Stocks to watch on the Australian stock exchange at the close on Tuesday:
AGL - AGL ENERGY - up 99 cents, or 6.4 per cent, at $16.47
Energy provider AGL has unveiled plans to sell off more than $1 billion worth of assets and cut costs by $200 million within two years, sending its share price to its highest level in eight years.
ALL - ARISTOCRAT LEISURE - up 51 cents, or 6.5 per cent, at $8.38
A major acquisition in the US and the growing popularity of mobile gaming have boosted poker machine supplier Aristocrat Leisure's half year profit.
BLY - BOART LONGYEAR - down 0.5 cents, or three per cent, at 16 cents
Drilling services company Boart Longyear continues to face weak demand for its services and products.
COH - COCHLEAR - up $1.20, or 1.4 per cent, at $88.66
Hearing implants maker Cochlear has promoted the head of its North American operations, Chris Smith, to be its next chief executive.
FMG - FORTESCUE METALS GROUP - up 23 cents, or 10.6 per cent, at $2.40
Fortescue Metals Group shares have surged on speculation two major Chinese companies are considering investments in the iron ore miner, and higher iron ore prices.
MCR - MINCOR RESOURCES - down 0.5 cents, or 0.8 per cent, at 60.5 cents
Nickel miner Mincor is axing 50 jobs as the company restructures its Kambalda operations in Western Australia.
OFX - OZFOREX - down 28 cents, or 10.5 per cent, at $2.38
OzForex shares dropped sharply despite the currency trader announcing a 52 per cent increase in full year profit.
UGL - UGL - up three cents, or 1.3 per cent, at $2.34
UGL has snared a $190 million joint venture contract to maintain BP's 17 fuel terminals across Australia.
WBC - WESTPAC - up 69 cents, or 2.1 per cent, at $33.65
Rob Whitfield is stepping down as head of Westpac Institutional Bank to be replaced by Commonwealth Bank executive Lyn Cobley.