Stocks to watch on the Australian stock exchange on Monday, Aug 11:
CBA – COMMONWEALTH BANK OF AUSTRALIA – down $1.22, or 1.5 per cent, at $80.13
Commonwealth Bank is refreshing its senior executive team after its head of business and private banking announced his retirement.
CWN – CROWN RESORTS – down 43 cents, or 2.8 per cent, at $14.75
Shares in James Packer’s Crown Resorts have fallen after its Macau joint venture posted a drop in earnings.
NWS – NEWS CORPORATION – down 47 cents, or 2.6 per cent, at $17.90
NWS – NEWS CORP NON-VOTING STOCK – down 55 cents, or 2.9 per cent, at $18.36
News Corp’s Australian titles have suffered an 18 per cent slide in revenue, but chief executive Robert Thomson believes conditions in the advertising market will improve.
REA – REA GROUP – down $4.05, or 8.7 per cent, at $42.78
REA Group has lifted its full year profit 37 per cent following strong revenue growth from its real estate websites.
RIO – RIO TINTO – up 11 cents, or 0.2 per cent, at $66.43
Shareholders have been warned to temper any excitement about a major dividend hike from Rio Tinto despite the miner’s bumper rise in profit.