Stocks to watch on the Australian stock exchange today.
AGO – ATLAS IRON LTD – down five cents at $1.605
Atlas Iron expects the price of iron ore to increase over the next two months as China’s demand for steel remains strong. Despite Atlas reporting a full year loss, Atlas executive director Mark Hancock was upbeat about the company’s prospects.
ASL – AUSDRILL LTD – down one cent at $3.44
Mining services firm Ausdrill says it has agreed to buy the Best Tractor Parts Group for $165 million.
BBG – BILLABONG INTERNATIONAL LTD – up one cent at $1.355
Troubled surfwear retailer Billabong will shut stores, cut product lines and expand its online presence as it works to recover from a $275.6 million loss.
BHP – BHP BILLITON LTD – down seven cents at $33.02
BHP Billiton has sold its Western Australian Yeelirrie uranium deposit to Canada’s Cameco Corporation for $US430 million ($A414.24 million).
CTX – CALTEX AUSTRALIA LTD – down 22 cents at $15.27
Caltex Australia has played down the strong turnaround for its refining business that it plans to partially close, after the company posted a big rise in profits.
DLS – DRILLSEARCH ENERGY LTD – up five cents at $1.45
Drillsearch Energy Ltd shares rose more than three per cent as the company reaffirmed its production guidance after delivering a full year net profit of $10 million.
HIL – HILLS HOLDINGS LTD – down 0.5 cents at $1.20
A former head of technology and product innovation at Telstra has been selected to lead the maker of the iconic Hills Hoist.
JET – JETSET TRAVELWORLD LTD – steady at 47 cents
Jetset Travelworld’s full year profit has fallen by 72 per cent because of costs related to a restructure that resulted in 110 job cuts.
KZL – KAGARA LTD – in trading halt, last traded at 12 cents
The administrators of troubled miner Kagara are trying to sell parts of the business and recapitalise the company.
PFL – PATTIES FOODS LTD – up 2.5 cents at $1.59
Patties Foods, the maker of the famous Four’N Twenty meat pie, has grown profits in 2011/12 even as shoppers cut back in tough trading conditions.
SDL – SUNDANCE RESOURCES LTD – up 2.5 cents at 36 cents
Investors are sceptical about whether a reduced takeover offer for Africa-focused iron ore hopeful Sundance Resources by China’s Hanlong Mining will get over the line.
TOL – TOLL HOLDINGS LTD – down four cents at $4.51
Transport and logistics group Toll Holdings says resolving problems in its business in Japan and its marine shipping operations in Asia are its current priority.
