Stocks to watch on the Australian stock exchange early on Friday:
LEIGHTON HOLDINGS LTD – down 25 cents at $25.30
An anti-corruption unit of the Iraqi Oil Ministry reportedly is investigating whether a Leighton Holdings subsidiary paid bribes for information relating to an oil project in Iraq.
NHC – NEW HOPE CORPORATION – down 28 cents at $5.43
New Hope Coal has wrapped up its sale process after receiving no attractive offers.
NWS – NEWS CORPORATION LTD – down seven cents at $18.79
NWSLV – NEWS CORPORATION LTD NON-VOTING SHARES – up three cents
James Murdoch, the younger son of media tycoon Rupert Murdoch, has resigned from his role as executive chairman of News International, News Corporation’s scandal-plagued British newspaper unit.
RIO – RIO TINTO LTD – down $1.20 at $66.25
The West Australian government has approved a rail and power supply project in the Pilbara to connect the new Hope Downs 4 iron ore mine, a Rio Tinto and Hancock Prospecting joint venture, to the existing Hope Downs 1 mine infrastructure.
WOW – WOOLWORTHS LTD – down one cent at $25.30
Woolworths says its net profit has fallen more than 16 per cent, due to the restructure of its Dick Smith chain, and it expects trading conditions to remain subdued for the rest of the year.
