Stocks to watch on the Australian stock exchange on Friday, Jan 30:
BCI – BC IRON – down 1.5 cents, or 3.1 per cent, at 46.5 cents
Pilbara iron ore producer BC Iron is making deeper cost cuts as it weathers a falling iron ore price.
CBA – COMMONWEALTH BANK – up 57 cents, or 0.6 per cent, at $89.33
Commonwealth Bank shares touched a record of $90 as expectations build for a Reserve Bank rate cut next week.
MRN – MACQUARIE RADIO – down eight cents, or seven per cent, at $1.07
Macquarie Radio expects a 65 per cent fall in half year profit, partly due to the cost of a new multi-million dollar contract for broadcaster Alan Jones.
NCM – NEWCREST MINING – down 14 cents, or one per cent, at $13.56
Gold miner Newcrest has lifted its full year production guidance after a stronger than expected December quarter.
ORG – ORIGIN ENERGY – up eight cents, or 0.75 per cent, at $10.68
Origin Energy’s production fell four per cent and revenue dropped six per cent in the December quarter because of maintenance being carried out.
WHC – WHITEHAVEN COAL – down six cents, or 4.6 per cent, at $1.24
Whitehaven Coal is looking to cut production costs further in an effort to get back to profitability in the face of falling coal prices.
