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December 18 2012, 07:51AM

Stocks to watch on the Australian stock exchange on Tuesday December 18

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.

DLX - DULUXGROUP LTD - down one cent at $3.71

Paint maker DuluxGroup holds its annual general meeting on Tuesday.

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.

FUN - FUNTASTIC LTD - steady at 22 cents

Toy distributor Funtastic holds its annual general meeting on Tuesday.

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.

IPL - INCITEC PIVOT LTD - down four cents at $3.25

Fertiliser and explosives maker Incitec Pivot holds its annual general meeting on Tuesday.

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.