Iron Rock Insurance is the top performing stock to the end of October on the Jamaica Stock Exchange Junior Market with a rise of 75 percent following b full year results for 2023 as it bettered the performance with increased revenues and profits for the six months to June.
The market ended the year to date with ten stocks gaining 21 percent and over while the Junior Market index fell 0.9 percent for the year to date. Overall 19 stocks gained and 29 declined. The main feature of rising stocks is due to increased profits and reinforced the concept that profit performance is the major driver of stock prices.
Blue Power was the second best performer up 62 percent followed by Everything Fresh with a gain of 59 percent resulting from a b turnaround in profits, Caribbean Brokers ended with a 49 percent pop and Elite Diagnostic 34 percent, with the company posting b fourth quarter results to June.
Edufocal delivered a huge 78 percent fall for investors, followed by MFS Partners, CAC 2000 fell 43 percent KLE Group 32 percent and Spur Tree 31 percent. The sharp decline in price is primarily due to companies making losses or with profits falling below the prior year.