Stocks to watch on the Australian stock exchange on Tuesday, July 31
AGK – AGL ENERGY LTD – down 14 cents at $15.81
AGL Energy Ltd says Graeme Hunt will join the board as a non-executive director in September.
APN – APN NEWS AND MEDIA LTD – down one cent at 53 cents
APN News and Media has named a new chairman and had a lucrative advertising contract with the NSW State Transit Authority bus fleet extended.
AOH – ALTONA MINING LTD – steady at 27 cents
Australia’s Altona Mining and global giant Xstrata may have to call in an independent expert, with the pair unable to broker a price for Altona’s Roseby Copper project.
BPT – BEACH ENERGY LTD – down 2.5 cents at $1.07
Oil and gas producer Beach Energy is forecasting profit growth in the 2012/13 financial year after exceeding its production forecasts in 2011/12.
ELD – ELDERS LTD – steady at 22.5 cents
Agribusiness Elders will axe 75 jobs at its Adelaide headquarters before September 30 in a move to cut costs.
FMS – FLINDERS MINES LTD – steady at 11.5 cents
Flinders Mines says it can now start developing its flagship $1.1 billion Pilbara iron ore project with no commercial impediments after a takeover bid for the miner by a Russian steel-maker fell through early in July.
IVA – IVANHOE AUSTRALIA LTD – up 1.5 cents at 46 cents
Miner Ivanhoe Australia’s tumultuous year continued as it announced plans to slash exploration spending by half.
NFE – NORTHERN IRON LTD – up 11 cents at $1.15
Shares in takeover target Northern Iron soared after the miner revealed it now had two suitors vying for its attention.
TLS – TELSTRA AUSTRALIA CORPORATION – up two cents at $3.98
Telstra shares hit $4 for the first time in four years as the telco starts to benefit from its recent involvement with the national broadband network (NBN) and growth in its mobile and broadband businesses.
TSE – TRANSFIELD SERVICES LTD – up 8.5 cents at $1.835
FMG – FORTESCUE METALS GROUP LTD – down six cents at $4.09
RIO – RIO TINTO LTD – up 30 cents at $52.30
Engineering firm Transfield Services has won $100 million in new work with resources companies in Western Australia’s Pilbara region.
