Friday, 8th November 2013 | Volumes were very light in the entire Jamaica Stock market with the vast majority of stocks having only small trades with a mere $3,266,648 expended on 575,679 shares.
The big move of the day is the $10 drop in First Caribbean International Bank as it traded 3,367 units to close at $90, a new 52 weeks low and pulled the main market index down by 4 percent by hitting off 3,322.37 points to close at 78,679.41. In the meantime, the all Jamaica index was down by 1,368.01 to 78,607.71 and the junior market index was down 2.79 to 722.84. The number of stocks advancing was just above those that fell by 7 to 6.
Main market | In actual trading, Barita Investments had 11,672 as the price fell to $2 down 30 cents for a 52 weeks low; Caribbean Cement, fresh from reporting strong third quarter profits has shot up to $2.69 while trading only 4,386 shares for 29 cents gain; Carreras traded 10,300 and closed at $39 down; Gleaner exchanged only 5,909 closing at $1.11; Grace Kennedy moved up $2 to $57 with 2,873 units changing hands; Jamaica Broilers Group put in 5,162 units and closed firm at $4.00; Jamaica Money Market Brokers had just 6,300 units as it traded to close at $8.05; Mayberry Investments had 6,747 units at $1.90; Pan Jamaican put in 3,160 units at $48.05; Sagicor Life exchanged 7,718 units as it closed firm at $8; Scotia Group put in 76,106 units to close at $18.35, down $1.65.
Jamaica Money Market Brokers 7.50% preference shares saw 26,000 units trading at $2.
Junior Market | After two days of little activity, things were a bit better on the last business day of the week as there was trading in 6 junior market companies with Caribbean Flavours exchanging 11,300 units to close at $2.65; Caribbean Producers swapped just 1,000 units at $1.92 closing down by 8 cents; Consolidated Bakeries fresh improved results for the September quarter and the nine months enjoyed some interest with167,320 shares and closed up 9 cents at $1.25; Lasco Financial Services has failed so far to respond to continued good results traded only 20,602 unit and closed at $1 and Lasco Manufacturing had 164,772 units changing hands at $1.38.
IC bid-offer Indicator | At the end of trading, the bid-offer indicator showed strong improvement in market sentiment reading with the bids for 9 stocks being higher and 1 stock with an offer lower than their last selling price.