BHP, Qantas, Seven Group, Woodside: 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 was little changed at 4,488 as of 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index dropped 1.5 percent. The S&P/ASX 200 Index fell 0.7 percent to 4,500.50.

Mining companies: A measure of primary metals traded in London fell 0.7 percent.

BHP Billiton Ltd. (BHP) , the world’s No. 1 mining company, declined 1 percent to A$42.04. Its American depositary receipts sank 1.3 percent in New York trading.

BHP said the cost of expanding its Worsley aluminum project in Western Australia state has increased 58 percent to $3 billion and completion has been delayed at least six months. It also approved $488 million of extra spending on the Jansen potash project in Saskatchewan, Canada.

Rio Tinto Group (RIO AU), the world’s second-largest mining company by sales, rose 0.3 percent to A$80 in Sydney.

Oil stocks: Oil for August delivery dropped 4.6 percent on the New York Mercantile Exchange, erasing its gains for the year after the International Energy Agency said members would release crude from strategic reserves.

Woodside Petroleum Ltd. (WPL) , Australia’s second- biggest oil and gas producer, fell 1.7 percent to A$40.40.

Santos Ltd. (STO) , Australia’s third-largest oil and gas producer, slid 0.8 percent to A$13.37.

Gold producers: Gold futures for August delivery declined 2.1 percent on the Comex in New York.

Newcrest Mining Ltd. (NCM) , Australia’s biggest gold producer, dropped 0.5 percent to A$36.85.

Adelaide Brighton Ltd. (ABC) : The Australian producer of construction materials said it concluded the refinancing of its bank debt facilities with Commonwealth Bank of Australia, National Australia Bank Ltd. and Westpac Banking Corp. The stock was unchanged at A$3.06

Primary Health Care Ltd. (PRY) : The medical-tests provider was raised to “strong buy” from “buy” at BBY Limited. The shares were unchanged at A$3.29.

Qantas Airways Ltd. (QAN) : Australia’s biggest carrier canceled New Zealand flights for a third day because of a cloud of volcanic ash. Qantas shares slipped 1.6 percent to A$1.80.

Seven Group Holdings Ltd. (SVW) : The media investment company was raised to “buy” from “hold” at Deutsche Bank AG. Its shares dropped 0.2 percent to A$8.48.

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.

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.