Australia Stocks: Aquarius, Asciano, Computershare, Woodside

By Shani Raja

Nov. 12 (Bloomberg) -- The S&P/ASX 200 Index fell 58.80 points, or 1.5 percent, to 3,902.10 at 10:20 a.m. in Sydney. The broader All Ordinaries Index lost 54.10 points, or 1.4 percent, to 3,867.70, while the futures index expiring in December slipped 1.6 percent to 3,929.

Mining stocks: BHP Billiton Ltd. (BHP AU), the world's largest mining company, fell for the second day, dropping 62 cents, or 2.2 percent, to A$28.18. Rio Tinto Group (RIO AU), the world's third biggest mining company, declined A$2.49, or 3.3 percent, to A$74. Minara Resources Ltd. (MRE AU), an Australian nickel producer controlled by Glencore International AG, tumbled 5 cents, or 12 percent, to 41 cents, the lowest since Oct. 30 and the index's third-worst performer.

A measure of six metals traded on the London Metal Exchange slumped 4.2 percent. Copper dived 6.1 percent and nickel 5.3 percent. China, the world's largest-iron ore consumer, probably won't increase imports next year, the first time they haven't risen in at least eleven years because of slowing demand from steel mills, an industry group said.

Aquarius Platinum Ltd. (AQP AU), a producer of the metal in South Africa and Zimbabwe, tumbled 41 cents, or 12 percent, to A$3.11, the lowest since the end of Oct. Platinum futures for January delivery fell 4.1 percent to $824.80 an ounce on the Nymex.

Asciano Group (AIO AU), the Australian coal transporter that rejected a buyout offer from David Bonderman's TPG Capital, plunged for a fifth day, diving 11 cents, or 17 percent, to 57 cents, a record low. Citigroup Inc. yesterday advised investors to sell the stock.

Computershare Ltd. (CPU AU) slipped 31 cents, or 4.3 percent, to A$6.87, the lowest since March 2006. The world's biggest share registrar cut its earnings guidance citing gains in the U.S. dollar, the Sydney Morning Herald reported, citing Chief Executive Stuart Crosby.

Fortescue Metals Group Ltd. (FMG AU) slumped 19 cents, or 8.3 percent, to A$2.09, the lowest since March 2007. The third- largest iron-ore exporter in Australia said shipments may drop to as low as 16 million metric tons this year because of weak demand and a temporary shutdown of its port and mine processing plant.

Woodside Petroleum Ltd. (WPL AU), the nation's No. 2 oil producer, dropped 80 cents, or 2 percent, to A$39.20, its second decline in three days.

Crude oil fell below $59 a barrel in New York for the first time since March 2007 on speculation the International Energy Agency will cut its 2009 oil-demand forecast because of slowing economic growth.

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