Australia Stocks: Allco, Newcrest, QBE Insurance, Woolworths

By Shani Raja

Aug. 15 (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 yesterday. Prices are from yesterday's close unless otherwise stated.

The S&P/ASX 200 Index futures contract due in September gained 0.4 percent to 4,949 at 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index lost 1.7 percent in New York.

The S&P/ASX 200 Index rose 29.50 points, or 0.6 percent, to 4,981.10.

Mining shares: Gold fell on speculation surging U.S. consumer costs may spur the Federal Reserve to raise interest rates, boosting the dollar and eroding the metal's appeal as an alternative investment. Gold futures for December delivery fell 2 percent to $814.50 an ounce on the Comex division of the New York Mercantile Exchange.

Newcrest Mining Ltd. (NCM AU), Australia's largest gold mining company, advanced 15 cents, or 0.6 percent, to A$25.05.

Nickel fell 2.1 percent on the London Metal Exchange. Minara Resources Ltd. (MRE AU), Australia's second-largest nickel producer, rose 1.5 cents, or 1.3 percent, to A$1.20.

Oil companies: Crude oil fell on speculation that fuel- consumption declines in the U.S. will spread to other countries as their economies slow. Crude oil for September delivery fell 99 cents, or 0.9 percent, to settle at $115.01 a barrel at 2:52 p.m. on the New York Mercantile Exchange.

Woodside Petroleum Ltd. (WPL AU), Australia's second-largest oil and gas producer, added A$3.46, or 6.6 percent, to A$55.57.

Financial stocks: Fannie Mae and Freddie Mac, the largest sources of financing for U.S. home loans, led a rally in U.S. banking shares. Each jumped more than 7 percent after the Securities Industry and Financial Markets Association said larger loans financed by the two companies will be allowed in the main market for mortgage bonds. The Standard & Poor's 500 Index added 7.1 points, or 0.6 percent, to 1,292.93.

Commonwealth Bank of Australia (CBA AU), the nation's biggest mortgage lender, dropped 55 cents, or 1.3 percent, to A$43.50.

Allco Finance Group Ltd. (AFG AU): The Sydney-based manager of ships, aircraft and wind farms said it expects at least a A$90 million ($79 million) profit on the sale of part of its Singapore real estate unit. Allco lost 0.5 cent, or 1.1 percent, to 46 cents.

QBE Insurance Group Ltd. (QBE AU): QBE agreed to buy PMI Group Inc.'s Asian and Australian businesses for A$1.03 billion ($896 million), a week after the U.S. mortgage insurer posted a fourth consecutive quarterly loss. QBE declined 40 cents, or 1.7 percent, to A$23.50.

Woolworths Ltd. (WOW AU): Australia's biggest retailer will appeal a court decision blocking it from buying New Zealand's Warehouse Group Ltd., the Australian Financial Review reported, without saying where it got the information. Woolworth fell 52 cents, or 1.9 percent, to A$26.70.

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