Archives for May 2016

Limited junior market activity

May 30, 2016 by

Honey Bun blocked from trading on Monday

Honey Bun blocked from trading on Monday

Trading on the junior market on Monday ended with suspension of trading in Honey Bun shares, after brokers put through trades up to $22. The trades were cancelled as the stock should have been trading ex stock split at the start of trading, but the system was not pre-prepared for the stock to trade ex-split on Monday. The stock will start trading at the ex-split price on Tuesday.
Overall trading was moderate as only a few securities were active in the junior market. At the close the market index rose 0.61 points to end at 2,128.14. The market closed with 829,940 shares valued at $2,963,453 changing hands.
A total of only 9 securities traded of which 3 advanced and 2 declined. The market ended with bids for 10 stocks closing higher than their last selling prices and 2 ending with lower offers.
At the end of trading, Caribbean Cream closed with a gain of 10 cents at $4.70, after trading 60,000 shares, JM Trdng Sht-27-5-16Consolidated Bakeries traded 160,682 units and gained 20 cents to end at $1.80, Jamaican Teas traded 80,048 units to close at $3.90, Jetcon Corporation lost 15 cents in trading 35,685 units at $2.85, KLE Group traded 2,381 shares and closed at $1.61. Lasco Distributors closed with 72,543 units trading at $7.50. Lasco Financial closed at $3.15 with 315,995 shares changing hands after falling 15 cents, Lasco Manufacturing traded 55,902 shares and rose 30 cents to close at $4.70 and tTech ended with 45,704 units changing hands at $4.50.

Filed Under: JSE Junior Market, Stock Market Tagged With: , , , , , , ,

Grace trades at $120 on JSE – Monday

May 30, 2016 by

Grace Kennedy hit a new high of $120 with a rise of $10 in trading on the Jamaica Stock Exchange in the early morning session on Monday with 8384 shares changing hands, while Pan Jamaican Investment Trust went ex-split today with the bid at $24.23 but there has been no stock on offer.
ICI int sht 30-05-16rBerger Paints traded 95,000 shares at $4.45, Ciboney Group had 292,937 units trading at 20 cents, Consolidated Bakeries had trading in 122,036 units at $1.70, Supreme Ventures saw trading in 271,187 units at $4.65, JMMB Group 7.50% preference share had 92,900 units changing hands at $1.04 and Jamaica Money Market Brokers 7.50% preference share traded 490,000 units at $2.10.
Trading resulted in activity in 27 securities, accounting for a volume of 1,812,598 units as 13 stocks gained and 7 declined. The average number of shares traded amounts to 67,133 units compared to an average of a mere 18,121 units on Friday.
After 80 minutes of trading in the early morning session, on Monday, the all Jamaica Composite Index rose 1,001.93 points to 174,155.13, the JSE Market Index rose 895.88 points to 154,265.97, the JSE combined index gained 937.64 points, to 164,423.18 and the junior market index dropped 10.39 points to 2,137.92.

Filed Under: JSE Combined, Stock Market Tagged With: , , , , , , , ,

Shameful, does the JSE care?

May 28, 2016 by

Glnr 21834 Investments, (formerly The Gleaner Company Limited) advised the Jamaica Stock Exchange that the Audited Annual Financial Accounts for March, 2016 will be late and unavailable for publication by May 30, 2016. 1834 anticipates that it should be available for publication on or before June 30, 2016.
This is bad news for investors and bad news for the capital market. Both the Stock Exchange and the Financial Services Commission who overseas such matters should hang their heads in shame for such failure that have deprived investors of getting important financial information on the company’s operations for more than 8 months.
In the past several companies have changed their year end, as recently as late last year Desnoes & Geddes and Access Financial changed their but provided investor with results for all relevant quarters, but the Gleaner Company who changed theirs to March from December did not do so. Regulators of the Stock Exchange gave some clumsy excuse why they could not ask for the December quarter results.
The rules of the Stock Exchange are quite clear, listed companies are required to submit a quarterly interim financial report within 45 days of each quarter. In the case where a company opts to release an audited account within 60 days of the year-end, they can opt in lieu of a quarterly report within 45 days.
The focus is on reporting quarterly, that comes before the audited. What seems to escape the regulators at the Exchange is that investors are kings and queens and they are to one to be foremost in the minds of the regulators to ensure that their investment is protected. One of the main means is timely financial information. If the exchange understood this they would have ensured that the Gleaner Company would be demanded to release the December results within 45 days.
Based on the exchange’s inadequate surveillance we now have a situation where the Gleaner Company (now 1834 Investments) have not reported financial for what looks like 6 months and who knows when it will release the information.
Markets thrive on information and that is the reason why the JSE opted long ago to the publication of quarterlies rather than a six months interim and it has served investors well.

Filed Under: Company News, Company Results Tagged With: , , , , ,

18 JSE stocks up 9 down on Friday

May 27, 2016 by
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Grace Kennedy closed at a 52 weeks' high of $110 on Friday .

Grace Kennedy closed at a 52 weeks’ high of $110 on Friday .

The Jamaica Stock Exchange main market ended with moderate trading but had two stocks closing at 52 weeks’ highs with Grace Kennedy closing at $110 and Kingston Properties ended at $10. A total of 40 securities changed hands, accounting for 5,742,422 units valued at just $30,005,364, in all market segments. The junior market accounted for 1,336,391 shares valued at $9,501,843 of the overall trades.
Investors pushed the price of 18 stocks in the overall market up, 9 down, including 10 stocks rising and only 1 declining, from the junior market as two stocks in the main market hit new highs.
The JSE Market Index surged 1,803.62 points to end at 155,871.64. The all Jamaica Composite Index rose 2,017.11 points to close at 173,153.20 and the JSE combined index climbed 1,971.51 points, to close at 166,411.08.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 13 stocks with bids higher than their last selling prices and 4 with lower offers.
JSE Sum-27-5-16At the end of market activities, Cable & Wireless closed at $1.37 after trading 74,150 units, Caribbean Cement traded 9,295 shares and closed at $25, Carreras fell $1.44 with 36,517 units trading to close at $65, the price of 1834 Investments remained unchanged at $1.10 as 23,335 units changed hands. Grace Kennedy jumped $10 in trading 5,070 units, to close at a 52 weeks’ high of $110, Jamaica Producers traded 2,500 shares at $40, Kingston Properties traded 9,795 shares to end at a 52 weeks’ high of $10, Kingston Wharves fell 25 cents and closed with 2,782 shares changing hands at $11.55. Mayberry Investments lost 45 cents with 8,424 shares changing hands at $3.50, National Commercial Bank traded 29,953 shares, to close at $40 after losing 25 cents. Pulse Investment traded 5,600 shares and gained 10 cents to close at $3.20, JSE mn fn qts 27-5-16Radio Jamaica gained 2 cents in trading 73,776 shares at $1.35, Sagicor Group rose 40 cents and ended with 56,021 shares changing hands at $22.90. Sagicor Real Estate Fund traded 83,944 shares at $10.12, Scotia Group jumped $1.70 to close at $32.70, while 14,350 units changed hands, Seprod traded 1,343 shares with the price falling 49 cents to $16.50. Sterling Investments closed at $11.95 in the main market with 10,000 shares trading, while the 20,000 shares traded in the US dollar market at 11 US cents. Supreme Ventures closed at $4.87 with 37,960 shares changing hands, after losing 28 cents, Proven Investments lost 3 cents in trading 209,562 shares at 17 US cents and Jamaica Money Market Brokers 7.50% preference share, traded 3,671,900 units at $2.11.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , ,

J$ loses ground on Friday

May 27, 2016 by

FX_USPound Dealers in the forex market who bought over US$18 million more than they sold between Tuesday and Thursday, bought US$6 million more than they sold on Friday in all currencies but the local currency selling rate increased for the fifth consecutive day.
The foreign exchange market closed on Friday, with dealers buying the equivalent of US$52,840,212 and selling US$46,464,311, in contrast to US$73,223,739 purchased and US$69,222,068 sold on Thursday.
In US dollar trading, dealers bought US$49,322,500 compared to US$70,329,703 on Thursday, as the buying rate for the US dollar declined by 3 cents to $124.94. A total of US$43,765,413 was sold versus US$67,424,252 on FX Sum-27-05-16Thursday with the selling rate slipping 2 cents to $125.44. The Canadian dollar buying rate rose $1.15 to end at $93.98 with dealers buying C$1,046,871 and selling C$1,519,791, at an average rate that climbed by 15 cents to $96.45. The rate for buying the British Pound climbed $1.29 to $180.43 for the purchase of £1,830,846, while £930,183 was sold, with the rate gaining $1.49 to $183.76.
At the end of trading, the selling rate for Euro, rose 51 cents to close at J$140.28 from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$137.67, for a rise of 69 cents on Thursday’s rate. FX HL -27-05-16 The US dollar equivalent of other currencies traded amounts to US$86,371 being bought, while US$167,726 was sold.
Highs & Lows| Notable changes to the highest and lowest rates, the Jamaican dollar traded at, in the foreign exchange market on Friday, include, a rise of $2.65 in the lowest selling rate of the US dollar to $104.14, a rise of $1.40 in the highest buying rate of the Canadian Dollar to $98.40 and a fall of $1 to $76.36 in the lowest buying rate, while the British Pound enjoyed a $3 rise in the lowest selling rate to $175.

Filed Under: FX Market, Stock Market Tagged With: , , , , , , , , ,

Wide spread gains for Juniors on Friday

May 27, 2016 by

JM Sign The junior market enjoyed one of the best days for some time with advancing stocks out numbering decliners by a wide margin but with a narrow range of companies trading. The strong number of gains led to a 29.10 points rise in the index to end at 2,127.53. The market closed with 1,336,391 shares valued at $9,501,843 changing hands.
A total of 15 securities traded of which 10 advanced and 1 declined. The market ended with bids for 6 stocks closing higher than their last selling prices and 3 ending with lower offers.
At the end of trading, AMG Packaging rose 35 cents with 7,949 shares trading, to end at $12, Caribbean Cream closed with a gain of 13 cents at $4.60, having traded 23,112 shares. Caribbean Flavours traded 1 million units at $8, Consolidated Bakeries traded 94,255 units to gain 10 cents and end at $1.60, General Accident rose by 3 cents with 20,000 units changing hands to close at $2.18.JM Trdng Sht-27-5-16 Honey Bun gained $1 and closed at $19 with 960 shares traded, Jamaican Teas traded 1,542 units and gained 35 cents in the process to close at $3.90, Knutsford Express traded 190 shares and lost 70 cents to close at $16.80, Lasco Distributors gained 5 cents and closed with 87,170 units trading at $7.50. Lasco Financial closed at $3.30 with 20,000 shares changing hands to gain 1 cent, Lasco Manufacturing traded 68,713 shares and rose 10 cents to close at $4.40 and tTech regained the 20 cents it lost on Thursday and ended with 12,500 units changing hands at $4.50.

Filed Under: JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , ,

Decliners beat TTSE advancers – Friday

May 27, 2016 by

Massy rose on Friday

Massy rose on Friday


Trading on the Trinidad and Tobago Stock Exchange on Friday resulted in slightly more stocks declining than advancing. The market closed with 9 active securities changing hands, with 3 stocks rising, 4 declining while 2 remaining unchanged, as 334,465 shares valued at $6,297,246 changed hands. The market ended with 1 stock closing at 52 weeks’ lows.
The Composite Index gained 0.21 points to close at 1,109.67, the All T&T Index advanced by 0.48 points to close at 1,762.60 and the Cross Listed Index remained at 60.73.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 7 stocks with bids higher than their last selling prices and 10 with offers that were lower. The indicator has been showing improving market sentiments recently but it may not mean the end of declining stocks.
Gains| Massy Holdings gained 16 cents in trading 1,010 shares at $48.15, Scotia Investments contributed 500 shares, gaining 1 cent to close at $1.61 and Trinidad and Tobago NGL rose 1 cent in trading 21,792 units with a value of $457,505 to close at $21.
TTSE sum 27-5 -16 Losses| Clico Investment Fund traded 247,113 shares valued at $5,587,242 and fell 4 cents to close at $22.61, Point Lisas lost 2 cents in trading 10,000 units to close at $3.80. Sagicor Financial Corporation closed with 4,000 shares changing hands, to end with a fall of 2 cents at $7.15 and Unilever Caribbean dipped 1 cent with 15 shares trading, to close at a 52 weeks’ low of $64.82.
Firm Trades| Praetorian Property Mutual Fund traded 50,000 shares at $2.70 and Readymix 35 units at $14.01.

Filed Under: Stock Market, TTSE Market Tagged With: , , , , , , , , , ,

Grace hits new high on JSE – Friday

May 27, 2016 by

Grace Kennedy hit a new 52 weeks’ high of $102 but with only 502 shares trading and gained $2 in the process, but now has a bid to buy 7,000 units at $103. With the exception of trading in 1 million units of ICI int sht 27-05-16rCaribbean Flavours at $8 and Jamaica Money Market Brokers 7.50% preference share with 312,000 units changing hands at $2.11, volumes were light on the Jamaica Stock Exchange, in the early morning session on Friday.
Trading resulted in activity in 28 securities, accounting for a volume of 1,571,599 units as 9 stocks gained and 9 declined. The average number of shares traded is just 56,129 units compared to an average of a mere 18,121 units on Thursday.
After 75 minutes of trading in the early morning session, on Friday, the all Jamaica Composite Index rose 1,650.04 points to 172,786.13, the JSE Market Index rose 1,475.40 points to 155,543.42, the JSE combined index gained 1,621.07 points, to 166,060.64 and the junior market index rose 24.61 points to 2,123.04.

Filed Under: JSE Combined, Stock Market Tagged With: , , , ,

Palace jumped $55 on Thursday

May 26, 2016 by

Palace Amusement jumped $55 to end at a 52 week's high of $150.

Palace Amusement Company jumped $55 to end at a 52 week’s high of $150.

The Jamaica Stock Exchange main market ended with two new 52 weeks’ high as Grace Kennedy closed at $100 and infrequently traded cinema owners, Palace Amusement Company, traded up $55 to a new record high of $150. The junior market saw ISP Finance Services trading at a new all-time high at the close as well. The market closed with 39 securities changing hands, accounting for 5,686,085 units valued at just $41,894,236, in all market segments. The junior market accounted for 1,193,487 shares valued at $5,345,787 of the total level traded.
Investors pushed the price of 16 stocks in the overall market up, 10 down, including 5 stocks rising and 6 declining, from the junior market as two stocks in the main market hit new highs.
The JSE Market Index gained 763.41 points to end at 154,068.02. The all Jamaica Composite Index rose 853.77 points to close at 171,136.09 and the JSE combined index climbed 426.46 points, to close at 164,439.57.
JSE Sum-26-5-16 IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 10 stocks with bids higher than their last selling prices and 2 with lower offers.
At the end of market activities, Cable & Wireless closed with a 9 cents gain at $1.37 after trading 2,156,546 units, Caribbean Cement traded 58,012 shares and gained 1 cent and closed at $25, Carreras rose $1.44 with 13,016 units trading to close at $66.44, Ciboney traded 161,517 units and gained 3 cents to close at 21 cents. Grace Kennedy jumped $8 in trading 3,985 units to close at a 52 weeks’ high of $100, Jamaica Producers traded 97,862 shares at $40, Kingston Wharves closed with 5,572 shares at $11.80, National Commercial Bank traded 268,497 shares, to close at $40 after losing 25 cents. Palace Amusement traded 1,950 shares and gained $55 to close at a 52 weeks high of $150,JSE mn fn qts 26-5-16 Pan Jamaican Investment rose 20 cents to close trading at $121 as 21,000 shares changed hands, Radio Jamaica rose by 2 cents in trading 66,216 shares at $1.33, Sagicor Group ended with 11,348 shares changing hands at $22.50. Sagicor Real Estate Fund gained 12 cents trading 948,689 shares and ended at $10.12, Scotia Group rose 50 cents to close at $31, while 51,927 units changed hands, Seprod traded 10,392 shares with the price rising 9 cents to $16.99. Sterling Investments lost 3 cents to close at $11.95 with 10,410 shares trading, Supreme Ventures closed at $5.15 with 24,700 shares changing hands, after losing 9 cents and Jamaica Money Market Brokers 7.50% preference share, traded 559,100 units at $2.11.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , ,

J$ holds vs US for 4th day to Thursday

May 26, 2016 by

US$ bungle Dealers in the forex market who bought over US$14 million more than they sold on Tuesday and Wednesday, bought another US$4 million more than they sold on Thursday in all currencies, but the local currency selling rate remained unchanged for the fourth consecutive day.
The foreign exchange market closed on Thursday, with dealers buying the equivalent of US$73,223,739 and selling US$69,222,068, in contrast to US$47,426,389 purchased and US$41,268,792 sold on Wednesday.
In US dollar trading, dealers bought US$70,329,703 compared to US$43,202,460 on Wednesday, as the buying rate for the US dollar rose 19 cents to $124.97. A total of US$67,424,252 was sold versus US$38,669,562 on Wednesday with the selling rate remaining unchanged at $125.42.FX Sum-26-05-16 The Canadian dollar buying rate fell 42 cents to end at $92.83 with dealers buying C$818,078 and selling C$976,124, at an average rate that climbed by 37 cents to $96.30. The rate for buying the British Pound fell 97 cents to $179.14 for the purchase of £1,495,157, while £516,202 was sold, with the rate gaining $1.26 to $182.27.
At the end of trading, the selling rate for Euro, dropped 20 cents to close at J$139.77, from Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$136.98, for a fall of 40 cents from Wednesday’s rate. The US dollar equivalent of other currencies traded amounts to US$143,028 being bought, while US$298,211 was sold.
FX HL -26-05-16Highs & Lows| Notable changes to the highest and lowest rates, the Jamaican dollar traded at, in the foreign exchange market on Thursday, include, a drop of $18.51 in the lowest selling rate of the US dollar to $101.49, a rise of 90 cents in the highest buying rate of the British Pound to $185.70, a rise of $1.08 in the lowest buying rate to end at $146.50, a gain of $1.40 in the highest selling rate for to $190.62 and an decline of $1 in the lowest selling rate to $172.

Filed Under: FX Market, Stock Market Tagged With: , , , , , , , , ,