Stocks to watch on the Australian stock exchange early on Friday:
AAI – ALCOA INCORPORATED – steady at 10.50
Victorian Treasurer Kim Wells has pledged to support Alcoa to help keep the jobs of 600 people at its Geelong smelter safe.
Separately: The federal government will leave no stone unturned to secure the future of Alcoa’s aluminium smelter near Geelong, the local member says.
AVI – AVALON MINERALS LTD – steady at 7.5 cents
Shares in Avalon Minerals have been placed in a trading halt pending an announcement from the Sweden-focused junior mineral explorer on a capital raising and management changes.
BOQ – BANK OF QUEENSLAND LTD – up six cents at $7.39
Bank of Queensland (BOQ) says it will keep its standard variable home loan interest rates steady, in line with this week’s decision by the Reserve Bank of Australia (RBA) .
CLO – CLOUGH LTD – up 1.5 cents at 82.5 cents
Clough has won its second contract for Chevron’s Wheatstone liquefied natural gas project in the past week, this time valued at $400 million.
FXJ – FAIRFAX MEDIA LTD – up one cent at 78.5 cents
Online campaigner GetUp is running a newspaper campaign highlighting concerns that mining magnate Gina Rinehart might influence mining-related media coverage after her recent acquisition of a large part of Fairfax.
LEI – LEIGHTON HOLDINGS LTD – down 24 cents at $24.47
Leighton Holdings subsidiary Thiess has won a $180 million contract for work at BHP Billiton Mitsubishi Alliance’s (BMA) Caval Ridge coal mine in Queensland.
NWS – NEWS CORPORATION LTD – up 17 cents at $18.91
NWSLV – NEWS CORPORATION LTD NON-VOTING SHARES – up 17 cents at $18.33
Rupert Murdoch’s News Corporation has unveiled a strong rise in second quarter earnings, largely driven by its cable TV and film businesses.
QAN – QANTAS AIRWAYS LTD – down 0.5 cents at $1.625
Qantas will inspect its entire fleet of Airbus A380 superjumbo jets for cracks on parts inside the wings.
RIO – RIO TINTO LTD – down 16 cents at $71.60
Rio Tinto will spend $US3.4 billion ($A3.16 billion) expanding its iron ore operations in Western Australia’s Pilbara region.
Separately, Rio Tinto is due to post full-year results on Thursday, after the markets closes.
SGM – SIMS METAL MANAGEMENT LTD – down $1.06 at $14.20
Scrap metal recycler Sims Metal Management has written down the value of its North American business by $614 million.
SGP – STOCKLAND – down six cents at $3.21
Property group Stockland’s first-half net profit has fallen by 28 per cent due to tough economic conditions, but the company expects a better performance in the remainder of the financial year.
SDG – SUNLAND GROUP LTD – down five cents at 70 cents
Property group Sunland has warned that its profits will likely take a hit this financial year, citing a drop in sales amid a tough market.
TAH – TABCORP HOLDINGS LTD – up five cents at $2.91
Wagering and gaming firm Tabcorp Holdings has lifted its first half underlying profit by 14.1 per cent and expects a similar performance for the remainder of the year.
TLS – TELSTRA CORPORATION – down seven cents at $3.37
Telstra Corporation shares have fallen at the start of trade after the nation’s largest telco reported a lower than expected first-half net profit.
WGR – WESTGOLD RESOURCES LTD – steady at 20 cents
Gold explorer Westgold Resources has moved to secure up to $80 million in debt funding to help pay for development of its Central Murchison project in Western Australia.
