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Last Updated: Dec 19th, 2008 - 10:02:01
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PERTH - Rio Tinto Ltd has deferred part of the underground expansion of its Argyle diamond mine in Western Australia as part of its capital spending review.
MELBOURNE - National Australia Bank Ltd has warned that bad debts will rise amid "testing times" in 2009 and dividend levels cannot be guaranteed.
STOCKS TO WATCH ON THE AUSTRALIAN STOCK EXCHANGE ON FRIDAY:
QAN - QANTAS AIRWAYS LTD - up 17 cents to $2.43 Qantas and British Airways have called off plans to merge into an $8 billion-plus mega carrier after failing to agree on key terms.
CBA - COMMONWEALTH BANK OF AUSTRALIA LTD - down $2.65, or 9.09 per cent, at $26.50 Shares in Commonwealth Bank of Australia slumped to their lowest level in almost six years after the country's biggest lender finalised a $2 billion capital raising.
CTX - CALTEX AUSTRALIA LTD - steady at $6.96 Refiner Caltex Australia has upgraded its operating earnings guidance for calendar 2008, due to a weaker Australian dollar.
BHP - BHP BILLITON LTD - up five cents to $31.00 BHP Billiton says it will focus on "lower risk brown-field expansions" during the current economic uncertainty, rather than "start up projects in new geographies".
RIO - RIO TINTO LTD - down 32 cents to $40.00 Rio Tinto Alcan is unable to finance its minority stake in a joint venture aluminum complex in Saudi Arabia, the company and its Saudi partner announced Wednesday, citing the global financial crisis.
The miner has deferred part of the underground expansion of its Argyle diamond mine in Western Australia as part of its capital spending review.
TEN - TEN NETWORK HOLDINGS LTD - down 3.5 cents to $1.01 Ten Network says its underlying earnings fell 25.2 per cent in the first quarter of fiscal 2009 amid the tough advertising market.
CNP - CENTRO PROPERTY TRUST - down 2.4 cents to 8.6 cents
CER - CENTRO RETAIL TRUST - down 1.3 cents to 7.4 cents
Troubled real estate investor Centro says it will not pay distributions for the half year ending December 31.
NAB - NATIONAL AUSTRALIA BANK LTD - up 50 cents to $19.82 National Australia Bank has warned bad debts will rise amid "testing times" in 2009 and dividend levels cannot be guaranteed.
JHX - JAMES HARDIE INDUSTRIES LTD - down 30 cents to $4.15 Former James Hardie chair Meredith Hellicar says she was not satisfied the building products company could meet all future asbestos compensation liabilities when it set up a compensation fund in 2001.
IAG - INSURANCE AUSTRALIA GROUP LTD - up ten cents at $4.10 Australia's biggest general insurer, Insurance Australia Group, has agreed to sell its mass market distribution business in the UK for STG73.5 million ($A162 million), to allow it to concentrate on profitable units there.
AGK - AGL ENERGY LTD - up five cents to $15.00 AGL Energy has upgraded its net profit guidance for the 2009 financial year following share and asset sales.
AAP lxs/pe
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© 2004 Merlea Investments
The use of this website and the services provided by Merlea Investments
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