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Stocks to watch at noon on Friday

Stocks to watch on the Australian stock exchange at noon on Friday:

ANZ - ANZ BANKING ROUP - down $2.305, or 7.07 per cent, at $30.275

ANZ shares are down seven per cent following its announcement of a $3 billion capital raising.

ORI - ORICA - down $3.21, or 17.05 per cent, at $15.62

Shares in Orica have been pummelled after the explosives maker revised down its profit guidance.

RHC - RAMSAY HEALTH CARE - down $2.31, or 3.48 per cent, at $64.06

Private hospitals operator Ramsay Health Care has reaffirmed its guidance for core net profit following the publication of the financial results for French hospitals group Generale de Sante.

RIO - RIO TINTO - up 13 cents, or 0.24 per cent, at $53.68

Mining giant Rio Tinto will make deeper cost cuts and slash spending after plunging iron ore prices caused a massive fall in half year profit.

VAH - VIRGIN AUSTRALIA HOLDINGS - steady, at 44 cents.

Virgin Australia has flagged a return to profitability as it announces an overhaul to its international network that will see it withdraw from some routes and increase capacity on others.