Archives for October 2013

FX: Rates soften as buying more than sales

October 31, 2013 by IC Insider.com

Thursday, 31 October 2013 | Buying of foreign currency was more than the selling as the equivalent of $30,722,115 was purchased by dealers while they sold the equivalent of $29,837,235. Rates moderated across the board except for the British pound that saw a rise in the selling rate.

Trading in the US dollar resulted in $23,396,287 being bought at 11 cents less than on Wednesday at $104.32 and selling amounted to $21,077,037, which was at $105.05, down 2 cents. The Canadian dollar buying rate declined by 22 cents to $99.75 as C$1,743,312 was bought and selling took place at $101.10, down 79 cents with sales of C$1,335,440.

The British Pound fetched $168.74, which was off by 40 cents as there was purchasing for £3,360,100 while selling amounted to £4,403,449 at $171.59, up 99 cents.

Highs Lows | Unlike the spot rates, the highs and lows in trading was mixed with the rate US dollar slipping by 30 cents to $106.00 as the low went up 17 cents to $85.34. The high point for selling was a 21 cent increase to $109.35 and the low was at $102.00, up all of $16.83.

The Canadian dollar buying rate went as high as $101.65, a fall of 35 cents and the low was up by 8 cents to $80.01. The high for selling was at $104.00, a 50 cents increase and the low for selling was at $96.40, up 10 cents.

The Pound went as high as $171.25 when bought by dealers, a 25 cents climb and as low as $135.21, down by 74 cents. The high in selling was at $174.30, a fall of 97 cents and the low was at $162.90, up a big $26.95.

JSE: Indices most up but . . .

October 31, 2013 by IC Insider.com

Thursday, 31 October 2013 | Trading on the Jamaica Stock Exchange on Thursday remained subdued with stocks of 28 companies trading resulting in only 4 advancing and 12 declining with a total of 4,568,270 shares trading valued at $23,381,135. The main market indices were up as well as the US dollar index but the junior market fell.

Main Market | Trading in Carreras has been picking as investors await the dividend and profit announcement for the September quarter; the stock had 33,706 shares changing hands firm at $40, Grace Kennedy had 8,050 trading to close at $55 up $1.30 while Jamaica Broilers had 35,994 units firm at $4.50. Mayberry Investments exchanged 74,524 units at $2. National Commercial Bank traded just 32,350 units to close at $17 down $1.35 at the end. Pan Jamaican had 5,640 units traded at the end at $48.01; Proven Investments ordinary traded 198,376 units at 11.61 US cents down .0029 cents; Scotia Group 248,654 units traded to closed firm at $20.

In the preference section, Jamaica Money Market Brokers 7.50% traded 1,695,797 unchanged at $2 and the 8.75% traded 339,373 to close at $2.98, which was off by 2 cents and Proven Investments Limited 8% traded 461,875 units to close $5.09.

Juniors | The junior market has been showing more signs of weakness and the market closed the day in that same mode. In trading, Access Financial Services changed 437,251 units at $8.28; AMG Packaging dropped 50 cents in trading 10,000 units to close at $3.50 in the aftermath of the annual results showing 48 cents earnings versus 47 cents in 2012. Caribbean Cream had just 13,000 units as the price closed at $1 off by 2 cents. Caribbean Flavours 7,816 units resulted in a close of $2.55. Jamaican Teas sold 423,959 units at $3.80, off by 10 cents. Lasco Distributors 389,600 resulted in an ending price of $1.45. Lasco Financial Services 75,744 units resulted in the price falling 3 cents to $1.12 and Lasco Manufacturing exchanged 50,900 and closed at $1.41, down 4 cents.

IC bid-offer Indicator | At the end of trading, the bid-offer indicator showed bids for 6 stocks being higher and 6 stocks with offers lower than their last selling price.

Filed Under: JSE Main Market, Stock Market Tagged With: Daily Trading, JSE Company, Trading Activity

TTSE: Witco up $1, Citizens drops $2.50

October 31, 2013 by IC Insider.com

Thursday, 31st October 2013 | West Indian Tobacco Company price jumped $1.00 to end the day at $120 as only 124 units traded and First Citizens Bank dropped back by $2.50 to close at $35 trading 9,559 shares valued at $336,475.

Trading picked up somewhat on the Trinidad Stock Exchange with stocks of 15 companies trading compared to 12 on Wednesday. Trading activity resulted in 5 advancing, 2 declining and 8 traded firm as 80,041 shares changed hands valued at $1,615,517.

Jamaica Money Market Brokers had a volume of 14,483 shares traded for $8,979 to close firm at 62 cents; Neal & Massy Holdings contributed 11,000 shares with a value of $634,150 and gained 8 cents to close at $57.65. Point Lisas traded 8,900 units firm at $3.77; Sagicor Financial Corporation saw trading in 14,600 shares for a value of $105,850 and the price closed unchanged at $7.25; Ansa Merchant Bank traded just 10 shares but gained 80 cents to close at $38.60.

Clico Investment Fund had a volume of 15,002 shares valued at $323,993 trading as the price advanced by 10 cents to end at $21.60.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed bids for 2 stocks being higher and 2 stocks with offers lower than their last selling price.

Filed Under: Stock Market, TTSE Market Tagged With: Daily Trading, Trading Activity, TTSE

FX: Selling & buying matched

October 30, 2013 by IC Insider.com

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Wednesday, 30th October 2013 | On Wednesday, trading in the foreign exchange market resulted in the equivalent of US$25,072,635 being purchased by dealers and $25,644,245 being sold.

Trading in US dollars was virtually even with buying of US$19,459,826 at an average rate of $104.43, up 3 cents and US$19,349,509 being sold at $105.08, up 3 cents for the day. C$3,081,133 was bought up 83 cents to end at $99.97 and C$4,541,925 was sold at $101.89 down by 14 cents. £1,522,895 was bought resulting in an increase of $1.63 at $169.14 and £1,065,989 was sold at $169.83 up 76 cents.

The highest buying rate for the US dollar was $106.30 up 40 cents and the lowest was unchanged at $85.17; the highest selling rate fell by 21 cents to $109.14 and the lowest dropped by $16.83 to $85.17.

The highest rate for the Canadian dollar was 60 cents up at $102.00 the lowest as unchanged at $79.93 while the highest selling was 50 cents down at $103.50 as the lowest remained unchanged at $96.30.

The British Pound went up by 25 cents at $171.00 at the highest buying rate and was up 24 cents for the lowest buying rate at $135.95; selling was 33 cents higher at $175.27 for the highest selling rate and $27.55 down for the lowest at $136.95.

Filed Under: FX Market, Stock Market Tagged With: Daily Trading, FX Market, Trading Activity

JSE: Trading remains low

October 30, 2013 by IC Insider.com

Wednesday, 30th October 2013 | Trading remained low on the Jamaica Stock Exchange with 1,231,072 units changing hands valued at $8,642,067 with the number of stocks advancing at 8 versus those 4 that declined. The main market index shed 35.94 points to end at 81,639.52; the all Jamaica index closed at 79.338.15 down by 63.23; the junior market index ended at 742.56 off by less than a point.

Main Market | Carreras traded just 6,007 units and gained 96 cents to close at $40. Gleaner posted 18,150 units at $1.11; Grace Kennedy chipped in with 71,100 units to close down $1.20 at $53.70; Jamaica Broilers exchanged 27,425 units up 24 cents at $4.50; Jamaica Money Market Brokers traded 22,662 units to close at $8.12; Kingston Wharves had 27,000 units changing hands at $5.60 up two cents; Mayberry Investments had 78,641 units trading down 15 cents at $2; National Commercial Bank sapped 26,138 units in closing up 35 cents at $18.35; Sagicor Life 94,880 units traded firm at $8.10; Scotia Group Jamaica traded 26,090 units to close unchanged at $20.

Proven Investments 8% preference stock traded 292,600 units while closing firm at $5.09.

Junior Market | Trading in the junior market saw Blue Power trading 6,934 units to close firm at $9.28; Caribbean Flavours trading 7,882 units firm at $2.55; Caribbean Producers delivered 15,136 units to close unchanged at $1.99; Dolphin Cove traded 20,248 units at $8; Lasco Distributors traded 146,580 units to close up a cent at $1.46; Lasco Financial Services closed unchanged at $1.15 with 67,644 shares changing hands and Lasco Manufacturing put in60.600 units to close firm at $1.45.

IC bid-offer Indicator| At the end of trading, the bid-offer indicator is showing a market that is moving sideways for a while, with bids for 8 stocks being higher and 6 stocks with offers lower than their last selling price.

Filed Under: JSE Main Market, Stock Market Tagged With: Daily Trading, JSE Company, Trading Activity

TTSE: First Citizens up by $2.49

October 30, 2013 by IC Insider.com

Wednesday, 30th October 2013 | First Citizens Bank traded 15,556 shares valued at $551,915 increasing by $2.49 to end the day at $37.50 and had an offer at $37.49 cents at the end for 3.373 units. The price at these levels seems ahead of the market currently as demand really seems around the $35 level but supply is not great.

Trading on the Trinidad market was confined to 12 securities of which 3 advanced, 4 declined and 5 traded firm as investors picked up units 754,083 valued at $11,064,068.

Angostura Holdings fell 6 cents to close at $13.43 as 15,556 shares traded, Guardian Holdings suffered a 10 cents fall to close at $15.15 while trading 14,300 shares.

One Caribbean Media traded 504,000 shares for a value of $9,172,800 as it closed up 10 cents at $18.20; National Flour Mills had 121,000 shares traded for $114,950; Point Lisa Port development traded 5,650 units unchanged at $3.77; Republic Bank traded 1,135 units to close at $112.35 down 65 cents. Scotia Investments contributed 41,096 shares with a value of $80,127 as it traded down a cents at $1.95 and Trinidad Cement traded 10,000 units firm at $2.35.

Clico Investment Fund traded 30,321 shares valued at $651,829 and closed firm at $21.50.

IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator showed bids for 3 stocks being higher and 5 stocks with offers lower than their last selling price.

Filed Under: Stock Market, TTSE Market Tagged With: Daily Trading, Trading Activity, TTSE

FX: More selling than buying

October 29, 2013 by IC Insider.com

Tuesday, 29th October 2013 | Trading in the forex market resulted in the equivalent of US$26,900,375 being purchased by dealers and $29,404,180 being sold.

Trading in US dollars showed more selling than buying with US$23,073,680 being bought at an average rate of $104.45, up 7 cents and US$26,171,118 being sold at $105.05, up a cent on the day, C$1,142,152 was bought at 31 cents more to end at $99.14 and C$1,895,221 was sold at $102.03 up by $1.23. £1,510,755 was bought with the rate falling 83 cents at $167.51 and £744,001 was sold at $169.83 up 13 cents.

Highs & Lows | The highest buying rate for the US dollar was $105.90 down 40 cents and the lowest was unchanged at $85.17; the highest selling rate increased by 21 cents to $109.35 and the lowest jumped $16.83 to $102.00.

The highest rate for the Canadian dollar was 60 cents lower at $101.40; the lowest was unchanged at $79.93 while the highest selling was 50 cents up at $104.00 as the lowest remained unchanged at $96.30.

The British Pound went down by 25 cents at $170.75 for the highest buying rate and down 24 cents for the lowest buying rate at $135.71; selling was 33 cents lower at $174.94 for the highest selling rate and $27.55 more for the lowest at $163.50.

Filed Under: FX Market, Stock Market Tagged With: Daily Trading, FX Market, Trading Activity

JSE: Low participation

October 29, 2013 by IC Insider.com

Tuesday, 29th October 2013 | The main indices show the Jamaica Stock Market falling sharply but there was a big improvement in the number of stocks advancing versus those that declined, from 5 and 15 on Monday to 4 advancing and 7 declining on Tuesday.

Unlike Monday, when the main indices climbed, the main market index was down 987.61 to 81,675.46 and the all Jamaica index closed at 79.401.38 down by 1,737.69, the junior market index also reflecting low investors’ interest sat at 743.05, a decline of 9.98. The amount invested in the market dropped to a low of just $10.8 million while trading only 2.7 million shares.

Main Market | The level of trading was low in both the junior and main markets with only the preference share segment showing any serious volumes as Berger Paints saw trading in 10,000 units to close at $2.16; Desnoes & Geddes had 38,690 shares changing hands as it traded firm at $4.50; Gleaner had trading in 54,350 units at $1.11; Jamaica Broilers 16,522 units traded up 4 cents to close at $4.26. Jamaica Money Market Brokers traded 18,600 units at $8.1;, Kingston Wharves 17,226 units traded at $5.58; Mayberry Investments traded 89,821 at $2.15; Sagicor Life had just 9,000 units trading at $8.10; Scotia Group exchanged 28,864 units to close at $20 for a 10 cents gain while Scotia Investments saw just 11,800 unis going for $26.01 and Supreme Ventures 122,000 units went for $2.55.

In the preference segment, Jamaica Money Market Brokers 8.75% traded 134,500 units firm at $3 followed by Proven Investments 8%, 1,308,314 units, down a cent at $5.08.

Junior Market | Trading in the juniors was low as Access Financial Services put in a nice little volume of 55,000 units at $8.29, down by 11 cents; Blue Power Group lost some altitude, by 22 cents in trading 9,753 units to close at $9.28 while newly listed Caribbean Flavours figured with 9,860, as it closed down 10 cents at $2.55. Lasco Distributors put in a good volume of 700,703 units to close at $1.45 being down by 4 cents and Lasco Manufacturing 68,300 units cost $1.45 each at the end of trading.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator is showing a market that is moving sideways for a while, with bids for 5 stocks being higher and 4 stocks with offers lower than their last selling price.

Filed Under: JSE Main Market, Stock Market Tagged With: Daily Trading, JSE Company, Trading Activity

TTSE: Trading picked up

October 29, 2013 by IC Insider.com

Tuesday, 29th October 2013 | Trading picked up on the Trinidad & Tobago Stock Exchange with 371,463 shares crossing the floor valued at $6,180,176 as 14 securities changed hands of which 4 advanced, 3 declined and 7 traded firm.

One Caribbean Media traded 200,000 shares valued at $3,639,650 but the price fell 10 cents to $18.20; Trinidad Cement gained 15 cents while closing at $2.35 with a volume of 43,076 shares traded for $101,227; Jamaica Money Market Brokers contributed 33,000 shares with a value of $20,610; First Caribbean International Bank traded 8,290 units firm at $6.75; First Citizens Bank traded 16,926 units firm at $35.00, while National Commercial Bank added 18,839 shares valued at $20,911.29. Neal $ Massy gained 3 cents $57.55; Republic Bank gained 68 cents to end the day at $113 while trading just 4,926 shares; Scotia Investments traded 9,904 firm at $1.95; Scotiabank traded 6,741 up a cent at $71.51

Clico Investment Fund traded 24,740 shares valued at $531,910 with the price remaining a $21.50.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed bids for 5 stocks being higher and 3 stocks with offers lower than their last selling price.

Image courtesy of Photokanok/FreeDigitalPhotos.net.

Filed Under: Stock Market, TTSE Market Tagged With: Daily Trading, Trading Activity, TTSE

Dividends consideration

October 29, 2013 by IC Insider.com

The Board of Directors of Jamaica Money Market Brokers will consider an ordinary dividend payment at a meeting to be held on Monday, November 11, 2013. The last dividend paid was 10 cents per share on March 28, 2013. Last year December, a dividend of 13 cents per ordinary share was paid.

JMMB is an IC Insider Buy Rated Stock.

The Board of Directors of Desnoes & Geddes on Friday, November 1, 2013 will consider the payment of a first interim dividend for the year 2013/14. The company paid dividend relating to the 2013 fiscal year of 10 cents per share on June 25, 2013. In December last year there was an interim payment 20 cents per share.

The Board of Directors of Carreras will consider a dividend declaration at a meeting to be held on November 6, 2013. Carreras paid a dividend of $1 per share in August, down from $1.50 in 2012 flowing form a decline in profit in the June quarter.