Tuesday, 23 July 3013 | Trading levels have slowed in the junior market as the three Lasco companies that have had frenetic trading since the beginning of June have seen demand taper down after a 10 for one stock split. Trading on the market took place in 26 companies as 2.5 million units traded at a value of $23 million on a day when 8 stocks advanced to 4 declining with 14 traded without a change in price at the end of the trading session.
Junior Market | Nine stocks traded in the junior market, Lasco Financial Services closed at a new all-time high of $1.46 as only 62,700 shares traded. Lasco Distributors traded 413,120 shares and closed at $1.52, up 10 cents and Manufacturing closed at $1.80 up 17 cents with 180,178 units. Paramount traded 119,412 units at $3.30 with no change in the price.
Carreras traded 100,650 units valued at $5.3 million as the stock closed at $52.51, the same closing price as Monday. Grace had 90,530 units changing hands at a value of $5 million, closing at $56. JMMB closed up 49 cents at $8.50 with 407,496 units and absorbed $3.46 million in the process. Jamaica Producers lost 99 cents to close at $19.01 with just over 9,000 units traded. National Commercial Bank traded 39,170 units, closed up 45 cents at $19.50. Sagicor Life chipped in with 56,000 units, all traded at $9, the same price as the close on Monday. Scotia Group traded 93,000 units at $21.20 costing $2 million.
IPO listing | Jamaica Stock Exchange ordinary shares which was listed today, did not trade but the stock had bids for 149,000 at the offer price of $2.85 and an offer at $3.26 to sell 20,000.
The bid offer indicator has just one stock with a bid higher than the last selling price and 2 lower.
Company results | The quality of company results will have a telling effect on the market going forward. At the end of today’s trading Hardware & Lumber released impressive profits which are up strongly over 2012 as well as up strongly on the first quarter of this year. The improvement should encourage more interest in the stock.
