Stocks to watch on the Australian stock exchange on Wednesday, Aug 6:
COH – COCHLEAR – up $6.46, or 10.3 per cent, at $69.00
Shares in hearing implants maker Cochlear have climbed almost seven per cent after it announced strong sales growth on the back of new product releases.
DOW – DOWNER EDI – down 20 cents, or 4.2 per cent, at $4.58
Engineering group Downer EDI has predicted a weaker net profit for 2015 in an ominous sign at the start of the earnings season.
FMG – FORTESCUE METALS – down four cents, or 0.8 per cent, at $4.70
Iron ore miner Fortescue Metals Group plans to pay down more than $2 billion in debt over the next two years as it looks to save $400 million by converting its operations to gas.
SIR – SIRIUS – down seven cents, or 1.8 per cent, at $3.83
Nickel miner Sirius Resources is close to securing $1.5 billion for its Nova nickel project after striking a native title deal with traditional owners.
TCL – TRANSURBAN – down seven cents, or 0.9 per cent, at $7.58
Strong growth in traffic on toll roads, especially the recently upgraded M2 in Sydney, has boosted operator Transurban’s annual profit by 45 per cent.
TRG – TREASURY GROUP – up 76 cents, or 7.9 per cent, at $10.43
Australian fund manager Treasury Group is merging with US-based investment business Northern Lights Capital Partners.
