Stocks to watch on the Australian stock exchange:
AMP – AMP LTD – up one cent, or 0.25 per cent, at $4.07
The Australian Shareholders Association says AMP chair Catherine Brenner’s position is “untenable” and she should “resign or step down” in light of the revelations in the banking royal commission.
NCM – NEWCREST – down 1.5 cents, or 0.07 per cent, at $20.755
Newcrest Mining has cut its full year gold output forecast, mainly on the back of a dam collapse which halted operations at its biggest and lowest-cost mine.
THC – THE HYDROPONICS COMPANY – up 7.5 cents, or 12.3 per cent, at 68.5 cents
Shares in pot stock The Hydroponics Company (THC) have soared after the company acquired one of the largest pharmaceutical botanicals extraction and refinement plants in the southern hemisphere from LEO Pharma.
TLS – TELSTRA CORP – down 0.5 cents, or 0.16 per cent, at $3.095
Telstra will find out on Thursday whether it must pay up to $10 million in fines and customer refunds totalling $5 million after action by the consumer watchdog over its third-party billing service.
WBC – WESTPAC – down 80 cents, or 2.74 per cent, at $28.38
Westpac shares have tumbled after investment bank UBS downgraded the bank to “sell” over concerns raised about the quality of its mortgage book in documents released by the banking royal commission.
WES – WESFARMERS – down 27.5 cents, or 0.64 per cent, at $42.585
Wesfarmers has blamed severe winter weather for another dramatic fall in sales at its struggling Bunnings venture in the UK and Ireland.