Stocks to watch at close on Thursday

Stocks to watch on the Australian stock exchange at close on Thursday:

IIN - IIN - down 11 cents, or 1.09 per cent, at $9.94

MTU - M2 - down nine cents, or 0.81 per cent, at $10.98

TPM - TPG TELECOM - down seven cents, or 0.78 per cent, at $8.94

M2 Group has signalled it may further increase its takeover bid for iiNet if rival TPG Telecom decides to lift its $1.4 billion offer.

MGR - MIRVAC - down three cents, or 1.47 per cent, at $2.01

Strong housing markets in Sydney and Melbourne are underpinning demand for developer Mirvac's off-the-plan projects.

QAN - QANTAS AIRWAYS - up 15 cents, or 4.63 per cent, at $3.39

The number of people flying Qantas and Jetstar has picked up, helped by a big increase in passengers on the airlines' international routes.

STO - SANTOS - up two cents, or 0.24 per cent, at $8.30

Santos chief executive David Knox says he expects the company to be free cashflow positive in calendar 2015 and 2016 despite the weak oil price.

TEN - TEN NETWORK HOLDINGS - steady at 20.5 cents

Ten Network has warned it is nearing the limits of its $200 million loan and may need to raise more money in the next year as it attempts to boost ratings and lagging advertising revenue.

TLS - TELSTRA - down nine cents, or 1.42 per cent, at $6.23

Telstra has promoted executive team member Warwick Bray to be its new chief financial officer.

TPM - TPG TELECOM - down seven cents, or 0.78 per cent, at $8.94

AMM - AMCOM TELECOMMUNICATIONS - down 40.0 cents, or 14.81 per cent, at $2.30

VOC - VOCUS COMMUNICATIONS - down 16.0 cents, or 2.68 per cent, at $5.81

TPG Telecom has lifted its stake in rival Amcom in an attempt to block its planned $653 million merger with Vocus Communications.

XRO - XERO - down 88.0 cents, or 4.42 per cent, at $19.02

Xero, the cloud-based accounting software firm whose shares have dropped substantially in the past year, has told the ASX it has complied with disclosure rules over its annual results.

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