Stocks to watch on the Australian stock exchange at close on Friday:
CWN – CROWN – up 39 cents, or 3.2 per cent, at $12.60
EGP – ECHO ENTERTAINMENT – down 15 cents, or 5.2 per cent, at $2.76
Shares in casino operator Echo Entertainment have hit an all-time low after it lost out to James Packer’s Crown on plans for billion dollar luxury projects in Sydney.
IGO – INDEPENDENCE GROUP – down 5.0 cents, or 1.8 per cent, at $2.68
Independence Group will cut jobs and halt exploration at its Stockman project in Victoria due to tough economic conditions.
TLS – TELSTRA – up 7.0 cents, or 1.5 per cent, at $4.76
Telstra has signed a $32 million deal to protect government agencies from online viruses and hacking attempts.
TTS – TATTS GROUP – up 1.0 cent at $3.21
TAH – TABCORP – up 1.0 cent at $3.14
The Victorian government will fight a recent loss in a legal battle with betting firms Tatts and Tabcorp.
UGL – UGL – up 14 cents, or 2.0 per cent, at $6.99
Engineering company UGL has won a $110 million three-year contract for maintenance at the Hazelwood power plant east of Melbourne.
VAH – VIRGIN AUSTRALIA – down 1.0 cent at 43.5 cents
Less people flew domestically with Virgin Australia in May, but the airline’s focus on business customers resulted in a higher average airfare per passenger.
