Saturday 16 November, 2019

Barita Investments led gains during Tuesday's trading

Barita was taken over last year by Cornerstone Investments, a private equity firm.

Barita was taken over last year by Cornerstone Investments, a private equity firm.

Barita Investments Limited led gains on Tuesday’s trading of the Jamaica Stock Exchange (JSE) following news of good results and the possibility of a second rights issue.

The board will meet on Thursday to decide whether to go ahead with plans to raise further funds. The amount under consideration is yet to be disclosed to the investing public.

Barita raised $4 billion in a rights issue earlier in the year which fuelled its profit growth.

Barita's stock gained 16 per cent on Tuesday to close at $52.34. It was followed by JMMB Group up 10.7 per cent to $53.00. Also, Ciboney gained 11 per cent to close at $0.10.

GWest led declines down 11 per cent to 0.80. It was followed by Jamaica Producers down 10 per cent to close at $26.59.

The JSE Combined Index advanced by 6,481.58 points ( 1.38 per cent) to close at 477,708.00 and the JSE Index advanced by 7,540.72 points ( 1.58 per cent) to close at 483,522.32.

The JSE All Jamaican Composite Index advanced by 8,298.01 points ( 1.59 per cent) to close at 530,993.12, while the JSE Select Index advanced by 262.54 points ( 2.15 per cent) to close at 12,477.81.

The JSE Cross Listed Index closed at 100.08

The Junior Market Index declined by 41.37 points ( 1.34 per cent) to close at 3,048.01; the JSE USD Equities Index advanced by 0.07 points ( 0.04 per cent) to close at 187.31 and the JSE Financial Index advanced by 3.09 point ( 2.43 per cent) to close at 130.09.

The overall market activity resulted from trading in 67 stocks of which 28 advanced, 31 declined and 8 traded firm.

Market volume amounted to 34,243,130 units valued at over $128 million. Wigton Windfarm was the volume leader with 29,749,338 units (86.88per cent) followed by Carreras with 494,439 units (1.44 per cent) and Derrimon Trading with 432,928 units (1.26 per cent).

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