Archives for November 2013

FX: Trading up as J$ slips vs US$

Friday, 1st November 2013 | Friday’s trading in the foreign exchange market resulted in the equivalent of US$29,913,501 being purchased by dealers and $32,143,784 being sold.

Trading in US dollars saw more selling than buying with buying amounting to US$26,390.820 at an average rate of $104.64, up 32 cents and US$29,771,104 being sold at $105.14, up 9 cents for the day. C$1,500,625 was bought down 10 cents to end at $99.65 and C$910,603 was sold at $100.96 down by 14 cents. £1,176,225 was purchased resulting in a fall of $2.61 at $166.14 and £771.827 was sold at $169.13 down $2.45.

FX_TRADE+Currency+Nov1The highest buying rate for the US dollar was unchanged at $106.00, as well as the lowest which was unchanged at $85.34; the highest selling rate increased by 6 cents to $109.41 and the lowest remained $102.

The highest buying rate for the Canadian dollar was 25 cents up at $101.90 the lowest as unchanged at $80.01 while the highest selling was 69 cent down at $103.31 as the lowest moved up 15 cents to $96.55.

FX_TRADE+HighLow+Nov1The British Pound went down to $170.50 at the highest buying rate and was down 21 cents for the lowest buying rate at $135; selling was $2.71 lower at $171.59 for the highest selling rate and down 25 cents for the lowest at $162.65.

Image courtesy of Marcus/FreeDigitalPhotos.net

JSE: Market correction is over?

Friday, 1st November 2013 | The IC Bid-Offer Indicator at the end of trading for the week and the first trading day for November is the strongest it has been for weeks with bids for 10 stocks higher that their last selling prices and only 1 stock on offer lower than the last selling price — a bullish indicator.

It would require more than a day with similar positive readings to confirm a sustained uptick in stock prices. What is clearly being indicated is that supply of stocks at the lower price levels is low.

The Jamaica Stock Market closed the week on a positive note even as the junior market index fell in trading today. The main indices moved up at the end of the day as 11 stocks advanced to decline of 5. The JSE Index closed at 82,190.30 up 358.14. The all Jamaica Index closed at 80,307.25 up 630.16 and the junior market index closed down 6.29 to end at 726.30. In overall market activity 4.2 million shares changed hands for a value of $25.66 million.

JSEIndicesNov1Stocks with meaningful activity are Caribbean Cement 49,749 units as the price closed at $2.19 up 12 cents; Carreras had 13,000 units traded up 5 cents to $40; Hardware & Lumber 11,600 as the price closed up 20 cents at $4.70; Jamaica Money Market Brokers had 10,650 units as the price closed at $8.12; National Commercial Bank Jamaica 74,867units closing up $1.49 at $18.49; Pan Jamaican Investment 11,800 unit traded firm to close at $48.01; Sagicor Investments 440,715 units closed at $15.99 while gaining 33 cents; Scotia Group 376,900 shares resulted in the stock closing firm at $20; Scotia Investments 2,000 up $2.48 to $28.5 and Proven Investments  8% was the only stock to trade in the preference segment as it resulted in 332,660 units at $5.09. JPS 9.5% non-redeemable preference shares were listed at the start of trading but did not trade nor was there a bid or offer at the close.

Junior market | Trading picked up in the junior market with Blue Power Group exchanging 75,100 units mostly at the closing price of $9.28; Caribbean Cream put in 18,000 units at $1.02 up 2 cents; Caribbean Flavours 35,387 units at $2.55; Caribbean Producers 860,000 units traded mostly at the closing price of $2 up 5 cents at the close; Dolphin Cove had 199,252 units changing hands at $8.25 as the stock gained 25 cents; General Accident Insurance had 31,830 units being exchanged ending at $1.65, up 3 cents; KLE Group traded 44000 units and hit another new all-time low of $1.37, down 3 cents while under pressure; Lasco Financial Services chipped in with 104,899 units at $1 down 12 cents and Lasco Manufacturing garnered 1,502,008 units to close at $1.45, up 4 cents.

Coffee what you may not know

Coffee-fieldGrowing up in the country exposed me to home grown coffee, not sure at what age I started drinking the beverage but I recalled that coffee was on the menu for coffee break twice a day when I joined KPMG years ago. There is much to know about the brew. Then it was instant coffee that one was served. I recall buying some blue mountain instant coffee in the 1970s which tasted far superior to the regular instant. That was discontinued. My real first recollection with Blue Mountain coffee was when I visited a client one day in St James and drank coffee. I still recall the special taste. In the 1980s I got turned off instant coffee for good when I had a batch that tasted like chocolate. I switched to Blue Mountain with its far superior taste and I learnt a lot more about coffee over the years. One of the first things I found out is that I no longer get headaches if I skip the drink. I also learnt that drinking water after having coffee at night reduces the effect that the coffee has on sleep.
All brands not equal| I think I have over time developed a taste to identify the subtle taste of different brands as well as flaws in the product where these exits, Some of the coffee has a fruity taste, some have a taste that suggest that the fruit was not mature when reaped. I also discovered that not all blue mountain coffee taste alike. I tried a number of brands and have pretty much stuck with one although there is another that’s just as good and sometimes better tasting. The most popular Blue Mountain coffee is probably the least tasty. One of the most telling findings for me is that the amount of ground beans that is used vary from brand to brand and may vary depending on the time the berries were reaped as well as how they are roasted. I have also found that some coffee out of Columbia taste pretty close to our Blue Mountain coffee.
Preparation affects taste| Ground coffee may be more convenient to purchase. The problem is, it tends not to give a rich a brew as freshly ground beans. Worse, the factory ground coffee tends to utilise about 25 percent more to make a cup than the home grounded coffee. Why? That is a question I asked someone in the industry. Apparently, coffee ground for sale is done by industrial machines that produce a coarser grounded product than grinders for home use. The result is, less of the ingredients flow into the brew than is possible with finer grounded coffee.
Blue Mountain Coffee taste is distorted with too much condensed milk that is popularly used in Jamaica for cream and sweetener. A very limited amount of the condense milk can work without distorting the coffee taste too much. Sweetening with it is a no, no if one is to really enjoy and really get the wonderful taste od a cup of Blue mountain coffee the ways it should.
Coffee’s appeal and taste comes from the ability to smell it. This is why it is so important that the beans or grounded coffee must be kept in properly sealed containers and once opened to be kept in a fridge properly sealed, to maintain the quality.
Many think coffee is bad for us. Research has unearth many benefits of coffee.
Instant boost| The main benefit of coffee is its stimulating effect. Caffeine helps concentration for sustained periods and delays feelings of tiredness. The caffeine in it encourages your body to use up energy reserves and it has good effect on the digestive system as it increases saliva and digestive enzymes. Caffeine tightens blood vessels in the brain, which reduces the intensity and the duration of migraines.
A natural high| It makes the mind more alert and quickens your heartbeat, as well as mobilising fat reserves as a principle source of energy during exercise. This allows the body to economise on glycogen reserves in muscles and stops you getting tired.
Antioxidant action| Coffee and tea contains the highest number antioxidants which play a protective role against cellular ageing and mutations.
Many studies show that coffee drinkers are less likely to develop Parkinson disease than others. The protective effect is estimated at 30% for people who drink at least two coffees a day. Recent experiments have produced evidence of a neuroprotective mechanism in caffeine.
A study carried out on more than 7,800 American nurses revealed that women who drank four cups of coffee or more a day were 25% less likely to get gallstones. Other studies showed risk lowered by 45% in men.
So now you can change the way you look at coffee and enjoy a grew to the fullest.

TTSE: Almost no trades

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Friday, 1st November 2013 | Trading on the first day on November took place in 12 securities of which 5 advanced, 5 declined and 2 traded firm but the level of trading on the Trinidad Exchange was at a parlous level with only 54,118 units valued at $1,047,965 trading.

Clico Investment Fund advanced by 4 cents to end at $21.64 while trading 36,823 shares valued at $796,695.

So low was trading in the main market that Jamaica Money Market Brokers with a mere 10,000 shares was the volume leader for the day as the price slipped to 61 cents followed by First Citizens Bank with a volume of 3,093 valued at $108,874 as the price closed at $35.20, up 20 cents. National Enterprises contributed 1,330 shares with a value of $23,900 and closed at $17.97, while Republic Bank added 892 shares valued at $100,252 to close at $112.39.

TTSENov1Unilever Caribbean gained 42 cents to end the day at $56.01 with only 12 shares. Elsewhere price changes were one or two cents per stock.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed bids for 3 stocks being higher and 4 stocks with offers lower than their last selling price.