Stocks to watch on the Australian stock exchange on Wednesday December 14

BOQ – BANK OF QUEENSLAND – down seven cents or 0.97 per cent to $7.16

Bank of Queensland is optimistic about a recovery in its home state’s housing market and increasing earnings.

GNC – GRAINCORP – down eight cents or 0.65 per cent to $12.30

GrainCorp has again knocked back a takeover offer from US food processing giant Archer Daniels Midland Company (ADM).

VAH – VIRGIN AUSTRALIA – down one cent or 2.3 per cent to 42.50 cents

Tourism Australia has moved quickly to make up for loss of funding from Qantas by signing a new $12 million marketing partnership with Virgin Australia.

WBC – WESTPAC BANKING CORPORATION – down eight cents or 0.31 per cent to $25.98

Westpac does not expect conditions in the banking sector to improve any time soon, but says it is in good shape to deliver sound returns for shareholders.