Stocks to watch on Tuesday
Market watch top headlines
February 05 2013, 06:59AM
Stocks to watch on the Australian stock exchange Tuesday, Feb 5, 2013
AQA - AQUILA RESOURCES LTD - down 12 cents at $3.00
News that Aquila Resources has been unable to agree on a budget for its $7.4 billion West Pilbara Iron Ore Project has driven the iron ore hopeful's shares lower.
ARG - ARGO INVESTMENTS LTD - down six cents at $6.65
Investment company Argo Investments says the best rise in share prices may have already occurred as Australian companies will generate only modest earnings growth over the next 12 months
BLK - BLACKHAM RESOURCES LTD - up 10 cents at 25 cents
Shares in junior gold explorer Blackham Resources surged almost 70 per cent after the company appointed Joseph Gutnick as its chairman and announced a $13 million funding deal.
Shares in th
FMG - FORTESCUE METALS GROUP LTD - steady at $4.79
Fortescue Metals has agreed to stop work on the development of Iron Ore Holding's Iron Valley deposit in Western Australia.
GMG - GOODMAN GROUP - down two cents at $4.62
Property developer Goodman Group says it will start developing new projects worth about $451 million across key Australian markets.
QAN - QANTAS AIRWAYS LTD - steady at $1.54
Qantas is taking advantage of the growing Asian market, with plans for new routes to China and India plus extra flights to key regional hubs.
RIO - RIO TINTO LTD - up 79 cents at $67.99
The world's second largest iron ore miner Rio Tinto's $3 billion expansion of a Pilbara mine has been approved by the West Australian government.
SDL - SUNDANCE RESOURCES LTD - in trading halt, last traded at 34 cents
Sundance Resources expects suitor Hanlong Group to finalise its $1.3 billion takeover by June 7 in the wake of ongoing delays as it seeks provisional approval from Chinese regulators.