Stocks to watch on the Australian stock exchange:
HVN – HARVEY NORMAN – down 6 cents, or 1.5 per cent, at $3.95
The retailer’s shares continue to fall after a plunge on Wednesday, which was triggered by a 19 per cent drop in first-half profit under the pressure of higher costs and a diminished contribution from its huge property portfolio.
MGC – MG UNIT TRUST – down 2 cents, or 2.4 per cent, at 82.5 cents
The competition watchdog is concerned that Canadian dairy giant Saputo’s proposed takeover of Australian dairy processor Murray Goulburn could weaken competition for farmers’ milk in south-west Victoria and south-east South Australia.
ORI – ORICA – down 69 cents, or 3.7 per cent, at $17.955
Explosives and fertiliser maker Orica says it expects operational issues and writedowns to cut its first-half earnings before interest and tax by nearly $400 million.
RFG – RETAIL FOOD GROUP – suspended from trade at $2.04
Donut King’s embattled parent company, Retail Food Group, has been suspended from trade on the ASX for failing to lodge its half-year report.