Australia Stocks Preview: Centro, Minara, Rio, Telstra, Westpac

By Shani Raja

Aug. 14 (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 dropped 0.8 percent to 4,910 at 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index gained 2.6 percent in New York.

The S&P/ASX 200 Index fell 102 points, or 2 percent, to 4,951.60.

Australian companies scheduled to report earnings today include: Stockland (SGP AU), Leighton Holdings Ltd. (LEI AU), ASX Ltd. (ASX AU) and Futuris Corp (FCL AU).

Mining shares: A measure of six metals traded on the London Metal Exchange rose 3.2 percent. Zinc advanced 2.2 percent, copper 3.9 percent and nickel 7.7 percent. Minara Resources Ltd. (MRE AU), Australia's second-largest nickel producer, rose 1.5 cents, or 1.3 percent, to A$1.20.

American depositary receipts of BHP Billiton Ltd. (BHP AU), the world's largest mining company, advanced 3.4 percent to the equivalent of A$38.04 a share in New York, A$1.28 higher than the A$36.76 close in Sydney.

Separately, Rio Tinto Group (RIO AU), the world's third- largest mining company, and India's NMDC Ltd. plan to jointly explore for iron-ore assets in India and overseas. Rio slipped A$2.40, or 2.1 percent, to A$111.60.

Oil companies: Crude oil futures rose more than $2 a barrel after a U.S. Energy Department report showed a bigger-than forecast decline in inventories of gasoline as refiners shut units and imports fell. Crude oil for September delivery rose $2.99, or 2.6 percent, to settle at $116 a barrel at 2:48 p.m. on the New York Mercantile Exchange, the biggest one-day gain since July 30.

Woodside Petroleum Ltd. (WPL AU), Australia's second-largest oil and gas producer, added 17 cents, or 0.3 percent, to A$52.11.

Centro Properties Group (CNP AU): Centro may be planning to sell its A$420 million ($367 million) stake in three shopping centers in West Australia state to help refinance loans, the Australian Financial Review reported, citing unidentified sources. Centro lost 1.5 cents, or 5.3 percent, to 27 cents.

Macquarie Group Ltd. (MGQ AU): Australia's biggest securities firm hired six people, including JPMorgan Chase & Co. economist Rajeev Malik, to expand product offerings in India, the world's second-fastest growing major economy. Macquarie declined A$1.11, or 2 percent, to A$54.10.

Maryborough Sugar Factory Ltd. (MSF AU): The Australian producer and refiner of raw sugar began merger talks with Tully Sugar Ltd. as it seeks to expand into far north Queensland state. Maryborough dropped 5 cents, or 2.5 percent, to A$1.95.

Telstra Corp. (TLS AU): Telstra is planning to negotiate labor contracts with non-unionized workers to save up to A$50 million ($43.7 million) over the next three years, the Sydney Morning Herald reported. Australia's largest phone company will target workers in business units that have low union participation rates, the newspaper said, citing leaked confidential Telstra documents. Telstra fell 18 cents, or 4 percent, to A$4.32.

Westpac Banking Corp. (WBC AU): Australia's second-largest bank by market value won regulatory approval for its A$17.4 billion ($15 billion) bid to buy St. George Bank Ltd., creating the nation's biggest mortgage lender. Westpac lost 99 cents, or 4 percent, to A$23.51.

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