BHP, CFS, Foster’s, Qantas, Rio, Toll: 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 September gained 0.8 percent to 4,543 as of 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index climbed 1.8 percent. The S&P/ASX 200 Index added 1.3 percent to 4,508.20.

Mining companies: Copper futures for September delivery advanced 0.4 percent to close at $4.107 a pound in New York.

BHP Billiton Ltd. (BHP) , the world’s No. 1 mining company, gained 1.6 percent to A$42. Its American depositary receipts gained 1.8 percent in New York trading.

Rio Tinto Group (RIO AU), the world’s second-largest mining company by sales, rose 1.7 percent to A$78.64 in Sydney. Rio will pay $502 million ($532 million) to increase its holding in Ivanhoe Mines Ltd. (IVA AU), its partner in a Mongolian mine development. Ivanhoe’s shares fell 1.8 percent to A$2.74.

CFS Retail Property Trust (CFX) : CFS Retail may announce a A$300 million ($318 million) convertible bond issue managed by Deutsche Bank AG and JPMorgan Chase & Co, the Australian Financial Review reported in its Street Talk Column, without saying where it got the information. The stock gained 1.1 percent to A$1.88.

Foster’s Group Ltd. (FGL) : SABMiller Plc, a brewer, will pursue Foster’s after its A$9.5 billion cash offer was rejected by Australia’s biggest beer company. Australia’s largest brewer jumped 13 percent to A$5.14.

Qantas Airways Ltd. (QAN) : Australia’s largest carrier canceled New Zealand services today because of a drifting cloud of volcanic ash that stranded at least 40,000 travelers across Australia yesterday. Domestic flights within Australia and other international flights will resume throughout today, Qantas said. Qantas shares advanced 0.3 percent to A$1.825.

Toll Holdings Ltd. (TOL) : Australia’s biggest freight company may appoint Chief Financial Officer Brian Kruger as the company’s next chief executive officer, the Australian Financial Review reported in its Street Talk column, without saying where it got the information. Recruitment firm Egon Zehnder has narrowed the search for a CEO to Kruger and an external candidate, the newspaper said. Toll shares added 0.2 percent to A$4.91.

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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