Junior market trading closed with an increase in the index on Tuesday with more stocks gaining than falling, with 12 securities being active. 
The index closed 24.94 points higher at 2,181.35 as 5 stocks gained and 3 declined. A total of 1,483,101 units traded, valued at $7,313,357.
A total of 5 stocks closed with bids higher than their last selling prices and 1 ended with lower offers.
At the close, Access Financial Services lost 15 cents to close at $17.35, with 78,559 units changing hands, Caribbean Cream gained 49 cents with 238,866 shares changing hands to close at $7, Caribbean Flavours traded 13,002 units to end at $7. Caribbean Producers traded 10,000 shares and gained 1 cent to end at $3.26, 
Derrimon Trading rose 1 cent in trading 4,000 shares to end at $3.07, Honey Bun fell 3 cents with 400 shares changing hands and closed at $5.50. Iron Rock Insurance lost 7 cents in trading 610,529 shares to close at $3.18, Jamaican Teas rose 60 cents and traded 1,000 shares to close at $3.80, Lasco Distributors ended with 9.710 shares changing hands, but rose 40 cents to $7.40, Lasco Financial ended with 167,060 shares changing hands to close at $3.35. Lasco Manufacturing closed at $5 with 326,431 shares trading and tTech traded 23,544 units to end at $4.
Archives for July 2016
5 junior stocks gain 3 fall – Tuesday
Broilers trades 5m shares
The Jamaica stock market saw heavy trading in Jamaica Broilers Group with over 5 million shares with the bulk being crosses done by Scotia Investments.
The all Jamaica Composite Index fell 138.16 points to 176,289.78 the Jamaica Stock Exchange Market Index is down 123.54 points to 158,676.18, the Jamaica Stock Exchange combined index declined 170.79 point to close at 169,252.58 points andthe junior market index dropped 5.48 points to 2,150.93 with the jump in the price of Lasco Distributors.
Trading at 10:50 am resulted in only 27 securities changing hands, accounting for a volume of 7,009,625 shares, with 8 securities rising and only 12 falling. The average number of shares traded amounts to 259,616 compared to an average of 32,438 units on Monday.
Surplus FX jumps to US$94m
Net inflows of foreign exchange traded by authorized dealers, continue to build, with Monday’s net flows ended at the equivalent of US$11 million more foreign currency purchased than sold, bringing the surplus since the end of June to US$94 million. In Monday’s trading, dealers bought US$47,919,715 while they sold US$36,831,264, compared to US$40,933,781 purchased and US$38,774,308 sold on Friday of all currencies, as the value for the Jamaican dollar rose.
In US dollar trading, dealers bought just under US$10 million more in United States currency than they sold. They pulled in US$44,489,970 compared to US$37,244,686 on Friday. The buying rate for the US dollar fell 15 cents to $125.72. A total of US$34,967,119 was sold versus US$35,482,174 on Friday with the selling rate falling 7 cents to end at $126.38.
The Canadian dollar buying rate fell $2.06 to end at $92.97, with dealers buying C$1,878,218 and selling C$989,708, at an average rate that declined 36 cents to $95.59. The average rate for buying the British Pound climbed $1.07 to $162.60 for the purchase of £1,462,800, while only £500,300 was sold, with the rate falling 46 cents to $164.27.
At the end of trading, the selling rate for the Euro, rose 87 cents to close at J$139.68 from Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$137.24, for a rise of $2.99. The US dollar equivalent of other currencies traded amounts to US$149,061 being bought, while US$465,263 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Monday, include, a drop of $1.85 in the highest buying rate of the Canadian Dollar to $95.65, a rise of $1, in the lowest selling rate to $91 while trading in the British Pound resulted in a fall of $1.04 in the lowest buying rate to close at $131.97 and a drop of $1.40 in the highest selling rate to end at $171.72.
17 JSE stocks up 11 down – Monday
Proven Investments traded 2.5 million shares on Monday.
The JSE Market Index dipped 169.00 points to end at 158,799.72, the all Jamaica Composite Index lost 189.00 points to close at 176,427.94 and the JSE combined index fell 499.74 points, to end at 169,423.37.
The market closed another day of moderate trading, with 5,515,764 units valued at $120,438,402 changing hands, in all market segments, thanks to a 2.5 million trade in Proven Investments stock. The junior market accounted for 846,304 units traded valued at $4,791,506, of all trades.
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 3 with lower offers.
At the end of market activities, Cable & Wireless traded 110,078 shares to close with a rise of 3 cents at $1.17, Caribbean Cement gained $1 in trading 1,037,050 shares to close at $23, Carreras dropped $2 in exchanging 67,217 shares at $62.50. Trading in 1834 Investments, resulted in 347,716 shares changing hands to close with a gain of 14 cents at $1.20. Grace Kennedy closed at $123 after falling $2, with 1,100 units changing hands. Jamaica Broilers ended with 5,000 shares changing hands, to close with a rise of 22 cents at $14.74, Jamaica Producers traded 40,100 shares with a fall of 15 cents to $8.15, Jamaica Stock Exchange dipped $1 to end at $22 while trading 78,730 shares. JMMB Group traded only 5,000 units and gained 8 cents to end at $9.90, Kingston Wharves with 3,201 units changing hands, closed at $15.50. Portland JSX traded 1,015 shares to close at $12.90. 
Mayberry Investments fell 15 cents with 28,058 shares trading to close at $3, National Commercial Bank ended with 33,604 units changing hands, with the price rising 5 cents to close at $42, Pan Jamaican traded 4,100 shares and gained 90 cents to end at $24, Radio Jamaica gained 11 cents to close at $1.39 after 57,686 shares changed hands, Sagicor Group ended with 48,577 shares changing hands and gained 48 cents to $23, Sagicor Real Estate Fund traded 32,372 shares but rose 38 cents to close at $10.50, Scotia Group fell 80 cents in trading 59,985 shares to end at $30.20. Seprod traded 31,772 shares, to close at $17, Supreme Ventures traded 39,024 shares to end at $4.60, Proven Investments traded 2,527,640 units to close at 16 US cents for a fall of 0.95 US cents and Jamaica Money Market Brokers 7.50% preference share traded 104,545 units at $2.10.
7 junior stocks rise 3 fall – Monday
Junior market trading closed with a decline in the index on Monday with more stocks rising than falling, with 13 securities being active. 
The index closed 33.43 points lower at 2,156.41 as 7 stocks gained and 3 declined. A total of 846,304 units traded valued at $4,791,506.
A total of 3 stocks closed with bids higher than their last selling prices and 3 ended with lower offers.
At the close, Access Financial Services closed with a gain of 10 cents at $17.50, with 8,860 units changing hands, Caribbean Cream lost 39 cents with 27,595 shares changing hands to close at $6.51, Caribbean Flavours traded 14,698 units to end at $7 with a gain of 25 cents. Caribbean Producers traded 98,030 shares and gained 4 cents to end at $3.25, 
Consolidated Bakeries rose 5 cents in trading 20,000 shares to end at $2.05, Honey Bun with 47,000 shares changing hands, closed at $5.53. Key Insurance lost 10 cents in trading 66,862 shares to close at $2.50, KLE Group ended at $1.30 with 45,000 shares changing hands, Lasco Distributors ended with 456,259 shares changing hands, but fell 26 cents to $7. Lasco Financial ended with 2,800 shares changing hands and gained 10 cents to $3.35, Lasco Manufacturing closed with a gain of 10 cents at $5 with 58,200 shares trading and Eppley 10% preference share traded 1,000 units and gained 1 cents to end at $6.10.
5 TTSE stocks fall on Monday
The Trinidad and Tobago stock market closed on Monday with moderate trading, on a day when Trinidad Cement shed 10.7 percent of its value in reaction to lower profits in the June quarter as a result of falling revenues and non-recurring cost, while T&T NGL continued rising, sitting only 25 cents from the historical high. At the close the market indices inched higher as 10 securities traded resulting in 102,121 shares valued at $713,793 changing hands.
On a day when there were 5 declining stocks, 3 stocks gained and only 2 remained unchanged.
The Composite Index fell 2.56 points to close at 1,150.34, the All T&T Index slipped 2.85 points to close at 1,815.44 and the Cross Listed Index lost 0.31 at 64.57.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 7 stocks with bids higher than their last selling prices and 8 with offers that were lower.
Gains| Sagicor Financial Corporation gained 1 cent and closed with 23,650 shares changing hands at $7.01, Trinidad and Tobago NGL closed with 3,921 shares changing hands at $24.74 after gaining 1 cent and West Indian Tobacco rose 2 cents with 100 shares changing hands at $126.30.
Losses| Firstcaribbean International Bank traded 17,524 units changing hands and lost 9 cents, to close at $6.99, 
Massy Holdings ended with 20 shares changing hands to end with a loss of 2 cents at $56.70, Prestige Holdings traded 2,892 shares at and lost 5 cents to end at $10.90. Republic Financial Holdings traded only 108 shares but fell 2 cents to close at $109.98 and Trinidad Cement closed with a loss of 36 cents at $3 with 51,600 units trading.
Firm Trades| Angostura Holdings ended with 250 shares changing hands to close unchanged at $13.50 and Scotiabank contributed 2,056 shares to end at $55.
Slow start for JSE – Monday
The Jamaica stock market is off to slow start within 75 minutes of the opening of market on Monday. The stocks with the highest volume are 1834 Investments with 204,000 units 
with the price rising to $1.17 and Jamaica Money Market Brokers 7.50% preference share with 104,545 units at $2.10.
Caribbean Cement that sold off on Friday is now seeing strong demand with bids to buy over 400,000 units at $20 to $22.41, having closed on Friday with little demand at the end of trading. The stock traded up to $22.55 in the morning session.
The all Jamaica Composite Index fell 103.88 points to 176,513.06, the Jamaica Stock Exchange Market Index is down 92.89 points to 158,875.83, the Jamaica Stock Exchange combined index declined 129.12 point to close at 169,793.99 points andthe junior market index dropped 4.19 points to 2,185.65.
Trading at 10:45am resulted in only 14 securities changing hands, accounting for a volume of a mere 454,136 shares, with 6 securities rising and only 2 falling. The average number of shares traded amounts to 32,438 units.
Carib Cement bad news say buy
Jamaica’s sole cement manufacturing company Caribbean Cement, reported a fall in profit from $621 million in the June quarter of 2015 down to only $221 million and for the six months to June $1.05 billion versus $869 million.
Investors seemed to have focused more on the fall in the quarter than on the details of the results and the clear message sent by them. As a result, the stock was sold down to $19.25 from $23 the prior day, with very few buyers at the close, but investors who sold were making a bad decision. This is a classic case of bad news is indeed good news. For one, revenues climbed 9.6 percent in the quarter and 10.3 percent for the half-year but local sales of cement are up a very strong 27 percent. “Despite a reduction in export cement and clinker volumes by 8 percent and 77 percent respectively, total revenue increased by $777 million. This was mainly due to an increase in domestic cement volumes by 27 percent arising from increased projects and strong retail demand. Improvements in operational efficiencies, effective control of fixed costs, lower financing costs and lower energy costs, contributed to the improvement in earnings before interest, tax, depreciation, amortisation, manpower restructuring costs,” the directors’ report to shareholders stated.
Importantly, the cement company took a charge for manpower restructuring, amounting to $421 million, a huge positive development and augurs well for improved profit margin and increased profits going forward. In addition there is a charge for excess inventory amounting to $400 million, this is one off and therefore unlikely to recur. Stripped of these costs, earnings would be up by 63 percent to $1.16 million before tax compared to $708 million in 2015 that includes one off income of $168 million for the quarter and pretax profit of $2.1 billion versus $996 million in 2015.
Not only will the cost for redundancy not recur for the current set of staff being severed, it should results in savings in a year, in the region of the sum expended.
During the twelve months to June, the company repaid Trinidad Cement, its parent, loans and other debt $1.6 billion leaving only $556 million more to be paid. Cash funds were left at $788 million after more than $600 million was added to fixed assets since June 2015. At the pace profits are coming in the accumulated deficit of $4.6 billion will be wiped out in 2017.
IC Insider’s forecast for full years earning form normal operations is $4.75 which excludes the one off cost leaving the stock strongly in the buy column. The stock is listed on the main market of the Jamaica Stock exchange and closed at $22 on Friday.
2 big gains on TTSE on Friday
Scotiabank jumped 98 cents on the TTSE on Friday.
On a day when there were 3 declining stocks, 2 stocks gained and 8 remained unchanged.
The Composite Index rose by 1.57 points to close at 1,152.90, the All T&T Index gained 3.12 points to close at 1,818.29 and the Cross Listed Index remained at 64.88.
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.
Gains| Scotiabank contributed 2,503 shares and gained 98 cents to end at $55 and Trinidad and Tobago NGL closed with 22,113 shares valued at $546,803 changing hands at $24.74 after gaining 24 cents.
Losses| Guardian Holdings lost 6 cents while 24,093 shares changed hands, for a value of $304,540, to close at $12.64, National Enterprises closed with 66,945 units, having a value of $716,695, changing hands at $10.60, after falling 15 cents and ReadyMix after a long period of inactivity, finally traded on Friday with only 100 shares but fell $1.01 to end at a 52 weeks’ low of $13.
Firm Trades| Clico Investments traded 1,790 to close at $22.75, First Citizens Bank traded 100 shares to end at $35,
Massy Holdings ended with 400 shares changing hands for $56.73, National Commercial Bank ended with 300 shares changing hands to close at $2.60. National Flour traded 46,532 shares at $2.30, Prestige Holdings traded 2,337 shares at $10.95, Sagicor Financial Corporation closed with 4,639 shares changing hands at $7. Scotia Investments traded 13,362 shares, to end at $1.80, the equivalent of Jamaica $33.90 or 23 percent ahead of the price of $27.49, the stock last traded at in Jamaica and Trinidad cement closed at $3.36 with 1,415 units trading.
Surplus of FX up to US$83m
Net inflows into Jamaican foreign exchange market on Friday, ended with US$2 million more foreign currency purchased, than sold bought by dealers, bringing the surplus bought by them to US$83 million since the end of June. In Friday’s trading, dealers bought US$40,933,781 while they sold US$38,774,308, compared to US$29,816,964 purchased and US$38,116,490 sold on Thursday of all currencies, as the rate for the Jamaican dollar ended mixed against all major currencies.
In US dollar trading, dealers sold just under US$2 million less in United States currency than they bought. They hauled in US$37,244,686 compared to US$27,157,682 on Thursday. The buying rate for the US dollar rose 13 cents to $125.87.
A total of US$35,482,174 was sold versus US$36,075,776 on Thursday with the selling rate rising 7 cents to end at $126.45. The Canadian dollar buying rate fell 19 cents to end at $95.03, with dealers buying C$2,914,720 and selling C$2,769,620, at an average rate that declined $1.47 to $95.95. The average rate for buying the British Pound dipped $1.54 to $161.53 for the purchase of £808,896, while only £317,442 was sold, with the rate falling 77 cents to $164.73.
At the end of trading, the selling rate for Euro, declined by $3.07 to close at J$138.81 from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European 
common currency at J$134.25, for a rise of 88 cents. The US dollar equivalent of other currencies traded amounts to US$450,440 being bought, while US$776,955 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Friday, include, a drop of $2 in the lowest selling rate of the Canadian Dollar to $90, a fall of $1.50, in the highest buying rate of the British Pound to close at $165.50 and a drop of $3.70 in the lowest selling rate to end at $153.80.
