Luggage maker carries the day

LUGGAGE manufacturer Pam & Frank was one of the best performing stocks yesterday, rising 8.6 per cent to close nine cents higher at $1.13 on $56 million turnover.

The company has been a poor performer since it was relisted this year, but a pick-up in orders from the United States is believed to be helping.

Pam & Frank, which is one of the territory's largest bags maker, exports to major US accounts like K Mart.

Hanny Magnetics shares continued to rise following the announcement that Hutchison would put in its senior people to run the company.

Hanny shares closed five cents higher at $1.10.

Benelux shares also saw a respite from the recent heavy selling, with the price recovering one cent to 71 cents.

The company had been heavily sold down over the last two weeks on concerns that its profits would be hit by tough price-cutting wars on floppy disks in the US.

Shell Electric shares had a bad day, falling 5.2 per cent to close 20 cents lower at $3.575.

Pager maker Champion Technology saw some profit-taking in its stock after a strong rise over the last two days, finishing 12.5 cents lower at $2.475.

Heavy trading in Uniworld shares saw its price rise 0.2 cents to 3.9 cents.