Stocks to watch on the Australian stock exchange:
AMP – AMP LTD – down 7.5 cents, or 1.65 per cent, at $4.475
AMP shares have fallen after Australia’s largest wealth manager admitted in the banking royal commission that it lied to, or misled the regulator 20 times about its business practices.
CBA – COMMONWEALTH BANK – down 56 cents, or 0.8 per cent, at $72.20
Commonwealth Bank shares have dipped as Australia’s largest lender heads back to the banking royal commission having confirmed the spin off its global asset management business.
RIO – RIO TINTO – up $1.505, or 1.9 per cent, at $79.595
Global miner Rio Tinto says it’s prepared to adjust aluminium production guidance of 3.5 million to 3.7 million tonnes because of US sanctions against Russia, and once it has sold two smelters, and added that revisions may be necessary.
WPL – WOODSIDE PETROLEUM – up 36 cents, or 1.2 per cent, at $30.75
Oil and gas giant Woodside Petroleum has reported a lift in first-quarter production and sales revenue thanks to steady productions from its Train 1 at Wheatstone liquefied natural gas in north Western Australia.