Australia Stocks Preview: BHP, Centro, IAG, Murchison, OneSteel

By Shani Raja

Sept. 29 (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 December rose 1 percent to 5,004 at 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index fell 4.5 percent in New York.

The S&P/ASX 200 Index declined 22.60 points, or 0.5 percent, to 4,904.80.

Mining shares: Platinum futures for January delivery fell $68.10, or 5.7 percent, to $1,123.10 an ounce on the New York Mercantile Exchange. Aquarius Platinum Ltd. (AQP AU), a producer of the metal in South Africa and Zimbabwe, slumped 65 cents, or 8.3 percent, to A$7.20.

A measure of six metals traded on the London Metal Exchange fell 1.5 percent. Zinc dropped 1.7 percent and copper 2.2 percent.

American depositary receipts of BHP Billiton Ltd. (BHP AU), the world's largest mining company, plunged 5.5 percent to the equivalent of A$35.50 a share in New York, 34 cents lower than the A$35.84 close in Sydney.

Rio Tinto Group (RIO AU) declined 86 cents, or 0.8 percent, to A$101.

Centro Properties Group (CNP AU): Centro is set to win another extension on A$1.2 billion ($993 million) of overdue borrowings, the Australian Financial Review reported. Chief Executive Officer Glenn Rufrano has said he sees ``no reason to believe the extension will not be made,'' according to the newspaper. Centro rose 0.2 cents, 2.4 percent, to 8.5 cents.

Insurance Australia Group Ltd. (IAG AU): The company's rating was downgraded to ``underperform'' from ``hold'' by analyst Johan Vanderlugt at Daiwa Institute. IAG added 4 cents, or 1 percent, to A$4.10.

Murchison Metals Ltd. (MMX AU): Sinosteel Corp., China's second-biggest iron-ore trading company, said its decision to buy a stake in Murchison depends on ``market conditions,'' according to President Huang Tianwen. Murchison advanced 5 cents, or 3.3 percent, to A$1.57.

OneSteel Ltd. (OST AU): Australia's second-largest steelmaker said it will bid for the 49 percent of New Zealand's Steel & Tube Holdings Ltd. it doesn't already own, offering 33 percent more than the market price. OneSteel fell 23 cents, or 4.1 percent, to A$5.32.

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