Stocks of interest on the Australian Securities Exchange on Tuesday:

ANZ – ANZ BANKING GROUP – down 91 US cents, or 2.66 per cent, at $33.24

Banking giant ANZ releases its half year results on Tuesday.

BHP BHP BILLITON – up 85 cents, or 2.62 per cent, at $33.35

RIO – RIO TINTO – up $1.61, or 2.76 per cent, at $59.90

Ratings agency Standard and Poor’s has downgraded BHP Billiton’s outlook from stable to negative on forecasts of weaker cashflows for the global miner.

S&P removed BHP and fellow mining giant Rio Tinto from credit watch, where they were placed with negative implications earlier this month.

MCS – MCALEESE – down 7.9 cents, or 49.38 per cent, at 8.1 cents

McAleese is warning of a steep drop in full year earnings as it prepares to recommence providing some haulage services to troubled iron ore miner Atlas Iron.

WBC – WESTPAC – down $1.13, or 3.08 per cent, at $35.60

Westpac made a first half cash profit of $3.78 billion, which is flat compared to a year ago.

WOR – WORLEY PARSONS – down $1.10, or 9.61 per cent, at $10.35

Engineering group Worley Parsons is retrenching 2,000 workers as falling commodity prices affect earnings.