Stocks to watch on the Australian stock exchange on Wednesday, September 26
BWD – BLACKWOOD CORPORATION LTD – down 0.5 cents, or five per cent, at 10.5 cents
WHC – WHITEHAVEN COAL – down one cent, or 0.34 per cent, at $2.91
Blackwood Corporation is seeking to appoint liquidators to a company owned by high profile businessman Nathan Tinkler after it failed to pay the coal developer for a share deal.
CWN – CROWN LTD – steady at $8.99
The West Australian government has ruled out tapping James Packer for funds towards a new $900 million stadium neighbouring his Crown Perth casino.
FMG – FORTESCUE METALS GROUP LTD – down eight cents, or 2.22 per cent, at $3.52
LEI – LEIGHTON HOLDINGS LTD – down five cents, or 0.3 per cent, at $16.53
Fortescue Metals will pay Leighton $US1.5 billion ($A1.44 billion) to oversee mining at its Firetail iron ore deposit in the Pilbara.
LEI – LEIGHTON HOLDINGS LTD – down five cents, or 0.3 per cent, at $16.53
Leighton Holdings is looking to sell its phone and internet infrastructure assets.
NCM – NEWCREST MINING LTD – down 37 cents, or 1.31 per cent, at $27.77
Gold miner Newcrest is tapping investors for $US1 billion ($A962.97 million) to help reduce its debt.
PPT – PERPETUAL LTD – up nine cents, or 0.34 per cent, at $26.88
Geoff Lloyd has taken a $600,000 pay cut despite being promoted to chief executive at funds manager Perpetual.
RIO – RIO TINTO LTD – up $1.00, or 1.82 per cent, at $53.97
Japan’s Mitsui has approved a $1.5 billion investment to expand iron ore export capacity at its joint venture with Rio Tinto at Cape Lambert.
SUN – SUNCORP GROUP LTD – down five cents, or 0.54 per cent, at $9.24
Suncorp Group will raise about $350 million by issuing new preference shares.