News Headline Summary

PRE-MARKET AUSTRALIAN STOCK NEWS: Challenger and Access to merge infrastructure investment

TPG Telecom (TPG AT)
- NBN’s new chief executive, Bill ­Morrow, will push the federal government to charge a levy against its rivals in densely populated urban areas to pay for building broadband in the bush. (AFR)

Ausdrill (ASL AT)
- Co.’s CFR lowered to Ba3 at Moody’s; outlook stable. (BBG)

Transurban (TCL AT)
- Queensland Motorways sale may fetch AUD 6.3bln. (Australian)

Stockland (SGP AT)
- Co. plan to sell Brisbane tower for about AUD 600mln. (Australian)

Challenger (CGF AT)
- Co. and Access to merge infrastructure investment. (AFR)

Mirvac (MGR AT)
- Co. is a bout to strike a deal on asset sales with Blackstone group. (BBG)

Basic Materials
- Gold futures rebound from biggest fall in 16 weeks in New York; China import iron ore benchmark breaks 2-day rise, according to Steel Index.

Mount Gibson (MGX AT)
- Co. are on track for FY14 ore sales of about 9.5mln tons. (BBG)
- Q3 iron ore sales -19% to 2.02mln tons. (DJN)
- Co. expects to significantly increase shipping in Q4. (BBG)

Santos (STO AT)
- Co. reports Q1 production of 12.2mln bbls, revenue AUD 913mln.
- Co. says Q1 production up 1% on prior corresponding period; all 2014 guidance maintained. (BBG)

Evolution Mining (EVN AT)
- March quarter gold production 101,408oz, on target to meet FY 14 guidance. (BBG)

Woodside Petroleum (WPL AT)
- Co. reports Q1 production of 23.0mln bbls vs. Exp. 22.9mln bbls. (BBG)
- Co. reported Q1 revenue AUD 1.675bln, up 15.9% on PCP. (BBG)
- Co. says has not yet executed agreements on Levithan, talks with parties and Israel continue. (BBG)

Broker Moves (CRZ): Raised to outperform at Credit Suisse; PT AUD 11.90

17 Apr 2014 - 04:52 - Equities - Source: BBG

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