Stocks to watch on the Australian stock exchange on Friday:
ACL – ALCHEMIA LTD – up 2.5 cents at 63.5 cents
Drug developer Alchemia’s generic blood-thinning drug has been launched in the United States by Alchemia’s marketing partner, Dr Reddy’s Laboratories.
CAZ – CAZALY RESOURCES LTD – up three cents at 38 cents
Shares in Cazaly Resources jumped after the junior iron ore explorer announced the sale of its Parker Range project in Western Australia.
DUE – DUET GROUP – in trading halt, last traded at $1.60
Duet Group says it expects to pay a distribution of 16 cents per security in 2011/12 as it suspends its distribution reinvestment plan while it goes to the market to raise $277 million in new capital.
ERA – ENERGY RESOURCES OF AUSTRALIA LTD – down 42 cents at $3.92
Energy Resources Australia has dramatically lowered the estimated reserves at its key Ranger uranium mine.
GBG – GINDALBIE METALS LTD – down two cents at 76.5 cents
Gindalbie Metals has signed a rail access agreement allowing it to transport iron ore from its multi-billion-dollar Karara project to the Geraldton Port in Western Australia’s Mid West region.
GNS – GUNNS LTD – in trading halt, last traded at 20.5 cents
Gunns shares have gone into a trading halt as the federal and state governments finalise an agreement to potentially restructure Tasmania’s forest industry.
LEI – LEIGHTON HOLDINGS LTD – down seven cents at $20.00
Construction giant Leighton Holdings expects a lesser annual loss than forecast due to renewed confidence the Brisbane Airport Link will be completed on time.
LYC – LYNAS CORPORATION LTD – up three cents at $2.10
A mine that will tap into the richest known deposit of rare earths in the world has been officially opened in Western Australia’s Goldfields region by Premier Colin Barnett.
MCC – MACARTHUR COAL LTD – up three cents at $15.78
Takeover target Macarthur Coal has told shareholders again that there is no need to take any action in relation to a hostile $4.7 billion offer from PEAMCoal.
NCM – NEWCREST MINING LTD – down 10 cents at $40.65
Ten people, including two Australian residents, died when a helicopter flying to a Newcrest mine in Indonesia crashed.
RIO – RIO TINTO LTD – down $1.02 at $76.58
Global miner Rio Tinto says it is confident that demand for its main products of iron ore, coal and aluminium will double, despite the uncertain world economic outlook.
Rio Tinto reported a record $US7.6 billion ($A7.08 billion) first half net profit, thanks once again to booming commodities markets, driven by industrialisation in Asia.
SPT – SPOTLESS GROUP LTD – down one cent at $2.01
Spotless Group has confirmed media reports that it will retain its garment hanger business, Braiform, following unsolicited approaches from potential buyers.
TCL – TRANSURBAN GROUP – down four cents at $5.07
Toll road operator Transurban Group has increased its annual profit by nearly 90 per cent to $112.5 million as revenue from tolls rose 10 per cent.
WRT – WESTFIELD RETAIL TRUST – up two cents at $2.44
Westfield Retail Trust says it will pay a half year distribution of 8.1 cents per stapled security for the six months ended June 30.
