Thursday 21 November, 2019

MPC Clean Energy gained 20 per cent last trading week

Loop file photo of MPC Clean Energy's listing ceremony last year.

Loop file photo of MPC Clean Energy's listing ceremony last year.

MPC Clean Energy gained 20 per cent in its value during the trading week on the Jamaica Stock Exchange (JSE) ahead of its rights issue.
 
The company’s stock closed the week up $37 to $190. Investors are queuing up to buy the stock but there are currently no sellers of the stock.
 
Earlier this month the company launched its Paradise Park solar plant and will before year-end issue new shares in a rights issue. Details of the rights issue are still undisclosed.
  
Consolidated Bakeries followed gains up 16 per cent to close at $1.98 during the week. Pulse Investments also gained 15 per cent during the week to close at $4.48. 
 
On the losing side, Sterling Investments lost 22 per cent of its value to US$0.03, Ciboney lost 20 per cent of its value to $0.10 and Stanley Motta lost 11 per cent to $5.46 during the week.
 

The JSE Combined Index declined by 1,410.32 points (0.28 per cent) to close at 498,311.75 and the JSE Index declined by 1,451.14 points (0.29 per cent) to close at 501,776.77.
 
 The JSE All Jamaican Composite Index declined by 1,672.21 points (0.30 per cent) to close at 551,122.21 and the Junior Market Index declined by 6.98 points (0.21 per cent) to close at 3,397.81. 
 
Meanwhile, the JSE USD Equities Index advanced by 0.26 points (0.13 per cent) to close at 196.73. The JSE Financial Index declined by 0.68 points (0.50 per cent) to close at 136.66. The JSE Manufacturing & Distribution Index declined by 0.14 points (0.15 per cent) to close at 96.24.
 
Overall Market activity resulted from trading in 111 stocks of which 35 advanced, 40 declined and 36 traded firm.
 
Market volume amounted to 165,666,870 units valued at over $4.4 billion. Wigton Windfarm was the volume leader with 60,954,586 units (36.79 per cent) followed by Barita Investments with 50,261,575 units (30.34 per cent) and Sagicor Select with 20,615,595 units (12.44 per cent).
 

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