The Jamaica Stock Exchange got off to a very slow start with only 10 securities trading after an hour of the market’s opening. The slow start did not prevent Carreras from hitting a new 52 weeks’ high of $65, following impressive December quarter results showing a big increase in net profit. That information seems wrong as the company is reporting September 2014 quarterly figures as the December 2014 figures. Nevertheless the earnings in the December 2015 quarter is $1.83 per share which would put a full year’s earnings around $8.
After 75 minutes, trading picked up with 21 securities changing hands with Scotia Group trading up to $36 but later at $34.50, Honey Bun traded at a new high of $12.15 as 5,000 shares traded, Jamaican Teas traded 82,441 units at new highs up to $8 but settled at $7 after losing 80 cents, Lasco Financial traded 50,000 units at $3.60 compared to Friday’s $3 close, Lasco Manufacturing pulled back to $4.20 from $5 with 10,003 and Sweet River traded 1,388 at a high of $4. By 11 am a total of 25 securities traded amounting to 1,251,222 shares 10 recorded price gains and 8 fell.
The all Jamaica Composite Index jumped 3,232.56 points to 180,210.06, the JSE Market Index gained 2,892.52 points to 162,187.57, the JSE combined index climbed 2,449.61 points to 173,136.09 and the junior market index dropped 30.76 points to 2,237.10.
JSE make big gains in early trading
February 15, 2016 by
