Keep an eye on Scotia Group

With cut in Bank of Jamaica benchmark interest rate by 25 basis points in the last week of August and fall in the August Treasury bill rates, new life was brought to the main market last week with a number of days of record high.
The entire main market is on IC’s watch list as the all Jamaica Composite Index could move to the 300,000 points mark before long.
The most noted move in the Jamaica Stock Exchange last week was Scotia Group racing to a record high of $52 but ending the week without any stock being offered for sale. This stock has to head the stocks to watch list this week.
Others on the list are Barita Investments and Berger Paints two stocks that are subject of takeover offers, both stocks fell back sharply during the week, moves that appear unwarranted. Others on the list are, JMMB Group, NCB Financial Group with just 47,000 units on offer between $90 and $100, Sagicor Group and Supreme Ventures with a 41 percent rise in half year profit.
In the Junior Market, Caribbean Producers with improved 2017 results over 2016 with profit doubling, Jetcon Corporation that came under some selling pressure last week and fell to $4.50 and Stationery & Office Supplies complete the watch list.

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