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Stocks to watch at close on Wednesday

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Stocks to watch

CSL, MEL, PRY, QAN, RIO, SUN, STO, WPL, OSH, ORG,

AAP

2013-01-16

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

BBG - BILLABONG INTERNATIONAL LTD - down 1.5 cents, or 1.5 per cent at 96.5 cents

Billabong shares were lower on Wednesday, just a day after the stock rallied 16 per cent as traders braced for a potential bidding war for the embattled surfwear company.

BLD - BORAL LTD - up 44 cents, or 10 per cent, at $4.80

Building products maker Boral will cut 700 people from its workforce, with most of the reduction coming from its head office is in Sydney.

FMG - FORTESCUE METALS GROUP - down seven cents, or 1.5 per cent, at $4.57

Rising iron ore prices could be behind Fortescue Metals' decision to walk away from a deal to invest in a small unconventional gas exploration company in Western Australia.

NAM - NAMOI COTTON CO-OP - up six cents, or 25 per cent, at 30 cents

Shares in Namoi Cotton have soared after it agreed to partner with global commodities company Louis Dreyfus in a deal that will deliver it more than $34 million.

QAN - QANTAS AIRWAYS LTD - up one cent, or 0.65 per cent, at $1.54

Qantas says there is no change to its order of 15 Boeing 787 aircraft, after All Nippon Airways (ANA) and Japan Airlines (JAL) grounded all their Dreamliners following a series of incidents in recent days.

RIO - RIO TINTO LTD - down 35 cents, or 0.53 per cent, at $65.55

Rio Tinto has signalled predictions of falls in iron ore prices hold no fear for it as it posted record annual production and said its massive expansion plans are on track.

WPL - WOODSIDE PETROLEUM LTD - up three cents to $35.20

Federal and state authorities would be "nuts" to allow Woodside to replace the $40 billion gas hub proposed for James Price Point with a floating processing plant, Western Australia's Premier Colin Barnett has said.