NCB Financial Group jumped to $80 on Friday & exited the top 10.
Shares of Express Catering were in strong demand during the week, with price closing at $5.20 for gains of 247 percent from the initial public issue price of $1.50. At the close of the week the stock was out of the TOP 10 and so was NCB Financial Group with the price climbing to a record $80, at the close on Friday.
Stationery and Office Supplies (SOS) will not start trading until August 9, when it is expected to surge in price based on the heavy over subscription of 3.5 times oversubscribed with more than 1,200 applications.
Trading in the past week returned to a bullish mood, with the Jamaica Stock Exchange main market index hitting new highs on Thursday and Friday. The trend is expected to continue this coming week as investors react to some new results.
Caribbean Flavours and CAC 2000 that fell out of the top listing at the end of the prior week return this week with the exit of Express Catering , Lasco Financial that rose to $3.80 and Caribbean Cream that returned to $7.
The only movement in and out of the TOP 10 in the main market were Salada Foods coming in as NCB dropped out with gains in the price in the past week.
The average PE ratio for the Junior Market Top stocks is down at 7 with SOS in at a PE of 5 times 2017 earnings. The PE for the main market TOP 10, holds at 7.3. The average PE for the overall main market, remains at 13 and 12 for Junior Market, based on 2017 estimated earnings.
At the close of the week, IC Insider.com’s TOP 10 Junior Market stocks now trade at an average discount of 42 percent to the Junior Market average, while those in the main market are trading at a 44 percent discount, to the average of the market, leaving stocks with room for growth in the months ahead.
NCB Financial and Express Catering the two stocks IC Insider.com listed as our market watch make gains during the past week. NCB has clearly broken out from a triangle of consolidation and seems to be heading higher. Express Catering could possibly rise higher but appears to be fully valued at a PE of 20 currently.
