Stocks to watch on the Australian stock exchange:
AWC – ALUMINA – steady at $2.66
S32 – SOUTH32 – up 3.5 cents, or 1 per cent, at $3.625
Worries over the availability of aluminium, combined with a weaker US dollar, have pushed the metal’s price to its highest level since 2011.
BOQ – BANK OF QUEENSLAND – down 26 cents, or 2.4 per cent, at $10.66
Bank of Queensland has joined the ranks of lenders offloading life insurance, agreeing to sell its St Andrew’s unit for $65 million. It also announced a first-half cash profit of $182 million, up four per cent on the previous corresponding period.
CIM – CIMIC – up 20 cents, or 0.5 per cent, at $43.96
The engineering giant reaffirmed its full-year profit guidance after lifting first-quarter profit seven per cent to $172 million.
DOW – DOWNER EDI – up 2 cents, or 0.3 per cent, at $6.50
OZL – OZ MINERALS – up 7 cents, or 0.8 per cent, at $8.92
Downer EDI has struck a $660 million deal with OZ Minerals to run mining services at Carrapateena, one of Australia’s largest undeveloped copper deposits, until the end of 2025.
VRL – VILLAGE ROADSHOW – down 48 cents, or 15.2 per cent, at $2.67
Theme park operator Village Roadshow downgraded its earnings forecasts as already weak visitor numbers have been compounded by a wet March and competition from the Gold Coast Commonwealth Games.
WHC – WHITEHAVEN – up 13 cents, or 3 per cent, at $4.41
Whitehaven said its total coal sales rose 10 per cent to 5.4 million tonnes in the March quarter, compared to the prior quarter, and thermal coal prices will stay buoyant if producers continue to “buy” coal rather than build new production capacity.