Stocks to watch on Tuesday
Stocks to watch on the Australian stock exchange on Tuesday:
ARI - ARRIUM - in a trading halt at 65 cents
Miner and steelmaker Arrium is asking its shareholders to cough up more than $750 million to pay down its debt pile in the face of sliding iron ore prices.
BXB - BRAMBLES - down two cents, or 0.2 per cent, at $9.57
Logistics company Brambles has completed its acquisition of Ferguson Group, which provides containers to the offshore oil and gas sector.
ELD - ELDERS - up five cents, or 23.8 per cent, at 26 cents
Shares in Elders jumped after the agribusiness moved to raise $57 million to help cut debt, and secured new banking facilities.
JHX - JAMES HARDIE - down 25 cents, or 1.95 per cent, at $12.54
Asbestos victims have rejected a "morally bankrupt" proposal for James Hardie to ditch lump sum compensation packages in favour of instalment payments.
LEI - LEIGHTON HOLDINGS - down 90 cents, or 4.1 per cent, at $20.94
Leaked emails from Leighton Holdings reveal plans by senior employees to make payments to friends in the Middle East and to inflate and backdate contracts for work in Iraq, according to Fairfax news.
The company's shares are also trading ex-dividend.
LYC - LYNAS CORPORATION - down two cents, or 13.3 per cent, at 13 cents
Troubled rare earths miner Lynas has cut talks over a restructure of a $US225 million loan, meaning it will soon need to make a sizeable repayment.
MQG - MACQUARIE GROUP - up 60 cents, or one per cent, at $58.55
Macquarie Group expects its full year profit to grow beyond last year's $1.27 billion.
SDL - SUNDANCE RESOURCES - steady at eight cents
Former Leighton boss Wal King is the new chairman of African-focused iron ore miner Sundance Resources.
TEN - TEN NETWORK - steady at 26 cents
Billionaire Bruce Gordon has reportedly increased his shareholding in Ten Network to cement his position as the broadcasters largest shareholder.
