Australia Stocks Preview: AXA Asia, Boral, Commonwealth Bank

By Shani Raja

Aug. 20 (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 dropped 0.7 percent to 4,826 at 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index gained 0.4 percent in New York.

The S&P/ASX 200 Index fell 118.60 points, or 2.4 percent, to 4,866.40.

Australian companies scheduled to report earnings today include: Coca-Cola Amatil (CCL AU), OZ Minerals Ltd. (OZL AU), Pacific Brands Ltd. (PBG AU), Crown Ltd. (CWN AU), Brambles Ltd. (BXB AU) and Centennial Coal Ltd. (CEY AU).

Mining shares: A measure of six metals traded on the London Metal Exchange rose 3 percent. Zinc advanced 5.1 percent, copper 3 percent and nickel 7.5 percent.

American depositary receipts of BHP Billiton Ltd. (BHP AU), the world's largest mining company, advanced 1.5 percent to the equivalent of A$38.09 a share in New York, A$1.09 higher than the A$37 close in Sydney.

Rio Tinto Group (RIO AU), the world's third-largest mining company, slipped A$4.37, or 3.8 percent, to A$111.33.

Oil companies: Crude oil rose as a weakening dollar prompted investors to purchase commodities as an inflation hedge. Crude oil for September delivery rose $1.66, or 1.5 percent, to settle at $114.53 a barrel at 2:46 p.m. on the New York Mercantile Exchange.

Woodside Petroleum Ltd. (WPL AU), Australia's second-largest oil and gas producer, dropped A$1.28, or 2.3 percent, to A$54.52.

Axa Asia Pacific Holdings Ltd. (AXA AU): Axa plans to list its A$1.07 billion ($933 million) Wholesale Australia Property Fund on the stock exchange later this year, the Australian Financial Review reported, citing Chief Executive Officer Mark Dutton. AXA dropped 20 cents, or 4.2 percent, to A$4.62.

Boral Ltd. (BLD AU): Credit Suisse Group cut the rating of the nation's biggest seller of building materials to ``neutral'' from ``outperform.'' Boral dropped 8 cents, or 1.4 percent, to A$5.72. Boral fell 8 cents, or 1.3 percent, to A$6.03.

Commonwealth Bank of Australia (CBA AU): The lender is negotiating to buy as much as 40 percent of mortgage provider Aussie Home Loans in a deal valuing Aussie at more than A$200 million ($174 million), the Australian Financial Review reported, without saying where the information came from. Commonwealth shares slumped A$1.14, or 2.7 percent, to A$41.

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