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Stocks to watch on the Australian stock exchange:

AHF – AUSTRALIAN DAIRY FARMS – up 4.5 cents, or 24.3 per cent, at 23 cents

Shares in Australian Dairy Farms have enjoyed strong gains for the second day in a row, after being up more than two thirds on Monday when the company said that it will convert to organic production for infant formula markets here and overseas.

AVB – AVANCO – up 7.8 cents, or 101.3 per cent, at 15.5 cents.

OZL – OZ MINERALS – up 10 cents, or 1.1 per cent, at $9.10

Copper miner OZ Minerals has launched a cash-and-scrip bid for Avanco that values the ASX-listed exploration firm at $444 million.

FMG – FORTESCUE – down three cents, or 0.7 per cent, at $4.58

Fortescue Metals has cut the amount it expects to receive for its iron ore shipments this year, saying slow Chinese construction and the recent Trump-inspired trade war fears are weighing on forecasts.

NCM – NEWCREST MINING – down 35 cents, or 1.7 per cent, at $19.82

Goldminer Newcrest will recommence mining at its Cadia mine in the NSW Central West after part of a tailings dam collapsed earlier this month, but processing remains suspended.