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Stocks to watch at close on Friday

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Stocks to watch




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.