News Headline Summary

Pre-market Australian stock news...

Newcrest Mining (NCM AT)
- H1 profit AUD 320mln vs. Exp. 292mln. (Newswires)

AGL Energy (AGK AT)
- Govt. again defers decision on whether to approve co.’s Gloucester coal-seam gas project. (Newswires)

Coal Producers
- ACCC proposes to authorize Whitehaven, Linc Energy and three other coal Co.s to collectively bargain with Adani Mining for access to its new coal terminal. (Newswires)

National Australia Bank (NAB AT)
- Co. raises stake in Echo entertainment from 7.661% to 9.961%. (Newswires)
- Co. and other entities increase stake in Graincorp. (Newswires)

Iluka (ILU AT)
- Rio Tinto decision to halt pre-feasibility studies for its titanium expansion project is positive for industry prices in medium term, according to analysts. (Newswires)

Virgin Australia (WAH AT)
- Tiger Airways says JV with Virgin to compete in Australian market and doesn’t plan to seek new investors if ACCC disapproves JV. (Newswires)

Woodside Petroleum (WPL AT)
- Partners in Leviathan natural gas field are expected to announce delay in deal with Woodside due to regulatory uncertainty. (The Marker)

Rio Tinto (RIO AT)
- Mongolian govt. does not support the Oyu Tolgoi Phase 2 project-finance effort initiated by Rio Tinto. (Wall Street Journal)

Broker Moves
- Australand (ALZ AT) Property Group cut to hold at Deutsche Bank.
- Myer (MYR AT) cut to hold at Deutsche Bank.
- Rex Minerals (RXM AT) cut to underweight at underweight at JPMorgan.

07 Feb 2013 - 22:39 - Energy - Source: Newswires/The Marker/Wall Street Journal

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