Stocks to watch on the Australian stock exchange:
AMP – AMP LTD – down 13 cents, or 3.0 per cent, at $4.17
A global law firm is investigating a possible class action against financial services giant AMP, which has admitted in the banking royal commission to cheating customers.
BHP – BHP BILLITON – up 37 cents, or 1.2 per cent, at $31.23
A court in Brazil has granted an additional 66 days for BHP Billiton, Vale and their joint venture partner Samarco to negotiate a settlement of multi-billion dollar public civil claims over the 2015 mine dam collapse in Brazil.
BXB – BRAMBLES – down 3.0 cents, or 0.3 per cent, at $9.61
Slater and Gordon and litigation fund IMF Bentham have announced a proposed class action against Brambles, alleging the logistics firm ‘cannibalised’ growth and misled investors over future higher profits.
ISU – ISELECT – down 55.5 cents, or 55.5 per cent, at 44.5 cents
iSelect shares have plummeted after the insurer cut its full year earnings guidance and announced its chief executive has resigned, effective immediately.
KGN – KOGAN.COM – down $1.64, or 17.8 per cent, at $7.60
Kogan.com’s latest cash flow statement shows its revenue rose about 46 per cent and the gross transaction value jumped 50 per cent in the third quarter.
MQA – MACQUARIE ATLAS ROADS – down 11 cents or 1.8 per cent, at $5.91
Macquarie Atlas Roads has announced that Graeme Bevans will be the chief executive of the company once it separates its management from the Macquarie Group.
NCM – NEWCREST MINING – up 56 cents, or 2.8 per cent, at $20.55
Newcrest has regulatory permission to use its old Cadia Hill open pit as a tailings storage facility to help return to full production rates, after a partial dam collapse halted operations at its Cadia underground gold mine in NSW last month.