Stocks to watch on the Australian stock exchange on Friday, October 19
AGO – ATLAS IRON LTD – up eight cents at $1.58
Iron ore producer Atlas Iron has lifted its shipping targets and plans to expand production capacity, despite axing around 30 positions.
ARI – ARRIUM LTD – up two cents at 78.5 cents
Miner and steel maker Arrium has made its first sale of iron ore from its Southern Iron operation in South Australia.
BOQ – BANK OF QUEENSLAND – down eight cents at $7.27
Bank of Queensland (BOQ) says it has turned a corner after posting a full year loss of $17.1 million, the first full year loss by an Australian bank in 20 years.
CQR – CHARTER HALL RETAIL REIT – in a trading halt, last traded at $3.50
Property Trust Charter Hall Retail is seeking to raise $100 million to fund the acquisition of several sub-regional shopping centres in NSW.
HIL – HILLS HOLDINGS LTD – down 40 cents at 75 cents
Shares in Hills Holdings have plunged nearly 35 per cent after the clotheslines, electronics and building products supplier’s earnings in the first three months of the financial year fell 45 per cent.
MGX – MOUNT GIBSON IRON LTD – up 12 cents at 78.5 cents
Mount Gibson Iron will axe 270 jobs, including 140 contractors, in response to volatile iron ore prices.
NCM – NEWCREST MINING LTD – up 34 cents at $27.96
Gold miner Newcrest expects gold production to progressively increase over the remainder of the year after a fall in quarterly production due to processing interruptions.
QAN – QANTAS AIRWAYS LTD – up 2.5 cents at $1.355
Qantas will spend $30 million upgrading its Brisbane heavy maintenance facility and hire up to 30 new apprentices in the Queensland capital.
STO – SANTOS LTD – down one cent at $11.79
Oil and gas company Santos has maintained its full year forecasts and achieved record quarterly sales revenue due to a steep increase in the gas price.
TEN – TEN NETWORK HOLDINGS LTD – down 0.5 cents at 30.5 cents
Ten Network Holdings is set to axe about 100 jobs from its newsroom after poor television ratings led to a full year net loss of almost $13 million.
WOW – WOOLWORTHS LTD – down seven cents at $29.09
Woolworths chief Grant O’Brien is hopeful of happier times ahead for the retail sector, with the supermarket giant enjoying a 4.3 per cent lift in first quarter sales.
WPL – WOODSIDE PETROLEUM LTD – up 81 cents at $35.20
Woodside Petroleum has lifted its full year targets and unveiled record production results, thanks to a better than expected performance at its Pluto operation.
