WASHINGTON - US mortgage finance giants Fannie Mae and Freddie Mac saw their share prices plummet today amid heightened concerns about their ability to ride out the credit crisis without government help.

LONDON - Britain’s competition watchdog said it may force airports operator BAA to sell three of its seven airports in London following fierce criticism of poor customer service, overcrowding and long delays. Macquarie Airports is among potential buyers identified by analysts.

BERLIN - The German government on Wednesday approved a draft law that would allow it to block moves by foreign investors to take large stakes in German companies, if it concludes that they endanger the country’s interests.

WELLINGTON - Auckland International Airport (AIA) posted a 3.3 per cent rise in full year net profit to $NZ113 million ($A92.62 million), partly due to strong growth in domestic passenger numbers as the local airline industry became more competitive.

WELLINGTON - Ports of Auckland has thrown the idea of buying rival Port of Tauranga’s container business into the great supply chain debate.

WELLINGTON - Compass Capital has stopped repaying investors, blaming deteriorating credit and property markets.

KUALA LUMPUR - Malaysia’s long-haul budget carrier AirAsia X said today it will begin flights to Melbourne, its third Australian destination, from November.

LOCAL NEWS

SYDNEY - Australians lose at least $36 million a year to so-called Nigerian scammers via the internet.

SYDNEY - NSW Labor would lose 21 seats and be swept from government if a state election were held today, the party’s internal polling shows.

CANBERRA - Having your horoscope texted to your mobile phone each day may sound like a good idea, but many consumers are being hit with massive and unexpected bills for the privilege, the consumer watchdog warns.

STOCKS TO WATCH ON THE AUSTRALIAN STOCK EXCHANGE TODAY:

CWN - CROWN LTD - down three cents to $8.20
Casinos operator Crown Ltd says its Australian casinos have been trading satisfactorily since the start of the 2009 financial year.

BNB - BABCOCK AND BROWN LTD - in trading halt, last traded at $3.45
Shares in Babcock & Brown will be in a trading halt today after the investment group last night requested the suspension ahead of a meeting of a board subcommittee.

JHX - JAMES HARDIE INDUSTRIES NV - down seven cents to $4.43
James Hardie Industries has suffered a fall in first quarter earnings following a downturn in the US housing market.

BXB - BRAMBLES LTD - down $1.11 to $7.41
Brambles has increased its full year profit from ongoing operations by 49 per cent as the world’s biggest pallet maker and distributor signed new contracts in the US and Europe.

MOC - MORTGAGE CHOICE LTD - up 11.5 cents to $1.185
Mortgage originator Mortgage Choice has reported a 1.2 per cent fall in annual profit but says it is well positioned for the new financial year.

QGC - QUEENSLAND GAS COMPANY LTD - in trading halt, last traded at $4.32
Queensland Gas Co has requested a trading halt of its shares ahead of an announcement about a potential takeover.

TRS - THE REJECT SHOP - up 81 cents to $10.71
Discount retailer The Reject Shop expects strong growth in the current year after booking a 35.6 per cent rise in annual profit.

MAP - MACQUARIE AIRPORTS - up 26 cents to $3.08
Macquarie Airports has delivered a half year net loss of $274 million, but says the outlook for the rest of the year is solid.

MAH - MACMAHON HOLDINGS LTD - up 6.5 cents $1.55
Macmahon Holdings, which provides services to the mining and construction sectors, has lifted its takeover bid for drilling contractor Ausdrill Ltd after delivering a rise in annual profit.

CCL - COCA COLA AMATIL LTD - up 40 cents to $8.34
Beverage maker Coca Cola Amatil says it is on track for high single digit second half earnings growth after posting a 22.0 per cent lift in its interim profit.

AGK - AGL ENERGY LTD - up 48 cents to $14.40
AGL Energy has posted a 44.2 per cent fall in its annual reported profit, but Australia’s biggest gas and electricity supplier maintained its guidance for underlying earnings for this year.

PPT - PERPETUAL LTD - down 38 cents to $45.52
Perpetual has reported a 29 per cent fall in annual profit after weathering significant volatility in global credit and equity markets, following the US sub-prime mortgage crisis.

PBG - PACIFIC BRANDS LTD - down five cents to $2.02
Pacific Brands has reported a ten per cent rise in annual profit but expects flat to negative sales for the remainder of 2008 before recovery in 2009.

ORG - ORIGIN ENERGY LTD - down 13 cents to $15.97
British oil and gas giant BG Group says its $13.8 billion hostile takeover bid for Origin Energy represented “full and fair value.”

DMP - down five cents to $3.50
Domino’s Pizza has boosted its annual profit by 29.6 per cent after generating strong sales growth across the group, particularly in Europe.

SKT - SKY NETWORK TELEVISION LTD - up one cent to $4.08
New Zealand’s Sky Network Television posted a 25.5 per cent increase in full year net profit to $NZ97.7 million ($A80.01 million), as viewership, subscriber numbers and average revenue per subscriber rose.