News Headline Summary

Pre-market Australian stock news…

White-haven Coal (WHC AT)
- China's Shenhua Group and an unidentified Japanese firm have approached Farallon Capital Management's Noonday unit about buying the 19.4% stake in Whitehaven Coal owned by Nathan Tinkler.

Leighton (LEI AT), Macmahon (MAH AT)
- Sembawang says Macmahon Holdings rejects proceeding with due diligence.

Rio Tinto (RIO AT)
- Iron-ore port of Dampier reopens as Severe Tropical Cyclone Narelle passes.

Woodside Petroleum (WPL AT)
- Oil production and storage vessels servicing fields operated by Woodside have moved away from the projects in offshore Western Australia as cyclone Narelle nears.

BHP Billiton (BHP AT) and Fortescue Metals (FMG AT)
- BHP Billiton and Fortescue Metals are poised to report strong December-quarter iron ore production following record shipments from Port Hedland. (The Australian)

OZ Mineral (OZL AT) and Cochlear (COH AT)
- Both Companies are believed to be at the central of federal policy investigations into alleged foreign bribes. (The Australian Financial Reviews)

Broker moves
- BHP Billiton (BHP AT) downgraded to underperform from neutral at BofA ML.
- Platinum Asset (PTM AT) cut to Neutral at Nomura.
- UGL (UGL AT) cut to Neutral at CIMB.
- Mesoblast (MSB AT) raised to outperform from neutral at Credit Suisse.

13 Jan 2013 - 22:30 - Metals - Source: Newswires/The Australian/The Australian Financial Reviews/

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