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BHP, Foster’s, Gindalbie, OZ, 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 0.3 percent to 4,260 as of 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index gained 1.8 percent. The S&P/ASX 200 Index rose 1.3 percent to 4,303.90.

Mining companies: A measure of primary metals traded in London gained 1.2 percent yesterday.

BHP Billiton Ltd. (BHP) , the world’s No. 1 mining company, advanced 1 percent to A$39.82. Its American depositary receipts climbed 1.7 percent in New York trading. Rio Tinto Group (RIO AU), the world’s second-largest mining company by sales, added 1.4 percent to A$74.42 in Sydney.

Oil stocks: Crude oil for September delivery rose 1.1 percent yesterday on the New York Mercantile Exchange.

Woodside Petroleum Ltd. (WPL) , Australia’s second- biggest oil and gas producer, gained 1.2 percent to A$37.76. Santos Ltd. (STO) , Australia’s third-largest oil and gas producer, rose 1.8 percent to A$12.14.

Gold producers: Gold futures rose 0.5 percent in New York after U.S. wholesale costs rose more than forecast in July, spurring demand for the precious metal as a hedge against inflation.

Newcrest Mining Ltd. (NCM) , Australia’s biggest gold producer, climbed 1 percent to A$39.09.

Aquila Resources Ltd. (AQA) : The Australian minerals explorer said Red Hill Iron Ltd.’s (RHI AU) “substantive claims” against API Management Ltd., a venture of AMCI Ltd. and Aquila Steel Ltd., are without foundation and will be contested, a stock-exchange filing showed. Aquila gained 2.2 percent to A$6.14. Red Hill increased 4.7 percent to A$2.25 when it last traded on Aug. 16.

Bandanna Energy Ltd. (BND) : The Australian coal explorer said it will sell shares to raise as much as A$133 million ($139 million) to help develop projects including a port and rail construction. The stock slumped 5.6 percent to A$1.1448.

Foster’s Group Ltd. (FGL) : SABMiller Plc, which yesterday took its A$9.5 billion ($10.1 billion) bid directly to Foster’s investors, may have to raise the offer to A$5.20 a share, according to the median estimate of 13 analysts surveyed by Bloomberg News. Foster’s shares gained 0.6 percent to A$4.96.

Gindalbie Metals Ltd. (GBG) : The Australian iron-ore exploration and mining company said it raised A$28.7 million from the sale of shares in a so called “retail entitlement offer.” The amount is equivalent to about 30 percent of the offer, a stock-exchange filing showed. The stock fell 1.5 percent to 68 Australian cents.

OZ Minerals Ltd. (OZL) : Australia’s third-biggest copper producer by market value may be considering an offer for Discovery Metals Ltd. (DML) , the Australian Financial Review reported in its Street Talk column, without saying where it got the information. OZ Minerals rose 2.4 percent to A$12.18. Discovery Metals surged 4.9 percent to A$1.29.

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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