Stocks to watch on the Australian stock exchange early on Tuesday:
BPT – BEACH ENERGY LTD – down 9.5 cents at $1.67
Oil and gas producer Beach Energy has returned to first half profitability despite a small fall in production.
CKF – COLLINS FOODS LTD – down five cents at $1.18
Collins Foods has reaffirmed its cautious guidance as trading conditions remaining difficult, despite briefly-improved business over the summer holiday.
CTX – CALTEX AUSTRALIA LTD – down eight cents at $12.90
Caltex Australia has incurred a $852 million loss for calendar 2011 as it continues to review the future of its two Australian refineries.
GNS – GUNNS LTD – up one cent at 18.5 cents
Timber company Gunns has posted a larger first half loss and says trading conditions will remain tough as long as the Australian dollar maintains its strength.
HOM – HOMELOANS LTD – up two cents at 59 cents
National non-bank lender Homeloans Ltd will continue eyeing acquisition opportunities and cutting costs to protect earnings after reporting a 13 per cent drop in first half profit.
MVT – MERCANTILE INVESTMENTS COMPANY LTD – steady at 7.3 cents
ARA – ARIADNE AUSTRALIA LTD – steady at 36 cents
GPG – GUINNESS PEAT GROUP PLC – steady at 37.5 cents
Corporate raider Sir Ron Brierley has reconvened two of his old gang via an $A2 million ($NZ2.6 million) placement for his latest enterprise, ASX-listed Mercantile Investment Co.
ROC – ROC OIL COMPANY LTD – up one cent at 40 cents
Oil and gas producer ROC Oil Company has booked its first annual profit since 2005, partly as a result of the higher oil price.
SFW – SFG AUSTRALIA LTD – up 0.5 cents at 33.5 cents
SFG Australia Ltd has reported an 84 per cent jump in first half profit, largely driven by the wealth manager’s merger with Shadforth Financial Group Holdings Ltd.
SKI – SPARK INFRASTRUCTURE GROUP – steady at $1.395
Electricity infrastructure fund Spark Infrastructure has posted a two per cent rise in profit and expects to pay out more to security holders in the next three years.
WBC – WESTPAC BANKING CORPORATION – last traded at $20.71
The Bank of Melbourne (BoM) has opened its 50th branch in Victoria as part of a five-year expansion plan.
