Stocks to watch on the Australian stock exchange:
FNP – FREEDOM FOODS – in a trading halt, last traded at $4.94
Freedom Foods says it aims to raise $200 million to help secure acquisitions as part of the company’s expansion strategy, and increase capacity.
PMV – PREMIER INVESTMENT’S – up 88 cents, or 6.1 per cent, at $15.27
Retail brands Smiggle and Peter Alexander have continued to drive Premier Investment’s net profit, which rose 9.4 per cent to $78.6 million in the first half.
WES – WESFARMERS – up $2.60, or 6.3 per cent, at $43.80
Wesfarmers plans to spin off supermarket giant Coles and create a separately listed business that would rank among the 30 largest companies on the Australian stock market. It plans to retain a 20 per cent stake in the new business