Friday, 7th March 2014 | How about 306% gain on one’s money in just two months? That is how much Jamaica’s Cable & Wireless shares has gained so far this year when the price closed at 65 cents in today’s trading. Most of the gains came after the company released nine months’ results to December 2013 in mid-February.
In today’s trading on the Jamaica Stock Market, the prices of 8 stocks rose and 10 declined as 29 securities traded resulting in 6,275,259 shares traded, valued at $23,546,563.
Main Market | More companies in the main market declined than advanced as the indices closed down marginally with the JSE Market Index inched down by 32.59 points to 77,075.93 and the JSE All Jamaican Composite index eased by 49.43 points to close at 84,891.90.
Gains | Five stocks recorded gains led by Cable & Wireless trading 3,775,010 shares at a new 52 weeks high of 65 cents as the price gained 9 cents; Caribbean Cement had 46,696 units changing hands with the price gaining 55 cents to close at $4.75; Kingston Wharves traded 958,682 units to close at $6.06 for a 48 cents gain; Sagicor Real Estate Fund put in 14,928 units at $7.15, an increase of 15 cents and Scotia Group 23,014 shares at $20.55, a 5 cents increase.
Firm | Five stocks in the main market closed without a price change including one from the preference section along with the Proven Investments US listing. Desnoes & Geddes with 5,246 units to close at $5; Jamaica Money Market Brokers 8.50% preference shares with 10,500 units at $3.50; Mayberry Investments 6,906 shares at $1.90; Proven Investments ordinary 7,300 units at 18 US cents; Sagicor Group 93,657 shares at $9.10 and Salada Foods with just 100 units at $9.
Declines | Stocks declining are Carreras, trading a decent volume of 261,845 shares to close down 20 cents at $34.80; Grace Kennedy 37,043 units with the price closing at $59.50 for a 50 cents fall; Jamaica Broilers swapped 99,308 units at $4.80 as the price shed 4 cents; Jamaica Money Market Brokers put in 24,506 shares at $7.44 while shaving a cent; Jamaica Stock Exchange lost 30 cents in trading 10,300 units at $1.80; National Commercial Bank traded only 4,700 units as the sellers were not prepared to sell lower by the end of trading at $19.40, a fall of 10 cents; Pan Jamaican Investment put in 5,637 shares at $48.05, down 95 cents and Supreme Ventures had only 2,000 units at $2.35 for a 2 cents decline.
Junior Market | The JSE Junior Market Index advanced by 2.24 points to close at 732.53 with 3 stocks advancing and 2 declining.
Gains | Stocks recording price gains in the junior market are Caribbean Cream in trading 98,080 units, up 6 cents and closing at 81 cents; Lasco Distributors traded 531,349 units to close 5 cents up at $1.40 and Lasco Manufacturing closed with a one cent increase at $1.21 while trading 13,610 shares.
Firm Trades | Five stocks traded with no price change. Blue Power exchanging 10,000 units at $9.01; Caribbean Producers 15,000 units at $2.70; Consolidated Bakeries 24,000 shares at $1.10; General Accident with 41,451 shares at $1.70 and Honey Bun 2,901 shares at $3.05.
Declines | Only 2 stocks closed down as Lasco Financial Services traded 131,490 units at $1.21 and lost a cent and Paramount Trading had 20,000 units trading at $2.92 for a 28 cents fall.
IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator had 6 stocks with bids higher than the last selling price and 2 stocks with offers lower.
