Stocks to watch on the Australian stock exchange on Tuesday, November 13
BCS – BRISCONNECTIONS – in a trading halt, last traded at 40 cents.
BrisConnections, the operator of Brisbane’s airport link toll road, has asked that its securities be suspended from the Australian Securities Exchange (ASX), saying its debt may outweigh the value of the company.
BSL – BLUESCOPE STEEL LTD – down 2.5 cents at 45.5 cents
BlueScope Steel has scrapped a previously announced offer of $US300 million ($A289.9 million) in notes to institutional investors.
IPL INCITEC PIVOT – down 16 cents at $2.91
Fertiliser maker Incitec Pivot says the shutdown of a Mt Isa sulphuric acid plant for up to a month could cost it $25 million.
JHX – JAMES HARDIE INDUSTRIES PLC – down 19 cents at $9.20
Former James Hardie non-executive directors who misled investors about its asbestos compensation fund have been fined $25,000 and disqualified from serving on boards for two years.
NAB – NATIONAL AUSTRALIA BANK LTD – down 17 cents at $23.64
National Australia Bank chief executive Cameron Clyne stands to be awarded almost $4 million worth of bonuses.
ORG – ORIGIN ENERGY – down 14 cents at $10.28
Moves from some state governments to set lower electricity prices will backfire over the long run leaving households worse off, Origin Energy managing director chairman Grant King says.
ORI – ORICA – down 99 cents at $24.01
Chemicals company Orica believes a new strategy of commercialising new products faster will lift profit despite a subdued outlook for the global mining industry.
OSH – OIL SEARCH – down 25 cents at $7.11
The cost of a liquified natural gas (LNG) project in Papua New Guinea part-owned by Santos and Oil Search has increased by $US3.3 billion ($A3.18 billion) to $US19 billion ($A18.34 billion).
QBE – QBE INSURANCE – down $1.07 at $11.80
Shares in global insurer QBE have fallen sharply after the company downgraded its earnings expectations in the wake of superstorm Sandy in the United States.
RIO – RIO TINTO LTD – down five cents at $58.64
Mineworkers being made redundant by the closure of Rio Tinto’s Blair Athol mine in Central Queensland will strike for 36 hours, saying the company discriminates against union members.
