Stocks of interest on the Australian Securities Exchange on Friday:

FMG – FORTESCUE METALS GROUP – up 10 cents, or 5.39 per cent, at $1.955

Fortescue Metals has achieved a significant reduction in costs, giving it hope of staving off losses due to the fall in iron ore prices.

ILU – ILUKA RESOURCES – down 66 cents, or 7.9 per cent, to $7.70

Iluka Resources has blamed falling demand for its mineral sands products for a drop in sales revenue in the March quarter.

MQA – MACQUARIE ATLAS – steady at $3.59

Toll roads operator Macquarie Atlas hold its annual general meeting on Friday.

NEC – NINE ENTERTAINMENT – up eight cents, or 3.7 per cent, at $2.23

Nine Entertainment will boost shareholder returns and consider acquisitions after the $640 million sale of its ticketing and events arm to an Asian private equity giant.

PFL – PATTIES FOODS – up one cent, or 0.8 per cent, at $1.24

The maker of Nanna’s frozen berries says its own tests have detected no trace of hepatitis A in its recalled products, and the Victorian Department of Health found a trace amount in one packet during a random test of eight.

STO – SANTOS – up 21 cents, or 2.7 per cent, at $7.93

Gas producer Santos releases it first quarter production report.

WPL – WOODSIDE PETROLEUM – up seven cents, or 0.2 per cent, at $35.48

Energy giant Woodside Petroleum has warned a long downturn in oil prices will reduce its profit and shareholder payouts.