APA, PanAust, Peel Mining, Qantas: 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 December gained 1.7 percent to 4,133 as of 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index jumped 4 percent. The S&P/ASX 200 Index rose 3.7 percent to 4,069.90.

Mining stocks: Copper futures jumped 4.5 percent in New York on speculation that European officials will contain the region’s fiscal woes.

BHP Billiton Ltd. (BHP) , the world’s No. 1 mining company, jumped 3.3 percent to A$36.30. Its American depositary receipts gained 3.5 percent in New York trading.

Rio Tinto Group (RIO AU), the world’s second-largest mining company by sales, climbed 4.9 percent to A$63.28 in Sydney. The company and its partner Ivanhoe Mines Ltd. announced that the Mongolian government will stick with their agreement on the $10 billion Oyu Tolgoi copper project, halting a proposal by the Asian nation to increase its holding to 50 percent from 34 percent.

Oil stocks: Crude oil rose, capping the biggest two-day rally since February, after European Central Bank President Jean-Claude Trichet announced a bond-purchase program to stimulate economic growth. Crude oil for November delivery rose 3.7 percent to settle at $82.59 a barrel in New York.

Woodside Petroleum Ltd. (WPL) , Australia’s second- biggest oil and gas producer, rose 4.7 percent to A$34.34. Santos Ltd. (STO) , Australia’s third-largest oil and gas producer, gained 2.1 percent to A$11.60.

Gold producers: Gold futures for December delivery advanced $11.60 to settle at $1,653.20 in New York on its way to its first weekly gain in five weeks.

Newcrest Mining Ltd. (NCM) , Australia’s biggest gold producer, rose 3.5 percent to A$35.06. St. Barbara Ltd. (SBM AU) climbed 2.4 percent to A$2.15.

APA Group (APA) : The company whose pipelines carry more than half of Australia’s natural gas will jointly develop a gas- fired power station at Mount Isa, Queensland, with AGL Energy Ltd. (AGK) following an agreement to supply electricity to Xstrata’s Mount Isa mines. APA’s shares gained 0.9 percent to A$4.085. AGL advanced 0.8 percent to A$14.43.

PanAust Ltd. (PNA) : The copper-mining company was raised to “outperform” from “neutral” at Credit Suisse. The target price is A$4 per share. The company surged 7.2 percent to A$2.69.

Peel Mining Ltd. (PEX AU): The western Australia precious and base metal producer will offer more than A$2.6 million ($2.5 million) of new shares to existing share holders at an issue price of 12 Australian cents per share. Share holders are eligible to acquire one new share at the issue price for every four shares owned at the close of the business day on Oct. 17. The company climbed 4.4 percent to 12 Australian cents.

Qantas Airways Ltd. (QAN) : Australia’s biggest airline confirmed an order for 110 Airbus A320-series planes as it renews its fleet and adds overseas ventures because of Asian travel growth. The airline also reached an agreement with short- haul cabin-crew union leaders on a three-year pay deal. The airline was forced to cancel 17 flights today because of disputes with engineers, baggage handlers and other workers seeking job guarantees. Qantas’s shares gained 5.1 percent to A$1.445.

To contact the reporter on this story: Kaitlyn Kiernan in New York at kkiernan2@bloomberg.net.

To contact the editor responsible for this story: John McCluskey at j.mccluskey@bloomberg.net

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