May 12, 2009 0
Jamaica Business Headlines – May 12, 2009
- Salada Foods Jamaica Ltd Cuts Costs Across the Board in Q02 2008-2009
- Hardware and Lumber Ltd Begins 2009 with Third Consecutive Quarterly Loss
May 12, 2009 0
Yesterday’s Major Stock Market Moves
In Jamaica Stock Exchange activity yesterday (May 10, 2009), here were the major movers:
Capital & Credit Financial Group Ltd. ended up by 13% (closing price $4.50). Capital & Credit has advised of its annual general meeting to be held at the Knutsford Court Hotel on May 13, 2009. One question that’s sure to be asked relates to the savings expected from the redundancy exercise pursued earlier this year. Another key question could be about what revenue will augment the continual fall off in net gains on securities trading.
Sagicor Life Jamaica Ltd. ended down by 3% (closing price $4.34). AM Best (a company that provides news, ratings and financial data products and services for the insurance industry) has revised its outlook to negative alongside the affirmation of the financial strength rating of A to Sagicor Life. The international insurance rating agency highlighted Jamaica’s low GDP growth over the past decade, high inflation rates and a depreciating Jamaican dollar among the factors influencing this downward revision.