BHP, Grange, Navitas, Legacy, Santos: 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 1.7 percent to 4,319 as of 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index dropped 3.7 percent. The S&P/ASX 200 Index declined 1.4 percent to 4,433.60.

Mining companies: Copper futures for September delivery declined 0.7 percent on the Comex in New York yesterday.

BHP Billiton Ltd. (BHP) , the world’s No. 1 mining company, fell 1.7 percent to A$41.57. Its American depositary receipts lost 3.5 percent in New York trading.

Rio Tinto Group (RIO AU), the world’s second-largest mining company by sales, slid 1.8 percent to A$80.05 in Sydney.

Oil stocks: Crude for September delivery fell 1.2 percent on the New York Mercantile Exchange yesterday.

Woodside Petroleum Ltd. (WPL) , Australia’s second- biggest oil and gas producer, dropped 1.7 percent to A$38.24. Santos Ltd. (STO) , Australia’s third-largest oil and gas producer, declined 1.8 percent to A$12.90.

Gold producers: Gold futures for December delivery climbed 1.4 percent on the Comex in New York yesterday.

Newcrest Mining Ltd. (NCM) , Australia’s biggest gold producer, added 1.1 percent to A$40.03.

Grange Resources Ltd. (GRR) : The gold and iron-ore explorer may take on another joint venture partner to help fund its Southdown magnetite project, Chief Executive Officer Russell Clark said at a conference in Kalgoorlie, Western Australia. Grange’s shares were unchanged at 53.5 Australian cents.

Legacy Iron Ore Ltd. (LCY) : NMDC Ltd., an Indian iron- ore producer, expects to acquire a 50 percent stake in Australia’s Legacy Iron Ore, the chairman of the Indian state- run company said in New Delhi. Legacy Iron’s shares sank 3.5 percent to 14 Australian cents.

Navitas Ltd. (NVT) : The educational services provider was cut to “hold” from “buy” by analysts at Citigroup Inc., which said the company faces “too many headwinds” to be able to outperform in the “near term.” Navitas shares fell 2.6 percent to A$3.75.

News Corp. (NWSA) : London police arrested former News of the World managing editor Stuart Kuttner as part of the probe into phone hacking and bribery at News Corp. (NWS)’s now-defunct Sunday tabloid, two people familiar with the case said. News Corp.’s shares slipped 0.2 percent to A$15.04.

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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