Australia Stocks: Fortescue Metals, Rio, Wesfarmers, Woodside

By Ian C. Sayson

Oct. 20 (Bloomberg) -- The S&P/ASX 200 Index gained 89.80 points, or 2.3 percent, to 4,060.60 as of 10:20 a.m. in Sydney, after a three-day, 8.4 percent loss. The broader All Ordinaries Index added 74.60, or 1.9 percent, to 4,019.40, while the S&P/ASX 200 Index futures contract due in December rose 0.9 percent to 4,088.

The following is a list of companies whose shares were among the most active Australian trading. Stocks symbols are in parentheses after company names.

Oil companies: Woodside Petroleum Ltd. (WPL AU), operator of Australia's A$25 billion ($20 billion) North West Shelf liquefied natural gas venture, advanced A$1.60, or 4.4 percent, to A$37.60. Santos Ltd. (STO AU), Australia's third-biggest oil and gas producer, climbed 38 cents, or 3.6 percent, to A$10.81.

Crude advanced $2 a barrel in New York on signs that OPEC will announce a production cut at a meeting this week.

Fortescue Metals Group Ltd. (FMG AU), Australia's third- largest iron ore exporter, added 18 cents, or 6.1 percent, to A$3.12. Billionaire Philip Falcone, a New-York based hedge fund manager, has scrapped plans to sell a 15 percent stake in Fortescue Metals, the Australian newspaper said, citing the company's Chief Executive Officer Andrew Forrest.

Rio Tinto Group (RIO AU), the world' third-largest mining company, gained A$4.3, or 6.9 percent, to A$66.92, ending a three-day, 24 percent slump. Rio will get A$400 million ($279 million) in free carbon permits per year under the government's proposed emissions trading system, the Financial Review reported.

Wesfarmers Ltd. (WES AU), Australia's second-largest retailer, added 86 cents, or 4.3 percent, to A$20.80, its first gain in three sessions. The company expects to successfully refinance about A$3 billion ($2 billion) of debt maturing before the end of 2009, Chief Executive Officer Richard Goyder said.

Westpac Banking Corp. (WBC AU), Australia's second-largest lender by market value, gained 80 cents, or 3.7 percent, to A$22.28, its first advance in four days. The bank will take a charge against its full-year profit after firing as many as 450 workers, the Sydney Morning Herald reported Oct. 18.

To contact the reporter on this story: Ian C. Sayson in Manila at isayson@bloomberg.net