Stocks of the Hour: Whitehaven Coal, ANZ Banking Group

Company News

by Tim McGowen

Coal stocks are moving higher today after Australia's Whitehaven Coal (ASX:WHC) on Monday posted a 16.9 per cent rise in fourth-quarter production -- driven by higher output at its flagship Narrabri mine -- while also expecting to report record core earnings in the coming year. Their shares are currently trading at $5.92, up 5.53 per cent. Their shares are +130 per cent year to date. Other coal stocks trending higher include TerraCom (ASX:TER), which is up 320 per cent this year, and Stanmore Resources (ASX:SMR), up 110 per cent year to date.

Australia and New Zealand Banking Group (ASX:ANZ) said on Monday it will buy insurer Suncorp Group's (ASX:SUN) banking unit for A$4.9 billion to bolster its customer growth and home loan book even as it withdrew from talks to buy software firm MYOB Group. Australia's ACCC will review ANZ’s Suncorp acquisition after receiving application from the company. Shares in ANZ last traded at $21.64 and are currently in a trading halt. Suncorp shares are currently over 6 per cent higher.

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