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Stocks to watch

Stocks to watch on the Australian stock exchange:

AGL - AGL ENERGY - down 46 cents, or 2.1 per cent, at $20.01

Higher wholesale electricity and gas prices have put AGL Energy on track to deliver a full-year underlying profit of almost $1 billion despite challenges on the retail side of its business.

AMP - AMP - up 18 cents, or 3.6 per cent, at $5.21

The wealth manager swung back to profit from a $344 million loss a year ago, following strong earnings momentum from its AMP Capital and AMP Bank businesses.

BHP - BHP BILLITON - down 41 cents, or 1.4 per cent, at $29.45

The mining giant pledged to continue to invest in its Olympic Dam mine after completing a $350 million upgrade, ahead of a return to full production in the first quarter of 2018.

DBF - DUXTON BROADACRE FARMS - up 8 cents, or 5.3 per cent, at $1.58

Duxton Broadacre Farming has had a successful entry to the Australian share market, with its shares rising by more than five per cent.

MGR - MIRVAC - up 1 cent, or 0.5 per cent, at $2.06

The property group reported a fall in half-year profit but maintained full-year guidance, saying its results will be affected by residential settlements weighted heavily towards the second half of the year.

MHJ - MICHAEL HILL INTERNATIONAL - down 7.5 cents, or 6.2 per cent, at $1.13

The jewellery chain expects its half year earnings to drop by almost two-thirds because of the closure of its US stores and efforts to improve its struggling charm brand Emma & Roe.

NAB - NATIONAL AUSTRALIA BANK - up 66 cents, or 2.3 per cent, at $28.90

NABs cash earnings slipped one per cent as expenses rose, partly due to the lender's increased spend on infrastructure and job cuts.

ORG - ORIGIN ENERGY - down 18 cents, or 2 per cent, at $8.77

Origin Energy flagged a $533 million hit to its first-half results following impairment charges for its Ironbark gas field and on its recently sold Lattice Energy business.

TAH - TABCORP - down 35 cents, or 6.9 per cent, at $4.76

The gaming giant's first-half profit slumped 58 per cent, mostly due to costs associated with the $11 billion merger with Tatts Group and the poor performance of online wagering and gaming business Sun Bets in the UK.

Austrlaian Associated PressBack to Breaking News

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