Stocks to watch on the Australian stock exchange:
A2M – THE A2 MILK COMPANY – is down 1.5 cents, or 0.2 per cent, at $7.055
QAN – QANTAS AIRWAYS – is down 13 cents, or 2.4 per cent, at $5.23
The A2 Milk Company has appointed Jayne Hrdlicka as chief executive, ending the Qantas loyalty program boss’s seven-year association with the airline.
CBA – COMMONWEALTH BANK OF AUSTRALIA – is down 31.5 cents, or 0.4 per cent, at $79.995
Commonwealth Bank shares have dropped at the start of trade after Australia’s largest bank revealed AUSTRAC intends to make further allegations related to breaches of money laundering and counter-terrorism laws.
MND – MONADELPHOUS GROUP – is up 67 cents, or 3.9 per cent, at $17.87
Engineering services firm Monadelphous Group has secured new contracts worth $110 million in the resources and infrastructure sectors.
MYR – MYER – is down 5.5 cents, or 7.6 per cent, at 67 cents
Myer shares have plunged to an all-time low after the department store warned a further decline in sales in the lead-up to Christmas would hit its first-half profits.
ORG – ORIGIN ENERGY – is up 2.5 cents, or 0.3 per cent, at $9.295
Origin Energy has pledged to reduce its carbon emissions by 50 per cent by 2032, as part of a broader transition to a low-carbon business to help limit global warming to the 2degC set at the Paris climate agreement.
WOW – WOOLWORTHS – is down 16 cents, or 0.6 per cent, at $26.89
Woolworths says it is disappointed with the consumer watchdog’s decision to oppose the $1.8 billion takeover of its service stations by BP Australia, and will now assess its options.