Stocks to watch on the Australian stock exchange Thursday, Oct 13
AAI – ALCOA INCORPORATED – untraded at $10.50
Alcoa’s quarterly profit has fallen short of expectation as worries about the global economy hurt aluminum prices
AKM – ASPIRE MINING LTD – down four cents at 44.5 cents
Junior coking coal explorer Aspire Mining has raised $32.8 million via a discounted placement of new shares to fund exploration at its Ovoot project in Mongolia.
BHP – BHP BILLITON LTD – down 31 cents at $37.08
Mining giant BHP Billiton has approved $US1.2 billion of funds for the first phase of the Olympic Dam copper, gold and uranium mine expansion in South Australia.
BOL – BOOM LOGISTICS LTD – up 3.5 cents at 26.5 cents
Crane operator Boom Logistics has sold some of its Victorian assets for $7.5 million and has reported improved first quarter earnings.
BSL – BLUESCOPE STEEL LTD – up 2.5 cents at 92 cents
Union boss Paul Howes is calling on Opposition Leader Tony Abbott to “save the steel industry” by the coalition backing the $300 million industry assistance package for its workers.
ERA – ENERGY RESOURCES OF AUSTRALIA LTD – in trading halt, last traded at $3.29
Energy Resources Australia (ERA) hopes to raise $500 million in a discounted new share sale to fund exploration at its Ranger uranium mine to extend the project’s life.
FBU – FLETCHER BUILDING LTD – down 76 cents at $5.43
Fletcher Building shares tumbled, wiping more than half a billion dollars off the company’s market value, after it said earnings growth will stall this year.
FMG – FORTESCUE METALS GROUP LTD – down nine cents at $4.72
Fortescue Metals Group has increased its iron ore reserves at the Nyidinghu deposit by 980 million tonnes.
ILU – ILUKA RESOURCES LTD – down 55 cents at $15.50
Mineral sands producer Iluka Resources says it expects about a 10 per cent rise in its average weighted price for zircon in the three months to December 31.
JBH – JB HI-FI LTD – up 490 cents at $14.36
Consumer electronics chain JB Hi-Fi remains optimistic that sales will be strong this Christmas despite a fall in like-for-like revenue in the three months to September.
LEI – LEIGHTON HOLDINGS LTD – down 32 cents at $20.29
Leighton Holding’s Middle East subsidiary has won a $US290 million ($A292.15 million) construction contract for the first phase of a shopping mall in Qatar.
NWS – NEWS CORPORATION – up two cents at $16.87
NWSLV – NEWS CORPORATION NON-VOTING SHARES – down three cents at $16.76
A leading shareholder advisory firm says most of News Corp’s board, including Chairman Rupert Murdoch, should be replaced because of a phone-hacking scandal that has embroiled one of the conglomerate’s British tabloids.
QAN – QANTAS AIRWAYS LTD – last traded at $1.555
Qantas pilots are escalating their industrial campaign and planning a shareholder revolt even though senior captains earn more than the prime minister.
Separately, Qantas baggage handlers and ground crew have begun their latest round of industrial action, causing delays and cancellations for passengers across the country.
TAH – TABCORP HOLDINGS LTD – up 11 cents at $2.71
Wagering and gaming firm Tabcorp Holdings’ revenue for the first three months of the 2011/12 financial year rose by 2.7 per cent compared to the same period last
TRS – THE REJECT SHOP – down 19 cents at $10.28
Discount retailer the Reject Shop will press ahead with plans to almost double its outlets to 400, despite a difficult year when flooding closed its main distribution centre.
