Stocks to watch on the Australian stock exchange early on Monday:
AGK – AGL ENERGY LTD – up 24 cents at $14.83
AGL Energy has bought the right to develop the Silverton wind farm in the far west of NSW.
BHP – BHP BILLITON – down 40 cents at $34.40
South Australian Premier Jay Weatherill has urged the development of the state’s mining services sector to ensure the riches flowing from the emerging mining boom are shared across the community.
FMG – FORTESCUE METALS GROUP LTD – down eight cents at $6.00
LEI – LEIGHTON HOLDINGS LTD – up nine cents at $23.12
Western Australia’s work safety watchdog has lost an appeal against the dismissal of charges that Fortescue Metals Group failed to provide a safe workplace at a Pilbara rail camp during Cyclone George in 2007.
Separately: Leighton Holdings says it’s been in negotiations with Fortescue Metals Group for a $3.6 billion WA mining contract.
PMV – PREMIER INVESTMENTS LTD – up 25 cents at $5.35
Premier Investments is pinning its hopes on funky pyjamas and cute stationery to steer it through the tough times gripping the retail sector.
PPX – PAPERLINX LTD – down 2.4 cents at 9.6 cents
A move by disgruntled PaperlinX shareholder Andrew Price to remove the company’s chairman Harry Boon has failed.
QAN – QANTAS AIRWAYS LTD – down 3.5 cents at $1.73
Qantas says forcing airlines to submit a safety case to the regulator and the government prior to grounding its fleet would be impractical and could put passengers at risk.
Separately: Pilots say they are disappointed a proposal to force airlines to offer overseas-based cabin crew the same pay and conditions as local staff has been rejected by a Senate inquiry.
QRN – QR NATIONAL LTD – down 12 cents at $3.77
Rail operator QR National has cuts its forecasts for full year earnings due to ongoing industrial action, weaker demand for coal transport and wet weather.
WOR – WORLEYPARSONS LTD – up 31 cents at $29.86
Engineering giant WorleyParsons has won a contract to build a copper and molybdenum processing plant in Mongolia.
