Australia Stocks: Babcock, Centro, Macquarie, Rio, Woodside

By Shani Raja

Aug. 27 (Bloomberg) -- The S&P/ASX 200 Index rose 4.70, or 0.1 percent, to 5,012.20 at 10:44 a.m. in Sydney. The broader All Ordinaries Index gained 3.40 points, or 0.1 percent, to 5,085.70, while the futures index expiring in September advanced 0.6 percent to 5,017.

Babcock & Brown Infrastructure Group (BBI AU), owner of ports and energy transmission lines in Australia, Europe and the U.S. slumped 4 cents, or 6 percent, to 63 cents, the benchmark's second-worst performer. Babcock Infrastructure slumped to a full- year loss as costs rose, the company said yesterday, as it cut dividends in a bid to strengthen its balance sheet.

Centro Properties Group (CNP AU) dropped 1 cent, or 5.7 percent, to 16.5 cents, a record low. Centro fell for the third day after saying shareholders may be affected if it offers hybrid securities to win an extension on debt.

Macquarie Group Ltd. (MQG AU) fell A$1.65, or 3.6 percent, to A$44.40, the lowest since April 18. Australia's biggest securities firm had its rating cut to ``neutral'' from ``buy'' at UBS AG.

Rio Tinto Group (RIO AU), the world's third-largest mining company, rose 54 cents, or 0.4 percent, to A$124.60, the highest since July 31. Rio yesterday posted first-half profit that beat analyst estimates on increased aluminum sales and record iron ore prices.

Woodside Petroleum Ltd. (WPL AU), Australia's second-largest oil and gas producer, gained 85 cents, or 1.5 percent, to A$57.35, the highest since July 17. Crude oil for October delivery rose $1.16, or 1 percent, to settle at $116.27 a barrel at 2:58 p.m. on the New York Mercantile Exchange.

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