Fesco jumps 33% on listing debut

Freshly listed Future Energy Source dominated market activity with just over 75 percent of the total volume traded with a record closing price of $1.06 or 33 percent gain on the opening price of 80 cents after the total volume traded jumped 487 percent and the value, 157 percent above Thursday outturn at the close of the Junior Market of the Jamaica Stock Exchange on Friday.
The market index ended with a gain of 13.99 points at 3,150.55, with an increase of 19 2 percent year to date. Trading ended with 34 securities changing hands compared to 35 on Thursday and closed with the prices of 12 stocks rising, 14 declining and eight closing unchanged. The PE Ratio, based on ICInsider.com’s forecast of 2021-22 earnings, averages 12.9.
The market closed with an exchange of 26,069,242 shares for $47,035,182 upon the 4,442,267 units at $18,272,766 on Thursday. Following the volume leader are Lasco Distributors with 6.9 percent for 1.8 million units, Fosrich 4.4 percent with 1.15 million units and Fontana with 2.3 percent for 589,842 shares changing hands.
Trading averaged 766,742 units at $1,383,388 in contrast to 126,922 at $522,079 on Thursday. Trading month to date averages 227,626 units at $678,986, up from 190,819 units at $630,894 on Thursday. March closed with an average of 252,633 units at $733,196.
Investor’s Choice bid-offer indicator reading shows two stocks ending with bids higher than their last selling prices and none with lower offers.
At the close, Caribbean Cream rose 79 cents to $6.29, with 5,065 shares crossing the market. Caribbean Producers lost 10 cents in closing at $3.90, with an exchange of 324,420 stock units, Elite Diagnostic shed 14 cents to close at $3 in the transferring of 69,628 units, Everything Fresh ended 5 cents lower at $1 with the swapping of 700 units. Express Catering rose 34 cents to $4.45 in trading 91,353 shares, Fontana lost 5 cents to close at $5.75 with 589,842 stocks changing hands, Fosrich fell 48 cents, ending at $6.50 in switching ownership of 1,150,146 shares. Future Energy Source advanced 26 cents to end at a record $1.06 with 19,680,813 stocks crossing the market, Indies Pharma picked up 7 cents to close at $4.19 trading 89,595 shares. Iron Rock Insurance rose 20 cents to $4 with 5,263 shares crossing the market, Jamaican Teas gained 10 cents to close at $3.60 in the swapping of 577,253 shares, Jetcon Corporation ended 6 cents lower at 78 cents after 4,000 stock units cleared the market, Lasco Manufacturing rose 75 cents in closing at a 52 weeks’ closing high of $5.45 with a transfer of 49,020 stocks. Lumber Depot carved out a gain of 2 cents to close at $2.49 after trading 505,232 units, Mailpac Group declined 8 cents to close at $3.42 with 305,323 stock units changing hands and Main Event dropped 40 cents to end at $4.05 after trading 36,163 stocks.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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