News Headline Summary

Pre-market Australian stock news...

BHP Billiton (BHP AT)
- BHP-Mitsubishi JV considers sale of Gregory Crinum mine. (Newswires)

Rio Tinto (RIO AT)
- Co. could be forced to cooperate with Brazilian competitor Vale or abandon plans to build a major export hub for it’s Mozambican coal projects, after the Mozambique mines minister indicated only one rail line will be built. (AFR)

Arrium (ARI AT)
- Co. said to write down USD 474mln on its steel assets due to weak demand and stronger AUD. (Newswires)

Whitehaven Coal (WHC AT)
- Co. says Federal government extends Maules Creek timeframe. (Newswires)

(Suncorp) (SUN AT)
- Co. receives 23,000 claims associated with cyclone. (Newswires)

News Corp (NWS AT)
- Co. doubles net income to USD 2.38bln. (AFR)

Telstra (TLS AT)
- Co. H1 net profit AUD 1.6bln vs. Exp. AUD 1.6bln. (Newswires)

National Australia Bank (NAB AT)
- Co. Q1 profit AUD 1.45bln. Q1 unaudited net profit about AUD 1.26bln. (Newswires)

Australand (ALZ AT)
- Co. FY operating profit AUD 142.1mln. (Newswires)

Coal producers
- China flags plan to cut coal use. China’s decade long boom in coal-driven heavy industry is about to end as the leadership shifts priorities to energy conservation, according to officials and policy advisors. (Sydney Morning Herald)

Broker moves
- Arrium (ARI AT) cut to neutral at Credit Suisse.
- Rex Minerals (RXM AT) cut to underweight at JPMorgan.
- Cochlear (COH AT) cut to underperform at Macquarie.
- Aristocrat Leisure (ALL AT) cut to neutral at Credit Suisse.
- JB-HiFi raised to neutral at Credit Suisse.

Print 22:39, 06 Feb 2013 - Asian News - Source: Newswires/Australian Financial Review/Sydney Morning Herald