JSE: Monday, 20th May 2013

Advancing stocks out-do declining ones again Trading picked up today as 4,114,189 units valued at over $67,585,621 were traded. National Commercial Bank 1,037,700 units valued at $19.6 million, Pan Jam traded 400,000 units at a value of $421.4 million, Carreras traded 220,989 units valued at $12.667 million, Dolphin Cove  with 816,710 units amounting to $6.6 million, Lasco Financial Services chipped in with 376,000 units valued at $3 million and General Accident Insurance Company with 505,500 units with value of $900,000. The movement and demand for the Lasco Financial shares comes against the background of earnings that are expected to be much higher than last year and should be released late this week or early next.

Major price movements were Grace falling $1.75 to $58.25, Kingston Wharves up 35 cents to close at a 52 weeks high of $7, Lasco Financial up 30 cents to $8.10 a 52 weeks high, NCB losing 44 cents to $18.55 and Scotia Investments down 50 cents to $23.50.

There was a positive advance/decline ratio of 12 to 5 thus maintaining the mildly bullish trend seen in the last 2 weeks. Supply of stocks at current price levels for the more attractive stocks are proving harder to come by suggesting that buyers will need to up their bid prices if they are to get the quantities they want. The number of stocks with bids above their last sale continue to show up in the market, an indication that sellers not prepared to sell as low as the last selling prices.

The JSE indices moved up moderately with two reflecting no change as no stocks associated with them traded.

JSEINdicesMay20

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