Stocks to watch on the Australian stock exchange today:
ALK – ALKANE RESOURCES LTD – down 1.5 cents at 77.5 cents
Alkane Resources says it’s on track to bring one of the world’s largest undeveloped zirconium resources into production by 2015.
BLD – BORAL LTD – down 14 cents at $2.99
Moody’s Investors Service has downgraded Boral’s investment rating to Baa3 after the building products maker cut earnings guidance for the second time in less than three months.
CTX – CALTEX AUSTRALIA LTD – up 13 cents at $13.28
Caltex Australia, which is pondering closing its refining operations, expects its first half profit to rise by as much as 81 per cent per cent due to higher refinery production.
FXJ – FAIRFAX MEDIA LTD – down 1.5 cents at 54 cents
Fairfax Media shares have posted fresh lows as market players mulled over Gina Rinehart’s next move after her request for a board seat was denied
LEI – LEIGHTON HOLDINGS LTD – down 24 cents at $15.96
Brisbane’s Airport Link toll road is set to open one month late, which will cost its builders almost $1 million a day.
MTS – METCASH LTD – in trading halt, last traded at $3.74
Beleaguered grocery wholesaler Metcash is diversifying into the car spare parts business to help bolster its bottom line and will undertake a $375 million capital raising to help pay for the new business.
NWS – NEWS CORPORATION LTD – up 87 cents, or 4.05 per cent, at $22.37
NWSLV – NEWS CORPORATION LTD NON VOTING SHARES – up 70 cents, or 3.3 per cent, at $22.13
News Corp shares have continued to rally, as the market anticipates an official announcement of a split between its more-profitable entertainment division and publishing businesses.
STO – SANTOS LTD – last traded at $10.45
Santos shares have fallen heavily after the cost of its part-owned Gladstone liquefied natural gas (GLNG) project rose by 15 per cent.
WEB – WEBJET LTD – down three cents at $3.49
Online travel company Webjet says it will set up a new hotel venture in Dubai.
WOW – WOOLWORTHS LTD – up nine cents at $26.84
The competition watchdog has opposed the proposed acquisition of five takeaway liquor outlets in NSW by Australian Leisure and Hospitality Group (ALH) on the grounds that the acquisition would lessen competition.