Australia Stocks: Aquarius, Boart, Incitec, Macquarie, Newcrest

By Shani Raja

Sept. 11 (Bloomberg) -- The S&P/ASX 200 Index fell 22.40 points, or 0.5 percent, to 4,883.10 at 10:30 a.m. in Sydney. The broader All Ordinaries Index lost 23.40 points, or 0.5 percent, to 4,938, while the futures index expiring in September dipped 0.9 percent to 4,868.

Financial stocks: Macquarie Group Ltd. (MQG AU), Australia's biggest securities company, lost 60 cents, or 1.4 percent, to A$42.90. Australia & New Zealand Banking Group Ltd. (ANZ AU) dropped 41 cents, or 2.3 percent, to A$17.20, the most since Sept. 5, eclipsing yesterday's 1.2 percent gain.

Lehman Brothers Holdings Inc. slid 6.9 percent in the U.S., adding to yesterday's record 45 percent tumble and sending financial stocks to a second-straight decline, after the securities firm posted a wider loss than analysts estimated.

Aquarius Platinum Ltd. (AQP AU), the producer of the metal in South Africa and Zimbabwe, fell 18 cents, or 2.2 percent, to A$7.94, the lowest since Oct. 2006. Platinum fell to an 18-month low in London on concern slowing car sales will sap demand for the metal. Separately, workers at the company will strike on Sept. 12 for a day of mourning after a worker died last weekend, a labor union said.

Boart Longyear Ltd. (BLY AU), a provider of drilling services to mining companies including BHP Billiton Ltd., fell to a record low, dropping 11 cents, or 7.1 percent, to A$1.50. ABN Amro Holding NV cut its rating to ``hold'' from ``buy.''

Centennial Coal Co. (CEY AU), Australia's fourth-largest coal producer, climbed 15 cents, or 3 percent, to A$5.20, the 10th-biggest gainer, after its rating was upgraded to ``overweight'' from ``neutral'' at JPMorgan Chase & Co.

Incitec Pivot Ltd. (IPL AU), Australia's largest fertilizer maker, advanced A$4.60, or 3.6 percent, to A$133.60, the index's fourth-biggest gainer. Incitec may be a takeover target for Potash Corp. of Saskatchewan Inc., the Australian Financial Review newspaper reported, citing market speculation.

Newcrest Mining Ltd. (NCM AU), Australia's biggest gold producer, declined 48 cents, or 2.4 percent, to A$19.54, the lowest since March 2007. Gold tumbled 3.7 percent to the lowest price since October on speculation a drop in commodity costs and a stronger dollar will reduce demand for the metal as a hedge against inflation.

Sundance Resources Ltd. (SDL AU) rose 1 cent, or 1.9 percent, to 27 cents, the highest since Sept 2. Sundance announced a ``substantial increase'' in the inferred mineral resource inventory of Itabirite hematite at its Mbalam iron-ore project in Cameroon, West Africa.

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