Stocks to watch on the Australian stock exchange on Wednesday, Jan 14:
AWC – ALUMINA – up 8.0 cents, or 4.2 per cent, at $1.965
Chief executive Peter Wasow says margins in the fourth quarter improved thanks to the weaker Australian dollar and better alumina prices.
BHP – BHP BILLITON – down 54 cents, or 1.9 per cent, at $27.97
BHP Billiton’s new spinoff company South32 is expected to take up naming rights on one of Perth’s largest corporate towers after signing a 10-year lease.
CVN – CARNARVON PETROLEUM – up 1.0 cent, or 7.4 per cent at 14.5 cents
The oil and gas explorer will spend $10 million on seismic data in its search for more oil and gas prospects in north Western Australia.
ERA – ENERGY RESOURCES AUSTRALIA – down 2.0 cents, or 1.5 per cent, at $1.27
The uranium miner increased production during the September quarter by 19 per cent and said a pre-feasibility study on building a new underground mine in the Northern Territory was being finalised.
MIR – MIRRABOOKA INVESTMENTS – down 7.0 cents, or 2.7 per cent, at $2.53
The small- and mid-cap investor suffered a 16 per cent slide in first half profit after being hit by weakness in the resources sector.
OSH – OIL SEARCH – down 16 cents, or 2.2 per cent, at $7.14
STO – SANTOS – down 8.0 cents, or 1.1 per cent, at $7.21
WPL – WOODSIDE PETROLEUM – down 63 cents, or 1.73 per cent, at $35.72
Brent crude prices dropped below $US50 a barrel for the first time in six years overnight after Goldman Sachs predicted the commodity would sink to $US39 a barrel in six months.
PTL – PENTAL – down 1.00 cent, or 2.04 per cent, at 48 cents
The company behind White King cleaning products and Huggie fabric softener is warning of a first half profit slump amid tough trading conditions.
WOW – WOOLWORTHS – down 17 cents, or 0.6 per cent, at $29.90
WES – WESFARMERS – up 6.0 cents, or 0.14 per cent, at $4.49
PBG – PACIFIC BRANDS – down 0.5 cents, or 0.9 per cent, at 52.5 cents
PMV – PREMIER INVESTMENTS – down 5.0 cents, or 0.5 per cent, at $10.05
The weaker Australian dollar could tempt more foreign retailers to set up shop Down Under, a major report on the world’s top 250 retailers by Deloitte says. Meanwhile, consumer confidence rose by just 0.3 per cent last week, according to the latest ANZ/Roy Morgan survey.