Stocks to watch on the Australian stock exchange early on Wednesday:
BHP – BHP BILLITON – up 11 cents at $34.68
BHP Billiton has appointed Ian Maxwell as President Energy Coal following Jimmy Wilson’s move to become President Iron Ore.
CBA – COMMONWEALTH BANK OF AUSTRALIA – up two cents at $52.08
The Commonwealth Bank of Australia (CBA) is cutting interest rates on its one- and three-year fixed home loans by up to 0.34 percentage point. (RATES CBA on file)
CRF – CENTRO RETAIL AUSTRALIA – in trading halt, last traded at $1.8475
Centro Retail Australia has gone into a trading halt pending an announcement on settlement discussions over its $200 million class action.
ILU – ILUKA RESOURCES LTD – down $1.94, or 12.16 per cent, at $14.01
Mineral sands miner Iluka says it will cut its annual production of zircon in 2012 because the global economic outlook remains unclear.
LEI – LEIGHTON HOLDINGS LTD – down 23 cents at $19.02
Leighton Holdings insists that its portfolio of projects is performing well despite its two big ticket developments costing the construction giant $254 million in pre-tax earnings.
OSH – OIL SEARCH LTD – up two cents at $7.14
Oil Search says 2012 will be a potentially transformational year for the company, presenting an unprecedented opportunity to grow the value of its assets.
OST – ONESTEEL LTD – down 4.5 cents at $1.18
OneSteel shareholders have voted in favour of changing the company’s name to Arrium.
TLS – TELSTRA CORPORATION – up six cents at $3.62
Telstra has committed to buying at least $US5.1 ($A5.02) million of satellite equipment and product bundles over the next 12 months from World Reach Ltd subsidiary Beam Communications Pty Ltd.
