Stocks to watch on the Australian stock exchange on Tuesday November 27
BEN – BENDIGO AND ADELAIDE BANK LTD – up eight cents at $7.90
Bendigo and Adelaide Bank is buying the majority of assets of regional financial company Southern Finance Group for $290 million.
CGF – CHALLENGER LTD – up three cents at $3.22
Financial services firm Challenger has confirmed its financial targets for the current financial year at its annual general meeting.
ERA – ENERGY RESOURCES OF AUSTRALIA LTD – up five cents at $1.25
Uranium miner Energy Resources of Australia (ERA) expects to post a full-year loss of between $135 million and $155 million in fiscal 2012, as it continues to cut costs amid difficult market conditions.
MLB – MELBOURNE IT LTD – down 19 cents at $1.55
Melbourne IT shares are down more than 10 per cent after the company warned of lower earnings in calendar 2012, delays on its transformation plans and flagged the sale of some assets.
PPT – PERPETUAL LTD – up 37 cents at $30.36
BKW – BRICKWORKS LTD – down four cents at $11.21
SOL – WASHINGTON H SOUL PATTINSON & CO LTD – down four cents at $12.91
Fund manager Perpetual Investments is to co-operate with MH Carnegie & Co by investing in the venture capital company to help unlock as much as $1 billion of value from unwinding the cross shareholding between Brickworks and Washington H Soul Pattinson.
SYD – SYDNEY AIRPORT – up five cents at $3.45
Sydney Airport has secured about $1.1 billion in new funds to repay existing debts and fund future spending.
