Tuesday 7 April, 2020

SSL Ventures jumps 25 per cent in a day

SSL Venture Capital Jamaica Limited jumped 25 per cent on Wednesday resulting in it now trading above par for the New Year.

SSL Ventures gains on Wednesday beat all other stocks on the day.

The company is now worth $528 million in market capitalisation from $424 million a day before.

It closed at $1.32 up from starting the year at $1.14. It is still however some way from its 52-week high of $2.00. The stock will also open higher on Thursday at $1.38 signalling some support for the increased price.

In late December, SSL Ventures advised the market that it appointed three new non-executive directors, Brent Ciurlino, John Jackson and Christine Birch. It follows a slew of management changes at the company over the year including the departure of Mark Croskery who headed the entity.

Also on the day, Dolphin Cove gained 16.1 per cent to close at $11.96.

The JSE Combined Index declined by 3,532.81 points (0.70 per cent) to close at 501,636.21. The JSE Index declined by 3,730.51 points (0.73 per cent) to close at 507,274.10. The Junior Market Index declined by 9.59 points (0.30 per cent) to close at 3,240.51. The JSE USD Equities Index advanced by 2.41 points (1.07 per cent) to close at 228.37. The JSE Financial Index declined by 0.90 points (0.65 per cent) to close at 137.27. The JSE Manufacturing & Distribution Index declined by 1.33 points (1.34 per cent) to close at 97.75.

Overall Market activity resulted from trading in 76 stocks of which 29 advanced, 36 declined and 11 traded firm.

Market volume amounted to 27,417,641 units valued at over $114 million. Sagicor Select Funds--Financial was the volume leader with 6,441,850 units (23.5 per cent).

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