Stocks to watch on the Australian stock exchange:
IPL – INCITEC PIVOT – down 10.5 cents, or 2.6 per cent, at $3.875
Incitec Pivot has warned that its 2020 and 2021 full-year profits will be hit by the end of a contract to supply ammonium nitrate prill to mining giant BHP Billiton.
MTC – METALSTECH – up 6.5 cents, or 23.2 per cent, at 34.5 cents
Shares in Metalstech have rocketed after Chinese electric vehicle battery manufacturer Dynavolt subscribed for 10 million shares in the Canada-focused lithium explorer in a binding agreement that includes scope for Dynavolt to lift its stake.
TGH – TEGEL – down 14.5 cents, or 11.5 per cent, at $1.12
Turkey and chicken farmer Tegel Group has suffered a share selloff after announcing a 2.3 per cent decline in first-half net profit.
TPM – TPG TELECOM – up 10 cents, or 1.7 per cent, at $6.13
TPG Telecom’s chairman says the rollout of the national broadband network has been detrimental to the company, but he is confident the telco’s mobile and fixed-line projects will benefit shareholders over the long term.