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Monday 21

May, 2018 9:39 AM



Stocks to watch

Stocks to watch

Stocks of interest on the Australian share market.

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By AAP 11.05.2018 04:37 PM

Stocks to watch on the Australian stock exchange:

AMP - AMP LTD - down 23 cents, or 5.8 per cent, at $3.73

Macquarie Bank has downgraded AMP's stock rating to neutral from outperform, and predicted $35 billion in investor outflows, following revelations of board-level misconduct at the banking royal commission.

CTX - CALTEX AUSTRALIA - up 57 cents, or 1.9 per cent, at $30.45

Service station group Caltex says it has made $172 million in first-quarter profit after tax, up from $161 million in the same period a year ago.

GNC - GRAINCORP - down 8.0 cents, or 1.0 per cent, at $7.74

Graincorp's half-year profit has fallen 60 per cent to $36.1 million after the big dry in Queensland and northern NSW significantly reduced harvest.

NWS - NEWS CORP - up 18 cents, or 0.8 per cent, at $22.50

News Corp has posted a third-quarter net loss of $US1.1 billion ($A1.45b), mainly due to it revaluing Foxtel and Fox Sports Australia.

ORA - ORORA LTD - up 2.0 cents, or 0.6 per cent, at $3.38

Paper and packaging company Orora says it expects to deliver higher earnings for the full year, thanks to solid US business conditions and US corporate tax cuts.

PPT - PERPETUAL - up $1.58, or 3.9 per cent, at $42.09

Perpetual has appointed Rob Adams as its new chief executive and managing director. Mr Adams will take over in September from Geoff Lloyd who leaves the company at the end of June.

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