03/06/05 Stock exchange news...Back on Brambles

It appears one of the sharemarket's most enduring takeover rumours still has some legs. Shares in Brambles rose 3 per cent or 24c yesterday to $8.29 after its long-time shareholder, GE Asset Management, issued a notification of its interests in the company.

Despite GE advising that its stake remained unchanged at 4.96 per cent, it appears some Brambles investors get excited whenever they see the General Electric name.

Talk of a GE takeover helped Brambles' share price rocket twice in 2003.

Brambles, whose price is up 40 per cent since November - at $8.29 yesterday, it was good buying at $4.50 in 2003 - will have its next chance to prove its CHEP pallet business is on the recovery trail on June 22 when it provides its trading update.