Stocks to watch on the Australian stock exchange:
MEA – MCGRATH – steady at 43 cents
Embattled property group McGrath Limited has cut its underlying full year earnings guidance by half, saying the impact of reduced sales volumes has been worse than expected.
NCM – NEWCREST MINING – down 99 cents, or 4.6 per cent, at $20.60
Newcrest will take a financial hit from the dam wall breach at its NSW goldmine, Cadia, but says it is still too early to say how big it will be.
STO – SANTOS – up nine cents, or 1.8 per cent, at $4.98
OSH – OIL SEARCH – up seven cents, or one per cent, at $7.15
WPL – WOODSIDE PETROLEUM – up 34 cents, or 1.2 per cent, at $28.94
Oil prices rose nearly three per cent, or $US2, on Friday, rebounding from two days of declines as Wall Street climbed on strong U.S. jobs data, and easing tensions over North Korea.