Cable & Wireless HQ – the stock traded 10.7m units on Thursday.
The main market indices enjoyed a second day of increases with the JSE Market Index gained 89.23 points to 95,827.25, the JSE All Jamaican Composite index added 99.71 points to 106,048.63 and the JSE combined index rose 167.49 points to end at 99,045.89.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 16 stocks with bids higher than their last selling prices and 8 with offers that were lower.
This is an indication that while there is buying interest above current prices for a large number of stocks, there are still a noticeable number of stocks that investors want to be out of, at lower prices, than the last selling price.
Stocks that particularly weak are Hardware and Lumber with a last sale of $13 now being offered at $11.50. Grace Kennedy reported earlier in the year that they were considering an offer for this subsidiary at a maximum price of $18.50 and that the deal should be closed by the end of July. To date there has been no further information on the buy out offer, even as the July deadline is long past. Sterling Investments with a last sale of $13.40, now have on offer at $13.15, 242,600 units and no bids to buy.
Trading in the main market ended with Berger Paints trading 20,000 shares at $2.28, Cable and Wireless slipped 1 cent with 10,774,000 shares changing hands, to close at 49 cents. At the close the stock had 1,122,637 units on the bid at 48 cents and 172,996 units on offer at 51 cents. Carreras traded 224,067 shares at $49.50 while gaining 50 cents, Ciboney Group with 4,365,250 shares at 9 cents, Desnoes & Geddes ended with 135,000 shares trading with a 35 cents gain to close at $6.50, Jamaica Broilers had 35,930 units trading at $6.09, JMMB Group traded at $7.63 with 10,984 shares changing ownership.
Mayberry Investments had 160,100 shares trading at $2.80, National Commercial Bank had 81,100 units changing hands and ended at $27.76 while losing just 1 cent, Sagicor Group with 80,000 shares trading, closed 1 cent higher at $12.82, Scotia Group traded 52,000 shares to close with a rise of 2 cents to $23.77. Scotia Investments traded 10,110 shares in closing at $24.53 with a gain of 1 cent, Jamaica Money Market Brokers 7.50% preference share 313,046 units at $2 and Jamaica Money Market Brokers 8.75% preference share 1,841,065 units at $2.50 fo a rise of 1 cent.
