Australia Stocks Preview: GPT, Newcrest, Rio Tinto, Woodside

By Shani Raja

Aug. 12 (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 gained 0.4 percent to 5,040 at 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index dropped 1.8 percent in New York.

The S&P/ASX 200 Index rose 39.90, or 0.8 percent, to 5,026.10.

Mining shares: Gold futures for December delivery dropped $36.50, or 4.2 percent, to $828.30 an ounce on the Comex division of the New York Mercantile Exchange, the lowest closing price for a most-active contract since Dec. 24. A measure of six metals including copper and zinc fell 1 percent in London.

Newcrest Mining Ltd. (NCM AU) slumped A$2.15, or 8.1 percent, to A$24.25. American depositary receipts of BHP Billiton Ltd. (BHP AU), the world's largest mining company, declined 2.8 percent to the equivalent of A$36.28 a share in New York, 19 cents lower than the A$36.47 close in Sydney.

Separately, China may seek to increase its stake in Rio Tinto Group to block BHP's hostile takeover attempt, the Australian Financial Review said, citing Ivanhoe Mines Ltd. founder Robert Friedland. Aluminum Corp. of China, known as Chinalco, may increase its 9 percent stake in Rio to prevent BHP creating an iron ore cartel, Friedland said in an interview with the newspaper.

Rio (RIO AU), the world's third-largest mining company, dropped A$4.34, or 3.7 percent, to A$111.66.

Oil companies: Crude oil fell to a 14-week low on signs that the U.S. economic slump will extend into 2009, crimping fuel demand. Crude for September delivery fell 75 cents, or 0.7 percent, to settle at $114.45 a barrel at 2:50 p.m. on the New York Mercantile Exchange, the lowest close since May 1.

Woodside Petroleum Ltd. (WPL AU), Australia's second-largest oil and gas producer, was unchanged at A$51.50.

GPT Group (GPT AU): The listed property trust is considering selling its A$400 million homemaker center portfolio, less than a month after putting A$900 million worth of tourism and hotel assets up for sale, the Australian newspaper reported, citing Head of Retail Mark Fookes. GPT advanced 3 cents, or 1.8 percent, to A$1.74.

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