Stocks to watch on the Australian stock exchange on Wednesday:
BKN – BRADKEN LTD – down 19 cents at $7.50
Mining and rail equipment maker Bradken has reported a decline in full year net profit but flagged strong earnings growth in 2011/12.
CBA – COMMONWEALTH BANK OF AUSTRALIA – up $1.66 at $47.28
WBC – WESTPAC BANKING CORPORATION – up 42 cents at $19.26
Commonwealth Bank of Australia has cut interest rates on its fixed rate home loans by up to 60 basis points.
Westpac has cut the interest rate on its three-year fixed rate home loan by 20 basis points.
CCL – COCA-COLA AMATIL LTD – up 17 cents at $10.69
Coca-Cola Amatil’s first half profit has slumped nearly 28 per cent as it was forced to restructure its struggling SPC Ardmona (SPCA) business in Victoria at a cost of 150 jobs.
COH – COCHLEAR LTD – down $1.03 at $65.00
Cochlear has increased full year profit 16 per cent to a record, and the company says there will be ongoing demand for its hearing implant products from both developed and emerging markets.
CNP – CENTRO PROPERTIES GROUP – down 0.3 cent at 4.4 cents
CER – CENTRO RETAIL GROUP – down two cents at 32 cents
Debt-laden Centro Properties Group will consolidate its complicated funds structure into a new, publicly listed $7 billion shopping centre owner and manager.
GCL – GLOUCESTER COAL LTD – up 13 cents at $8.66
Miner Gloucester Coal has upgraded its full year net profit forecast by 14 to 18 per cent.
LEI – LEIGHTON HOLDINGS LTD – up 46 cents at $18.68
Leighton Holdings says it intends to sell a mining services provider based in Western Australia’s Pilbara region to BHP Billiton for about $705 million.
NAB – NATIONAL AUSTRALIA BANK LTD – up 60 cents at $21.50
National Australia Bank is on track to deliver an annual cash profit higher than $5.5 billion after strong June quarter earnings emphasised the return of margin growth for the bank.
NWS – NEWS CORPORATION LTD – down 19 cents at $13.76
NSWLV – NEWS CORPORATION LTD – down 17 cents at $13.38
News Corporation shares are being pounded amid the ongoing UK phone hacking scandal and general market distress in recent days.
ORG – ORIGIN ENERGY LTD – up 26 cents at $13.57
Origin Energy and ConocoPhillips have finalised an agreement so China’s Sinopec can take a 15 per cent interest in the Australia Pacific LNG project in Queensland.
TLS – TELSTRA CORPORATION LTD – down two cents at $2.79
Telstra is tipped to report a double-digit decline in net profit on Thursday, as its year-long bid to capture more customers eats into the bottom line.
VBA – VIRGIN BLUE HOLDINGS LTD – down 0.5 cent at 24.5 cents
Virgin Australia and Air New Zealand have been granted permission to fly fewer seats across the Tasman in response to Chilean volcanic ash cloud.
WEB – WEBJET LTD – closed on Tuesday at $1.60
Travellers booking flights online could save hundreds by trawling lesser-known websites, the consumer magazine Choice says.
