Palace jumps $10 to $80

Wednesday’s activity on the Jamaica Stock Exchange, saw Palace Amusement Company jumping $10 to end at $80 with 9,550 shares changing hands, to be the leading price mover on the first trading day of the second quarter. The company posted better six months’ results to December last year and is expected to cut cost with the closure of the cinema in Mandeville.
Main Market| The JSE Market Index lost 208.43 points to 83,596.25, the JSE All Jamaican Composite index fell 233.04 points to end at 92,182.78 and the JSE combined index dropped by 111.67 points to close at 85,292.93.
Elsewhere in trading resulted in the prices of 7 stocks rising, 8 declining as 21 securities changed hands, ending in 2,749,601 units trading, valued at $20,236,546, 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 shows 8 stocks with bids higher than their last selling prices and 4 stocks with offers that were lower.
The main stocks trading in the main market are, Desnoes and Geddes with 1.5 million units ending at $5.50, for a 9 cents gain, Cable and Wireless with 710,000 units at 50 cents, Grace Kennedy with 45,844 units to close at $62 down 50 cents, as National Commercial Bank with 64,700 units and closing at $25. Sagicor Group chipped in with 86,700 units at $10.51 and Scotia Group had 79,445 units trading to close lower at $21.56.
Stocks closing with interesting bids and offers include Carreras with 88,500 units with a bid price of $40.01 with meaningful offer some distance off.
Gleaner with over 1 million units on the bid at 90 cents versus 500,000 on offer at $1.07. National Commercial Bank with a bid of $25 to buy nearly 200,000 units with the offer at $25.25 to sell 200,000 shares. Radio Jamaica with 1 million units bid at $1.48 just below the last traded price and the Sagicor Real Estate Fund with an offer to sell 1.44 million units at $6.95 and Seprod with 555,000 units on offer at $15.90.