Alumina, AWB, Rio Tinto, Westfield: Australian Equity Preview

April 27 -- The following is a list of companies whose shares may rise or fall in Australia. This preview includes news announced after markets closed yesterday. Australian prices are from yesterday's close unless otherwise stated. New Zealand prices are today's. Stock symbols are in brackets after the company names.

The S&P/ASX 200 Index futures contract due in June dropped 3 points, or 0.1 percent, to 6231 at 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index fell 1.7 percent in New York.

The S&P/ASX 200 index added 24.00 points to 6212.20. New Zealand's NZX 50 Index gained 3.23 points, to 4178.14, as of 10:47 a.m. in Wellington.

Mining Shares: A measure of six metals traded on the London Metal Exchange fell 1.6 percent. Copper prices fell the most in 12 weeks, with copper for July delivery dropping 2.7 percent on the Comex division of the New York Mercantile Exchange, its biggest percentage decline since Feb. 2. Zinc, lead and aluminum also fell.

American depositary receipts of BHP Billiton (BHP AU), the world's biggest mining company, fell 1.1 percent, to the equivalent of A$29.89 a share in New York, less than the stock's close of A$30.22 in Sydney. London-based shares in Rio Tinto Group (RIO LN), the world's third-largest miner, dropped 26 cents, or 0.8 percent.

Aditya Birla Minerals Ltd. (ABY AU): The Australian copper miner said its copper production increased in the year to March 31, to 58,415 metric tons, from 45,693 metric tons in the 12 months to March 31, 2006. Aditya added 9 cents, or 3.9 percent, to A$2.47.

Alumina Ltd. (AWC AU): The Australian resource company, which owns 40 percent of the world's biggest alumina producer, may be a takeover target for the U.S.-based Alcoa Inc., which is in a joint venture with Alumina, according to the Sydney Morning Herald. Alumina added 12 cents, or 1.7 percent, to A$7.18.

AWB Ltd. (AWB AU): The government will decide today whether to retain Australia's single desk wheat export system, which was controlled by AWB, until it was stripped of the monopoly after it was found to have paid kickbacks to Saddam Hussein's regime, AAP reported. Australia's largest wheat exporter will regain the monopoly power if a decision is not made before the end of June. AWB fell 16 cents, or 4.6 percent, to A$3.30.

Westfield Group (WDC AU): Frank Lowy, billionaire owner of the Australia-based Westfield, will be questioned by Israeli police as part of a criminal investigation into Prime Minister Ehud Olmert's role in the sale of the state-owned bank Leumi Le- Israel Ltd. The world's biggest owner of shopping malls, climbed 14 cents, or 0.7 percent, to A$21.44.