Stocks to watch on the Australian stock exchange on Tuesday, Dec 2:
MTS – METCASH – down 43 cents, or 16.48 per cent, at $2.18
Metcash shares have slumped to a 10 year low after the grocery wholesaler flagged another earnings slide and admitted its much hoped for turnaround could be another year away.
QAN – QANTAS – up nine cents, or 4.69 per cent, at $2.01
Qantas shares have broken through the $2-mark for the first time in more than three years as a major slump in oil prices bolsters investor enthusiasm for airline stocks worldwide.
RIO – RIO TINTO – down $2.44, or 4.18 per cent, at $56.66
Investors are expected to grill Rio Tinto boss Sam Walsh this week about the company’s plans to develop the $US20 billion ($A21.64 billion) Simandou iron ore project in West Africa.
STO – SANTOS – down 99.0 cents, or 9.8 per cent, at $9.11
WPL – WOODSIDE PETROLEUM – down $1.55, or 4.34 per cent, at $34.20
OSH – OIL SEARCH – down 68.0 cents, or 8.58 per cent, at $7.29
ORG – ORIGIN ENERGY – down 55 cents, or 4.49 per cent, at $11.70
Shares in Australia’s oil producers continue to suffer with crude prices falling to a four-year low after OPEC maintained production targets at 30 barrels a day despite a global glut in supplies.
TEN – TEN NETWORK – up one cent, or 4.04 per cent, at 25.5 cents.
Ten Network director Paul Mallam has quit the troubled broadcaster amid speculation it might receive a takeover offer within days.
