Australia Stocks: BHP, James Hardie, Felix, Fortescue, Santos

By Shani Raja

Dec. 5 (Bloomberg) -- The S&P/ASX 200 Index slipped 16.60 points, or 0.5 percent, to 3,515.80 at 12:30 p.m. in Sydney, the lowest since Nov. 24. The broader All Ordinaries Index lost 16.60 points, or 0.5 percent, to 3,451.50, while the futures contract expiring in December declined 0.3 percent to 3,529.

Mining shares: BHP Billiton Ltd. (BHP AU), the world’s largest mining company, dropped A$1.37, or 5 percent, to A$26.13, the lowest since Nov. 24. Rio Tinto Group (RIO AU), the third biggest, fell A$1.87, or 5.8 percent, to A$30.63, the lowest since July 22, 2003.

A measure of six metals traded in London fell for a sixth day, dropping 2.8 percent. Copper slumped 5.1 percent.

Coal producers: Felix Resources Ltd. (FLX AU) soared A$2.23, or 41 percent, to A$7.67, the most since 1989, after saying it’s received “ongoing interest” in a takeover, though talks remain incomplete. Centennial Coal Co. (CEY AU), Australia’s fourth- largest producer, rallied 12 cents, or 5.2 percent, to A$2.44.

Oil companies: Woodside Petroleum Ltd. (WPL AU) slipped 59 cents, or 1.9 percent, to A$30.52, the lowest since Nov. 24. Santos Ltd. (STO AU) declined 95 cents, or 7.1 percent, to A$12.40, the most since Nov. 13.

Crude oil fell below $44 a barrel to the lowest since January 2005 and gasoline futures dropped below $1 a gallon as the deepening recession in the U.S., Europe and Japan cuts fuel consumption. Crude for January delivery fell 6.8 percent to $43.59 a barrel at the close of floor trading in New York.

Woodside reduced the size of a proposed liquefied natural gas import project in California, citing community and regulatory concerns, and customer demand.

Fortescue Metals Group Ltd. (FMG AU) plunged 19 cents, or 7.7 percent, to A$2.27, making it the index’s fourth-worst performer. Australia’s third-biggest producer of iron ore changed its shipping contracts to require most customers to arrange their own freight after shipping rates slumped.

James Hardie Industries NV (JHX AU), the biggest seller of home siding in the U.S., rallied 26 cents, or 6.6 percent, to A$4.19, the highest since Nov. 17. U.S. Federal Reserve Chairman Ben S. Bernanke urged using more taxpayer funds for new efforts to prevent home foreclosures, saying the private sector is incapable of coping with the crisis on its own.

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