The Jamaica Stock Exchange main market declined as the prices of 26 stocks tumbled and just 4 rose on Tuesday and just 7 closed with the prices unchanged as 37 securities changed hands in both the main and US dollar markets.
At the close of trading, the All Jamaican Composite Index declined by 2,056.84 points to 549,065.37, the JSE Index falling 1,863.72 points to 499,913.05 and The JSE Financial Index that was started early this year, inched just 0.04 points lower, to end at 136.62.
Main market activity ended with 35 securities trading, resulting in 29,682,285 units valued at $61,647,404 in contrast to 31,484,701 units valued at $125,777,352 from 34 securities trading on Friday.
Wigton Windfarm led trading with 20.7 million units for 70 percent of total volume, followed by Sagicor Select Funds with 7.1 million shares for 24 percent of the market’s trade and QWI Investments 635,758 units accounting for 2 percent of the day’s trade.
The market closed with an average of 848,065 units valued at $1,761,354 for each security traded, in contrast to 1,015,636 units for an average of $4,057,334 on Friday. 
The average volume and value for the month to date amounts to 924,647 shares at a value of $14,346,378 for each security traded and previously 929,723 shares at $15,239,838 for each stock traded. The market closed September with an average of 1,585,081 units valued at $14,071,562 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer reading shows 13 securities ended with bids higher than their last selling prices and 2 with lower offers. The PE ratio of the market ended at 16.2 with the main market ending at 16.8 times 2019 current year’s earnings.
In main market activity, Barita closed 45 cents lower to $78.50, after trading 14,950 shares, Berger Paints ended at $1 and lost 50 cents in swapping 1,222 shares, Carib Cement dived $2.50 trading 35,679 shares, in closing at $73.50. Grace Kennedy declined by $3.45 to close at $66.05 with 21,438 shares changing hands, Jamaica Broilers lost $1 in exchanging 13,265 shares to settle at $34, Jamaica Producers closed $3.30 lower to $21.20 while trading 134,912 shares, Jamaica Stock Exchange dropped 50 cents at $28 with 42,794 shares traded. JMMB Group slid to $41, losing $1.50 in swapping 14,777 shares. 
Kingston Wharves lost 39 cents to settle at $60 trading 629 shares, NCB Financial closed $4 lower to $201 with an exchange of 51,820 shares, Portland JSX fell by 97 cents to $8, after trading 3,600 shares, Sagicor Group settled at $66.55, after losing 95 cents with 21,890 shares changing hands. Salada Foods closed $3 lower to $25, in swapping 1,198 shares, Scotia Group dropped $3 and ended at $57 in exchanging 2,650 shares, Seprod lost $1.98 to close at $51.02 after exchanging 7,454 shares and Supreme Ventures closed $1.60 lower to $25.15 with 15,953 shares changing hands.
Trading in the US dollar market ended with 583,847 units valued at $147,169 and the market index closed at 196.73. Proven Investments traded 503,847 units to close at 27 US cents and Sygnus Credit Investments ended the day’s trading at 13.9 US cents, after falling a fraction of 1 US cent with 80,000 shares changing hands.
Big drop for Junior Market index – Tuesday
The Jamaica Stock Exchange Junior Market Index dropped 49.65 points to 3,348.16 after trading resumed on Tuesday after the heroes’ holiday break on Monday.
At the close of market activities, 31 securities changed hands, the same number that traded on Friday and closed with the prices of 8 securities rising, 13 declining while 10 remained unchanged.
Trading closed on Tuesday with an exchange of 3,394,559 units valued at $18,938,756 compared to 808,904 units valued at $3,245,147 on Friday.
Trading ended with an average of 109,502 units for an average of $610,928 in contrast to 26,094 units for an average of $104,682 on Friday. The average volume and value for the month to date amounts to 99,232 units for an average of $491,877 and previously 120,361 units valued at $482,941 for each security traded. In contrast, September closed with an average of 954,574 units valued at $2,612,695 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 2 stocks ended with bids higher than their last selling prices and 3 with lower offers.
At the close of the market, Access Financial lost $2.44 exchanging 15,498 shares to close at a 52 weeks’ low of $32, AMG Packaging dipped 23 cents in trading 513,472 units to close at $1.70, Caribbean Flavours dropped $1.50 in exchanging 400,000 shares to close at $12 after trading at a 52 weeks low of $10.50 earlier. Caribbean Producers slipped 10 cents and exchanged 3,250 shares at $4.70, Derrimon Trading lost 4 cents trading of 32,512 units at $2.43. Elite Diagnostic climbed 5 cents and exchanged 4,453 shares to end at $5.60, Everything Fresh ended trading 25,598 shares, after rising 2 cents to end at $1.25. Express Catering declined by 21 cents to settle at $5.92 after exchanging 9,240 shares, Fontana ended market activity exchanging 48,722 shares to close at $7.25 after falling 27 cents, Fosrich rose 7 cents in trading of 2,500 units to close at $4.91, General Accident gained 24 cents in swapping of 113,470 units at a record high of $8.24. 
Honey Bun lost 45 cents trading 7,028 units to close at $6.70, Jamaican Teas gained 9 cents with 19,125 units changing hands to end at $6.30, Jetcon Corporation ended trading with 57,060 shares, after rising 1 cent to end at $1.86. KLE Group shed 24 cents to end at $1.76 with 3,321 stock units trading, Knutsford Express closed trading of 4,446 units and gained 40 cents to end at $11, Lasco Distributors closed trading of 2,880 units and lost 8 cents to end at $3.90, Lasco Manufacturing closed trading of 1,375,455 units and fell 12 cents to end at $4.85. Limners and Bards ended with a loss of 3 cents at $2.52 with 33,046 stock units changing hands, Medical Disposables lost 81 cents to end at $7.30, after trading 7,700 shares and SSL Venture ended trading of 4,331 shares and rose 15 cents to end at $1.35.
Prices of securities trading for the day are those at which the last trade took place.
TBill rates drop to 1.55%
Rates on Government of Jamaica Treasury bill dropped to 1.55 percent on the 30 days instrument in the latest issue auctioned on Wednesday, October 16.
The fall in rates follows applications for $2.2 billion of the Government of Jamaica Treasury Bills on offer and resulted in a notable fall in the average rates compared to the results at the September auction.
The October auction attracted $5.9 billion in bids, resulting in the 91 days instrument due January 2020, yielding an average rate of 1.54966 percent. The 182 days instrument due April 2020, produced an average rate of 1.64864 percent and the 273 days due July 2020, averaged 1.80915 percent.
In September auction resulted in an average yield of 1.74141 percent for the 91 days Instrument and 1.75085 percent for the 182 days with $4.6 billion chasing the $1.4 billion on offer. The previous 273 Treasury bill average yield was 2.00534 percent in August.
In October 2018, yields on the 182 days Treasury bill averaged 1.88 percent, then rose to 2.32 percent at the February 2019 auction and started to decline at the next auction in March.
Rates have fallen from 9.12 percent in December 2012 and 9.11 percent in March 2014 and are well below the lowest rates on record. The trend suggests that rates seem poised to fall further.
More trading higher prices for JSE
The Jamaica Stock Exchange main market moved higher on greater volume and value than on Thursday with the JSE All Jamaican Composite Index gaining 2,291.72 points to 551,122.21 and the JSE Index rising 2,582.15 points to 501,776.77.
At the same time, the JSE Financial Index that measures all the stocks in this sector in the three JSE markets rose 0.91 points to close at 136.66. Trading ended with 34 securities changing hands in the main and US dollar markets with 15 stocks advancing, 9 declining and 10 trading firm. Main market activity ended with 34 securities trading, resulting in 31,484,701 units valued at $125,777,352 in contrast to 22,536,647 units valued at $48,207,025 from 38 securities trading on Thursday.
Wigton Windfarm led trading with 24.5 million units for 78 percent of total volume, followed by Sagicor Select Funds with 3.1 million shares for 10 percent of the market’s trade and Wisynco Group with 2.3 million units accounting for 7 percent of the day’s trade.
The market closed with an average of 1,015,636 units valued at $4,057,334 for each security traded, in contrast to 593,070 units for an average of $1,268,606 on Thursday and well below the averages for September. The average volume and value for the month to date amounts to 929,723 shares at a value of $15,239,838 for each security traded and previously 924,365 shares at $15,990,179 for each stock traded. The market closed September with an average of 1,585,081 units valued at $14,071,562 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer reading shows 8 securities ended with bids higher than their last selling prices and 5 with lower offers. The PE ratio of the market ended at 16.5 with the main market ending at 17.2 times 2019 current year’s earnings.
In main market activity, Berger closed $1.40 lower to settle at $18.50 with an exchange of just 200 shares, Carreras lost 25 cents trading 68,902 shares and ending at $8, Eppley Caribbean Property Fund declined by $2 to $38 with 64,000 shares changing hands, JMMB Group slid by 49 cents to $42.50, in swapping 19,461 shares. 
Kingston Wharves gained 39 cents to settle at $60.39 trading a mere 143 shares, NCB Financial added $1.01 with an exchange of 58,763 shares to close at $205, PanJam Investment closed $2 higher at $102, after trading 5,142 shares, Proven Investments gained 50 cents to close at $40.50 with 4,804 shares changing hands. Pulse Investments lost 48 cents to settle at $4.50, after trading 67,479 shares. Scotia Group closed $4 higher at $60, in swapping 431,386 shares, Seprod gained $2.40 and ending at $53 after trading 11,114 shares and Sygnus Credit Investments closed 86 cents down to $22.38 with 20,021 shares changing hands.
Trading in the US dollar market ended with 61,969 units valued at $15,558 and the market index lost 0.01 point to end at 196.73. Proven Investments traded 46,469 units to close at 27 US cents from 26.98 cents on Thursday, Sygnus Credit Investments ended the day’s trade at 14 US cents after exchanging 14,500 shares and JMMB Group 6% preference shares closed at 99 US cents in swapping 1,000 shares.
Junior Market volume dives – Friday
Junior Market volume contracts on Friday.
Trading on the Junior Market of the Jamaica Stock Exchange dropped sharply from Thursday’s level closed on Friday resulting in an exchange of just 808,904 units valued at $3,245,147 compared to 3,496,347 units valued at $14,565,501 on Thursday.
At the close of market activities, 31 securities changed hands, similar to the number trading on Thursday and closed with the prices of 11 securities rising, 13 declining and 7 remained unchanged, resulting in the Junior Market Index gaining 11.47 points to close at 3,397.81.
Trading ended with an average of 26,094 units for an average of $104,682 in contrast to 112,785 units for an average of $469,855 on Thursday. The average volume and value for the month to date amounts to 120,361 units valued at $482,941 and previously 104,334 units valued at $513,637 for each security traded. In contrast, September closed with an average of 954,574 units valued at $2,612,695 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 3 stocks ended with bids higher than their last selling prices and 5 with lower offers.
At the close of the market, AMG Packaging dipped 7 cents in trading 27,000 units to close at $1.93, Caribbean Cream lost 57 cents in exchanging 52,912 shares to close at a 52 weeks’ low of $3.95, Caribbean Producers climbed 10 cents and exchanged 1,200 shares at $4.80. Consolidated Bakeries ended with a loss of 1 cent at $1.99 with 16,934 stock units changing hands, Derrimon Trading lost 3 cents in trading of 100 units at $2.47, Express Catering declined by 2 cents to settle at $6.13 after exchanging 5,500 shares, Everything Fresh ended trading with 30,000 shares, after rising 3 cents to end at $1.23. Elite Diagnostic climbed 5 cents and exchanged 15,000 shares at $5.55, Fosrich lost 6 cents in trading of 14,680 units at $4.84, Fontana ended market activity exchanging 83,638 shares to close at $7.52 after falling 36 cents, General Accident declined 2 cents in trading of 41,110 units at $8. iCreate lost 2 cents in trading of 123,700 units to close at 71 cents, Indies Pharma ended with a loss of 1 cent at $3.16 with 45,555 stock units changing hands, 
Jamaican Teas declined 9 cents in trading of 19,125 units to end at $6.21, Jetcon Corporation ended trading with 45,528 shares, after rising 5 cents to end at $1.85. Knutsford Express closed trading of 150 units and gained 60 cents to end at $10.60, Lasco Distributors closed trading of 1,889 units and gained 22 cents to end at $3.98. Lasco Financial ended market activity exchanging 45,463 shares to close at $4.70 after falling 15 cents, Lasco Manufacturing closed trading of 17,115 units and gained 2 cents to end at $4.97. Limners and Bards ended with a loss of 1 cent at $2.55 with 89,957 stock units changing hands, Main Event traded 13,834 shares, after rising 63 cents to end at $5.98. Medical Disposables gained $1.11 to end at $8.11, trading 100 shares, Stationery and Office Supplies gained $1.34 to end at $12.50, after exchanging 5,850 shares and SSL Venture ended trading of 40,500 shares and rose 5 cents to end at $1.20.
Prices of securities trading for the day are those at which the last trade took place.
JSE majors steady on low volume
The Jamaica Stock Exchange main market inched higher on higher volume but lower value than on Wednesday with the market appearing to find support at current levels after falling more than 6 percent from the peak in the first week in August.
At the close the JSE All Jamaican Composite Index added just 104.29 points to close at 548,200.49, the JSE Index gained 189.56 points to 499,194.62 and the JSE Financial Index rose 0.15 points to 135.75.
Trading ended with 39 securities changing hands in the main and US dollar markets with 12 stocks advancing, 15 declining and 12 trading firm. Main market activity ended with 38 securities trading, resulting in 22,536,647 units valued at a mere $48,207,025, in contrast to 13,077,566 units valued at $68,716,819 from 37 securities trading on Wednesday.
Wigton Windfarm led trading with 10.6 million units for 47 percent of total volume, followed by Sagicor Select Funds with 10.2 million shares for 45 percent of the market’s trade and QWI Investments with 656,908 accounting for 3 percent of the day’s trade.
The market closed with an average of 593,070 units valued at $1,268,606 for each security traded, in contrast to 353,448 units for an average of $1,857,211 on Wednesday. The average volume and value for the month to date amounts to 924,365 shares at a value of $15,990,179 for each security traded and previously 951,792 shares at $17,309,566 for each stock traded. The market closed September with an average of 1,585,081 units valued at $14,071,562 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer reading shows 5 securities ended with bids higher than their last selling prices and 2 with lower offers. The PE ratio of the market ended at 16.6 with the main market ending at 17.3 times 2019 current year’s earnings.
In main market activity, Eppley rose 75 cents to close at $16.85 with a mere 220 shares changing hands, Grace Kennedy added $2.80 to close at $69.60 trading 8,315 shares, Jamaica Producers lost 67 cents with 5,209 shares changing hands in closing at $24.70, JMMB Group gained $1.89 to end at $42.99 in swapping 40,735 shares. 
Kingston Wharves dropped 99 cents to settle at $60 in trading 2,756 shares, Mayberry Investments lost 37 cents to close at $8.33 with 12,292 shares changing hands, Mayberry Jamaican Equities closed 35 cents lower at $10.80 with 7,244 shares crossing the exchange. MPC Caribbean Clean Energy traded just 100 shares, in gaining $36.94 to close at a record high of $190, NCB Financial advanced $3.93 with an exchange of 14,302 shares to close at $203.99, PanJam Investment declined by $1 and closed at $100 after trading 3,608 shares, Sagicor Group added 50 cents, after 35,923 shares changed hands to settle at $67.50.Scotia Group closed $3.50 lower at $56, after swapping 27,482 shares, Seprod lost 40 cents to settle at $50.60 trading 14,505 shares and Stanley Motta closed 40 cents lower to $5.60 with 126,539 shares changing hands.
Trading in the US dollar market ended with Proven Investments being the sole stock trading 9,717 units valued at $2,622 to close at 26.98 US cents with the market index gaining 0.08 points to 196.74.
Junior Market trading dips – Thursday
The Junior Market of the Jamaica Stock Exchange ended on Thursday with 31 securities changing hands, resulting in an exchange of 3,496,347 units valued at $14,565,501, down from 4,941,772 units amounting to $18,218,972 with 29 securities changing hands on Wednesday.
At the close of market activities, the prices of 7 securities advanced, 14 declined and 10 remained unchanged leaving the Junior Market Index to fall by 11.41 points to close at 3,386.34.
Trading ended with an average of 112,785 units for an average of $469,855 in contrast to 170,406 units for an average of $628,240 on Wednesday. The average volume and value for the month to date amounts to 104,334 units valued at $513,637 and previously 103,587 units valued at $517,504 for each security traded. In contrast, September closed with an average of 954,574 units valued at $2,612,695 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 2 stocks ended with bids higher than their last selling prices and 3 with lower offers.
At the close of the market, Access Financial traded 800 shares and gained 44 cents to end at $34.44, Blue Power gained $1.37 to end at $7.75, trading 3,378 shares, Cargo Handlers ended with a loss of $1 at $10 with 1,000 stock units changing hands. Derrimon Trading ended market activity exchanging 7,336 shares to close at $2.50 after falling 5 cents, Express Catering climbed 23 cents and exchanged 26,260 shares at $6.15. Everything Fresh dipped 5 cents in trading of 44,000 units at $1.20, Fosrich ended with a loss of 1 cent at $4.90 with 2,760 stock units changing hands, General Accident closed trading of 36,500 units and gained 52 cents to end a record high of $8.02. Honey Bun closed trading of 66,850 units and gained 18 cents to end at $7.15, Indies Pharma lost 13 cents in trading of 53,121 units at $3.17, Iron Rock Insurance dipped 5 cents trading 92,527 units at $3.95, 
Jamaican Teas ended market activity in exchanging 123,313 shares to close at $6.30 after falling 5 cents. Knutsford Express fell 99 cents with 17,735 units at $10 crossing the exchange. Lasco Distributors fell 14 cents in trading of 1,512,271 units at $3.76, Lasco Financial ended exchanged 7,400 shares, after rising 25 cents to end at $4.85, Limners and Bards closed 6 cents higher at $2.56, with 130,664 stock units changing hands. Medical Disposables closed with a loss of 10 cents at $7, in swapping of 3,000 shares, Main Event declined 15 cents in trading of 4,000 units at $5.35. Paramount Trading declined by 7 cents to settle at $2.18 with 157,000 shares changing hands, SSL Venture shed 5 cents trading 6,400 units at $1.15 and tTech dipped 39 cents in trading of 610 units at $6.40.
Prices of securities trading for the day are those at which the last trade took place.
JMMB Group seeks buyers for J$12.4b
JMMB Group is offering 266,737,797 ordinary shares to the public with the option to upsize it to 325 million units and raise up to J$12.4 billion that would lift the existing capital from 1,630,552,532 units to 1.96 billion.
The shares are priced at J$38 for existing shareholders, team members and key investors and J$38.75 for non-reserved share applicants resident in and making applications in Jamaica. Subject to receipt of regulatory approvals for the Invitation in Trinidad and Tobago, TT$1.90 per new ordinary share for existing shareholders and team members and key investors for applicants resident in and making applications in Trinidad and Tobago and TT$1.94 per new ordinary share for non-reserved share applicants.
The offer opens in Jamaica on October 22 at 9 am and in Trinidad and Tobago on October 25 at 9 am and scheduled to close on November 7. The Company reserves the right to close the offer prior to the closing date, provided that, early closure of the application list in Jamaica shall not occur prior to the end of a period of seven days following the Opening Date.
JMMB Group enjoyed moderate growth in earnings over in the past three years with earnings per stock unit for the 2019 fiscal year being $2.34 just slightly higher than the $2.18 in the previous year and $2.03 in 2017 after it jumped from $1.39 in 2016. Total comprehensive income better reflects the quality of management of the operation, by this measure with the exception of 2017 when total comprehensive income hit $4.76 billion profit have not reached that level since, with 2019 hitting $3.4 billion. Dividend payout ratio declined from 26.24 percent in 2016 to 20.65 percent in 2019 although the total amounts paid out have grown.
The group started in Jamaica in 1992 as a broker in money market instruments and expanded into other areas in the financial market since. It now has operations in the Dominican Republic and Trinidad and Tobago and plans to use some of the proceeds to acquire indirectly 22 percent of Sagicor Financial Corporation, a Caribbean based Life insurance group.
Earnings per share amounted to 68 cents for the quarter ended in June this year, up from 57 in the June 2018 first quarter. Net profit recorded year over year growth of 17 percent moving from $957 million to J$1.12 billion for the first quarter this financial year.
Net operating revenue stood at J$5.84 billion as at the end of the period representing growth of 25 percent or J$1.18 billion over the prior comparable period. This growth resulted from increases in net gains on securities trading, FX trading gains, fees and commission income and net interest income. Net interest income grew 6 percent over the prior comparable period ending the June 2019 quarter at J$2.2 billion. Operating expenses for the reporting period totaled J$3.84 billion, 15 percent higher than the prior period.
JMMB Group has a number of positives, the main one being the diversification of countries it operates in. Growth in the Jamaican economy and the substantially larger population of the Dominican Republic relative to Jamaica and Trinidad provides a strong platform for above-average growth of the group. There are political and economic risks associated with the diverse locations but the group capital base is growing and that will allow it to expand the business into areas that can deliver an above-average return.
The price the stock is offered at is fair with modest potential for growth short term with a PE around 14 times this year’s earnings versus a market average of 16, but the stock peaked at J$55 earlier this year.
Modest gains for JSE majors
The Jamaica Stock Exchange main market climbed marginally on lower volume and value with the JSE All Jamaican Composite Index adding just 166.56 points to close at 548,096.20, the JSE Index rising 168.54 points to 499,005.06 and the JSE Financial Index slipping 0.59 points to 135.60.
Trading ended with 40 securities changing hands in the main and US dollar markets with 14 stocks advancing, 14 declining and 12 trading firm. Main market activity ended with 37 securities trading, resulting in 13,077,566 units valued at $68,716,819 in contrast to 40,595,146 units valued at $1,769,588,600 from 36 securities trading on Tuesday.
Wigton Windfarm led trading with 6.3 million units for 48 percent of total volume, followed by Sagicor Select Funds with 3.4 million shares for 26 percent of the market’s trade and QWI Investments with 2 million units accounting for 14 percent of the day’s trade.
The market closed with an average of 353,448 units valued at $1,857,211 for each security traded, in contrast to 1,127,643 units for an average of $49,155,239 on Tuesday. 
The average volume and value for the month to date amounts to 951,792shares at a value of $17,309,566 for each security traded and previously 1,004,254 shares at $18,786,922 for each stock traded. The market closed out September with an average of 1,585,081 units valued at $14,071,562 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer reading shows 13 securities ended with bids higher than their last selling prices and 2 with lower offers. The PE ratio of the market ended at 16.5 with the main market ending at 17.2 times 2019 current year’s earnings.
In main market activity, Caribbean Cement lost 81 cents to close at $76 with 10,346 shares changing hands, Grace Kennedy gained 45 cents to close at $66.80 after exchanging 34,590 shares, Jamaica Broilers closed $1.94 higher in trading 23,816 shares to settle at $35,Jamaica Producers advanced by $4.07 with 8,063 shares changing hands in closing at $25.37. Jamaica Stock Exchange lost 50 cents, ending at $28.50 with 35,156 units traded, JMMB Group closed 90 cents lower to $41.10 in swapping 157,024 shares after the company announced the issue price for the ordinary shares to raise up to $12.4 billion at up to $38.70 each. Mayberry Investments lost 30 cents to settle at $8.70 with 5,300 shares changing hands, PanJam Investment gained 75 cents, in closing at $101 after trading 18,654 shares, 
Pulse Investments closed 51 cents higher to a new closing high of $5 in an exchange of 226,000 shares. Salada Foods fell by $1.30 to $28 with 11,200 shares traded, Scotia Group advanced by $3.30, after 13,966 shares changed hands to settle at $59.50, Supreme Ventures gained 45 cents to close at $26.50 with 26,155 shares being exchanged and Sygnus Credit Investments lost 67 cents, in closing at $23.03 after trading 4,582 shares.
Trading in the US dollar market ended with 331,909 units valued at $79,101 and the market index dipped 0.02 points to 196.66. Proven Investments exchanged 285,009 units to close at 26.98 US cents, Sterling Investmentsended at 3 US cents after losing 0.03 of a US cent trading 38,000 shares and Sygnus Credit Investmentslost 0.01 of a US cent to close at 14 US cents with 8,900 shares changing hands.
Junior Market in steady trading – Wednesday
Junior Market trades
Trading on the Junior Market of the Jamaica Stock Exchange concluded trading on Wednesday with 29 securities changing hands, similar to that on Tuesday and resulting in an exchange of 4,941,772 units valued at $18,218,972 compared to 4,509,195 units valued at $22,460,102 on Tuesday.
At the close of market activities, the prices of 10 securities advanced, 10 declined and 9 remained unchanged. The Junior Market Index advanced by 4.29 points to close at 3,397.75.
Trading ended with an average of 170,406 units for an average of $628,240 in contrast to 155,489 units for an average of $774,486 on Tuesday. The average volume and value for the month to date amounts to 103,587 units valued at $517,504 and previously 97,569 units at $507,531 for each security traded. In contrast, September closed with an average of 954,574 units valued at $2,612,695 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 5 stocks ended with bids higher than their last selling prices and 5 with lower offers.
At the close of the market, Access Financial ended with a loss of $1 at $34 with 7,626 stock units changing hands, AMG Packaging ended trading with 1,408,582 shares, after rising 2 cents to end at $2, Blue Power lost $1.12 with an exchange of 96,819 units at $6.38, Caribbean Flavours climbed 50 cents and exchanged 7,000 shares at $13.50. Caribbean Producers fell 9 cents in trading 20,000 units at $4.70. Consolidated Bakeries climbed 5 cents and exchanged 33,869 shares at $2, Fontana declined 12 cents in trading of 50,493 units at $7.88, General Accident climbed 10 cents in exchanging 9,605 shares to end at a 52 weeks’ closing high of $7.50, Honey Bun closed 15 cents higher at $6.97, with 15,700 stock units trading. iCreate ended trading with 1,532 shares, after rising 5 cents to end at 73 cents, Jamaican Teas climbed 5 cents and exchanged 3,474 shares to end at $6.35, Jetcon Corporation lost 10 cents trading of 706,870 units at $1.80, 
Knutsford Express closed 87 cents higher at $10.99, with 100 stock units trading. Lasco Financial lost 13 cents in with 390,000 shares changing hands to close at $4.60, Lasco Manufacturing ended market activity in exchanging 35,286 shares to close at $4.95 after falling 4 cents, Limners and Bards ended trading 187,195 shares to close at $2.50 after falling 5 cents. Main Event climbed 25 cents and exchanged 1,459,754 shares at $5.50, Stationery and Office Supplies lost $1.34 in trading 2,687 units, at $11.16 and SSL Venture closed 10 cents higher at $1.20, with 51,000 stock units changing hands.
Prices of securities trading for the day are those at which the last trade took place.
