Laos had its rating cut to “equal-weight” from “overweight” by analysts at Morgan Stanley. The stock dropped 3.1 percent to 77.5 Australian cents.

Ten Network Holdings Ltd. (TEN AU): Consolidated Press Holdings Ltd., a closely held company controlled by billionaire James Packer, plans to sell Ten Network’s Eye Corp outdoor advertising unit and scrap proposals for additional news programs after acquiring a 17.88 percent stake in the company, the Australian Financial Review said, citing unnamed people close to Packer. Ten’s shares jumped 9.6 percent to A$1.545.

Westpac Banking Corp. (WBC AU): Australia’s second-largest bank added A$200 million of bonds to its existing line of floating-rate notes due in April 2013, according to a statement to the stock exchange. The stock fell 0.6 percent to A$22.59.

Woolworths Ltd. (WOW AU), Australia’s biggest retailer, had its stock rating cut to “neutral” from “buy” by analysts at UBS AG led by Ben Gilbert. Woolworths yesterday reported a 4.1 percent increase in first-quarter sales, led by the company’s supermarkets. Its shares lost 0.3 percent to A$28.88.

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.

Press spacebar to pause and continue. Press esc to stop.

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.