Stocks to watch on the Australian stock exchange:
AMP – AMP LTD – up 0.5 cents, or 0.13 per cent, at $3.915
AMP has been hit with a third class action over the scandals revealed at the banking royal commission and the resulting damage to the embattled financial giant’s market value.
NST – NORTHERN STAR – up 15 cents, or 2.44 per cent, at $6.31
NCM – NEWCREST MINING – up 23 cents, or 1.12 per cent, at $20.85
EVN – EVOLUTION – up one cent, or 0.31 per cent, at $3.26
Gold prices have surged above $US1,300 per ounce as the US dollar faded after US President Donald Trump called off a summit with North Korea, stoking political tensions.
WES – WESFARMERS – up 31 cents, or 0.69 per cent, at $45.42
Wesfarmers will pull out of the UK hardware market, announcing it will sell the Homebase chain it bought two years ago to turn into Bunnings, and will record a $323 million to $406 million loss on the deal.
WPL – WOODSIDE PETROLEUM – down 80 cents, or 2.38 per cent, at $32.79
STO – SANTOS – down three cents, or 0.51 per cent, at $5.87
OSH – OIL SEARCH – down 10 cents, or 1.2 per cent, at $8.22
Oil prices fell about $US1 in offshore trade, with expectations building that reduced supplies from Venezuela and Iran could prompt OPEC to wind down output cuts in place since the start of 2017.