Stocks to watch on the Australian stock exchange on Tuesday, May 1
AXE – ARCHER EXPLORATION LTD – up five cents at 40 cents
BHP – BHP BILLITON LTD – up 66 cents at $35.55
The world’s biggest miner BHP Billiton has paid Archer Exploration $8 million to buy out its five tenements near its massive Olympic Dam mine.
BHP – BHP BILLITON LTD – up 66 cents at $35.55
RIO – RIO TINTO LTD – up 92 cents at $66.35
Fortescue boss Andrew Forrest has accused Treasurer Wayne Swan of lying about the amount of revenue the federal government will get from its mining tax.
BTT – BT INVESTMENT MANAGEMENT LTD – down 11 cents at $2.05
Weaker equity markets and the cost of a recent acquisition have caused a 24 per cent drop in BT Investment Management’s first half profit.
COH – COCHLEAR LTD – up $1.30 at $65.65
Hearing-implant maker Cochlear says that a complaint against it for patent infringement has been filed in a United States Court.
FNP – FREEDOM FOOD LTD – up eight cents at 67.5 cents
Freedom Foods’ business unit Pactum Australia will build a UHT processing plant in southeast Australia to meet increased domestic and export demand.
KZL – KAGARA LTD – in trading halt, last traded at 12 cents
The majority of troubled miner Kagara’s 325 workers are likely to lose their jobs this week after it went into voluntary administration.
NAB – NATIONAL AUSTRALIA BANK LTD – up eight cents at $25.23
National Australia Bank (NAB) will spend STG456 million ($A713.11 million) and cut 1,400 British jobs to prevent its struggling UK business from causing more damage to its bottom line.
ORI – ORICA LTD – up eight cents at $26.87
A shipload of potentially explosive chemicals sitting off Newcastle was given the all-clear by a federal agency, the NSW government says.
RHC – RAMSAY HEALTH CARE LTD – up one cent at $20.03
Private hospital operator Ramsay Health Care has reaffirmed its guidance for growth of its core earnings of between 13 and 15 per cent.
SPT – SPOTLESS GROUP LTD – up 10 cents at $2.56
Spotless says the arduous process of dealing with a hostile takeover bid was a major factor behind the company accepting a $720 million offer from private equity firm Pacific Equity Partners.
UGL – UGL LTD – up four cents at $13.08
UGL and CH2M Hill have won a $550 million contract to build the combined cycle power plant for the Ichthys liquefied natural gas (LNG) project in the Northern Territory.
