Stocks to watch on the Australian stock exchange on Friday:
BLY – BOART LONGYEAR LTD – up 30 cents at $3.27
Boart Longyear’s shares rose sharply after it confirmed its profit guidance and said it was surprised at how well it had absorbed the current economic turmoil.
CNU – CHORUS LTD – down seven cents at $2.43
Chorus, New Zealand’s largest telecommunications network operator, has been assigned an investment grade credit rating by Moody’s Investors Service, reflecting its high margins and growing market position.
FGL – FOSTER’S GROUP LTD – up one cent at $5.39
Foster’s shareholders have overwhelmingly approved the $10.48 billion takeover by Anglo-South African brewer SABMiller.
IIN – up 12 cents at $2.81
Internet service provider iiNet has told the High Court it is not liable for people who use its network to download copyright material illegally.
ORG – ORIGIN ENERGY LTD – up 29 cents at $14.45
Origin Energy has allocated $800 million of subordinated notes, the proceeds of which will be used to fund the company’s share of the Australia Pacific LNG project, and other general purposes.
OSH – OIL SEARCH LTD – up 10 cents at $6.38
STO – SANTOS LTD – up 17 cents at $13.25
Santos and Oil Search will have to increase their spending on the Papua New Guinea liquified natural gas (LNG) project.
NCR – NUCOAL RESOURCES NL – in trading halt, last traded at 26.5 cents
The NSW government has asked mining company NuCoal Resources to suspend exploration at a Hunter Valley site while the corruption watchdog investigates its licence approval.
NUF – NUFARM LTD – up four cents at $4.79
Australian agricultural chemicals supplier Nufarm has expanded its involvement in seeds by buying an American sunflower seed company for $US55.2 million ($A53.83 million).
SPT – SPOTLESS GROUP LTD – up 11 cents at $2.40
Industrial services company Spotless Group has received an increased takeover bid from private equity group Pacific Equity Partners (PEP).
TTS – TATTS GROUP LTD – up three cents at $2.33
Tatts Group has agreed to buy the Tasmanian TAB (Tote Tasmania) for $103 million as the company seeks to expand into the state.
