Stocks to watch on Monday

Stocks to watch on the Australian stock exchange on Monday, March 2:

CAB - CABCHARGE - up 14 cents, or 2.8 per cent, at $5.11

Payments system operator Cabcharge is looking to expand beyond the taxi system in an increasingly cashless society after a 13.4 per cent slump in its half year net profit to $31.2 million.

FXJ - FAIRFAX MEDIA - up three cents, or 3.2 per cent, at 98 cents

MRN - MACQUARIE RADIO - steady at 96.5 cents

The merger of Macquarie Radio Network and Fairfax Media's radio business is one step closer after the competition watchdog gave it the green light.

GNC - GRAINCORP - down 20 cents, or two per cent, at $9.87

GrainCorp has warned its full year year profit could dive more than 50 per cent due to smaller crops and weaker exports.

HVN - HARVEY NORMAN - up seven cents, or 1.6 per cent, at $4.42

Retailer Harvey Norman is forecasting sales growth in its homemaker products thanks to improved consumer confidence.

NCM - NEWCREST MINING - up 46 cents, or 3.3 per cent, at $14.39

EVN - EVOLUTION MINING - down nine cents, or 9.6 per cent, at 84.5 cents

Australia's biggest gold miner Newcrest Mining has sold more than half of its one-third stake in Evolution Mining for about $106 million.

QAN - QANTAS AIRWAYS - up four cents, or 1.4 per cent, at $2.89

Qantas has received a more favourable outlook from credit ratings agency Moody's after the airline delivered its best half year result in four years.

PPX - PAPERLINX - steady at at 1.8 cents

A week after its chief executive was replaced, packaging group PaperlinX has announced an even deeper half year loss stemming from problems in Europe.

RIO - RIO TINTO - up 71 cents, or 1.1 per cent, at $64.41

Rio Tinto will merge its copper and coal divisions into one business as part of a new range of cost-cutting measures announced by the mining giant.

TWE - TREASURY WINE ESTATES - steady at $5.43

The maker of Penfolds wine has taken a large hit to half year profit despite stronger sales, as it makes major changes to its business.

WOW - WOOLWORTHS - down $3.24, or 9.5 per cent, at $30.71

A slide in the supermarket giant's half year profit led to a downgrade of its full year earnings forecast, as it announced plans to step up investment after falling further behind arch rival Coles.


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