Australia Stocks Preview: ANZ, Fortescue Metals, RHG, Woodside

By Shani Raja

July 23 (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. Prices are from yesterday's close unless otherwise stated.

The S&P/ASX 200 Index futures contract due in September rose 0.7 percent to 5,050 at 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index lost 1.6 percent in New York.

The S&P/ASX 200 Index fell 6.20 points, or 0.1 percent, to 5,005.60.

Oil companies: Crude oil fell more than $3 a barrel, dropping to a six-week low, on forecasts a tropical storm in the Gulf of Mexico will miss oil installations and the dollar rebounded against the euro, reducing the appeal of commodities. Crude oil for August delivery fell $3.09, or 2.4 percent, to settle at $127.95 a barrel at 2:58 p.m. on the New York Mercantile Exchange, the lowest settlement price since June 5.

Woodside Petroleum Ltd. (WPL AU), Australia's second-largest oil and gas producer, jumped 70 cents, or 1.2 percent, to A$57.10.

Financial stocks: Wachovia Corp., Bank of America Corp. and SunTrust Banks Inc. helped lenders extend their rebound from last week's nine-year low to 28 percent after Deutsche Bank analyst Mike Mayo said bank losses haven't spread as ``much as feared.'' The S&P 500 gained 17 points, or 1.4 percent, to 1,277 and has climbed 5.1 percent from an almost three-year low on July 15.

Australia & New Zealand Banking Group Ltd. (ANZ AU), the nation's third-biggest lender, dropped 73 cents, or 3.9 percent, to A$18.07.

Fortescue Metals Group Ltd. (FMG AU): Fortescue is considering a funding package from Asian customers, including Baosteel Group Corp Ltd., for a proposed expansion of its mine in Western Australia, the Australian Financial Review reported without citing anyone. Baosteel and South Korea's UI Energy Corp. have expressed an interest in providing funding in exchange for iron ore, the newspaper reported, without saying where it got the information. Fortescue declined 36 cents, or 3.9 percent, to A$8.77.

National Australia Bank Ltd. (NAB AU): The country's biggest bank by assets, said it ended talks with Royal Bank of Scotland Group Plc. about buying ABN Amro Holding NV's investment-banking businesses in Australia and New Zealand. National Australia slipped 67 cents, or 2.4 percent, to A$27.65.

RHG Ltd. (RHG AU): The Australian residential home loans provider said it had a mortgage book of A$11.5 billion and that it's planning an on-market share buyback of up to 10 percent of its issued shares over the next year. RHG lost 0.2 cent, or 2.8 percent, to 7 cents.

To contact the reporter on this story: Shani Raja in Sydney at sraja4@bloomberg.net.