Stocks to watch on the Australian stock exchange:
ANZ – ANZ BANKING GROUP – up 16 cents, or 0.6 per cent, at $28.62
CBA – COMMONWEALTH BANK OF AUSTRALIA – down 26 cents, or 0.3 per cent, at $79.17
ANZ rebounded strongly on Friday, following Prime Minister Malcolm Turnbull’s announcement of a royal commission into the finance sector on Thursday, but the Commonwealth Bank slid again after a promising early-session rally.
BBG – BILLABONG – up 17 cents, or 21.8 per cent, at 95 cents
Billabong has received a merger proposal from the owner of the Quiksilver and Roxy brands that values the surfwear retailer and wholesaler at about $200 million.
GSW – GETSWIFT – up $1.64, or 83.7 per cent, at $3.60
Delivery logistics software group Getswift has announced deals with Amazon and fast food giant Yum! sending its shares skyrocketing in the half hour of trade that happened before shares were suspended, pending more information on the deal to come Monday.
GFY – GODREYS GROUP – down 9.5 cents, or 19.2 per cent, at 40 cents
Shares in vacuum cleaner retailer Godfreys have plunged to an all-time low after the company cut its earnings forecast due to weaker-than-expected sales and delays in its franchise rollout.
PMV – PREMIER INVESTMENTS – down 11 cents, or 0.8 per cent, at $14.30
Premier Investments chairman Solomon Lew has upgraded the long-term outlook for the group’s star business, stationery chain Smiggle.
TLS – TELSTRA – down one cent, or 0.3 per cent, at $3.42
Telstra has cut its full-year guidance for earnings and revenue, blaming the temporary suspension of the national broadband network rollout by NBN Co for a short-term hit to its books.