Stocks of the Hour: Qantas, Aurizon & Orocobre

Company News

by Lauren Evans

Qantas (ASX:QAN) and Jetstar are set to bring forward more international flights from Sydney, including to Singapore, Bangkok and Johannesburg, as NSW prepares to reopen for international travel from November 1. The reopening of borders means that 11,000 Qantas and Jetstar workers, who remain stood down, will be back to work in early December. Shares in Qantas Airways (ASX:QAN) are trading 0.2 per cent lower at $5.68.

Rail operator Aurizon (ASX:AZJ) has unveiled a $2.35 billion deal to acquire One Rail Australia (ORA) from Macquarie Asset Management (ASX:MQG) using existing and new debt facilities. Aurizon aims to complete the acquisition between January and April next year, subject to  relevant approvals. Shares in Aurizon (ASX:AZJ) are trading 5.9 per cent lower at $3.66.

Lithium company Orocobre (ASX:ORE) has announced record production from its Mt Cattlin mine in Western Australia and an increase in lithium production after reporting on its September quarter. This marks the company’s first results announcement as a combined entity, following its merger with Galaxy Resources. Shares in Orocobre (ASX:ORE) are trading 1 per cent higher at $9.11.

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