Saturday 22 September, 2018

Blue Power gains 8% to lead JSE on Wednesday

The Blue Power Group stock jumped eight per cent to lead gains in Wednesday's trading session of the Jamaica Stock Exchange (JSE).

It was the first trading day of the week following the yuletide celebrations. The Blue Power stock closed at $27 after 10,000 units traded hands. Blue Power is benefiting from good results which showed its price to
earnings (PE) as undervalued when compared to the market PE.

On the day, Barita Investments gained 7.9 per cent to close at $5.99 from the trading of 59,690 units.

The JSE Combined Index advanced by 3,991.66 points (2.02 per cent) to close at 201,943.16. The JSE Index advanced by 4,078.62 points (2.20 per cent) to close at 189,246.69. The Junior Market Index advanced by 20.38 points ( 0.80 per cent) to close at 2,573.55. The JSE USD Equities Index declined by 0.19 points ( 0.12 per cent) to close at 164.50.

Overall Market activity resulted from trading in 36 stocks of which 19 advanced, 10 declined and seven traded firm.

Market volume amounted to 4,305,287 units valued at over $30 million. Lasco Distributors Limited was the volume leader with 1,117,322 units (25.95 per cent), followed by Jetcon Corporation Limited with 1,094,291
units (25.42 per cent) and Jamaica Producers Group Ltd. with 968,280 units (22.49 per cent)