Stocks to watch on the Australian stock exchange on Wednesday:
CEU – CONNECTEAST GROUP – steady at 54.5 cents
Horizon Roads’ $2.17 billion take-over of toll road owner ConnectEast will proceed after the deal received legal approval.
DOW – DOWNER EDI LTD – down five cents, or 1.8 per cent, at $2.75
Engineering and infrastructure services firm Downer EDI has been awarded a $142 million contract to carry out electrical work on a resource project in Western Australia’s Pilbara region.
IDL – INDUSTREA LTD – down 3.5 cents, or 2.9 per cent, at $1.155
RIO – RIO TINTO LTD – down 30 cents, or 0.5 per cent, at $59.00
Mining services and products supplier Industrea has extended a contract, worth about $100 million in revenue, with Rio Tinto.
LEI – LEIGHTON HOLDINGS LTD – down 11 cents, or 0.6 per cent, at $18.17
Iraq has awarded a $US518 million ($A545.35 million) contract to expand oil export facilities in the south of the country to a subsidiary of Australian firm Leighton International, the government said on Tuesday.
Workers will not return to the construction site of Australia’s longest road tunnel, the Brisbane Airport Link, until at least Thursday, demanding beefed up safety after a man’s death.
QAN – QANTAS AIRWAYS LTD – last traded at $1.375
Qantas CEO Alan Joyce and other senior executives have received death threats.
SDL – SUNDANCE RESOURCES LTD – up 2.5 cents, or 5.8 per cent, at 45.5 cents
China’s Hanlong Mining has pledged to keep investing in Australian miners after Sundance Resources capitulated to its largest shareholder’s improved $1.65 billion takeover offer.
