Stocks to watch at noon on Thursday

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

IIN - IIN - down 21 cents, or 2.09 per cent, at $9.84

MTU - M2 - up 6.00 cents, or 0.54 per cent, at $11.13

TPM - TPG TELECOM - down 15 cents, or 1.66 per cent, at $8.86

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 3.5 cents, or 1.72 per cent, at $2.005

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

NEM - NEWMONT MINING - up 0.13 cents, or 0.49 per cent, at 26.48 cents

OCG - OCEANAGOLD - down 8.00 cents, or 3.28 per cent, at $2.36

Newmont Mining Corp is selling its New Zealand gold mining business in Waihi to OceanaGold for $US101 million ($A126.07 million).

QAN - QANTAS AIRWAYS - up 7.00 cents, or 2.16 per cent, at $3.31

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 21.0 cents, or 2.54 per cent, at $8.49

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 - up 0.25 cents, or 1.22 per cent, at 20.75 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 9.5 cents, or 1.50 per cent, at $6.225

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

TPM - TPG TELECOM - down 15 cents, or 1.66 per cent, at $8.86

AMM - AMCOM TELECOMMUNICATIONS - down 39.0 cents, or 14.44 per cent, at $2.31

VOC - VOCUS COMMUNICATIONS - down 12.0 cents, or 2.01 per cent, at $5.85

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

XER - XERO - down 85.0 cents, or 4.27 per cent, at $19.05

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.

Market Data

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