Stocks to watch on the Australian stock exchange on Friday, October 5:
ACN – ACER ENERGY LTD – up seven cents, or 36 per cent, at 26.5 cents
DLS – DRILLSEARCH ENERGY LTD – down three cents, or two per cent, at $1.55
Cashed-up oil and gas producer Drillsearch Energy has moved to expand by making a $118 million takeover offer for fellow Cooper Basin explorer Acer Energy.
ARI – ARRIUM LTD – three cents, four per cent, at 74.5 cents
Arrium said it expects total export iron ore sales to reach between eight and nine million tonnes for fiscal 2013 as port capacity at Whyalla increases from 12 to 13 million tonnes.
BBG – BILLABONG INTERNATIONAL LTD – down 24 cents, or 18.25 per cent, at $1.075
Billabong remains in takeover talks with suitor TPG, despite speculation that the private equity firm is considering withdrawing its $694.5 million bid.
ELD – ELDERS LTD – up five cents, or 1.45 per cent, at $3.49
RHL – RURALCO HOLDINGS LTD – up 1.5 cents, or 5.77 per cent, at 27.5
Ruralco Holdings has made overtures to Elders to discuss a possible merger between the two agribusinesses, but no formal proposal has been put on the table.
NWS – NEWS CORPORATION – up 35 cents, or 1.45 per cent, at $24.75
NWSLV – NEWS CORPORATION non-voting stock – up 26 cents, or one per cent, at $24.45
Australian superannuation funds have joined a global push to end Rupert Murdoch’s dual role as chairman and chief executive of News Corporation.
QAN – QANTAS AIRWAYS LTD – down one cent at $1.22
Qantas Airways and Emirates are no longer seeking interim authorisation from the competition regulator for their proposed alliance.
RFG – RETAIL FOOD GROUP – in a trading halt, last traded at $3.00
Retail Food Group (RFG) says it will raise $38 million through the issue of new shares for potential new acquisitions and to fund the purchase of the Crust pizza chain.
TCL – TRANSURBAN GROUP – up six cents, or one per cent, at $6.16
Toll road operator Transurban is urging an overhaul of the way motorists are tolled in a bid to reduce traffic congestion.
