Stocks to watch on the Australian stock exchange on Tuesday:
BRU – BURU ENERGY – down two cents, or 1.7 per cent, at $1.14
The West Australian Department of Mines and Petroleum has given the green light to Buru Energy’s plans to frack for gas in the Kimberley region.
EGP – ECHO ENTERTAINMENT – up eight cents, or 2.6 per cent, at $3.16
Gaming group Echo Entertainment has teamed up with another bidder from Hong Kong in its battle against rival Crown for Brisbane’s second casino licence.
FMG – FORTESCUE METALS GROUP – up 17 cents, or four per cent, at $4.39
Fortescue Metals’ plans for a new Pilbara iron ore project have moved a step closer with conditional environmental approval.
MTS – METCASH – up eight cents, or 2.9 per cent, at $2.85
Grocery wholesaler Metcash has blamed tough market conditions for an 18 per cent slump in full year profit.
TEN – TEN NETWORK – up 0.5 cents, or two per cent, at 25 cents
Private equity interest in the Ten Network has boosted the struggling broadcaster’s share price, but analysts aren’t convinced the company is set for a takeover.
TFC – TFS CORPORATION – down 1.5 cents, or 0.9 per cent, at $1.695
Australian Sandalwood producer TFS Corporation predicts it will generate exports of $1 billion over the next decade as its oil fetches $5000 per kilogram.
