Stocks to watch on the Australian stock exchange on Monday, August 20
ANZ – ANZ BANKING GROUP LTD – up 71 cents at $24.61
ANZ says its expansion into Asia gives it an advantage over rivals competing in an Australian market where credit growth is set to remain weak.
APN – APN NEWS & MEDIA LTD – down five cents at 42 cents
APN News and Media boss Brett Chenoweth is adamant there is a future for local newspapers despite his admission that times are tough in the publishing industry.
BHP – BHP BILLITON LTD – up 12 cents at $33.00
MELBOURNE, Aug 19 AAP – BHP Billiton will this week post its first profit fall in three years in what some will see as a symbolic end to the mining boom.
CBA – COMMONWEALTH BANK OF AUSTRALIA – up 30 cents at $57.35
NAB – NATIONAL AUSTRALIA BANK LTD – up 13 cents at $24.63
WBC – WESTPAC BANKING CORPORATION – up 38 cents at $24.50
An appeal by a consortium of banks that were ordered to pay about $1.58 billion to the liquidators of Bell Group, once controlled by fallen tycoon Alan Bond, has not only failed but backfired.
DUE – DUET GROUP – down one cent at $2.04
Energy infrastructure investor Duet Group has suffered a 62 per cent plunge in full year profit.
HDF – HASTINGS DIVERSIFIED UTILITIES FUND – up six cents at $2.59
APA – APA GROUP – down five cents at $4.65
APA Group has stepped up the bidding war for takeover target Hastings Diversified Utilities Fund (HDF) by increasing its offer by 18 cents.
OZL – OZ MINERALS LTD – down seven cents at $7.18
A new underground copper and gold mine has opened in South Australia’s north, creating more than 150 jobs.
QBE – QBE INSURANCE GROUP LTD – down 61 cents at $13.05
Australians could soon begin to see a welcome end to steep price rises on their insurance policies.
STO – SANTOS LTD – up 36 cents at $11.78
Oil and gas producer Santos says Australia’s first commercial shale gas well is ready to go into production, helping to boost supply and keep prices stable in eastern Australia.
TWE – TREASURY WINE ESTATES LTD – up 16 cents at $4.58
Wine supplier Treasury Wine Estates (TWE) says the Asian market now generates about 20 per cent of the group’s earnings, and investment there will be accelerated.