Stocks to watch on the Australian stock exchange:
DOW – DOWNER EDI – in a trading halt at $7.42
SPO – SPOTLESS GROUP – up 33 cents, or 45.5 per cent, at $1.055
Infrastructure and mining services company Downer EDI has lodged a $1.26 billion takeover offer for cleaning and catering company Spotless Group.
HVN – HARVEY NORMAN – up 15.5 cents, or 3.6 per cent, at $4.515
Harvey Norman has rejected a report that the corporate watchdog is reviewing how the retailer reports its exposure to losses made by its franchisees.
KMD – KATHMANDU – up 0.5 cents, or 0.3 per cent, at $1.78
Adventure equipment retailer Kathmandu has boosted first-half profit 6.4 per cent to $NZ10 million ($A9.1 million) following healthy sales growth in Australia and online.
PMV – PREMIER INVESTMENTS – up 4 cents, or 0.3 per cent, at $13.76
The retail group’s half year net profit was relatively steady at $72 million, as Smiggle and Peter Alexander continued to post sales growth.
TPM – TPG TELECOM – up 38 cents, or 5.7 per cent, at $7.00
Internet provider TPG Telecom has delivered strong interim financial results – thanks largely to the contribution of its iiNet operations – and has reaffirmed its underlying earnings guidance for the year.
Originally published as Stocks to watch