BHP, Fairfax, Hastie, Sigma, Tabcorp: 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 June fell 0.4 percent to 4,521 at 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index fell 2 percent. The S&P/ASX 200 Index declined 0.7 percent to 4,536.80.
Mining companies: A measure of primary metals traded in London fell for the first time in four days yesterday, slipping 0.7 percent.
BHP Billiton Ltd. (BHP) , the world’s No. 1 mining company, dropped 0.4 percent to A$42.79. Its American depositary receipts declined 2.2 percent in New York trading.
BHP’s coking coal mine workers in Australia will strike on three days next week, halting production from the world’s largest exporter of the fuel.
Rio Tinto Group (RIO AU), the world’s second-largest mining company by sales, gained 0.4 percent to A$79.60 in Sydney.
Gold producers: Gold futures fell for the second straight day on speculation that the Federal Reserve won’t ease U.S. monetary policy further.
Newcrest Mining Ltd. (NCM) , Australia’s biggest gold producer, fell 1.8 percent to A$37.66.
Oil stocks: Crude oil for July delivery rose 1.7 percent on the New York Mercantile Exchange, the highest settlement since May 31.
Woodside Petroleum Ltd. (WPL) , Australia’s second- biggest oil and gas producer, lost 2.6 percent to A$43.88. Santos Ltd. (STO) , Australia’s third-largest oil and gas producer, sank 2 percent to A$13.76.
Fairfax Media Ltd. (FXJ) : The media company said it is undertaking a strategic review of its portfolio of assets. Its shares climbed 0.5 percent to 99.5 Australian cents.
Hastie Group Ltd. (HST) : The commercial air-conditioning company is considering raising about A$150 million ($160 million) of capital after reaching a reorganization agreement with lenders, the Australian Financial Review reported, without saying where it got the information. Hastie shares slumped 4.9 percent to 19.5 Australian cents.
Sigma Pharmaceuticals Ltd. (SIP) : The drugmaker was raised to “buy” from “hold” at Deutsche Bank AG. The stock rose 3.7 percent to 42 Australian cents.
Tabcorp Holdings Ltd. (TAH) : The gambling company named David Attenborough as managing director and chief executive officer and Paula Dwyer as chairwoman. Former chairman John Story was appointed chairman of the spun-off casino unit Echo Entertainment Group Ltd. Tabcorp shares gained 0.6 percent to A$3.26.
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