Aaron Bunch Journalist with Australian Associated Press | Collection of published work | + 61 484 008 119 | abunch@aap.com.au
Stocks of interest on the ASX this week
Stocks of interest on the Australian share market.
December 15, 2019
RFG – Retail Food Group – down $1.55, or 35.2 per cent, to $2.85
Australia’s largest multi-brand food retailer, which includes the Gloria Jean’s, Brumby’s Bakery and Crust Pizza brands, has been accused of mistreating franchisees, including charging hefty fees that have driven some to the wall, following a Fairfax Media investigation.
MYR – Myer – down 12.5 cents, or 16.2 per cent, to 64.5 cents
The embattled department store chain has issued a profit downgrade after total sales declined five per cent in the two weeks of December, compared to a year ago. Myer expects its first-half profit to be “materially below” the $62.8 million it made in the same period a year ago.
WFD – Westfield Corporation – up 86 cents, or 10.1 per cent, at $9.35
The Australian company which owns shopping centres in the US and UK has agreed to sell the business to Paris commercial property giant Unibail-Rodamco for $US24.7 billion ($A32.7 billion).
CWN – Crown Resorts – up 46 cents, or 3.7 per cent, at $12.85
The casino operator has announced a string of asset sales that could deliver a windfall of nearly $700 million. The sales include the $60 million purchase of two floors of its luxury Crown Sydney complex at Barangaroo by its largest shareholder, billionaire James Packer.
TCL – Transurban – up 52 cents, or 4.2 per cent, at $12.80
Road toll operator Transurban has come out of a two-day trading halt after it successfully tapped investors for $1.9 billion to fund the West Gate Tunnel project in Melbourne.