Stocks to watch on the Australian stock exchange Friday October 28
AGK – AGL ENERGY LTD – up 14 cents at $14.57
Energy distributor AGL Energy has told shareholders it expects its underlying profit to grow by as much as 16 per cent this financial year.
AMP – AMP LTD – up 11 cents at $4.32
AMP reported net cash outflows were $335 million at AMP Financial Services for the quarter to September after the wealth manager lost a major client.
API – AUSTRALIAN PHARMACEUTICAL INDUSTRIES LTD – down one cent at 31 cents
Australian Pharmaceutical Industries has reported a $23.3 million loss as the company weathered “a highly adverse combination of events” including floods, a tough retail environment and Pharmaceutical Benefits Scheme reforms.
ASX – ASX LTD – up 41 cents at $30.56
A four-hour interruption of trade on the Australian Stock Exchange on Thursday had little impact, brokers said, despite the market being unable to react to major company results and good news on the European debt crisis
AUN – AUSTAR UNITED COMMUNICATIONS LTD – steady at $1.18
Regional pay-TV provider Austar says it will be a challenge to win new subscribers given weak sentiment, and its focus is on controlling costs.
BHP – BHP BILLITON LTD – up $1.41 at $38.35
A proposed coal terminal and rail line in central Queensland, which will expand export capacities, have been declared projects of state significance.
CWN – CROWN LTD – up 17 cents at $8.17
James Packer, the chairman of casinos owner Crown, has blasted the federal government’s proposed gambling reforms, saying they will result in the loss of jobs and investment in the gaming sector and hurt state government revenues.
CTX – CALTEX AUSTRALIA LTD – up 17 cents at $13.95
Oil refiner Caltex says up to 30 positions will be lost when it closes two plants at its Kurnell refinery in Sydney’s south.
GPT – GPT GROUP – up two cents at $3.22
GPT Group says it is on track to increase full year operating earnings by seven per cent on what the property investor says is the high quality of its portfolio.
IPL – INCITEC PIVOT LTD – up 22 cents at $3.57
Explosives and fertiliser supplier Incitec Pivot is looking into building an ammonium nitrate manufacturing plant on the site of its fertiliser facility in Newcastle in NSW.
LEI – LEIGHTON HOLDINGS LTD – up 79 cents at $22.35
Leighton Holdings has confirmed previous full year guidance for net profit of $600 million to $650 million, after the company conducted a forecasting review.
LLC – LEND LEASE GROUP – up 31 cents at $7.79
Adelaide Oval’s redevelopment is set to start now that the South Australian government has finalised its $350 million contract with Baulderstone.
NAB – NATIONAL AUSTRALIA BANK LTD – up 92 cents at $25.87
National Australia Bank (NAB) posted a record annual cash profit of $5.5 billion and warned its funding costs will climb higher until 2014.
NCM – NEWCREST MINING LTD – up 55 cents at $34.95
Gold miner Newcrest Mining says volatility in global markets and financial concerns in Europe and the United States will likely support a strong gold price in the short and medium term.
QAN – QANTAS AIRWAYS LTD – up 5.5 cents at $1.57
Qantas holds its annual general meeting in Sydney in which executive remuneration is expected to come under fire from shareholders
Meanwhile, the Transport Workers Union (TWU) has confirmed that one-hour stoppages will be held at airports across Australia on Friday.
Baggage handlers and ground staff in major airports including Sydney, Melbourne, Cairns, Brisbane, Adelaide, Darwin, Perth and Canberra will walk off the job for an hour at various times during the day.
Qantas chief executive Alan Joyce has apologised to the 10,000 passengers who will be delayed on Friday as hundreds of the airline’s workers strike over pay.
The Victorian and NSW premiers have joined forces in calling on Prime Minister Julia Gillard to intervene in the Qantas industrial dispute.
Assistant Treasurer Bill Shorten has accused the NSW and Victoria premiers of political grandstanding in their appeal for the federal government to intervene in the Qantas battle.
SUN – SUNCORP GROUP LTD – up 33 cents at $8.64
Suncorp chief executive Patrick Snowball says the insurance industry performed well in its response to Queensland’s floods.
TEN – TEN NETWORK HOLDINGS – up 7.5 cents at 92.5 cents
Ten Network will introduce a three-hour breakfast news program so it can generate more in-show advertising, as part of its turnaround strategy. (TEN Wrap on file with factbox.
TTS – TATTS GROUP LTD – up one cent at $2.26
Gambling firm Tatts Group says it has had a good start to the financial year, with higher sales in lotteries.
WOW – WOOLWORTHS LTD – down seven cents at $24.08
Woolworths increased first quarter sales by 4.9 per cent as Australia’s biggest supermarket chain increased market share and customer numbers.
