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 8, 2017
HVN – Harvey Norman – up 18 cents, or 4.5 per cent, to $4.20
Better-than-expected retail spending figures for October and Amazon’s underwhelming Australia launch boosted furniture and electrical goods retailer Harvey Norman.
MTC – METALSTECH – up 6.5 cents, or 22.8 per cent, to 35 cents
Shares in Metalstech rocketed after Chinese electric vehicle battery manufacturer Dynavolt subscribed for 10 million shares in the Canada-focused lithium explorer in a binding agreement that includes scope for Dynavolt to lift its stake.
AWE – AWE Limited – up 3 cents, or 4.3 per cent, at 73 cents
Shares in AWE climbed after a Chinese state-owned energy giant, China Energy Reserve and Chemical Group (CERCG), made a renewed takeover bid of 73 cents per share for the Australian oil and gas group, three days after withdrawing a bid of 71 cents a share.
MTS – Metcash – up 35 cents, or 12.7 per cent, at $3.10
Metcash shares hit their highest level in more than three and a half years after the IGA and Foodland supplier managed a 24 per cent lift in first-half profit on the back of boosted earnings across its food, liquor and hardware divisions.