Stocks of interest on the Australian Securities Exchange on Wednesday
Stocks to watch on the Australian stock exchange on Wednesday, Nov 20:
GLL – GALILEE ENERGY – up half a cent, or 3.85 per cent, at 13.5 cents
Oil and gas company Galilee Energy is experiencing delays with a coal seam gas pilot well in central Queensland.
GPT – GPT GROUP – down six cents, or 1.6 per cent, at $3.62
DXS – DEXUS PROPERTY GROUP – down two cents, or 1.8 per cent, at $1.07
Property group GPT is hoping to own half of eastern Australia’s prime office space with a $3 billion counter takeover bid for Commonwealth Property Office Fund (CPA).
IIN – IINET – down three cents, or 0.5 per cent, at $6.32
The founder of internet service provider iiNet is stepping down as managing director to take a break.
MND – MONADELPHOUS GROUP – down five cents, or 0.3 per cent, at $17.97
Engineering firm Monadelphous expects revenue to be flat in the first half of the financial year, and soften in the second half as projects are completed.
RHL – RURALCO HOLDINGS – up 10 cents, or 3.1 per cent, at $3.31
Rain will help agribusiness Ruralco return to underlying profit levels achieved in 2011 and 2012.
SVW – SEVEN GROUP HOLDINGS – up eight cents, or 1.1 per cent, at $7.55
Earthmoving company WesTrac says its coal customers are still hurting and looking for cost cuts due to lower prices and a high Australian dollar.
TGA – THORN GROUP – down seven cents, or 2.8 per cent, at $2.42
Spending on new businesses has caused a five per cent fall in half year profit for the owner of Radio Rentals, Thorn Group.