Stocks to watch on the Australian stock exchange on Thursday, November 17
AGO – ATLAS IRON LTD – down seven cents, or 2.2 per cent, at $3.10
GDA – GONDWANA RESOURCES LTD – up 0.1 of a cent, or 25 per cent, at half a cent
Atlas Iron has bought Gondwana Resources’ 90 per cent stake in the Corunna Downs project in Western Australia for $2.1 million in cash.
ANZ – ANZ BANKING GROUP – down 23 cents, or 1.1 per cent, at $20.47
ANZ Banking Group is the first of the Australian banks to complete a covered bond issue, raising $US1.25 billion ($A1.23 billion) from United States debt markets.
BCI – BC IRON LTD – down five cents at $2.35
BC Iron expects ongoing volatility in the iron ore price, but says the market will remain healthy.
BHP – BHP BILLITON LTD – down 23 cents at $36.65
BHP Billiton has approved a $US698 million ($A687.72 million) investment to develop its Orebody 24 iron ore mine near Newman in Western Australia.
Separately: BHP holds its AGM on Thursday.
BSL – BLUESCOPE STEEL LTD – last traded at 71 cents
Bluescope Steel holds its AGM on Thursday.
CAB – CABCHARGE AUSTRALIA LTD – up one cent at $4.58
Cabcharge Australia says its results for the first quarter of the financial year were beyond its expectations.
GCL – GLOUCESTER COAL LTD – down 17 cents at $7.02
Gloucester Coal has upgraded the resources available for mining at the Monash Coal projects in the NSW Hunter Valley.
The total c
IIN – IINET LTD – in trading halt, last traded at $2.36
Shares in internet service provider iiNet are in a trading halt amid speculation it is the preferred bidder for Australian Capital Territory telco TransACT.
JHX – JAMES HARDIE INDUSTRIES SE – last traded at $6.08
James Hardie Industries is due to post its first half results on Thursday.
MCC – MACARTHUR COAL LTD – up two cents at $16.26
American coal miner Peabody Energy has begun the compulsory acquisition process for Macarthur Coal after amassing a stake in the takeover target of more than 90 per cent.
MSF – MSF SUGAR LTD – up five cents, or 1.1 per cent, at $4.46
Thailand-based sugar giant Mitr Phol Sugar Corporation has formally lodged a $313 million take-over offer for Queensland’s MSF Sugar.
QAN – QANTAS AIRWAYS LTD – up 5.5 cents, or 3.3 per cent, at $1.705
Qantas Airways chief executive Alan Joyce says negotiations with unions are continuing and he is optimistic a deal will be reached before the 21-day deadline expires.
QRN – QR NATIONAL LTD – down three cents at $3.49
GBG – GINDALBIE METALS LTD – down one cent at 57 cents
Rail operator QR National says all conditions on a 10-year, $900 million rail haulage agreement with Gindalbie Metals have been finalised.
RIO – RIO TINTO LTD – last traded at $67.65
Global miner Rio Tinto plans to shut an aluminium smelter in northeast England because of rising energy costs, resulting in the loss of 515 jobs.
SPL – STARPHARMA HOLDINGS LTD – steady at $1.075
A $32 million cash injection has given a boost to biotech Starpharma’s plans to carry out advanced tests of a treatment for a common bacterial infection in women.
SWM – SEVEN WEST MEDIA LTD – last traded at $3.24
Seven West Media holds its AGM on Thursday.
