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.
In Jamaica Stock Exchange activity yesterday (May 6, 2009), here were the major movers:
Pan Jamaican Investments Trust Ltd. ended up 6% (closing price – $28.50). The Government’s stated intention to relocated the offices of some ministries from the New Kingston area will at the very least affect Pan Jam by way of the basic tenets of demand and supply. Less demand with supply equals lower price (all other things being equal).
Jamaica Pegasus Ltd. ended down 7% (closing price – $12.51). The UDC’s apparent intention to sell its almost 60% stake may have distracted some investors from the release of their audited financial statements. Jamaica Pegasus’ net profits of J$55M is impressive or important in the context of determining a sale price. The shareholders equity of $3.860B would be more of a concern, bearing in mind that it takes into account land and building valuations which were done in March of this year.
Index Activity
JSE Market Index 79,794.38 points advanced by 79.97 points (0.10 %)
JSE Select Index 1,704.12 points advanced by 7.28 points (0.43 %)
JSE All Jamaican Composite 62,787.83 points advanced by 148.20 points (0.24 %)
Stock Activity
Stocks Traded : 21
Winners : 10 Losers : 5 Traded Firm : 6
Total Volume : 997,631 Total Value : $8,533,013.87
