Stocks to watch
Stocks making moves or news on the ASX at the close on Friday, August 31:
TPM - TPG TELECOM - down 67 cents, or 7.2 per cent, to $8.64
HTA - HUTCHISON TELECOMS - down 4.5 cents, or 25 per cent, to 14 cents
TLS - TELSTRA - down 13 cents, or four per cent, to $3.10
Vodafone Australia and TPG Telecom have announced plans to merge into a single $15 billion telecommunications giant.
HVN - HARVEY NORMAN - down 17 cents, or 4.5 per cent, to $3.60
Harvey Norman's full-year profit has slumped 16.4 per cent to $375.4 million due to property revaluations and the furniture and electrical goods retailer's failed dairy farming investment.
TCL - TRANSURBAN GROUP - Shares are in a trading halt
A consortium headed by toll road operator Transurban has agreed to pay the NSW government $9.3 billion for a 51 per cent stake in the new WestConnex motorway.
REH - REECE - up 37 cents, or three per cent, to $12.57
Plumbing group Reece Limited has delivered on its promise of a record full-year result, lifting profit 6.1 per cent to $225 million.
RFG - RETAIL FOOD GROUP - down six cents, or 8.8 per cent, to 57 cents
Retail Food Group is expanding its store closure program after the Gloria Jean's and Donut King operator slumped to a $306.7 million full-year loss.
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