Stocks to watch on the Australian stock exchange on Tuesday, April 28:
AGO – ATLAS IRON – in trading halt, last traded at 12 cents
MCS – MCALEESE – in trading halt, last traded at 16 cents
Haulage contractor McAleese has extended the voluntary suspension of its shares as it continues talks with its troubled client, Atlas Iron.
BEN – BENDIGO BANK – up two cents, or 0.17 per cent, at $12.12
Bendigo Bank will issue around $200 million in new convertible preference shares.
BHP – BHP BILLITON – up 52.0 cents, or 1.62 per cent, at $32.57
BHP Billiton has been hit with a $522 million bill that the Tax Office says it owes for tax avoidance through its Singapore marketing operations.
HIL – HILLS – down 14.0 cents, or 17.72 per cent, at 65 cents
Technology group Hills has warned that its full year profit could be up to 40 per cent lower than expected due to weakness across a number of sectors.
IIN – IINET – up $1.14, or 13.16 per cent, at $9.80
MTU – M2 GROUP – down 62.0 cents, or 5.38 per cent, at $10.90
TPM – TPG TELECOM – down 59.0 cents, or 6.15 per cent, at $9.01
Internet provider M2 Group has made a $2.25 billion takeover offer for rival iiNet, setting up a possible bidding war with TPG Telecom.
PNA – PANAUST – up 1.00 cent, or 0.57 per cent, at $1.75
A $1.1 billion takeover bid for copper and gold miner PanAust from a Chinese-state owned company has been dismissed as too low by an independent expert.
SRF – SURFSTITCH – up 1.00 cent, or 0.61 per cent, at $1.65
Online sportswear retailer SurfStitch has lifted its earnings guidance for the year after wrapping up early a restructure of its European business.
TEN – TEN NETWORK HOLDINGS – up 0.5 cents, or 2.44 per cent, at 21 cents
Ten Network Holdings has played down speculation that it is close to sealing a deal that would see pay TV player Foxtel take a 14.9 per cent stake in the troubled broadcaster.