Stocks to watch on the Australian stock exchange:
GXY – GALAXY RESOURCES – up 36.5 cents, or 12.2 per cent, at $3.355
Galaxy Resources has announced it will sell a some of its of lithium mining tenements in Salar del Hombre Muerto in Argentina to South Korean steelmaking giant POSCO for $US280 million ($A371 million).
RFG – RETAIL FOOD GROUP – up seven cents, or 9.1 per cent, at 84 cents
The head of embattled cafe and pizza outlet owner Retail Food Group, Andre Nell, has been replaced by the man overseeing the company’s business-wide review, Richard Hinson.
WPL – WOODSIDE PETROLEUM – up 27 cents, or 0.9 per cent, at $31.97
OSH – OIL SEARCH – up 5.5 cents, or 0.7 per cent, at $8.085
ORG – ORIGIN ENERGY – up 3.5 cents, or 0.4 per cent, at $9.525
Despite another fall in oil prices overnight, energy stocks are up, thanks to some bargain hunting by traders after they fell for previous five consecutive trading sessions.