BHP, Fairfax Media, Molopo, Woodside: 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 September slipped 1.6 percent to 4,397 as of 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index dropped 0.4 percent. The S&P/ASX 200 Index gained 1.7 percent to 4,497.80.
Mining companies: Copper futures for September delivery declined 1.6 percent on the Comex in New York.
BHP Billiton Ltd. (BHP) , the world’s No. 1 mining company, rose 2.1 percent to A$42.30. Its American depositary receipts lost 0.9 percent in New York trading.
Rio Tinto Group (RIO AU), the world’s second-largest mining company by sales, climbed 1.9 percent to A$81.52 in Sydney.
Oil stocks: Crude for September delivery fell 0.9 percent on the New York Mercantile Exchange.
Woodside Petroleum Ltd. (WPL) , Australia’s second- biggest oil and gas producer, gained 1.4 percent to A$38.90. Santos Ltd. (STO) , Australia’s third-largest oil and gas producer, advanced 1.9 percent to A$13.13.
Gold producers: Gold futures for December delivery dropped 0.6 percent on the Comex in New York. Newcrest Mining Ltd. (NCM) , Australia’s biggest gold producer, added 0.1 percent to A$39.60.
Fairfax Media Ltd. (FXJ) : The media company was unable to print many of its morning newspapers in New Zealand today after a computer failure in its main production system. Production of the Press in Christchurch, the Dominion Post in Wellington, the Southland Times and the Timaru Herald were affected, the company said in a statement on the stuff.co.nz website, which it also produces. Fairfax shares rose 2.8 percent to 90.5 Australian cents.
Molopo Energy Ltd. (MPO) : The coal-seam gas producer in Queensland state was downgraded to “neutral” from “outperform” at Credit Suisse Group AG based on the company’s latest unaudited profit guidance. The stock gained 1.3 percent to 79.5 Australian cents.
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