Trading was slow on the Jamaica Stock Exchange on Tuesday and ended with marginal change to the market indices.
The attached chart shows the bids and offers at the close of the market with the volumes of the lowest offers and highest bids. The chart provides investors with much more information than have been made available to the general public. Investors can get some indication of supply and demand posted in the market with the immediate volumes on the bid to buy or the amounts on offer, at the disclosed prices. What is shown represents only the stocks on offer to sell and the amounts being purchased at the prices shown. IC Insider will now be posting this chart daily.
Archives for February 2015
JSE closes with moderate change
February 24, 2015 by
5 stocks rose 5 declined on TTSE
February 24, 2015 by
NCB stock is in demand on TTSE supply limited
At the close of the market, the Composite Index lost 0.43 points to close at 1,148.51, the All T&T Index fell by 1.20 points to close at 1,979.11 and the Cross Listed Index increased by a mere 0.05 points to end at 41.63.
Gains| Stocks increasing in price at the close are, ANSA McAL put on 5 cents to end at $66.82, while 1,000 units were traded. Clico Investment Fund Traded 21,297 shares valued at $479,194 and gained 1 cent to close at $22.50, National Commercial Bank contributed 66,650 shares at $1.21, up by 2 cents. National Commercial Bank closed with 200,350 shares on the bid at $1.21 and stocks on offer at $1.35 to sell 20,000 units. National Flour gained 4 cents to end at $1.50, while trading 147,850 shares for a value of $221,775 and Scotiabank gained 1 cent, to end at $62.21 with just 100 shares.
Declines| The stocks declining at the end of trading are, Guardian Holdings trading 10,000 shares but lost 4 cents to end at $13.06, Jamaica Money Market Brokers trading 20,000 shares to close with a loss of 2 cents and finished at 43 cents. Massy Holdings trading 3,140 shares valued at $199,708, to close with a loss of 4 cents to a new 52 weeks’ low of $63.60, Republic Bank with 223 shares trading, closed lower by 9 cents at $118.40 and Trinidad Cement had 193,689 shares changing hands for a value of $449,831 and fell 20 cents to close at $2.30.Firm Trades| Stocks closing with prices unchanged at the end of trading are, Prestige Holdings traded 6,506 shares at $9.90, Sagicor Financial Corporation traded 10,000 shares at $5.25, Scotia Investments ended at $1.45 while trading 44,015 shares and West Indian Tobacco end at $125 for a value of $160,625 after 1,285 units were traded.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator shows 5 stocks with the bid higher than their last selling prices and 4 stocks with offers that were lower.
JSE market report at 12:05 Tuesday
February 24, 2015 by
Trading remained subdued in Trading on the JSE so far. the market Indices gained marginally except for a slight decline in the Junior market index. The all Jamaica is up 30.42 the JSE market index gained 27.20 and the Combined index is up 10.55 with the decline in junior market stocks negating the gains in the main market.
JSE market report at 9.47 Tuesday
February 24, 2015 by
Arawak $153m impairment hits TCL
February 24, 2015 by
An impairment charge on its investments in the Barbados’ Arawak Cement Company, hits Trinidad Cement with a $153 million charge.
The impairment was not the only hit to profits for the year, write down of deferred tax assets hit results with $86 million, plunging the group for the full year to December, into a loss of $211 million compared with profit of $67.3 million in the prior year. The company in its report to shareholders just released states, “as a result of deteriorating market conditions the Group has impaired its investment in Arawak”.
Excluding the impairment and tax asset adjustments, the group would have reported a loss of $19 million before taxation compared with a loss of $9.7 million in 2013 December quarter and a profit of $58 million before tax compare to $39 million in 2013 for the full year.
Group revenues reached $2.1 billion, an increase of $172.5 million or 9.0 percent compared to the year 2013. Management reported that “this improvement was driven by growth in the domestic cement markets in Trinidad and Jamaica, improved concrete sales volume of 14.6 percent, and by price increases which were implemented in Trinidad, Jamaica and Guyana. Additionally, in Jamaica, CCCL was able to supply 155.4k tonnes of clinker (36.6k tonnes in 2013) to Venezuela.”
“The Company has commenced negotiations with the lenders and at the date of approval of the financial statements by the Board of Directors of the Company, the TCL Group and the majority of the lenders had reached agreement in principle on features of the loan restructuring and its key terms. In addition the Board has embarked upon a comprehensive financial and operational review of the TCL Group, which is in progress, and an overall restructuring plan for the TCL Group which seeks to secure the long-term viability of the Company is being implemented. This Plan includes the completion of the loan restructuring with the lenders, settlement of all back-pay payments to employees in Trinidad and Tobago and the injection of equity capital from the shareholders. This overall restructuring is expected to be completed by the second quarter of 2015,” the management in their reported stated.
The company rights issue which is to be priced at TT$2.90 per share is to commence on March 5 for shareholders on record as of the March 3. The stock traded at $2.50 on Monday quite some way off the $2.90 rights price.
Buoyant foreign exchange flows – Monday
February 23, 2015 by
Inflows of foreign exchange into the system was buoyant on Monday with equal buying and selling of foreign currencies by dealers. Purchases of all currencies amounting to US$47,161,608 compared with the US$47,277,720, on Friday. Selling was for the equivalent of US$47,139,887 versus US$64,474,492 sold on Friday.
In US dollar trading, dealers bought US$42,803,483 compared to US$44,421,153 on Friday. The buying rate for the US dollar fell 20 cents to $115.08 and US$40,580,251 was sold versus US$62,378,941 on Friday, the selling rate dropped 1 cent to $115.59. The Canadian dollar buying rate slid $1.10 to $89.47 with dealers buying C$1,272,071, and selling C$5,738,923, at an average rate that rose 35 cents to $92.97. The rate for buying the British Pound climbed 78 cents to $176.02 for the purchase of £2,046,945, while £1,118,586 was sold, at an average rate of $177.74, up by 26 cents. At the end of trading it took J$131.42 to purchase the Euro, 35 cents less than on Friday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.09 for 19 cents lower than on Friday. 
Other currencies bought, amounted to the equivalent of US$238,295 while the equivalent of US$223,572, was sold.
Highs & Lows| The highest buying rate for the US dollar fell 10 cents to $115.80 and the lowest buying rate dropped $5.09 to $89.43. The highest selling rate remained at $121.12. The lowest selling rate rose 16 cents to $94.52. The highest buying rate for the Canadian dollar climbed 38 cents to $92.70, the lowest buying rate was up 44 cents to $73.56. The highest selling rate dipped 65 cents to $94.91 and the lowest selling rate rose 60 cents to $88.70. The highest buying rate for the British Pound, gained $1.64 to $179.40. The lowest buying rate fell 46 cents to $142.51, the highest selling rate jumped $1.82 to $183.72 and the lowest selling rate dipped $2.55 cents to $169.70.
NCB & Scotia push JSE up
February 23, 2015 by
In Monday’s trading, the main market of the Jamaica Stock Exchange climbed sharply, but only 12 securities traded in the market.
At the close bid prices were strongly in support of the market with some slight upward bias. The attached chart shows the bids and offers at the close of the market, with the volumes at the lowest offers and highest bids. The chart provides investors with much more information than has been shown to the public. Investors can get some indication of supply and demand posted in the market with the immediate volumes on the bid to buy or the amounts on offer, at the disclosed prices. What is shown represents only the stocks on offer to sell and the amounts being purchased at the prices shown. IC Insider will now be posting these daily.
In Tuesday’s trading watch Carreras that closed with a bid of $44.51, Grace Kennedy, bid $60 and National Commercial Bank bid of $22.
Market jumps 1,213 pts on low volume
February 23, 2015 by
Scotia Group closed higher at the close & helped to push market up on Monday
Main Market| The JSE Market Index gained 1,383.93 points to 79,880.82, the JSE All Jamaican Composite index rose 1,547.29 points to close at 88,028.76 and the JSE combined index gained 1,212.61 points to close at 81,799.28.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 8 stocks with bids higher than their last selling prices and 3 stocks with offers that were lower.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Jamaica Money Market Brokers ending trading 15,714 ordinary shares while gaining 3 cents to $6.93. National Commercial Bank closing with 10,450 shares to end with an increase of 98 cents to $22, Radio Jamaica closing with 66,000 shares, the price inched up 5 cents to $1.35 and Scotia Group finishing with only 2,750 shares to end with an increase of 65 cents at $21.
Firm| The stocks in the main market to close without a change in the last traded prices are, Cable & Wireless with 43,379 shares changing hands, closed at 48 cents. Carreras closing with 2,370 shares trading and ended at $44.50, Grace Kennedy closed with 6,750 units trading at $60, Jamaica Broilers had 45,000 shares changing hands at $4.02, Jamaica Producers ending with 1,798 shares trading at $17, Mayberry Investments finished with 1,800 shares changing hands to close $1.95, Proven Investments ending with 17,450 shares trading, to finish at 18.5 US cents and Sagicor Group finishing with 410,514 units trading at $10.25.Declines| The only stocks closing with a loss at the end of trading in the main market is, Sagicor Real Estate Fund closed with 18,070 shares trading lower by 10 cents to $6.70.
Preference| Jamaica Money Market Brokers 7.50% preference share traded 1,596,100 units at $2.
3 stocks gained on TTSE Monday
February 23, 2015 by
Trading on the Trinidad Stock Exchange closed with 10 securities changing hands of which 3 advanced, 4 declined and 3 traded firm with a total of 118,492 units, valued at $7,843,551.
At the close of the market, the Composite Index rose 0.07 points to close at 1,148.94, the All T&T Index fell by just 0.47 points to close at 1,980.31 and the Cross Listed Index increased by 0.08 points to end at 41.58.
Gains| Stocks increasing in price at the close are, Agostini’s with 1,650 shares trading, closed up a cent at $17.60, Jamaica Money Market Brokers added 7,426 shares to gain 1 cent to 45 cents and Prestige Holdings with a volume of 20,800 shares traded for $205,920 and gained 20 cents to a new 52 weeks’ high of $9.90.
Declines| The stocks declining at the end of trading are, Massy Holdings trading 108 shares and closed with a loss of 4 cents at $63.64. Republic Bank with 62,721 shares changing hands for a value of $7,431,803, closed with a loss of 10 cents at $118.49 and Trinidad Cement traded 5,000 shares valued to close with a loss of 5 cents at $2.50.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, Clico Investment Fund traded 2,400 shares and remained at $22.50, Grace Kennedy with 7,374 shares, to close at $3.61 followed by Guardian Holdings contributed 2,000 shares with the price closing unchanged at $13.10 and Sagicor Financial Corporation contributed 9,013 shares at $5.25.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 7 stocks with the bid higher than their last selling prices and 4 stocks with offers that were lower.
Trading picked up in junior market
February 23, 2015 by
Trading picked up on the Junior Market on Monday with 9 securities traded and ending with 424,216 units changing hands valued at $1,129,181. The JSE Junior Market Index declined 9.60 points to close at 715.66, with the prices of 4 stocks advancing and 2 declining.
At the close of the market, there were 2 stocks with bids higher than their last selling prices and 2 stocks with offers that were lower. The junior market ended with 6 securities closing with no bids to buy and there were 5 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, AMG Packaging ending trading with 21,230 units and gained 9 cents at $2.31, Dolphin Cove closed with 637 shares while gaining 19 cents to $8.99, Lasco Distributors concluding trading with 24,716 shares, the price jumped 4 cents to $1.50, Lasco Financial closing with 28,289 shares while gaining 10 cents to $1.20. Blue Power traded 100,000 shares but lost 20 cents to end at $6.30, Caribbean Producers with 54,804 shares trading lost 20 cents to end at $2.10, Honey Bun trading 10,000 shares as the price ended at $1.91, Lasco Manufacturing closed with 175,000 shares traded at $1.15, Paramount Trading ended with 9,540 shares trading at $4.
