Wednesday, March 21, 2012

Australian stock to watch closed march 21 2012

Australian stock to watch closed march 21 2012 : A slow, lackadaisical trading is anticipated on Wednesday's Australian stock market as a grueling impact of low commodity exports further hammered down potential export earnings in correlation with China's weakening demand.

Analysts said, although the situation has been there for months, it is only now that the miners have acknowledged the fact that a single-digit export growth for the commodities sector could indeed hamper earnings this year.

Stocks to watch on the Australian stock exchange at close on Wednesday :

up six cents at $7.03
Packaging maker Amcor has paid $19.8 million for a flexible packaging business in India.

DJS - DAVID JONES LTD - down 30 cents at $2.43
David Jones says first half profit fell 19.6 per cent but it has forecast a 35 to 40 per cent fall in profit in fiscal 2012.

FMG - FORTESCUE METALS GROUP LTD - up 14 cents at $6.06
Campbell Newman has refused to say if a Liberal National Party (LNP) government will back a possible High Court challenge to the federal government's mining tax.

- up 0.7 cents at 4.9 cents
The former head of Vodafone in Japan and the United Kingdom has been appointed chief executive of Vodafone Hutchison Australia (VHA).

- down 24 cents at $1.25
Kathmandu shares have fallen sharply at the open after the outdoor equipment and clothing retailer reported a big fall in first half profit.

ORL - OROTONGROUP LTD - down 32 cents at $8.70
Fashion retailer Oroton Group has defied the retail sector's gloom and lifted its first half profit by four per cent.

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