Stocks to watch on the Australian stock exchange on Thursday, March 21

ANZ – ANZ BANKING GROUP LTD – down 11 cents at $22.42

CBA – COMMONWEALTH BANK OF AUSTRALIA – down 27 cents at $48.63

NAB – NATIONAL AUSTRALIA BANK LTD – down 10 cents at $24.10

WBC – WESTPAC BANKING CORPORATION – down 15 cents at $21.05

Relief for Australia’s big banks could be just around the corner thanks to a recent drop in wholesale funding costs which will help boost earnings.

DJS – DAVID JONES LTD – down 30 cents at $2.43

Tarnished upmarket retailer David Jones will increase staff, chase online sales and build new stores in a bid to reverse its fortunes after posting a horror slump in half-year profits.

FMG – FORTESCUE METALS GROUP LTD – up 14 cents at $6.06

Campbell Newman has refused to say if a Liberal National Party (LNP) government will back a possible High Court challenge to the federal government’s mining tax.

HTA – HUTCHISON TELECOMMUNICATIONS AUSTRALIA LTD – up 0.7 cents at 4.9 cents

The former head of Vodafone in Japan and the United Kingdom has been appointed chief executive of Vodafone Hutchison Australia (VHA).

Separately: Vodafone has scotched rumours that it is looking to offload its Australian mobile phone joint venture.

KMD – KATHMANDU HOLDINGS LTD – down 24 cents at $1.25

Kathmandu shares have fallen sharply at the open after the outdoor equipment and clothing retailer reported a big fall in first half profit.

ORL – OROTONGROUP LTD – down 32 cents at $8.70

Fashion retailer Oroton Group continues to defy the retail sector’s gloom, crediting a rise in first half profit to its expansion in Asia.

PPT – PERPETUAL LTD – up seven cents at $24.70

Wealth manager Perpetual hosed down speculation that it has put its corporate trust arm up for sale.