Stocks to watch on the Australian stock exchange on Wednesday, July 25
ALS – ALESCO CORPORATION LTD – down two cents at $2.01
DLX – DULUXGROUP LTD – down three cents at $2.97
Building products supplier Alesco Corporation predicts the tough times in the housing market will continue for the near term as it fends off a takeover offer from DuluxGroup.
BBG – BILLABONG INTERNATIONAL LTD – up 21.5 cents, or 19.55%, at $1.315
Troubled surfwear retailer Billabong could join the list of Aussie companies falling into foreign hands after it received a second takeover bid from US private equity firm TPG.
BCI – BC IRON LTD – up 19 cents at $2.54
BC Iron shares gained eight per cent after the junior iron ore producer said it expects to export five million tonnes of ore in fiscal 2013 after meeting its full year production targets ahead of schedule.
COK – COCKATOO COAL LTD – up one cent at 18 cents
QRN – QR NATIONAL LTD – down four cents at $3.17
Cockatoo Coal has signed a new 10-year rail haulage contract with QR National as part of the expansion of its Baralaba Complex mine in Queensland.
KCN – KINGSGATE CONSOLIDATED LTD – down six cents at $4.68
Kingsgate Consolidated’s chief executive says he cannot offer an explanation as to why the price of gold has plunged but it may have something to do with derivatives.
LLC – LEND LEASE GROUP – down 15 cents at $7.92
Construction workers have walked off the job at Lend Lease building sites around the country as part of a pay dispute.
MBN – MIRABELA NICKEL LTD – up one cent at 25 cents
Beleaguered miner Mirabela Nickel has axed hundreds of jobs in Brazil as it continues cutting costs at its Santa Rita operations while the nickel price languishes at depressed levels.
NHF – NIB HOLDINGS LTD – down one cent at $1.575
Health insurer nib has tied up with US insurance giant UnitedHealthcare International, its first overseas strategic alliance with a global counterpart.
NVT – NAVITAS LTD – down 42 cents at $3.92
Backlogs caused by a new student visa enrolment system have forced education provider Navitas to revise down its forecast of new student enrolments.
OSH – OIL SEARCH LTD – up two cents at $6.60
Oil Search says it is close to deciding on partner or partners for its natural gas exploration assets in resource-rich Papua New Guinea.
TAH – TABCORP HOLDINGS LTD – up one cent at $3.15
Gambling firm Tabcorp Holdings has obtained a $14.3 million refund from the Australian Taxation Office on goods and services tax (GST) paid by Tabcorp’s wagering businesses in Victoria and NSW.
TWE – TREASURY WINE ESTATES LTD – up two cents at $4.48
A major wine company will cut 175 jobs in Adelaide following a decision to close its local bottling operations.
