BHP, Bradken, Foster’s, OZ Minerals: 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 rose 1 percent to 4,766 as of 6:56 a.m. in Sydney. The Bank of New York Australia ADR Index gained 0.1 percent. The S&P/ASX 200 Index fell 0.7 percent to 4,725.80.

Mining companies: Copper futures for July delivery advanced 1 percent to $4.0555 a pound at 11:17 a.m. on the Comex in New York.

BHP Billiton Ltd. (BHP) , the world’s No. 1 mining company, lost 0.5 percent to A$44.53. Its American depositary receipts rose 0.5 percent in New York trading.

Rio Tinto Group (RIO AU), the world’s second-largest mining company by sales, slid 0.5 percent to A$79.65 in Sydney.

Oil stocks: Crude oil for June delivery rose 1.3 percent to $103.88 a barrel on the New York Mercantile Exchange, the highest settlement since May 4.

Woodside Petroleum Ltd. (WPL) , Australia’s second- biggest oil and gas producer, declined 0.1 percent to A$45.82. Rival Santos Ltd. (STO) dropped 1.7 percent to A$14.46.

Bradken Ltd. (BKN) : The supplier of tools and services to mining companies was raised to “buy” from “hold” at Deutsche Bank AG. The stock climbed 0.7 percent to A$7.80.

Invocare Ltd. (IVC) : The funeral home company had its stock rating raised to “buy” from “hold” by analysts at Citigroup Inc. The stock lost 1.2 percent to A$6.66.

Foster’s Group Ltd. (FGL) : The brewer was downgraded to “hold” from “buy” at Deutsche Bank AG and raised to “neutral” from “underperform” at Credit Suisse Group AG. The stock gained 2.7 percent to A$4.53.

Gloucester Coal Ltd. (GCL) : The miner will seek to raise A$325 million ($352 million) through a share sale at less than A$9 apiece to help fund its planned purchases of Donaldson Coal and Monash, the Australian Financial Review reported in its Street Talk column without saying where it got the information. The stock fell 0.5 percent to A$9.90 when it last traded on May 6.

OZ Minerals Ltd. (OZL) : The Australian copper and gold producer had its stock rating raised to “buy” from “hold” by analysts at Royal Bank of Scotland Group Plc. Its shares advanced 2.9 percent to A$1.40.

Virgin Blue Holdings Ltd. (VBA) : The Australian airline and Delta Air Lines Inc., the world’s second-largest carrier, won tentative U.S. approval to collaborate on U.S.-Australia flights, a reversal of an earlier decision, after they adjusted their proposal to include more passengers. Virgin Blue fell 1.6 percent to 31 Australian cents.

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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