Stocks of the Hour: Star Entertainment, Myer & Evolution Mining

Australia's largest department store, Myer (ASX:MYR), has secured a 10-year lease on a new 40,000 square metre facility in Victoria. The facility will be Myer's National Distribution Centre for both stores and online fulfilment. Shares in Myer Holdings (ASX:MYR) are trading 2.2 per cent lower at $0.46.

The Star Entertainment Group (ASX:SGR) has informed Crown Resorts (ASX:CWN) that it has withdrawn its bid to merge the two businesses after an incident at Victoria's Royal Commission. If the proposal went through successfully, it would have created a $10 billion gambling giant. Shares in The Star Entertainment Group (ASX:SGR) are trading 0.6 per cent lower at $3.53.

Evolution Mining (ASX:EVN) has announced that it has successfully completed a $400 million institutional placement of approximately 104 million new fully paid ordinary Evolution shares to institutional investors at $3.85 per share. Shares in Evolution Mining (ASX:EVN) are trading 5.7 per cent higher at $4.30.
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Source: Finance News Network