News from AAP

Stocks to watch on Wednesday

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Stocks to watch on the Australian stock exchange:

BHP – BHP BILLITON

FMG – FORTESCUE METALS GROUP

RIO – RIO TINTO

The price of iron has soared toward the $US60-mark, lifting $US2.60 to $US59.22.

FMG – FORTESCUE METALS GROUP

Fortescue Metals is expected to release its March quarter production report.

ORG – ORIGIN ENERGY

STO – SANTOS

WPL – WOODSIDE PETROLEUM

Oil prices have again gained, with Brent crude up 3.9 per cent, or $US1.41, to $US44.24 and WTI up 4.48 per cent, or $US1.81 at $US42.17.

WES – WESFARMERS

Wesfarmers could still feel the impact of revelations that Target arranged cheaper prices with overseas suppliers for the first half of fiscal 2016 on the promise it would pay more in the second half, giving its earnings an artificial boost.