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

By Shani Raja

Dec. 5 (Bloomberg) -- The S&P/ASX 200 Index slipped 42.50 points, or 1.2 percent, to 3,489.90 at the close of trading in Sydney, taking its weekly loss to 6.8 percent. The broader All Ordinaries Index lost 40.90 points, or 1.2 percent, to 3,427.20, while the futures contract expiring in December declined 0.5 percent to 3,522.

Mining shares: BHP Billiton Ltd. (BHP AU), the world’s largest mining company, dropped A$1.35, or 4.9 percent, to A$26.15, the lowest since Nov. 24. Rio Tinto Group (RIO AU), the third biggest, fell 50 cents, or 1.5 percent, to A$32, the lowest since Aug. 15, 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$1.99, or 37 percent, to A$7.43, the most since 1989 and the benchmark’s best performer. The Australian Financial Review reported Yanzhou Coal Mining Co. was in talks to acquire Felix for more than A$3 billion ($1.9 billion).

Centennial Coal Co. (CEY AU), Australia’s fourth-largest producer, rallied 22 cents, or 9.5 percent, to A$2.54.

Oil companies: Woodside Petroleum Ltd. (WPL AU) slipped 65 cents, or 2.1 percent, to A$30.46, the lowest since Nov. 24. Santos Ltd. (STO AU) declined A$1.20, or 9 percent, to A$12.15, the most since Oct. 16. Australian Worldwide Exploration Ltd. (AWE AU), operator of the $269 million Tui oil project in New Zealand, plunged 27 cents, or 11 percent, to A$2.18, the index’s fifth-biggest loser.

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

Bradken Ltd. (BKN AU), a supplier of tools and services to mining and retail companies, tumbled 35 cents, or 10 percent, to A$3.04, the most since Nov. 18. The company fell 4.2 percent yesterday after saying it’s issuing 50,000 ordinary shares at A$8.05 apiece to help fund the acquisition of Americast Technologies Inc.

Fortescue Metals Group Ltd. (FMG AU) plunged 23 cents, or 9.4 percent, to A$2.23, the most since Nov. 26. 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 20 cents, or 5.1 percent, to A$4.13, 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.

Macquarie CountryWide Trust (MCW AU), an Australian real estate investment trust, slumped 2 cents, or 9.5 percent, to 19 cents, a record low. The company will be removed from the S&P/ASX 100 after the close of trade on Dec. 19, Standard & Poor’s Index Services said in a statement today.

Nufarm Ltd. (NUF AU), Australia’s only maker of crop protection chemicals, surged 45 cents, or 5.3 percent, to A$8.95, the most since Nov. 28. JPMorgan Chase & Co. raised the company’s rating to “overweight” from “neutral.”

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