Archives for January 2014

JSE: Stocks mostly up for 2nd day

January 3, 2014 by

Friday, 3rd January 2013 | Advancing stocks out distanced declining ones 8 to 3 making it the second straight trading day of the year that this ratio has been positive on the JSE, which is a continuation of the trend from mid-December. Trading resulted in 1,681,231 shares changing hands valued at $23,421,414, a better performance than yesterday with Hardware & Lumber hitting a new 52 weeks high of $8 as the price gained $1.90 on 5,000 units.

Market activity resulted in the JSE Market Index declining by 471.33 points to close at 80,531.48 and the JSE All Composite declining by 714.90 points to close at 81,695.23 as a result of pull back in the prices of National Commercial Bank, Grace Kennedy and Sagicor Group shares. The JSE Junior Market Index advanced by 8.12 points to close at 768.49.

Main Market| The main movers in trading in the main market are Caribbean Cement with 112,485 units to close unchanged at $3.50; Carreras gained $2 to close at $38 while trading 44,750 shares; Jamaica Broilers with traded 100,000 shares as the price moved up 8 cents to $4.61; National Commercial Bank had just 6,000 units changing hands as the price closed down 35 cents at $16.15; Sagicor Group shed $2.32 in trading 4,145 shares as the price dropped to $8.28; Sagicor Investments  gained 47 cents to end at $17 with $6,700 units, and Scotia Group exchanged 906,022 units as the price moved up during trading to $21.96 but closed unchanged at $20.

Jamaica Money Market Brokers 7.50% preference shares traded 205,438 unchanged at $2.

JSEIndicesJan3Junior Market| It was a subdued day for trading of junior market companies with Caribbean Cream trading 10,000 units to close firm at $1; Caribbean Producers swapped 70,852 shares at $2.70 with no change in the price; General Accident Insurance had a volume of 20,000 shares as the price rose 18 cents to $1.80; Lasco Manufacturing traded 131,751 shares and the price closed up 3 cents at $1.28 and Medical Disposables & Supplies swapped 30,000 shares to close firm at $2.15.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 6 stocks with bids that were higher than the last selling prices versus only 2 stocks with the offer lower than the last sale price.

Filed Under: JSE Main Market, Stock Market Tagged With: , ,

TTSE: Positive start to year

January 3, 2014 by

Friday, 3rd January 2013 | The Trinidad market continued the trend it started on the first trading day of the New Year with another positive performance with more stocks rising than declining. Trading occurred in 12 securities of which 6 advanced, 1 declined and 6 traded firm as the Composite Index advanced by 1.29 points to close at 1,186.51, the All T&T Index increased by 2.41 points to close at 1,996.47 and the Cross Listed Index gained 0.02 points to close at 49.45.

Trading activity on the market resulted in a volume of 190,370 shares changing hands valued at $3,672,861. Scotia Bank closed up 1 cent to close at $72.61 along with IC Insider Buy Rated First Citizens Bank closed at new 52 weeks high at the end of trading.

First Citizens Bank traded 13,402 shares for a value of $544,477 to close firm at $40.63 for a gain of 38 cents as the stock recorded yet another record price; National Flour Mills exchanged 39,946 shares for $37,969 to close at 95 cents; Neal & Massy Holdings added 6,980 shares valued at $418,816 and traded firm to end the day at $60.01; Republic Bank gained 6 cents to end the day at $115.96 with a mere 38 shares trading; Sagicor Financial Corporation added 31,631 shares valued at $90,423 with the price closing up 5 cents at $7.30; Trinidad Cement traded only 650 shares but the price moved up by 5 cents to close at $2.25.

TTSEJan3Clico Investment Fund traded with a volume of 113,551 shares valued at $2,554,898, the price advanced by 50 cents to end at $22.00.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with bids higher than the last selling prices versus only 1 stock with an offer that was lower.

Image courtesy of Photokanok/FreeDigitalPhotos.net.

Filed Under: Stock Market, TTSE Market Tagged With: , ,

FX: Fluid market 1st day of year

January 2, 2014 by

Thursday, 2nd January 2013 | Forex trading on the first trading day of 2014 saw the equivalent of US$22,004,093 being bought by dealers and US$25,258,390 sold.

Trading in the individual currencies saw US$18,632,067 being bought with the rate falling 25 cents to $105.46 and selling of US$22,604,821, the rate inched up a cent to $106.39. There was buying of C$1,416,816 with the rate declining by $1.07 to $97.92 and selling of C$716,902, the rate closed up a cent to $99.73. Buying of the British Pound resulted in £1,102,913 being acquired by dealers at $172.85, which was down by 72 cents. Sales amounted to £760,451 at a rate that was up by 8 cents to end at $175.92.

Trading in other currencies amounted to the equivalent of US$249,021 being bought and selling of US$724,021.

FX_TRADE+Currency+Jan2Highs & Lows | There were mix results in buying and selling at the highest and lowest rates as the US dollar was bought as high as $107.50, unchanged at the end of trading and as low as $86.42 for an increase of 41 cents but there was no change to the highest selling rate of $110.75 while the low was $2.04 down to $86.01.

The highest buying rate for the Canadian dollar went at $101.25, a 25 cents fall and the low was at $79.10, a decrease of 41 cents; the high for selling was $103.00, an increase of 50 cents but the low remained unchanged at $95.30.

FX_TRADE+HighLow+Jan2The British Pound went as high as $179.32 or $2.02 higher for the buying and declined $38.61 to hit $100.00 for the low and the high for selling came out at $178.28, down by 84 cents and the low increased by 90 cents to $169.00.

Filed Under: FX Market, Stock Market Tagged With: , ,

JSE: Light trading greets the new year

January 2, 2014 by
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Thursday, 2nd January 2014 | Trading on the first day of 2014 on the Jamaica Stock Exchange was very moderate but prices closed mostly higher with stocks of 17 companies be active of which 7 advanced and 3 declined as 494,825 units valued at $3,580,089 changed hands.

The price changes were reflected in the main indices of the market with the JSE Market Index advancing by 369.26 points to close at 81,002.81, the JSE All Jamaican Composite index gained 560.09 points to close at 82,410.13 and the JSE Junior Market Index increased by 2.51 points to close at 760.37.

Main Market | Carreras traded 59,217 units at $36 for a decline of 75 cents; Kingston Wharves traded 37,894 units to close firm at $6.06; Mayberry Investments had 44,335 shares changing hands at $2; National Commercial Bank dropped $1.50 to close at $16.50 with 5,251 units traded; Scotia Group exchanged 10,850 units and closed firm at $20; Seprod put on $2.50 to end at $13 while trading just 1,400 units.

Jamaica Money Market Brokers 7.50% preference share traded 250,000 units, firm at $2.00.

JSEIndicesJan2Junior Market | Access Financial Services reached a new all time high in trading 1,500 units to close at $12.20 up 20 cents; Caribbean Producers traded 50,940 units to close unchanged at $2.70; Lasco Manufacturing traded 16,390 units at $1.25 with a gain of 5 cents.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 8 stocks with bids higher than the last selling prices versus only 3 stocks with offers lower than the last sale price.

Filed Under: JSE Main Market, Stock Market Tagged With: , ,

TTSE: Positive start to year

January 2, 2014 by

Thursday, 2nd January 2014 | The Trinidad market started off the new year on a positive note with trading in 12 securities, 5 advanced, 1 declined and 6 traded firm. The Composite Index advanced by 0.17 points to close at 1,185.22, the All T&T Index moved up by 0.34 points to close at 1,994.06. The Cross Listed Index remained at 49.43.

Trading activity resulted in a volume of 749,040 shares changing hands valued at $7,340,815. Scotia Bank closed up 5 cents to close at $72.60 and One Caribbean Media closed up 4 cents at $18.54, both of which hit new 52 weeks high at the end of trading.

First Citizens Bank traded 20,566 shares to close firm at $40.25; Grace Kennedy contributed 130,000 shares with a value of $448,931, the price closed firm at $3.45; National Flour Mills exchanged 161,054 shares for $153,001; Republic Bank gained 6 cents to end the day at $115.90 with a mere 45 shares trading; Sagicor Financial Corporation added 31,631 shares valued at $229,325 with the price closing unchanged at $7.25; Trinidad Cement had 231,801 shares changing hands for a value of $509,962 but the price remained unchanged at $2.20; West Indian Tobacco traded 14,559 units to close 3 cents up at $120.03.

TTSEJan2On the Mutual Fund Market 145,538 shares changed hands for a value of $3,164,676.00. Clico Investment Fund traded with a volume of 143,538 shares valued at $3,157,856, the price advanced by a cent to end at $22.00. Praetorian Property Mutual Fund traded 2,000 shares, falling $0.14 to close at $3.41.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with bids higher than the last selling prices versus only 1 stock with an offer that was lower.

Filed Under: Stock Market, TTSE Market Tagged With: , ,

November worse month for revenues

January 2, 2014 by

November 2013 was the worse month for Government of Jamaica revenue collections for the current fiscal year which started in April, coming in at $25.94 billion. The next lowest was August at $26.36 billion and October at $26.5 billion. The November collections were $2 billion short of the estimate of $28.55 billion forecasted by the Ministry of Finance when it presented the budget earlier in the year.

The shortfall in August was the worse reported as it was down by $6 billion compared to forecast. The best month was May which exceeded forecast by a billion dollars, all other months were short of budget. The data is reflecting a troubling trend of a likely shortfall going forward.

The reduction in the fiscal deficit that was at $9 billion at the end of October has been sharply cut and now stands at only $5.1 billion as the deficit for November that was planned at $1.3 billion hit $5.4 billion instead. Expenditure planned at $29.8 billion for the month ended at $31.3 billion instead, as payments on wages and programmes, climbed above the budgeted figures by $3.6 billion, to compound the impact of the revenue shortfall. The fiscal deficit sits at $24.9 billion versus $30 billion originally projected to November. Total revenues, which are $233 billion is up by a strong 10.6 percent over the 2012 period of $211 billion but is down by roughly nearly 3.5 percentage points. The budget called for an 18 percent rise in revenues for the fiscal year over that of 2013 to reach $407 billion with revenues to have risen by 14 percent up to November.

Jamaica_coat_of_arms_280X150The number of areas with improved revenues paled in comparison to those that under-performed as tax revenues fell short of forecast by $10.4 billion, partially offset by increased grants of $1.1 billion and non-tax revenues of $1.37 billion. Corporation Taxes delivered $1.1 billion more than planned by 8 percent; others to have performed ahead of forecast are Special Consumption Taxes by 7 percent with a surplus of $550 million; Motor Vehicle licenses 12.6 percent with a surplus of $191 million; Telephone Call Tax, 6 percent better with $246 million; Accommodation Tax up by $400 million or a huge 55 percent improvement and Travel Tax with an increase of 57 percent or $2.3 billion.

The underperformers overwhelmed the good performances with PAYE dropping $2.45 billion; tax on dividend, individuals and on interest falling by $2.5 billion; betting gaming was down $842 million; education tax by $935 million; Contractor’s levy by $305 million; Stamp Duty by $700 million and taxes on imported items by $7.7 billion as imports fell during the period.

Related posts | Fiscal deficit improvement continues | Govt set to wipe out deficit

Filed Under: Economy Tagged With: ,