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Stocks to watch Wednesday

Stocks to watch on the Australian stock exchange on Wednesday, May 2

ALS – ALESCO CORPORATION LTD – up 60 cents, or 42.86 per cenb, at $2.00

DLX – DULUX GROUP LTD – down 13 cents at $2.97

DuluxGroup says a move to enlarge its market footprint makes sense as it launches a $188.4 million takeover proposal for garage door, construction products and cabinet and window products supplier, Alesco Corporation.

ANZ – ANZ BANKING GROUP LTD – up eight cents at $23.99

CBA – COMMONWEALTH BANK OF AUSTRALIA – up 88 cents at $52.85

NAB- NATIONAL AUSTRALIA BANK LTD – down two cents at $25.21

WBC – WESTPAC BANKING CORPORATION – up 10 cents at $22.83

BOQ – BANK OF QUEENSLAND LTD – down 20 cents at $7.26

Australia’s big four banks are unlikely to pass the full 50 basis point cut in the official interest rate through to mortgage holders, analysts say.

DOW – DOWNER EDI LTD – up three cents at $3.64

Downer EDI plans to merge its New Zealand and Australian and infrastructure businesses into one company called Downer Infrastructure.

FUN – FUNTASTIC LTD – up one cent at 20 cents

Toy distributor Funtastic expects to return to profitability in fiscal 2012 due to improved margins and cost cutting.

MGR – MIRVAC GROUP – up 1.5 cents at $1.31

Property developer and manager Mirvac Group is sticking with its full year financial guidance as market conditions remain in line with its expectations.

QAN – QANTAS AIRWAYS LTD – up two cents at $1.655

About 400 jobs are expected to be lost at Qantas’ Tullamarine heavy maintenance base in Victoria, a union says.

SGP – STOCKLAND GROUP – up two cents at $3.12

Stockland Group says the value of some of its residential developments and UK assets has fallen, but it is on track to achieve its recent earnings guidance for 2012.

WPL – WOODSIDE PETROLEUM LTD – up $1.28 at $36.20

Woodside Petroleum has struck a $US2 billion ($A1.92 billion) deal to sell part of its stake in the Browse gas project to Japan’s Mitsubishi Corporation and Mitsui & Co..

WTF – WOTIF.COM HOLDINGS LTD – down 25 cents at $4.17

Online travel company Wotif.com Holdings expects its full year profit to grow by up to 15 per cent to as much as $57.5 million.