Stocks to watch on the Australian stock exchange on Tuesday:
BBG – BILLABONG – up two cents, or 3.1 per cent, at 66.5 cents
Billabong has wrapped up the sale of its 51 per cent stake in the online retailers SurfStitch.com, and its North American web-based retail operation Swell.com to a consortium.
GFF – GOODMAN FIELDER – down one cent, or 1.6 per cent, at 63 cents
A planned foreign takeover of Australia’s biggest food maker, Goodman Fielder, has hit a hurdle amid delays in obtaining regulatory approval from China.
SIP – SIGMA PHARMACEUTICALS – down two cents, or 2.4 per cent, at 82.5 cents
Sigma has bought discount pharmacy chain DDS for $26.7 million.
WDR – WESTERN DESERT RESOURCES – suspended from trading, last traded at 14.5 cents
BHP – BHP BILLITON – up one cent, or 0.03 per cent, at $35.66
FMG – FORTESCUE METALS – up eight cents, or 2.04 per cent, at $4.00
RIO – RIO TINTO – down 28 cents, or 0.5 per cent, at $61.02
Junior miner Western Desert Resources has collapsed, blaming the recent plunge in iron prices – to a fresh low of $83.60 a tonne – and the strong Australian dollar for its financial woes.
WOR – WORLEYPARSONS – up four cents, or 0.25 per cent, at $15.79
WorleyParsons had signed a deal to provide engineering, procurement and construction management services as part of the expansion of Columbia’s main oil pipeline.
WOW – WOOLWORTHS – up seven cents, or 0.2 per cent, at $36.38
Woolworths’ hotels arm is selling more than $600 million worth of liquor stores and pubs in a deal that will see it lease them back for the next 20 years.
