Stocks to watch on the Australian stock exchange on Wednesday, October 10:

ARI – ARRIUM LTD – down 2.25 cents, or 2.78 per cent, at 78.75 cents

Arrium has acted to boost its balance sheet against a takeover by selling its majority stake in a New Zealand steel company for $74 million.

BBG – BILLABONG INTERNATIONAL LTD- up 1.5 cents, or 1.5 per cent, at $1.025

Troubled surfwear retailer Billabong has appointed actuary and Rhodes scholar Dr Ian Pollard as its chairman elect.

FLT – FLIGHT CENTRE LTD – down 11 cents, or 0.44 per cent, at $25.04

Flight Centre staff were told to stop selling Singapore Airlines flights after the carrier refused a request to engage in price fixing, a court has heard.

LEI – LEIGHTON HOLDINGS LTD – up 10 cents, or 0.57 per cent, at $17.62

Victoria’s $6.1 billion desalination plant is another step closer to completion after passing several key tests in recent weeks.

OSL – OIL SEARCH LTD – up 24 cents, or 3.2 per cent, at $7.78

KPL – KINA PETROLEUM LTD – up three cents, or 8.2 per cent, to 39.5 cents

Oil Search has signed five licensing agreements with gas giant Total to operate in Papua New Guinea (PNG).

TCL – TRANSURBAN GROUP – up one cents to $6.19

Transurban Group will release its first quarter traffic report on Wednesday.