Stocks to watch on the Australian securities exchange:
SWM – SEVEN WEST MEDIA – up 6.5 cents, or 12.6 per cent, to 56.25
NEC – NINE ENTERTAINMENT – steady at $2.25
The Seven Network and Foxtel have won the bidding war for cricket’s TV rights, paying $1.2 billion and ending the four-decade relationship between the sport and the Nine Network.
CBA – COMMONWEALTH BANK – up 7 cents, or 0.1 per cent, to $73.16
Commonwealth Bank has agreed to pay $3 million after the corporate watchdog found two of the lender’s financial planning arms charged customers millions of dollars for advice they did not receive.
TWE – TREASURY WINE ESTATES – down 4 cents, or 0.2 per cent, to $17.50
Treasury Wine CFO Gunther Burghardt is taking on a new role managing the company’s key Americas operations and deputy CFO Matt Young has been elevated as his replacement.