Stocks to watch on the Australian stock exchange early on Tuesday:
DOW – DOWNER EDI LTD – up 25 cents at $3.79
AMP – up five cents at $4.27
The major private partner in the troubled Reliance Rail project has welcomed a restructure of the group’s financing.
DOW – DOWNER EDI LTD – up 25 cents at $3.79
GBG – GINDALBIE METALS LTD – up 4.5 cents at 68.5 cents
Engineering firm Downer EDI has won a $570 million contract to provide services at the Karara iron ore project in Western Australia.
EXT – EXTRACT RESOURCES LTD – up three cents at $8.60
The Australian developer of one of the world’s biggest uranium assets, Extract Resources, says it is still seeking alternative options after China inched closer to making a take-over offer.
EGP – ECHO ENTERTAINMENT GROUP LTD – up four cents at $3.67
Sydney’s The Star casino must provide a formal explanation by Monday afternoon about what led to the sacking of its CEO.
PPT – PERPETUAL LTD – up 77 cents at $21.01
Investment firm Perpetual chief executive stood Chris Ryan down over the weekend because of differences with the board over strategy.
QAN – QANTAS AIRWAYS LTD – up one cent at $1.62
Qantas boss Alan Joyce has warned a parliamentary hearing that proposed legislative changes are a major threat to the airline’s future.
