Stockwatch Week to Aug 17

A round-up of some of the key stock movements on the Australian Stock Exchange (ASX) in the trading week to Friday, August 17, 2011:

(Includes change on share price from previous Friday close)

AMP - AMP LTD - up 13 cents at $4.11

AMP's shares are higher after the wealth manager beat expectations with a seven per cent rise in underlying first half profit.

ASX - ASX LTD - down 66 cents at $30.77

Equity market operator ASX Ltd has reported a four per cent drop in annual net profit, blaming decreased investor activity arising from Europe's debt crisis.

CBA - COMMONWEALTH BANK OF AUSTRALIA - up $1.41 at $57.35

Commonwealth Bank's record $7.1 billion profit will benefit millions of Australian households, its chief executive says.

BSL - BLUESCOPE STEEL LTD - up 14 cents at 40 cents

BlueScope Steel has struck a deal with Japan's largest steelmaker that will help it capture overseas markets and wipe out debt.

EGP - ECHO ENTERTAINMENT GROUP LTD - down 11 cents at $4.05

Casinos operator Echo Entertainment Group says any potential proposal from rival Crown or Malaysian gambling group Genting must recognise the value of Echo's "good, long-term licences" in NSW and Queensland.

FXJ - FAIRFAX MEDIA LTD - up 3.5 cents at 56 cents

TME - TRADE ME GROUP LTD - up one cent at $3.00

CMJ - CONSOLIDATED MEDIA HOLDINGS LTD - up one cent at $3.45

Ellerston Capital, a fund manager controlled by Australian billionaire James Packer's family interests, has emerged as a substantial shareholder in online auction site Trade Me.

GFF - GOODMAN FIELDER LTD - up eight cents at 55.5 cents

Goodman Fielder has played down reports that the world's biggest palm oil processor has its eye on the breads and spreads maker.

HDF - HASTINGS DIVERSIFIED UTILITIES FUND - up five cents at $2.59

APA - APA GROUP - down one cent at $4.65

Pipeline Partners Australia (PPA) Pty Ltd has increased its cash offer for Hastings Diversified Utilities Fund (HDF) by 10 cents to $2.43 per security.

JHX - JAMES HARDIE INDUSTRIES SE - down 24 cents at $8.03

Building products producer James Hardie has posted an improved net profit of $US68.5 million ($A65.02 million) in its first quarter as the US housing market makes a gradual recovery.

NAB - NATIONAL AUSTRALIA BANK LTD - down 55 cents at $24.63

National Australia Bank (NAB) says demand for loans from businesses is still weak after its quarterly profit remained steady at $1.4 billion.

OZL - OZ MINERALS LTD - down 74 cents at $7.18

The increasingly likely delay of BHP Billiton's massive $30 billion Olympic Dam expansion is being welcomed by Oz Minerals which has revealed sharp jumps in operating costs.

PRY - PRIMARY HEALTH CARE LTD - up 51 cents at $3.52

Medical centres operator and pathology provider Primary Health Care has unveiled a near 50 per cent rise in full year profit and forecast stronger earnings in 2012/12.

SGT - SINGAPORE TELECOMMUNICATIONS LTD - down four cents at $2.52

Telecommunications carrier Optus has suffered a slide in earnings and revenue during the first quarter of its financial year.

WES - WESFARMERS LTD - up $2.40 at $34.67

Canny shoppers are seeking value for money to combat falling house prices and shrinking superannuation funds, Wesfarmers boss Richard Goyder says as his conglomerate posts an 11 per cent lift in full-year profit.

WDC - WESTFIELD GROUP - down five cents at $9.88

WRT - WESTFIELD RETAIL TRUST - down eight cents at $2.97

Westfield has lifted its first half profit by nearly a third and says it will boost investment in its better-performing Australian shopping centres to drive earnings further.

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