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Jamaica: Recently listed Guardian Holdings loses 7% of its value on Monday

Shares in Guardian Holding declined on Monday by a greater margin than the overall JSE Combined Index.

Guardian lost seven per cent on Monday to close at $899.50 while the overall market lost one per cent.

Guardian, which was cross-listed on May 5, shot up in price with investors buying as high as $1,135.  It was listed at $580 to closely match the price it trades in Trinidad and Tobago.

Also on Monday, the overall market activity resulted from trading in 96 stocks of  which 39 advanced, 44 declined and 13 traded firm.

Over 3.2 million Fesco shares traded hands but the stock barely inched up 1.0 per cent to $1.08. It was followed by Sagicor Select Funds Financial with volumes of 2.6 million units trading down 1.6 per cent to $0.62, and Wigton Windfarm with 1.8 million units holding firm at $0.64.

The market is still 26 per cent higher than the lows of March 2020, when fears of the pandemic started a market sell-off.

The overall combined index lost 4,287.86 points or 1.0 per cent to close at 425,919.78. The JSE Index declined by 4,869.78 points (1.13 per cent) to close at 424,662.52. The Junior Market Index advanced by 20.53 points (0.63 per cent) to close at 3,264.46. The JSE USD Equities Index declined by 3.26 points (1.54 per cent) to close at 208.48. The JSE Financial Index declined by 1.85 points (1.70 per cent) to close at 106.69.

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