Stocks to watch on the Australian stock exchange at noon on Wednesday:
API – AUSTRALIAN PHARMACEUTICAL INDUSTRIES – up 2.25 cents, or 4.21 per cent, at 55.75 cents
Pharmacies supplier and health and beauty retailer Australian Pharmaceutical Industries has booked a loss of $115 million for the first six months of its fiscal year, after major asset writedowns.
AZJ – AURIZON – up 0.5 cents, or 0.10 per cent, at $5.175
Rail operator Aurizon expects to achieve its full year haulage guidance after lifting coal volumes 11 per cent during the March quarter.
BXB – BRAMBLES – down 19 cents, or 2.00 per cent, at $9.36
Brambles is on track to achieve its full year profit guidance after lifting sales six per cent during the first three quarters.
ELD – ELDERS – steady at 11 cents
Elders supremo Mark Allison is making the switch from chairman to chief executive of the struggling agribusiness.
ERA – ERA – down 2.25 cents, or 1.67 per cent, at $1.3275
RIO – RIO TINTO – up 28 cents, or 0.46 per cent, at $61.58
Uranium miner ERA has struck a deal with its parent company Rio Tinto to improve how it sells uranium.
HVN – HARVEY NORMAN – down 1.5 cents, or 0.46 per cent, at $3.245
Harvey Norman has lifted its sales four per cent for the nine months to the end of March, thanks to a stronger euro and New Zealand dollar boosting the performance of its international stores.
LYC – LYNAS CORPORATION – in a trading halt, last traded at 16.5 cents
Rare earths miner Lynas Corporation’s shares have been placed in a trading halt pending an announcement by the company on a financial transaction.
OGC – OCEANAGOLD – up 25 cents, or 10.16 per cent, at $2.71
OceanaGold, which operates the Macraes goldfield in Otago, boosted first-quarter profit by 730 per cent as its Didipio operation in the Philippines came on steam with new gold and copper production.
SGP – STOCKLAND – down 1.5 cents, or 0.39 per cent, at $3.875
ALZ – AUSTRALAND – down 0.5 cents, or 0.12 per cent, at $4.275
Property developer Stockland is renewing calls on rival Australand to open its books so it can pursue its $2.4 billion takeover offer.
SGT – SINGAPORE TELECOMMUNICATIONS – up 3.5 cents, or 1.09 per cent, at $3.265
Optus will cut 350 jobs from its workforce in the next four weeks in an effort to improve sustained profitability and increase efficiencies.
TAH – TABCORP – steady at $3.64
Gaming outfit Tabcorp has lifted its third quarter revenue, buoyed by strong growth from its wagering and international businesses.
WOW – WOOLWORTHS – down 86 cents, or 2.26 per cent, at $37.18
Woolworths has sold almost $15.2 billion worth of goods across its divisions during the March quarter, up 5.3 per cent from a year ago.
