Stocks to watch on the Australian stock exchange on Tuesday, July 17
AAC – AUSTRALIAN AGRICULTURAL COMPANY – up 1.5 cents at $1.13
Beef producer Australian Agricultural Company (AACo) has reached a tentative agreement with Western Australia’s Bunuba people to manage the Leopold and Fairfield cattle stations in the Kimberley region.
GLG – GERARD LIGHTING GROUP LTD – in trading halt, last traded at 80.5 cents
Gerard Lighting Group has been placed in a trading halt at the request of the company, pending the release of a possible strategic transaction.
GNS – GUNNS LTD – in trading halt, last traded at 16 cents
Woodchipper Gunns Ltd is to sell its Portland, Victoria woodchip export plant for $61.8 million to Australian Bluegum Plantations.
PFL – PATTIES FOODS LTD – down two cents at $1.55
Patties Foods hopes to post a seven per cent increase in full year profit as its Four’N Twenty pies sell well despite tough trading conditions and pressure from the major supermarket chains.
RFG – RETAIL FOOD GROUP LTD – steady at $2.55
Retail Food Group Limited (RFG) has agreed not to blame the carbon price for any increase in prices at its Brumby’s bakeries or other businesses.
SGT – SINGAPORE TELECOMMUNICATIONS LTD – up four cents at $2.69
Commuters will start receiving phone and internet coverage in some of Sydney’s train tunnels this week – 16 years after Optus first offered to carry out the work.
SWM – SEVEN WEST MEDIA LTD – in trading halt, last traded at $1.62
Seven West Media has renewed its faith in its print media assets and expects an eventual turnaround in the moribund advertising market as it taps shareholders for $440 million.
TLS – TELSTRA CORPORATION – down one cent at $3.83
Australian phone company Telstra may add to the $NZ840 million ($A659.26 million) it will get from the sale of its New Zealand unit by swapping certain spectrum rights with Vodafone New Zealand that could then be on-sold.
VTA – VITERRA INC – down nine cents at $15.42
The Canadian government has approved commodities trader Glencore International’s $6 billion takeover of dual-listed agribusiness Viterra Inc, but the transaction still requires the approval of the Chinese government.
WBC – WESTPAC BANKING CORPORATION – up 11 cents at $22.16
Westpac Banking Corporation is raising $500 million through the issue of subordinated notes.
WES – WESFARMERS LTD – up 37 cents at $31.14
A Victorian judge has granted an interim order prohibiting striking workers from blocking delivery trucks at a Coles warehouse in Melbourne’s north.
WHC – WHITEHAVEN COAL LTD – up 62 cents at $4.07
Miner Whitehaven Coal’s shares shot up 18 per cent on Monday in response to billionaire Nathan Tinkler’s high-premium takeover offer.
WPL – WOODSIDE PETROLEUM LTD – up 26 cents at $30.56
Woodside Petroleum has been told it must steer clear of fossilised dinosaur footprints if goes ahead with building its $30 billion gas development in Western Australia’s Kimberley region.
