Finance Finance News Stocks to watch on Monday

Stocks to watch on Monday

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Stocks to watch on the Australian stock exchange on Monday, Oct 28:

AIO – ASCIANO – down 31 cents, or 5.0 per cent, at $5.90

Ports and rail operator Asciano says there is no evidence that reported lifts in consumer and business confidence are translating into greater economic activity.

AMP – AMP – down 14 cents, or 2.8 per cent, at $4.80

Superannuation and insurance firm AMP expects earnings to take a hit of up to $65 million in the final quarter of 2013 due to the poor performance of its wealth protection business.

BCI – BC IRON – up 8.0 cents, or 1.6 per cent, at $4.95

BC Iron has recorded a boost to quarterly production as its Nullagine mine operates at its forecast rate of 6.5 million tonnes per annum.

FMG – FORTESCUE METALS GROUP – down 9.0 cents, or 1.7 per cent, at $5.21

Fortescue Metals’ accommodation village at the Cloudbreak iron ore mine in Western Australia’s Pilbara region has been evacuated due to a bushfire caused by lightning.

PPX – PAPERLINX – up 0.2 cents, or 3.6 per cent, at 5.7 cents

Paper merchant PaperlinX says it isn’t the company it was 12 months ago, but it still has much to do to improve its performance.

RMD – RESMED – down 49 cents, or 8.3 per cent, at $5.41

Sleep disorder equipment supplier ResMed’s quarterly income is up 14 per cent with encouraging sales of new products.

TSE – TRANSFIELD SERVICES – up 4.5 cents, or 3.1 per cent, at $1.515

Construction and maintenance group Transfield Services remains confident of hitting its profit target as it continues to cut costs and reduce debt.

WCB – WARRNAMBOOL CHEESE AND BUTTER – up 27 cents, or 3.3 per cent, at $8.42

BGA – BEGA CHEESE – up 5.0 cents, or 1.3 per cent, at $4.00

Canadian diary giant Saputo has increased its offer for Warrnambool Cheese and Butter to $449 million, insisting its takeover of the local company would not reduce competition.

WHC – WHITEHAVEN COAL – up 3.5 cents, or 2.0 per cent, at $1.77

Whitehaven Coal says it is seeing a recovery in long-depressed prices, after achieving record quarterly output.