BHP, Charter Hall Retail, Ivanhoe: 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 advanced 0.3 percent to 4,676 as of 11:57 p.m. in Sydney. The S&P/ASX 200 Index fell 0.4 percent to 4,667.50.
Mining companies: July delivery copper dropped as much as 1.2 percent to $4.135 a pound on the Comex in New York.
BHP Billiton Ltd. (BHP) , the world’s No. 1 mining company, dropped 0.5 percent to A$43.91. BHP said it has suspended production at its Kwinana nickel refinery near Perth because of a shortage of hydrogen supply.
Rio Tinto Group (RIO AU), the world’s second-largest mining company by sales, dipped 0.1 percent to A$80.60.
Charter Hall Retail REIT (CQR) : The Australian property trust was raised to “buy” at Deutsche Bank AG. It was previously rated “hold,” according to data compiled by Bloomberg. The company’s shares climbed 0.6 percent to A$3.29.
Ivanhoe Australia Ltd. (IVA) : The copper and gold mining company is mulling a bid for the rest of Exco Resources Ltd. it doesn’t own ahead of the company’s planned meeting to vote on the sale of its Cloncurry copper project to Xstrata Plc, the Australian Financial Review reported in its Street Talk column, citing unidentified sources it said were close to the two companies. Ivanhoe’s shares rose 0.3 percent to A$3.08.
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