Stocks to watch on the Australian stock exchange at close on Wednesday:
BHP - BHP BILLITON LTD - down 64 cents at $34.03
BHP Billiton's new chief executive Andrew Mackenzie has outlined plans to slash capital spending by almost a fifth.
CBA - COMMONWEALTH BANK OF AUSTRALIA - up 56 cents at $72.65
Commonwealth Bank of Australia has lifted its third quarter profit by 12 per cent to $1.9 billion.
CSR - CSR LTD - down 1.5 cents at $1.95
Building products group CSR has put on a brave face after posting a $147 million loss, saying it believes Australia's housing market is recovering.
DXS - DEXUS PROPERTY GROUP - down one cent at $1.19
Dexus Property Group has sold five of its six remaining European industrial properties for a total of 16.5 million euros ($A21.72 million).
FXJ - FAIRFAX MEDIA LTD - up 0.5 cents at 66.5 cents
Politicians need to adapt to the 24-hour news cycle and could be better off not talking to the media, Fairfax chief executive Greg Hywood says.
RIO - RIO TINTO LTD - down $1.78 at $55.77
Federal Environment Minister Tony Burke has approved Rio Tinto Alcan's South of Embley bauxite mine and port development project in western Cape York.
SGT - SINGAPORE TELECOMMUNICATIONS LTD - up seven cents at $3.26
Australia's second-biggest telco, Optus, has suffered a 7.5 per cent slump in net profit for the year to March 31.
UGL - UGL LTD - down $1.63 at $7.94
Engineering firm UGL has blamed a slowdown in resources and infrastructure investment for a big downgrade in its profit guidance.
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