BHP, Ausenco, Orica Qantas, Sedgman, QBE: Australian

Monday, Nov 08, 2010
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Mining shares: Copper rose 0.9 percent in New York on Nov. 5, while a measure of metals traded in London gained 0.3 percent.


BHP Billiton Ltd. (BHP AU), the world’s largest mining company, climbed 0.4 percent to A$45.43. Rio Tinto Group (RIO AU), the world’s third-biggest miner, advanced 1.2 percent to A$88.24.


Oil producers: Crude oil surged to its highest level in two years on Nov. 5 as U.S. payrolls rose more than forecast in October.


Woodside Petroleum Ltd. (WPL AU), Australia’s second- biggest oil and gas producer, climbed 1.1 percent to A$46.25. Santos Ltd. (STO AU) gained 1.7 percent to A$13.30.


Ausenco Ltd. (AAX AU), an engineering company, rose 5.1 percent to A$2.49. Hancock Prospecting Pty Ltd., controlled by Australia’s richest woman Gina Rinehart, chose WorleyParsons Ltd. and Ausenco Ltd. to manage the A$7.5 billion ($7.6 billion) development of the Alpha coal mine.


Orica Ltd. (ORI AU) rose 3 percent to A$26.47. The world’s largest industrial explosives maker said full-year net income more than doubled after spinning off its DuluxGroup paints business.


Qantas Airways Ltd. (QAN AU) dropped 3.5 percent to A$2.76. Australia’s biggest airline has found issues with three more Rolls-Royce jet engines following testing after last week’s engine blowout that forced an emergency landing in Singapore, Chief Executive Officer Alan Joyce said in a radio interview with the Australian Broadcasting Corp. today.


QBE Insurance Group Ltd. (QBE AU) fell 0.8 percent to A$17.13. The Australian insurer was downgraded to “neutral” from “buy” at UBS AG.


Sedgman Ltd. (SDM AU), which supplies engineering services to the mining industry, slumped 4.1 percent to A$1.875 after having its stock rating cut to “hold” from “buy” by analysts at Royal Bank of Scotland Group Plc.

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