Activity on the Jamaica Stock Exchange on Wednesday morning has been slow but the news dominating the market is a J$31 offer proposed by Heineken to buy out all the shares in Desnoes & Geddes it does not now own. Heineken bought out the subsidiary of Diageo that owned the shares in Desnoes & Geddes thus giving them majority holdings in the local company. D&G traded at $8 with an increase of $1, the bid is now quoted at $10.50.
Elsewhere, trading so far has seen the junior market at a new all-time high with only a few of the stocks being active. Overall only 10 securities have traded at 11:15 am with a volume of a mere 57,540 units, 2 stocks declined and 6 gained.
Trading activity resulted in the JSE Market Index 535.63 points to 98,338.12. The JSE All Jamaican Composite index rose 598.60 points to 108,854.67, the JSE combined index 617.64 points to be at 102,281.64 and the junior market is up 12.53 points to 1,056.68 for a new record and is not very far off from the all-time high of 1,040.59.
D&G offer pushes JSE, juniors at new high
October 7, 2015 by
