Stocks to watch on Tuesday

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Stocks to watch on the Australian stock exchange on Tuesday, May 1

AXE – ARCHER EXPLORATION LTD – up five cents at 40 cents

BHP – BHP BILLITON LTD – up 66 cents at $35.55

The world’s biggest miner BHP Billiton has paid Archer Exploration $8 million to buy out its five tenements near its massive Olympic Dam mine.

BHP – BHP BILLITON LTD – up 66 cents at $35.55

RIO – RIO TINTO LTD – up 92 cents at $66.35

Fortescue boss Andrew Forrest has accused Treasurer Wayne Swan of lying about the amount of revenue the federal government will get from its mining tax.

BTT – BT INVESTMENT MANAGEMENT LTD – down 11 cents at $2.05

Weaker equity markets and the cost of a recent acquisition have caused a 24 per cent drop in BT Investment Management’s first half profit.

COH – COCHLEAR LTD – up $1.30 at $65.65

Hearing-implant maker Cochlear says that a complaint against it for patent infringement has been filed in a United States Court.

FNP – FREEDOM FOOD LTD – up eight cents at 67.5 cents

Freedom Foods’ business unit Pactum Australia will build a UHT processing plant in southeast Australia to meet increased domestic and export demand.

KZL – KAGARA LTD – in trading halt, last traded at 12 cents

The majority of troubled miner Kagara’s 325 workers are likely to lose their jobs this week after it went into voluntary administration.

NAB – NATIONAL AUSTRALIA BANK LTD – up eight cents at $25.23

National Australia Bank (NAB) will spend STG456 million ($A713.11 million) and cut 1,400 British jobs to prevent its struggling UK business from causing more damage to its bottom line.

ORI – ORICA LTD – up eight cents at $26.87

A shipload of potentially explosive chemicals sitting off Newcastle was given the all-clear by a federal agency, the NSW government says.

RHC – RAMSAY HEALTH CARE LTD – up one cent at $20.03

Private hospital operator Ramsay Health Care has reaffirmed its guidance for growth of its core earnings of between 13 and 15 per cent.

SPT – SPOTLESS GROUP LTD – up 10 cents at $2.56

Spotless says the arduous process of dealing with a hostile takeover bid was a major factor behind the company accepting a $720 million offer from private equity firm Pacific Equity Partners.

UGL – UGL LTD – up four cents at $13.08

UGL and CH2M Hill have won a $550 million contract to build the combined cycle power plant for the Ichthys liquefied natural gas (LNG) project in the Northern Territory.