Stocks to watch on the Australian stock exchange:
AMP – AMP – down 11 cents, or 2.95 per cent, at $3.62
AMP has been hit with a fourth shareholder class action over the scandals revealed at the banking royal commission and the resulting damage to the embattled financial giant’s market value.
ANZ – ANZ BANKING GROUP – up 21 cents, or 0.8 per cent, at $26.73
Senior bankers charged in an extraordinary cartel conduct case brought by Australian regulators are unlikely to face hefty jail terms, a banking expert says.
ING – INGHAM’S – down 37 cents, or 9.1 per cent, at $3.72
Ingham’s chief executive Mick McMahon will step down after two-and-a-half years in the role, during which he oversaw the poultry producer’s transition from a privately owned company to an ASX-listed firm.
FMG – FORTESCUE METALS GROUP – down six cents, or 1.3 per cent, at $4.74
AGO – ATLAS IRON – down 0.4 cents, or 12.5 per cent, at 2.8 cents
MIN – MINERAL RESOURCES – up 11 cents, or 0.6 per cent, at $18.86
Fortescue will buy a 15 per cent stake in fellow Pilbara iron ore miner Atlas Iron, taking its interest to 19.9 per cent, and said it does not intend to support the proposed merger of Atlas Iron and Mineral Resources.
WES – WESFARMERS – up 81 cents, or 1.8 per cent, at $46.48
The retail giant, which is set to spin-off its Coles supermarkets business, says its main focus is on existing businesses and not making new acquisitions.