Stocks to watch on the Australian stock exchange:
CBA – COMMONWEALTH BANK – up 81 cents, or 1.1 per cent, to $74.36
Four US pension funds are joining a class action against the Commonwealth Bank over alleged breaches of continuous disclosure obligations related to the lender’s money-laundering scandal.
GFY – GODFREYS GROUP – up 8.5 cents, or 40.5 per cent, to 29.5 cents
Struggling vacuum cleaner merchant Godfreys is assessing a $13 million takeover bid by its 99-year-old co-founder, John Johnston.
IMM – IMMUTEP – up 0.3 cents, or 12.5 per cent, to 2.7 cents
Immutep shares have jumped after global pharmaceutical giant Merck reported that a trial of its drug Keytruda had improved the overall survival rate of patients with a form of lung cancer.
Separately, Immutep and Merck are jointly evaluating the combination of Immutep’s immunotherapy product, eftilagimod alpha, with Merck’s Keytruda to treat lung, head and neck, and ovarian cancers
RIO – RIO TINTO – up $2.03, or 2.8 per cent, to $75.50
Rio Tinto’s Australian tax bill rose 30 per cent to $A4.9 billion ($US3.8 billion) last year, helped by higher iron ore prices, and the the global mining giant says 75 per cent of its total $A6.6 billion outlay on taxes and royalties was paid in Australia.
WHA – WATTLE HEALTH – in a trading halt at $2.26
Infant formula and milk powder supplier Wattle Health has entered into a new organic milk joint venture that will give it control of production, from farm to consumer.