Stocks of the Hour: Westpac, Cimic & HomeCo

Papua New Guinea’s watchdog has blocked the sale of Westpac’s (ASX:WBC) Pacific businesses to Kina Securities. Given the outcome, Westpac will continue to operate these businesses. Shares in Westpac (ASX:WBC) are trading 0.4 per cent higher at $25.75.

Cimic (ASX:CIM) company UGL has won a government contract extension worth more than $100 million. UGL plans to build an extra 56 passenger rail cars in NSW. Shares in Cimic (ASX:CIM) are trading 0.4 per cent lower at $21.16.

HomeCo Daily Needs (ASX:HDN) has raised $88.3 million, and will use the funding to acquire six different properties. The acquisition will cost $222 million. The company will use debt funding to pay the balance. Shares in HomeCo Daily Needs  (ASX:HDN) are trading 3 per cent lower at $1.61.

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