Mailpac stock pulls back as profit takers abound
Newly-listed Mailpac Group pulled back on Tuesday with over 10 million units trading hands.
It led volumes on the day and declined 7.1 per cent at the close of trading on the Jamaica Stock Exchange. Mailpac closed down 15 cents to $1.94 in its second day of decline since listing last week. It shows investors are taking profit as the stock still towers above its $1.00 listing price.
On the day, Stanley Motto and Consolidated Bakeries led decliners, both down 11 per cent to $5.23 and $1.64 respectively. Overall Market activity resulted from trading in 72 stocks of which 28 advanced, 37 declined and seven traded firm.
The JSE Combined Index declined by 7,103.46 points (1.42 per cent) to close at 494,009.05. The JSE Index declined by 7,743.45 points (1.53 per cent) to close at 497,105.10. The Junior Market Index advanced by 1.16 points (0.03 per cent) to close at 3,397.08. The JSE USD Equities Index declined by 2.64 points (1.24 per cent) to close at 211.10. The JSE Financial Index declined by 2.58 points ( 1.88 per cent) to close at 134.93. The JSE Manufacturing & Distribution Index declined by 0.14 points (0.14 per cent) to close at 97.10.