Archives for April 2016
Trading falls for juniors – Thursday
At the close, 7 stocks closed with bids higher than the last selling prices and 3 ended with lower offers. Volume traded is 3,938,670 shares valued at $14,970,710.
At the end of trading in a market, AMG Packaging traded 1,848 shares at $13, Caribbean Cream traded 133,566 units to gain 20 cents and end at $4.20, Consolidated Bakeries rose 8 cents in trading 18,782 shares to close at $1.25, Honey Bun rose $1.20 to end at $17 with 4,000 shares trading. Iron Rock Insurance traded at $3.30 while 9,786 shares changed hands with a gain of 20 cents, ISP Finance had 50,000 shares changing hands and rose 29 cents to close at $2.74, Jamaican Teas traded 5,000 shares and gained 30 cents to end at $4, Jetcon Corporation fell 15 cents to end at $2.70 while 880, 327 units traded. Lasco Distributors rose 5 cents and ended at $7.25 with 272,349 shares trading. Lasco Financial lost 10 cents to close at $3 with 1,397,376 shares changing hands, Lasco Manufacturing rose 15 cents to close at $4.85 with 1,213,474 shares trading and tTech ended with 2,162 units changing hands to end with a gain of 3 cents at $4.18.
Only TTSE stocks trade – Thursday
Trading ended with just 6 active securities changing hands on Trinidad & Tobago Stock Exchange on Thursday with 3 stocks gaining and 1 declining while 2 remained unchanged as trading ended with 127,056 shares valued at $838,231 changing hands. Notwithstanding the advance decline ratio the market remains under selling pressure with several stocks closing with offers below the last traded price.
The Composite Index declined by 0.39 points to close at 1,126.37, the All T&T Index eased 1.39 points to close at 1,801.47 and the Cross Listed Index advanced by 0.09 points to end at 59.94.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 5 stocks with the bid higher than the last selling prices and 12 with offers that were lower.
Gains| Sagicor Financial Corporation gained 10 cents and closed with 82,025 shares valued at $582,378 changing hands at $7.10, Trinidad and Tobago NGL gained 1 cent, to close at $19.53 with 1,500 shares trading and West Indian Tobacco rose 2 cents to close at $126.30 with 139 shares changing hands.
Losses| Massy Holdings, lost 73 cents to close at 52 weeks’ low of $52.21 with 1,465 shares changing hands.
Firm Trades| Angostura Holdings closed at $13 with 1,875 shares changing hands and Praetorian Property Mutual Fund traded 40,052 shares to end at $2.70.
JSE slip in early trading – Thursday
Trading in the mid-morning session on the Jamaica Stock Exchange saw decline in the main and junior market indices with the advance decline ratio being nearly even.
The leading trades in the morning session, include Cable and Wireless with 1,502,355 units, Jetcon Corporation with 836,487 units, Lasco Manufacturing 914,053 shares National Commercial Bank with 540,045 units ahead of today’s release of the March quarter results and dividend announcement.
After 90 minutes of trading, on Thursday, the average volume traded amounts to 149,862 units per active stock, compared to an average of 157,938 units traded in the mid-morning session on Wednesday. A total of 29 securities accounting for 4,346,000 shares changed hands as 7 stocks gained and 6 declined.
The market saw the all Jamaica Composite Index slipped 506.63 points to 168,815.53, the JSE Market Index fell 453.01 points to 151,993.07, the JSE combined index ended with a fall of 529.58 points to 162,523.11 and the junior market index declined 10.66 points to 2,099.24.
Profit jumps 127% for car mart
Jetcon Corporation’s revenues grew 55 percent in the first quarter ending March, leading to an increase of 127 percent in profit before tax came of $19.35 million, while after tax the profit rose 126 percent to $14.6 million or 9.4 cents per share compared with $6.8 million in the same period in 2015.
The growth for the quarter is above the 50 percent increase enjoyed during all of 2015. Gross profit doubled to $32.4 million and gross profit margin, moved from 16.9 percent to 21.9 percent, during the quarter.
Inventory of motor vehicles and parts increased moderately since March 2015 but is up 46.7 percent since December 2015, to reach $123.9 million while receivables increased sharply but is due to amounts deposited with suppliers for goods. All loans that were outstanding at the end of December last year have since been repaid in full and cash on hand increased to $60.5 million helped by the inflows of funds from the initial Public offer.
The shares which were listed on the junior market of the Jamaica Stock Exchange in March this year, traded at $2.85 after details of the results were released.
1 stock rose on TTSE – Wednesday
Scotiabank after not trading since April 6, did so today and declined but the stock is still under pressure along with a number of others including Massy Holdings and Republic Financial Holdings.
The Composite Index declined by 1.25 points to close at 1,126.76, the All T&T Index eased 3.50 points to close at 1,802.86 and the Cross Listed Index advanced by 0.14 points to end at 59.85.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 6 stocks with the bid higher than the last selling prices and 10 with offers that were lower.
Gains| National Commercial Bank closed with 51,958 shares changing hands but rose 5 cents to end at $2.35.
Losses| Sagicor Financial Corporation fell 24 cents and closed with 17,054 shares changing hands at $7, Scotiabank lost 97 cents to close at 52 weeks’ low of $56.43 with 174 shares changing hands and Trinidad and Tobago NGL lost 1 cent, to close at $19.52 with 5,202 shares trading.
Firm Trades| Clico Investment Fund closed at $22.60 with 21,278 shares valued at $480,883 changing hands, JMMB Group traded 291,161 shares at 58 cents, National Enterprises closed with 155,258 shares, valued at $1,762,889 changing hands, at $11.35, National Flour Mills closed with 15,780 shares trading at $2.30 and Praetorian Property Mutual Fund contributed 9,948 shares to end at $2.70.
JSE jumps in early trading – Wednesday
Trading picked up in the mid-morning session on the Jamaica Stock Exchange with a few million unit trades. Consolidated Bakeries had 1,000,000 units changing hands, KLE Group 1,000,000 shares as well along with 6 trades of more than 200,000 units.
Trading saw all major indices rising, with the main market indices gaining just under 900 points and the junior market index climbing over 53 points after 90 minutes of trading, on Wednesday. The average volume traded amounts to 157,938 units per active stock, compared to an average of 107,260 units traded in the mid-morning session on Tuesday.
A total of 28 securities accounting for 4,422,256 shares changed hands as 12 stocks gained and 8 declined.
The market saw the all Jamaica Composite Index rising 1,109.08 points to 169,116.88, the JSE Market Index gained 991.69 points to 152,262.52, the JSE combined index ended with a rise of 1,470.55 points to 162,998.50 and the junior market index rose 53.69 points to 2,121.22.
Juniors dip as 8 stocks fall – Tuesday
Trading on the junior market resulted in more stocks declining than rising by a wide margin and ended with the index dropping 37.33 points end at 2,067.53 on Tuesday. A volume of 3,312,315 shares valued at $12,515,372 traded, including two large trades, with Lasco Manufacturing accounting for 1,106,586 shares and Caribbean Producers with 1,063,150 shares.
The market closed with 16 active securities, 2 of which advanced and 8 declined while 2 stocks closed with bids higher than the last selling prices and 3 ended with lower offers.
At the end of trading in a market, Access Financial Services closed at $16.50 with 5,000 units changing hands, Caribbean Cream traded 109,925 units but lost 17 cents to end at $3.83, Caribbean Flavours lost 5 cents to close at $8.50 while 1,222 shares were traded, Caribbean Producers fell 10 cents to end at $3.90. Consolidated Bakeries fell 10 cents in trading just 122,376 shares to close at $1.20, C2W Music had 29,019 units changing hands at 32 cents, General Accidents closed at $2.65 with 136,177 shares changing hands, Honey Bun rose 50 cents to end at $16 with 8,527 shares trading. Iron Rock Insurance fell 40 cents to $3.10 while trading 118,926 shares, ISP Finance had 19,300 shares changing hands, at $2.45, Jamaican Teas traded 74,583 shares at $3.50, KLE Group traded 331,000 shares at $1.40, Lasco Distributors lost 98 cents and ended at $6.52 with 115,359 units trading. Lasco Financial closed at $3 with 43,200 shares changing hands but with a loss of 3 cents, Lasco Manufacturing gained 20 cents to close at $4.75 and tTech fell 3 cents and ended with 27,965 shares changing hands at $4.15.