Stocks to watch on the Australian stock exchange on Wednesday, June 6
ANZ- ANZ BANKING GROUP LTD – up 45 cents at $21.32
CBA – COMMONWEALTH BANK OF AUSTRALIA – up 95 cents at $50.00
NAB – NATIONAL AUSTRALIA BANK LTD -up 52 cents at $22.55
WBC – WESTPAC BANKING CORPORATION – up 39 cents at $20.59
Australians will have to wait a bit longer to find out if their mortgage repayments will drop as the major banks decide whether they will pass on the Reserve Bank of Australia’s (RBA) 25 basis point cut to the cash rate.
AQA – AQUILA RESOURCES LTD – up seven cents at $2.86
Aquila Resources is a step closer to realising its $6 billion West Pilbara Iron Ore project after studies showed it was economically and technically feasible.
CWK – COALWORKS LTD – steady at $1.02
Takeover target Coalworks has hit back at shareholder Macquarie Bank ahead of a vote to spill the miner’s board next week, saying shareholders will be worse off with a new boardroom regime
DTE – DART ENERGY LTD – up 0.5 cents at 18.5 cents
Coal seam gas miner Dart Energy has received approval to drill wells north of Newcastle which, it says, will help produce rosy red tomatoes.
EGP – ECHO ENTERTAINMENT GROUP LTD – down one cent at $4.30
CWN – CROWN LTD – up 21 cents at $8.27
NSW Premier Barry O’Farrell says billionaire James Packer’s fight for control of Echo Entertainment, owner of Sydney’s The Star casino, is “starting to look like a political campaign”.
HST – HASTIE GROUP LTD – in administration, last traded at 16 cents
About 400 jobs have been saved with the sale of two of the troubled engineering company Hastie Group’s businesses, the administrators say.
QAN – QANTAS AIRWAYS LTD – down 26.5 cents or 18.66 per cent at $1.155
Qantas Airways shares have slumped to an all-time low after the airline said it was expected to post a net loss for the full 2011/12 year.
QRN – QR NATIONAL LTD – up 16 cents at $3.47
QR National’s plan to cut 500 jobs will kill regional Queensland and may not be the rail freight company’s last round of redundancies, unions warn.
TLS – TELSTRA CORPORATION – down one cent at $3.65
Telstra, Australia’s biggest phone company, says it is in talks with Vodafone over the possible sale of its TelstraClear unit in New Zealand.
VAH – VIRGIN AUSTRALIA HOLDINGS LTD – up one cent at 42 cents
Etihad Airways has bought a 3.96 per cent stake in Virgin Australia.
