Stocks to watch on the Australian stock exchange on Tuesday, May 22
CPB – CAMPBELL BROTHERS LTD – down 60 cents at $56.70
Laboratory group Campbell Brothers’ expects the booming mining sector and recent acquisitions to fuel profit growth after another record earnings result.
DLX – DULUXGROUP LTD – down nine cents at $2.89
ALS – ALSESCO CORPORATION LTD – down 3.5 cents at $1.975
Paint maker DuluxGroup’s $188 million takeover offer for garage door maker Alesco will close at the end of June.
ELD – ELDERS LTD – down 0.5 cents at 20 cents
Elders says the outlook for agriculture is positive, after a large tax win helped the agribusiness and automotive interiors supplier return to profitability.
JHX – JAMES HARDIE INDUSTRIES SE – down 10 cents at $6.95
Building products maker James Hardie fears Australia’s soft housing market will be a drag on the company’s earnings this year.
ORI – ORICA LTD – up five cents $25.24
Orica is shrugging off doubts about iron ore demand by pressing ahead with the construction of a $US800 million ($A815.87 million) ammonium nitrate plant in Western Australia.
PMP – PMP LTD – up three cents at 40 cents
Shares in printer and publisher PMP have added more than 10 per cent in value after the company confirmed ticketing and labelling group TMA is behind a recent takeover bid.
QAN – QANTAS AIRWAYS LTD – steady at $1.43
Qantas Airways has flagged more job losses may be on cards after confirming it would cut 500 maintenance positions.
TOE – TORO ENERGY LTD – up 0.7 cents at 7.4 cents
BHP – BHP BILLITON LTD – up 64 cents at $32.10
Western Australia’s first uranium mine is a step closer to being built but opponents say the proposal is by no means a done deal.
