News from AAP

Stocks to watch Wednesday

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Stocks to watch on the Australian stock exchange early on Wednesday:

AKI – AFRICAN IRON LTD – up 0.5 cents at 56.5 cents

CFE – CAPE LAMBERT RESOURCES LTD – down one cent at 57 cents

South African miner Exxaro Resources is 27 per cent shy of reaching the minimum acceptance level in its $338 million take-over bid for Perth-based iron ore explorer African Iron, with one week left to go.

BKN – BRADKEN LTD – down 22 cents at $7.83

Mining and rail equipment manufacturer Bradken says its first-half profit is up 65 per cent and its full-year expectations remain unchanged.

CLO – CLOUGH LTD – up 1.5 cents at 81.5 cents

Engineering and construction company Clough has won a $140 million contract for work on Inpex’s $US34 billion ($A31.82 billion) Ichthys liquefied natural gas (LNG) project.

COH – COCHLEAR LTD – up $4.41 at $62.52

Cochlear has suffered a $20 million dollar loss in the first half of its financial year after a mass recall of one its most popular bionic ear devices.

EGP – ECHO ENTERTAINMENT GROUP LTD – down one cent at $3.66

NSW Hospitality Minister George Souris has declined to express confidence in Sydney’s The Star after the casino’s operator was ordered to explain the CEO’s sacking.

LEI – LEIGHTON HOLDINGS LTD – up 41 cents at $24.66

Leighton Holdings subsidiary Thiess has won a $1 billion mining contract to extend the life of OZ Minerals’ Prominent Hill copper and gold mine.

MQG – MACQUARIE GROUP LTD – down 20 cents at $25.90

Macquarie Group says full-year net profit is expected to fall by as much as 25 per cent amid difficult trading conditions.

NAB – NATIONAL AUSTRALIA BANK LTD – down 96 cents at $23.21

National Australia Bank lifted cash earnings in the first quarter to $1.4 billion but the bank says higher funding costs are impacting its business.

TAR – TARUGA GOLD LTD – steady at 20 cents

West Africa-focused gold explorer Taruga Gold has made a flat debut on the Australian Securities Exchange.

TCL – TRANSURBAN GROUP – down three cents at $5.49

Toll road operator Transurban expects a strong performance in the second half of the financial year as it continues major construction projects in Australia and United States and finalises contracts on other developments.