Stocks to watch on Monday

STOCKS to watch on the Australian stock exchange on Monday, April 29

GNC - GRAINCORP LTD - up 94 cents, or 7.9 per cent, at $12.81

GrainCorp shares are up almost eight per cent after the company announced it will recommend its shareholders accept the latest takeover offer by US food processing giant Archer Daniels Midland.

LEI - LEIGHTON HOLDINGS GROUP - up 16 cents at $20.01

The John Holland Group will rebuild Brisbane's iconic RiverWalk after winning the $72 million government contract.

RMD - RESMED INC - down four cents at $4.46

After posting record quarterly revenue, the founder of sleep disorder equipment supplier ResMed says the business has the capacity to grow even further as it provides the holy grail of healthcare.

WDC - WESTFIELD GROUP - down 20 cents at $11.59

Westfield Group's board is to be shaken up, with directors Stephen Johns and Fred Hilmer stepping down at next month's annual general meeting. (WESTFIELD on file)

AAP cdh

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US stocks bounce back after Monday losses

US stocks have rallied strongly in opening trade, recovering some of their losses from a prior session marred by the deadly Boston explosions.

Five minutes into trade, the Dow Jones Industrial Average jumped 96.60 (0.66 per cent) to 14,695.80.

The broad-based S&P 500 increased 10.37 (0.67 per cent) to 1,562.73, while the tech-rich Nasdaq Composite Index rose 21.15 (0.66 per cent) to 3,237.64.

The rally partially reversed Monday's losses, when the deadly explosions at the Boston Marathon pushed down a market that had already been in the red after a commodity sell-off in the face of weak Chinese and US economic data.

Fresh March data showed that US housing starts jumped 7.0 per cent from February and were up 46.7 per cent from a year ago, while consumer prices fell 0.2 per cent mainly due to a sharp drop in gasoline prices.

Solid earnings reports from Goldman Sachs, Coca-Cola and Johnson & Johnson also propelled stocks higher.

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Stocks to watch at close on Monday

STOCKS to watch on the Australian stock exchange at close on Monday:

BHP - BHP BILLITON LTD - down three cents at $33.40

WPL - WOODSIDE PETROLEUM LTD - down eight cents at $36.86

Australia's energy players are looking at offshore gas processing to ensure resources such as the Browse and Scarborough fields are exploited in the near future.

DLX - DULUXGROUP - down eight cents at $4.44

Paint maker DuluxGroup may save twice as much as originally expected from its takeover of building products and garage door supplier Alesco.

FUN - FUNTASTIC - steady at 23.5 cents

Funtastic is pinning its hopes on a slushy cup as the toy distributor shrugged off tough trading conditions to deliver a 68 per cent leap in first half profit.

LEI - LEIGHTON HOLDINGS - up 87 cents at $21.07

Leighton has elevated Bob Humphris to chairman as the construction giant seeks to quickly put the sudden resignations of three directors behind it.

WDC - WESTFIELD GROUP - up 18 cents at $10.94

Shopping centre developer Westfield Group will sell a 49.9 per cent stake in six shopping malls in Florida to O'Connor Capital Partners for $US700 million.

WPL - WOODSIDE PETROLEUM LTD - down eight cents at $36.86

Gary Gray says there's no conflict between his new job as federal resources minister and his old job with oil and gas giant Woodside.

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Stocks to watch at noon on Monday

STOCKS to watch on the Australian stock exchange at noon on Monday:

CTX - CALTEX AUSTRALIA LTD - up 48.5 cents, or 2.66 per cent, at $18.725

Caltex Australia has returned to profitability as its refining businesses showed the results of recent structural changes.

QAN - Qantas airways ltd - steady at $1.63

Qantas director Corrine Namblard has resigned from the airline's board after becoming caught up in an Italian corruption investigation.

PFL - PATTIES FOODS LTD - down 11 cents, or 6.47 per cent, at $1.59

Pie maker Patties Foods has posted a 16.5 per cent fall in first half profits as its margins are impacted by increased competition.

TEN - TEN NETWORK HOLDINGS LTD - up two cents, or 6.78 per cent, at 31.5 cents

Ten Network Holdings shares are up in early trade as market players express hope that new management may improve the struggling free-to-air broadcaster's performance.

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