Stocks to watch on the Australian stock exchange on Tuesday November 1
ASX – ASX LTD – up 24 cents at $30.70
The Australian Securities Exchange’s 21-year monopoly on share trading is over after cheaper rival Chi-X quietly opened for business.
BHP – BHP BILLITON LTD – down 89 cents at $37.80
FMG – FORTESCUE METALS GROUP LTD – down 15 cents at $4.85
RIO – RIO TINTO LTD – down $1.01 at $69.21
The Qantas grounding has caused minimal damage to Western Australia’s resources sector, with many fly-in, fly-out workers relying on other airlines to get to remote regions.
BTT – BT INVESTMENT MANAGEMENT LTD – down three cents at $2.01
A “wall of cash” is expected to pour back into investment markets once investor confidence improves, a leading fund manager says.
HVN – HARVEY NORMAN HOLDINGS LTD – up one cent at $2.17
Retailer Harvey Norman’s sales dropped in the September quarter, hit by a high Australian dollar and “intense competition”.
LEI – LEIGHTON HOLDINGS LTD – down 56 cents at $21.84
Construction giant Leighton Holdings says a credit rating downgrade by Moody’s will not impact on its existing credit facilities.
LYC – LYNAS CORPORATION LTD – down 9.5 cents at $1.205
Rare earths supplier Lynas Corporation says slight delays mean a planned Malaysian plant will now come on line during the first half of 2012.
ORG – ORIGIN ENERGY LTD – down 11 cents at $14.39
Energy producer and retailer Origin Energy first quarter gas sales volumes fell by five per cent but gas revenues were higher due to stronger commodity prices.
PDN – PALADIN ENERGY LTD – down 6.5 cents at $1.50
Shares in Africa-focused miner Paladin were punished after it reported a fall in uranium production amid weak market prices, despite record sales for the September quarter.
QAN – QANTAS AIRWAYS LTD – up 6.75 cents at $1.6125
FLT – FLIGHT CENTRE LTD – down nine cents at $19.88
VBA – VIRGIN BLUE HOLDINGS LTD – up 1.5 cents at 37.5 cents
WEB – WEBJET LTD – steady at $2.41
Qantas will recover market share and press ahead with plans to set up an international business in Asia despite incurring more that $100 million in lost earnings, the airline’s boss says..
STO – SANTOS LTD – down 24 cents at $12.96
The only way to meet a tripling in natural gas demand in eastern Australia is by allowing unconventional gas projects, such as coal seam gas (CSG), oil and gas producer Santos says.
