Junior Market could jump Wednesday

The Junior Market concluded trading with 32 securities changing hands compared to 32 on Monday, with the Market Index slipping 19.21 points to settle at 2,533.00. The market could get a big jolt in Wednesday trading, with two Lasco companies releasing strong results after the market closed.

Two Lasco companies posted good Q1 results.

Lasco Distributors’ profit jumped sharply by 57 percent on a combination of reduced cost. It increased revenues to $258 million while the manufacturing company posted a 21 percent increase in profit to $342 million with modestly rising sales and reduced cost.
In trading on Tuesday, the market ended with the prices of 10 stocks rising, 16 declining and six remaining unchanged and the average PE Ratio of the Junior Market ended at 10.7 based on IC Insider.com’s forecast of 2020-21 earnings.
Market activities ended with an exchange of 7,640,477 shares for $18,768,624 compared to 5,577,292 units at $13,949,566 on Monday.
Caribbean Producers led trading with 5.24 million shares for 69 percent of total volume, followed by Lasco Distributors with 429,766 units for 5.6 percent of the day’s trade and Mailpac Group with 314,557 units for 4 percent market share.
Investors exchanged an average of 238,765 units at $586,519 in contrast to 174,290 at $435,924 for each security traded on Monday. An average of 277,046 units traded at $754,046 for the month to date, in contrast to 279,101 units at $746,924 previously. Trading in June resulted in an average of 245,049 units at $689,955 trading.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading was flashing negative signal, with only two stocks ended with bids higher than their last selling prices and seven with lower offers.
At the close of the market, AMG Packaging carved out a loss 10 cents in finishing at $1.65 with 2,451 shares traded, Blue Power declined by 1 cent to end at $3.29 in exchanging 104,343 shares, Cargo Handlers dropped $1.10 to settle at $6.50 with investors transferring 1,765 stock units. Caribbean Cream fell 14 cents in closing at $3.85 with 30,204 shares changing hands, Caribbean Flavours jumped $1 to finish at $11.50 in exchanging 3,000 shares, Caribbean Producers gained 3 cents to settle at $2.38 with 5,243,275 units traded. Derrimon Trading gained 14 cents to close at $2.39 after exchanging 31,300 units, Dolphin Cove climbed 59 cents to end at $7.59 with 200 shares changing hands, Everything Fresh slipped 8 cents to 65 cents and clearing the market with 106,923 units. Express Catering declined by 9 cents to close at $4 with 13,342 shares traded, Fontana lost 8 cents to settle at $5 in an exchange of 141,876 shares, General Accident increased 25 cents to $6.95 with 52,270 stock units changing hands. GWest Corporation declined 1 cent to close at 87 cents with investors swapping 15,622 stock units, iCreate added 2 cents to end at 56 cents with investors transferring 1,460 units, Indies Pharma climbed 10 cents to $3 with 60,000 shares passing through the market. Jamaican Teas fell 1 cent to $4.99 trading 119,441 stock units, Jetcon Corporation gained 10 cents to close at $1.02 with an exchange of 6,800 units, Lasco Distributors advanced 15 cents to settle at $3, trading 429,766 stock units. Lasco Financial fell 14 cents to close at $2.41 with 20,750 units traded, Lasco Manufacturing declined by 10 cents to close at $3.55 with an exchange of 92,236 stock units, Lumber Depot declined by 5 cents to end at 99 cents after investors transferred 191,852 stock units. Mailpac Group increased 12 cents to close at $2.12, with 314,557 units passing through the market, Main Event slipped 1 cent to settle at $3.99 in exchanging 96,123 shares, Medical Disposables dropped 90 cents to close at $5 with 239,464 stock units changing hands and Stationery and Office Supplies fell 38 cents to end at $5.60 with 56,101 units crossing the exchange.
In the preference segment, CAC 2000 9.5% declined by 15 cents to close at $1 while trading 48,800 shares.