Australia Markets closed

Stocks to watch

Stocks of interest at the close of trading on Tuesday, February 11.

-

SUN - SUNCORP - down 16 cents, or 1.3 per cent, to $12.35

A surge of bushfire and hailstorm claims have delivered an expected hit to the insurance giant's first-half profit, with its bottom line also hurt by higher regulatory costs and an increasingly competitive mortgage market.

Suncorp's profit from ongoing operations slid 6.2 per cent to $396 million, while the company's statutory net profit after tax more than doubled to $642 million on a $293 million gain from the sale of its Capital SMART and ACM Parts businesses.

CGF - CHALLENGER - up $1.23, or 13.9 per cent, to $10.10

The retirement fund manager reported it was on track to achieve the top ends of its guidance range of $500 million to $550 million in full-year profit before tax, after a strong half year in which it made $279 million.

TCL - TRANSURBAN - up 23 cents, or 1.4 per cent, to $16.33

The toll road operator has confirmed a higher first-half payout on a toll revenue boost, even though traffic growth on several Sydney and Melbourne roads has softened over the past six months.

The toll roads giant on Tuesday announced it had lifted statutory net profit for the half year to December 31 by 46 per cent to $189 million, with proportional toll revenue up 8.6 per cent to $1.4 billion on price increases and a 2.3 per cent lift in average daily traffic across its network.

COH - COCHLEAR - down $8.29, or 3.4 per cent, to $236.47

Cochlear has downgraded its full-year profit guidance, saying the Wuhan coronavirus has cut demand for hearing implant surgery.

Cochlear now expects to earn $270 million to $290 million in 2019/20, up two to nine per cent from what it made in 2018/19, but down from the $290 million to $300 million in underlying net profit previously forecast.

Hospitals across Greater China, including Hong Kong and Taiwan, are deferring surgeries to limit the risk of infection from the epidemic, Cochlear said.

BPT - BEACH ENERGY - down six cents, or 2.5 per cent, to $2.31

The oil and gas exploration company reported a 10 per cent decrease in revenue to $948.3 million for the six months to December 31, with net profit dipping two per cent to $278.5 million on its reduced interest in the Victorian Otway asset.