New Hope, Tower, Mirvac: Australia, New Zealand 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 December fell 2 percent to 3,919 as of 6:58 a.m. in Sydney. The Bank of New York Australia ADR Index lost 3.2 percent. The S&P/ASX 200 Index was little changed at 4,008.60.

Mining stocks: A measure of primary metals traded in London fell 3.4 percent. Copper futures for December delivery dropped for a third day in New York.

BHP Billiton Ltd. (BHP) , the world’s No. 1 mining company, fell 0.1 percent to A$35.02. Its American depositary receipts fell 2.8 percent in New York trading.

Rio Tinto Group (RIO AU), the world’s second-largest mining company by sales, declined 1 percent to A$61.80 in Sydney.

Oil stocks: Crude oil for November delivery fell $2.94 to $79.20 a barrel in New York.

Woodside Petroleum Ltd. (WPL) , Australia’s second- biggest oil and gas producer, climbed 1.1 percent to A$32.48. Santos Ltd. (STO) , Australia’s third-largest oil and gas producer, added 0.9 percent to A$11.37.

Gold producers: Gold futures for December delivery gained $5 to settle at $1,622.30 in New York.

Newcrest Mining Ltd. (NCM) , Australia’s biggest gold producer, lost 0.2 percent to A$34.08. St. Barbara Ltd. (SBM AU) gained 2 percent to A$2.05.

New Hope Corp. (NHC AU) and Wesfarmers Ltd. (WES AU) were named as potential targets of a “major acquisition” planned by Xstrata Plc in Australia, in the Australian Financial Review’s Street Talk column on Sept. 30.

Tower Ltd. (TWR) , a New Zealand insurer, said it put in place reinsurance for the year ending Sept. 30, 2012, and will raise premiums on home, contents and motor vehicle policies as a result of rates charged by its reinsurers.

Mirvac Group (MGR) , an Australian property and development group, said it entered into a binding agreement to sell a 50 percent stake in the Hoxton Distribution Park for A$97.4 million.

To contact the reporter on this story: Chris Bourke in Wellington at cbourke4@bloomberg.net

To contact the editor 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.