STOCKS TO WATCH ON THE AUSTRALIAN STOCK EXCHANGE TODAY MONDAY, AUGUST 29
ASX – ASX LTD – up eight cents at $29.35
ASX Ltd, the listed owner of the Australian Securities Exchange, has appointed the head of Tabcorp to replace chief executive Robert Elstone.
BHP – BHP BILLITON LTD – up three cents at $38.64
BHP Billiton Ltd has completed its takeover of the US-based Petrohawk Energy Corporation through a short-form merger under Delaware law.
CIF – CHALLENGER INFRASTRUCTURE FUND – up two cents at 95 cents
Challenger Infrastructure Fund announces a full year loss of $808,000, but it’s an improvement on its 2010 loss of $210.712 million.
CNA – COAL & ALLIED LTD – up $4.21 at $122.02
Coal & Allied shareholders who accept the joint takeover offer by parent company Rio Tinto and Japan’s Mitsubishi Development are to receive an $8 fully franked special dividend.
FMG – FORTESCUE METALS GROUP LTD – down three cents at $5.77
Fortescue Metals Group founding director Russell Scrimshaw has stepped down from the iron ore miner’s board to focus on other projects.
FXJ – FAIRFAX MEDIA LTD – up 5.5 cents at 83 cents
Fairfax Media’s sagging shares received a seven per cent boost after the company announced plans to sell part of its New Zealand TradeMe business
GPT – GPT GROUP – down one cent at $2.99
GPT Group has lifted reported first half profit by 67 per cent and says it is on track to be Australia’s best performing property group.
LLC – LEND LEASE GROUP – down 30 cents at $7.89
New Australian infrastructure projects are likely to deliver growth to Lend Lease Group over the next financial year, despite global uncertainty.
PPT – PERPETUAL LTD – up $2.42 at $26.49
Perpetual’s shares jumped to a 10-week high after the wealth manager and trustee announced a $70 million off-market share buy-back and an annual profit in line with expectations.
RMS – RAMELIUS RESOURCES LTD – up two cents at $1.545
Gold miner Ramelius Resources has tripled its full year net profit due to high prices for the precious metal and increased production.
SGM – SIMS METAL MANAGEMENT LTD – up 47 cents at $15.29
The world’s largest scrap metal recycler, Sims Metal Management, has posted a 51.6 lift in full year profit on the back of a vastly improved performance by its ferrous (iron) division.
SKI – SPARK INFRASTRUCTURE GROUP – down one cent at $1.315
Utility owner Spark Infrastructure Group has reported a drop in its first half profit but expects a better performance in the second half of 2010/11.
