Friday, 18th October 2013 | Performance in the Jamaica stock market has been struggling these last two weeks as a large pension fund liquidated its stock portfolio and has helped to drive prices down for several stocks. In addition, Carreras is suffering from negative sentiment from a poor June quarter result and concerns about demand for cigarettes caused by the smoking ban helped to aggravate the decline. As such, our Buy Rated selection have not done well in this market.
While we have failed to score in the Jamaican market, that is not the case down under in Trinidad. Jamaica Money Market Brokers supply of stocks has dried up in both markets at prevailing prices and on the Trinidad market, the price has gone up 46 percent since it made the Buy Rated list; Grace is up 25 percent, Sagicor Financial is up 7 percent, One Caribbean Media is up 5 percent and Scotia Investment 4 percent. Guardian Holdings is down 6 percent, Neal & Massy and Point Lisas are down marginally. Of course, Trinidad Cement is still up 135 percent after some profit taking but still have lots of room to run and First Citizens was up 52 percent to when we pulled the Buy Rated plug and removed it from the list.
Related posts | Carreras at $39, market down 3% in a week
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Our research is backed by published reports of the company’s performance and insights of future earnings that can be found at ICInsider.com. The final decision to buy, or not, is your personal choice.
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