Stocks to watch on the Australian stock exchange on Wednesday, Feb 7:
BHP – BHP BILLITON – down $1.37, or 4.65 per cent, at $28.11
RIO – RIO TINTO – down 89 cents, or 1.52 per cent, at $57.59
The resources giants have been dragged lower after the iron ore price dipped to $US70.80 overnight.
DLS – DRILLSEARCH – down seven cents, or 8.24 per cent, at 78.0 cents.
ORG – ORIGIN ENERGY – down 50.0 cents, or 4.24 per cent, at $11.30.
OSH – OILSEARCH – down 69.0 cents, or 8.63 per cent, at $7.31.
WPL – WOODSIDE PETROLEUM – down $1.87, or 4.88 per cent, at $36.46
Local energy stocks followed their offshore counterparts lower after the oil price fell to $US50 for the first time in more than five years.
EVN – EVOLUTION MINING – up 3.5 cents, or 4.96 per cent, at 74.0 cents
NCM – NEWCREST MINING – up 28.0 cents, or 2.45 per cent, at $11.73
OGC – OCEANA GOLD – up nine cents, or 4.07 per cent, at $2.30
The price of gold hit a three-week high overnight as investors ploughed into the safe haven asset amid a steep sell-off on global stock markets and a fresh oil price plunge.
TEN – TEN NETWORK HOLDINGS – down 0.5 cents, or 2.27 per cent, at 21.5 cents
Ten’s independent directors are expected to recommence their assessment of four takeover proposals in mid January after taking a break over the Christmas-New Year period, The Australian Financial Review reports.
