Stocks to watch on the Australian stock exchange:
AAC – Australian Agricultural Company – down 10 cents, or 8.2 per cent, at $1.12
Shares in Australian Agricultural Company have plunged after the beef producer said it expects a statutory earnings loss of between $30 million and $40 million for fiscal year 2018.
LOV – LOVISA HOLDINGS – down 60 cents, or 6 per cent, at $9.40
Shares in budget jewellery retailer Lovisa fell on Wednesday following an announcement after market close on Tuesday that its chief executive Steve Doyle will step down this month.
MGC – MG UNIT TRUST – up 0.5 cents, or 0.5 per cent, at 95.5 cents
Murray Goulburn’s takeover by Saputo has been given the thumbs up by the competition regulator after the global dairy giant agreed to offload MG’s factory in Koroit, Victoria.
NST – NORTHERN STAR – down 4 cents, or 0.6 per cent, at $6.25
NCM – NEWCREST MINING – down 29 cents, or 1.5 per cent, at $19.72
EVN – EVOLUTION – unchanged at $3.12
Gold prices have fallen as US stock markets stabilised, and the US dollar strengthened, making bullion more expensive for users of other currencies.
FLT – FLIGHT CENTRE – down 61 cents, or 1.11 per cent, at $56.66
The Federal Court has ordered Flight Centre to pay a $12.5 million fine for attempting to induce three international airlines to fix prices between 2005 and 2009.