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

ANZ – ANZ BANKING GROUP LTD – down 20 cents at $21.42

Banking Group has raised its variable interest rates for retail mortgages and small business loans by 0.06 per cent.

The move follows the Reserve Bank of Australia’s (RBA) decision on Tuesday decided to leave the cash rate on hold at 4.25 per cent.

AAI – ALCOA INCORPORATED – down 11 cents at $14.45

Teasurer Wayne Swan says the federal government won’t be writing a “blank cheque” to bail out the aluminium industry.

JBH – JB HI-FI LTD – last traded at $11.99

JB Hi-Fi Ltd is due to post first-half results on Monday.

JHX – JAMES HARDIE INDUSTRIES SE – down 21 cents at $7.22

James Hardie will receive more than $300 million after winning a legal dispute with the Australian Taxation Office (ATO).

LEI – LEIGHTON HOLDINGS LTD – down 62 cents at $23.85

Construction company John Holland has been awarded a $220 million contract to build works at a Queensland coal terminal.

The Leighton Holdings subsidiary will begin work on the Wiggins Island Coal Export Terminal (WICET) project at Golding Point in Gladstone Harbour later this year.

Leighton is due to post first-half results on Monday.

NCK – NICK SCALI LTD – down eight cents at $1.47

Furniture retailer Nick Scali has reported an 11 per cent drop in profits for the second half of last year as expansion costs ate into increased sales revenue.

NCM – NEWCREST MINING LTD – up 57 cents at $34.01

Newcrest Mining’s first-half profit has grown by 50 per cent to a record high, due to higher sales of gold, silver and copper.

SGT – SINGAPORE TELECOMMUNICATIONS LTD – last traded at $2.29

Singapore Telecommunications Ltd is due to post third-quarter results on Monday

TSE- TRANSFIELD SERVICES LTD – up 23.5 cents at $2.20

Transfield Services says its net profit for the 2012 financial year will be towards the lower end of its previous forecasts.