BHP Billiton, Rinker, Rio Tinto: Australian Equity Preview

Friday, May 11, 2007
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The following is a list of companies whose shares may rise or fall in Australia. This preview includes news announced after markets closed yesterday. Prices are from yesterday's close unless otherwise stated. Stock symbols are in brackets after the company names.

The S&P/ASX 200 Index futures contract due in June slid 1.1 percent to 6303 at 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index dropped 2.1 percent in New York.

The S&P/ASX 200 yesterday rose 14.50, or 0.2 percent, to 6355.50.

Mining shares: A measure of six metals traded on the London Metal Exchange, including copper and zinc, dropped 1.7 percent. Copper slid fell 2 percent and zinc slid 2 percent. American depositary receipts of BHP Billiton Ltd. (BHP AU), the world's biggest mining company, lost 3.7 percent to the equivalent of A$31.19 a share in New York, 1.9 percent lower than the stock's close of A$31.80 in Sydney. ADRs of Rio Tinto Group's (RIO LN) London-based shares slumped 5.2 percent.

U.S.-linked shares: U.S. shares tumbled the most in almost two months after falling retail sales, higher import prices and a wider trade deficit heightened concern the economy will slow.

Sales at 53 U.S. retail chains fell a combined 2.4 percent, the International Council of Shopping Centers said. A record 80 percent of retailers missed analysts' estimates in April, according to Retail Metrics Inc. The nation's trade deficit rose 10.4 percent in March from a month earlier, more than economists expected.

Rinker Group Ltd. (RIN AU), the biggest supplier of cement blocks in the U.S., fell 0.2 percent to A$19.05. Westfield Group (WDC AU), the world's biggest owner of shopping malls, added 0.2 percent to A$22.11.

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