Some share price moves to keep an eye on in the market:
SIGNATURE BRANDS (SBL) at 40c: First day of trading. The tightly-held 20c shares opened at 30c. Signature Brands markets apparel, confectionary, swimwear and wine. Its Koala Blue Wines are already sold in the major consumer markets of the US, Canada and Japan, as well as 20 other countries. Other brands include Brian Rochford and Olivia.
UNITRACT (UNI) down 30c to $1.87: Dropped as low as $1.65 following a weekend newspaper article. In a statement today, chairman David Riekie said: "The article is undeserving of any specific comment. The board is of the opinion that our CEO, Mr Alan Shortall, is the target of an unprovoked attack on his credibility."
WORLEY GROUP (WOR) up 24c to $3.29: Opened as high as $3.50. Today confirmed its 35pc-owned joint venture had won a contract worth up to $US800 million ($A1.04bn) for the restoration of oil infrastructure in Iraq with the US Army Corps of Engineers.
NATIONAL AUSTRALIA BANK (NAB) down 20c to $20.72: Plumbed an early low of $29.60 after increasing its pre-tax loss from foreign currency options trading to $185 million, from the original estimate of $180 million. CEO Frank Cicutto said the bank was undertaking a market revaluation of the remaining portfolio that was expected to lead to additional losses.
TRIAKO (TKR) up 2c to $1.87: Today reported the mine cash surplus for the December quarter was $4.8 million, up from $4.7 million in the previous quarter. At the Mineral Hill Mine, a gold feed grade of 14.8g/t resulted in quarterly gold production of 18,127 ozs, down from 21,248 ozs. Gold production for the first half was 39,375 ozs, up from 27,350 ozs.
PALM SPRINGS (PSG) up 1c to 35c: Touched 37c after the spring water supplier announced a home delivery service in association with the launch of Sunbeam Australia's spring water chiller. Australia Post will deliver the water to homes around the country.
WMC RESOURCES (WMR) up 19c to $5.27: Making up Friday's fall. Brokers have upgraded their forecasts for the mining heavyweight after it reported record levels of nickel and fertiliser production in the fourth quarter.
AMP (AMP) down 5c to $4.78: Continues to retreat. AMP has boasted its Australian business had lifted net flows from $522 million in the first half to $956 million in the second half but analysts pointed out net inflows had exceeded $4 billion in fiscal 2001. ENDS !END