Stocks to watch on the Australian stock exchange on Wednesday, March 18:
APN – APN NEWS & MEDIA MEDIA – up one cent, or 1.1 per cent, at 94 cents
Allan Gray Australia says it has cut its stake in APN New & Media because the share price has risen.
BHP – BHP BILLITON – up 37 cents, or 1.3 per cent, at $29.77
BHP will spend close to $A1 billion to spin off its underperforming assets into a new entity.
CWN – CROWN RESORTS – up three cents, or 0.2 per cent, at $13.50
James Packer’s Crown Resorts is seeking to raise around $400 million, partly to help fund development projects in Sydney, Perth and elsewhere.
DLX – DULUXGROUP – up 14 cents, or 2.3 per cent, at $6.36
Paintmaker DuluxGroup will cut dozens of jobs in Brisbane and Sydney in the next couple of years as it relocates some paint operations and replaces two distribution centres.
MYR – MYER – down 2.5 cents, or 1.6 per cent, at $1.565
Retail giant Myer could close seven stores to help reignite sales growth, analysts say.
NEC – NINE ENTERTAINMENT – up one cent, or 0.5 per cent, at $2.07
The site of Australia’s first television broadcast is being sold by the Nine Network to housing developers.
SRX – SIRTEX MEDICAL – down $21.47, or 55 per cent, at $17.53
Shares in biotech Sirtex Medical have more than halved after a treatment under development for colorectal cancer produced mixed results.
