A D&G and Cable & Wireless market

Desnoes & Geddes (D&G) with more than 27.3 million shares and Cable & Wireless (C&W) with 7.5 million units trading, dominated Thursday’s activity, on the Jamaica Stock Exchange. Except for less than a few thousand unit virtually all of D&G shares traded, were crosses done by NCB Capital Market. The C&W trade, flowed from increased buying, following the announcement of the takeover of Flow by CWC Communications plc.
At the close of trading, the prices of 4 stocks gained and 4 declined as only 14 securities changed hands, ending in 35,240,771 units trading, valued at $129,810,630, in all market segments.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had 9 stocks with bids higher than their last selling prices and 6 stocks with offers that were lower.
Main Market| The JSE Market Index fell 350.96 points to 72,902.39, the JSE All Jamaican Composite index declined 392.43 points to close at 80,226.30 and the JSE combined index lost 210.18 points to close at 74,729.14.
Gains| IC Insider BUY RATED Cable & Wireless, finished trading with 7,481,913 units and put on 4 cents to end at 32 cents, to be the sole stock to gain at the end of trading, in the main market. The stock which was responding to news of a takeover of Columbus International, operators of Flow, enjoyed very strong bids at the close with 1,389,745 units to buy at 32 cents at the top of the bids, 2,954,100 units on the bid at 30 cents and 3,658,619 units at 28 cents. There are 2,288,839 on offer between 35 to 50 cents, an almost certain recipe for further gains to come.

With 125,000 new cell customers added between April and September, the quarterly results to September, should showed increased income and reduced losses for the quarter than was obtained in 2013, this could well add more fuel to the buying when they are released, in a few days’ time. The potential problem for buyers, is the low volume being activity sold in the entire market currently. For in addition to the volume, up to 50 cents being sold, the only others on offer are, 1,000,000 at 55 cents, 500,000 at 60 cents, 200,000 at 69 cents, 1,614,000 at 80 cents and 941,623 units at $1.
Firm| The stocks in the main market to close without a change in the last traded prices are, Jamaica Broilers closing with 24,819 shares at $4, Jamaica Money Market Brokers finished trading with 487 shares at $7, Proven Investments with 5,425 shares at 18 US cents, Radio Jamaica ended with 3,615 units to close at $1.18 and Sagicor Group closed with 50,000 shares at $9.65.
Declines| The last traded prices of stocks with losses at the end of trading, in the main market are, Caribbean Cement, ended with 105,000 units, to close 5 cents lower at $2.60, Desnoes & Geddes closed with 27,346,412 shares, valued at $125.8 million to end 35 cents down, at $4.60, Sagicor Real Estate Fund finished trading with 82,100 shares changing hands, lost 15 cents at $6.60 and Scotia Investments with 500 shares fell 9 cents, to $21.51.