BHP, Infigen, Qantas, QBE Insurance: 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 0.3 percent to 4,599 at 6:56 a.m. in Sydney. The Bank of New York Australia ADR Index rose 2.7 percent. The S&P/ASX 200 Index gained 0.5 percent to 4,585.

Mining companies: Copper for September delivery climbed 3 percent on the Comex in New York as industrial production expanded more than forecast in China.

BHP Billiton Ltd. (BHP) , the world’s No. 1 mining company, slipped 0.2 percent to A$43.05. Its American depositary receipts advanced 2.5 percent in New York trading.

Rio Tinto Group (RIO AU), the world’s second-largest mining company by sales, was little changed at A$80.21 in Sydney.

Gold producers: Gold futures for August delivery rose 0.6 percent on the Comex in New York.

Newcrest Mining Ltd. (NCM) , Australia’s biggest gold producer, added 0.1 percent to A$37.49.

Oil stocks: Crude oil rose the most in almost four weeks in New York as U.S. retail sales fell less than expected.

Woodside Petroleum Ltd. (WPL) , Australia’s second- biggest oil and gas producer, lost 0.1 percent to A$43.53.

Santos Ltd. (STO) , Australia’s third-largest oil and gas producer, climbed 1 percent to A$14.09.

Energy Resources of Australia Ltd. (ERA) : The uranium company was raised to “outperform” from “market perform” at BMO Capital Markets. The stock slumped 4.9 percent to A$4.04.

Fortescue Metals Group Ltd. (FMG) : The iron-ore company was raised to “buy” from “neutral” at UBS AG. The shares fell 1 percent to A$6.26.

IOOF Holdings Ltd. (IFL) : The Australian investment manager was raised to “outperform” from “neutral” at Credit Suisse Group AG. Its shares dropped 1.1 percent to A$6.46.

Infigen Energy (IFN) : The Australian developer of renewable-energy projects was raised to “neutral” from “underperform” at Credit Suisse Group AG. The stock surged 7.6 percent to 35.5 Australian cents.

Qantas Airways Ltd. (QAN) : Qantas will resume flights to and from Adelaide today and operate its mainland Australian services as scheduled, Australia’s biggest airline said in a e- mailed statement yesterday. Flights to and from Tasmania and New Zealand will remain suspended for the morning of June 15, it said. Qantas shares lost 0.3 percent to A$1.885.

QBE Insurance Group Ltd. (QBE) : Australia’s largest insurer by market value forecast a first-half profit gain of as much as 60 percent as a surge in investment income helped offset natural disaster claims. The stock rose 0.6 percent to A$17.28.

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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