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

ALZ – AUSTRALAND – up 0.50 cent, or 0.12 per cent, at $4.285

SGP – STOCKLAND – down 3.50 cents, or 0.93 per cent, at $3.745

Australand Property Group has rejected a $2.4 billion takeover offer from fellow developer Stockland.

JBH – JB HI-FI – up 11 cents, or 0.53 per cent, at $20.91

JB Hi-Fi boss Terry Smart will retire in August after 14 years with the electronics retailer.

NCM – NEWCREST MINING – up 21 cents, or 2.10 per cent, at $10.23

Newcrest Mining’s chief operating officer Sandeep Biswas will take over as the gold producer`s chief executive and managing director from July 4.

WDC – WESTFIELD GROUP – up 5.00 cents, or 0.47 per cent, at $10.73

The Victorian government has struck a deal to build a new train station at a major Melbourne shopping centre.