JSE: Big day with crosses

Tuesday, 30th July 2013 | Crosses was the order of the day on the Jamaica Stock Exchange. The number and value of shares trading on market was filled with crosses done mainly by Pan Caribbean, leading the stocks of 28 companies to trade with a pumped up volume of 24,917,651 valued at $310.7 million. There were 9 stocks advancing and 13 declining which is an improvement on Monday when only 4 stocks had price advances and 14 declined.

Main market trades of note | The all Jamaica Index shed 489.39 points to close at 86,873.38 and the JSE market index lost 278.14 to close at 86,204.62.

Carreras traded 1,393,327 for a value of $71,652,396 and closed at $51.30 losing 21 cents, Desnoes & Geddes traded 6,787,525 valued $32,345,202, Jamaica Broilers 6,023,761 valued at $29,998,805, Jamaica Money Market Brokers 2,227,588 valued at $18,032,274 as the stock closed at $8.50 up 49 cents, Jamaica Producers 1,569,960 valued at $30,001,936 as the price gained 10 cents to close at $19.11, National Commercial Bank traded 3,149,543 with a value of $61,035,799 as the stock closed at $19.06 down 44 cents, Pan Jamaican Investment Trust 300,458 valued at $15,500,707 with 39 cents being shaved from the price which closed at $51.11, Scotia Group 2,220,944 units valued at $47,061,328, gaining 15 cents to close at $21.30.

Grace Kennedy traded 41,130 units and fell to a $53.60 at the close, off $2.40 on the same day the group reported a 40 percent jump in profits in the latest quarter to June and 20 percent for the six months period but after trading had closed.

Jamaica Stock Exchange ordinary shares traded for the first time since the company was listed but in the form of ordinary shares. Subsequent to the recent IPO, the stock traded at $3.25 up 40 cents on the IPO price with just 2,218 shares. Sagicor Investments lost 50 cents as it closed at $18 and Sagicor Life closed down 41 cents at $9 both with small volumes.

Junior market | 9 stocks in the junior market traded as the index moved up moderately by 4.89 to 806.04.

Trading continue to be dominated by the three Lasco companies followed by General Accident which traded 95,092 units to close $1.92 and Caribbean Producers traded 54,000 units to close $2.03. Blue Power chipped in with 34,199 units valued at $342,073 and closed at $10, a loss of 40 cents. Lasco Distributors traded 112,266 shares and closed up 4 cents to $1.50, Lasco Financial traded 131,516 shares and was up 10 cents to $1.60, and Lasco Manufacturing traded 318,315 shares and closed down a cent to $1.60.

Eppley shares which were listed on Monday has shown no signs that it will trade any time soon as there are no bids nor offer in the market for the stock.

Proven Investment Preference shares traded 196,000 units valued at $1 million. There was no trading in the ordinary shares which are quoted in US dollar.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 4 stocks were higher with 2 stocks having offers lower than their last selling price.