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

BKN – BRADKEN LTD – down 19 cents, or 4.85 per cent, at $3.73

Troubled heavy engineering group Bradken will shed 10 per cent of its workforce as part of a major restructure.

ELD – ELDERS LTD – up 0.25 cents or two per cent, at 11.75 cents

Agribusiness Elders has posed a half year loss of $10.2 million, but its performance continues to improve as it streamlines its business.

LEI – LEIGHTON – down 41.5 cents, or two per cent, to $20.135

The new head of construction giant Leighton has vowed to cut costs and recover outstanding payments as its parent company takes greater control of the company.

Germany-based and Spanish-owned construction company Hochtief recently increased its stake in Leighton to almost 70 per cent, as it sought to overhaul the company’s board.

RIO – RIO TINTO LTD – down $1.465, or 2.4 per cent, at $60.485

Mining giant Rio Tinto expects to sign an agreement to push ahead with the troubled $US20 billion ($A21.64 billion) Simandou iron ore project in Guinea.