Stocks to watch on the Australian stock exchange on Tuesday, August 7
ARG – ARGO INVESTMENTS LTD – up six cents at $5.44
Investment firm Argo Investments says global equity markets are unlikely to show any meaningful recovery in the short term but, in the long term,the Australian market represented relatively good value.
BHP – BHP BILLITON LTD – up 70 cents at $32.00
South Australian Premier Jay Weatherill says he still can’t see any justification for granting BHP Billiton an extension to the agreement to expand the Olympic Dam copper and uranium mine.
CMG – CHANDLER MACLEOD GROUP LTD – up one cent at 41 cents
Job recruiters Chandler Macleod Group is to consolidate its workforce and recruitment divisions into the one unit.
FMG – FORTESCUE METALS GROUP LTD – up eight cents at $4.26
Fortescue Metals has secured $US1.5 billion ($A1.44 billion) in new funding for the expansion of its flagship iron ore operations in Western Australia’s Pilbara region.
GPT – GPT GROUP – up three cents at $3.45
Property owner GPT Group has bought two business park assets in western Sydney for a total of $53.6 million.
GNS – GUNNS LTD – suspended from trading; last traded at 16 cents
Woodchipper Gunns Ltd says it has less confidence in its ability to influence the development of a controversial $2.5 billion pulp mill in Tasmania.
HDF – HASTINGS DIVERSIFIED UTILITIES FUNDS – down one cent at $2.54
APA – APA GROUP – down two cents at $4.84
Pipeline operator APA Group has been granted permission to look over the books of takeover target Hastings Diversified Utilities Fund (HDF).
HVN – HARVEY NORMAN HOLDINGS LTD – up 0.5 cents at $1.975
Harvey Norman boss Gerry Harvey has blamed slashing prices on televisions and computers for an expected 40 per cent drop in full year profit
IGR – INTEGRA MINING LTD – up 8.5 cents at 40 cents
SLR – SILVER LAKE RESOURCES LTD – down 24 cents at $2.60
Integra Mining has agreed to a $426 million takeover by fellow gold miner Silver Lake Resources in a move that will create one of the nation’s larger producers of the precious metal.
PPX – PAPERLINX LTD – up 0.7 cents at 6.9 cents
Paper merchant PaperlinX has bought a small New Zealand packaging company as it works to reverse its poor financial performance.
QAN – QANTAS AIRWAYS LTD – up 1.5 cents at $1.11
A Qantas pilot who tested positive to alcohol after being removed from a flight has been stood down from duties, the air safety regulator says.
WPL – WOODSIDE PETROLEUM LTD – up 12 cents at $34.05
Traditional owners will meet former Greens leader Bob Brown in a bid to sway opposition to Woodside Petroleum’s proposed $30 billion Kimberley gas hub.
