Stocks to watch at noon on Wednesday

Stocks to watch on the Australian stock exchange at noon on Wednesday:


Australand says it has no received no proposal from major shareholder Stockland about a potential takeover.

API - AUSTRALIAN PHARMACEUTICAL INDUSTRIES - trading suspended, last traded at 56.5 per cent

Shares in Australian Pharmaceutical Industries have been suspended from trade while the drugs distributor and pharmacies operator assesses the carrying value of its assets.

BHP - BHP BILLITON - down 5.00 cents, or 0.13 per cent, at $37.73

BHP Billiton has raised its full year guidance for iron ore and metallurgical coal production after achieving record output so far this fiscal year.

BRL - BATHURST RESOURCES - down 0.5 cents, or 7.14 per cent, at 6.5 cents

Bathurst Resources has raised $A7.39 million ($NZ8 million) in a discounted placement to institutional investors to help fund development of its Escarpment open-cut coal mine on New Zealand's Denniston Plateau near Westport.

BSL - BLUESCOPE STEEL - down 2.00 cents, or 0.31 per cent, at $6.33

Australia's largest steelmaker and owner of the New Zealand Steel mill, BlueScope Steel, has gained approval to acquire the assets of Fletcher Building's Pacific Steel in a $NZ120 million ($A111.73 million) deal.

FMG - FORTESCUE METALS GROUP - down 1.00 cents, or 0.19 per cent, at $5.32

Pilbara iron ore miner Fortescue Metals Group boosted its iron ore shipments by 15 per cent in the March quarter.

ILU - ILUKA RESOURCES - down 61.5 cents, or 6.29 per cent, at $9.155

Iluka Resources shares have fallen six per cent after the mineral sands miner recorded a drop in production and revenue.

TPM - TPG TELECOM - up 17 cents, or 2.97 per cent, at $5.89

Telco TPG has been fined $400,000 for failing to provide access to emergency numbers for customers who had not paid bills.


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