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Alinta, BHP, Cape Lambert, Telstra: Australian Stock Preview

Sept. 13 (Bloomberg) -- The following is a list of companies whose shares may rise or fall in Australia. This preview includes news announced after markets closed on Sept. 10. All prices are from that day’s close unless otherwise stated.

The S&P/ASX 200 Index futures contract due in September rose 0.3 percent to 4,577 as of 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index advanced 0.2 percent. The S&P/ASX 200 Index dropped 0.5 percent to 4,560.30.

Mining shares: Copper futures for delivery in December declined 1.1 percent to close at $3.4065 a pound in New York On Sept. 10, capping its first weekly drop in a month.

BHP Billiton Ltd. (BHP AU), the world’s largest mining company, fell 0.6 percent to A$37.96 in Sydney. Its American depositary receipts climbed 0.1 percent in New York trading.

Rio Tinto Group (RIO AU), the world’s third-biggest miner, gained 0.5 percent to A$74.25 in Sydney.

Oil companies: Crude oil for October delivery climbed 3 percent to $76.45 a barrel on the New York Mercantile Exchange, the highest settlement since Aug. 11.

Woodside Petroleum Ltd. (WPL AU), Australia’s second-largest oil and gas producer, dropped 0.9 percent to A$42.53. Rival Santos Ltd. (STO AU) plunged 4.7 percent to A$12.19.

Alinta Energy Ltd. (AEJ AU) and APA Group (APA AU): Bahrain’s Arcapita and Denham Capital may make rival bids for Alinta, which is undergoing a sale process, the Australian Financial Review reported in its Street Talk Column, without saying where it got the information. BHP Billiton Ltd. and APA Group have made offers for individual assets, the Review said. Alinta shares surged 8.2 percent to 5.3 Australian cents. APA dropped 1 percent to A$3.86.

Cape Lambert Resources Ltd. (CFE AU): Metallurgical Corp. of China, a steel-mill builder, said it hadn’t paid A$80 million ($74 million) to Cape Lambert Resources Ltd. for mining assets in Australia because in its view the vendor hadn’t fulfilled its obligations. Cape Lambert said earlier that it had commenced legal action to recover the money. The stock dropped 1.3 percent to 37 Australian cents.

National Australia Bank Ltd. (NAB AU): The Australian business lender plans to respond within days to a decision by the country’s regulator to block the bank’s planned takeover of Axa Asia Pacific Holdings Ltd., Steve Tucker, group executive of NAB Wealth, told the Australian Broadcasting Corporation’s Inside Business program. NAB dropped 0.7 percent to A$24.67.

Telstra Corp. (TLS AU): Telstra’s largest shareholder, the Australian government’s Future Fund, has expressed concern about the lack of transparency surrounding an A$11 billion deal with the National Broadband Network Co. in June, the Australian Financial Review reported, citing an interview with Future Fund Chairman David Murray. The shares fell 1.1 percent to A$2.81.

To contact the reporter for this story: Lisa Pham in Sydney at

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

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