Australia Stocks: Brambles, Cabcharge, Perilya, Santos, Tishman

By Shani Raja

Aug. 21 (Bloomberg) -- The S&P/ASX 200 Index declined 15.80 points, or 0.3 percent, to 4,913.70 at 10:30 a.m. in Sydney. The broader All Ordinaries Index lost 12.40 points, or 0.3 percent, to 4,985.10, while the futures index expiring in September dropped 4 points 4,878.

Brambles Ltd. (BXB AU) fell 6 cents, or 0.8 percent, to a record low A$7.35 after Credit Suisse Group cut the company's rating to ``neutral'' from ``outperform.''

Cabcharge Australia Ltd. (CAB AU), a Sydney-based taxi payment system operator, lost 65 cents, or 9.1 percent, to A$6.50, the lowest in more than two years. The company reported net profit of A$59 million in fiscal 2008.

Centennial Coal Co. (CEY AU), Australia's fourth-largest coal producer, rose for a second day, gaining 29 cents, or 5.8 percent, to A$5.31, the fifth-best performer on the benchmark. Centennial yesterday reported an almost threefold gain in second- half profit on surging prices for the fuel.

OZ Minerals Ltd. (OZL AU), the world's second- largest zinc mining company, fell 13 cents, or 6.8 percent, to A$1.71, the most since Aug. 5, after dropping consideration of a share buyback in order to focus on acquisitions and mine development.

Perilya Ltd. (PEM AU) gained 3 cents, or 6.7 percent, to 48 cents, the third-biggest gainer on the index. The Australian zinc and lead producer will reduce output and cut more than half of the staff at its biggest mine because of lower zinc and lead prices.

Santos Ltd. (STO AU), Australia's third-biggest oil and gas producer, leapt A$1.05, or 6.1 percent, to A$18.25, the second biggest gainer on the index. Santos posted a 58 percent gain in first-half profit after prices rose, and said it intends to move into electricity production to speed the development of gas reserves.

Sunshine Gas Ltd. (SHG AU) rose 53 cents, or 24 percent, to A$2.73, the most since January. Sunshine yesterday agreed to a takeover offer from Queensland Gas Co. (QGC AU), which lost 25 cents, or 5.8 percent, to A$4.07.

Tishman Speyer Office Fund (TSO AU), a trust that invests in and manages office properties in the U.S., dropped 13 cents, or 11 percent, to a record low A$1.08, the worst performer on the index. The company reported an after-tax loss of A$112 million for the year ended June 30, compared with A$263.6 million profit the previous year.

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