Stocks to watch on the Australian stock exchange on Wednesday, Oct 8:

NCM – NEWCREST MINING – up four cents, or 0.4 per cent, at $10.00

Gold miner Newcrest is sticking with its full year production target, despite a 12 per cent slump in output during the September quarter.

POH – PHOSPHAGENICS – down 0.1 cents, or 1.2 per cent, at 8.4 cents

Biotech Phosphagenics has reported positive results from its phase II clinical trial of its treatment for acne.

REG – REGIS – up 37 cents, or 10.1 per cent, at $4.02

Shares in aged care provider Regis Healthcare have jumped in their first day of trading on the Australian Securities Exchange.

RIO – RIO TINTO – up $2.48, or 4.3 per cent, at $60.07

Global miner Rio Tinto has confirmed that resources group Glencore has approached it about a merger but says it’s rejected the offer.