Feb 11: Jamaican stocks fall as GOJ bond offer opens
On the day that the Jamaican government got back into the local debt market, the Combined Index of the Jamaica Stock Exchange shed 667 points to close down by 0.39 per cent at 171,240.16 points.
Some 13 million units traded valued at around $118 million on Thursday, with more than half of the trades relating to the JMMB Group. The top market movers of the 41 stocks that traded overall were JMMB Group, which gained 12 cents to close at $11.75; Gleaner Company, whose price held firm at $2.40; and Cable & Wireless Jamaica, which slipped by five cents to $1.48.
The JSE Combined Index incorporates the main and junior markets. The JSE Index declined by 609 points to close at 159,707.95 points; the Junior Market Index shed 10.32 to close at 2,286.05 points, but the JSE USD Equities Index bucked that trend to advance by 0.79 points to 159.70 points.
The Government of Jamaica aims to raise $15 billion from three bonds that are open for subscription February 11-12.