Stocks to watch on the Australian stock exchange on Tuesday, March 10:
AGL – AGL ENERGY – down 33 cents, or 2.19 per cent, at $14.73
AGL Energy is selling back to the NSW government one of its gas exploration licences.
AGL says the licence, that stretched nearly 400 square kilometres from Wyong to Morisset on the NSW Central Coast, was not commercially viable.
AWC – ALUMINA – down 6.5 cents, or 3.67 per cent, at $1.705
A major review by global aluminium giant Alcoa of its smelting and refining operations has raised fears it could make huge job cuts in Australia.
CBA – COMMONWEALTH BANK OF AUSTRALIA – down 57.0 cents, or 0.63 per cent, at $90.52
The Commonwealth Bank has appointed Wendy Stops, a former executive with international consulting group Accenture, to its board of directors.
NAB – NATIONAL AUSTRALIA BANK – down 34 cents, or 0.9 per cent, at $37.63
National Australia Bank has widened its paid parental leave policy, offering new dads 12 weeks of paid parental leave.
RIO – RIO TINTO – down $1.19, or 1.97 per cent, at $59.20
New Zealand’s Tiwai Point aluminium smelter is back to running a profitable operation, but uncertainties about its outlook have left question marks over its intrinsic value, says majority owner Rio Tinto.
STO – SANTOS – down 29.0 cents, or 3.7 per cent, at $7.55
Santos has struck a deal to supply natural gas to Alcoa of Australia, the country’s biggest alumina producer.