The main market of the Jamaica Stock Exchange indices jumped on the back of a $1 movement in the price of Desnoes & Geddes in response to an offer by Heineken for approximately J$31 per share for the shares it does not now own. At the close, there were 14 stocks rising, 3 declining with 21 securities totalling 2,920,468 units, valued at $33,633,857 changing hands, in all market segments, and with three junior market stocks ending at new 52 weeks’ closing high.
The main market indices enjoyed a day of decent gains. The JSE Market Index climbed 1,270.20 points to 99,072.69, the JSE All Jamaican Composite indexjumped 1,419.52 points to 109,675.59 and the JSE combined index jumped 1,316.98 to end at 102,980.98 points.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 16 stocks with bids higher than their last selling prices and 4 with offers that were lower.
In trading, Cable and Wireless added 1 cent with 8,000 shares changing hands to close at 51 cents, Carreras traded 70,682 shares to close $1.25 higher at $50.25, Desnoes and Geddes (D&G) traded just 3,000 shares to close at $8, after gaining $1. The D&G stock closed with a bid of $9.20 to buy the stock Jamaica Broilers closed at $6.50 with 29,188 shares changing ownership while gaining 41 cents, JMMB Group is worth watching having traded just 7,850 shares at $7.65 with a 1 cent gain but closed with the .
bid at $7.80 to buy 468,490 units with the closest amount offered being 51,500 shares at $8.50, the next amount offered is 9,171 units at $9.50. Kingston Wharves ended with a gain of 38 cents, to close at $7 with 301,000 shares changing hands. Sagicor Group with 1,659,265 shares trading, closed at $13.05, with a 5 cents rise, Scotia Group added 10 cents in ending at $24 while 164,793 shares traded and Proven Investments lost 2 cents with 25,000 units changing hands to close at 20 US cents.
J$31 offer for D&G shares spikes market
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[…] 5,817 units trading. Ciboney lost 1 cent and ended at 26 cents with 213,316 shares changing hands, Desnoes & Geddes had 68,514 units trading at the close at $30. Gleaner Company traded 17,272 shares at $1.40, Grace […]
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[…] units trading. Ciboney did not trade but closed with the bid at 23 cents to buy with 38,830 shares. Desnoes & Geddes ended with 11,850 shares trading at $30, Jamaica Broilers lost 20 cents in trading 1,375,039 shares, […]
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[…] set to brake the old record, on its way to 150,000 points before long. The Surge in the price of Desnoes and Geddes, from $7 to $30 in October in response to the news that Heineken will be making an offer at 25.9 US […]
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[…] points to be at 127,412.39 and the junior market index rose 9.91 points to 1,291.86. In trading, Desnoes & Geddes exchanged 2,000,220 between $30 and $30.25 and now trades at $30, Jamaica Broilers exchanged 62,885 […]
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[…] big moves in October this year, owe most of the gains to a 71.66 percent rise in the share price of Desnoes & Geddes (D&G) on Wednesday and 63.38 percent on Friday, October 9 which helped to move the stock from […]
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[…] with a record gain of 9,714.07 points on the JSE All Jamaican Composite index to 127,268.87 as Desnoes and Geddes share shot up by $10.77, to end at a record $25.80 with 61,276 unitss trading. The previous one day […]
[…] market activities, Caribbean Cement ended at $22.50 with 400 shares trading after gaining $2.50, Desnoes and Geddes traded only 1,000 shares but rose $1.13 to $24.73, Gleaner closed at $2.10 with 250,029 shares […]