Shares of micro-lender ISP Finance, jumped 23 percent with a rise of $5.56 in two days to close at $29.50 on Friday on the Jamaica Stock Exchange Junior Market following an announcement of acquiring a loan portfolio. The market closed the week with a 148 percent jump in the volume of stocks traded, with a 42 percent higher value than Thursday following trading in 41 securities down from 47 on Thursday and ending with prices of 17 rising, 16 declining and eight closing unchanged.
Trading ended with 12,380,784 stock units being exchanged for $15,337,067, up from 4,996,614 units at $10,823,492 on Thursday and averaged 301,970 shares at $374,075 compared with 106,311 stocks at $230,287 on Thursday. For the month to date, trading averaged 182,731 stock units at $302,986 compared to 170,354 stock units at $295,607 on the previous day and January with an average of 350,850 shares at $615,775.
At the close of the market, Kintyre Holdings had an exchange of 4.94 million shares for 39.9 percent of total volume followed by Jamaican Teas which ended with 3.28 million stocks for 26.5 percent of the day’s trade and Paramount Trading with 2.0 million stock units for 16.2 percent of the share of the market activity.
At the close of trading, the Junior Market Index increased 15.41 points to end at 3,713.09. The Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and four with lower offers.The Junior Market ended trading with an average PE Ratio of 13.2, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2025.
At the close of a week with a minor contraction in the market value, Caribbean Assurance Brokers increased 8 cents to end at $2.58 with 769 stocks passing through the market, Dolla Financial rose 11 cents in closing at $2.90 with investors trading 162,689 units, Express Catering advanced 14 cents to $3.20 with 500 shares clearing the market. Indies Pharma rose 6 cents to close at $3.37 after a transfer of 149 stock units, ISP Finance rallied $1.50 to finish at $29.50 with 9,745 shares changing hands after trading at 52 weeks’ high of $32, Jamaican Teas gained 12 cents and ended at $2.29 with a transfer of 3,277,735 stocks. JFP Ltd sank 9 cents to end at 77 cents with 18,834 stock units crossing the market, Limners and Bards climbed 6 cents in closing at $1.26 as investors exchanged 117 stock units, Lumber Depot increased 6 cents to close at $2.88 after the trading of 102,673 shares. Medical Disposables shed 11 cents and ended at $1.70 after an exchange of 26,050 units, Omni Industries sank 6 cents to end at $1 with investors trading 410,209 stocks, Paramount Trading slipped 11 cents to finish at $1.03 in an exchange of 2,003,275 stock units. Regency Petroleum fell 11 cents to $3.19 with traders dealing in 60,346 shares, Spur Tree Spices declined 9 cents to end at $1.69 with 116,921 units crossing the exchange and tTech shed 26 cents in closing at $1.47 with 300 stocks switching owners.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The market closed with an exchange of 172,951 shares for US$8,636 compared to 127,825 stocks at US$3,803 on Wednesday. Trading averaged 19,217 shares at US$960 compared to 42,608 stocks at US$1,268 on Wednesday, with a month to date average of 224,904 units at US$8,706 compared with 256,821 shares at US$9,908 on the previous day and January that ended with an average of 103,137 units for US$4,549.
Last year’s annual general meeting scheduled to be held on November 21, 2024, was postponed until January, this targeted date has been pushed back, but no doubt will be held drown about March or April. The portfolio is acquired from a large Jamaican owned banking group. ISP had stated in 2021 that they were in discussions to acquire a portion of the loan portfolio of Micro lender, Mundo Finance but that deal was never materialized.