Stocks of the Hour: Westpac, Centuria Industrial REIT & Cochlear

Company News

by Lauren Evans

Westpac (ASX:WBC) welcomes Catherine McGrath as chief executive officer (CEO) for Westpac, New Zealand. Catherine is set to start in November this year, having worked at Barclays Bank in London since 2013. Shares in Westpac Banking Corporation (ASX:WBC) are trading 0.7 per cent higher at $25.23.

Centuria Industrial REIT (ASX:CIP) has raised $300 million through an institutional placement announced yesterday. The real estate investment group will use the funds to acquire eight urban infill industrial assets for a total of $351.3 million. Shares in Centuria Industrial REIT (ASX:CIP) are trading 5.7 per cent lower at $3.78.

Ear specialist Cochlear (ASX:COH) has received a complaint about a patent infringement that was filed by the University of Pittsburgh, in the US District Court. Cochlear believes the complaint is invalid as its legacy products and related patents predate the University’s patent by several years. Shares in Cochlear (ASX:COH) are trading 4.2 per cent lower at $227.16.

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