Flight Centre, Lihir, Macarthur, Rio, Woodside: Australian Equity Preview
The following is a list of companies whose shares may rise or fall in Australia. The preview includes news announced after markets shut yesterday unless otherwise stated.
The S&P/ASX 200 Index futures contract expiring in June rose 0.2 percent to 4,833 as of 6:59 a.m. in Sydney. The S&P/ASX 200 Index fell 1.2 percent to 4,822.80. The Bank of New York Australia ADR Index rose 1.7 percent.
Mining stocks: Copper prices rebounded from the biggest decline in 10 months in New York. A measure of metals traded in London fell 0.7 percent.
BHP Billiton Ltd. (BHP AU), the world’s largest mining company, dropped 2.2 percent to A$41.07. Its American depositary receipts gained 1.1 percent in New York. Rio Tinto Group (RIO AU) fell 2.6 percent to A$74.44 in Sydney.
Gold producers: Gold futures rose to the highest price since December on signs of increased demand for the precious metal as an alternative to holding currencies. Newcrest Mining Ltd. (NCM AU), Australia’s largest gold producer, lost 0.8 percent to A$34.23. Lihir Gold Ltd. (LGL AU) slipped 1.3 percent to A$3.92.
Flight Centre Ltd. (FLT AU): Australia’s largest travel agency was raised to “outperform” from “neutral” at Credit Suisse Group AG. The shares declined 1.4 percent to A$19.59.
Macarthur Coal Ltd. (MCC AU): The Australian coal producer extended the time period for its takeover offer for Gloucester Coal Ltd. (GCL AU) to May 13 from May 6, a stock-exchange filing showed. Macarthur fell 0.9 percent to A$15.90. Gloucester fell 0.6 percent to A$12.10.
Woodside Petroleum Ltd. (WPL AU): The oil and gas producer plans to build a floating platform to produce 4 million tonnes of liquefied natural gas a year from the Greater Sunrise gasfields, the Australian newspaper reported, without saying where it got the information. Woodside shares dropped 1.5 percent to A$45.75.
To contact the reporters for this story: Shani Raja in Sydney at email@example.com.