Centro Property Group, Goodman Group, Paperlinx: Australian Stock Preview
Stock Chart for Goodman Group (GMG)
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 fell 0.13 percent to 4,674 as of 7:10 a.m. in Sydney. The Bank of New York Australia ADR Index gained 2 percent. The S&P/ASX 200 Index rose 0.8 percent to 4,684.90.
Mining shares: Copper rose for the fourth time in five sessions as the dollar declined, boosting demand for metals as alternative investments. Copper futures for December delivery rose 0.3 percent to $3.7875 a pound at 1:31 p.m. on the Comex in New York.
BHP Billiton Ltd. (BHP AU), the world’s largest mining company, added 1.2 percent to A$41.99 in Sydney.
Rio Tinto Group (RIO AU), the world’s third-biggest miner, gained 1.8 percent to A$83.79 in Sydney.
Oil producers: Crude oil climbed 0.3 percent as the dollar fell against the euro for the first time in three days.
Gold producers: Gold gained for the first time in three days in New York as a sliding dollar spurred demand for the metal as an alternative asset. Gold futures for December delivery rose 1.5 percent to settle at $1,342.50 an ounce at 1:59 p.m. in New York.
Newcrest Mining Ltd. (NCM AU), Australia’s biggest gold producer, added 0.03 percent to A$39.33.
Centro Properties Group (CNP AU): The Australian shopping- mall owner is seeking buyers for more than A$4 billion ($3.9 billion) of assets, according to a person with knowledge of the matter. Centro Properties Group shares surged 6.5 percent to 16.5 Australian cents.
Goodman Group (GMG AU): Australia’s largest industrial real estate investment trust led a A$1.47 billion ($1.44 billion) group offer to buy ING Industrial Fund, owner and manager of more than 60 commercial sites and business parks. Goodman Group shares gained 1.6 percent to 64.5 Australian cents.
Paperlinx Ltd. (PPX AU): Australia’s largest papermaker was downgraded to “underperform” from “neutral” at Credit Suisse Group. Paperlinx shares added 1.1 percent to 46 Australian cents.
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