Trading on the Junior Market picked up sharply on Friday as the newly listed Express Catering started trading but hardly contributed to the level of trading with supply being low and demand overwhelming, that would have resulted in the price reaching $3, if the circuit breaker did not prevent it.
By the close there were more than 7.64 million units on the bid for Express Catering, ranging from $2.20 to a high of $3.15, which were all cancelled, in addition, those between $2.01 up to $2. The official position at the close was the highest bid of $2 with interest to buy 1.045 million units, the stock can trade at $2.60 maximum on Monday, which is 30 percent higher than the bid of $2.
Trading was dominated by Caribbean Flavours with 1.4 million units, Jetcon Corporation with over 600,000 shares and Lasco Manufacturing with nearly 2.3 million shares. In the end the, 8,428,003 shares valued at $32,387,101 traded with the new listing accounting for just 100 units at $1.74 to record a gain of 24 cents on the initial public issue price. In contrast, on Thursday, only 565,346 shares valued at $3,255,463 traded. At the close, the market index rose 15.05 points to 2,956.28
At the close 20 securities traded, down from 21 on Thursday with 8 stocks gaining and 1 declining. Trading closed with 4 stocks having a higher bids than the last traded price and 2 closing with lower offers.
The Junior Market ended trading with an average of just 421,400 units for an average value of $1,619,355 compared to 26,921 units for an average value of $155,022 on Thursday. The average volume and value for the month to date amounts to 74,208 units valued at $366,206 compared 51,062 units valued at $282,663 previously. In contrast, June closed with averages of 395,969 units valued at $1,799,200 for each security traded.
At the close of the market, Access Financial Services added 49 cents to close at $46.50 in trading traded 413 units AMG Packaging gained 40 cents to close at $3.50 with 8,000 units changing hands, CAC 2000 rose just 1 cents with 36,639 shares trading to end at $6.71, Cargo Handlers ended trading 1,312 shares to close at $13.75, Caribbean Cream closed trading with 35,000 units at $5, Caribbean Flavours traded 1,400,000 units to end at $12, Caribbean Producers lost 10 cents and closed trading with 15,936 units, at $3.30, Derrimon Trading ended at $8 with 10,404 shares changing hands, Dolphin Cove ended at $17.50 with 1,000 shares changing hands, Eppley jumped $1.15 and closed trading with 3.481 shares at $12.95, General Accident lost 2 cents and closed trading with 9,637 shares to end at $2.70, ISP Finance jumped $3 and closed with 5,858 units changing hands at $14, Jetcon Corporation traded 635,488 shares to end at $4.54, Key Insurance ended at $3.05 with 12,101 shares changing hands, Knutsford Express traded 11,540 shares to end at $14, Lasco Distributors closed 6 cents higher at $6.31 after trading 128,623 units, Lasco Financial ended with 15,048 shares changing hands at $3.55, Lasco Manufacturing gained 20 cents and ended with 2,260,729 shares trading at $4.80, Main Event closed with 11,972 shares trading at $5.60 and strong> Medical Disposables ended at $5.50 with 6,100 units trading, Paramount Trading ended with 1,140 units changing hands at $2.75.
Massive demand for Express Catering
July 21, 2017 by IC Insider.com
Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: AMG Packaging, CAC 2000, Cargo Handlers, Caribbean Producers, Daily Trading, Derrimon Trading, Dolphin Cove, Emerging stock market, Eppley, Honey Bun, ISP Finance, Jamaican stocks, Jetcon Corporation, junior market, Key Insurance, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Main Event, Paramount Trading, Trading Activity
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