BHP, Downer, iiNET, Energy Resources: Australian Stocks Preview

The following is a list of companies whose shares may have unusual moves in Australia. The 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 June slipped 0.2 percent to 4,904 as of 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index gained 0.7 percent. The S&P/ASX 200 Index added 0.3 percent to 4,911.

Mining companies: Copper futures for May delivery fell 2 percent to close at $4.2945 a pound at 1:17 p.m. on the Comex in New York, the biggest drop for a most-active contract since March 9.

BHP Billiton Ltd. (BHP) , the world’s No. 1 mining company, dropped 0.6 percent to A$48.58. Its American depositary receipts were little changed in New York trading.

Rio Tinto Group (RIO AU), the world’s second-largest mining company by sales, lost 1.5 percent to A$85.71 in Sydney.

Oil stocks: Crude oil for May delivery increased 0.8 percent to settle at $107.11 a barrel on the New York Mercantile Exchange.

Woodside Petroleum Ltd. (WPL) , Australia’s second- biggest oil and gas producer, fell 0.5 percent to A$46.62. Rival Santos Ltd. (STO) retreated 1.2 percent to A$15.55.

Aquarius Platinum Ltd. (AQP) : The company reported the purchase of platinum group metal mineral rights by way of the acquisition of Afarak Platinum (Proprietary) Ltd., a private company incorporated in South Africa. Aquarius will hold both directly and indirectly 74 percent of Afarak, a regulatory filing showed. The stock rose 0.4 percent to A$5.44.

Downer EDI Ltd. (DOW) : The Australian engineering company, had its stock rating raised to “buy” from “hold” by analysts at Royal Bank of Scotland Group Plc. Its shares climbed 0.6 percent to A$3.58.

Energy Resources of Australia Ltd. (ERA) : The uranium company had its stock rating cut to “sell” from “neutral” by analysts at UBS AG. Its shares tumbled 11 percent to A$6.88.

iiNET Ltd. (IIN) : The internet service provider was downgraded to “neutral” from “outperform” at Credit Suisse Group AG. The company’s shares dropped 0.7 percent to A$2.78.

Kingsgate Consolidated Ltd. (KCN) : The gold producer had its stock rating cut to “hold” from “buy” by analysts at Royal Bank of Scotland Group Plc and to “hold” from “buy” at Deutsche Bank AG. The stock slumped 4.3 percent to A$8.23.

Leighton Holdings Ltd. (LEI) : Australia’s largest construction company secured a higher price than expected for the 10 percent of allocations not taken up under a A$757 million ($795 million) equity issue, the Australian Financial Review reported in its Street Talk column, without saying where it got the information. Leighton shares declined 1.6 percent to A$28.296.

Webjet Ltd. (WEB) : The online travel-services provider had its stock rating raised to “buy” from “neutral” by analysts at UBS AG. The stock fell 0.5 percent to A$2.05.

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

To contact the editors responsible for this story: Nick Gentle at ngentle2@bloomberg.net.

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