Stocks to watch on the Australian stock exchange:
FXJ – FAIRFAX – up 0.5 cents, or 0.7 per cent, at 72 cents
Fairfax Media and NZME will have to negotiate again if they win their appeal against the NZ High Court’s decision to block their attempted merger.
MHJ – MICHAEL HILL INTERNATIONAL – up three cents, or 2.8 per cent, at $1.11
Jewellery chain Michael Hill International will close 80 per cent of its struggling Emma & Roe stores at the cost of up to $7.9 million, with just six outlets surviving the cull.
NWS – NEWS CORP – up 34 cents, or 1.6 per cent, at $21.01
TLS – TELSTRA – up 5.5 cents, or 1.7 per cent, at $3.355
Foxtel and Fox Sports will merge into a single company by the end of June, with News Corp owning 65 per cent of the new entity.