The Junior Market Index recovered 71.51 of the 136.58 points lost on Friday, to close at 33,371.24, on Monday as 7 securities rose to a decline of 9.
At the close of trading 9 securities ended the prices closing unchanged from 23 securities changing hands, compared to 29 on Friday. Investors exchanged 2,563,014 units valued at $10,430,621, compared to 27,838,500 units valued at $164,750,850 on Friday.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading had 7 stocks ending with bids higher than their last selling prices, 5 closed with lower offers.
Trading closed with an average of 111,435 units for an average of $453,505 in contrast to 959,948 units for an average of $5,681,064 on Friday. Trading for the month to date averages 518,389 units for an average of $3,054,135 and on the prior trading day, an average of 541,966 units for an average of $3,204,801. Trading in August, averaged 244,613 units at $1,348,298 for each security traded.
At the close of trading, AMG Packaging ended with a loss of 1 cent at $1.94, in exchanging 117,200 stock units, Blue Power climbed 59 cents to $6.99, with 70,243 units changing hands, Cargo Handlers settled at $15, trading 12,189 shares, Caribbean Flavours with a loss of $1.10 in trading 3,757 stock units at $16.90, Caribbean Producers finished trading 13,662 units and rose 10 cents to $6.10. Derrimon Trading ended at $2.80, with 75,428 shares, Dolphin Cove concluded trading with a loss of 50 cents at $16.50, with 500 shares, Elite Diagnostic finished with a loss of 4 cents at $3.12, with 66,264 stock units, Everything Fresh closed trading of 163,250 changing hands shares at $2.10, Express Catering lost 21 cents to close at $8, trading 65,806 shares. General Accident finished trading 10 cents higher at $4, with 1,989 shares changing hands, Honey Bun ended at $4, in exchanging 15,000 units, Indies Pharma lost 39 cents and closed with 1,269,841 shares changing hands to close at $3.50, Jamaican Teas settled trading of 25,350 shares at $5, Jetcon Corporation ended trading 94,876 stock units with a loss of 2 cents at $3.98. KLE Group finished trading 30 cents higher at $3.30, with 196,224 shares changing hands, Knutsford Express closed 50 cents higher at $12, with an exchange of 16,106 shares, Lasco Distributors rose 55 cents to $4.05, with 11,320 shares trading, Lasco Financial concluded trading 15 cents higher at $5.40, with 118,389 stock units. Lasco Manufacturing finished with a loss of 5 cents at $3.85, trading 7,000 units, Paramount Trading closed at $3, in exchanging 17,120 shares and Stationery and Office finished trading of 30,000 stock units with a loss of 25 cents at $9. In the Junior Market preference segment, Eppley 8.25% concluded trading at $6, with 171,500 units changing hands.
Prices of securities trading for the day are those at which the last trade took place.
Junior Market recovers 71 points on – Monday
Please stop Gwest scandalous action
The Jamaica Stock Exchange and the Financial Securities Commission must move to stop this scandalous action by GWest in issuing new shares that were not authorized by the shareholders of the company and was never mentioned as a contractual agreement in the prospectus that was issued in December last year.
The company cannot go to the public with an offer to sell shares and a critical contract that is now said to have exited, was not properly documented in the prospectus as a material contractual obligation of the company. By the way, the audited financial statement does not show any such contractual agreement.
GWest issued the first quarter results to June with an increase in share capital and the issue of $250 million preference shares without any information being communicated to shareholders. Now they have belated submitted an explanation to the Jamaica Stock Exchange, but those shares have been illegally issued and cannot stand.
The Gwest Corporation release states “on June 15, 2018 pursuant to the resolution passed at an Extraordinary General Meeting of the Company held on the 27th day of November 2017, it has signed an agreement for the conversion of $250,000,000 of shareholders’ loan to 10% Cumulative Non-Redeemable Preference Shares. Of the authorized 1,000,000 10% Cumulative Non-Redeemable Preference Shares, all units were allotted at $250 each to effect the conversion.”
The big question is if such a resolution existed why wasn’t the information included in the prospectus, why wasn’t the authorized capital split to include preference shares, why was the information not included in the audited financial report, why there was no mention of it in the annual report to shareholders.
With the wider shareholding not being made aware of it and not a contracted party to it must approve the increase in share capital with the issue taking place after the public issue of shares have passed for several months.
According to the company’s prospectus, section 7 lists all material contracts, no contract to issue preference shares is listed. Secondly, the reference to the share capital makes no mention of any other shares to be issued other than the ordinary shares of the company.
The prospectus stated the following: material contracts, entered into in the ordinary course of business, have been entered into by the Company with the following persons (“counterparties”) in the 2 years preceding as at the date of this Prospectus:
The above list has no contract in connection with the issue of preference shares to shareholders prior to the IPO.
The audited financial stated about Borrowings – “Shareholders’ loans: The principal balances represent loans from shareholders including US$741,248 (2017: US$742,515) of which US$716,560 was used for the purchasing of the land used for development (see Note 5). There are no set terms of repayment, however management does not anticipate repayment within the next twelve months as the loans are subordinated to the bank loans. No interest was charged on loans during the year as the shareholders agreed to waive such charges. Up to 2017 interest was charged at a rate of 4% and 15% per annum on the US dollar and Jamaican dollar loans, respectively.”
The note in the audited accounts to share capital states: “During the year ended March 31, 2017, interest payable on shareholders’ loans totaling $50 million, were converted to ordinary share capital. The 9,800 ordinary shares at no par value were allocated to the shareholders in the proportions of their shareholdings at that date. (13.2) During the year, the authourised ordinary share capital was increased to 1,000,000 ordinary shares by an ordinary resolution dated November 27, 2017. By an ordinary resolution of the same date each of the 1,000,000 ordinary shares were split into 1,000 ordinary shares such that the authourised ordinary share capital was increased to 1,000,000,000 ordinary shares. Further, by an ordinary resolution dated November 28, 2017 the 10,000 shareholdings of shareholders on register at November 27, 2017 were split such that their holdings of ordinary shares became 10,000,000 ordinary shares. Additionally, the shareholders who were allocated the 9,800 available shares at March 31, 2017, were further allocated 314,848,485 ordinary shares for the consideration of $50 million of interest converted to capital on March 31, 2017. (13.3) On December 7, 2017 the company made an offer for subscription to the public (IPO), of 160,000,000 of its ordinary shares at a price of $2.50 per share through the Junior Market of the Jamaica Stock Exchange (JSE). The company was officially registered on the Junior Stock Market on December 21, 2017. Total cost of the IPO of $30.848 million has been off-set against the issued share capital.”
“The company has one class of ordinary shares which carry no right to fixed income.”
The company released its annual report without a line mentioning the resolution to convert the loans to preference shares. The prospectus does not state it as a contractual obligation as such the prospectus that has become the legal document containing the contracts terms and obligations of all shareholders as of December must be honoured. It did not report the issue of any new shares accordingly, the additional shares are improperly issued and is a variance with the terms of the public offer.
IC Insider.com raised this matter after the company released the first quarter results, we again raise the above in the interest of the integrity of the market. We now over pass this over to the JSE and the FSC to follow up.
136 points Junior Market drop – Friday
The Junior Market dropped by an unusually large 136.58 points to close at 3,299.73 on Friday as Express Catering traded more than 23 million at $6.40 along with Lasco Distributors that fell to $3.50 and Main Event that traded at $5.10 from $6.50 did immense damage to the market index.
The major part of the damage which was done by the above three was accompanied by 11 other companies that declined on the day after the market recorded its highest close. At the close, trading ended with 29 securities, compared to 28 on Thursday, leading to 5 advancing, 14 declining and 9 remaining unchanged.
Investors exchanged 27,838,500 units valued at $164,750,850, compared to 3,874,490 units valued at $18,122,803 on Thursday.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading had 5 stocks ending with bids higher than their last selling prices, 4 closed with lower offers.
Trading closed with an average of 959,948 units for an average of $5,681,064 in contrast to 138,375 units for an average of $647,243 on Thursday. Trading for the month to date averages 541,966 units for an average of $3,204,801 and on the prior trading day, an average of 531,728 units for an average of $3,009,661. Trading in August, averaged 244,613 units at $1,348,298 for each security traded.
At the close of trading, Access Financial fell $2 and closed at $48, after trading 2,000 shares, AMG Packaging ended at $1.95, with 1,714,425 stock units changing hands, Blue Power concluded trading with 48,659 units and lost 60 cents to end at $6.40, CAC 2000 finished with a loss of 50 cents at $12.50, with 2,800 shares trading, Caribbean Cream ended trading with a loss of 10 cents at $7.90, with 50,000 shares changing hands. Caribbean Flavours traded at $18, with 15,000 stock units, Caribbean Producers finished trading 2,470 units with a loss of 9 cents at $6, Derrimon Trading ended 30 cents higher at $2.80, in exchanging 328,947 shares, Dolphin Cove concluded trading of 10,839 shares at $17. Elite Diagnostic finished at $3.16, with 31,792 stock units, Eppley settled with a loss of 99 cents at $9.01, trading 2,500 units, Everything Fresh lost 19 cents in trading 58,866 shares to end at $2.10, Express Catering ended trading 19 cents higher at $8.21 after it traded down to $6.40 the bulk of 23,411,735 shares that changed hands, FosRich Group traded 111,206 shares at $3.21. General Accident finished trading 2,000 shares with a loss of 45 cents at $3.90, Indies Pharma gained 14 cents and closed trading with 622,765 shares changing hands at $3.89, Iron Rock concluded trading of 30,000 shares 50 cents higher to end at a 52 weeks’ high of $4.50, Jamaican Teas settled at $5, exchanging 100,000 shares, Jetcon Corporation ended trading with a loss of 10 cents at $4, after 63,601 stock units changed hands. Knutsford Express closed at $11.50, in exchanging 3,860 shares, Lasco Distributors ended with a loss of 50 cents at $3.50, with 744,400 shares, Lasco Financial fell 25 cents to close at $5.25, in trading of 100,000 stock units, Lasco Manufacturing finished with a loss of 10 cents at $3.90, with 51,017 units being exchanged. Main Event settled with a loss of $1.40 at $5.10, trading 175,584 shares, Medical Disposables ended trading 34,964 shares 10 cents higher at $6.60, Paramount Trading closed at $3, with 2,200 shares, Stationery and Office finished trading 1,100 stock units at $9.25 and tTech ended with a loss of 55 cents at $5.55, with 5,400 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.
Record close for Junior Market – Thursday
The Junior Market ended traded on Thursday record high closing high as more stocks gained than fell leaving The Junior Market Index advanced by 22.73 points to close at 3,436.31
Trading ended with 28 securities compared to 26 on Wednesday including 1 from the US dollar Junior Market, leading to 13 advancing, 7 declining and 8 remaining unchanged.
Investors exchanged 3,874,490 units valued at $18,122,803 compared to 3,671,416 units valued at $14,989,400 on Wednesday in the regular market.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading had 5 stocks ending with bids higher than their last selling prices, 4 closed with lower offers.
Trading closed with an average of 138,375 units for an average of $647,243 in contrast to 141,208 units for an average of $576,515 on Wednesday. Trading for the month to date averages 531,728 units for an average of $3,009,661 and on the prior trading day, an average of 539,551 units for an average of $3,204,213. Trading in August, averaged 244,613 units at $1,348,298 for each security traded.
At the close of trading, AMG Packaging ended at $1.95, with 33,550 stock units, Blue Power concluded trading of 1,000 units and rose 3 cents to $7, CAC 2000 jumped $1 to a 52 weeks’ high of $13, trading 44,000 shares, Cargo Handlers settled $2 higher at a 52 weeks’ high of $15, with 500 shares changing hands, Caribbean Cream ended trading 10 cents higher at $8, with 108,677 shares. Caribbean Flavours lost 50 cents to end at $18, with 110,000 stock units traded, Caribbean Producers finished trading 59,548 units with a loss of 1 cent at $6.09, Consolidated Bakeries closed with a loss of 3 cents at $2.46, trading 111 shares, Derrimon Trading ended with a loss of 50 cents at $2.50, in exchanging 1,126,228 shares. Elite Diagnostic finished with a loss of 1 cent at $3.16, trading 31,816 stock units, Everything Fresh rose 27 cents in trading 25,134 shares to end at $2.29, Eppley settled at $10, with 1,695 units changing hands, Express Catering ended trading 12 cents higher at $8.02, exchanging 186,942 shares, FosRich Group traded 1 cent higher at $3.21, with 80,689 shares. GWest Corporation closed with a loss of 5 cents at $2.15, as 25,528 stock units were traded, Honey Bun ended with a loss of 15 cents at $4, with 39,698 units, Indies Pharma closed trading with 252,318 shares changing hands at $3.75, ISP Finance finished trading of 2,000 shares at $20, Jamaican Teas settled 35 cents higher at $5, with 232,117 shares changing hands. Jetcon Corporation ended trading 322,842 stock units, 10 cents higher at $4.10, Knutsford Express closed at $11.50, swapping 1,960 shares, Lasco Distributors ended 5 cents higher at $4, trading 327,700 shares, Lasco Financial concluded trading of 625,607 stock units 4 cents higher at $5.50. Lasco Manufacturing finished at $4, with 15,100 units, Main Event settled $1.20 higher at $6.50, with 15,000 shares changing hands, Medical Disposables ended trading 40 cents higher at $6.50, with 52,230 shares and Paramount Trading traded 100,300 shares at $3.
Prices of securities trading for the day are those at which the last trade took place.
Junior Market missed record close – Wednesday
The Junior Market traded mostly at record territory for most of the trading session on Wednesday. A late pull back in the prices of Derrimon Trading and Indies Pharma pulled the index below the previous close.
The Junior Market Index declined by 9.14 points to close at 3,413.58 as trading ended with 26 securities compared to 25 on Wednesday plus 1 from the US dollar Junior Market on both days, leading to 7 advancing, 11 declining and 8 remaining unchanged. Investors exchanged 3,671,416 units valued at $14,989,400 compared to 2,560,907 units valued at $10,090,700 on Tuesday in the regular market and one in the US dollar segment.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading had 5 stocks ending with bids higher than their last selling prices, 4 closed with lower offers.
Trading closed with an average of 141,208 units for an average of $576,515 in contrast to 102,436 units for an average of $403,628 on Tuesday. Trading for the month to date averages 539,551 units for an average of $$3,204,213 and on the prior trading day, an average of 572,535 units for an average of $3,421,793. Trading in August, averaged 244,613 units at $1,348,298 for each security traded.
At the close of trading, AMG Packaging ended at $1.95, in trading 399,016 stock units, Blue Power concluded trading of 153,742 units, with a loss of 3 cents at $6.97 after trading at an intraday high of $7.50, CAC 2000 finished $1 higher at a 52 weeks’ high of $12, with 19,500 shares changing hands, Caribbean Cream ended trading of 6,250 shares and gained 64 cents to end at $7.90, Caribbean Producers closed at $6.10, trading 17,331 units. Derrimon Trading ended with a loss of 20 cents at $3, with 527,890 shares changing hands, Dolphin Cove concluded trading 1,300 shares at $17, Elite Diagnostic finished with a loss of 23 cents at $3.17, exchanging 5,000 stock units, Everything Fresh rose 2 cents in trading 21,000 shares to end at $2.02, Express Catering ended trading of 82,777 shares with a loss of 49 cents at $7.90. FosRich Group declined 1 cent to end at $3.20, trading 5,750 shares, Honey Bun ended with a loss of 10 cents at $4.15, with 1,800 units trading, Indies Pharma lost 17 cents and closed with 1,534,316 shares changing hands at $3.75, Jamaican Teas settled 25 cents higher at $4.65, with 13,767 shares, Jetcon Corporation ended at $4, trading 37,117 stock units. Key Insurance traded 446,525 units with a loss of 25 cents at $3.50, KLE Group finished trading 50,000 shares at $3, Knutsford Express closed with a loss of $1.20 at $11.50, with an exchange of 48,384 shares, Lasco Distributors ended with a loss of 5 cents at $3.95, with 2,000 shares changing hands. Lasco Financial concluded trading at $5.46, with 19,000 stock units, Lasco Manufacturing finished at $4, with an exchange of 13,000 units, Medical Disposables ended trading 3,740 shares with a loss of 70 cents at $6.10, Paramount Trading gained 40 cents to close at $3, with 91,400 shares traded. Stationery and Office finished trading 24 cents higher at $9.25, after 157,954 stock units were exchanged and tTech ended 10 cents higher at $6.10, with the trading of 3,857 shares. In the Junior Market US dollar market Eppley 5% us preference share traded 117 units with at $1.
Prices of securities trading for the day are those at which the last trade took place.
Record close for Junior Market – Tuesday
The Junior Market rose 20.24 points at the close of trading on Tuesday, to end at record close of 3,422.72 for a gain of more than 25 percent for the year to date.
Trading rose from 25 securities on Monday to 29 on Tuesday, leading to 13 advancing, 7 declining and 5 remaining unchanged, as investors exchanged 2,560,907 units valued at $10,090,700.compared to 2,777,946 units valued at $11,467,683 on Monday.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading had 5 stocks ending with bids higher than their last selling prices, 5 closed with lower offers.
Trading closed with an average of 102,436 units for an average of $403,628 in contrast to 95,791 units for an average of $395,437 on Monday Trading for the month to date averages 572,535 units for an average of $3,421,793 and on the prior trading day, an average of 613,186 units for an average of $3,682,880. Trading in August, averaged 244,613 units at $1,348,298 for each security traded.
At the close of trading, AMG Packaging gained 5 cents to end at $1.95, with an exchange of 461,972 stock units, Blue Power concluded trading of 2,300 units 50 cents higher at $7, CAC 2000 finished $2 higher at record high of $11, with 11,761 shares changing hands, Caribbean Cream ended trading of 16,348 shares with a loss of 74 cents to end at $7.26, Caribbean Flavours lost 50 cents to close at $18.50, trading 7,423 stock units. Caribbean Producers finished trading 28,273 units at $6.10, Derrimon Trading ended 2 cents higher at $3.20, with 191,800 shares trading, Elite Diagnostic finished at $3.40, with 10,000 stock units changing hands, Everything Fresh shed 30 cents in trading 45,000 shares to end at $2, Express Catering ended trading 29,858 shares, 39 cents higher at $8.39. FosRich Group gained 20 cents to end at $3.21, exchanging 20,991 shares, General Accident finished trading 25,000 shares, to close 35 cents higher at $4.35, GWest Corporation closed 5 cents higher at $2.20, with 265,662 stock units changing hands, Honey Bun rose 20 cents higher to $4.25, with the trading of 6,519 units. Indies Pharma lost 2 cents and closed with 537,134 shares changing hands at $3.95, Iron Rock concluded trading of 10,000 shares at $4, Jamaican Teas settled with a loss of 20 cents at $4.40, with 44,845 shares changing hands, Jetcon Corporation ended trading 31,000 stock units after rising 4 cents to $4, Lasco Distributors ended at $4, exchanging 44,863 shares. Lasco Financial concluded trading 618,240 stock units with a loss of 14 cents to end at $5.46, Lasco Manufacturing finished 10 cents higher at $4, with 51,934 units changing hands, Main Event gained 10 cents to close at $5.30, with 8,000 shares trading and Stationery and Office finished trading of 36,984 stock units 1 cent higher at $9.01. In the junior market preference segment, Eppley 8.75% concluded trading of 25,000 units with a loss of 20 cents at $6.
Prices of securities trading for the day are those at which the last trade took place.
Record close for Junior Market – Monday
The Junior Market recorded gains of 5.39 points at the close of trading on Monday, to end at record close of 3,402.48, within 3 minutes of opening, to take out the old record of 3,392.58 on Monday.
Trading rose from 25 securities on Friday to 29 on Monday, leading to 7 advancing, 12 declining and 10 remaining unchanged, as investors exchanged 2,777,946 units valued at $11,467,683 compared to 2,279,431 units valued at $9,238,268 on Friday.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading had 5 stocks ending with bids higher than their last selling prices, 2 closed with lower offers.
Trading closed with an average of 95,791 units for an average of $395,437 in contrast to 91,177 units for an average of $369,531 on Friday. Trading for the month to date averages 613,186 units for an average of $3,682,880 and on the prior trading day, an average of 670,895 units for an average of $4,049,556. Trading in August, averaged 244,613 units at $1,348,298 for each security traded.
At the close of trading, AMG Packaging ended 1 cent higher at $1.90, with 186,246 stock units changing hands, Blue Power concluded trading at $6.50, trading 150 units, Caribbean Cream jumped to a 52 weeks’ high of $8 after gaining 50 cents and trading 58,059 shares, Caribbean Flavours traded 18,519 stock units with a loss of 30 cents at $19, Caribbean Producers finished trading at $6.10, with 12,934 units changing hands. Consolidated Bakeries traded 2,000 shares to close with a loss of 1 cent at $2.49, Derrimon Trading ended with a loss of 2 cents at $3.18, in exchanging 262,810 shares, Elite Diagnostic finished with a loss of 10 cents at $3.40, with 56,916 stock units being exchanged, Eppley settled with a loss of 5 cents at $10, trading 13,305 units. Everything Fresh shed 10 cents in trading 32,468 shares to end at $2.30, Express Catering ended trading 52,500 shares with a loss of 39 cents at $8, FosRich Group traded 32,340 shares 1 cent higher at $3.01, General Accident finished trading with a loss of 40 cents at $4, with 98,778 shares, GWest Corporation closed at $2.15, with 15,000 stock units. Honey Bun ended at $4.05, with 25,386 units, Indies Pharma lost 5 cents and closed with 1,098,497 shares changing hands at $3.95. Iron Rock concluded trading of 81,500 shares for 50 cents higher at $4, Jamaican Teas settled with a loss of 5 cents at $4.60, exchanging 38,064 shares, Jetcon Corporation gained 6 cents to close at $3.96, with 250 stock units changing hands. KLE Group finished trading 91,858 shares at $3, Knutsford Express closed $1.20 higher at $12.70, exchanging 1,800 shares, Lasco Distributors ended at $4, with 32,479 shares, Lasco Financial gained 10 cents to $5.60, trading 110,888 stock units. Lasco Manufacturing finished at $3.90, with 6,289 units, Main Event settled with a loss of 1.80 cents at $5.20, in the exchange of 14,000 shares, Stationery and Office finished trading 15,900 stock units at $9 and tTech ended at $6, changing 309,410 shares. In the junior market preference segment, Derrimon Trading ended with a loss of 26 cents at $2.25, with 5,100 stock units changing hands.
Prices of securities trading for the day are those at which the last trade took place.
New record for Junior Market – Friday
The Junior Market recorded gains of 31.89 points at the close of trading on Friday, to end at record close of 3,397.09 after it traded briefly at an intraday record high of 3,408.31 points, within 3 minutes of opening, to take out the old record of 3,392.58 on Monday.
The number of securities trading remained the same as Thursday at 25 and leading to 9 advancing, 2 declining and 14 remaining unchanged, as investors exchanged 2,279,431 units valued at $9,238,268, compared to 2,749,388 units valued at $12,888,595 on Thursday.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading had 5 stocks ending with bids higher than their last selling prices, 4 closed with lower offers.
Trading closed with an average of 91,177 units for an average of $369,531 in contrast to 109,976 units for an average of $515,544 on Thursday Trading for the month to date averages 670,895 units for an average of $4,049,556 and on the prior trading day, an average of 732,567 units for an average of $4,441,049. Trading in August, averaged 244,613 units at $1,348,298 for each security traded.
At the close of trading, Access Financial closed at $50, with 4,500 shares changing hands, AMG Packaging ended at $1.89, in exchanging 44,970 stock units, Blue Power concluded trading of 39,707 units, at $6.50, Caribbean Cream ended trading 40 cents higher at $7.50, with 18,100 shares changing hands, Caribbean Producers rose 10 cents to $6.10, with the trading of 4,431 units. Consolidated Bakeries closed 5 cents higher at $2.50, with 56,500 shares changing hands, Derrimon Trading added 20 cents to close at $3.20, with 384,647 shares changing hands, Dolphin Cove concluded trading of 7,200 shares at $17, Elite Diagnostic finished at $3.50, with 106,043 stock units trading, Everything Fresh gained 30 cents in trading 69,825 shares to end at $2.40, Express Catering ended trading 33,999 shares, 21 cents higher at $8.39, FosRich Group traded at $3, with an exchange of 13,572 shares, GWest Corporation closed at $2.15, with 31,044 stock units trading, Indies Pharma closed with 1,012,184 shares changing hands to close of $4, Jamaican Teas settled at $4.65, trading 37,374 shares. Jetcon Corporation ended trading 20,677 stock units with a loss of 10 cents at $3.90, Knutsford Express closed at $11.50, with 500 shares changing hands, Lasco Distributors ended 23 cents higher at $4, after 15,470 shares traded, Lasco Financial concluded trading 133,305 stock units with a gain of 5 cents to $5.50. Lasco Manufacturing finished at $3.90, with 19,158 units changing hands, Main Event settled $1 higher at $7, with 68,715 shares changing hands, Medical Disposables ended trading 18,135 shares with a loss of $1.15 at $6.80, Paramount Trading traded 106,383 shares at $2.60 and Stationery and Office finished trading at $9, with 15,339 stock units being exchanged.
Prices of securities trading for the day are those at which the last trade took place.
Indies gains 167% since Junior Market IPO
Newly listed Junior Market stock, Indies Pharma jumped to a record $4 on Thursday, in recording gains of 167 percent since the IPO issue in July, at $1.50 per share.
The stock seems to have benefited from information from the company indicating the likely acquisitions and new products to come to market. Additionally, a look at the order book indicates very few stocks being offered for sale. Blue Power and Medical Disposables are two stocks that have benefited from good results recently to help push them to record closing highs on Thursday but AMG Packaging closed at a 52 weeks’ low.
The Junior Market having retreated for two consecutive days recorded gains at the close of trading on Thursday, with the market index rising 8.83 points to close at 3,365.20, as it pulled back from 3,388.43 high reached in the morning session.
Trading resulted in 25 securities, the same number that changed hands on Wednesday, leading to 11 advancing, 7 declining and 7 remaining unchanged, as investors exchanged 2,749,388 units valued at $12,888,595, compared to 3,271,099 units valued at $12,971,060 on Wednesday.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading had 5 stocks ending with bids higher than their last selling prices, 4 closed with lower offers.
Trading closed with an average of 109,976 units for an average of $515,544 in contrast to 130,844 units for an average of $518,842 on Wednesday. Trading for the month to date averages 732,567 units for an average of $4,441,049 and on the prior trading day, an average of 806,685 units for an average of $4,908,371. Trading in August, averaged 244,613 units at $1,348,298 for each security traded.
At the close of trading, Access Financial closed with a gain of $2.50 to close at $50, with an exchange of 250 shares, AMG Packaging ended with a loss of 1 cent at a 52 weeks’ low of $1.89, with 5,662 stock units, Blue Power concluded trading of 24,100 units and gained 50 cents to end at a 52 week’s high of $6.50, Cargo Handlers settled at $13, trading 5,187 shares, Caribbean Producers finished trading 1,143,307 units at $6. Consolidated Bakeries closed with a loss of 5 cents at $2.45, with 100 shares changing hands, Derrimon Trading ended at $3, while exchanging 566,924 shares, Dolphin Cove concluded trading 240 shares at $17, Elite Diagnostic finished trading of 141,028 stock units and rose 6 cents to $3.50. Everything Fresh dropped 34 cents in trading 69,825 shares to end at $2.10, Express Catering closed at $8.18, with 70,042 shares changing hands, FosRich Group traded with a loss of 5 cents at $3, exchanging 7,670 shares, Honey Bun ended 5 cents higher at $4.05, with the swapping of 24,500 units, Iron Rock concluded trading at $3.50, with 32,151 shares changing hands. Indies Pharma gained 35 cents with 235,244 shares changing hands to end at a record close of $4, Jamaican Teas jumped 45 cents to $4.65, with 120,000 shares trading, Jetcon Corporation ended trading 6,879 stock units and rose 5 cents to $4, Key Insurance traded 67 cents higher at $3.75, with the trading of just 900 units, Lasco Distributors ended with a loss of 23 cents at $3.77, trading 15,700 shares. Lasco Financial concluded trading with a loss of 45 cents at $5.45, with 58,922 stock units changing hands, Lasco Manufacturing closed with a loss of 9 cents at $3.90, in exchanging 94,100 units, Main Event settled 2 cents higher at $6, with 16,494 shares traded, Medical Disposables ended trading a mere 300 shares and gained $1.25 to a new high of $7.95 and Stationery and Office finished trading 29,363 stock units and rose 1 cent to $9.
Prices of securities trading for the day are those at which the last trade took place.
All Jamaica bolts to record 385,502
The All Jamaica Composite Index jumped to a new record shortly after trading opened on now trades at 385,137.38 but jumped 6,732.02 points to a record 385,502.72 points at 10:54 am.
The JSE index climbed 6,133.64 points to a record 351,236.58 points as a number of main market stocks traded at record prices and others recorded sizable gains to help push the market higher. The market crossed through several new highs in the morning with the first being at 9.35 at 381,944.28, followed by a series of other highs. The Junior Market added 32 points to trade at 3,388.43 after one hours trading.
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