Stocks to watch on the Australian stock exchange on Tuesday, Aug 12:
BCI – BC IRON – down 32 cents, or 9.7 per cent, at $2.99
IOH – IRON ORE HOLDINGS – up 37.5 cents, or 39.5 per cent, at $1.325
Pilbara iron ore miner BC Iron is taking control of another miner owned by Kerry Stokes in a deal worth $250 million.
BEN – BENDIGO AND ADELAIDE BANK – up 28 cents, or 2.3 per cent, at $12.46
Bendigo and Adelaide Bank has delivered a better than expected profit in the face of growing competition and customers getting ahead on loan repayments.
GEM – G8 EDUCATION – up 13 cents, or 2.7 per cent, at $4.91
Childcare company G8 Education continues to buy up more centres, a strategy that has helped deliver a 48 per cent jump in half year profit.
JBH – JB HI-FI – down $1.53, or 7.9 per cent, at $17.84
JB Hi-Fi is pinning its hopes on families wanting to sit around big-screen TVs playing computer games to make up for declines in tablet sales.
TWE – TREASURY WINE ESTATES – up 20 cents, or 3.9 per cent, at $5.33
A takeover battle is under way for Treasury Wine Estates, with another private equity firm lodging a bid to buy the Penfolds owner.
WPL – WOODSIDE PETROLEUM – up nine cents, or 0.2 per cent, at $41.69
Woodside Petroleum has bought a 40 per cent stake in a joint venture deep water exploration project off west Africa.
