Stocks to watch on the Australian stock exchange on Thursday:
APN – APN NEWS & MEDIA LTD – down two cents, or 2.3 per cent, at 85 cents
FXJ – FAIRFAX MEDIA LTD – down three cents, or 3.75 per cent, at 77 cents
MRN – MACQUARIE RADIO LTD – up five cents, or six per cent, at 89 cents
NWS – NEWS CORPORATION – down 10 cents at $15.55
SWM – SEVEN WEST MEDIA LTD – down 13 cents, or 4.6 per cent, at $2.67
SXL – SOUTHERN CROSS MEDIA GROUP LTD – down 4.5 cents, or 4.1 per cent, at $1.055
TEN – TEN NETWORK HOLDINGS LTD – down three cents, or 3.4 per cent, at 86 cents
Major news groups have warned against government regulation of print and online media, as Labor launched the first big inquiry into the sector in two decades and flagged the possibility of a single body to deal with complaints.
Separately, a group of US investors have added fresh charges to a lawsuit alleging mismanagement at Rupert Murdoch’s News Corp.
CEU – CONNECTEAST GROUP – down 1.5 cents, or 2.9 per cent, at 51 cents
A $2.17 billion takeover offer for toll road owner ConnectEast has gained all regulatory and lender approvals.
GNS – GUNNS LTD – untraded at 20.5 cents
Timber company Gunns has accepted a $23 million offer from the Tasmanian government to cease logging in the state’s native forests.
LEI – LEIGHTON HOLDINGS LTD – down 70 cents, or 3.9 per cent, at $17.45
Leighton Holdings Ltd has appointed of Bruce Munro as managing director of wholly-owned subsidiary Thiess.
MMX – MURCHISON METALS LTD – down 1.5 cents, or 2.7 per cent, at 54.5 cents
West Australian Premier Colin Barnett will fly to Beijing on Wednesday night to meet Chinese government officials as he seeks to save the Oakajee port and rail project.
MPO – MOLOPO ENERGY LTD – up half a cent at 68.5 cents
Molopo Energy has booked a jump in full year profit following a $138.4 million net gain on the sale of the junior oil and gas explorer’s Spearfish oil asset in Canada.
MTS – METCASH LTD – down one cent at $4.14
The competition watchdog has lodged its appeal against a Federal Court decision clearing the way for the owner of IGA supermarkets to acquire the Franklins chain.
NHC – NEW HOPE CORPORATION LTD – down 13 cents, or 2.5 per cent, at $5.05
BHP – BHP BILLITON LTD – down 39 cents, or 1.1 per cent, at $36.90
Union members are planning industrial action at another Queensland coal mine after slow wage negotiations
PPT – PERPETUAL LTD – down 79 cents, or 3.5 per cent, at $21.50
Volatile equity markets and funds outflows drove a 4.7 per cent decline in Perpetual Ltd’s funds under management (FUM) during August.
SIP – SIGMA PHARMACEUTICALS LTD – up six cents, or 11.5 per cent, at 58 cents
Sigma Pharmaceuticals has posted an improved half year net profit $26.7 million on the back of a greater market share and lower interest costs.
QAN – QANTAS AIRWAYS LTD – down .5 cents, at $1.49
More than 3000 Qantas baggage handlers and caterers are preparing to take nationwide strike action that could disrupt flights for up to 48 hours.
Qantas Airways expects to stick with the Boeing 747 for its flights to Dallas/Fort Worth even after it takes delivery of the smaller 787 Dreamliners.
TTS – TATTS GROUP LTD – down two cents at $2.13
Tatts Group Ltd’s wholly owned subsidiary Maxgaming Vic has failed to secure the licence for monitoring Victoria’s 27,000 gaming machines after August 2012.
