Stocks to watch on the Australian stock exchange on Tuesday:
BHP – BHP BILLITON LTD – up 88 cents at $42.30
The South Australian government has given BHP Billiton the upper hand in negotiations over the proposed Olympic Dam expansion, the Greens say.
BLY – BOART LONGYEAR LTD – up 13 cents at $4.18
Drilling services and products provider Boart Longyear has refinanced bank debt with a facility for up to $US250 million ($A227.81 million).
GBG – GINDALBIE METALS LTD – up 1.5 cents at 80.5 cents
Gindalbie Metals may take a small equity stake in the beleaguered multi-billion-dollar Oakajee port development in Western Australia.
GNC – GRAINCORP LTD – up one cent at $7.87
Graincorp chief executive Alison Watkins says she expects beer consumption in developed countries to improve as their economies pick up.
KCN – KINGSGATE CONSOLIDATED LTD – steady at $8.88
Gold miner Kingsgate Consolidated will spend $75 million to acquire what it says will be a three to four million tonne a year silver mine in NSW.
LEI – LEIGHTON HOLDINGS – up 36 cents at $21.47
The Australian Rail Track Corporation (ARTC) has selected Leighton Holdings to deliver the final stage of the Southern Sydney Freight Line (SSFL), worth $150 million.
MCC – MACARTHUR COAL LTD – up 28 cents at $15.83
US energy company Peabody Energy and European steel giant ArcelorMittal have made a direct appeal to Macarthur Coal’s shareholders to accept their hostile all-cash $4.7 billion bid after the target’s board rejected it on Monday.
TLS – TELSTRA CORPORATION – up three cents at $3.02
Telstra Corporation has outlined its plans to the competition regulator to complete a structural separation of its business in order to take part in the rollout of the national broadband network.
QAN – QANTAS AIRWAYS – up two cents at $1.865
VBA – VIRGIN BLUE HOLDINGS – steady at 29.5 cents
Tiger Airways Australia remains grounded until Wednesday at least, with a court hearing about its suspension adjourned for a third time.