Stocks to watch on the Australian stock exchange:
ARG – ARGO INVESTMENT – down two cents, or 0.2 per cent, at $8.34
Argo Investments’ first-half profit has risen 6.2 per cent to $110.5 million, driven by improved dividends from companies it invested in – notably BHP Billiton and Rio Tinto.
AWE – AWE – down three cents, or 3.1 per cent, at 95.5 cents
Takeover target AWE Ltd has decided that an offer from Japanese firm Mitsui & Co is the best option among three suitors vying for control of the company.
BUB – BUBS AUSTRALIA – down 0.5 cents, or 0.7 per cent, at 72 cents
Baby formula group Bubs Australia has announced that Woolworths supermarkets will stock its new goat milk infant formula from April.
DOW – DOWNER EDI – down 26 cents, or 3.8 per cent, at $6.62
Downer EDI has flagged a goodwill impairment charge of $77 million on its mining operations after failing to renew two material contracts and delays in securing alternative business.
FXJ – FAIRFAX MEDIA – down one cent, or 1.4 per cent, at 71 cents
Fairfax Media and its proposed New Zealand merger partners are seeking leave to appeal a New Zealand High Court decision blocking a merger between its local asset, Stuff Limited, and rival NZME Limited.
GXL – GREENCROSS – down one cent, or 0.2 per cent, at $6.35
Former Qantas Loyalty head Simon Hickey will take over as chief executive of pet care retailer and vet services provider Greencross, replacing Martin Nicholas.
WBC – WESTPAC BANKING CORP – down 39 cents, or 1.2 per cent, at $31.31
Westpac said on Monday another $8.6 billion of Westpac mortgages moved to principal and interest, from interest only in the first quarter.
WES – WESFARMERS – down $1.99, or 4.5 per cent, at $42.16
Wesfarmers’ plans to roll out Bunnings across the UK are in doubt after the conglomerate was forced into $1.3 billion in first-half writedowns, due mostly to the poor performance of the British hardware business.