Stocks to watch on the Australian stock exchange at close on Friday:
AIZ – AIR NEW ZEALAND LTD – up 1.5 cents at 95 cents
VBA – VIRGIN BLUE HOLDINGS LTD – up half a cent at 30.5 cents
Air NZ chief financial officer Rob McDonald says the airline’s trans-Tasman operations have rebounded strongly and will improve further as the alliance with Virgin Australia kicks in.
AUN – AUSTAR UNITED COMMUNICATIONS LTD – down 21 cents, or 16.2 per cent, $1.085
CMJ – CONSOLIDATED MEDIA HOLDINGS LTD – up three cents at $2.45
NWS – NEWS CORPORATION – down 28 cents at $15.20
NWSLV – NEWS CORPORATION NON-VOTING – down 10 cents at $14.80
TLS – TELSTRA CORPORATION LTD – steady at $3.06
The competition regulator has asked for comments about Foxtel’s proposed takeover of regional pay television provider Austar United Communications Ltd.
CBA – COMMONWEALTH BANK OF AUSTRALIA LTD – up 78 cents at $50.52
Commonwealth Bank of Australia has elevated one of its NZ-born banking executives, Ian Narev, as its new chief executive, to replace compatriot Ralph Norris.
CEU – CONNECTEAST GROUP – up nine cents, or 20 per cent, at 54 cents
Securities in ConnectEast Group surged more than 20 per cent after its independent directors recommended a takeover proposal from Horizon Roads, an investment vehicle managed by the target’s largest security holder.
MTN – MARATHON RESOURCES – in trading halt, last traded for 24.5 cents
The South Australian government will move to ban mining in the environmentally sensitive Arkaroola region of the state’s Flinders Ranges.
RIO – RIO TINTO LTD – up 16 cents at $82.50
Mining giant Rio Tinto is considering selling off one of its UK coal-fired power stations before the implementation of new environmental laws.
WES – WESFARMERS LTD – up 37 cents at $31.21
WOW – WOOLWORTHS TLD – up 21 cents at $27.84
Supermarket giant Coles, owned by Wesfarmers, has been cleared of predatory pricingby selling its house brand milk at a discounted rate.
