Stocks to watch on the Australian stock exchange early on Friday:
CQO – CHARTER HALL OFFICE REAL ESTATE INVESTMENT TRUST – down one cent at $3.07
Unitholders of an Australian office tower owner have approved a takeover by foreign interests.
FMG – FORTESCUE METALS GROUP LTD – up 15 cents at $5.98
Fortescue Metals Group has doubled its recent funding effort to $US2 billion ($A1.90 billion) to pay for expansion plans.
IFE – IRONCLAD MINING LTD – up two cents at 84 cents
IronClad Mining has begun grade control drilling at its flagship Wilcherry Hill iron ore project in South Australia in preparation for the start of production.
LEI – LEIGHTON HOLDINGS LTD – up 38 cents at $24.00
MAH – MACMAHONS HOLDINGS LTD – down 0.5 cents at 85.5 cents
Leighton Holdings subsidiary John Holland and engineering firm MacMahon Holdings have won a $340 million contract for onshore work on Darwin’s Ichthys gas project.
MYR – MYER HOLDINGS LTD – down eight cents at $2.29
Department store retailer Myer says its first half net profit has fallen 17.5 per cent and predicts weak to flat sales in fiscal 2012.
OST – ONESTEEL LTD – up 2.5 cents at $1.19
Almost 60 jobs will be lost when steelmaker OneSteel closes a manufacturing plant at Kembla Grange, south of Sydney, as part of its efforts to cut costs.