Australia Stocks Preview: James Hardie, Newcrest, Woolworths

By Shani Raja

Aug. 11 (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 Friday. Prices are from Friday's close unless otherwise stated.

The S&P/ASX 200 Index futures contract due in September gained 1.5 percent to 5,034 at 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index dropped 0.3 percent in New York.

The S&P/ASX 200 Index rose 2.90, or 0.1 percent, to 4,986.20.

Mining shares: Gold fell for the sixth straight session, the longest slide since June 2006, as the euro slumped against the dollar, eroding the appeal of the precious metal as an alternative investment. Newcrest Mining Ltd. (NCM AU) rose A$1.19, or 4.7 percent, to A$26.40.

A measure of six metals traded on the London Metal Exchange dropped 3.6 percent. Zinc lost 3.4 percent, copper 3.5 percent and nickel 3.7 percent.

American depositary receipts of BHP Billiton Ltd. (BHP AU), the world's largest mining company, declined 1.9 percent to the equivalent of A$37.07 a share in New York, 8 cents lower than the A$37.15 close in Sydney.

Separately, Rio Tinto Group, fending off a $137 billion dollar hostile bid from BHP, said it may spin off its North American coal business into a company called Cloud Peak Energy Inc. Rio (RIO AU), the world's third-largest mining company, advanced A$1, or 0.9 percent, to A$116.

Oil companies: Crude oil fell below $115 a barrel for the first time since May as the dollar gained the most since 2001 against the euro, reducing the appeal of commodities as an inflation hedge. Crude oil for September delivery fell $4.82, or 4 percent, to settle at $115.20 a barrel at 2:56 p.m. on the New York Mercantile Exchange.

Woodside Petroleum Ltd. (WPL AU), Australia's second-largest oil and gas producer, jumped 30 cents, or 0.6 percent, to A$51.50.

James Hardie Industries NV (JHX AU): The company may face a A$240 million ($213 million) tax bill after an Australian court ordered that a collapsed unit of the company be reformed to pay the charge, the Australian newspaper reported, citing Judge Kevin Lindgren. James Hardie gained 3 cents, or 0.6 percent, to A$4.71.

St. George Bank Ltd. (SGB AU): The lender looks set to report record full-year profit in line with a revised target, the Sydney Morning Herald reported, without saying where it got the information. St. George advanced 13 cents, or 0.4 percent, to A$29.42.

Tabcorp Holdings Ltd. (TAH AU) and Tatts Group Ltd. (TTS AU): Tabcorp's Chief Executive Officer Elmer Funke Kupper told the Australian Broadcasting Corp.'s Inside Business program that a merger with smaller rival Tatts would not currently be beneficial for the company. Tabcorp slipped 27 cents, or 2.9 percent, to A$8.90. Tatts climbed 2 cents, or 0.8 percent, to A$2.47.

Ten Network Holdings Ltd. (TEN AU): Australian media billionaire Bruce Gordon increased his stake in Ten to just under 15 percent, the Australian Financial Review reported, citing Gordon. The shares gained half a cent to A$1.62.

Woolworths Ltd. (WOW AU): Australia's biggest retailer is studying the purchase of a U.S. business with sales of about A$1 billion ($887 million), the Australian Financial Review reported, without saying where it got the information. Woolworths declined 40 cents, or 1.5 percent, to A$26.50.

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