Stocks to watch at close on Tuesday

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

BLY - BOART LONGYEAR LTD - down three cents at 88.5 cents

Mineral drilling services and products supplier Boart Longyear has named Jay Clement as its acting chief financial officer.

IFZ - INFRATIL LTD - up 25 cents at $2.15

Infratil, which is mulling the float of its Z Energy chain of petrol stations, reported a drop in full-year profit after writing down the value of its UK airports and recognising accounting charges.

MAH - MACMAHON HOLDINGS LTD - up 4.5 cents at 22 cents

Mining services provider Macmahon Holdings' shares have shot up by more than 20 per cent after it detailed positive growth in a "changing and challenging environment".

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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)

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Stocks to watch at noon on Friday

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

GNC - GRAINCORP LTD - up 97 cents, or 8.17 per cent, at $12.84

GrainCorp shares are up 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 one cent, or 0.05 per cent, at $19.86

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

RMD - RESMED INC - down five cents, or 1.11 per cent, at $4.45

Sleep disorder equipment supplier ResMed has posted record revenue and income for the March quarter.

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IMF warns central banks to watch inflation

THE International Monetary Fund has warned central banks to keep an eye on inflation and resist political pressure to focus policy only on lowering unemployment.

With many governments desperate to find ways to generate jobs, the IMF said on Tuesday, it was ever more important for central banks to assert their independence to keep an eye on all potential problems in the economy - whether growth, prices, or jobs.

"In the wake of the Great Recession, there is political urgency to reduce unemployment," the IMF said in a section of its World Economic Outlook.

"Instead, what our analysis underscores is that, whatever the source, limits on central banks' independence and operational restrictions that limit their flexibility in responding to evolving challenges can cause problems and must be avoided."

While the IMF played down the immediate threat of a surge in inflation, many economists remain concerned that the exceptionally loose monetary policies pursued by major central banks will eventually spark runaway price increases.

In the four years since the global financial crisis, advanced economies have unloaded massive monetary firepower to try to jump-start growth and create jobs.

The US Federal Reserve and the Bank of England have employed large bond-purchase programs, or quantitative easing (QE), while the European Central Bank has focused on lending.

Last week, the Bank of Japan announced an aggressive QE program and monetary policy to tackle deflation and end decades of tepid growth.

So far the wave of easy money has not yet unhinged widespread expectations that prices will remain tame amid weak growth.

The IMF noted broad evidence that, since the mid-1990s, inflation has become "better anchored around long-term expectations, which themselves have become more stable."

But the IMF said the nature of inflation in advanced economies had changed since the 1970s.

In the past, inflation rose as unemployment fell, an inverse relationship known as the Phillips curve.

That relationship has flattened out, according to IMF analysts, and they now warn that inflation can suddenly pick up without an improvement in joblessness if other aspects of the situation change - particularly market and consumer expectations about inflation.

"The greatest risk for inflation, just as in the 1970s, is the possibility that expectations will become disanchored," the IMF said.

That underscores the need for central bankers currently pumping up their economies with easy money to not take their eyes off the threat of inflation.

"Central banks are already making use of whatever flexibility they have in responding to the unprecedented circumstances following the Great Recession," the international lender said.

"However, changes in the behaviour of inflation and profound challenges in the aftermath of the Great Recession may mean there is need for even greater flexibility."

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Stocks to watch at noon on Tuesday

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

CCV- CASH CONVERTERS - up 2.5 cents, or 1.9 per cent to $1.34

Cash Converters has obtained $60 million from Westpac Bank that the second hand dealer and short-term loan provider will use to grow its personal loan book.

KMD - KATHMANDU - down one cent or 0.5 per cent to $1.96

Kathmandu has defied difficult retail conditions to post a hefty rise in first half profit as new stores performed well and online sales grew.

SDL - SUNDANCE RESOURCES - in a trading halt, last traded at 21 cents

Sundance Resources says suitor Hanlong will not be able to meet its financial deadline for its $1.3 billion takeover of the Africa-focused iron ore hopeful.

UGL - UGL - up 83 cents, or 8.8 per cent to $10.26

MELBOURNE - Engineering and property services provider UGL is reviewing its corporate structure now that the property business generates nearly 50 per cent of group earnings.

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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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Fitch places UK rating on negative watch

Fitch has placed Britain's credit rating on watch for a possible downgrade, the ratings agency says. Source: AAP

FITCH says it has placed Britain's top-level AAA credit rating on watch for possible downgrade because the government's latest forecasts expect debt to peak later and at a higher level than previously expected.

"Fitch Ratings has placed the United Kingdom's 'AAA' Long-term Issuer Default Ratings on rating watch negative (RWN) indicating a heightened probability of a downgrade in the near term," it said in a statement.

The ratings agency said it plans to complete its review of Britain by the end of April.

The news came one month after rival agency Moody's stripped Britain of a triple-A debt rating, saying government debt was still mounting and that growth was too weak to reverse the trend before 2016.

Fitch said "the RWN reflects the latest economic and fiscal forecasts published by the Office for Budget Responsibility that indicate that UK government debt will peak later and at a higher level than previously expected".

Gross government debt is now forecast to peak in 2016-17 at 100.8 per cent of gross domestic product before starting to decline.

Earlier this week, on Wednesday, British finance minister George Osborne unveiled another painful austerity budget that also slashed economic growth forecasts and raised borrowing estimates.

The economy is now expected to grow by just 0.6 per cent in 2013, compared with previous guidance of a 1.2-per cent expansion, according to the OBR.

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Stocks to watch at close on Thursday

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

BBG - BILLABONG INTERNATIONAL LTD - in a trading halt, last traded at 69.5 cents.

Billabong shares have been placed in a trading halt while the retailer investigates why its shares have plummeted by more than 20 per cent.

BKW - BRICKWORKS LTD - up 33 cents at $12.88

Building materials group Brickworks has vowed not to waste any more time reviewing its long-standing cross-shareholding with investment vehicle Washington H Soul Pattinson.

CBA - COMMONWEALTH BANK OF AUSTRALIA - down 51 cents at $68.65

Commonwealth Bank is free to seize control of independent mortgage provider Aussie Home Loans after the competition watchdog gave its blessing to the deal.

CSS - CLEAN SEAS TUNA LTD - down 0.9 cents at 1.9 cents

Struggling aquaculture business Clean Seas Tuna is moving to raise $3.6 million to drive its South Australian yellowtail kingfish operations.

ORL - OROTON GROUP LTD - down 18 cents at $7.41

Oroton is on the look out for acquisitions to add to its stable of luxury fashion and accessories lines.

PMV - PREMIER INVESTMENTS LTD - up 16 cents at $7.86

SOL - WASHINGTON H SOUL PATTINSON & COMPANY LTD - up 12 cents at $14.00

Premier Investments, the retailer behind brands including Just Jeans and Portmans, has brushed off the retail gloom and lifted its first half profit by 21 per cent.

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Stocks to watch at noon on Friday

US stocks have moved higher after jobless claims declined for the third straight week.

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

AAC - AUSTRALIAN AGRICULTURAL COMPANY - flat at $1.25

Australian cattle numbers have grown substantially, partly as a result of the federal government's temporary suspension of live cattle exports to Indonesia in mid-2011, says beef producer Australian Agricultural Company (AACo).

LEI - LEIGHTON HOLDINGS - up 42 cents, or 1.9 per cent, at $22.11

Visionstream Australia Pty Ltd (Visionstream), part of Leighton Contractors, has been awarded a $334 million contract for the roll out of the National Broadband Network in Victoria, Queensland and southern New South Wales.

WBC - WESTPAC BANKING CORPORATION - up 59 cents, or 1.9 per cent, at $30.72

MELBOURNE - A consortium of 20 banks, including Westpac, involved in Australia's most expensive and longest-running court case have won the right to take their battle to the High Court.

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Stocks to watch on Friday

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

ANZ - AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD - down 21 cents, or 0.72 per cent, at $28.80

CBA - COMMONWEALTH BANK OF AUSTRALIA - down 14 cents, or 0.2 per cent, at $69.54

NAB - NATIONAL AUSTRALIA BANK LTD - down 8.0 cents, or 0.26 per cent, at $30.98

WBC - WESTPAC BANKING CORPORATION - down 13 cents, or 0.42 per cent, at $31.16

Banks have rejected calls for a new tax on the industry, saying the move would hurt retirees and small businesses.

LEI - LEIGHTON HOLDINGS LTD - down 28 cents, or 1.3 per cent, at $21.69

Leighton Holdings' contract and project development subsidiary has snared a $120 million deal to work on a major rail extension in Sydney.

VAH - VIRGIN AUSTRALIA HOLDINGS LTD - flat at 41 cents

The competition watchdog has delayed its decision on Virgin Australia's proposed takeover of Tiger Airways Australia.

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Stocks to watch at noon on Tuesday

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

ALZ - AUSTRALAND PROPERTY GROUP - up five cents, or 1.46 per cent, at $3.47

Property developer Australand has confirmed several companies are interested in buying all or part of its business.

DLX - DULUXGROUP LTD - up 5.5 cents, or 1.34 per cent, at $4.145

TLS - TELSTRA CORPORATION - up six cents, or 1.33 per cent, at $4.58

TOL - TOLL HOLDINGS LTD - up 16.5 cents, or 2.80 per cent, at $6.605

Alesco Corp has lost its legal challenge over a dispute with New Zealand's Inland Revenue which could pave the way for the taxman to seek $NZ300 million ($A245.82 million) in unpaid tax from other Australian companies.

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Stocks to watch at noon on Thursday

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

CGF - CHALLENGER LTD - up one cent, or 0.28 per cent, at $3.63

Retirement funder Challenger has lifted earnings as more people seek secure retirement income.

HVN - HARVEY NORMAN HOLDINGS LTD - up 0.5 cents, or 0.22 per cent, at $2.285

Harvey Norman is expected to post its first half results on Thursday.

LLC - LEND LEASE GROUP - up 11.5 cents, or 1.08 per cent, at $10.775

Construction and development firm Lend Lease has sold its 30 aged care homes to a private equity firm for $270 million.

NZO - NEW ZEALAND OIL & GAS LTD - in trading halt, last traded at 76.5 cents

New Zealand Oil & Gas has asked to be placed in a trading halt for around four hours on the New Zealand and Australian stock exchanges, pending "a material announcement regarding how NZOG progresses with a material asset".

PPT - PERPETUAL LTD - up $2.10, or 5.32 per cent, at $41.72

Fund manager Perpetual's first half profit has grown by 19 per cent as it continues to cut costs.

TWE - TREASURY WINE ESTATES LTD - up 27 cents, or 5.51 per cent, at $5.17

Winemaker Treasury Wine Estates (TWE) has urged the federal and state governments to provide more support for the Australian wine sector as it battles the high value of the Australian dollar.

WOW - WOOLWORTHS LTD - up 44 cents, or 1.29 per cent, at $34.45

Woolworths' first half profit has grown to $1.15 billion as earnings from its supermarkets rose by six per cent.

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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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Stocks to watch at noon on Friday

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

BBG - BILLABONG INTERNATIONAL LTD - down 2.5 cents, or 2.75 per cent, at 88.5 cents

Shares in Billabong have fallen back toward their all-time low after the surfwear retailer suffered a $537 million first half loss.

CWN - CROWN LTD - up 15 cents, or 1.30 per cent, at $11.70

James Packer's casino operator Crown has posted a 34 per cent drop in first half profit, as weak consumer sentiment and refurbishment work affected its business.

FDC - FEDERATION CENTRES - up two cents, or 0.85 per cent, at $2.38

Federation Centres posts a $115.9 million first half net profit, compared with a $100.1 million loss in the prior corresponding period.

SGM - SIMS METAL MANAGEMENT LTD - up 33 cents, or 3.09 per cent, at $11.00

Scrap metal recycler Sims Metal Management has posted another first half loss due to lower volumes and metal prices.

STO - SANTOS LTD - up 23 cents, or 1.93 per cent, at $12.13

Santos' full year net profit has dropped by nearly a third but the oil and gas producer still expects to meet its production targets in 2013.

TPI - TRANSPACIFIC INDUSTRIES GROUP LTD - up 8.5 cents, or 10.69 per cent, at 88 cents

Transpacific Industries has posted a strong rise in first half profit to $32.3 million but says more needs to be done to improve its waste management business.

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Stocks to watch at noon on Thursday

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

AAD - ARDENT LEISURE GROUP - down nine cents, or 5.66 per cent, at $1.50

Ardent Leisure has boosted its half year profit by 11 per cent, largely thanks to its newly-acquired health clubs and entertainment centres in the US.

ABC - ADELAIDE BRIGHTON LTD - up nine cents, or 2.74 per cent, at $3.37

Construction materials maker Adelaide Brighton has built a full year profit increase despite weak home building activity, but the carbon tax is causing concern.

AMP - AMP LTD - up seven cents, or 1.29 per cent, at $5.51

Financial services firm AMP has lifted its annual profit by two per cent as it continues to benefit from its merger with AXA Asia Pacific.

APN - APN NEWS & MEDIA LTD - up one cent, or 3.70 per cent, at 28 cents

Troubled newspaper publisher APN News and Media has fallen to a $455.8 million full year loss.

ASX - ASX LTD - down 52 cents, or 1.40 per cent, at $36.50

Share market operator ASX's first half profit has fallen by 2.5 per cent due to lower investor activity in the first three months of the 2012/13 financial year.

AWC - ALUMINA LTD - down one cent, or 0.80 per cent, at $1.24

Alumina's full year net losses have blown out and the troubled aluminium producer is bracing itself for more uncertainty ahead.

BXB - BRAMBLES INDUSTRIES LTD - up 13 cents, or 1.53 per cent, at $8.64

Pallet supplier Brambles has lifted its first half profit by 26 per cent due to expansion in developed and emerging markets.

EGP - ECHO ENTERTAINMENT GROUP LTD - up two cents, or 0.57 per cent, at $3.50

Casino operator Echo Entertainment's first half profit has slipped five per cent and revenues are down so far in the second half of the financial year.

FXJ - FAIRFAX MEDIA LTD - down 1.25 cents, or 2.29 per cent, at 53.25

Embattled media group Fairfax says gloomy conditions in the advertising market are still dragging on its revenues.

IAG - INSURANCE AUSTRALIA GROUP LTD - up 15 cents, or 2.77 per cent, at $5.57

Insurance Australia Group's (IAG) first half profit has more than tripled and the company has raised its performance targets for the full year.

ILU - ILUKA RESOURCES LTD - up 34 cents, or 3.28 per cent, at $10.69

Mineral sands miner Iluka will axe 200 jobs as it seeks to rein in costs after reporting a 33 per cent slide in full year profit.

ORG - ORIGIN ENERGY LTD - down $1.11, or 8.97 per cent, at $11.27

Energy producer and retailer Origin Energy fears its full year earnings will drop by up to 15 per cent after its interim profit fell by a third.

PPX - PAPERLINX LTD - down 0.6 cents, or 6.19 per cent, at 9.1 cents

Stationery company Paperlinx has announced a first half loss of $57.3 million due to weak market conditions.

QAN - QANTAS AIRWAYS LTD - up 8.5 cents, or 5.26 per cent, at $1.70

Qantas Airways shares have risen after the airline reported a hefty lift in first half net profit and an improved performance at its struggling international division.

SEPARATELY: Qantas says one of its board members denies any wrongdoing after reports she has been caught up in a corruption investigation into an Italian bank.

SEPARATELY: Sydney should have a second airport by 2030 and the best location is Badgerys Creek, Qantas Airways chief executive Alan Joyce says.

TLS - TELSTRA CORPORATION - steady at $4.56

Telstra is axing 648 jobs from its troubled Sensis division, which runs Yellow Pages, White Pages and Trading Post.

TTS - TATTS GROUP LTD - up four cents, or 1.21 per cent, at $3.35

Lotteries and wagering operator Tatts Group says it has had a positive start to the second half of the 2012/13 financial year.

VRL - VILLAGE ROADSHOW LTD - steady at $4.52

Village Roadshow says it's cashing in on people's willingness to indulge in a little pleasure, after posting an 18 per cent lift in half year profit.

WHC - WHITEHAVEN COAL LTD - down 13 cents, or 4.31 per cent, at $2.995

Coal miner Whitehaven has named the former head of Nathan Tinkler's private company as its new chief executive.

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Stocks to watch at noon on Wednesday

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

AZJ - AURIZON HOLDINGS LTD - down 23.5 cents, or 5.58 per cent, at $3.975

Rail operator Aurizon faces multi-million dollars worth of costs from disruptions caused by the Queensland floods.

The group gave the warning on Wednesday as it reported a 10.3 per cent drop in first half profit.

BCS - BRISCONNECTIONS UNIT TRUSTS - last traded at 40 cents

The collapse of the company behind Brisbane's Airport Link toll road is the biggest construction project disaster in recent history, the Australian Shareholders Association says.

BHP - BHP BILLITON LTD - down 47.5 cents, or 1.22 per cent, at $38.525

BHP Billiton chief executive Marius Kloppers is stepping down after nearly six years as head of the global mining giant.

SEPARATELY: Scottish-born Andrew Mackenzie had an impressive academic career before rising to be the new chief executive of one of the world's largest resources company.

SEK - SEEK LTD - up 46 cents, or 5.24 per cent, at $9.23

Seek says it will rely on growth in its overseas businesses to make up for an expected shortfall in revenue from Australia, amid fears the local jobless rate will continue to rise.

SUL - SUPER RETAIL GROUP LTD - up 11 cents, or 1.03 per cent, at $10.75

Leisure and sports retailer Super Retail Group has increased its first half profit by 73.5 per cent due to its leading market position.

SUN - SUNCORP GROUP LTD - down 50.5 cents, or 4.33 per cent, at $11.165

Suncorp Group's first half profit has grown by 48 per cent due to lower insurance claims and stronger financial markets in the six months to the end of December.

SWM - SEVEN WEST MEDIA LTD - down 18 cents, or 7.14 per cent, at $2.34

Seven West Media shares have fallen more than seven per cent after the company said it had made a first half loss due to writedowns on its magazine and online properties amid a challenging advertising environment.

TLS - TELSTRA CORPORATION - down 1.5 cents, or 0.32 per cent, at $4.615

Australia's largest telco has unveiled plans to try and cope with the nation's rapidly growing love affair with mobile internet usage.

TOL - TOLL HOLDINGS LTD - up 23 cents, or 4.08 per cent, at $5.86

Transport and logistics group Toll Holdings has lifted its first half profit by more than 20 per cent and expects stronger earnings for the rest of the year.

WPL - WOODSIDE PETROLEUM LTD - up $1.19, or 3.14 per cent, at $39.10

Woodside Petroleum has lifted its full year net profit by 98 per cent and says it is on track to lift oil production this year.

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