Stocks to watch on the Australian stock exchange early on Wednesday:
AAC – AUSTRALIAN AGRICULTURAL COMPANY LTD – up 0.5 cents at $1.39
Beef producer Australian Agricultural Company Ltd (AACo) has lifted its annual profit and says it is well placed to benefit from the tight supply of beef and positive prices.
AWE – AWE LTD – down four cents at $1.50
Oil and gas producer AWE Ltd is on track to meet its full-year production and revenue targets, while it has lowered its risk exposure to the troubled BassGas project.
BPT – BEACH ENERGY LTD – up two cents at $1.48
Beach Energy has posted weaker production, sales and revenue numbers in the December quarter but says it can still meet production guidance.
BHP – BHP BILLITON LTD – down 19 cents at $37.48
Mining giant BHP Billiton is well aware of the economic forecast in pursuing the multi-billion-dollar Olympic dam project, South Australian Liberals say.
BRG – BREVILLE GROUP LTD – up 17 cents at $2.95
Electrical appliance seller Breville Group expects its earnings to grow due to a strong performance from its North American business.
LNC – LINC ENERGY LTD – down 0.5 cents at $1.385
Linc Energy has secured $120 million in new funding to pursue its coal, oil and gas projects.
LYC – LYNAS CORPORATION – up 1.5 cents at $1.325
Lynas Corporation says construction of its rare earths processing plant in Malaysia is 91 per cent complete.
NVT – NAVITAS LTD – down 35 cents at $2.88
Education provider Navitas has lifted first-half profit by nine per cent but expects second-half earnings to be weaker.
ORG – ORIGIN ENERGY LTD – down 39 cents at $13.76
Energy producer and retailer Origin Energy lifted its first-half revenue by five per cent despite lower production and sales volumes.
SGH – SLATER & GORDON – down eight cents at $1.72
Law firm Slater & Gordon is set to enter the United Kingdom market, having agreed to acquire UK law firm Russell Jones & Walker (RJW) for SG53.8 million (about $80 million).
WES – WESFARMERS LTD – up 13 cents at $30.30
WOW – WOOLWORTHS LTD – up 34 cents at $24.79
A fresh food price war could put some farmers out of business, the Australian Greens say.
Separately: Australian fruit and vegetable growers fear they will become the latest victims in the supermarket price wars after Coles slashed its fresh produce prices.
WOW – WOOLWORTHS LTD – up 34 cents at $24.79
Woolworths says its first half sales rose five per cent to $29.7 billion despite the supermarket giant facing subdued consumer confidence and falling prices.
Separately: Woolworths is putting its Dick Smith electronics chain up for sale, three decades after buying the business.