Stocks to watch on the Australian stock exchange on Wednesday, July 11

AWC – ALUMINA LTD – down five cents at 70.5 cents

Australian company Alumina’s joint venture partner Alcoa has kicked off the US earnings reporting season, with a sharp drop in profits.

HDF – HASTINGS DIVERSIFIED UTILITIES FUND – steady at $2.38

APA – APA GROUP LTD – up two cents at $4.96

The takeover battle for energy infrastructure investor Hastings Diversified Utilities Fund (HDF) is intensifying, with Pipeline Partners Australia making a binding $1.23 billion takeover offer.

IAG – INSURANCE AUSTRALIA GROUP LTD – down one cent at $3.52

Insurance Australia Group is working to make its $720 million investments in Asia profitable as it eyes a long-term presence in the rapidly growing region.

ORG – ORIGIN ENERGY LTD – down 16 cents at $12.23

Green groups have attacked Origin Energy after the country’s largest electricity retailer suggested the federal government’s renewable energy target (RET) was going to drive up power bills unnecessarily.

WES – WESFARMERS LTD – down 33 cents at $29.95

TOL – TOLL HOLDINGS LTD – steady at $3.94

About 300 workers have begun a strike at a Coles warehouse in Melbourne.