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

To contact the editors responsible for this story: Nick Gentle at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.