Stocks to watch on the Australian stock exchange:
AAC – AUSTRALIAN AGRICULTURAL COMPANY – up 8.5 cents, or 7.3 per cent, at $1.25
HT1 – HT&E – up four cents, or 2.3 per cent, at $1.25
Cattle producer Australian Agricultural Company and HT&E, the renamed APN News and Media, will be removed from the Australian share market’s benchmark ASX200 index on March 19.
MYR – MYER – down 2.5 cents, or 5.5 per cent, at 43 cents
Myer’s woes have led to the struggling department store being removed from the ASX200 index later this month, and the demotion is likely to put even more pressure on Myer shares because some fund managers track the index and are therefore likely to jettison the stock.
OZL – OZ MINERALS – down five cents, or 0.5 per cent, at $9.62
Oz Minerals is considering renewable energy options for its current and future assets, in a bid to combat ongoing pressure from soaring electricity prices.
WPL – WOODSIDE PETROLEUM – down 20 cents, or 0.7 per cent, at $28.79
STO – SANTOS – down 3.5 cents, or 0.7 per cent, $4.875
OSH – OIL SEARCH – down 8.5 cents, or 1.2 per cent, at $7.105
Local energy stocks are down after oil prices declined during offshore trade, heading for a second straight weekly drop on a stronger US dollar.