Australia Stocks Preview: Commonwealth Bank, Boral, Lend Lease

By Shani Raja

Oct. 2 (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 rose 0.6 percent to 4,875 at 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index dropped 1.4 percent in New York.

The S&P/ASX 200 Index surged 194.10 points, or 4.2 percent, to 4,794.60.

Financial stocks: The U.S. Senate will vote after 7:30 p.m., Washington time, on a $700 billion financial-rescue package aimed at reviving the U.S. economy and unfreezing global credit markets.

National Australia Bank Ltd. (NAB AU), the nation's largest lender, rallied A$1.44, or 5.9 percent, to A$25.70.

Mining shares: Copper declined to the lowest in 18 months on signs that a manufacturing slump is eroding demand for metal used in wires and pipes. Copper futures for December delivery fell 8.95 cents, or 3.1 percent, to $2.7895 a pound on the Comex division of the New York Mercantile Exchange.

American depositary receipts of BHP Billiton Ltd. (BHP AU), the world's largest mining company, slipped 1.2 percent to the equivalent of A$32.49 a share in New York, 26 cents lower than the A$32.75 close in Sydney.

Rio Tinto Group (RIO AU) soared A$10.50, or 12 percent, to A$95.

Oil companies: Crude oil fell 2.1 percent in New York after a U.S. government report showed a bigger-than-forecast increase in supplies as fuel consumption dropped to the lowest since 2001.

Woodside Petroleum Ltd. (WPL AU), operator of Australia's A$25 billion ($20 billion) North West Shelf liquefied natural gas venture, gained A$1.20, or 2.4 percent, to A$52.20.

Boral Ltd. (BLD AU): Cemex SAB, North America's largest cement producer, has selected six possible buyers of its Humes concrete pipe unit in Australia, Reuters said, among them Boral, Reuters reported, citing people familiar with the deal. Boral added 18 cents, or 2.9 percent, to A$6.30.

Commonwealth Bank of Australia (CBA AU): The lender offered A$3 billion ($2.4 billion) to buy HBOS Plc's Australian unit BankWest, the Australian Financial Review reported, without saying where it got the information. Commonwealth Bank rose A$2.24, or 5.3 percent, to A$44.86.

Lend Lease Corp. (LLC AU): The Australian developer building London's Olympic Village agreed to increase its stake in Babcock & Brown Communities Ltd. to 41 percent for A$237 million ($189 million) to add retirement villages. Lend Lease advanced 22 cents, or 2.4 percent, to A$9.40.

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