Thursday, 27th June 2013 | Trading picked up today as the amount spent on stocks increased to more than $42.8 million as 4.66 million shares changed hands with 27 stocks trading resulting in 11 being up while 6 declined in price. Two new all-time closing highs were reached on the day, a third stock closed at its 52 weeks high and Lasco Financial Services closed at $12 for an all-time closing high. All indices that had stocks that traded declined marginally at the close.

Junior market | Much interest continued in the three Lasco companies as all three traded more than 500,000 units each. Lasco Distributors traded 1,090,159 units at a value of $16.978 million and Lasco Financial Services traded 518,000 at a cost of $5.73 million as the stock closed up 20 cents at $12. Lasco Manufacturing, closed off 20 cents at $15.60 with 531,000 units trading. General Accident traded 467,000 units at $2.04 accounting for $952,000, Access traded 8,988 units at new high of $8.25 while Blue Power had trading in 500,000 units, costing $5 million as the stock retreated 50 cents on the day to close at $10.

Trading took place in the stocks of 9 junior companies. All three Lasco companies approved a 10 for 1 stock split at an extra ordinary general meeting on Wednesday. The record date for the Lasco splits is July 9, 2013 and the ex-date is July 5, 2013.

Main Market | Prices generally recovered from declines earlier in the week even as the indices slipped marginally. While Berger slipped 15 cents to close at $2.30 with 19,000 shares crossing the exchange, Carreras regained $1 off of the amount which was lost yesterday recovering from the initial reaction to the proposed ban on the smoking of cigarettes in public, the stock closed at $53.50, on very small volume. Pan Jamaican gained $2.08 while trading under 3,000 units to close at $52.60, the same level as the bid. Scotia Investments put on $1 to close at $27.50 but only 1,000 units traded. The bid on the stock on Trinidad exchange is at the equivalent of J$28 and it could trade higher as there is little supply in the market currently.

IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 3 stocks were higher with 3 stocks that had offers lower than their last selling price.

Wednesday, 26 June 2013 | While in yesterday’s stock market trading, declining stocks were more than advancing ones with 11 stocks declining and 8 gaining in price, today’s trading not only reversed the negative trend but clobbered declining stocks 16 to 6 with three stocks closing at new 52 weeks high.

The junior market index inched up marginally, to close at 796.02 up 7.19 points. The all Jamaica index declined by 229.71 points to close at 88,512.59 and the main market slipped 127.93 points to 87,135.91 at the close. The fall in Carreras stock which fell $3.50 to $52.50 and Jamaica Producers which shed $2.65 to close at $18.05 would have been the two main contributors to the decline. Carreras was reacting to the news on a ban on cigarette smoking in public, effective July.

The number of shares traded increased over that of yesterday’s volume of 5.8 million units with a value of $58.9 million. In today’s trading 7.6 million shares traded, but for a lessor amount of $36.7 million as Cable & Wireless which pulled in only $524, 000 accounted for more than 3.78 million of the volume that went through the market.

Junior market | Eight stocks traded in the junior market with 7 increasing in price. Dolphin Cove closed up 20 cents at a 52 weeks high of $8.65 with 6,200 shares. Lasco Manufacturing traded 135,128 shares between $15.50 and $16 but closed at $15.80 up 25 cents. Lasco Distributors traded 823,740 shares while gaining 22 cents to close at $15.77. Lasco Financial Services closed at an all-time closing high after the stock traded at $11.80 up 25 cents while trading 152,327 units. The stock traded as high as $12.50 during the day.

Main Market | Although the overall market enjoyed nearly $36.7 million of trading, $17 million came from the junior market with the two large Lasco companies continuing to be dominant in the market. Carreras was the big loser today and for the week to date, as investors shed 31,000 shares at prices that were all lower than yesterday’s close. Jamaica Producers shed $2.65 but with only 3,200 shares trading. Companies that had noticeable price action included Carreras which lost $1.40 to close at $56.50, Desnoes & Geddes gained back the 20 cents it lost yesterday to close at $5 with small volume trading. Grace also traded a small volume but the stock closed at $60, up 40 cents. Sagicor Life dropped 40 cents, closing at $8.40 with 11,157 units trading. Scotia Group traded 373,951 shares with the stock closing at $21.20 the same as yesterday.

IC bid-offer Indicator | At the end of trading, the IC bid-offer sentiment indicator shows that bids for 3 stocks were higher, with 2 stocks that had an offer that was lower than their last selling price — not a very bullish sign at this time.