The Jamaica Stock Exchange all Jamaica Composite Index jumped nearly 2,500 points in early trading on Thursday to sit less than 840 points from the 210,000 points level while the junior market rose above Wednesday’s record close as the market enjoy a strong finish to 2016.
Market activity resulted in 28 securities traded at 10:45 am, compared to 26 on Wednesday at 10:45 am. A total of 10 securities advanced and 6 declined, resulting in a volume of just 463,915 shares changing hands, carrying a value of $3,009,378, compared 721,003 shares changing hands, carrying a value of $1,962,803 on Wednesday. The average number of shares traded, amount to 16,568 units versus 27,731 units on Wednesday. The leading trades include Lasco Manufacturing with 200,000 units changing hands at $5 and Cable & Wireless has so far traded 150,000 units at 71 cents.
The all Jamaica Composite Index surged 2,311.10 points to a record 209,062.06, the Jamaica Stock Exchange Market Index jumped 2,066.54 points to an all-time high of 191,313.23, the Jamaica Stock Exchange combined index 1,983.88 points to a record high of 203,927.04 and the junior market index rose 6.57 to 2,580.12.
Archives for December 2016
December’s FX surplus builds to $162M
In foreign exchange trading on Wednesday after the market closed for the long holiday period, net inflow was again positive with US$18 million, bringing the net inflows for December to $162 million with the Jamaican dollar gaining in value against the Canadian dollar and the pound, slipping slightly versus the US and down against the euro.
At the close of the market, dealers bought the equivalent of US$65,090,524 of all currencies and sold US $47,042,348, compared to US$46,079,393 purchased and US$34,359,179 sold on Friday.
In US dollar trading, dealers bought US$55,315,886 compared to US$39,993,301 on Friday. The buying rate for the US dollar fell 27 cents to close at $127.31. A total of US$38,694,334 was sold versus US$29,111,300 on Friday, with the selling rate inching up 1 cent to $128.34. The Canadian dollar buying rate fell 49 cents to $94, with dealers buying C$9,075,794 and selling C$8,755,639 at an average rate that fell 11 cents to finish at $95.25. The average rate for buying the British Pound dropped 33 cents to $154.76 for the purchase of £1,903,806 while £934,004 was sold with a fall of $1.06 to end at $156.56.
At the end of trading on Wednesday, dealers sold €547,303 with the selling rate for the Euro, closing with a rise of $2.80 to $136.45, according to data from Bank of Jamaica. Dealers purchased €612,472 of the European common currency at $130.92 after adding $1.71 cents. The US dollar equivalent of other currencies traded, amounts to US$129,105 being bought and selling of US$128,832.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded foreign currencies on Wednesday, include a fall of $16.67 in the lowest selling rate of the US dollar to $103.33. The highest selling rate for the Canadian dollar fell $1.08 to end at $98.82. The highest buying rate for the British Pound lost $1.23 to $158.74, the lowest buying rate fell $1.25 to $126.99, the highest selling rate climbed $3.34 to $165.24, the highest buying rate for the Euro dropped $2.47 to $123.80 and the lowest selling rate dived $19.94 to $108.06.
6 stocks rise on TTSE – Wednesday
The Composite Index rose 2.04 points to 1,206.16, the All T&T Index gained 1.11 points to 1,832.67 with a year to date loss at 5.94 percent. The Cross Listed Index advanced by 0.40 to end at 77.46 points with year to date gains of 56.45 percent.
IC bid-offer Indicator |The Investor’s Choice bid-offer ended with 4 stocks with bids higher than last selling prices and 5 with lower offers.
Gains| Clico Investments Fund traded 2,000 units at $22.61 after adding 1 cent, First Citizens Bank had 5,214 units trading with a gain of 44 cents to end at $34.99, National Commercial Bank traded 145,444 units valued at $421,788 and gained 3 cents to end at $2.90. Sagicor Financial Corporation gained 7 cents to end at a 52 weeks’ high of $7.73 with 800 shares changing hands, Scotiabank gained 7 cents in trading 8,737 shares at $58.85 and Trinidad Cement traded 10,220 units with a rise of 10 cents to close at a 52 weeks’ high of $4.35.
Losses| Republic Financial Holdings with a volume of 8,193 shares valued at $888,448 being traded, closed with a loss of 1 cent at $108.44 and Trinidad and Tobago NGL fell 25 cents, in trading 6,476 shares at $21.
Firm Trades | Guardian Holdings traded 12,558 units to close at $12.65, JMMB Group traded 101,000 units to end at 89 cents, Massy Holdings contributed just 91 shares to end at $52 and LJ Williams ended with 17,300 B shares trading at 66 cents.
Venezuelan stocks lead with 95% in 2016
With just one week from the close of 2016, Venezuela Caracas Stock Exchange leads the world’s stock markets with year to date of 94.94 percent in the market Index, according to data reported on Bloomberg website.
Peru S&P/BVL LIMA 25 Index is next, with year to date return of 81.80 percent, Kazakhstan Stock Exchange Index KASE gained 57.16 percent up to Friday, December 23, while the return for S&P/BVL Peru General Index is up 56.71 percent. Jamaica Stock Exchange JSE index that topped the world in 2015, trails well behind the 2016 leaders with gain of just 20.8 percent year to date.
While the Venezuela stock market may record the highest gains in local currency for 2016, with inflation according to financial news network CNBC expected to hit 700 percent for 2016, the market may well end up being one of the worse performing.
2 stocks fell none rise on TTSE – Friday
Trading on the Trinidad & Tobago Stock Exchange on Friday resulted in 7 securities changing hands compared to 9 on Thursday. Market activity ended with no stock rising, 3 declining and 5 holding firm, with 414,785 shares being traded valued at $1,433,699 compared to 435,352 shares being traded valued at $9,756,871 on Thursday.
The Composite Index fell 1.56 points to 1,204.12, the All T&T Index lost 2.09 points to 1,831.56 with a year to date loss at 6 percent. The Cross Listed Index declined by 0.14 to end at 77.06 points with year to date gains of 55.65 percent.
IC bid-offer Indicator |The Investor’s Choice bid-offer ended with 7 stocks with bids higher than last selling prices and 7 with lower offers.
Losses| Angostura Holdings lost 50 cents with 36,443 shares valued at $546,651 closing at $15 and JMMB Group lost 3 cents in trading 353,350 units valued at $304,612 to end at 86 cents.
Firm Trades | FirstCaribbean International Bank ended with 3,500 shares being exchanged at $8.50, Guardian Holdings traded 3,782 units to close at $12.65, Massy Holdings contributed 9,199 shares valued at $478,348 to end at $52, National Commercial Bank traded 8,474 units at $2.87 and Scotiabank trades just 37 shares at $58.78.