The year-end rally, continued on the Jamaica Stock Exchange on Thursday, as Kingston Properties hits a new high having gained 87.5 percent for the December. Trading in the overall market resulted in the prices of 10 stocks rising and only 3 declining as 25 securities changed hands, ending in 3,028,876 units trading, valued at $10,239,236, in all market segments.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator showed 10 stocks with bids higher than their last selling prices and only 1 stock with the offer lower a clear sign of rising prices ahead.
Main Market| The JSE Market Index gained 196.62 points to 75,757.06, the JSE All Jamaican Composite index rose 219.83 points to close at 83,418.22 and the JSE combined index climbed 261.34 points to close at 77,656.27.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Cable & Wireless with 1,710,367 shares changing hands, to close 3 cents higher, at 50 cents. Carreras ended with 3,452 shares and gained 30 cents to $36.50, Grace Kennedy closed trading with 1,700 shares changing hands with a 50 cents rise, to $61. Hardware & Lumber traded 3,000 shares with the price rising 49 cents to $8. Kingston Properties closed at a new all-time high of$7.50, with a 60 cents rise with 403,000 units trading. National Commercial Bank finished with only 100 shares changing hands to close 1 cent up to $18.51, Salada Foods concluded trading with 268,045 shares, 19 cents higher at $8 and Seprod ended trading with 8,600 shares changing hands to close with a 25 cents gain at $12.50.
Firm| The stocks in the main market to close without a change in the last traded prices are, Gleaner trading just 879 units to close at 95 cents. Jamaica Broilers ended trading with 39,136 units at $4.10, Jamaica Money Market Brokers closed with 1,640 ordinary shares and finished trading at $7, Jamaica Producers ended with 6,100 shares trading, at $17.50, Mayberry Investments ended with 12,883 shares changing hands at $1.52 and Proven Investments closed with 12,385 shares at 19 US cents.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Sagicor Group with 80,500 shares trading lost 3 cents to end at $9.97 and 92,753 Scotia Group shares changed hands 1 cent lower at $20.
Preference| Jamaica Money Market Brokers 7.50% preference share finished with 903 shares trading at $2 and Proven Investments 8% preference share finished with 150 units to close trading at $5.50.
Kingston Properties up 88% in December
December 18, 2014 by
[…] Kingston Properties sold its office and warehouse property located at 83 Hagley Park Road effective January 6, 2015 for approximately Two Hundred and Thirty Million Dollars ($230 million). The property was sold to Medical Disposables & Supplies a junior market listed company. “Net proceeds of the sale are expected to be invested in other properties. Over the five years holding period, Total Return which includes annual cash yield and capital appreciation, net of transactions costs was 13.2% annually,” the company said in a release top the Jamaica Stock Exchange. Kingston Properties is primarily involved in the ownership and rental of commercial properties in the Kingston area and residential units in Miami. The company reported rental income of $77.4 million up from $66.6 million in the nine months to September 2013 and net profit of $4.5 million. […]