Stocks to watch on the Australian stock exchange on Friday, August 10
AVJ – AV JENNINGS LTD – steady at 31 cents
Residential developer AV Jennings says its short-term outlook for the property market remains uncertain after it posted a $29 million full year loss.
BEN – BENDIGO AND ADELAIDE BANK LTD – up 18 cents at $8.66
IFL – IOOF HOLDINGS LTD – down 40 cents at $6.00
Bendigo and Adelaide Bank has sold its 7.8 per cent stake in listed wealth management firm IOOF for $110 million.
CBA – COMMONWEALTH BANK OF AUSTRALIA – down 56 cents at $57.03
The Commonwealth Bank of Australia (CBA) says its acquisition of BankWest saved the Australian economy from a major financial shock during the global downturn.
FXL – FLEXIGROUP LTD – down 13 cents at $3.08
Australian financial services company FlexiGroup says its cash profit is likely to grow by up to 16 per cent in the year ahead as it searches for a new chief executive.
HDF – HASTINGS DIVERSIFIED UTILITIES FUND – down one cent at $2.54
APA – APA GROUP – down nine cents at $4.76
Takeover target Hastings Diversified Utilities Fund (HDF) says it will consider an increased offer from pipeline operator APA Group.
NWS – NEWS CORPORATION – down 73 cents at $21.88
NWSLV – NEWS CORPORATION NON VOTING SHARES – down 78 cents at $21.72
Rupert Murdoch’s struggling Australian newspapers have helped drag down News Corporation’s performance enough to produce a fourth quarter loss of $US1.6 billion ($A1.52 billion).
RIO – RIO TINTO LTD – up $1.97 at $56.86
Meridian Energy, one of the state-owned power companies earmarked for partial sale, says Rio Tinto’s Pacific Aluminium unit wants to vary the terms of its electricity supply contract for the aluminium smelter at Bluff.
TAH – TABCORP HOLDINGS LTD – down 11 cents at $3.20
Gambling firm Tabcorp Holdings says 20 per cent of its online wagering turnover is being placed through mobile devices such as smartphones and tablets.
TLS – TELSTRA CORPORATION – down nine cents at $3.88
Telstra shares have been marked down despite the company growing profits and boosting mobile subscriber numbers.
WEB – WEBJET LTD – up 14 cents at $3.65
Online travel agent Webjet posted a net profit increase of nearly 25 per cent to $13.6 million for 2012 as consumer inquiries to the site through mobile devices doubled.
WBC – WESTPAC BANKING CORPORATION – down 12 cents at $24.01
People are paying off their debt faster than ever, says Australia’s biggest bank.
