Stocks to watch on the Australian stock exchange at close on Wednesday:
API – AUSTRALIAN PHARMACEUTICAL INDUSTRIES – up 4.
5 cents, or 8.41 per cent, at 58 cents
Pharmacies supplier and health and beauty retailer Australian Pharmaceutical Industries has booked a loss of $115 million for the first six months of its fiscal year, after major asset writedowns.
AZJ – AURIZON – up one cent, or 0.19 per cent, at $5.18
Rail operator Aurizon expects to achieve its full year haulage guidance after lifting coal volumes 11 per cent during the March quarter.
BXB – BRAMBLES – down 12 cents, or 1.26 per cent, at $9.43
Brambles is on track to achieve its full year profit guidance after lifting sales six per cent during the first three quarters.
ELD – ELDERS – steady at 11 cents
Elders supremo Mark Allison is making the switch from chairman to chief executive of the struggling agribusiness.
ERA – ERA – down 2.5 cents, or 1.85 per cent, at $1.325
RIO – RIO TINTO – up 40 cents, or 0.65 per cent, at $61.70
Uranium miner ERA has struck a deal with its parent company Rio Tinto to improve how it sells uranium.
HVN – HARVEY NORMAN – down two cents, or 0.61 per cent, at $3.28
Harvey Norman has lifted its sales four per cent for the nine months to the end of March, thanks to a stronger euro and New Zealand dollar boosting the performance of its international stores.
LYC – LYNAS CORPORATION – in a trading halt, last traded at 16.5 cents
Rare earths miner Lynas Corporation’s shares have been placed in a trading halt pending an announcement by the company on a financial transaction.
OGC – OCEANAGOLD – up 24 cents, or 9.76 per cent, at $2.70
OceanaGold, which operates the Macraes goldfield in Otago, boosted first-quarter profit by 730 per cent as its Didipio operation in the Philippines came on stream with new gold and copper production.
SGP – STOCKLAND – steady at $3.89
ALZ – AUSTRALAND – steady at $4.28
Property developer Stockland is renewing calls on rival Australand to open its books so it can pursue its $2.4 billion takeover offer.
SGT – SINGAPORE TELECOMMUNICATIONS – up four cents, or 1.24 per cent, at $3.27
Optus will cut 350 jobs from its workforce in the next four weeks in an effort to improve sustained profitability and increase efficiencies.
TAH – TABCORP – up eight cents or 2.2 per cent at $3.64
Gaming outfit Tabcorp has lifted its third quarter revenue, buoyed by strong growth from its wagering and international businesses.
WOW – WOOLWORTHS – down 72 cents, or 1.89 per cent, at $37.32
Woolworths has sold almost $15.2 billion worth of goods across its divisions during the March quarter, up 5.3 per cent from a year ago.