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Feb 15: Feeling the love, JSE stocks rally

Published:Monday | February 15, 2016 | 2:03 PM

Investors continued to show love to Jamaican stocks on Monday, with advancing stocks dominating the trading day. The Jamaica Stock Exchange Combined Index closed up by 3,397 points or 1.99 per cent at 174,083.53 points.

It follows two days of losses for stocks, from February 11-12, a period in which the Jamaican government was in the debt market with new bond issues targeted to raise $15 billion.

On Monday, 48 stocks traded on the JSE, 35 of which appreciated in value, while seven declined and the price of the other six were unchanged.

Overall market volume amounted to 23.8 million units valued at over $153 million.

The top three market movers, which accounted for 56 per cent of volume trades, were all junior stocks: General Accident Insurance, which rose five cents to $2.15; Lasco Manufacturing, which traded flat at $4.96; and Derrimon Trading Company, up 10 cents at $4.65.

The combined index includes the main, junior and US dollar equities markets. The JSE Index rose by 3,162.74 points to close at 162,457.79 points; the Junior Market Index gained 45.92 points to close at 2,313.78; and the JSE USD Equities Index closed up 0.74 point at 159.67 points.

business@gleanerjm.com