Stocks to watch on the Australian stock exchange on Tuesday, July 10
ACL – ALCHEMIA LTD – up 4.5 cents at 54.5 cents
Drug developer Alchemia intends to demerge its oncology (cancer) business to form a new company and list it on the United States market.
APE – AP EAGERS LTD – up eight cents at $3.75
AHE – AUTOMOTIVE HOLDINGS LTD – up two cents at $2.53
AP Eagers is to acquire a 16.33 per cent take in fellow vehicle dealership group Automotive Holdings, giving the Brisbane-headquartered company exposure to the mining boom state of Western Australia.
COK – COCKATOO COAL LTD – down one cent at 20 cents
A major coal project planned for central Queensland is a step closer to fruition.
CTM – CENTAURUS METALS LTD – up 3.5 cents at 47 cents
Explorer Centaurus Metals said it expected to be an iron ore producer in Brazil by the end of next year after securing backing for a $26.2 million equity raising.
FMG – FORTESCUE METALS GROUP LTD – down five cents at $4.83
Fortescue Metals Group says it’s pleased with the Queensland government’s decision to challenge the mining tax in the High Court.
GMT – GOODMAN PROPERTY TRUST – up 1.5 cents at $1.02
Goodman Property Trust has sold the Vector Centre in Newmarket, Auckland, for $NZ20.35 million ($A16.03 million) to a private investor.
ILU – ILUKA RESOURCES LTD – down $2.82 or 24.1 per cent at $8.88
Shares in Iluka Resources plunged after the mineral sands miner downgraded its 2012 sales forecasts.
LEI – LEIGHTON HOLDINGS LTD – up three cents at $16.51
Construction giant Leighton Holdings has sold its Thiess Waste Management to Remondis AG & Co KG for $218 million.
LLC – LEND LEASE GROUP – down one cent at $7.46
Lend Lease has secured $2 billion in funding for its Barangaroo development on Sydney Harbour.
MIR – MIRRABOOKA INVESTMENTS LTD – up eight cents at $1.89
Listed investment fund Mirrabooka’s full year profit rose by 18 per cent as its investments in small and mid-sized companies bucked the negative trend of the wider market.
MYX – MAYNE PHARMA GROUP LTD – down three cents at 42 cents
Shares in Mayne Pharma Group have dropped by more than six per cent amid news the pharmaceuticals company is being sued in the United States.
