By Ian Sayson
Oct. 28 (Bloomberg) -- The S&P/ASX 200 Index fell 42.90 points, or 1.1 percent, to 3,766.30 as of 11:47 a.m. local time, heading for its lowest close since Oct. 27, 2004. The S&P/ASX 200 Index futures contract due in December slipped 0.7 percent to 3,765. The All Ordinaries Index declined 42.10, or 1.1 percent, to 3,726.20.
The following is a list of companies whose shares are among the most active in Australian trading. Stocks symbols are in parentheses after company names.
Mining stocks: BHP Billiton Ltd. (BHP AU), the world's largest mining company, climbed for the second day, adding 46 cents, or 1.9 percent, to A$25.06 after a measure of metal prices advanced the most in more than two years. Rio Tinto Group (RIO AU), the world's third biggest, climbed A$1.78, or 2.8 percent, to A$66.43.
A measure of six metals traded on the London Metal Exchange gained 5.8 percent, with nickel surging 11 percent and copper advancing 6.6 percent. It's the measure's biggest advance since May 23, 2006.
Oil companies: Woodside Petroleum Ltd. (WPL AU),Australia's second-biggest oil producer, lost 82 cents, or 2.2 percent, to A$36.08, heading for a five-day, 15 percent slump after the price of crude oil extended its decline to the lowest since May 2007. Santos Ltd. (STO AU), the third-biggest oil producer, sank 59 cents, or 5 percent, to A$11.16.
Crude oil for December delivery fell 1.5 percent to $63.22 a barrel on the New York Mercantile Exchange yesterday as plunging global stock markets heightened concern that a recession will slash fuel consumption. The contract was 1.7 percent lower at $62.15 a barrel in after-hour trading as of 10:11 a.m. in Sydney, heading for its lowest close since May 10.
Austar United Communications Network Ltd. (AUN AU), the Australian pay-television company controlled by U.S. billionaire John Malone, rose 5 cents, or 5.6 percent, to 95 Australian cents, its first gain in five days. Austar said third-quarter sales grew 11 percent to A$160 million and that it's tracking a 20 percent expansion in its 2008 earnings before interest, taxes, depreciation and amortization.
Billabong International Ltd. (BBG AU), the world's largest surfwear maker by market value, increased for the first time in five sessions, adding 6 cents, or 0.6 percent, to A$11.01. The company raised it annual earnings-per-share forecast to 12 percent and 16 percent, compared with the previous range of 4 percent and 8 percent, on expectation the slumping Australian dollar will increase the value of overseas sales.
Challenger Infrastructure Fund (CIF AU), which invests in a portfolio of global infrastructure and utility assets, fell 13 cents, or 5.7 percent, to $2.17. The fund was cut to ``underweight'' at JPMorgan Chase & Co.
Fortescue Metals Group Ltd. (FMG AU), Australia's third- largest iron ore exporter, jumped 7 cents, or 2.5 percent, to A$2.87, its first gain in five sessions. The government told BHP and Rio that they must share their iron ore railroads in Australia with Fortescue.
Futuris Corp. (FCL AU), whose businesses range from forestry to rural and automotive services, decreased 8 cents, or 7.1 percent, to A$1.05, its most since Oct. 3, 2008. The company said it expects underlying full-year net profit to be at the lower end of the current range of market expectations because of costs for restructuring its Elders rural unit.
Lihir Gold Ltd. (LGL AU), the second-largest gold mining company on the Australian stock exchange, increased 7.5 cents, or 4.8 percent, to A$1.645. The company said third-quarter production grew 59 percent to a record after acquiring new mines.
Mirvac Group (MGR AU), an Australian real estate investment trust, tumbled 12 cents, or 7.9 percent, to A$1.34, heading for its lowest close since the stock began trading June 1999. The stock to ``underperform'' from ``neutral,'' by Merrill Lynch & Co., citing ``material refinancing risk.''
Queensland Gas Co. (QGC AU), which owns coal-seam gas fields in northeastern Australia, surged A$2.55, or 80 percent, to A$5.75 after BG Group Plc agreed to buy the rest of the company for A$5.75 a share in cash. AGL Energy Ltd. (AGK AU), Queensland's biggest shareholder and which agreed to sell its 22 percent stake, jumped 61 cents, or 4.6 percent, to A$14.01. Queensland climbed the most since it started trading August 2000 while AGL is on course for its biggest gain since Sept. 12.
To contact the reporter on this story: Ian C. Sayson in Manila at isayson@bloomberg.net.
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