Stocks to watch on the Australian stock exchange:
API – AUSTRALIAN PHARMACEUTICAL INDUSTRIES – down 11.75 cents, or 8 per cent, at $1.3575
Australian Pharmaceutical Industries shares have continued to drop after the company on Monday flagged a fall in first-half profit on the back of weak retail sales at its Priceline outlets before and during the Christmas trading season.
JBH – JB HI-FI – up 40.5 cents, or 1.5 per cent, at $28.235
Electronics retailer JB Hi-Fi has been ranked among the top 250 retailers in the world for the first time.
QBE – QBE – down 14.5 cents, or 1.4 per cent, at $10.345
QBE has flagged a full-year loss of about $US1.2 billion ($A1.5 billion) on almost $US1 billion of one-off costs and blowouts associated with wildfires in California and Hurricane Maria in the Caribbean.
RMD – RESMED – up 96 cents, or 8.7 per cent, at $12.00
Respiratory device maker ResMed has lifted second-quarter sales revenue 13 per cent to $US601.3 million ($US750 million), helped by demand for its new range of sleep apnoea masks.
TGA – THORN GROUP – up 4.5 cents, or 5.7 per cent, at 83.5 cents
Radio Rentals’ parent company Thorn Group has agreed to pay $6.1 million in remediation for customers and expects to be hit with a $2 million in civil penalty.
TWE – TREASURY WINE ESTATES – up 73 cents, or 4.6 per cent, at $16.66
Shares in Treasury Wine Estates, a major producer and exporter to China, on Tuesday hit an all-time high of $16.645 after Wine Australia said exports to the Asian powerhouse had soared 63 per cent to a record $848 in 2017.