Friday, 25th October 2013 | Eppley traded for the first time in Friday’s trading with 5,300 units at $380 each as it traded up $3 from the IPO price of $377. The stock was listed on July 29, 2013 on the junior market and failed to trade before today even though there was a bid at $400 that lasted a few days.
Even as the JSE Market Index and the all Jamaica index climbed at the end of trading there was no excitement on the last day for the week as the trading level was well down to just 1,287,639 shares valued at a mere $8.4 million as only 17 companies participated in trading.
The JSE Market Index climbed 175.04 to close at 82,154.72 and the all Jamaica index climbed 307.99 to close at 80,244.64 and the junior market index was up 11.13 to 759.78.
There were 8 stocks advancing in price to 4 that declined, but this does not tell the full story. At the end of trading, there were 5 junior market stocks that were offered below their last traded price and only 1 that had a bid above the last sale, a negative indicator for this market. The main market was more positive with 5 stocks with bids higher than the last traded price and only 1 with an offer below. The latter was Mayberry, which has not had a strong bid in recent months with the offer price now at $2.15 versus a last sale of $2.50.
Main Market | In main market activity, Caribbean Cement saw trading in just 7,000 but the price moved up 33 cents to $2.40 while Carreras traded 26,958 units to close at $40 up 50 cents; Grace Kennedy traded 13,930 units at $55; Jamaica Money Market Brokers traded 21,475 shares to close at $8.12, up 2 cents; Scotia Group traded 18,047 shares, down 50 cents in closing at $20; Supreme Ventures 516,479 units resulted in a final price of $2.55 down by 5 cents and Proven Investments 8% saw trading in 465,000 units and closed firm at $5.09.
Junior Market | In another day of low trading in the junior market, only shares of 6 companies traded but General Accident Insurance, which had a small volume of 7,400 units closed at $1.70 up 10 cents; Lasco Distributors exchanged 31,618 units to close firm at $1.50; Lasco Financial Services traded 140,600 units firm at $1.17 and Lasco Manufacturing 15,000 at $1.50 up 10 cents.
The three Lasco companies are expected to release results by early next week. Also due out by next week are Mayberry, Grace and Hardware & Lumber.