Stocks to watch on Wednesday

Stocks to watch on the Australian stock exchange on Wednesday, July 29:

A2M - A2 MILK - down one cent, or 1.31 per cent, at 75.5 cents

A2 Milk Co managing director Geoff Babidge is sitting on a 730 per cent capital gain after settling the outstanding amount due on six million partly-paid shares he received five years ago.

CSL - CSL - up $1.52, or 1.61 per cent, at $96.17

US drug regulators will review CSL's latest treatment for haemophilia, after a clinical trial showed promising results.

FXJ - FAIRFAX - down 1.5 cents, or 1.78 per cent, at 83 cents

Fairfax Media chief executive Greg Hywood says his company is not opposed to Foxtel's bid for a stake in the Ten Network because Fairfax wants to buy a TV station.

MYR - MYER - up one cent, or 0.84 per cent, at $1.195

Myer will axe staff at 42 of its 67 shops through a voluntary redundancy program as the department store giant overhauls its operations.

NAB - NATIONAL AUSTRALIA BANK - down five cents, or 0.15 per cent, at $33.86

National Australia Bank is aiming to raise $US385 million ($A529.76 million) when it sells its final stake in its former US subsidiary Great Western Bancorp through a public offering.

ORG - ORIGIN ENERGY - up 30 cents, 2.69 per cent, at $11.45

Origin Energy is on track to meet its export targets for the Australia-Pacific (APLNG) LNG project after hitting a key start-up milestone.

QBE - QBE - up 2.00 cents, or 0.14 per cent, at $14.69

Insurer QBE has appointed senior executive Tim Plant as the head of its Australian operations.


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