Wednesday, 12th June 2013 | While there were only 5 stocks traded on the junior market yesterday, today’s activity resulted in 11 stocks traded. With the exception of Blue Power that traded at an all time high of $8.65, up 64 cents for the day, as 52,315 units traded, price movement in the junior market was generally moderate. The overall stock market seems to have lost some of the recent sparkle as investors seem to have priced in a fair bit of the improved results of companies or adjusted for the undervaluation of others. The market may just be consolidating for awhile before moving in a major way again. This is worth watching.
Dolphin Cove traded 800,000 units to be the largest trade in the junior market and second largest trade for the day for the overall stock exchange. The stock closed at $8.45, a 52 weeks high. Sagicor Life traded 2,011,745 units as the stock closed at $9.01, having traded between $8.80 and $9.01.
Grace Kennedy traded up $1 to at $59 while trading 23,167 units. Lasco Distributors closed at $13.50 up 50 cents with a volume of 19,297 units trading. Lasco Financial Services lost 29 cents to close at $9.70 on small volume. Carib Cement traded as high as $1 in early trading but closed at $0.90. Consolidated Bakeries traded 58,750 shares at $1.15, in continuation of recovery from the sharp sell off when the company released poor full year results earlier this year. Lasco Manufacturing traded firm at $14.10 with 101,610 units changing hands.
The various market indices inched up a bit except the cross listed and US dollar indices where there was no traded stock. The advance decline ratio remains positive with 11 stocks advancing and 6 declining, on a day when 4.1 million shares changed hands with a value of $34.7 million.
At the end of trading, bids for 8 stocks were higher and no stock had an offer that was lower than their last selling price.
