Stocks to watch at close on Friday
Market watch top headlines
Stocks to watch on the Australian stock exchange at the close of trade on Friday:
ALZ - AUSTRALAND - up 11 cents or 3.44 per cent to $3.31
GPT - GPT GROUP - down four cents or 1.1 per cent to $3.56
Australand has rejected an offer from fellow property company GPT Group for its commercial and industrial and investment property portfolio.
APN - APN NEWS AND MEDIA - down five cents or 15.87 per cent to 26.5 cents
Shares in troubled APN News & Media have dived after the company warned of a dramatic slump in full year earnings.
CTX - CALTEX AUSTRALIA LTD - up 27 cents, or 1.43 per cent, at $19.20
Caltex Australia has pleased the market by forecasting a return to full-year profit in 2012 but a slowdown in its marketing business has raised concerns.
IAG - INSURANCE AUSTRALIA GROUP - down nine cents or 1.87 per cent to $4.72
Shares in Insurance Australia Group have fallen after it finalised the sale of its ailing UK assets for a loss of $240 million.
MAH - MACMAHON HOLDINGS - down 0.8 cents, or 3.6 per cent, at 21.5 cents
Macmahon Holdings' shares have fallen after an $80.7 million capital raising and sale of its construction business was announced.
QAN - QANTAS AIRWAYS - down one cent, or 0.7 per cent, at $1.395
The competition watchdog has approved plans by Qantas to more closely integrate its operations with that of its low-cost airline Jetstar.
WHC - WHITEHAVEN COAL - down five cents or 1.55 per cent to $3.18
A damaged rail line from Whitehaven Coal's Narrabri mine in north west NSW will re-open five days earlier than expected.