STOCKS TO WATCH ON THE AUSTRALIAN STOCK EXCHANGE FRIDAY September 2
ADU – ADAMUS RESOURCES LTD – up one cent at 66 cents
Ghana-based gold miner Adamus Resources expects to complete its planned merger with Toronto-listed Endeavour Resources by November.
BSL – BLUESCOPE STEEL LTD – up three cents at 85 cents
Thousands of angry workers have condemned BlueScope Steel’s management at a mass meeting in the NSW Illawarra region.
CSR – CSR LTD – down 12 cents at $2.47
Building products maker CSR Ltd says it will close manufacturing lines in Melbourne, with redundancies, and restructure its Viridian glass business to cope with the challenging business environment.
IBG – IRONBARK ZINC LTD – up 3.5 cents at 28.5 cents
Ironbark Zinc’s major shareholder could be making a bid for the junior Australian explorer, which has struck a deal with a Chinese firm to develop one of the world’s largest zinc projects in Greenland.
LEI – LEIGHTON HOLDINGS LTD – up 27 cents at $20.55
Construction giant Leighton Holdings will vigorously defend claims in a proposed class action that it did not properly inform shareholders about its massive slump in financial performance.
QAN – QANTAS AIRWAYS LTD – up 2.5 cents at $1.595
SGT – SINGAPORE TELECOMMUNICATIONS LTD – up two cents at $2.44
Optus customers will earn Qantas Frequent Flyer (QFF) points when they spend money on telco services due to a new deal between the two companies.
Jetstar group chief executive Bruce Buchanan to speak at Australian American Association lunch.
RIO – RIO TINTO LTD – up 56 cents at $73.08
Global iron ore production growth will need to be at a rate of at least 100 million tonnes per annum over the next eight years to meet rising demand, mining giant Rio Tinto says.
TLS – TELSTRA CORPORATION LTD – up three cents at $3.06
Telstra will be almost $5 billion better off under its current structural separation plan than if it competes with the national broadband network (NBN), according to independent analysis.
