Caribbean Assurance Brokers up 73%

The Jamaica Stock Exchange Main and Junior Markets recorded mild declines for the year to the end of May, at the same time the Top 10 performing stocks all posted double digit gains with Caribbean Assurance Brokers landing a 73 percent increase to be the best performing stock in both markets.
Three of the top performing Main Market stocks migrated from the Junior Market, two this year and one at the end of May last year. Lasco Distributors ended as the best performing stock in the Main Market with a 44 percent gain, followed by Wigton Windfarms with 35 percent, with demand coming in to buy based on the removal of ownership restriction and General Accident another former Junior Market stock that migrated last year, up 34 percent, with profit reported in the 2023 audited accounts beating expectations and followed by 30 percent rise in the 2024 first quarter profit before taxation. First Rock gained 32 percent and Lasco Manufacturing with improved full year results over 2023 posted gains of 27 percent.
In the Main Market, Radio Jamaica is down 39 percent and Palace Amusement with a decline of 29 percent were the worst performers, the former reporting a loss for the nine months to December last year and Palace that came under selling pressure. Pulse Investment lost 19 percent and the Sagicor Group 15 percent.
In the Junior Market, Dolphin Cove is the second best performing stock with a gain of 37 percent based on improved profit and increased dividend payment and Blue Power is up 30 percent, ending as the number three winner, following improving profit. Honey Bun with improved full year and first half year results gained 23 percent followed by Derrimon Trading up 19 percent. Edufocal fell 48 percent to be the worst performing Junior Market stock followed by MFS Partners with a fall of 47 percent and CAC 2000 down 31 percent, following continued poor results. Also declining are Fontana down 22 percent and Limners and Bards had a fall of 21 percent
Helping the performance is a big jump in the volume and value of stocks traded in the Main Market with the Junior Market suffering from reduced trading compared with last year.