News Headline Summary

Pre-market Australian stocks news...

Macmahon Holdings (MAH AT)
- Fortescue awards USD 1.8bln Christmas Creek mining contract to Macmahon holdings. (Newswires)

Rio Tinto (RIO AT)
- Co. to step up talks with Mozambique coal players including industry giants Anglo American and Vale after a review of its USD 3.9bln Riversdale mining acquisition found the assets did not have as much coal as first thought and would not support its own rail infrastructure. There is also news that Co. has also agreed to resume bargaining with the Australian Workers Union after almost 20 years of hostilities. (The Australian)

National Australia Bank (NAB AT)
- Banco Santander isn’t in talks to buy Clydesdale and Yorkshire Bank from NAB.

Mirabella Nickel (MBN AT)
- Q4 production 5,291 tonnes of nickel in concentrate. (Newswires)

Nine Network Entertainment
- Creditors have voted in favour of a USD 3.4bln recapitalisation of the media company. (Australian Financial Review)

Broker moves

- Henderson Group (HGG AT) raised to buy at Shore Capital.
- Seven West Media (SWM AT) cut to reduce at Nomura.
- ASX (ASX AT) raised to new buy at Citigroup.
- Transurban (TCL AT) cut to neutral from buy at UBS.
- Aurora Oil & Gas (AUT AT) rated new outperform at RBC Capital.

22 Jan 2013 - 09:47 - - Source: Newswires / The Australian / Australian Financial Review

Subscribe Now to RANsquawk

Click here for a 1 week free trial

RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: