News Headline Summary

Pre-market Australian stock news...

BHP Billiton (BHP AT)
- Co.’s CEO expected slowdown in demand for minerals over next 5 years makes cutting costs and boosting productivity a priority.

Lynas (LYC AT)
- H1 loss from cont. ops AUD 56.6mln vs. AUD 38.5mln Y/Y.

Ten (TEN AT)
- Co. appointed McLennan as chief executive officer, replacing Warburton after a year in the job.

Santos (STO AT)
- Co. says USD 18.5bln Gladstone LNG project is on budget and it will not need to sell shares to raise funds.

QBE (QBE AT)
- Co. is to send 700 jobs overseas in cost-cutting drive. (The Australia Financial Reviews)

Woodside Petroleum (WPL AT)
- Co.’s CEO has pointed to a 12-month window of opportunity to reach a deal with Timor-Leste on the development of the Sunrise gas field in the Timor Sea, saying the time is ripe for a deal. (The Australia Financial Reviews)

Pre-market broker moves..
- Alumina (AWC AT) raised to Neutral at Credit Suisse
- Billabong International (BBG AT) cut to Neutral at CIMB; cut to Reduce at Nomura
- Macquarie Atlas (MQA AT) cut to Sell at Deutsche Bank
- Monadekphous Group (MND AT) raised to Outperform at CIMB
- Sims Metal Management (SGM AT) cut to Underperform at Credit Suisse
- TPG Telecom (TPM AT) cut to Reduce at Nomura

24 Feb 2013 - 22:22 - Equities - Source: Newswires/The Australian Financial Reviews

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