Stocks to watch on the Australian stock exchange:
BHP – BHP BILLITON – down 10 cents, or 0.3 per cent, at $32.26
BHP has agreed to sell the Cerro Colorado copper mine in Chile to private equity fund EMR Capital in a cash deal worth $230 million.
BLD – BORAL – up 16.5 cents, or 2.6 per cent, at $6.465
The building products supplier’s chairman Brian Clark will retire on June 30 due to health reasons, and is to be replaced by current non-executive director Kathryn Fagg.
TLS – TELSTRA – down 16 cents, or 5.5 per cent, at $2.75
Telstra is axing 8000 jobs over the next three years as part of a raft of structural changes aimed at saving $1 billion in costs and responding to increased competition from its rivals.