Stocks to watch on the Australian stock exchange early on Monday:

CMJ – CONSOLIDATED MEDIA HOLDINGS LTD – down six cents, or 1.8 per cent, at $3.24

Consolidated Media Holdings says it is not considering a sale of its 25 per cent stake in pay TV operator Foxtel, but has been in discussions which may result in a change of control at the company.

CRF – CENTRO RETAIL AUSTRALIA – down 0.5 cents, or 0.13 per cent, at $1.86

Shopping centre owner Centro Retail Australia expects lower interest rates to improve sales in its centres.

QAN – QANTAS AIRWAYS LTD – down two cents, or 1.2 per cent, at $1.605

Qantas will cut spending by a further $400 million next financial year by delaying delivery of new A380 aircraft.

LLC – LEND LEASE GROUP – down two cents, or 0.3 per cent, at $7.59

Lend Lease has won a $210 million contract to carry out earthworks for the BHP Mitsubishi Alliance in Queensland.

WBC – WESTPAC BANKING CORPORATION – steady at $22.91

Westpac has cut its standard variable home loan rate by 37 basis points to 7.09 per cent.