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Alumina, BHP, Lend Lease, Rio, Qantas: Australian Stock 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 0.6 percent to 4,714 as of 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index dropped 0.9 percent. The S&P/ASX 200 Index dropped 1.8 percent to 4,696.10.

Mining companies: Copper futures for July delivery rose 0.5 percent to $3.933 a pound on the Comex in New York on signs of rising demand in China, the world’s largest metal buyer.

BHP Billiton Ltd. (BHP) , the world’s No. 1 mining company, sank 2.6 percent to A$44.13. Its American depositary receipts slipped 1.1 percent in New York trading.

Rio Tinto Group (RIO AU), the world’s second-largest mining company by sales, lost 2 percent to A$79.79 in Sydney. Rio had its share-price estimates reduced at Morgan Stanley, which cited cost pressures from rising energy and raw-material prices, and currency movements. Rio’s Sydney-traded shares were cut to A$105 from A$115 and its London-traded stock was reduced to 5,900 pence from 6,600 pence.

Oil stocks: Crude oil for June delivery increased 0.8 percent to settle at $98.97 a barrel on the New York Mercantile Exchange.

Woodside Petroleum Ltd. (WPL) , Australia’s second- biggest oil and gas producer, fell 2.5 percent to A$45.03. Rival Santos Ltd. (STO) slumped 3.1 percent to A$14.20.

Gold producers: Gold futures for June delivery rose 0.4 percent to settle at $1,506.80 on the Comex in New York.

Newcrest Mining Ltd. (NCM) , Australia’s biggest gold producer, dropped 3.3 percent to A$38.19.

Alumina Ltd. (AWC) : Alcoa Inc.’s partner in Melbourne had its stock rating raised to “buy” from “hold” by analysts at Royal Bank of Scotland Group Plc. Its shares slumped 4.6 percent to A$2.26.

GUD Holdings Ltd. (GUD) : The maker of electrical appliances had its stock rating raised to “buy” from “neutral” by analysts at UBS AG. The stock declined 1.5 percent to A$9.26.

Lend Lease Group (LLC) : Lend Lease’s Barangaroo development on Sydney Harbor will be reviewed by an independent party as talks between the developer, the state authority overseeing the project and those opposed to the development continue, Australian Associated Press reported, citing the state’s Planning Minister Brad Hazzard. Shares in Australia’s largest developer lost 2 percent to A$8.63.

Qantas Airways Ltd. (QAN) : Australia’s biggest airline plans to start a premium airline, based in Singapore, to expand in Asia and cut costs, the Australian Financial Review reported, citing sources that it didn’t identify. Qantas shares retreated 0.9 percent to A$2.12.

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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