Trading on the Junior Market of the Jamaica Stock Exchange closed on Thursday with declining stocks dominating rising ones, 2 to 1 and the market index falling 40.32 points to 3,108.88.
The market ended with 1,176,216 units valued at $5,557,230 changing hands, with the index falling 6.26 points to close at 3,149.20. On Wednesday trading closed with 2,266,721 units valued at $11,726,592.
A total of 22 securities traded, versus 26 on Wednesday, with 6 stocks rising and 12 declining. Trading closed with 10 stocks having bids higher than the last traded prices and 1 closing with a lower offer.
Trading ended trading with an average of 53,464 units for an average of $252,601 in contrast to 87,182 units for an average of $451,023 on Wednesday. The average volume and value for the month to date amounts to 70,323 units valued at $351,812. In contrast, July closed with average of 536,395 units at $1,905,441 for each security traded.
At the close of the market, stocks trading and their last traded prices are: AMG Packaging lost 12 cents to close at $3.53 with 6,000 units changing hands, Caribbean Cream rose 35 cents to $6.85 with a 4,000 shares, Caribbean Producers close at $3.45 with a 50,009 shares, Consolidated Bakeries closed with a rise of 32 cents at $2.95 with a 980 shares, Derrimon Trading ended with a lost of 30 cents, to close at $7.50 with a 7,259 shares, Express Catering lost 30 cents to close at $4.70 with a 648,533 shares, General Accident closed at $2.90 with a 103,000 shares, Honey Bun closed at $5.50 with a 1,792 units, ISP Finance traded 5,900 shares and rose 42 cents to $18.42. Jamaican Teas with a lost of 1 cent, closed at $4.51 with a 170 shares,
Jetcon Corporation ended 20 cents higher to $5.30 with a 132,075 shares, KLE Group closed at $2 with a 5,100 shares, Key Insurance closed at $3.05 with a 1,068 stock units, Knutsford Express closed at $14.90 with a 3,650 shares, Lasco Distributors fell 18 cents, to $6.70 with a 25,000 shares, Lasco Financial traded at $4.00 with a 66,575 shares after a loss of 4 cents, Lasco Manufacturing ended with a loss of 4 cents, to close at $4.33 with a 44,820 shares, Main Event eased 8 cents in closing at $5.39 with a 7,970 shares, Medical Disposables close at $5.50 with a 32,215 shares, tTech lost 50 cents and closed at $8 with a 26,000 shares, Derrimon Trading preference share fell 40 cents and closed at $2.10 with a 4,000 shares and Eppley 10% preference share close with a rise of 1 cent at $6.61 with a 100 shares.
Junior Market drops 40 points
Volume dips as most Junior stocks trade
Trading in the Junior Market of the Jamaica Stock Exchange closed on Wednesday with 84 percent of the ordinary listings being active and ending with declining stocks dominating rising ones almost 2 to 1 leading to a small fall in the market index.
At the close the volume of stocks and value of stocks traded, fell by a half of Monday levels.
The market ended with 2,266,721 units valued at $11,726,592 changing hands, with the index falling 6.26 points to close at 3,149.20. On Monday, trading closed with 4,581,201 units valued at $21,905,678.
A total of 26 securities traded, versus 22 on Monday, with 8 stocks rising and 13 declining. Trading closed with 4 stocks having bids higher than the last traded prices and 1 closing with a lower offer.
Trading ended trading with an average of 87,182 units for an average value of $451,023 in contrast to 208,236 units for an average value of $995,713 on Friday. In contrast, July closed with averages of 536,395 units valued at $1,905,441 for each security traded.
At the close of the market, stocks trading and their last traded price are Access Financial Services closing with a loss of 50 cents at $46, in trading 1,127 units, AMG Packaging rose 15 cents to close at $3.65 with 125,763 units changing hands, CAC 2000 fell 50 cents with 5,000 shares trading to end at $6.50, Cargo Handlers ended trading with 6,910 shares to close at $13.20. Caribbean Cream ended trading at $6.50 with a 35 cents loss, after trading 26,650 shares, Caribbean Producers added 10 cents to close trading with 141,875 units, at $3.45, Consolidated Bakeries rose 1 cent and ended with 74,146 units changing hands, at $2.63. C2W Music had 70,000 units changing hands, to close at 38 cents, after falling 1 cent, Derrimon Trading declined by 20 cents to end at $7.80 after with 27,119 shares changing hands. Recently listed Express Catering ended at $5 with 292,114 shares changing hands, after the company announced a dividend of 0.917 US cent per share, General Accident closed trading with 2,000 shares at $2.90, Honey Bun fell 6 cents with 208 shares changing hands at $5.50, ISP Finance closed $2 higher with 9,418 units changing hands at $18,
Jamaican Teas rose 2 cents, trading 23,819 shares to close at $4.52, Jetcon Corporation traded 47,084 shares to end at $5.10, after slipping 10 cents, Key Insurance traded 8,535 units to close at $3.05 after losing 80 cents, KLE Group ended at $2 with 6,000 shares changing hands, Knutsford Express lost 5 cents in trading 5,799 shares to end at $14.90, Lasco Distributors closed with a rise of 8 cents at $6.88, after trading 261,741 units, Lasco Financial lost 16 cents and ended with 26,052 shares changing hands at $4.04, Lasco Manufacturing rose 4 cents and ended with 42,634 shares trading at $4.37, Main Event eased 3 cents to close with 10,971 shares trading at $5.47, Medical Disposables dropped 45 cents in closing at $5.50 with 1,023,000 units trading, Paramount Trading ended with 15,500 units changing hands at $2.50, Sweet River rose 2 cents, ending with 7,494 units changing hands at $3.52 and tTech lost 50 cents in trading 5,762 units to close at $8.50.
Trading up on Junior Market
Trading in the Junior Market of the Jamaica Stock Exchange closed on Monday with a number of stocks declining just edging out those rising and led to a small fall in the market index. At the close the volume of stocks and value of stocks traded increased compared to that on Friday.
Trading ended with 4,581,201 units valued at $21,905,678 changing hands, with the market index falling 7.65 points to close at 3,155.46. On Friday, trading closed with 3,193,325 shares changing hands valued at $14,765,053.
A total of 22 securities traded, versus 20 on Friday with 7 stocks gaining and 8 declining and trading closed with 10 stocks having bids higher than the last traded prices and 2 closing with lower offers.
The Junior Market ended trading with an average of 208,236 units for an average value of $995,713 in contrast to 159,666 units for an average value of $738,253 on Friday. 
The average volume and value for the month to date amounts to 536,395 units valued at $1,905,441 compared to 552,021 units valued at $1,948,762 previously. In contrast, June closed with averages of 395,969 units valued at $1,799,200 for each security traded.
At the close of the market, stocks trading with their last traded prices are: AMG Packaging closed at $3.50 with 18,840 units changing hands, CAC 2000 traded 30 cents higher to $7 with a 32,193 shares being exchanged, Caribbean Cream had a loss of 15 cents, to close at $6.85 with a 731,500 shares trading, Caribbean Flavours closed at $12 with a 3,500 shares trading, Caribbean Producers rose 10 cent to $3.35 with a 618,208 shares traded, Consolidated Bakeries closed at $2.62 with a 15,000 shares being exchanged. C2W Music shed 1 cent to close at 39 cents with a 8,000 shares being switched, Express Catering fell 20 cents and closed at $5 with 1,302,903 shares being swapped,General Accident closed at $2.90 with a 61,215 shares traded, Honey Bun closed at $5.56 with a 2,000 shares changing hands. 
Iron Rock Insurance ended trading with a loss of 20 cents, at $3 with a 327,174 shares traded, ISP Finance closed at $16 with a 4,582 shares being traded, Jamaican Teas closed 25 cents higher to $4.50 with a 12,000 shares changing hands, Jetcon Corporation traded 15 cents higher, to close at $5.20 with a 442,571 units being swapped. Knutsford Express declined 5 cents, to close at $14.95 with a 5,184 shares switching owners, Lasco Distributors traded 30 cents higher to close at $6.80 with 325,195 shares changing owners, Lasco Financial rose 40 cents in trading 79,365 units to close trading at $4.20, Lasco Manufacturing traded with a lost 47 cents, and ending at $4.33 with a 6,963 shares being transferred, Main Event declined by 10 cents to close with 34,541 shares trading, to close at $5.50. Medical Disposables closed 45 cents higher at $5.95 with a 5,000 shares traded, Paramount Trading lost 49 cents to close at $2.50 with a 537,401 shares changing hands after the company posted a sharp fall in profits for the year to May and tTech lost 6 cents and closed at $9 with 7,866 shares trading.
NCB & Express Catering drop out
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.
Express Catering volumes settling?
Trading in Express Catering shares declined sharply lower on the Junior Market on Friday, with just 1,663,796 units trading compared to 71,508,426 units traded on Thursday. The stock climbed 60 cents to close at a record of $5.20 with 368,228 on the offer at the closing price.
There is still a large number of bids to buy the stock in the high $4 range up to $5. At this price its valued at 20 times estimated 2018 earnings. Based on the behaviour of investors in Main Event it could well be pushed higher and then settle back lower, only time will tell.
Trading elsewhere on the Junior Market remained subdued on Friday with 3,193,325 shares changing hands valued at $14,765,053, from 72,244,997 shares valued at $309,765,128 traded on Thursday. At the close, the market index rose 36.68 points to 3,163.11.
Twenty (20) securities traded, versus 21 on Thursday with 7 stocks gaining and 3 declining and closed with 3 stocks having bids higher than the last traded prices and 4 closing with lower offers.
The Junior Market ended trading with an average of 159,666 units for an average value of $738,253 in contrast to 3,440,238 units for an average value of $14,750,720 on Thursday. The average volume and value for the month to date amounts to 552,021 units valued at $1,948,762 compared to 571,639 units valued at $2,009,287 previously. In contrast, June closed with averages of 395,969 units valued at $1,799,200 for each security traded.
At the close of the market, Access Financial Services closed at $46.50 in trading 500 units, AMG Packaging fell 25 cents and closed at $3.50 with 4,000 units changing hands, Cargo Handlers ended trading 5,612 shares to close at $13.20, Caribbean Cream ended trading at $7, after trading 41,257 shares, Caribbean Producers shed 14 cents to close trading with 24,986 units, at $3.25, General Accident added 20 cents, closing trading with 340,315 shares at $2.90, 
ISP Finance closed with 6,633 units changing hands at $16, Jamaican Teas rose 20 cents in trading 655,573 shares to close at $4.25, Jetcon Corporation traded 200,930 shares to end at $5.05, after gaining 8 cents, Key Insurance traded 16,750 units to close at $3.85 after rising 80 cents, KLE Group ended at $2 with 30,044 shares changing hands, Knutsford Express traded 9,497 shares to end at $15 Lasco Financial rose 25 cents and ended with 46,624 shares changing hands at $3.80, Main Event gained 10 cents to close with 127,049 shares trading at $5.60, Paramount Trading rose 4 cents and ended with 3,000 units changing hands at $2.99, tTech traded 6,500 units to close at $9.60 and Eppley 9.5% preference share jumped $1.10 to close at a 52 weeks’ high of $7.20, with 645 units trading.
54% Express Catering IPO shares trade
Starbucks one of the brands Express Catering will sell at the Montego Bay Airport.
Investors traded 71.6 million of Express Catering shares in Junior Market activity on Thursday. The day’s trade brings the total since the company’s shares were listed in the previous week, to 176,255,281 units, a very high 54 percent of the 327,500,000 units sold in the Initial Public Offer (IPO).
“A number of the large investors in the stock who had planned to hold them for a while, decided to take profit in light of the sharp uptick in the stock price,“ Gary Peart of Mayberry Investments, brokers to the IPO, advised IC Insider.com. Peart also stated that there was strong institutional demand for the stock as well. The stock traded over 70 million units for the second day running having traded 71,996,755 units on Wednesday. Express Catering’s stock price closed with a rise of 30 cents to end at a record closing high of $4.60 with 71,508,426 units traded.
Trading on the Junior Market remained high on Thursday with 72,244,997 shares changing hands valued at $309,765,128, from 73,477,574 shares valued at $263,785,025 traded on Wednesday. At the close, the market index rose 30.21 points to 3,126.43.
A total of 21 securities traded, versus 20 on Wednesday with 11 stocks gaining and 5 declining and closed with 3 stocks having bids higher than the last traded prices and 4 closing with lower offers.
The Junior Market ended trading with an average of 3,440,238 units for an average value of $14,750,720 compared to 3,673,879 units for an average value of $13,189,251 on Wednesday. The average volume and value for the month to date amounts to 571,639 units valued at $2,009,287 compared to 420,660 units valued at $1,338,685 previously. In contrast, June closed with averages of 395,969 units valued at $1,799,200 for each security traded.
At the close of the market, AMG Packaging rose 5 cents and closed at $3.75 with 10,000 units changing hands, Blue Power fell 90 cents, to close at $44 with only 213 units changing hands, CAC 2000 rose 20 cents with 200 shares trading to end at $6.70, Cargo Handlers shed 55 cents and ended trading 2,500 shares to close at $13.20, Caribbean Cream rose 20 cents, closing trading with 50,962 units at $7, Caribbean Producers gained 24 cents to close trading with 14,777 units, at $3.39, 
Dolphin Cove ended at $17.50 with 204 shares changing hands, Eppley lost 62 cents in trading 100 shares at $12.38, General Accident added 13 cents and closed trading with 6,500 shares at $2.70, Honey Bun gained 1 cent with 5,000 shares changing hands and closed at $5.56, ISP Finance closed with 367 units changing hands at $16, Jamaican Teas rose 20 cents in trading 427,263 shares to close at $4.20, Jetcon Corporation traded 32,162 shares to end at $4.97, after gaining 27 cents, KLE Group ended at $2 with 4,591 shares changing hands, Knutsford Express traded 8,340 shares to end at $15, Lasco Distributors closed at $6.50 after trading 300 units, Lasco Financial lost 5 cents and ended with 107,166 shares changing hands at $3.55, Main Event gained 10 cents to close with 50,700 shares trading at $5.60, Medical Disposables closed at $5.50 with 14,000 units trading and tTech traded 1,226 units, rising 10 cents to close at $9.60.
Express Catering up 187% to Wednesday
Ian Dear, Managing Director of Express Catering
Wednesday was the biggest day of trading in Express Catering since it listed last Friday on the Junior Market, the stock closed with an 89 cents rise to a record closing high of $4.30 with a massive 71,996,755 units trading out of a total of 73.5 million shares that traded in the market.
Express Catering’s stock price is up 187 percent from the IPO price of $1.50 so far, the stock closed with the bid at $4.30 to buy 303,034 units.
Trading on the Junior Market jumped sharply on Wednesday to 73,477,574 shares valued at $263,785,025 up from 35,527,220 shares valued at $124,668,100 traded on Tuesday. At the close, the market index rose 67.29 points to 3,096.22.
At the close 20 securities traded, down from 21 on Tuesday with 11 stocks gaining and 5 declining. Trading closed with 1 stock having a higher bid than the last traded price and 6 closing with lower offers.
The Junior Market ended trading with an average of 3,673,879 units for an average value of $13,189,251 compared to 1,691,772 units for an average value of $5,936,576 on Tuesday. The average volume and value for the month to date amounts to 571,639 units valued at $2,009,287 compared to 239,926 units valued at $680,321 previously. In contrast, June closed with averages of 395,969 units valued at $1,799,200 for each security traded.
At the close of the market, Access Financial Services closed at $46.50 in trading 33,936 units, Blue Power rose $6.90 after diving $11 on Monday and Tuesday, to close at $44.90 with only 200 units changing hands, CAC 2000 lost 20 cents with 10,007 shares trading to end at $6.50, Caribbean Cream fell 20 cents and closed trading with 112,288 units at $6.80, Caribbean Producers fell 25 cents to close trading with 19,172 units, at $3.15, Consolidated Bakeries ended with 32,020 units changing hands, to close at $2.62. Eppley closed trading with 9,500 shares at $13, General Accident added 6 cents and closed trading with 25,000 shares at $2.57, 
Honey Bun gained 55 cents with 2,149 shares changing hands and closed at $5.55, ISP Finance jumped $4 and closed with 5,424 units changing hands at $16, Jamaican Teas lost 25 cents in trading 67,099 shares to close at $4, Jetcon Corporation traded 59,800 shares to end at $4.70, after gaining 9 cents, Knutsford Express traded 6,200 shares to end at $15, Lasco Distributors closed 1 cent lower at $6.50 after trading 216,522 units, Lasco Financial rose 4 cents and ended with 176,765 shares changing hands at $3.60, Lasco Manufacturing grew 58 cents and ended with 646,045 shares trading at $4.89, Main Event gained 30 cents to close with 14,214 shares trading at $5.50, Medical Disposables closed at $5.50 with 42,656 units trading and Derrimon Trading preference share ended with 1,822 units changing hands to close at $2.50.
Express Catering jumps 96% – Tuesday
Marlene Street Forrest – General Manager of the JSE is said to have intervened to reset the price Express Catering could trade at on Tuesday.
Good sense prevailed on the Jamaica Stock Exchange on Tuesday, finally allowing Express Catering to trade close to levels that large number of investors are prepared to trade the stock. In the process the price jumped 96% from Friday’s closing price and 127 percent from the IPO price of $1.50.
At the close on Monday, bids in the market above $2.29 were cancelled, an indication that the maximum price it could trade at being $2.97. IC Insider.com understands that regulations at the exchange permitted administrative intervention in the trading restriction that allowed the stock to enjoy the revised permitted price range of $2.52 to $3.41. The stock ended up trading 32,750,000 units to close with a gain of $1.67 to $3.41. During trading, the electronic board, showed that 65.6 million units traded up to $3.80. After the market closed a large portion were cancelled since the price exceeded the limit set for the day. The stock closed with the bid at $3.50 which will allow it to trade up $4.55 on Wednesday.
Trading on the Junior Market jumped sharply on Tuesday with the large trade in Express Catering, to 35,527,220 shares valued at $124,668,100, up from 1,438.180 shares valued at $7,648,204 traded on Monday. At the close, the market index rose 40.03 points to 3,028.93.
At the close, 21 securities traded, up from 17 on Monday with 9 stocks gaining and 7 declining. Trading closed with 5 stocks having a higher bids than the last traded price and 2 closing with lower offers.
The Junior Market ended trading with an average of 1,691,772 units for an average value of $5,936,576 compared to 84,599 units for an average of $449,894 on Monday. The average volume and value for the month to date amounts to 239,926 units at $680,321, compared to 74,820 units valued at $371,129 previously. In contrast, June closed with averages of 395,969 units valued at $1,799,200 for each security traded.
At the close of the market, AMG Packaging rose 20 cents and closed at $3.70 with 1,733 units changing hands, Blue Power dived $7 after falling $ 4 on Monday to close at $38 with 8,588 units changing hands, Cargo Handlers ended trading 4,853 shares to close at $13.75, Caribbean Cream jumped by $1 and closed trading with 105,300 units at $7, Caribbean Producers gained 38 cents to close trading with 57,863 units, at $3.40, 
Consolidated Bakeries ended with 85,000 units changing hands, to close at $2.62. Dolphin Cove ended at $17.50 with 555 shares changing hands, Eppley gained 5 cents and closed trading with 16,985 shares at a new high of $13, General Accident added 1 cent and closed trading with 80,838 shares at $2.51, Honey Bun plunged $1 with 16,760 shares changing hands and closed at $5, ISP Finance slipped $2 and closed with 23,500 units changing hands at $12, Jetcon Corporation traded 62,653 shares to end at $4.61, after gaining 11 cents, Knutsford Express traded 4,481 shares to end at $15, Lasco Distributors closed 39 cents lower at $6.51 after trading 53,268 units, Lasco Financial rose 6 cents and ended with 57,505 shares changing hands at $3.56, Lasco Manufacturing shed 19 cents and ended with 2,107,735 shares trading at $4.31, Main Event lost 10 cents to close with 20,787 shares trading at $5.20, strong> Medical Disposables lost 1 cent in ending at $5.50 with 343 units trading, Paramount Trading ended with 72,354 units changing hands at $2.95 and tTech traded 4,699 units, falling 10 cents to close at $9.50.
Junior Market gains on Monday
Trading on the Junior Market dropped sharply on Monday to 1,438.180 shares valued at $7,648,204.78, from 8,428,003 shares valued at $32,387,101 on Friday. At the close, the market index rose 32.62 points to 2,988.90.
Trading ended with 17 securities changing hands, down from 20 on Friday with 5 gaining and 11 declining and with 6 stocks having a higher bids than the last traded price and 5 closing with lower offers.
The Junior Market ended trading with an average of 84,599 units for an average value of $449,894 compared to 421,400 units for an average value of $1,619,355 on Friday. The average volume and value for the month to date amounts to 74,820 units valued at $371,129 compared 74,208 units valued at $366,206 previously. In contrast, June closed with averages of 395,969 units valued at $1,799,200 for each security traded.
At the close of the market, 
AMG Packaging closed at $3.50 with 7,486 units changing hands, Blue Power dived $4 to close at $45 with 143 units, CAC 2000 lost 31 cents with 500 shares trading to end at $6.40, Caribbean Cream jumped by $1 and closed trading with 3,205 units at $6, Caribbean Producers lost 23 cents to close trading with 700 units, at $3.07, General Accident lost 20 cents and closed trading with 14,242 shares at $2.50, ISP Finance slipped $2 and closed with 23,500 units changing hands at $12, Jetcon Corporation traded 142,419 shares to end at $4.50, after slipping 4 cents, KLE Group ended at $2 with 31,325 shares changing hands, 
Knutsford Expressclimbed $1 in trading 591 shares to end at $15, Lasco Distributors closed 59 cents higher at $6.90 after trading 552,000 units, Lasco Financial lost 5 cents and ended with 235,000 shares changing hands at $3.50, Lasco Manufacturing shed 30 cents and ended with 418,482 shares trading at $4.50, Main Event lost 30 cents to close with 689 shares trading at $5.30, Medical Disposables rose 1 cent, ending at $5.51 with 250 units trading, Paramount Trading gained 20 cents and ended with 1,000 units changing hands at $2.95 and tTech traded 33,400 units, falling 40 cents to close at $9.60.
Express Catering enters TOP 10
Ian Dear, Managing Director of Express Catering
Trading started in Express Catering shares on Friday on the Junior Market, with the stock enjoying strong demand up to the $3 level. New information obtained this past week from the prospectus resulted in the earnings for this company being upgraded and it is included in the TOP stocks.
Importantly for Express Catering, the prospectus states that effective at the end on of May, the contract that gave rise to the payment of management fees was cancelled. The amount, the equivalent to 9 percent of revenues or roughly US$1.4 million will no longer be paid and should go towards boosting the bottom-line, and should result in the earnings per share around J$0.26 cents for 2018 fiscal year. The change means it is now a part of the TOP 10 Junior Market stocks. With the strong demand for the stock, it should spend just a short time in the list. The same out turn seems likely for Stationery and Office Supplies (SOS) once it starts to trade, with the 
IPO being nearly 4 times oversubscribed with more than 1,000 applications received for the 52 million shares.
With the initial public offers now out of the way, trading in the secondary markets saw more energy in the past week than for the previous two, with some stocks that were weak before, finding buying at the lower prices.
ISP Finance price rose to $14 after falling to $11 during the past week, but big declines in the prices of AMG Packaging and Caribbean Cream pushed out ISP as well Caribbean Flavours and CAC 2000 out of the top listing.
The only movement in and out of the TOP 10 in the main market were Sagicor Group that spent just one week a short while ago, coming back, as Cable & Wireless dropped out with a big gain in the price in the past week of 17.5 percent.
The average PE ratio for the Junior Market Top stocks is down at 6.6 with SOS in at a PE of 5 times 2017 earnings. The PE for the main market TOP 10, holds at 6.7. 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 45 percent to the Junior Market average, while those in the main market are trading at a 49 percent discount, to the average of the market, leaving stocks with room for growth in the months ahead.
Last week IC Insider indicated that two stocks to watch were Cable & Wireless with the price around support level and NCB Financial with very limited number of stocks currently being offered. Both stocks bounced with the former rising over 17 percent to 94 cents and NCB rising to $75 from $71.50. Active supply for NCB is very low currently and technical chart suggests a big break out for it very soon. NCB is to be watched for a possible break towards $80 and Express Catering to well over $3.
