Stocks of interest on the Australian stock exchange and their moves over the course of the week:
A2M – A2 MILK – down $1.68, or 14 per cent, at $10.26
The A2 Milk Company was hit by a steep midweek sell-off when it said full-year revenue would rise by less than expected by analysts.
HSO – HEALTHCOPE – up one cent, or 0.4 per cent, at $2.48
Healthscope has received a $2.50-a-share takeover bid from Brookfield Asset Management that values the hospital operator at $4.35 billion, which is higher than the $2.36-a-share bid by a consortium of superannuation and capital funds.
MYR – MYER – up 6.5 cents, or 16.9 per cent, at 45 cents
Myer has warned of further profit pain ahead, with a warm start to the winter season hitting sales but analysts say the retailer’s latest sales slide could have been worse.
TCL TRANSURBAN – down 46 cents, or 3.9 per cent, at $11.40
The competition watchdog flagged possible concerns over Transurban’s interest in taking a majority stake of Sydney’s WestConnex motorway, saying the toll road operator’s dominance in NSW could stymie competition in the sector.
TWE – TREASURY WINE ESTATES – down $2.15, or 11.5 per cent, at $16.57
The Penfolds maker is reportedly facing an oversupply of its wine in China, though the company said it is comfortable with the sustainability of its operating model in China and its approach to managing inventory levels.