Stocks to watch on the Australian stock exchange on Friday October 26
ANZ – ANZ BANKING GROUP LTD – down 22 cents at $25.38
Small and medium businesses are in for more economic pain, which could worsen if the Australian dollar rises again, ANZ boss Mike Smith warns.
API – AUSTRALIAN PHARMACEUTICAL INDUSTRIES – up 2.5 cents at 50 cents
Australian Pharmaceutical Industries (API) returned to profitability in fiscal 2012 as its Priceline chain defied the retail gloom to expand sales.
AMC – AMCOR LTD – up two cents at $7.78
Global packaging giant Amcor says its Australian business is being hurt by the high Australian dollar and higher labour and energy costs.
EGP – ECHO ENTERTAINMENT GROUP LTD – down 14 cents at $3.65
CWN – CROWN LTD – down three cents at $9.46
Echo Entertainment chairman John O’Neill insists he is relaxed about James Packer opening a rival casino within a proposed $1 billion six-star resort in Sydney.
GSE – GOLDSEARCH LTD – up 0.3 cents at 1.5 cents
Goldsearch shares have risen after the company announced it will conduct a review into the uranium potential at its Elaine prospect in Queensland.
MGR – MIRVAC GROUP – up 2.5 cents at $1.545
Property company Mirvac Group says its focus on the the office sector and regional shopping centres driven by non-discretionary spending was working in subdued market conditions.
NCM – NEWCREST MINING LTD – down 48 cents at $26.01
Gold miner Newcrest says it expects to produce more than three million ounces of the precious metal annually within a few years.
WDC – WESTFIELD GROUP – up 10 cents at $10.58
The ownership structure of some of the country’s largest shopping centres has changed in a multi-million-dollar deal between Westfield and AMP Capital.
WES – WESFARMERS LTD – down three cents at $34.57
Wesfarmers boss Richard Goyder says the latest interest rate cuts could be enough to prompt people to open their wallets before Christmas.
WHC – WHITEHAVEN COAL LTD – in trading halt, last traded at $3.20
Whitehaven Coal is set to become a major coal player and more than double production after it received approval to develop the massive Maules Creek project in NSW.
