Stocks of interest at the close of trade on the ASX on Wednesday, November 7:
CBA – COMMONWEALTH BANK – up 40 cents, or 0.58 per cent, to $69.35
Commonwealth Bank’s first-quarter unaudited cash profit has fallen 5.7 per cent to $2.5 billion, with higher funding costs and competition for borrowers putting pressure on margins.
WBC – WESTPAC – up 40 cents, or 0.97 per cent, to $27.18
Westpac chief executive Brian Hartzer has seen his pay drop nearly 10 per cent after a year in which profits were flat and the bank was hauled across the coals at the royal commission.
BGA – BEGA CHEESE – down two cents, or 0.33 per cent, to $5.99
CZZ – CAPILANO HONEY – up 21 cents, or 1.02 per cent, to $20.85
The buzz had been Bega Cheese was interested in buying Capilano Honey but the Victorian dairy company is instead selling its stake to a Chinese-focused consortium.
FNP – FREEDOM FOODS – up 29 cents, or 5.62 per cent, to $5.45
Shares in Freedom Foods jumped after the health food manufacturer announced it had joined Alibaba Group-owned Theland to create a range of cereals and snacks in China.
KGN – KOGAN.COM – down 10 cents, or 3.52 per cent, to $2.74
Online retailer Kogan.com is targeting a slice of Australia’s $2.7 trillion superannuation industry with its own-brand fund.