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Stocks to watch

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AAP

2013-02-04

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

AQA - AQUILA RESOURCES LTD - down 12 cents at $3.00

Aquila Resources shares were more than four per cent lower after the minerals explorer was unable to agree on a proposed budget for its West Pilbara Iron Ore Project.

ARG - ARGO INVESTMENTS LTD - down six cents at $6.65

Argo Investments does not expect strong earnings growth from Australian companies this year, although investor confidence should improve.

FMG - FORTESCUE METALS GROUP LTD - steady at $4.79

Fortescue Metals has agreed to stop work on the development of Iron Ore Holding's Iron Valley deposit in Western Australia.

GMG - GOODMAN GROUP - down two cents at $4.62

Property developer Goodman Group says it will start developing new projects worth about $451 million across key Australian markets.

QAN - QANTAS AIRWAYS LTD - steady at $1.54

Qantas plans to broaden the number of destinations it flies to in Asia as part of its new alliance with Emirates.

RIO - RIO TINTO LTD - up 79 cents at $67.99

The world's second largest iron ore miner Rio Tinto's $3 billion expansion of a Pilbara mine has been approved by the West Australian government.