Stocks to watch on the Australian stock exchange on Tuesday, Nov 11:
CWN – CROWN RESORTS – down four cents, or 0.3 per cent, at $14.11
Crown Resorts chairman James Packer has appointed banker Robert Rankin to oversee his multi-billion-dollar investment portfolio.
CWP – CEDAR WOODS – up 32 cents, or five per cent, at $6.70
House builder Cedar Woods says strong market conditions in Western Australia and Victoria will likely lead to profit growth.
LYC – LYNAS – up half a cent, or 9.1 per cent, at six cents
Lynas Corporation’s shares have bounced after the miner tried to reassure investors that the rare earths market is not going as badly as speculated.
MGX – MOUNT GIBSON IRON – up 2.5 cents, or 5.7 per cent, at 46.5 cents
Mount Gibson Iron has cut its sales guidance and warned that repair works at its Koolan Island mine might take three months and cost up to $10 million.
TWE – TREASURY WINE ESTATES – down four cents, or 0.8 per cent, at $4.82
Treasury Wine Estates is shutting its Ryecroft winery in South Australia’s McLaren Vale, putting 33 jobs on the line.
VOC – VOCUS – down four cents, or 0.7 per cent, at $5.70
AMM – AMCOM – down two cents, or 0.8 per cent, at $2.37
Telcos Vocus and Amcom are taking a closer look at each other’s financial accounts as they consider a possible $1 billion tie-up.
YAL – YANCOAL – down six cents, or 27.3 per cent, at 16 cents
The Chinese owners of Australian coal miner Yancoal have committed to propping up the company as it announced a $US2.3 billion capital raising to pay off its growing debts.
