Archives for January 2014

TTSE PE: Neal & Massy makes strides

January 24, 2014 by IC Insider.com

Friday, 24th January 2014 | Neal & Massy was the major mover in the Trinidad Stock market this past week as the price closed at $65.02 gaining $2.

The other stock that shared some of the spot light was First Citizens. The stock lost some ground during the week as some profit taking occurred due to appreciated so much since listing in August 2013.

Guardian Holdings inched up back to $14. One Caribbean Media closed the week up at $18.77 for a small gain. Angostura Holdings slipped a bit and so did Point Lisas.

The T&T market still provides attractive buys for investors as prices have hardly moved over the last few months for most of the stocks.

The Top Stocks with potential by PE Ratio range from Citizens Bank at the low end at 33% to Trinidad Cement at the upper end with 283%. Berger (206%), Guardian Holdings (202%), National Flour (175%) and Point Lisa (132%) round out the top five stocks with the highest potentials for price gains.

Image courtesy of Jeroen Van Oostrom/ FreeDigitalPhotos.net

Filed Under: Company News, Stock Market, TTSE Market Tagged With: PE Ratios, TTSE

GSE continues up

January 24, 2014 by IC Insider.com

Friday, 24th January 2014 | The Ghana stock market continues on its merry way upwards during the past week with the GSE Composite index climbing to close the week at 2218.23 up from 2,186.94 at the end of the prior week. The financial index closed at 1,891.66 up from 1,847.22 from Friday January 10th.

There were 6 stocks trading that recorded gains to 5 that fell in the past week compared with 6 gaining (updated) and 7 falling in price from the week ending January 10. The market traded only 1,960,344 shares down from 4,785,965 shares during the previous week. At the end of the week, there were 18 bids on stocks in the market, up from 16 the week before but offers increased to 20 from 17.

Advancing stocks | At the end of the week Cal Bank gained 2 percent; Ecobank Transnational Incorporation gained 6 percent; Enterprise Group gained 4 percent; Standard Chartered Bank Ghana gained 4 percent.

Declining stocks | Trust Bank lost 14 percent and PZ Cussons lost 10 percent.

Filed Under: Global Market, Stock Market Tagged With: Ghana, Ghana Stock Exchange, Trading Activity

Buy Rated stocks coming in

January 24, 2014 by IC Insider.com

Friday, 24th January 2014 | There has been no change to the Buy Rated or Market Watch list since our last update on Friday, 20th December, even as prices of some stocks have increased sine the start of the new year.

This week, IC Insider makes special note of the continued success of Caribbean Cement, which closed the week at $4.60, up 71 percent since our selection in November and Neal & Massy, up by 10 percent since selection in July. Republic Bank continues to inch upwards and had some gains during the week and so did One Caribbean Media.

Companies have started releasing results for the final quarter of 2013 and it will be interesting to see how these results impact on the prices of our Buy Rated selections. NCB released their results on Thursday and profit was back on line with the pre-NDX hit in 2013. The company announced an increased dividend payment compared to the first one made in 2013.

Related post | Access moved to Market Watch

Filed Under: Company News, JSE Main Market, Stock Market, TTSE Market Tagged With: JSE Company, TTSE

JSE: Market closes week down

January 24, 2014 by IC Insider.com

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Friday, 24th January 2014 | There were 25 securities trading on the last day of the week on the Jamaica Stock Exchange with 8 up in price and 9 down, as 13,543,591 shares changed hands for $79,640,836.

The JSE Market Index fell 134.62 points to 79,636.63, the JSE All Jamaican Composite declined by 204.21 points to close at 81,209.11 and the JSE Junior Market Index advanced by 4.50 points, closing at 779.81.

Caribbean Cement and Knutsford Express traded at new 52 weeks high and Carreras which was the dominant stock in terms of value closed at a 52 weeks low.

Main Market | Trading in the main market took included Cable and Wireless with 2,340,973 shares as the price closed up at 20 cents; Caribbean Cement’s price closed at a new 52 weeks high of $4.60 as 7,200 units changed hands as the price gained 58 cents in the process; Carreras with 1,145,574 shares closing down 50 cents at $34; Jamaica Broilers Group 164,181 units to close at $4.74; Jamaica Money Market Brokers 11,880 shares to close up 39 cents at $7.50; Mayberry Investments lost ground by falling 19 cents, closing at $1.81 with 14,467 shares; National Commercial Bank had little reaction to the quarterly results released on Thursday but 50,500 shares were swapped unchanged at $18 at the close; Scotia Group with 175,418 shares closing firm at $20.50; Seprod lost 20 cents with 729,735 units to close at $10.60 and Supreme Ventures with a big volume of 5,213,039 shed 10 cents to end at $2.30.

Jamaica Money Market Brokers 8.75% preference share traded 804,120 unchanged at $3.

Junior Market | Junior market trading was spread out with Caribbean Cream having 1,405,820 shares to close at 93 cents; Caribbean Flavours 29,321 units to close at $2.50; Derrimon Trading 45,000 shares, closing at $2.35; Knutsford Express traded for the first time with 1,690 shares to close at $5.12, one cent up on the IPO price; Lasco Distributors 154,941 shares at $1.45; Lasco Financial Services 100,003 units at $1.38; Lasco Manufacturing 24,450 shares at $1.26 and Medical Disposables 52,480 units at $2.10.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had only 8 stocks with bids higher than the last selling prices and 4 stocks with offers that were lower.

Importantly, Proven Investments US dollar based ordinary shares closed with a bid of 15 cents compared with a last sale of 13.3 US cents.

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

Carib Cream making headways but…

January 24, 2014 by IC Insider.com

Caribbean Cream, the ice cream maker, is making headways as profits made big jump with an increase of 5,000 percent to reach $11 million in November 2013 quarter, up from only $222,000 after tax in the 2012 November quarter. Profit before tax was $3.9 million in the 2012 but as a recent Junior Stock market listing, the company is not subject to corporate tax in 2013.

The revenue improved 14 percent from $165.5 million to $188.8 million for the November quarter. However, sharp rises in electricity, depreciation, audit and accounting, security and other administrative and interest cost robbed Caribbean Cream of a better bottom line. Nevertheless, the company saw a 186 percent increase in profit before tax for the quarter, and for the 9 months, profit is up 45 percent to $28.7 million compared with $19.8 million in 2012.

Administrative cost rose sharply by 50 percent for the nine months to $80.86 million up from $54 million in 2012. This is of concern as it has risen too fast and has partially eroded the improvement generated in the revenue growth.

The company was able to squeeze more gross profit out of the operations this past year with a margin of 37 percent for the quarter, surging over the 24.7 percent of 2012 and 29.6 percent year-to-date compared to 26 percent for the same period in 2012. The latest quarter revenues reflected the lowest growth rate for the year-to-date with the February and April quarters climbing by 48 percent each and 27 percent for the July quarter.

Impressive as the growth in profit is, earnings per share was only 8 cents for the nine months, which is inadequate to drive interest in the stock even with management’s promise of continued expansion in retail outlets and growth in sales as well as the reduction in production cost due to the installation of new machinery.

Our estimate for earnings for the current fiscal year is 15 cents, and for the next year 50 cents. There is quite some room for the stock to appreciate during this year barring some bad quarterly results.

Filed Under: Company News, Company Results Tagged With: JSE Company

TTSE: 2 new highs but indices slip

January 24, 2014 by IC Insider.com

Friday, 24th January 2014 | One Caribbean Media and National Enterprises closed at new 52 weeks high on the Trinidad Stock Market on Friday. Trading was in 10 securities of which 2 advanced, 2 declined and 6 traded firm with a volume of 280,886 shares changing hands valued at $3,718,271.

The Composite Index eased down by 0.69 points to 1,196.37, the All T&T Index inched down by 1.38 points to close at 2,021.48 and the Cross Listed Index was unmoved points to end at 48.81.

Gainers | National Enterprises closed at $18.25 with a volume of 25,000 shares valued at $456,250, as the stock gained 25 cents; One Caribbean Media traded 8,000 shares to close at $18.77 for a gain of 20 cents.

Decliners | First Citizens Bank fell 7 cents to close at $42.42 as only 439 shares valued traded; Angostura Holdings traded 101,502 shares for a value of $1,166,793 and lost 32 cents as the price ended at $11.48.

Firm Stocks| Agostini’s traded 10,388 units at $17.79 for a value of $184.803; Clico Investment Fund traded 71652 shares valued at $1,622,421 to end at $22.50; Jamaica Money Market Brokers traded 21,000 shares at 49 cents for a value of $10,290; Point Lisas Port Development traded 8,000 units at $3.45; Trinidad Cement exchanged 34,805 shares for $80,051 at $2.30.

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 and 3 stocks with offers that were lower.

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

Major cost input for production in 2013

January 24, 2014 by IC Insider.com

The Producer Price Index (PPI) is up nearly 1 percent in November and for the 12 months to November there was an increase in the index for the Mining Quarrying industry of 13.4 per cent and the Manufacturing industry of 8.5 per cent based on the point-to-point movement.

Statistical Institute of Jamaica (STATIN), who compiles the data stated that “for the Mining & Quarrying industry PPI for November, increased by 0.9 per cent”, mainly due the continued depreciation of the Jamaican dollar during the period. “The producer prices for the Manufacturing industry increased by 0.8 per cent. This increase in the index for the Manufacturing industry, was mainly impacted by the upward movement in the index for the major groups; ‘Food, Beverages & Tobacco’ and ‘Other Non-Metallic Products’ of 0.9 per cent, and 3.2 per cent respectively”.

Image courtesy of wandee007/FreeDigitalPhotos.net

The point-to-point movement to November in the Manufacturing industry mainly resulted from increases of the following major groups: ‘Food, Beverages & Tobacco’, 7.5 per cent, ‘Refined Petroleum Products’ 12.0 per cent and ‘Other Non-Metallic Mineral Products’ 20.9 per cent.

The period April 2013 to November 2013, the Mining & Quarrying industry reflected an upward movement in its index of 8.1 per cent and the Manufacturing industry’s index rose by 3.5 per cent.

Related post | November worse month for revenues

Image courtesy of koko-tewan/FreeDigitalPhotos.net

Filed Under: Economy Tagged With: Economy, PPI, Statin

October remittances up

January 24, 2014 by IC Insider.com

Net remittances into Jamaica grew by 7.8 percent for October last year to US$152 million, an increase of US$11 million over the same month of 2012 while gross inflows grew by 4.5 per cent or US$7.4 million to US$171 million. Remittance outflows actually declined for the period.

The rise in total remittance inflows reflected an increase of US$8 million in inflows through Remittance Companies and a decrease of US$0.5 million in inflows of Other Remittances.

Net remittances for January to October 2013 were US$1.5 billion, a growth of US$34 million or 2.3 per cent over 2012. The outturn for the review period reflects an increase in gross remittance inflows and a contraction in outflows.

For the review period, total remittance inflows were US$1.7 billion, an increase of US$14 million or 0.8 per cent. The increase in total remittance inflows reflected an increase of US$13 million in inflows through Other Remittances and an increase of US$0.7 million in inflows via Remittances Companies.

Related posts | Remittances inch up | BOP improvement for Q3 confirmed

Filed Under: Economy, FX Market, Stock Market Tagged With: BOJ, Economy, FX Market, Remittances

FX: BOJ intervention revalues J$

January 23, 2014 by IC Insider.com

Thursday, 23th January 2014 | The selling rate for the US dollar remains above J$107 but the selling rate inched down a bit on Thursday while the Canadian dollar and the British Pound suffered declines on both the buying and selling rates against the Jamaican dollar.

Authorised dealers bought a total US$59,269,945 of all currencies and sold the equivalent of US$61,911,209. Our source indicates that the Bank of Jamaica intervened in the market by selling approximately US$10 million to dealers.

Authorised dealers bought US$56,481,104 in United States currency at $106.92 for an increase of 4 cents and sold US$59,940,115 as the average rate inched down a cent to $107.19. Dealers bought C$930,397, the rate fell by 50 cents to $95.25 and C$626,264 was sold with the rate falling 71 cents to $97.09. The British Pound was bought at an average rate of $174.71, a fall of $1.25 as £1,029,444 was purchased, and only £607,375 was sold for a decline of 40 cents at $177.61.

Other currencies bought amounted to US$277,711 with US$397,459 sold.

Highs & Lows | The highest buying rate for the US dollar fell by 55 cents to end at $107.80, the lowest buying rate was unchanged at $87.26. The highest selling rate closed at $110.25 for a 69 cents decrease and the low moved was up to $97.33 by $10.07

The highest buying rate for the Canadian dollar fell $1 to end at $97.20 and the lowest buying rate ended 54 cents more at $78.44. The highest selling rate was unchanged at $100 and the low was up by 15 cents to $94.

The highest buying rate for the British Pound eased by 90 cents to $178.70; the lowest buying rate fell $1.71 to $143.30. The highest selling rate of $181.47, up 92 cents, the lowest selling rate of moved up by $1.75 to $172.65.

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

JSE: Market hit by declining stocks

January 23, 2014 by IC Insider.com

Thursday, 23th January 2014 | The Jamaica stock market recorded a negative day with 11 stock declining to 5 advancing on a day with 3,443,891 shares changing hands with a value of $18,691,167.

The negative performance was reflected in the market indices with the JSE Market Index declining by 402.47 points to close at 79,771.25, the JSE All Jamaica Composite fell 610.49 points to 81,413.32 and the JSE Junior Market Index dipped by 10.72 points to 775.31.

Main Market | The main trades included Berger Paints with 445,725 shares to close at unchanged at $1.80; Caribbean Cement 108,345 shares to close at a new 52 weeks high of $4.02 after trading as high as $4.50 during the day; Carreras 14,019 shares as the price fell $2 to $34.50; Desnoes & Geddes 45,909 shares closing firm at $5; Grace Kennedy 123,716 units down $1 at $55; Hardware & Lumber 17,500 shares as the price eased by $1 to $8; Mayberry Investments 1,223,442 shares at $2; National Commercial Bank 133,900 shares at $18; Sagicor Group 11,117 shares as the price closing at $8.45, off by 4 cents; Scotia Group 66,879 units to close at $20.65, a fall of 35 cents; Seprod was down 20 cents to $10.80 with 107,484 units; Supreme Ventures 78,102 units closing at $2.40 as the price eased by 10 cents.

In the preference share section, Jamaica Money Market Brokers 8.75% traded 350,500 at $3.01.

Junior Market | The major traded securities include Consolidated Bakeries 100,000 shares falling by 2 cents to $1.17; Lasco Distributors 14,199 units at $1.45; Lasco Financial Services 435,725 up a cent to close at $1.36; Lasco Manufacturing lost 8 cents with 130,998 shares to close at $1.30 and Medical Disposables 11,000 shares at $2.20.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had only 4 stocks with bids higher than the last selling prices and 5 stocks with offers that were lower.