Stocks to watch on the Australian stock exchange at close: BEN - BENDIGO AND ADELAIDE BANK LTD - up nine cents to $9.87 Bendigo and Adelaide Bank has followed the major banks and increased its variable home and business loans by 25 basis points. RIO - RIO TINTO LTD - up 53 cents to $74.40 BHP - BHP BILLTION LTD - up 61 cents to $42.28

Australian miners are set to benefit from a sharp jump in benchmark prices for iron ore as Chinese steel mills are reportedly ready to accept the increase. CTO - CITIGOLD CORPORATION LTD - up 0.7 cents to 9.8 cents Citigold Corporation's aim of hugely increasing production at its flagship project have been boosted, after it signed a non-binding development deal with a Chinese company.