Australia Stocks Preview: BHP, James Hardie, Roc Oil, Woodside

By Shani Raja

Oct. 3 (Bloomberg) -- The following is a list of companies whose shares may rise or fall in Australia. This preview includes news announced after markets closed yesterday. Prices are from yesterday's close unless otherwise stated.

The S&P/ASX 200 Index futures contract due in December fell 2 percent to 4,680 at 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index plunged 9.3 percent in New York.

The S&P/ASX 200 Index declined 33.50 points, or 0.7 percent, to 4,761.10.

Mining shares: A measure of six metals traded on the London Metal Exchange fell 1.5 percent. Zinc slumped 5.3 percent, copper 5 percent.

American depositary receipts of BHP Billiton Ltd. (BHP AU), the world's largest mining company, tumbled 11 percent to the equivalent of A$29.62 a share in New York, A$2.05 lower than the A$31.67 close in Sydney.

Rio Tinto Group (RIO AU) fell A$3.75, or 4 percent, to A$91.25.

U.S.-linked stocks: U.S. stocks dropped for a second day as a jump in borrowing costs and reports showing a worsening economy spurred concern that the government's $700 billion bank bailout plan won't be enough to stimulate growth. The Standard & Poor's 500 Index fell 46.78, or 4 percent, to 1,114.28.

James Hardie Industries NV (JHX AU), the biggest seller of home siding in the U.S., dropped 17 cents, or 3.2 percent, to A$5.13. Westfield Group (WDC AU), which owns 59 shopping malls in the U.S., advanced 52 cents, or 3 percent, to A$18.08.

Financial stocks: The spread between the rate on a two-year interest-rate swap and U.S. Treasury yields surged to a record as money-market rates climbed and concern increased about the success of a proposed U.S. financial-rescue package.

National Australia Bank Ltd. (NAB AU), the nation's largest lender, was unchanged at A$25.70.

Oil companies: Crude oil for November delivery fell 4.6 percent to $93.97 a barrel at 2:41 p.m. in New York, the lowest settlement price since Sept. 16, on concern consumption will drop because of slower economic growth.

Woodside Petroleum Ltd. (WPL AU), operator of Australia's A$25 billion ($20 billion) North West Shelf liquefied natural gas venture, lost 72 cents, or 1.4 percent, to A$51.48.

Roc Oil Co. (ROC AU), the Australian explorer active in Mauritania, China and Angola, said it's seeking opportunities to invest in development projects in Asia and Africa to boost production and reduce risk. Roc shares slumped 6 cents, or 6 percent, to 94 cents.

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