Bloomberg News

Aston, Fletcher Building, Sundance: Australian Stocks Preview

October 03, 2011

Oct. 4 (Bloomberg) -- 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 dropped 1 percent to 3,842 as of 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index fell 3.4 percent. The S&P/ASX 200 Index lost 2.8 percent to 3,897.00.

Mining stocks: Copper futures for December delivery dropped as manufacturing contracted in Europe for a second month.

BHP Billiton Ltd. (BHP AU), the world’s No. 1 mining company, fell 2.5 percent to A$34.15. Its American depositary receipts lost 3 percent in New York trading.

Rio Tinto Group (RIO AU), the world’s second-largest mining company by sales, declined 4.1 percent to A$59.30 in Sydney. The group told the Mongolian government they won’t renegotiate the country’s 34 percent stake in the $10 billion Oyu Tolgoi copper mine.

Oil stocks: Crude oil for November delivery fell 2 percent to settle at $77.61 a barrel in New York, the lowest level in more than a year.

Woodside Petroleum Ltd. (WPL AU), Australia’s second- biggest oil and gas producer, slipped 2.7 percent to A$31.62. Santos Ltd. (STO AU), Australia’s third-largest oil and gas producer, erased 2.6 percent to A$11.08.

Gold producers: Gold futures for December delivery gained 2.2 percent to settle at $1,657.70 in New York. Gold futures rose for a second day on concern that Greece will default on its debt, spurring demand for the metal as a haven.

Newcrest Mining Ltd. (NCM AU), Australia’s biggest gold producer, lost 1.5 percent to A$33.56. St. Barbara Ltd. (SBM AU) slid 1 percent to A$2.03.

Aristocrat Leisure Ltd. (ALL AU): The world’s second- largest maker of slot machines settled its patent litigation with International Game Technology (IGT US). The casino game machine-makers entered into a cross-licensing agreement on Aristocrat’s Hyperlink and Ante-Bet patent and IGT’s Alcorn patent. Aristocrat slipped 4.3 percent to A$2.01.

Aston Resources Ltd. (AZT AU): The Australian coking coal developer agreed to sell a 10 percent stake in its Maules Creek coal project for A$370 million ($357 million) to Japan’s Electric Power Development Co. Ltd. Aston fell 1 percent to A$9.96.

Fletcher Building Ltd. (FBU AU): The Auckland-based company plans to expand operations of Formica, the decorative laminates and surfacing division, into India, the New Zealand Herald reported, citing Philip King, investor relations manager. Fletcher lost 0.8 percent to A$5.96.

Sundance Resources Ltd. (SDL AU): China’s Sichuan Hanlong Group has raised its offer by 14 percent in a bid to buy the shares it doesn’t already own in the Australian iron ore developer, according to a person familiar with the deal. Hanlong is now offering 57 Australian cents for every Sundance share, said the person, who declined to be identified ahead of an official announcement.

--Editor: Stephen Kleege

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

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net


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