Archives for March 2017
Volume dips for juniors – Friday
After two days of high volumes traded by Lasco Manufacturing and Lasco Distributors, the junior market closed with less than 600,000 shares trading, compared to 12 million shares on Thursday and 13 million units on Wednesday.
At the close of trading the junior market index rose 29.39 points to end at 3,061.54. The Jamaica Stock Exchange reports gains of just 7.21 after reporting that the market closed at 3,032.15 points on Thursday. Market activity ended with in 19 securities trading, down from 23 on Thursday as 4 stocks rose and 6 declined. A total of 554,250 units valued at $3,004,928 passed through the market, compared to 12,255,673 units valued at $75,283,381 on Thursday.
The junior market ended trading with an average of 29,171 units for an average value of $158,154 traded, compared to 532,855 units for an average value of $3,273,190 on the previous trading day. The average volume and value for the month to date ended at 163,591 units and $1,582,454. On the immediate preceding trading day, the average volume and value for the month to date, were 171,993 units and $1,004,397. The average volume and value for February, ended at 223,938 units and $1,379,459.
Trading ended with only 3 stocks had bids higher than their last sale prices and 3 ended with lower offers, than the last sale.
At the close of the market on Friday, AMG Packaging closed at $5.69 with 24,829 units changing hands, Blue Power closed with 265 units changing hands at $36.50, Cargo Handlers ended trading with 150 shares at $21, Caribbean Cream closed trading with 10,000 units to end at $7.70, Caribbean Producers rose 2 cents in trading 31,033 units at $3.80, Consolidated Bakeries ended trading with a loss of 22 cents with 10,000 shares changing hands, to close at $3. Derrimon Trading lost 40 cents and ended at $8.60 with 16,083 shares changing hands, General Accident price declined by 1 cent to close trading with 29,000 shares at $3, Honey Bun gained 30 cents and closed with 21,323 shares changing hands at $6.50, ISP Finance had 4,584 units changing hands to close at $12.25, Jamaican Teas traded 32,302 shares and fell 65 cents to close at $7.85, Jetcon Corporation lost $1 and closed trading with 12,000 shares being exchanged, to end at $11, KLE Group ended at $3 with 40,416 shares changing hands, Lasco Distributors ended with 44,603 units trading at $7, Lasco Financial rose 20 cents with 14,682 shares changing hands, to end at $3.70, Lasco Manufacturing closed with 247,589 units changing hands at $5.08, Main Event closed at $4.51 with 3,000 shares changing hands, Paramount Trading had 11,471 shares changing hands, to close with a fall of 5 cents at $3.70 and tTech ended with 120 units changing hands at $7.01 after rising by a cent.
1 stock rise & 5 fall on TTSE
The market closed with 12 active securities compared to 18 on Thursday with 1 stock advancing, 5 declining and 6 holding firm. A total of 104,081 shares changed hands at a value of $6,914,298 compared to Thursday’s 610,096 shares valued at $3,541,855.
The Composite Index lost 0.91 points to 1,242.08, the All T&T Index fell 1.37 points to 1,827.95 and the Cross Listed Index was down 0.06 points to 87.99.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with 6 stocks with bids higher than last selling prices and 8 with lower offers.
Gains| Scotiabank closed at $59.01 with a 1 cent gain trading 226 shares.
Losses| Clico Investment traded at $22.50, losing 1 cent with 11,701 units changing hands, Guardian Holdings closed at $16, with a loss of 5 cents exchanging 17,669 shares, NCB Financial Group lost 2 cents with trades of 1,717 shares to close at $3.78, while Trinidad Cement was down 3 cents, closing at $4.17 with an exchange of 4,769 units and Trinidad & Tobago NGL closed 79 cents lower to $22.71 trading 3,362 shares.
Firm Trades| Angostura Holdings traded 1,000 units at $15.01, Guardian Media closed at $18.65 trading 3,224 units, JMMB Group held firm at $1.22 with 1,000 units changing owners, One Caribbean Media closed at $16.48 with an exchange of 1,505 shares. Sagicor Financial remained at $9.01 trading 10,200 units and West Indian Tobacco was unchanged at $127 trading 47,708 shares valued at $6,058,916.
2 Big Lasco trades again – Thursday
At the close of trading the junior market index lost only 3.94 points to end at 3,032.15 following activities in 23 securities traded up from 21 on Wednesday and ended with 4 rising and 6 falling. A total of 12,255,673 units valued at $75,283,381 passed through the market, compared to 113,332,019 units valued at $70,867,178 on Wednesday.
The junior market ended trading with an average of 532,855 units for an average value of $3,273,190 traded, compared to 634,858 units for an average value of $3,374,628 on the previous trading day. The average volume and value for the month to date ended at 171,993 units and $1,004,397. On the immediate preceding trading day, the average volume and value for the month to date, were 147,935 units and $853,144. The average volume and value for February, ended at 223,938 units and $1,379,459.
Trading ended with only 4 stocks had bids higher than their last sale prices and 6 ended with lower offers, than the last sale.
At the close of the market on Thursday, AMG Packaging closed at $5.69 with 8,921 units changing hands, Blue Power closed with 500 units changing hands at $36.50 after falling $1.50, CAC 2000 closed at $7.80 with 13,421 shares traded. Cargo Handlers ended trading with 24,141 shares at $21, Caribbean Cream closed trading with 10,000 units to end at $7.70, Caribbean Producers lost 7 cents in trading 2,792 units at $3.78, Derrimon Trading rose by 40 cents and ended at a new high of $9 with 1,406 shares changing hands, Dolphin Cove lost $1 to close trading with 57,240 shares, at $18, General Accident price rose 1 cent to close trading with 1,000 shares at $3.01, Honey Bun lost 80 cents and closed with 10,000 shares changing hands at $6.20, Iron Rock Insurance traded 15,581 shares to end at $3.10 after falling 15 cents, ISP Finance had 6,490 units changing hands to close at $12.25, Jamaican Teas traded 125,563 shares to close at $8.50, Jetcon Corporation closed trading with 18,629 shares being exchanged to end at $12, KLE Group ended at $3 with 6,000 shares changing hands after rising by 20 cents, Knutsford Express traded 598 units to close at $42, Lasco Distributors ended with 6,209,536 units trading at $7, Lasco Financial fell 69 cents with 9,462 shares changing hands, to end at $3.50, Lasco Manufacturing closed with 5,697,203 units changing hands at $5.08, Medical Disposables closed at $6 with 15,925 shares changing hands, Paramount Trading had 4,600 shares changing hands, to close with a rise of 20 cents at $3.75, tTech ended with 2,000 units changing hands at $7 and Derrimon Trading preference share ended with 14,665 units changing hands to close at $2.10.
2 Big Lasco trades on Wednesday
At the close 21 securities traded up from 25 on Tuesday and ended with 6 rising and 4 falling. A total of 13,332,019 units valued at $70,867,178 passed through the market, compared to 1,269,002 units valued at $8,895,061 on Tuesday.
The junior market ended trading with an average of 634,858 units for an average value of $3,374,628 traded, compared to 50,760 units for an average value of $355,802 on the previous trading day. The average volume and value for the month to date ended at 147,935 units and $853,144. On the immediate preceding trading day the average volume and value for the month to date, were 113,155 units with an average value of $673,038. The average volume and value for February, ended at 223,938 units and $1,379,459.
Trading ended with 3 stocks had bids higher than their last sale prices and 4 ended with lower offers, than the last sale.
At the close of the market on Tuesday, AMG Packaging fell by 1 cent and closed at $5.69 with 66,575 units changing hands, Blue Power closed with 911 units changing hands at $38 after gaining $1.40, CAC 2000 closed at $7.80 with 6,579 shares traded. Cargo Handlers ended trading with 5,000 shares at $21, Caribbean Cream closed trading with 29,400 units to end at $7.70, Caribbean Producers lost 25 cents in trading 6,771 units at $.85, Consolidated Bakeries ended trading with a gain of 2 cents with 167,245 shares changing hands, to close at $3.22. Derrimon Trading rose by 10 cents and ended at a new high of $8.60 with 9,866 shares changing hands, Dolphin Cove regained 99 cents it lost on Tuesday, to closed trading with 1,450 shares, at $19, General Accident price fell 25 cents to close trading with 3,500 shares at $3, Honey Bun closed with 7,915 shares changing hands at $7, ISP Finance had 6,096 units changing hands to close at $12.25, Jamaican Teas traded 10,160 shares to close at $8.50, Jetcon Corporation rose $1 and closed trading with 125,851 shares being exchanged to end at $12, Knutsford Express traded 1,173 units to close at $42, Lasco Distributors ended with 2,764,503 units trading at $7, Lasco Financial fell 5 cents with 3,258 shares changing hands, to end at $4.19, Lasco Manufacturing rose 38 cents and closed with 10,068,440 units changing hands at $5.08, Main Event had 43,992 shares changing hands, to close with a rise of 1 cent at $4.51, Medical Disposables closed at $6 with 11,000 shares changing hands, Sweet river traded just 1,000 shares at $3.50 and Derrimon Trading preference share ended with 1,200 units changing hands to close at $2.10.
1 stock falls in a day for gains
At the close of trading on the Trinidad & Tobago Stock Exchange all three indices recorded modest gains as 5 stocks advanced, 1 declined and 12 were unchanged.
Market activity resulted in 18 securities changing hands compared to 17 on Wednesday, leading to 610,096 units valued at $3,541,855 changing ownership, compared to Wednesday’s 193,335 shares valued at $2,067,973.
The Composite Index rose 1.17 points to 1,242.99, the All T&T Index gained 1.01 points to 1,829.32 and the Cross Listed Index was up 0.18 points to 88.05.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with 5 stocks with bids higher than last selling prices and 8 with lower offers.
Gains| Agostini’s added 1 cent to close at $18.51 with trades of 6,805 shares, Guardian Holdings closed at $16.05 with gains of 4 cents trading 5,405 units, NCB Financial Group gained 2 cents to close at $3.80 with an exchange of 95,364 shares valued at $362,282, Scotia Investments rose 5 cents to a 52 weeks’ high of $2.30 with 83,320 units changing hands and Trinidad & Tobago NGL advanced 60 cents, closing at $23.50 with 6,794 shares traded.
Losses| National Flour Mills lost 4 cents to close at $2.60 exchanging 330,107 shares valued at $858,278.
Firm Trades| Angostura Holdings traded 1,500 units at $15.01, Ansa Merchant Bank closed at $40 with 25,765 shares traded at a value of $1,030,608, Clico Investment closed at $22.51 with an exchange of 17,588 shares valued at $395,997 and First Caribbean International closed at $8.85 trading 1,200 units. JMMB Group held firm at $1.22 trading 21,959 units, Massy traded 200 shares at $53, One Caribbean Media closed at $16.48 trading 300 shares. Republic Financial Holdings exchanged just 20 units at $105.48, Sagicor Financial remained at $9.01 trading 10,000 units, Scotiabank closed at $59 with 2,616 shares changing hands, Trinidad Cement closed at $4.20 trading 1,103 units and West Indian Tobacco exchanged 50 shares at $127.
Only 4 price changes on Wednesday
The Trinidad & Tobago Stock Exchange closed on Wednesday with 18 securities changing hands up from 13 on Tuesday, with 193,335 shares valued at $2,067,973 in contrast to Tuesday’s 103,351 shares valued at $982,037, leading to 2 stocks advancing, 2 declining and 14 holding firm.
The Composite Index fell 1.10 points to 1,241.82, the All T&T Index declined 1.69 points to 1,828.31 and the Cross Listed Index lost 0.07 points to 87.87.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with 4 stocks with bids higher than last selling prices and 6 with lower offers.
Gains| Point Lisas gained 15 cents to close at $3.65 trading 1,300 shares and Trinidad & Tobago NGL advanced 26 cents, closing at $22.90 with 7,461 shares changing hands.
Losses| NCB Financial Group lost 1 cent to close at $3.78 with an exchange of 7,984 shares and Republic Financial Holdings closed at $105.48, for a loss of 51 cents with trades of 1,000 units.
Firm Trades| Stock trading with the last traded price unchanged are, Agostini’s trading 350 units at $18.50, Ansa Merchant Bank closing at $40 with 308 shares traded, Clico Investment that closed at $22.51 with an exchange of 13,800 shares valued at $310,652, First Citizens ended at $32 trading 184 units. Grace Kennedy traded 11,183 units at $2.66, Guardian Holdings was unchanged at $16.01 with 19,889 shares exchanged at a value of $318,429, JMMB Group held firm at $1.22 trading 78,729 units, Massy traded 1,800 shares at $53, National Enterprises closed at $10.88 with 8,931 shares changing owners. National Flour Mills traded 150 units at $2.64, Sagicor Financial held firm at $9.01 with an exchange of 30,000 units, Scotiabank exchanged 2,025 shares at $59, Trinidad Cement closed at $4.20 with trades of 5,307 units and West Indian Tobacco traded 2,934 shares valued at $372,618 at $127.
Cement developments
According to Anya Levy of ReMax Elite realtors, demand is extremely high for space to accommodate Business Outsourcing Operations as foreign operations fall in love with the opportunities Jamaica is offering. The problem she states, is that the demand is mostly for 30-60,000 square foot space that is currently is in short supply. In a number of cases, existing commercial space is being converted to meet demand. But it is not only in the commercial arena that there is demand she states.
There are lots of residential units coming on stream. The Millsborough area in Kingston, is slated she says for some major developments for Townhouses in the US$500-600,000 price range. More units are expected that will be similar to the high rise 20 South building going up on South Avenue in Kingston, with another slated to be constructed next door to it. The story does not end there, Levy states that a number of units to be built in the country largest city, will be slated for the short term rental market.
All of this means more demand for cement. Investors expect, the country’s sole cement plant to benefit from the surge in demand that is expected to flow form these new developments as well as the office complexes to be built by Grace Kennedy and the Ministry of foreign affairs in downtown Kingston. Added to the list is the build out of 5,000 hotel rooms in the western side of the island and the many other smaller developments that are planned or started. It may be more than all of that, Levy intimated that she understands that a price increase is on the cards for cement.
Investors are keeping keen eyes on the operations of Caribbean Cement, with great expectations for a major rise in the stock price in 2017 with the company having cut cost and expected to reap increased sales from increased demand in the local economy with increased exports also expected. Against this background the RMOD arm of the Jamaica Stock Exchange wrote to the Company formally on Thursday, March 9, 2017, requesting their response for the reasons of an increase in “contracted” lease payment to Trinidad Cement and the increase in raw materials and consumables costs that rose by 33 percent and seems out of line with the increase in the sales.
The 2015 accounts show that US$22,500,000 (J$2,700,675,000) was due in lease payments in 2016. At an exchange rate of $128.44:US$1 the amount expensed in 2016 was $3,323,635,000 or US$25,876,946. The amount seems to conflict with the reduction by US$22,500,000 of the remaining lease commitment outstanding from US$66,500,000 to US$44,000,000 at the end of 2016.
According to information provided to IC Insider.com, the company who had promised a response by March 20, now indicates that a response is drafted for sign off by management.
More losses for juniors on Tuesday
At the close 25 securities traded up from 17 on Monday and ended with 9 rising and 7 falling. A total of 1,269,002 units valued at $8,895,061 passed through the market, compared to 227,531 units valued at $1,357,774 on Monday.
The junior market ended trading with an average of 50,760 units for an average value of $355,802 traded, compared to 13,384 units for an average value of $79,869 on the previous trading day. The average volume and value for the month to date ended at 113,155 units and $673,038. On the immediate preceding trading day the average volume and value for the month to date, were 117,955 units with an average value of $697,441. The average volume and value for February, ended at 223,938 units and $1,379,459.
Trading ended with 3 stocks had bids higher than their last sale prices and 3 ended with lower offers, than the last sale.
At the close of the market on Tuesday, Access Financial ended trading at $34 with 5,300 units changing hands, AMG Packaging closed at $5.70 with 20,257 units changing hands, Blue Power closed with 150 units changing hands at $36.60 after falling 40 cents, CAC 2000 closed with a loss of 5 cents to end at $7.80 with 16,108 shares traded. Caribbean Cream closed trading with 1,800 units and lost 30 cents to end at $7.70, Caribbean Producers climbed 45 cents in trading 141,143 units at $4.10, Consolidated Bakeries ended trading with a gain of 20 cents with 22,000 shares changing hands, to close at $3.20. Derrimon Trading rose by 10 cents and ended at a new high of $8.60 with 9,866 shares changing hands, Dolphin Cove lost 99 cents and closed trading with 122,148 shares, at $18.01, General Accident closed trading with 67,000 shares at $3.25, Honey Bun closed with 16,849 shares changing hands to end at $7, ISP Finance had 13,189 units changing hands to close with a gain of 25 cents at a 52 weeks’ high $12.25, Jetcon Corporation closed trading a rise of 90 cents with 1,700 shares being exchanged to end at $11, Knutsford Express traded 5,990 units but lost 50 cents to close at $42, Lasco Distributors ended with 6,399 units trading at $7 after gaining 20 cents, Lasco Financial gained 1 cent with 25,000 shares changing hands, to end at $4.24, Lasco Manufacturing closed with 110,927 units changing hands at $4.70, Main Event had 15,004 shares changing hands, to close with a fall of 10 cents at $4.50, Medical Disposables closed at $6 with 1,000 shares changing hands and Paramount Trading lost 15 cents and ended with 61,750 units changing hands at $3.55. Tech ended with 17,912 units changing hands at $7 after rising by 95 cents, Derrimon Trading preference share ended with 2,665 units changing hands to close at $2.10 and Eppley 9.5% preference share, traded 500,000 units at $6.04.