Friday 24 May, 2019

Stationery and Office Supplies, Salada led weekly gains on JSE

Stationery and Office Supplies Limited (SOS) and Salada Foods led weekly gains on the Jamaica Stock Exchange (JSE) arising from positive quarterly results.

Both stocks hit record highs during the week with a slight tempering in price at the end but still rallying hard.

SOS gained 18 per cent to close at $8.91 led by the release of first-quarter results up 47 per cent year on year to $45 million. It was followed by Salada up 14 per cent to close $13. Salada released second quarter results with profit increasing 91 per cent year on year to $53.5 million.

During the trading week, the JSE Combined Index declined by 3,016.09 points (0.99 per cent) to close at 305,942.30. The JSE Index declined by 2,922.92 points (0.98 per cent) to close at 298,408.49.

The JSE All Jamaican Composite Index declined by 3,208.09 points (0.98 per cent) to close at 327,520.83. The JSE Select Index declined by 163.23 points (1.82 per cent) to close at 8,953.23.

The Junior Market Index declined by 30.12 points (1.04 per cent) to close at 2,893.95. The JSE USD Equities Index advanced by 9.46 points (5.43 per cent) to close at 174.28.

Overall Market activity resulted from trading in 93 stocks of which 34 advanced, 22 declined and 37 traded firm.

Market volume amounted to 42,629,771 units valued at over $473,228,280.74. Caribbean Producers Jamaica Limited was the volume leader with 7,958,521 units (18.67per cent) followed by Lasco Manufacturing Limited with 6,936,123 units (16.27per cent) and IronRock Insurance Company Limited with 3,329,039 units (7.81per cent).

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