News Headline Summary

Pre-market Australian stocks news...

Fortescue (FMG AT)
- Co. may get Pilbara Infrastructure Ltd. stake bids by mid-February.

Macmahon (MAH AT)
- Co. is facing a legal challenge from Sembawang to stop the sale of its construction arm to Leighton Holdings. (Australian Financial Reviews)
- Co. has denied allegations it failed to inform the market of an offer for its construction business by Semawang last November.

AGL Energy (AGK AT)
- Meridian considering sale of 50% stake in AUD 1bln Macarthur wind farm. (N.Z. Herald)

St. Barbara (SBM AT)
- China Hanking (3788 HK) is to buy assets of Southern Cross Operations from Co, for AUD 22.5mln.

Premarket broker moves
- Macquarie (MQG AT) upgraded to 'buy' at UBS.
- Lynas (LYC AT) raised to 'hold' from 'sell' at Deutsche Bank.
- IOOF (IFL AT) cut to 'Neutral' at Credit Suisse.
- Fortescue (FMG AT) cut to 'sell' from 'hold' at Deutsche Bank.

08 Jan 2013 - 22:30 - Equities - Source: Newswires/The Australian Financial Reviews/N.Z. Herald

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