Trading closed on the junior market with the number of advancing stocks being equal to decliners, the market index nevertheless advanced 27.26 points to 2,430.20, to be up 36 percent for the year to date.
Trading volume dipped 36 percent from Thursday’s levels, ending with 865,115 units changing hands, while value traded, fell 50 percent to $3,986,807 from $8,009,663 on Thursday.
An average of 57,674 units with an average value of $265,787 traded, compared to 71,599 units with an average value of $421,561 on the preceding trading day. An average for the month to date of 132,258 units at $732,545 traded.
At the close of the market on 15 securities traded, versus 19 on Thursday resulting in 5 stocks advancing and 5 declining stocks.
Market activities ended with 6 securities closing with bids higher than their last selling prices and 2 ending with lower offers.
CAC 2000 that faces a big legal they lost their appeal against a claim for damages closed without trading with an offer of $6 and the highest bid at $5.95 versus the last traded price of $6.30.
In trading activity, Caribbean Cream came in for increased buying with 103,144 shares changing hands at $7.25, to record a gain of 15 cent, up from 50,477 units that traded on Thursday. Caribbean Producers closed trading with 21,000 units at $3.65, Consolidated Bakeries gained 10 cents with 7,150 units changing hands to end at $2.60, General Accident closed trading with 122,356 units at $2.95. Honey Bun with 14,060 shares changing hands gained 35 cents and closed at $6. Iron Rock Insurance closed trading with 83,984 units at $3.30, Jetcon Corporation lost 1 cent and ended with 22,324 shares trading at $4.02, 
KLE Group lost 49 cents in trading 103,277 units to close at $1.30. Knutsford Express traded 2,163 shares in closing at $22.50, Lasco Distributors traded 10,180 units and declined by 14 cents to close at $6.85, Lasco Financial ended with 113,375 shares changing hands at $3.10, Lasco Manufacturing closed at $5 with 182,522 shares but traded as high as $5.39 during the day. Medical Disposables fell 13 cents to close at $5.49 with 49,550 shares changing hands, Paramount Trading rose $2 to close at $24 with 20,030 shares changing hands and Sweet River Abattoir with 10,000 units trading to end $3.50.
Archives for October 2016
JSE rise in early trading – Friday
As the close of October approaches, the prices of stocks seem to be firming up on the Jamaica Stock 
Exchange resulting in slightly more stocks rising than falling in the early trading session. Trading continues on moderate pace on Friday with all the market indices rising.
The all Jamaica Composite Index gained 440.70 points to 185,738.53, the Jamaica Stock Exchange Market Index grew 394.06 points to 167,125.05, the Jamaica Stock Exchange combined index climbed 664.11 points to close at 179,973.91 and the junior market index climbed 29.07 points to 2,432.01.
At 10:45 am, a total of 21 securities traded, resulting in a volume of 548,724 shares changing hands carrying a value of $3,478,798.
The average number of shares traded on Friday amounts to 26,130 units. Market activity resulted in 7 stocks falling while the prices of 8 securities rose.
In trading activity, Jamaica Producers gained 80 cents in trading 123,880 shares at $8.30, KLE Group fell from $1.79 to $1.30 with 102,077 shares, Lasco Financial Services traded 110,000 units at $3.10, Sagicor Real Estate X Fund has so far traded 56,372 shares at $10.20, Proven Investments 33,550 units at 19 US cents.
Jamaican stocks jump on Thursday
The main market indices of the Jamaica Stock Exchange made good gains on Thursday with the all Jamaica Composite Index jumping 1,628.18 points to 185,297.83. The JSE Market Index climbed 1,455.89 points to finish at 166,730.99 and the JSE combined index surged 1,567.18 points to end at 179,309.80 and gained at 12 percent for the year to date.
At the close 4,739,909 units valued at $93,941,257 changed hands, compared to 2,584,785 units valued at $33,734,659 changing hands on Wednesday. The junior market accounted for 1,360,374 units trading valued at $8,009,663 of the stocks traded.
The average trade for the day in the main market ended at 153,615 units, compared to an average for the month to date of 166,273 units. 
On Wednesday, an average of 77,761 units, compared to an average for the month to date of 178,931.
The market closed with 41 securities trading as the prices of 11 gained while 14 declined in the overall market, including 3 stocks rising and 10 falling, in the junior market.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading shows 15 stocks with bids higher than their last selling prices and 5 with lower offers.
In market activity, Cable & Wireless closed at 84 cents with 356,837 units trading, Caribbean Cement traded 20,374 shares and lost 5 cents to close at $32.05, Carreras closed at $66 with 2,850 units changing hands. 1834 Investments traded 389,087 units but rose 8 cents to end at $1.25, Grace Kennedy lost 40 cents and closed trading with 4,818 shares changing hands at $41.50, Jamaica Broilers lost 25 cents and closed at $14.25 with 40,253 shares switching owners. Jamaica Producers closed with a loss of 75 cents at $7.50 with 252,483 units trading, Jamaica Stock Exchange ended at $27.39 while trading 7,692 shares, 
JMMB Group gained 3 cents in trading 69,546 units to close at $13.25. Kingston Wharves traded 1,300 shares to close at $17, Mayberry Investments rose 10 cents and ended with 61,100 shares trading at $4.10, National Commercial Bank traded 1,592,552 shares to close with a rise of $1 at $44, Pan Jamaican Investments closed at $23 after trading 4,250 shares. Portland JSX traded 2,650 units with the price gaining 7 cents to $11.10, Radio Jamaica rose 10 cents in trading 15,000 units and to end at $1.50. Sagicor Group had 28,463 shares changing hands and gained 35 cents to close at $22.75, Scotia Group closed at $30.51 with 224,410 shares changing hands, Scotia Investments traded 27,450 shares to close at $30 after falling $1.04 cents and Supreme Ventures traded 268,500 units at $5.15 after rising 15 cents.
10 junior stocks fall 3 rise – Thursday
Lasco’s ICool drinks.
Trading volume jumped 89 percent from Wednesday’s levels, ending with 1,360,374 units changing hands, while value traded, climbed 66 percent to $8,009,663 from $4,825,236 on Wednesday.
An average of 71,599 units with an average value of $421,561 traded, compared to 44,908 units with an average value of $301,577 on the preceding trading day. An average for the month to date of 136,645 units at $760,002 traded.
At the close of the market on 19 securities traded, versus 16 on Wednesday resulting in just 3 stocks advancing and 10 declining stocks, with Key Insurance falling to a new low.
The market index climbed 21.12 points to 2,402.94 to be up 34 percent for the year to date.Market activities ended with 5 securities closing with bids higher than their last selling prices and 3 ending with lower offers.
CAC 2000 that faces a big legal they lost their appeal against a claim for damages closed without trading with an offer of $6.16 and the highest bid at $5.10 versus the last traded price of $6.30.
In trading activity, Access Financial Services traded 25,195 units at $20.50, Blue Power dropped $4.20 while trading 288 shares to close at $20.20 but closed with the bid at $24.40, Cargo Handlers lost $1 with 100,000 shares trading to close at $11, Caribbean Cream ended with 50,477 shares changing hands at $7.10. Caribbean Producers closed trading with 8,793 units at $3.65, Consolidated Bakeries had 51,701 units changing hands to end at $2.50, Dlophin Cove gained 29 cents to end at $12.50 with 2,480 shares changing hands, General Accident lost 5 cents and closed trading with 2,247 units at $2.95. Iron Rock Insurance rose 10 cents in trading 29,812 units to close at $3.30, Jamaican Teas fell 1 cent in trading 25,658 shares to close at $4,
Jetcon Corporation lost 12 cents and ended with 1,616 shares trading at $4.03, Key Insurance lost 23 cents in trading 5,924 units to close at a new low of $2. Knutsford Express traded 10,500 shares but lost 45 cents in closing at $22.50, Lasco Distributors traded 39,885 units and rose 24 cents to close at $6.99, Lasco Financial ended with 28,956 shares changing hands at $3.10, Lasco Manufacturing closed at $5 with 970,918 shares trading as investors responded strongly to improved second quarter results. Medical Disposables fell 13 cents to close at $5.49 with 810 shares changing hands, Paramount Trading dropped $2 to close at $22 with 4,114 shares changing hands, tTech lost 5 cents and ended with 1,000 shares changing hands at $4.95.
2 stocks rose 4 fell on TTSE – Thursday
Trading on the Trinidad and Tobago Exchange ended on Thursday with 10 securities changing hands, down from 14 that traded on Wednesday with 2 rising while 4 declined and 4 remained unchanged.
Trading activity closed with 258,550 shares valued at $1,392,416 changing hands, compared to 287,067 shares valued at $955,253 on Wednesday as 1 stock closed at a 52 weeks’ high.
The market closed with the the Composite Index rising 0.22 points to close at 1,171.33. The All T&T Index rose 1.04 points to 1,804.00, down 7.42 percent for 2016 and the Cross Listed Index fell 0.08 points to 71.89 points and is up 45.20 percent year to date.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 9 stocks with bids higher than their last selling prices and 8 with lower offers.
Gains| Angostura Holdings closed trading with 15,849 shares changing hands with a rise of 5 cents, to close at a 52 weeks’ high of $15 and National Enterprises gained 10 cents, in closing at $10.35 with 1,142 shares changing hands.
Losses| Clico Investment Fund closed with 15,250 shares changing hands to end at $22.59, for a 1 cent fall, Grace Kennedy contributed 109,000 shares to close at $2.55 after falling 5 cents. Prestige Holdings had 26,560 shares changing hands but lost 10 cents and closed at $11 and Trinidad and Tobago NGL fell 11 cents, to close at $23 with 3,749 units changing hands.
Firm Trades| JMMB Group closed at 85 cents with 85,950 units, switching ownership, Massy Holdings ended with 100 shares changing hands at $51.42, Scotiabank closed with 869 shares changing hands at $58.75 and West Indian Tobacco traded 81 shares to close $127.
4 stocks rose 5 fell on TTSE – Wednesday
Angostura Holdings climbed to a 52 weeks’ high on Wednesday.
Trading activity closed with 287,067 shares valued at $955,253 changing hands, compared to 571,256 shares valued at $5,404,483 on Tuesday as 1 stock closed at a 52 weeks’ high.
The market closed with the the Composite Index falling 1.15 points to close at 1,171.11. The All T&T Index closed with a loss of 2.48 points to 1,802.96, down 7.47 percent for 2016 and the Cross Listed Index rose 0.03 points to 71.97 points and is up 45.36 percent year to date.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 9 stocks with bids higher than their last selling prices and 7 with lower offers.
Gains| Angostura Holdings closed trading with 10,000 shares changing hands with a rise of 30 cents, to close at a 52 weeks’ high of $14.95, National Commercial Bank gained of 2 cents to close with 10,000 shares changing hands at $2.60. National Flour Mills ended trading with 50,000 shares after gaining 5 cents to close at $2.65 and Scotiabank gained 19 cents and closed with 2,131 shares changing hands at $58.75.
Losses| Grace Kennedy contributed 111,498 shares to close at $2.60 after falling 4 cents, Massy Holdings ended with 22 shares changing hands at $51.42 after losing 1 cent, Republic Financial Holdings dropped $1 and ended with 41 shares changing hands at $109. Trinidad and Tobago NGL closed at $23 with 2,000 units trading, after falling 54 cents and Trinidad Cement lost 3 cents in trading 2,010 units at $3.95.Firm Trades| JMMB Group closed at 85 cents with 93,294 units, switching ownership, Prestige Holdings with 687 units changing hands, ended at $11.10, Scotia Investments closed with 4,775 shares changing hands at $1.80 and West Indian Tobacco traded 609 shares to close $127.
Jamaican stocks gain on Wednesday
The main market indices of the Jamaica Stock Exchange made modest gains on Wednesday with the all Jamaica Composite Index rising 216.41 points to 183,669.65. The JSE Market Index climbed 193.50 points to finish at 165,275.10 and the JSE combined index rose 551.77 points to end at 177,742.62 and gained at 12 percent for the year to date.
At the close 2,584,785 units valued at $33,734,659 changed hands, compared to 5,164,481 units valued at $41,188,234 changing hands on Tuesday. The junior market accounted for 718,533 units trading valued at $4,825,236 of the stocks traded.
The average trade for the day in the main market ended at 77,761 units, compared to an average for the month to date of 178,931 units. On Tuesday, an average of 157,519 units, compared to an average for the month to date of 280,102.
The market closed with 40 securities trading as the prices of 11 gained while 14 declined in the overall market, including 5 stocks rising and 4 falling, in the junior market.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading shows 14 stocks with bids higher than their last selling prices and 7 with lower offers.
In market activity, Berger Paints traded 5,000 shares to end at $6, Cable & Wireless closed at 84 cents with 290,565 units trading, Caribbean Cement traded 40,741 shares and lost 40 cents to close at $32.10, Carreras closed at $66 with 820 units changing hands. 1834 Investments traded 26,836 units but lost 3 cents to end at $1.17, Grace Kennedy lost 5 cents and closed trading with 6,685 shares changing hands at $41.90, Jamaica Broilers closed at $14.50 with 419,751 shares switching owners. 
Jamaica Producers closed with a loss of 4 cents at $8.25 with 890 units trading, Jamaica Stock Exchange rose 44 cents and ended at $27.39 while trading 2,323 shares, JMMB Group lost 43 cents in trading 7,580 units to close at $13.22. Kingston Wharves traded 5,328 shares to close at $17, Mayberry Investments ended with 265,471 shares trading at $4, National Commercial Bank traded 14,975 shares to close with a decline of 49 cents at $43, Pan Jamaican Investments rose 45 cents to close at $23 after trading 15,199 shares. Portland JSX traded 1,500 units with the price falling 7 cents to $11.03, Radio Jamaica traded 111,388 units and fell 15 cents to end at $1.40. Sagicor Group had 12,768 shares changing hands and lost 15 cents to close at $22.40, Scotia Group rose 36 cents and closed at $30.51 with 388,287 shares changing hands and Proven Investments traded 245,840 units at 19.75 US cents after rising 0.25 cents.
LASCO Manufacturing profit jumps 45%
Profit jumped 45 percent to $363 million for the quarter ending September this year, from $250 million in the September 2015 quarter for LASCO Manufacturing from revenue of $2.2 billion, an increase of 29 percent over the 1st quarter, this year and 35 percent over the June quarter of 2015.
For the six months period ended September 2016, LASCO generated a net profit of $587 million, 18 percent above the previous year’s profit of $497 million.
Revenue increased 28 percent to September 2016 to $4 billion, over the same period last year resulting from increased production as part of the expansion of the manufacturing plant. Gross margin of $1.3 billion, was achieved compared to $1 billion, the previous year.
Expenses for the six months rose 23 percent to $585 million, compared to the same period last year, due mainly to increases in marketing and equipment maintenance expenses.
“Production at the Liquid Plant continues to grow steadily, and we will further increase our capacity to meet the market demand for our iCool line of beverages, by ramping up production with the installation of additional equipment by the end of the financial year. We continue to be optimistic and confident about the future for this product line with substantial profits to be realized” Robert Parkins, Managing Director, stated in a release with the results.
Perkins went on to say “The new Dry Plant at White Marl is now fully operational, and together with the existing Red Hills Road Dry Plant recorded an increase of 24 percent in profits over last year at the end of the 2nd quarter. New products will be introduced by the end of the year to enhance the product line which is projected to continue to realize significant sales and profits.”
“The Statement of Financial Position shows Property, Plant and Equipment moving from $3.5 billion, at the beginning of the financial year to $4.6 billion at the close of the 2nd quarter. This is due to approximately $1 billion, of assets associated with both the liquid and dry plants being transferred during the period from work in progress as a result of continuing commissioning of these operations.”
The company reported cash flows from operations of $1.5 billion including more than $600 million released from working capital of which $1.17 billion was spent on expanding the plant.
IC Insider is forecasting $1.8 billion in profit or 45 cents earnings for the full year to March next year and $3.7 billion or 90 cents per share for 2018. Lasco last traded at $5 on the junior market of Jamaica Stock Exchange.
Cargo Handlers gains 220% – Wednesday
Cargo Handlers traded at a new all-time high of $12 on Wednesday.
Trading volume dropped 48 percent from Tuesday’s levels, ending with 718,533 units changing hands, while value traded, fell 42 percent to $4,825,236 from $8,364,061 on Tuesday.
An average of 44,908 units with an average value of $301,577 traded, compared to 81,413 units with an average value of $492,004 on the preceding trading day. The average for the month to date, amounts to 140,710 units at $781,154.
At the close of the market on 16 securities traded, versus 17 on Tuesday resulting in 5 stocks advancing and 4 declining stocks as 1 stock closed a new high. The market index climbed 36.24 points to 2,381.82 to be up 33 percent for the year to date.Market activities ended with 4 securities closing with bids higher than their last selling prices and 5 ending with lower offers.
CAC 2000 that could being facing a $200 million legal claim pay out, failed to trade but ended with an offer of $6.16 compared to $5.36 on Tuesday versus the last traded price of $6.30.
In trading activity, AMG Packaging climbed $2.58 while trading 3,000 shares to close at $19.58, Blue Power lost 10 cents and ended at $24.40 with 9,700 units changing hands, Caribbean Cream ended with 12,750 shares changing hands at $7.10, Caribbean Flavours traded 2,670 units to end at $8.38. Caribbean Producers lost 10 cents in trading 9,550 units to end at $3.65, Consolidated Bakeries had 20,000 units changing hands to end at $2.50,
C2W Music traded 14,000 shares but fell 1 cent to 24 cents, Derrimon Trading ended at $4.60 with 25,000 shares changing hands, after rising by 60 cents. General Accident closed trading with 1,500 units at $3 but ended with the stock being offered at $2.99, Jetcon Corporation lost 5 cents and ended with 10,000 shares trading at $4.15, Lasco Distributors traded 178,472 units and rose 25 cents to close at $6.75, Lasco Financial ended with 40,310 shares changing hands at $3.10, Lasco Manufacturing rose 1 cent and closed at $5 with 193,398 shares trading but was on offer at $4.80 at the close. tTech ended with 9,420 shares changing hands at $5 and Eppley 10% preference share, traded 26,000 units at $6.10.
Modest gains in early JSE trading
Trading on the Jamaica Stock Exchange continues on moderate pace on Wednesday with all the market indices rising.
Trading volume and values declined from Tuesday’s level, with declining stocks beating out advancing ones nearly 2 to 1.
The all Jamaica Composite Index gained 42.86 points to 183,496.10, the Jamaica Stock Exchange Market Index grew 38.32 points to 165,119.92, the Jamaica Stock Exchange combined index climbed 373.23 points to close at 177,564.08 and the junior market index inched up 32.86 points to 2,378.44.
At 11:30 am, a total of 31 securities traded, resulting in a volume of 808,218 shares changing hands carrying a value of $4,193,655, compared to 1,521,635 shares changing hands carrying a value of $7,634,987, on Tuesday at 11 AM.
The average number of shares traded amounts to 26,072 units compared to 56,357 on Tuesday. Market activity resulted in 11 stocks falling while the prices of 8 securities rose.
In trading activity, Cargo Handlers traded 11,300 units at a new all-time high of $12, as the price rose $2, while Cable & Wireless gained 4 cents to 88 cents in trading 141,071 shares, Proven Investments traded 195,300 shares and Radio Jamaica traded 111,388 units.
