The last trade of Supreme Ventures took place on Friday April 10 at 12:56:23, less than five minutes before trading closed. The official trading data showed the trade as valid but the 1,435 shares that were involved took place at $2.31 with a value of just $3,314.85, but the fall was outside of the price movement restriction of 15 percent from the opening price placed on stocks.
The trade was not valid and was cancelled sometime after trading closed, but not before the stock exchange reported the results for the public. The shares were sold by Sagicor Investments with the buying broker being Victoria Mutual Wealth Management traded on behalf of clients.
The stock exchange rules will permit daily price movements of 30 percent but there would be initial freeze of one hour if the attempted price exceeds 15 percent from the opening price. For further trading in the stock to be effected would have required an hour to elapse before the trade could take place.in the case of the above trade, there would be no time left in trading for the stock to resume trading. As a result of the cancellation of the trade, the closing price for Supreme Ventures officially ended at a 52 weeks’ high of $2.95.
The changes meant that JSE index ended at 85,647.64 instead of the 85,620.15 originally reported, The all Jamaica composite was reported at 94,445.60, is in fact 94,476.33 and the combined index reported as closing at 87,355.58 in fact ended at 87,381.44. The volume traded is marginally adjusted down to 9,744,758 units and the value $155,258,896 and resulted in the prices of 6 stocks rising 8 declining and 7 trading firm.
The market was closing at the highest level for 2015 and the highest level since mid-May 2012, based on the all Jamaica Composite Index which is up 12 percent since the end of 2014. The local market seems heading towards the next major resistance level around 99,000 point which is less than 5,000 points away. Breaking the resistance level is important but it is the ability to take out the resistance level and move further up wards that more important if the rally is to be sustained.
Archives for April 2015
Cancelled SVL trade changes closing data
US$ back above J$115 Friday
The Jamaican dollar lost value against the US dollar on Friday, but made major gains on the Canadian dollar and the British pound as US dollar strengthening, push down the value of the two international currencies. Purchases of all currencies by dealers amounted to US$34,310,557 equivalent, compared with US$26,379,747, on Thursday and selling of the equivalent of US$39,722,654 versus sale of US$36,916,377, on the previous trading day.
In US dollar trading, dealers bought US$31,736,664 compared to US$23,763,336 on Thursday. The buying rate for the US dollar climbed 19 cents to $114.45 and US$38,071,864 was sold versus US$35,159,008 on Thursday, the selling rate rose 7 cents to end at $115.06.
The Canadian dollar buying rate dropped 81 cents to $89.07 with dealers buying C$911,732, and selling C$567,274, at an average rate that fell 45 cents to $91.28. The rate for buying the British Pound fell 79 cents to $167.08 for the purchase of £1,161,197, while £654,078 was sold, at an average rate of $168.49, for a $1.05 decline. At the end of trading it took J$122.78 to purchase the Euro, $1.28 less than on Thursday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$120.17 for a fall of $1.43 on Thursday’s rate. Other currencies bought, amounted to the equivalent of US$169,181 while the equivalent of US$242,967, was sold.
Highs & Lows| The highest buying rate for the US dollar, rose 9 cents to $115.19. The lowest buying rate jumped $7.69 to $93.69. The highest selling rate declined 11 cents to $120.05 and lowest selling rate dropped $12 to $90. 
The highest buying rate for the Canadian dollar rose 50 cents to $92.50, the lowest buying rate fell 42 cents to $72.21, but the highest selling rate fell 40 cents to $94 with the lowest selling rate falling $2 to $87. The highest buying rate for the British Pound, fell $1.40 to $169.80, the lowest buying rate was down $1.74 to $135.21 but the highest selling rate rose $1.68 to $175 and the lowest selling rate fell $3.40 to $162.90.
Juniors still cannot pull out traders
Activity on the Junior Market closed with 3 securities traded ending with 152,220 units changing hands valued at $179,347. The JSE Junior Market Index declined 0.09 points to close at 732.58, with the price of no stock advancing and 2 declining.
While there is only a limited amount of securities that have traded, what is of import is the increased number of stocks closing with higher bids than the last selling prices, coupled with the lack of volume for nearly half of the listings, a pretty clear indicator for rising prices ahead.
At the close of the market, there were 8 stocks with bids higher than their last selling prices and 1 with the offer lower. The junior market ended with 5 securities closing with no bids to buy and 11 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, Access Financial Services trading 900 shares at $13.22, Jamaican Teas lost 2 cents in closing at $2.53 with only 1,720 shares changing hands and Lasco Financial Services trading 150,000 shares in closing at $1.09.
Jamaica Producers trades 5m shares
JPG traded 5 million shares but the price dropped $1.50
Main Market| At the close the JSE Market Index gained 717.53 points to 85,620.15, the JSE All Jamaican Composite index rose index 802.23 points to close at 94,445.60 and the JSE combined index gained 674.14 points to close at 87,355.58.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 13 stocks with bids higher than their last selling prices and 3 with offers that were lower.Jamaica Producers traded 5,003,044 shares and lost $1.50 to end at $17 with 5 million units being bought by Stocks and Securities on behalf of clients, the selling broker was Proven Investments. Sagicor Group traded 2,288,352 shares, between $10.45 and $10.50 but closed at $10.50 for a small gain, National Commercial Bank had 1,167,359 units changing hands to close at $25.50. Carreras traded 101,583 units at $43 and suffered a lost $1.05, Scotia Group traded 244,951 shares, between $22 and $22.50 before settling at $22.05 for a loss of 45 cents and
Proven Investments finished with 201,102 shares at 18 US cents.
Desnoes & Geddes traded just 1,700 shares to close at a 52 weeks’ high of $5.55 by posting a 5 cents gain. Grace Kennedy traded 3,850 shares at $65 for new 52 weeks’ highs and Supreme Ventures with 20,435 traded as high as $2.95, a new intraday 52 weeks’ high but ended down, at the close at $2.31 after shedding 49 cents from Thursday’s last price and Barita Investments suffered a fall of 27 cents to $1.95 for a new 52 weeks low. Proven 8% preference share traded 13,260 units to close at $5.05 after dropping 45 cents.
Trading closes week light – TTSE
Trading on the Trinidad Stock Exchange ended the week with 8 securities changing hands of which 4 advanced, 2 declined and 2 traded firm with a total of 236,267 units, valued at $8,270,548.
At the close of the market, the Composite Index rose 0.19 points to close at 1,151.99, the All T&T Index rose 0.37 points to close at 1,967.26 and the Cross Listed Index remained at 44.15.
Gains| Stocks increasing in price at the close are, Massy Holdings with 75,040 shares changing hands, for a value of $4,732,022, to close at $63.06 after gaining 1 cent, Point Lisas Industrial Port contributing 4,600 shares at $3.60, for a 1 cent gain. Republic Bank trading 344 shares and closing with a 1 cent gain, at $116.01 and Scotiabank gaining 9 cents to end at $62.11 while 838 shares changed hands.
Declines| The stocks declining at the end of trading are, Clico Investment Fund traded 144,695 shares valued at $3,256,576 to end with a fall of 5 cents at $22.50 and Guardian Holdings with 200 shares lost a cent in closing at $14.47.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, First Citizens Bank added 4,550 shares valued at $161,525 and National Commercial Bank with a volume of 6,000 shares closed unchanged at $1.50.
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.
SGJ trades 2.2m shares & NCB 674K
Trading on the Jamaica Stock Exchange is off to a moderate start up to 10:45 Friday and was dominated by Sagicor Group trading 2,226,502 between $10.45 and $10.50, while National Commercial Bank traded 673,941 shares at $25.50, with a bid to buy 492,000 units at $25.50, the offer is at $26 for just over 24,000 shares.
Grace hit a new 52 weeks’ high of $65 while trading a small volume.Only 8 securities has traded so far, with one form the junior market.
The all Jamaica Composite Index climbed back well above the 94,000 mark with a 491 points rally to reach 94,134.38 while the main market index rose 439.16 points to 85,341.78. The junior market index is unchanged at 733.67.
Will NCB pick up RBC Cayman?
Hot on the heels of an agreement to sell RBC Royal Bank (Suriname) N.V. (“RBC Suriname”), to Republic Bank in Trinidad, word reaching IC Insider is that Royal Bank’s operations in the Cayman Island is being sold.
The bank’s website shows three branches in that territory. IC Insider’s source informs us that Michael Lee Chin, Chairman of National Commercial Bank has been seen on the island frequently in recent times, but a comment from National Commercial Bank’s Cayman representative was numb when asked if his bank is buying the RBC operations, but there was no denial suggesting, strongly that NCB is a potential candidate.
RBC Canada stated when they announced the sale of the Suriname bank that “As we continue to focus our Caribbean operations on markets in which we can be a leading competitor for the long-term, we have made the decision to sell RBC Suriname to Republic Bank Limited,” said Kirk Dudtschak, executive vice-president and head, RBC Caribbean Banking. “This transaction supports the successful repositioning of our Caribbean business for the future and allows us to focus on markets where we can strengthen our operational capabilities and where we see opportunities for growth.”
Last year RBC sold the Jamaican operations to Sagicor Group after the entity lost billion of dollars and showed no sign of a turn around.
US$ holds below J$115 Thursday
Dealers sold a net of US$10 million on Thursday following net sales on Wednesday. Purchases of all currencies by dealers amounted to US$26,379,747 equivalent, compared with US$38,067,788, on Wednesday and selling of the equivalent of US$36,916,377 versus sale of US$46,321,683, on the previous trading day.
In US dollar trading, dealers bought US$23,763,336 compared to US$33,626,651 on Wednesday. The buying rate for the US dollar slipped 14 cents to $114.26 and US$35,159,008 was sold versus US$43,174,147 on Wednesday, the selling rate rose 3 cents to end at $114.99. The Canadian dollar buying rate rose 25 cents to $89.88 with dealers buying C$1,176,154, and selling C$625,704, at an average rate that gained just 37 cents to $91.73. The rate for buying the British Pound fell $1.38 to $167.86 for the purchase of £1,057,806, while £799,298 was sold, at an average rate of $169.54, for a $1.35 decline. At the end of trading it took J$124.06 to purchase the Euro, 78 cents less than on Wednesday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$121.60 for a fall of 85 cents on Wednesday’s rate. Other currencies bought, amounted to the equivalent of US$137,089 while the equivalent of US$79,688, was sold.
Highs & Lows| The highest buying rate for the US dollar, remained at $115.10. The lowest buying rate dropped $7.77 to $86. The highest selling rate remained at $120.16 and lowest selling rate jumped $8.23 to $102. The highest buying rate for the Canadian dollar rose 30 cents to $92, the lowest buying rate was unchanged at $72.63, but the highest selling rate fell $1.10 to $94.40 with the lowest selling rate rising $1.50 to $89. The highest buying rate for the British Pound, fell 10 cents to $171.20, the lowest buying rate was unchanged at $136.95 but the highest selling rate dropped $3.23 to $173.32 and the lowest selling rate rose $1.30 to $166.30.
Obama’s visit affected trading Thursday
On Thursday, with more than one and a half hours of opening, only two stocks traded on the Jamaica Stock Exchange, reflecting some of the business interruptions that attended the USA President’s short visit to the Jamaica. 
Trading picked up somewhat after but never got to a robust levels, resulting in the prices of 8 stocks rising, 4 declining as 20 securities changed hands, ending in 790,398 units trading, valued at $4,636,761, in all market segments.
Main Market| The JSE Market Index lost 262.35 points to 84,902.62, the JSE All Jamaican Composite index fell 293.32 points to close at 93,643.37 and the JSE combined index dropped 231.14 points to close at 86,681.44 as trading closed with three stocks closing at 52 weeks’ high.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 14 stocks with bids higher than their last selling prices and 5 with offers that were lower.
National Commercial Bank traded up to $25.50 with a gain of 50 cents with 91,911 units changing hands, there were 673,941 shares on offer at $25.50 with buying for 32,402 units at $25.01. Jamaica Producers put on $1.50 to end at $18.50 but with just 2,000 shares trading.
IC Insider Buy Rated RJR closed at a new 52 weeks’ high of $2 with 190,399 shares as the price puts on 50 cents and Supreme Ventures is also at a new 52 weeks high of $2.80, up 50 cents but with 30,000 shares trading. Sagicor X Fund was down by 40 cents to $6.50 as increased selling is overwhelming demand, trading accounted for 50,000 units but still left 1.4 million units on offer for sale at $6.90 with bids in to buy only 111,053 units at $6.50. Scotia Group traded 26,721 between $21.56 and $22.50, Jamaica Money Market Brokers 8.75% preference share traded 134,000 shares to gain 10 cents and closed at a 52 weeks’ high of $3.20.
Investors selling less junior stocks
Activity on the Junior market closed with only 3 securities trading and ending with 69,733 units changing hands valued at $96,919 due to a combination of less and less stocks being offered for sale and investors trying to hold out at prevailing buy prices.
The JSE Junior Market Index advanced 1.69 points to close at 732.67, with the price of 2 stocks advancing and none declining.
At the close of the market, there were 8 stocks with bids higher than their last selling prices and only 1 with a lower offer. The junior market ended with 5 securities closing with no bids to buy and 11 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, General Accident Insurance gained 5 cents to $1.70 with 15,000 shares Lasco Financial traded 110,00 shares at $1.10 while putting on 1 cent and Jamaican Teas had 7,733 shares changing hands at $2.55.
