Archives for December 2015

JSE closes 2015 on a new high

December 31, 2015 by IC Insider.com

Sagicor Group HQ – its stock traded at a new high of $20 on the JSE

The Jamaica stock market ended a momentous 2015 with all three main indices making generous gains to reach new record highs, with the JSE combined market index recording gains of 102 percent for the year to date and the all Jamaica composite up 99 percent.
At the close, 6,627,296 units valued at $58,113,757 changed hands in all markets with the junior market accounting for 4,049,568 units, valued at $15,799,898. A total of 36 securities traded in all market segments, 19 of which in the combined markets gained and 8 declined. Four stocks traded at 52 weeks’ closing high and 1 at intraday 52 weeks’ high as investors continue to push prices higher.
At the close the JSE Market Index climbed 874.37 points to 150,692.13, the all Jamaica Composite Index rose 977.16 points to end at 167,363.25 and the JSE combined index gained 815.65 points to close at 158,269.14. The main market was facing resistance around the 165,000 points level, the on the all Jamaica composite index, now that it has crossed it,

the first week in 2016 will show if that level will now provide strong support for launch higher.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 15 stocks with bids higher than their last selling prices and 4 with lower offers.
In trading, Cable and Wireless fell 4 cents with 91,865 units changing hands to close at $1.30 after trading as high as $1.45, Caribbean Cement fell 10 cents to end at $19.90, with 288,060 shares trading, Carreras closed at $60.82, with 8,378 units changing hands for 3 cents fall. Gleaner Company traded 2,661 shares at $1.30 with a 10 cents decline but had a bid at $1.49 to buy 10,240 shares. Grace Kennedy with 1,728 units changing hands finished higher by $1.15 at $81.25, Jamaica Broilers rose 25 cents and closed at $10.25 with 477,964 shares changing hands, Jamaica Producers traded 4,891 shares to end at $30.68, after falling 32 cents.

Jamaica Stock Exchange shed 39 cents in trading 100,000 shares at $18.60, Kingston Wharves closed at $11.35 with 41,990 shares changing hands, 5 cents higher. National Commercial Bank gained 99 cents to end at a 52 weeks’ high of $40, with 170,396 units changing hands, the stock traded as high as $40.02 for a 52 weeks’ intraday high. Pan Jamaican Investment had 4,140 shares trading with a gain of $1 to $94, Sagicor Group gained $1.50 and closed at $20 for 52 weeks’ high with 37,610 units changing hands, Scotia Group had 163,055 shares changing hands at $30.01 after falling by $1.48. Scotia Investments closed at $30 with only 5,000 shares trading and Supreme Ventures rose 4 cents and ended at $4.66 with 509,719 units changing hands.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: Cable & Wireless, Caribbean Cement, Carreras, Desnoes and Geddes’, Gleaner, Grace Kennedy, Jamaica Broilers, Jamaica Money Market Brokers, Jamaica Stock Exchange, Kingston Wharves, National Commercial Bank, Pan Jamaican, Proven Investments, Sagicor Group, Scotia Group, Seprod, Supreme Ventures

Jam$ dips to close out year down

December 31, 2015 by IC Insider.com

The Jamaican foreign exchange market trading activity on the last Thursday in 2015, fell below Wednesday’s levels with dealers selling more funds than they purchased. The value of the local currency slipped against its major counterpart currencies.
In trading dealers bought the equivalent of US$32,723,774 and sold US$42,295,648, compared with US$35,663,399 purchased and US$42,378,801 sold on Wednesday.
Sale of US dollars , exceeded the amount dealers bought by US$11 million as dealers bought US$29,243,474 compared to US$31,547,200 on Wednesday. The buying rate for the US dollar rose 3 cents to $119.64. A total of US$40,545,786 was sold versus US$40,319,564 on Wednesday as the selling rate rose 8 cents to $120.42. The Canadian dollar buying rate declined 27 cents to end at $83.28 with dealers buying C$1,528,540 and selling C$863,232, at an average rate that gained 15 cents to $84.91. The rate for buying the British Pound dropped 40 cents to $175.74 for the purchase of £1,513,957, while £686,125 was sold, with the rate rising $2.04 to $177.12. At the end of trading, it took J$131.34 to purchase the Euro, for a gain of 11 cents from Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$128.58, rising 6 cents from Wednesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$192,608 being bought, while US$131,968 was sold.
Highs & Lows| The highest buying rate for US dollar rose 5 cents to $120.70, the lowest buying, the highest and lowest selling rates were unchanged at $98.61, $126.37 and $116 respectively. The Canadian dollar highest buying rate gained 30 cents to $86.80, the lowest buying rate rose 17 cents to $68.48. The highest selling rate declined by 65 cents to $88.85 and the lowest selling rate ended unchanged at $81.50. The highest buying rate for the British Pound, rose 16 cents to $179.16, the lowest buying rate remained unchanged at $142.84, the highest selling rate climbed $2.10 to $184.15 while the lowest selling rate rose 65 cents to $170.65.

Filed Under: FX Market, Stock Market Tagged With: BOJ, British Pound, Canadian dollar, Daily Trading, euro, FX Market, J$ vs euro, Jamaica dollar, Trading Activity, US Dollar

Juniors close 2015 with 8 up 3 down

December 31, 2015 by IC Insider.com

Honey Bun closed at a new 52 weeks’ high on Thursday

The junior market ended 2015 with gains of 160 percent with but the market suffered a modest decline on Thursday with the index falling 1.10 points to end at 1,791.05. The market closed with 16 securities trading 8 of which advanced, 3 declined with 2 closing at a new 52 weeks high. Volume changing hands amounted to 4,049,568 units, valued at $15,799,898.
At the close, 1 security ended with no bids to buy and 6 securities had no stocks being offered for sale. A total of 3 stocks closed with bids higher than their last traded prices while 2 closed with lower offers.
In trading, C2W Music closed with a gain of 1 cent as 20,000 units changed hands at 39 cents, Caribbean Cream ended the year with 264,288 shares changing hands for a gain of 10 cents to $4.08, Caribbean Producers traded 6,000 units to close with a gain of 45 cents at $5.45. Consolidated Bakeries gained 15 cents to end at $1.45 with 2,922 units changing hands, Derrimon Trading had 3,135,140 shares trading for a gain of 7 cents to close at $3.87, Dolphin Cove ended with 3,900 shares changing hands at $15.50, after falling 25 cents, General Accident ended with 20,000 shares trading close at $2.05 for a loss of 3 cents. Honey Bun rose 4 cents to end at a 52 weeks’ high of $6.15, with 1,800 units changing hands, Jamaica Teas traded at a new 52 weeks’ high of $5.10 with a gain of 5 cents while a mere 850 units traded, at the close the stock was offered at $5.05.

KLE Group ended at $1.87 with 4,000 shares changing hands to record a loss of 1 cent, Lasco Distributors rose by 10 cents and closed with 95,306 shares changing hands at $5.50 for a closing 52 weeks’ high. Lasco Financial closed at $3.70, with 3,899 shares changing hands, Lasco Manufacturing closed at $3.50 with 246,352 shares trading, Medical Disposables traded 10,000 shares to close unchanged at $3.55, Sweet River ended with 100,000 units changing hands at $3.91 after losing 4 cents and Eppley 9.5% preference share traded 135,111 units at $6.

Filed Under: JSE Junior Market, Stock Market Tagged With: C2W Music, Caribbean Producers, Consolidated Bakeries, Derrimon Trading, Dolphin Cove, Eppley, Honey Bun, Jamaican Teas, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Medical Disposables, Sweet River

TTSE ends 2015 mixed

December 31, 2015 by IC Insider.com

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The last trading day of 2015 saw mixed fortune for the Trinidad and Tobago Stock Exchange with 2 stocks rising and 2 declining as the market closed with 10 active securities with the prices of 6 remaining unchanged. A total of 285,623 shares changed hands valued at $826,260.
The Composite Index ended with a gain of 0.44 points to 1,162.30, the All T&T Index fell 0.05 points to 1,948 50 and the Cross Listed Index rose 0.12 points to end at 49.51.
IC bid-offer Indicator| At the end of trading there are signs that the number of stocks gaining could rise with IC Bid indicator showing an increase number of stocks with higher bids than in recent trading days. The Investor’s Choice bid-offer indicator had 6 stocks with bids higher than the last selling price and 6 stocks with offers that were lower.
Gains| JMMB Group gained 2 cents in trading 235,000 shares to close at 55 cents and Trinidad and Tobago NGL gained 7 cents, to end at $21.50 with 25,000 shares changing hands valued at $537,500.
Declines| Scotiabank closed with 500 shares changing hands with a 1 cent loss to end at $61.94 and Trinidad Cement closed with a loss of 1 cent at $3.99 with 100 shares changing hands.
Firm Trades| Trading in First Citizens ended with 939 units changing hands to close at $35, Grace Kennedy had 7,212 units changing hands at $4.05, Guardian Holdings ended with 260 shares trading at $13.25. National Commercial Bank closed at $2.10 while trading 14,610 shares and National Flour Mills contributed 300 shares in closing at $2.70 and Sagicor Financial Corporation traded 372 shares and closed at $6.20

Filed Under: Stock Market, TTSE Market Tagged With: Daily Trading, First Citizens, Firstcaribbean International Bank, Grace Kennedy, JMMB, JMMB Group, National Commercial Bank, National Flour Mills, NCB, Sagicor, Sagicor Financial Corporation, Scotiabank, Trinidad and Tobago NGL, Trinidad Cement, TTSE

JSE down early Thursday trading

December 31, 2015 by IC Insider.com

The JSE main market suffered reversal of the big gains recorded on Wednesday, as Scotia Group pulled back from the closing price of $31.49 to $30, helping to knock 1,006 points off the all Jamaica composite index and pushing the other main market indices down sharply as well. The junior market inched up a bit as trading volumes are light on the final trading day of 2015.
The all Jamaica Composite Index declined by 1,006.49 points to 165,379.60 the JSE Market Index declined 900.62 points to 148,917.14, the JSE combined index fell by 843.70 points to 156,609.79 and the junior market index is up 0.75 points to 1,792.90.
A total of 23 securities traded amounting to 423,132 units changing hands with 13 rising, while 4 declined.
Interesting trades include, Gleaner Company with just a small volume at $1.30 but now has a bid to buy 16,000 units at $2 with the offer at $2.50, this comes after shareholders in Radio Jamaica and the Gleaner voted on Wednesday to approve the merger of the Gleaner’s media business with Radio Jamaica. Pan Jamaican Investment traded just 4,140 shares at $94 for a $1 gain, Sagicor Group traded only 424 shares at $18.51 but has a bid at $19 which is 49 cents higher than they last sale price with only one offer at $20.05 to sell a mere 2,000 shares and Scotia Group traded 95,636 units with the last transaction at $30.

Filed Under: JSE Main Market, Stock Market Tagged With: Daily Trading, Gleaner, Jamaican Stock, Pan Jamaican Investment, Radio Jamaica, Sagicor, Sagicor Group, Scotia, Trading Activity

Strong profit gains at Broilers

December 31, 2015 by IC Insider.com

Chicken meat and feed processors, Jamaica Broilers recorded an impressive 297 percent increase in net profits attributable to shareholders for the quarter ending October 2015 amounting to $408 million and earnings per share of 33.8 cents according to the interim financial results.
For the six months, profit rose a very strong 242 percent to hit $740 million with earnings per share of 61 cents. IC Insider forecast earnings for the full year at $1.30 and $1.70 for the 2017 fiscal year. Broilers generated $1.76 billion in gross cash flows from operating activities during the half year.
The stock last traded on The Jamaica Stock Exchange at $10 for a PE of 7.7 times this year’s earnings, leaving room for moderate growth based on 2015/16 results and current valuation of stocks.
Sales revenue for the October quarter rose 6 percent to $9.17 billion, compared to $8.68 billion in 2014 and by 9 percent for the half year to $18.1 billion. Gross profit for the quarter increased 30 percent to $2.28 billion, from $1.75 billion of the corresponding quarter last year and grew by 31 percent for the six months to $4.56 billion.
The “US Operations performed as expected with respect to the sale of our main product –fertile eggs for the broiler industry. The year to date segment results amounted to $538 million. Our presence in the markets remains strong, with a broad customer base and we are seeing the benefits of the US dollar hard currency earnings. We expect steady growth in other product lines in this segment. We are recording increased sale volumes in poultry and feed products, consequent on targeted marketing strategies,” the company’s management stated in their report to shareholders.
“In the Other Caribbean Operations, Haiti Broilers SA has increased production and sale of table eggs to 14% of the market, compared to 12% at the end of the second quarter last year. The positive effect of this volume growth has however been neutralized by significant increases in operating costs due to the continuing depreciation of the Haitian Gourde against the US dollars”, the management report went on to state.
Cost overall climbed with some increasing much faster than revenues. Distribution and selling cost rose in line with revenues with an increase of 9 percent in the quarter and year to date with cost of $260 million in the quarter and $508 million for the half year. Administrative costs, tripled the growth in revenues in the October quarter to be up by 19 percent to $$1.4 billion and increased by 18 percent for the six months to $2.9 billion. Finance cost fell in the quarter and grew slightly or the half year while interest income rose strongly.
Cash and short-term investments totalled $2.36 billion, Current Assets amounted to $11.4 billion and current liabilities at $6.8 billion, shareholders’ equity stands at $12 billion and borrowings at $6.3 billion, down from $7 million in 2014.

Filed Under: Company News, Company Results Tagged With: Haiti Broilers SA, Jamaica Broilers, Jamaica Stock Exchange, Jamaican Stock

Jam$ slips v US$ gains on others

December 30, 2015 by IC Insider.com

The Jamaican foreign exchange market trading activity on the final Wednesday in 2015, fell below Tuesday’s levels with dealers selling more funds than they purchased. The value of the local currency slipped slightly against the US dollar but gained against others.
In trading dealers bought the equivalent of US$35,663,399 and sold US$42,378,801, compared with US$45,261,760 purchased and US$44,691,797 sold on Tuesday.
Sale of US dollars , exceeded the amount dealers bought by US$8.8 million as dealers bought US$31,547,200 compared to US$40,016,157 on Tuesday. The buying rate for the US dollar fell 3 cents to $119.61. A total of US$40,319,564 was sold versus US$41,999,216 on Tuesday as the selling rate rose 2 cents to $120.34. The Canadian dollar buying rate declined 21 cents to end at $83.55 with dealers buying C$1,541,212 and selling C$1,140,246, at an average rate that fell $1.13 cents to $84.76. The rate for buying the British Pound climbed by $1.04 to $176.14 for the purchase of £1,790,783, while £550,663 was sold, with the rate falling $2.06 to $175.08. At the end of trading, it took J$131.23 to purchase the Euro, for a fall of 89 cents from Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$128.52, falling by 57 cents from Tuesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$402,446 being bought, while US$455,005 was sold.
Highs & Lows| The highest buying rate for US dollar fell 5 cents to $120.65, the lowest buying was unchanged at $98.61. The highest selling rate fell 10 cents to close at $126.37 and the lowest selling rate was unchanged at $116. The Canadian dollar highest buying rate fell 70 cents to $86.50, the lowest buying rate remained at $68.31. The highest selling rate declined by 50 cents to $89.50 and the lowest selling rate rose by $1.50 to end at $81.50. The highest and lowest buying rates for the British Pound, remained unchanged at $179 and $142.84 respectively, the highest selling rate dropped $2.95 to $182.05 while the lowest selling rate fell 55 cents to $170.

Filed Under: FX Market, Stock Market Tagged With: BOJ, British Pound, Canadian dollar, euro, J$ vs euro, Jamaica dollar, Trading Activity, US Dollar

Up day on TTSE – Wednesday

December 30, 2015 by IC Insider.com

T&TNGL made good gains on Wednesday

The penultimate trading day of 2015 on the Trinidad and Tobago Stock Exchange enjoyed heightened price changes as indicated by the IC bid-offer Indicator at the close on Tuesday. The market closed with 12 active securities and the prices of 7 stocks rose, 2 declined and 3 remained unchanged as 80,119 shares changed hands valued at $1,213,579.
The Composite Index ended with a gain of 1.96 points to 1,161.86, the All T&T Index gained 0.75 points to 1,948 55 and the Cross Listed Index fell 0.44 points to end at 49.39.
IC bid-offer Indicator| At the end of trading there are signs that the number of stocks gaining could rise with IC Bid indicator showing an increase number of stocks with higher bids than in recent trading days. The Investor’s Choice bid-offer indicator had 5 stocks with bids higher than the last selling price and 6 stocks with offers that were lower.
Gains| Grace Kennedy added 4 cents with 3,715 units changing hands at $4.05, National Commercial Bank rose by 5 cents to $2.10 while trading 185,390 shares valued at $389,319, Republic Financial Holdings gained 2 cents to close at $111.93 with 21,365 shares changing hands at a value of $2,391,384. Point Lisas gained 1 cent with 100 shares trading to close at $3.92, Trinidad and Tobago NGL closed with a gain of 42 cents, to end at $21.43 with 160,156 shares changing hands valued at $3,432,434. Sagicor Financial Corporation traded 10,912 shares and rose by 10 cents to $6.20 and West Indian Tobacco gained 2 cents with 25,000 units changing hands to close at a new 52 weeks’ high of $126.29.

Declines| ANSA McAL contributed 174,058 shares with a value of $11,597,485 but lost 7 cents in closing at $66.63 and Unilever Caribbean ended with 200 shares trading 19 cents lower at $68.30.
Firm Trades| Trading in First Citizens ended with 6,019 units changing hands to close at $35, JMMB Group traded 190,148 at 53 cents and Massy Holdings ended at $61.45 while trading 2,530 shares.

Filed Under: Stock Market, TTSE Market Tagged With: Ansa Mcal, First Citizens, Firstcaribbean International Bank, Guardian Media, JMMB Group, Massy Holdings, Point Lisas, Republic Financial Holdings, Sagicor Financial Corporation, Trinidad and Tobago NGL, Unilever Caribbean, West Indian Tobacco

JSE up 101% to Wednesday

December 30, 2015 by IC Insider.com

JSE Market index is up 101% for 2015 to December 30.

JSE Combined index is up 101% for 2015 to December 30.

Trading ended on the Jamaica stock market with all three main indices making strong gains to reach new record highs, with the JSE combined index recording gains of 101 percent for the year to date.
At the close, 52,944,749 units valued at $911,064,403 changed hands in all markets with the junior market accounting for 886,844 units, valued at $4,712,436.
Trading was swollen by the sale of Grace Kennedy’s 58.15 percent interest it held in Hardware & Lumber (H&L), with the shares traded over the Jamaica Stock Exchange floor today by GK Capital Management amounting to 47,013,417 at $18.50 per share. A total of 47,076,054 shares were traded amounting to $870,892,021.
At the close 33 securities traded in all market segments. A total 15 securities in the combined markets gained and 6 declined. Five stocks traded at 52 weeks’ closing high and 1 at intraday 52 weeks’ high as investors continue to push prices higher.
At the close the JSE Market Index climbed 1,322.30 points to 149,817.76, the all Jamaica Composite Index rose 1,477.75 points to end at 166,386.09 and the JSE combined index gained 1,838.65 points to close at 157,453.49. The main market was facing resistance around the 165,000 points level, the on the all Jamaica composite index, now that it has crossed it, there needs to more movement upwards for this level to become a strong support.

IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 14 stocks with bids higher than their last selling prices and 5 with lower offers.
In trading, Cable and Wireless gained 4 cents with 129,025 units changing hands to close at $1.34, Caribbean Cement rose $1.80 to end at $20, with 15,250 shares trading, Carreras closed at $60.85, with 4,100 units changing hands for 10 cents more to end at a 52 weeks’ high. Gleaner Company traded 2,775,068 shares at $1.40 with a rise of 10 cents, on the morning that the meeting was called to vote on the merger of the company’s media business with Radio Jamaica. Grace Kennedy with 2,700 units changing hands finished at $80.10, Jamaica Broilers lost 50 cents to close at $10 with 163,150 shares changing hands, Jamaica Producers traded 2,169 shares to end at $31, after shedding $1. JMMB Group closed at $10.25 with 771,900 units changing hands, Jamaica Stock Exchange traded 21,518 shares at $18.99, Kingston Wharves closed at $11.30 with 1,496 shares changing hands for 5 cents lower.

National Commercial Bank lost 49 cents to end at $39.01, with 141,836 units changing hands, Sagicor Group gained 90 cents and closed with 462,258 units changing hands at $18.50, Sagicor Real Estate Fund traded 173,400 shares to close at $11. Scotia Group had 96,895 shares changing hands at a new 52 weeks’ high of $31.49 after rising by $1.49 but had an offer at $29.50 to sell 1,000 shares at the close. Seprod closed at a new 52 weeks’ high of $21 after rising by 44 cents with only 4,000 shares trading, Sterling Investments had 17,049 units trading at $13, Supreme Ventures ended at $4.66 with 179,175 units changing hands and Proven Investments ordinary share traded 28,400 units at 22.99 US cents.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: Cable & Wireless, Caribbean Cement, Carreras, Desnoes and Geddes’, GK Capital Management, Gleaner, Grace Kennedy, H&L, Jamaica Broilers, Jamaica Money Market Brokers, Jamaica Stock Exchange, Kingston Wharves, National Commercial Bank, Proven Investments, Sagicor Group, Sagicor Real Estate Fund, Scotia Group, Seprod, Sterling Investments, Supreme Ventures

Grace Kennedy sells H&L interest

December 30, 2015 by IC Insider.com

Grace Kennedy has sold its 58.15 percent interest in Hardware & Lumber (H&L) with the shares traded over the Jamaica Stock Exchange floor today by broker – GK Capital Management in the amount of 47,013,417 shares at $18.50 each.
The shares are sold to, Argyle Industries Inc. (“Argyle”) a St. Lucian Company special purpose vehicle incorporated for the purposes of acquiring and holding the Investor’s equity interests in Hardware & Lumber. The investors in Argyle include a group of investors led by, ABBECO INVEST S.A. ( a Bahamian investment company), Sterling Asset Management along with its affiliates and associates and Greystone Equity Partners Inc. along with its affiliates and associates a release from Grace Kennedy said.
Grace Kennedy Group CEO, Don Wehby, stated “As previously indicated GraceKennedy’s decision to sell our shares in H&L was not an easy one, however, this divestment is consistent with our present strategy of concentrating on the food business locally and internationally and financial services in the region.” He added, “I feel very positive about the continued growth of H&L under the prospective new owners, Argyle, who are excited about the possibilities for the future.”

Rapid True Value owned by Hardware & Lumber an associate of Pan Jam

Total revenue for the nine months to September this year was $5.37 billion or 2.3 percent more than the comparative period in 2014. Profit after tax for the nine-month to September 2015 was $64 million, 43.2 percent less than the $112.9 million for the same period in 2014.
H&L comprises the Rapid True Value and the Agro Grace business. There are currently 10 Rapid True Value outlets across Jamaica, along with six Agro Grace Retail Centres. The company is headquartered at in Kingston.
The buyers will be required to make an offer to buy the remaining shares at the same price of $18.50.