Stocks to watch on the Australian stock exchangeon Friday:
BSL – BLUESCOPE STEEL LTD – down 12.7 cents, or 24.5 per cent, to 39 cents
Struggling steelmaker BlueScope Steel has raised $338 million so far in a $600 million capital raising as it tries to repay some of its debt.
CQO – CHARTER HALL OFFICE REIT – steady at $3.35
Charter Hall Office real estate investment trust (REIT) has completed the sale of a third United States asset as it continues its move towards becoming an Australian-focused property owner.
DJS – DAVID JONES LTD – down 16 cents, or 5.4 per cent, at $2.81
David Jones has confirmed its forecast of a 15 to 20 per cent drop in first-half profit after its first-quarter sales fell by 11.2 per cent.
DOW – DOWNER EDI – down 10 cents, or 3.24 per cent, at $2.99
Engineering firm Downer EDI has appointed Philip Garling as a non-executive director, effective November 24, 2011.
GFF – GOODMAN FIELDER LTD – down two cents, or 3.96 per cent, at 48.5 cents
Goodman Fielder says steps taken so far in 2011/12 have arrested the earnings decline experienced in the prior year.
GNC – GRAINCORP LTD – up 23 cents, or 3.13 per cent, at $7.58
Graincorp says its annual profit has more than doubled adding that the quality of grain harvested so far this season is higher than last year.
GNS – GUNNS LTD – up one cent, or 5.88 per cent, at 18 cents
Gunns is more confident it will be able to build a $2.3 billion pulp mill at Bell Bay in Tasmania, although it still does not have a partner for the controversial project.
MMX – MURCHISON METALS LTD – up 14.5 cents, or 52.73 per cent, at 42 cents
Murchison Metals has backed a $325 million takeover bid of its key assets by joint venture partner Mitsubishi, which will gain full ownership of the planned $6 billion Oakajee port and rail project.
MYR – MYER HOLDINGS LTD – last traded at $2.34
Myer Holdings is due to hold its AGM on Friday.
PRY – PRIMARY HEALTH CARE LTD – last traded at $3.28
Primary Health Care is due to hold its AGM on Friday
QAN – QANTAS AIRWAYS LTD – down two cents, or 1.32 per cent, at $1.495
The Transport Workers Union says it is backing the pilots’ union’s bid for a recent decision by Fair Work Australia (FWA) to be overturned in its stoush with Qantas.
RFG – RETAIL FOOD GROUP LTD – last traded at $2.51
Retail Food Group is due to hold its AGM on Friday
SDL – SUNDANCE RESOURCES LTD – last traded at 42.5 cents
Sundance Resources is due to hold its AGM on Friday
WBC – WESTPAC BANKING CORPORATION – down eight cents, or 0.4 per cent, at $19.75
Westpac Banking Corporation has created two new divisions for its businesses and made several senior executive changes as it adopts a new management structure.
WOR WORLEYPARSONS LTD – down 90 cents, or 3.46 per cent, at $25.09
Engineering giant WorleyParsons has won a $US200 million ($A205.54 million) project management consultancy contract for a refinery in Ecuador.
WOW – WOOLWORTHS LTD – up 21 cents, or 0.86 per cent, at $24.56
Woolworths expects retail trading conditions to remain subdued until next financial year as it gears up for expansion under a new leadership team.
