Australia Stocks: APN, Babcock, Bradken, James Hardie, Santos

By Ian C. Sayson

Nov. 4 (Bloomberg) -- The S&P/ASX 200 Index decreased 74.30 points, or 1.8 percent, to 4,147.20 as of 12:06 p.m. in Sydney, halting a four-day, 11 percent rally. The S&P/ASX 200 Index futures contract expiring in December fell 0.7 percent to 4,146, while the All Ordinaries Index dropped 67.40, or 1.6 percent, to 4,105.60.

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.

Oil companies: BHP Billiton Ltd. (BHP AU), Australia's biggest oil and gas producer, decreased A$.11, or 3.7 percent, to A$28.79 after oil prices slumped on concern that demand for the fuel will decline. Santos Ltd. (STO AU), Australia's third- biggest oil producer, dropped 27 cents, or 1.9 percent, to A$13.71. Oil Search Ltd. (OSH AU), Papua New Guinea's biggest oil producer, sank 10 cents, or 2.2 percent, to A$4.55, ending a five-day rally.

Crude oil fell more than $3 a barrel yesterday after a report showed that manufacturing in the U.S. contracted in October at the fastest pace in 26 years, a signal that fuel consumption will decline.

U.S.-Related Stocks: Westfield Group (WDC AU), the world's biggest shopping mall owner by market value, lost 54 cents, or 3.3 percent, to A$15.63 on speculation that earnings at its U.S. malls will slump after manufacturing contracted. James Hardie Industries NV (JHX AU), the biggest seller of home siding in the U.S., dropped 21 cents, or 4.4 percent, to A$4.61, after surging 13 percent yesterday.

Manufacturing in the U.S. contracted in October at the fastest pace in 26 years, the Institute for Supply Management said. James Hardie separately said that it's suspending production at its South Carolina and California plants because of the housing slump.

APN News & Media Ltd. (APN AU), the publisher of more than 100 newspapers in Australia and New Zealand, added 12 cents, or 4 percent, to A$3.10, after surging 24 percent yesterday. The Seven Network Ltd. (SEV AU) may buy the 39.1 percent stake of Independent News & Media Plc in the company, The Sydney Morning Herald reported, without naming the persons that provided the information. APN News was raised to ``buy'' at Merrill Lynch & Co. and Citigroup Inc. Merrill formerly rated the stock ``underperform'' while Citigroup used to grade it ``hold.''

Seven, which is controlled by Australian billionaire Kerry Stokes, sank 40 cents, or 6.7 percent, to A$5.55, heading for its biggest loss since Oct. 27.

Asciano Ltd. (AIO AU), an Australian port and railroad, fell 9 cents, or 4.1 percent, to A$2.11 after the Australian Financial Review reported the company will likely reject an offer by a group led by TPG Capital to buy a stake in Asciano through the purchase of A$1.25 billion ($850 million) in convertible notes. Asciano lost half of its market value since it rejected a A$2.9 billion buyout three months ago.

Babcock & Brown Infrastructure Group (BBI AU), owner of ports and energy transmission lines in Australia, Europe and the U.S., climbed 4 cents, or 19 percent, to 25.5 Australian cents, heading for its biggest gain since Sept. 19. The company agreed to sell 50 percent of Powerco Ltd.'s New Zealand operations as it seeks to reduce debt.

Bradken Ltd. (BKN AU), a supplier of tools services to mining and retail companies, increased for the fifth day, adding 40 cents, or 7.1 percent, to A$6.02 after the stock was upgraded to ``buy'' from ``neutral'' at UBS AG.

Flight Centre Ltd. (FLT AU), Australia's largest travel agency, sank A$1.03, or 7.9 percent, to A$11.97 after UBS AG downgraded the stock to ``neutral'' from ``buy.''

Sunland Group Ltd. (SDG AU), an Australian property company, added 11.5 cents, or 11 percent, to A$1.15 after announcing a new joint venture partner to help it build its A$2.2 billion Atrium tower development in Dubai. The stock is set for its biggest gain since April 3.

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