Sharp rise in JSE USD Market

The Jamaica Stock Exchange, US dollar market, climbed sharply higher on Friday to close June at the highest point for the month and with a gain of 9.55 per cent year to date after a 44 percent decline in the volume of stocks changing hands with 49 percent lower value than on Thursday, resulting in trading of six securities, compared to eight on Thursday with two rising, one declining and three ending unchanged.
A total of 179,896 shares were traded for US$10,636 compared with 323,116 units at US$20,789 on Thursday.
Trading on Friday averaged 29,983 shares at US$1,773 compared with 40,390 units at US$2,599 on Thursday, with a month to date average of 60,969 shares at US$3,967 down from 62,192 units at US$4,054 on the previous day. May ended with an average of 43,350 units for US$2,759.
The US Denominated Equities Index rose 9.49 points to 256.40.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.4. The PE ratio is computed based on the last traded price divided by projected earnings done by ICInsider.com for companies with financial year ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows one stock ending with a bid higher than the last selling price and none with a lower offer.
In closing, Productive Business Solutions rose 5 cents to US$1.75 in trading 1,600 shares, Proven Investments ended at 16 US cents, with 30,284 units changing hands, Sterling Investments ended at 1.6 US cents in swapping 4,656 stocks and Transjamaican Highway rallied 0.33 of a cent and ended at a 52 weeks’ closing high of 1.93 US cents with a transfer of 143,234 stock units.
In the preference segment, JMMB Group 5.75% fell 10 cents to end at US$2 after an exchange of 104 shares and JMMB Group 6% ended at US$1.184, with 18 stocks being traded.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.