News Headline Summary

Pre-market Australian stocks news...

Rio Tinto (RIO AT)
- Nigeria is offering mining concessions to Co.s including Rio Tinto to explore dormant reserves and boost non-crude revenues. (Newswires)

BHP Billiton (BHP AT)
- Workers at Carrejon coal mine plan to go on strike after wage talks broke down. (Newswires)

Aurizon (AZJ AT)
- Xstrata Coal declare force majeure on some Gladstone vessels, states it is monitoring the situation and is in close contact with Aurizon. Aurizon expects the Gladstone coal rail lines to be shut for up to 10 days. (Newswires)

Qantas Airways (QAN AT)
- The Dixon group have sold their stake in the airline. (Australian Financial Review)

Macquarie Group (MQG AT)
- The ASIC has criticised the Co. for recurring compliance failures from the group’s private wealth unit. The firm is facing two years of intensive work to overhaul practices under the ASIC, after breaches from a significant number of the firm’s advisors. (The Australian)

Lynas (LYC AT)
- Co. states there remains no injunction or stay preventing the Co. to continue operations at its Malaysian plant. (Newswires)

Wesfarmers (WES AT)
- December QTR coal production down 6.4% Q/Q to 2.673M tons. (Newswires)

Insurance companies
- May see lower profits due to the Australian floods. (Newswires)

Broker Moves
- JB Hi-Fi (JBH AT) cut to underperform from neutral at BofA Merrill Lynch.
-Goodman Fielder (GFF AT) raised to buy at BofA Merrill Lynch.

Print 22:41, 29 Jan 2013 - Asian News - Source: Newswires / The Australian / Australian Financial Review