Stocks to watch on the Australian stock exchange:
ACX – ACONEX – up $2.34, or 44.23 per cent, at $7.63
US technology giant Oracle has agreed to buy construction software provider Aconex in an all-cash takeover valuing the company at $1.6 billion.
ANZ – ANZ BANKING GROUP – up 60 cents, or 2.13 per cent, at $28.82
ANZ has confirmed it will plough the proceeds from its stake in Shanghai Rural Commercial Bank into a $1.5 billion share buyback.
BHP – BHP BILLITON – up 54 cents, or 1.95 per cent, at $28.25
BHP Billiton and Esso Australia Resources will separately market their share of gas produced under the Gippsland Basin Joint Venture, following a consumer watchdog investigation.
CIM – CIMIC – up 43 cents, or 0.83 per cent, at $52.07
CIMIC’s CPB Contractors company has been awarded a $1.1 billion design and construct contract by the Victorian government which is expected to generate about $312 million in revenue.
DOW – DOWNER EDI – down four cents, or 0.58 per cent, at $6.87
India’s Adani group has cancelled all contracts awarded to a major contractor for its controversial Carmichael coal mine after deciding to develop the project on its own.
KGN – KOGAN.COM – up 51 cents, or 10.3 per cent, at $5.46
Online retailer Kogan.com will soon sell pet insurance after striking a partnership with PetSure, a subsidiary of The Holland Insurance Company.
RFG – RETAIL FOOD GROUP – down 20 cents, or 7.02 per cent, at $2.65
Retail Food Group shares have plunged to a five-year low amid ongoing media reports that the owner of Gloria Jean’s, Brumby’s and Donut King franchisees are struggling.
RIO – RIO TINTO – up 86 cents, or 1.22 per cent, at $71.43
Rio Tinto will increase the number of unmanned autonomous haul trucks it uses in the Pilbara by more than 50 per cent as part of a $5 billion productivity drive.