Stocks to watch on the Australian stock exchange on Friday:
BHP – BHP BILLITON LTD – down 97 cents at $42.03
Workers at the world’s biggest copper mine in northern Chile, majority owned by BHP Billiton, filed a legal complaint against their employer for “anti-union practices” as their strike over pay went into its sixth day.
CXY – COUGAR ENERGY LTD – steady at 1.6 cents
Cougar Energy will fight a government order that it cease a controversial underground coal gasification (UCG) project in southeast Queensland.
DJS – DAVID JONES LTD – down five cents at $3.00
David Jones will stock a range of new international and domestic brands as it tries to boost flagging sales at its stores across the country.
DOW – DOWNER EDI LTD – up three cents at $3.90
Downer EDI has presented the second Waratah train to NSW RailCorp.
GUD – GUD HOLDINGS LTD – down two cents at $8.49
Consumer and industrial products supplier GUD Holdings expects a “sound” financial performance in the 2012 financial year despite difficult conditions in the Australian retail sector.
MQG – MACQUARIE GROUP LTD – down $1.34 at $27.99
Almost $467 million has been wiped off Macquarie Group’s market value despite the investment bank sticking with its forecast of an improved full year net profit.
ORG – ORIGIN ENERGY LTD – down 32 cents at $14.77
The largest liquefied natural gas (LNG) sales agreement ever struck in Australia has been praised as a winner for workers and shareholders that will generate $7 billion a year.
QAN – QANTAS AIRWAYS LTD – down three cents at $1.85
Employment contracts of some cabin crew working for budget airline Jetstar are more onerous than any under the Work Choices industrial relations regime, independent senator Nick Xenophon says.
SFR – SANDFIRE RESOURCES LTD – down six cents at $7.90
Sandfire Resources has secured a $75 million debt facility from ANZ Bank for its highly regarded $400 million DeGrussa copper and gold project in Western Australia.
VBA – VIRGIN BLUE HOLDINGS LTD – down 0.5 cent at 30 cents
Virgin Australia says it will begin flights from Brisbane to Gladstone in Queensland from October.
WES – WESFARMERS LTD – down 72 cents at $29.37
Coles has posted a weaker than expected fourth quarter food and liquor sales result amid declining prices and consumer confidence in financial 2011.
AAP
