Stocks to watch on the Australian stock exchange on Thursday.
AGO – ATLAS IRON LTD – down 16 cents, or 3.81 per cent, at $4.04
Atlas Iron set new haulage and processing records in the June quarter and is gaining exposure to the large Brazilian iron ore market by becoming the biggest shareholder in Centaurus Metals.
AQA – AQUILA RESOURCES – up 23 cents, or 3.27 per cent, at $7.26
Aquila Resources is still pursuing legal action against its Issac Plains coal mine joint venture partner, Brazil’s Vale, but the pair have resolved a dispute that threatened to close the operation.
ALZ – AUSTRALAND PROPERTY GROUP – down four cents, or 1.5 per cent, at $2.62
Developer Australand Property Group says it’s well-placed to deliver guidance in fiscal 2011 after posting a 17 per cent first half profit in a cautious environment.
BTA – BIOTA HOLDINGS LTD – up half a cent at $1.00
Anti-infective drug developer Biota has received $6.6 million in royalties for its Relenza flu drug from global pharmaceuticals firm GlaxoSmithKline (GSK) in the 2011 financial year.
CBA – COMMONWEALTH BANK OF AUSTRALIA LTD – down 40 cents at $49.82
Commonwealth Bank of Australia’s (CBA) full year financial results next month will include several changes to the balance sheet it says will improve transparency.
GCL – GLOUCESTER COAL LTD – up five cents at $9.47
Gloucester Coal increased its fourth quarter sales by 16 per cent from a year earlier by taking advantage of the available port capacity.
MBN – MIRABELA NICKEL LTD – down 17 cents, or 8.02 per cent, at $1.95
Perth-based miner Mirabela Nickel boosted nickel production at its flagship Brazilian mine by 20 per cent during the three months to June 30.
OMH – OM HOLDINGS – steady at 99 cents
OM Holdings has hit back at attacks from its largest shareholder, Consolidated Minerals (ConsMin), by announcing record quarterly production at its flagship manganese mine.
ROC – ROC OIL COMPANY – steady at 33 cents
ROC Oil Company has trimmed its full year exploration and capital spend as it continues to seek new projects in Malaysia.
SGT – SINGAPORE TELECOMMUNICATIONS LTD – down two cents at $2.50
Optus will axe up to 180 jobs from senior and middle management and leave a further 70 vacancies unfilled in a bid to cut costs at Australia’s number two telco.
VBA – VIRGIN BLUE HOLDINGS LTD – down hald a cent at 30.5 cents
Virgin Australia says word of mouth has proved a powerful ally in the airline’s bid for more corporate and business passengers.
AAP
