Stocks to watch on the Australian stock exchange at close on Friday:
CBA - COMMONWEALTH BANK OF AUSTRALIA - down 59 cents at $48.72
Commonwealth Bank of Australia has cut interest rates on some fixed rate home loans by up to 0.4 percentage points.
CSS - CLEAN SEAS TUNA LTD - up 0.5 cents at 3.5 cents
A mystery illness causing the death of its Yellowtail Kingfish will add at least $17.5 million to Clean Seas Tuna's full year loss.
EHL - EMECO HOLDINGS LTD - up two cents at 86.5 cents
Earthmoving equipment supplier Emeco has forecast full year profit growth of up to 41 per cent due to strong demand in Australia, Canada in Indonesia.
EKA - EUREKA ENERGY LTD - down 0.5 cents at 47 cents
AUT - AURORA OIL & GAS NL - down six cents at $3.20
Takeover target Eureka Energy has shrugged off criticism about its new $50 million debt facility after suitor Aurora Oil & Gas threatened to withdraw its offer.
HST - HASTIE GROUP LTD - in trading halt, last traded at 16 cents
Electrical and refrigeration company Hastie Group will take a $20 million hit to its full year profit after discovering "deliberate" irregularities in its financial accounts.
LEI - LEIGHTON HOLDINGS LTD - down 41 cents at $17.45
A Leighton Holdings company will build two large-scale "energy-efficient" data centres in NSW under a $182 million contract with the state government.
SGM - SIMS METAL MANAGEMENT LTD - down 75 cents at $11.50
Shares in Sims Metal Management have dropped six per cent in early trade after the scrap metal recycler warned of a weaker profit this financial year.
Swiss Stocks Rise, Monti Says Most Leaders Pro Euro Bonds - Bloomberg
Swiss stocks rose, as the benchmark Swiss Market Index (SMI) headed for its first weekly advance in a month, as Italy’s Prime Minister Mario Monti said that most European Union leaders support joint bonds for the euro area.
The Swiss Market Index gained 0.4 percent to 5,876.98 at 11:07 a.m. in Zurich, bringing this week’s increase to 1.4 percent. The gauge has still retreated 1 percent this year amid concern Greece may fail to implement austerity measures and leave the euro currency union. The broader Swiss Performance Index also climbed 0.4 percent today.
The volume of shares changing hands in SMI-listed companies was 9.9 percent lower than the average of the last 30 days, according to data compiled by Bloomberg.
Monti told Italian television station La7 yesterday that the majority of EU leaders at a Brussels meeting this week backed joint euro-area bonds. He added that Italy can help persuade Germany to support Europe’s “common good” as well.
“Europe can have euro bonds soon,” Monti said. Germany has an interest in ensuring no country leaves the euro, while Greece will probably remain in the 17-nation currency, he said in the interview.
Monti’s comments followed a meeting on May 23 when leaders clashed over joint debt sales as they called on Greece to stick with budget cuts needed to stay in the euro.
Swiss Re Ltd., the biggest Swiss reinsurer, rose 1.4 percent to 55.55 francs as insurance companies rose the most of any industry group in the Stoxx Europe 600 Index. (SXXP)
Julius Baer Group Ltd. (BAER), the Swiss wealth manager founded in 1890, added 0.3 percent to 31.17 francs. Berenberg Bank began coverage of the stock advising clients of buying the stock and set a target estimate of 35.90 francs.
To contact the reporter on this story: Peter Levring in Copenhagen at plevring1@bloomberg.net
To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net
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