Stocks of interest at the close of trade on the ASX on Monday, November 19:
MPL – MEDIBANK – resurfaced from a trading halt down 17 cents, or 6.14 per cent at $2.60
Shares in Medibank, which was government-owned until its 2014 privatisation, were halted on Monday after the ADF told the insurer it would not extend its current arrangement with Medibank’s Garrison Health Services past June next year.
BBN – BABY BUNTING – up 21.5 cents, or 10.83 per cent at $2.20
Baby Bunting shares have defied the gloom elsewhere in the retail sector, surging more than 12 per cent after the company lifted the bottom end of its earnings guidance.
The retailer has told shareholders that it expects earnings for the 2019 financial year to be between $25 million and $27 million, compared to the $24 million to $27 million detailed in August’s full-year report.
MYR – MYER – down 4 cents, or 8.89 per cent at 41 cents
Myer shares have plummeted by as much as 15 per cent on their return to trade after the troubled retailer was forced to reveal a decline in first-quarter sales.
FXJ – FAIRFAX MEDIA – up 1.5 cents, or 2.44 per cent, at 63 cents
NEC – Nine Entertainment – up 3 cents, or 1.84 per cent at $1.66
Fairfax shareholders have voted to turn the page on the publisher’s 177-year-old history as an independent entity, approving the merger with Nine Entertainment.
Fairfax Media now has less than three weeks left a standalone operation after nearly 90 per cent of votes were cast in favour of the $4 billion merger that will lead to the disappearance of arguably the most famous name in Australian media history.
WES – WESFARMERS – down 53 cents, or 1.19 per cent at $43.86
Coles is on course to stand alone on the ASX this week after Wesfarmers secured court approval for the spin-off of the supermarket giant.