Stocks to watch on the Australian stock exchange early on Monday:
AIO – ASCIANO LTD – up one cent at $4.79
Asciano’s Patrick ports business has applied to Fair Work Australia to commence conciliation with the Maritime Union of Australia (MUA) over an industrial dispute.
ANZ – ANZ BANKING GROUP LTD – up 14 cents at $21.93
ANZ Banking Group has left its variable interest rates unchanged after its monthly review.
GNS – GUNNS LTD – in a trading halt at 16 cents.
Shares in woodchipper Gunns Ltd have been placed in a trading halt after the company announced that New Zealand-born billionaire Richard Chandler had decided against investing in Gunns.
IAG – INSURANCE AUSTRALIA GROUP LTD – up nine cents at $3.29
Insurer IAG will cut 600 jobs over the next three years as part of a restructure of its CGU business.
LEI – LEIGHTON HOLDINGS LTD – down 81 cents at $23.49
Engineering, construction and property group Leighton Holdings has appointed seasoned construction engineer Mike Rollo as its chief risk officer.
NCM – NEWCREST MINING LTD – up $1.29 at $31.93
Australia’s largest gold producer Newcrest Mining says new laws limiting foreign ownership of mines in Indonesia will not affect its Gosowong operations on Halmahera Island.
QAN – QANTAS AIRWAYS LTD – down 4.5 cents at $1.68
Investors have sold off Qantas shares after the company failed to strike a deal with Malaysian Airlines in its bid to set up a new premium airline.
WBC – WESTPAC BANKING CORPORATION – up 28 cents at $20.69
The head of Westpac’s New Zealand business has been appointed chief executive of St George bank.
