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Monday 17

December, 2018 8:12 AM



Stocks to watch

Stocks to watch

Stocks of interest at the close of trade on the ASX on Monday, December 3.

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By AAP 03.12.2018 04:35 PM

Stocks of interest at the close of trade on the ASX on Monday, December 3:

MTS - METCASH LIMITED - down 14 cents, or 5.1 per cent, to $2.63

Metcash shares stumbled after the wholesaler lifted its first-half profit three per cent to $95.8 million but flagged more tough times for supermarkets and the likely impact on its hardware business of a slowing property market.

TRS - THE REJECT SHOP - down seven cents, or 2.4 per cent, to $2.63

The Reject Shop chairman Bill Stevens has urged shareholders to reject a $78 million takeover bid, accusing the Geminder family of trying to get the retailer "on the cheap".

BSL - SBLUESCOPE STEEL - up $1.32, or 11.8 per cent, to $12.55

BlueScope shares jumped as much as 13.5 per cent after the steelmaker launched a new $250 million share buyback on the back of a 10 per cent half-on-half increase in first-half underlying earnings.

GNC - GRAINCORP LIMITED - up $1.95, or 26.7 per cent, to $9.25

GrainCorp shares surged more than a third after the drought-hit grain handler received an all-cash $2.38 billion takeover bid from little-known asset manager Long-Term Asset Partners.

AMP - AMP LIMITED - up six cents, 2.5 per cent, to $2.49

Francesco De Ferrari has started work as AMP chief executive after what he says have been "some of the most challenging days" in the company's 169-year-old history.

NEC - NINE ENTERTAINMENT - up 1.5 cents, or 0.9 per cent, to $1.77

FXJ - FAIRFAX MEDIA - unchanged at 66 cents

Nine Entertainment will make 144 positions redundant following its merger with Fairfax Media, with chief executive Hugh Marks telling staff that 92 people will be affected by the reduced number of roles.

WES - WESFARMERS LIMITED - up 12 cents, or 0.4 per cent, to $31.71

Wesfarmers on Monday announced the completion of the sale of its 40 per cent interest in the Bengalla joint venture to its joint venture partner New Hope Corporation for $860 million.

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