Stocks to watch on the Australian stock exchange on Friday:
CSL – CSL LTD – up $1.06, or 3.68 per cent, at $29.87
Pharmaceutical company CSL Ltd says it has addressed the majority of manufacturing flaws highlighted by the US Food and Drug Administration (FDA), and remaining concerns are currently being resolved.
EGP – ECHO ENTERTAINMENT GROUP LTD – down nine cents, or 2.44 per cent, at $3.60
Casinos operator Echo Entertainment Group has appointed twonew directors.
FMG – FORTESCUE METALS GROUP LTD – down seven cents, or 1.55 per cent, at $4.45
Fortescue chairman Andrew Forrest has a shot at clearing his name, after telling the High Court he was denied natural justice by the Federal Court that found he misled or deceived investors.
GNS – GUNNS LTD – steady at 18 cents
Timber company Gunns says the Tasmanian Environmental Protection Agency’s (EPA) view that work has substantially commenced on Gunns’ pulp mill project at Bell Bay “adds clarity” to the project.
NAB – NATIONAL AUSTRALIA BANK LTD – down 45 cents, or 1.96 per cent, at $22.50
National Australia Bank insists it remains focussed on growing its UK business after Moody’s downgraded the ratings on NAB’s Clydesdale Bank due to speculation it would be sold off.
QAN – QANTAS AIRWAYS LTD – down three cents, or 2.07 per cent, at $1.42
A former cabin attendant with Qantas’s budget carrier Jetstar Airlines says flight safety is being endangered by some crew being forced to work extremely long shifts.
The competition regulator has approved Qantas Airways’ proposed alliance with American Airlines on trans-Pacific routes.
The airline also said its passenger numbers rose 6.7 per cent in August when compared with the prior corresponding period, while yields on domestic and international flying in the financial year to August were also higher.
