Stocks to watch on the Australian stock exchange today (September 1)
BHP – BHP BILLITON LTD – up 39 cents at $39.74
A cashed-up BHP Billiton will spend $US367 million ($A344.31 million) expanding up its coal handling operations at Newcastle in New South Wales.
BUG – BUDERIM GINGER LTD – steady at 10 cents
Food processor Buderim Ginger returned to profitability in the half year to June 30 and expects further improvement in the second half of the year.
CBA – COMMONWEALTH BANK OF AUSTRALIA – up 29 cents at $48.22
COU – COUNT FINANCIAL LTD – down one cent at $1.41
Commonwealth Bank of Australia’s (CBA) bid for Count Financial is an opportunistic move made by chief executive designate Ian Narev at the bottom of the cycle which is light on premium, analysts say.
CNP – CENTRO PROPERTIES GROUP – down 0.3 cents at four cents
The former chief executive of Centro has been fined and its former chief financial officer banned from management for two years for breaches of corporate law.
MMX – MURCHISON METALS LTD – up 0.5 cents at 62 cents
Beleaguered iron ore miner Murchison Metals will release of its full year results in late September after notifying the stock exchange of the date.
ORI – ORICA LTD – down five cents at $23.47
Orica says its Botany Bay in NSW cleanup is not working.
PDN – PALADIN ENERGY LTD – down five cents at $2.10
Uranium doyen John Borshoff says the outlook for nuclear power remains strong even after the Fukushima disaster, which shaved a mere three per cent off demand for the commodity.
PSA – PETSEC ENERGY LTD – down one cent at 16 cents
Oil and gas producer Petsec Energy has booked a solid half year net profit and is now debt free.
QAN – QANTAS AIRWAY LTD – down 0.5 cents at $1.57
Qantas is to enter conciliation talks with long-haul pilots at Fair Work Australia in an attempt to resolve a continuing dispute over pay and conditions.
TLS – TELSTRA CORPORATION LTD – up four cents at $3.03
The national broadband network needs a new sales pitch if Australians are going to stop seeing it as “another big spend”, independent federal MP Rob Oakeshott says.
WPL – WOODSIDE PETROLEUM LTD – down 15 cents at $35.18
Woodside Petroleum has accepted the federal government’s heritage listing of parts of the west Kimberley but downplayed the heritage value of dinosaur footprints in the area.
