The Junior Market closed trading with 819,924 units valued at $903,898. The JSE Junior Market Index rose 2.67 points to close at 659.48, only 6 securities traded, 3 advanced and 3 declined.
At the close of the market, there were 2 stocks with bids higher than their last selling prices and 6 stocks with offers that were lower. The junior market continues to exhibit weakness with 10 securities closing with no bids to buy. There were 4 securities that had no stocks being offered for sale.
Junior market stocks trading are, Access Financial with 705 shares, lost 47 cents to end at $10.01, Caribbean Producers with 26,028 shares lost 15 cents to end at $2.20, Dolphin Cove had just 200 units changing hands at 50 cents up, at $8.50, Lasco Distributors traded 282,050 units, closed 5 cents higher at $1.25, Lasco Financial Services with 6,940 units, gained 6 cents and closed at 96 cents and Lasco Manufacturing had 504,001 units trading to close at 91 cents after losing 2 cents.
Archives for October 2014
3 junior market stocks rose & 3 fell
Republic trades big but Is Scotia bottoming?
Scotiabank traded nearly 30,000 shares on the Trinidad Stock Exchange on Tuesday, making it the fourth largest trade since 236,520 units were traded on May 22 at $70, just before the bank released its six months result, showing a sharp fall in profit for its second quarter. Prior to today’s trade, Scotia traded 200,069 units at $68.94, on July 9 and 40,719 shares on July 31, at $66.74 each.
The next closest volume, was a trade of 25,042 units at $60.80, on September 25. The amount traded today has been on offer from October 24 at $58. The big question, is the end of the decline from $70 which started in May, coming to an end? At the close there was a bid to buy only 100 units at $57.50 and a small offer to sell 317 units at $58. The PE ratio of the stock is just over 16 times this year’s earnings, and is close to Republic Banks PE, suggesting that the decline may not have long to run, but buying ahead of the October year end results, may be tempered while the release is pending. Regardless, Investors should be putting this one on their Watch List, now that the price has declined a fair amount.
The Market closed with 14 securities changing hands of which 2 advanced, 3 declined and 9 traded firm, with a total of only 261,908 units, valued at $15,296,503, with Republic accounted for $12 million of the trade, down from Mondays $15.7 million.
At the close of the market, the Composite Index lost 0.62 points to close at 1,146.56, the All T&T Index fell by 1.25 points to close at 1,962.15 and the Cross Listed Index remained unchanged at 43.38.
Gains| Trinidad Cement had 3,949 shares trading, gained 1 cent to end at $2.01 and West Indian Tobacco climbed 4 cents to end the day at $118.56 while trading only 50 shares. The company announced an increased final dividend for 2014 of $1.39, up from $1.07 last year.
Declines| The stocks declining at the end of trading are, Angostura Holdings that added 9,627 shares valued at $120,338 to end with a fall of 3 cents at $12.50, First Citizens Bank traded 6,519 shares to close with a loss of 5 cents at $36.75, Republic Bank with 100,076 shares changing hands for a value of $12,084,190, suffered a loss, of 35 cents to close at $120.75.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, Ansa McAL with 3,525 shares to close at $66.15, Clico Investment Fund with 29,360 shares valued at $648,856 to end at $22.10, Guardian Holdings contributed 5,812 shares at $13.50, Jamaica Money Market Brokers with 50,000 shares being closed at 45 cents, Massy Holdings traded 386 shares at $68.55, One Caribbean Media with 1,150 units, closed at $25.25, Praetorian Property Mutual Fund traded 20,000 units to remain at $3.40, Prestige Holdings closed at $9.55 after trading 1,906 shares and Scotiabank contributed 29,548 shares with a value of $1,713,784 to end at $58.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 3 stocks with the bid higher than their last selling prices and 2 stocks with offers that were lower.
Dividend likely for Eppley
The Board of Eppley Limited will meet on Thursday, November 13, to consider the payment of an interim dividend.
For the current year, Eppley paid an ordinary dividend of $9 per share on September 2. An ordinary interim dividend of $9 per share was paid on May 29 and $9 per share was also paid on February 28, this year.
Profit before tax, was up 67 percent for the six months to June this year, but only 21.5 percent in the June quarter, and after tax it was up 112 percent for the quarter, and 119 percent year to date, for a net profit of $29.6 million. There is no tax payable of the profit for the current year, as the company enjoys tax free status for 5 years, under the junior market listing incentive.
Proven to consider a dividend
The Board of Directors of Proven Investments will to consider dividend payments to both its ordinary and preference shareholders at a meeting on November 4.
A dividend of US$0.0022 per ordinary share was paid on December 3, last year. For 2014, the investment company, paid dividends of US$0.0020 per share to ordinary shareholders on June 24 and US$0.0015 per ordinary share, on March 13, this year.
The net profit for the quarter to June 2014, excluding a loss on extra ordinary activities and gain on purchase of subsidiary amounted to US$1.18 million, an increase of 14.3 percent, compared to the same period last year.
JMMB to consider a dividend
The Board of Directors of Jamaica Money Market Brokers will meet on November 7, to consider an interim dividend payment on the company`s ordinary shares.
The company paid a dividend of 17 cents per ordinary share on June 26, this year. A payment of 16 cents per share was made on December 18, last year.
JMMB Group posted net profit of $558 million and earnings per share of 34 cents for the quarter to June this year, 26 percent lower than the $754 million earned in 2013. The decline in the June quarter, contrast with a 5 percent increase in profit for the March 2014 quarter over the 2013 period.
D&G to up December’s dividend?
The payment of a dividend based on the financial year ended June, 2014, will be considered by Desnoes and Geddes at a meeting scheduled for Wednesday, October 29.
The company paid an interim dividend of 20 cents per share and a special dividend of 5 cents per share on December 20, last year.
They also paid interim dividend of 10 cents per share and a special dividend of 15 cents per share on May 16, this year. Profit after tax, for the 2014 fiscal year was $3.15 billion, but excluding the gain from the shares the company had in two breweries in the eastern Caribbean, it would have been $2.2 billion or an increase of 80 percent, instead of the 160 percent increase the net result shows. This means that shareholders can look forward to a healthy increase in the dividend to be declared.
$16M more US$ bought than sold on Monday
The Jamaican dollar underwent moderate changes in trading on Monday, as authorized dealers bought US$16 million more than was sold. They purchased the equivalent of US$59,284,131 versus US$35,558,566, on Friday and sold the equivalent of US$43,206,616, compared with US$33,852,780 on Friday.
In US dollar trading, dealers bought US$51,676,419 compared to US$29,263,800 on Friday. The buying rate for the US dollar gained 3 cents to $112.29 and US$38,092,548 was sold versus US$26,297,179 on Friday, the selling rate fell 1 cent to $112.67. The Canadian dollar buying rate, dived $1.06 to $98.87 with dealers buying C$5,612,540 and selling C$4,831,223, at an average selling rate that rose 11 cents, to $101.16. The rate for buying the British Pound fell back by 59 cents to $178.75, for the purchase of £1,581,380, while £418,877 was sold, at $180.93, down by 11 cents. Other currencies bought, amounted to the equivalent of US$148,806, while the equivalent of US$103,868, was sold.
Highs & Lows| The highest buying rate for the US dollar, declined 35 cents, to $112.85, the lowest buying and the highest selling rates were unchanged at $91.85 and $117.70 respectively and the lowest selling rate, dropped $1.81 to $91.85. The highest buying rate for the Canadian dollar rose 10 cents to $100.90, the lowest buying rate rose 12 cents to $79.51, the highest selling rate climbed 44 cents to $102.80. The lowest selling rate was up 15 cents to $95.80. The highest buying rate for the British Pound, jumped $6.50 to $188. The lowest buying rate rose 66 cents to $145.08, the highest selling rate climbed $3.28 to $188 and the lowest selling rate nosedived $22.62 to $151.38.
Lousy Monday trading on JSE
Monday’s activity on the Jamaica Stock Exchange, sank to a low level with only 526,642 units trading, valued at just $2,883,385, in all market segments. At the close the prices of 5 stocks rose and 9 declined as 21 securities changed hands.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had 4 stocks with bids higher than their last selling prices and 7 stocks with offers that were lower.
Main Market| The JSE Market Index fell 23.45 points to 71,642.45, the JSE All Jamaican Composite index declined 26.22 points to close at 78,817.51 and the JSE combined index dipped 65.01 points to close at 73,502.73.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Carreras with 17,100 shares trading, gained 10 cents to $34.60, Desnoes & Geddes rose 28 cents to $4.98 in trading 1,000 shares, Grace Kennedy exchanged 9,580 shares at $58, rising by 5 cents and Sagicor Group had 9,850 shares changing hands, 10 cents higher to $9.60.
Firm| The stocks in the main market to close without a change in the last traded prices are, Cable & Wireless with 11,500 units at 29 cents, Ciboney’s 211,200 shares traded to close at 7 cents, Jamaica Broilers 7,200 units at $4, Mayberry Investments with 12,550 shares closed at $1.40, Proven Investments with 16,950 shares ended at 18 US cents and Radio Jamaica had 2,040 units changing hands at $1.15.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Kingston Wharves with 1,230 ordinary shares traded 40 cents lower at $5.10, National Commercial Bank closed with 5,850 units trading after slipping 25 cents to $17.55, followed by Pan Jamaican with 2,000 shares, and closed down 80 cents at $49.20, Sagicor Real Estate Fund traded 3,000 shares, and closed with a loss 35 cents at $6.65 and Scotia Group had 35,184 shares changing hands and ended 10 cents lower at $19.40.
Preference| Jamaica Money Market Brokers 7.50% preference share traded 5,000 units at $2.
5 stocks traded in junior market 4 fell
The Junior Market closed with 175,408 units valued at $314,853 trading. The JSE Junior Market Index fell 4.59 points to close at 656.81, only 5 securities traded, 1 advanced and 4 declined.
At the close of the market, there were 3 stocks with bids higher than their last selling prices and 3 stocks with offers that were lower. The junior market continues to exhibit weakness with 10 securities closing with no bids to buy. There were 4 securities that had no stocks being offered for sale.
Stocks that traded on Monday in the junior market are, General Accident with 32,700 shares, the price rose 4 cents to end at $1.55, Lasco Financial Services with 7,600 units, closed at 90 cents, down 10 cents, Lasco Manufacturing had 24,447 units trading to close at 93 cents, after losing 2 cents, Medical Disposables with 75,500 shares, lost 4 cents to end at $1.92 and Paramount Trading had 35,161 units changing hands at $2.55, after dropping 15 cents.
Investors spend $15.7m on Republic’s shares
Trading on the Trinidad Stock Exchange on Monday, closed with Republic Bank accounting for $15.7 million worth of shares traded, but the stock price declined at the close. There were 14 securities changing hands on the first trading day of the week, 3 advanced in price, 5 declined and 6 traded firm, with a total of 665,955 units, valued at $19,599,985.
At the close of the market, the Composite Index declined by 0.47 points to close at 1,147.18, the All T&T Index fell 0.93 points to end at 1,963.40 and the Cross Listed Index remained unchanged at 43.38.
Gains| Stocks increasing in price at the close are, First Citizens Bank traded 1,665 shares and gained 4 cents to close at $36.80, One Caribbean Media increasing 13 cents to end the day at $25.25, in spite of a slight decline in earnings for the year to September of 3 percent to reach $57.8 million and 17.5 percent reduction in the September quarter to $18.4 million. Conversely, West Indian Tobacco gained 2 cents to land at $118.52, while 70 units traded. Profit before taxation for the nine months ended 30 September, climbed 13 percent to $436 million, over the corresponding period in 2013 and profit after tax for the nine months is $329 million, reflecting an increase of 16 percent over 2013. Profit after tax rose 9 percent in the September quarter over that of 2013 as revenues declined slightly.
Declines| The stocks declining at the end of trading are, Angostura Holdings with 2,210 shares, declined by 2 cents to close at $12.53, National Enterprises contributed 39,978 shares with a value of $699,615, closing down 4 cents at $17.50, a 52 weeks’ low, National Commercial Bank with 401,176 shares changing hands for a value of $401,152 to end down 2 cents to 98 cents, National Flour traded 3,000 shares to close with the loss of 4 cents to $1.10, Republic Bank with 130,000 shares traded for $15,743,000 lost 10 cents to end at $121.10
Firm Trades| Stocks closing with prices unchanged at the end of trading are, ANSA McAL added 18,349 shares valued at $1,213,786 and closed at $66.15, Clico Investment Fund with 60,618 shares valued at $1,340,545 to end at $22.11, Guardian Holdings traded 3,167 shares to close $13.50, Jamaica Money Market Brokers had 500 shares changing hands at 45 cents, Massy Holdings traded 22 shares to close at $68.55, Trinidad Cement with 3,200 shares ended at $2.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 3 stocks with the bid higher than their last selling prices and only 1 stock with the offer that is lower.
