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Aevum, BHP, PanAust, Linc, Woodside: Australian Stock Preview

Aug. 4 (Bloomberg) -- The following is a list of companies whose shares may rise or fall in Australia. This preview includes news announced after markets closed yesterday. All prices are from yesterday’s close unless otherwise stated.

The S&P/ASX 200 Index futures contract due in September slipped 0.1 percent to 4,533 as of 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index declined 0.8 percent. The S&P/ASX 200 Index gained 0.7 percent to 4,571.60.

Mining shares: Copper futures for September delivery dropped 0.9 percent to close at $3.3585 a pound at 1 p.m. on the Comex in New York.

BHP Billiton (BHP AU), the world’s largest mining company, advanced 1.7 percent to A$40.98 in Sydney. Its American depositary receipts lost 0.6 percent in New York trading. Rio Tinto Group (RIO AU), the world’s third-largest mining company, rose 2.6 percent to A$73 in Sydney.

Oil companies: Crude oil for September delivery climbed 1.5 percent to $82.54 a barrel at the 2:30 p.m. close of floor trading in New York.

Woodside Petroleum Ltd. (WPL AU), Australia’s second-largest oil and gas producer, gained 0.4 percent to A$41.90. Rival Santos Ltd. (STO AU) rose 0.5 percent to A$13.49.

Financial shares: Australian banks are being asked to raise almost A$12 billion ($11 billion) to fund groups bidding for five so-called public private infrastructure projects, the Australian Financial Review said in the Dealbook section of its website.

National Australia Bank Ltd. (NAB AU), the nation’s biggest business lender, dropped 0.6 percent to A$25.16.

Aevum Ltd. (AVE AU): The operator of Australian retirement communities said it is open to talks with Stockland after rejecting a takeover bid from its biggest shareholder. The shares gained 2.3 percent to A$1.58.

Ausenco Ltd. (AAX AU): The Australian engineering company was downgraded to “neutral” from “buy” at UBS AG. The shares surged 4 percent to A$2.60.

Gloucester Coal Ltd. (GCL AU): Noble Group Ltd. will sell its stake in Queensland’s Middlemount coal mine to its Australian subsidiary Gloucester Coal for as much as A$300 million, with an announcement expected as early as today, the Australian newspaper reported. Gloucester shares slipped 0.2 percent to A$12.47.

Linc Energy Ltd. (LNC AU): Linc Energy, which sold an Australian coal asset for A$3 billion in cash and royalties to Adani Enterprises Ltd., will use the proceeds to fund expansions and may sell the royalty stream, Chief Executive Officer Peter Bond said in a phone interview. The Brisbane-based company last traded at A$1.86.

PanAust Ltd. (PNA AU): The owner of the second-largest copper mine in Laos agreed to $102 million of three-year term loans from four banks, according to data compiled by Bloomberg.

Australia & New Zealand Banking Group Ltd., Commonwealth Bank of Australia, Investec Plc’s Australian unit and Sumitomo Mitsui Banking Corp. provided the funding, which is secured by the company’s operations in Laos, the data show. PanAust gained 3.5 percent to 60 Australian cents.

Tap Oil Ltd. (TAP AU): The company which produces oil and gas in Western Australia was raised to “buy” from “neutral” at UBS. Its shares jumped 5.1 percent to 93 Australian cents.

To contact the reporters for this story: Shani Raja in Sydney at

To contact the editor responsible for this story: Darren Boey at

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