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Stocks to watch at close on Monday

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Stocks to watch

ASL, AVG, BCI, CAB, CKF, GWA, MGX, MPL, REX, STO, TAH, WEB,

AAP

2012-12-17

Stocks to watch on the Australian stock exchange at the close of trade on Monday:

BBG - BILLABONG - up 4.5 cents or 4.81 per cent to 98 cents.

Shares in surfwear retailer Billabong soared but then went into a trading halt after reports said former director has made a $527 million offer for the struggling company.

BXB - BRAMBLES - down one cent or 0.14 per cent to $7.34

Pallet company Brambles has announced the acquisition of container supplier Pallecon for 135 million euros ($A170.01 million).

FMG - FORTESCUE METALS GROUP - up 16 cents or 3.71 per cent to $4.475

Debt-laden Fortescue Metals plans to sell a stake in its prized Pilbara rail and port assets, but the move has raised worries about what the loss of control will mean for it's future growth.

FXJ - FAIRFAX MEDIA - up 0.5 cents or one per cent to 51.5 cents

Shares in Fairfax Media have jumped in response to the announced sale of its remaining stake in the New Zealand-based online auction and classifieds site Trade Me.

IAG - INSURANCE AUSTRALIA GROUP - down two cents or 0.42 per cent to $4.70

Insurance Australia Group has sold its UK commercial insurance broker business for about STG10 million ($A15.41 million).

PMP - PMP LTD - down 1.5 cents, or 9.68 per cent, at 17 cents

Printing and distribution business PMP has received some welcome good news after it retained the contract to print catalogues for Woolworths.