Archives for May 2017

Split coming for Pulse shares

May 4, 2017 by

Kingsley Cooper Chairman of Pulse

Pulse Investments’ directors propose to consider the splitting of the issued shares of the company into two units for each one currently issued. The Board Meeting is set to be held on Monday, May 22.
The resolution, if passed by the Board, would go to a General Meeting to be voted on by the shareholders of Pulse Investments. The company currently has 271,789,674 issued shares, the split would put the total up to 543,579,348 units.
The company’s stock last traded on the Jamaica Stock Exchange at $8.05 and carries a PE of 6 compared to 13 for the main market.
During 2016 the company passed a resolution agreeing to issue additional shares by way of a rights issue. From all indications, with the PE well below the general market the company must be awaiting a greater uptick in stock price before going back to shareholders for more funds.

Filed Under: Company News, General Business News Tagged With: , ,

Honey Bun’s profit down 12%

May 4, 2017 by

One Honey Bun’s Products.

Profit before taxes for the quarter was at Honey Bun fell 12 percent to $45 million, and for the six months to March profit fell 11 percent to $91 million from the prior year.
Profit after tax for the quarter was $40 million versus $49 million in 2016 and for year to date was $77 million compared with $95 million for the same period last year.

Filed Under: Street News & Views Tagged With:

New highs as juniors market rises

May 3, 2017 by

Knutsford Express jumped $4.99 to a new record high of $46.

Trading on the Junior Market of the Jamaica Stock Exchange ended with the market index rising and two securities hit new records. At the close 21 securities changed hands versus 19 on Tuesday and the market index rising 32.28 points to end at 3,263.15 with slightly less stocks closing higher than lower.
Advancing stocks were just less than declining stocks 8 to 10, with 1,708,218 units valued at $12,344,346 changing hands compared to 2,359,315 units valued at $15,986,987 on Tuesday. Trading ended with 11 stocks having bids higher than their last sale prices and 3 with lower offers.
The Junior Market ended trading with an average of 81,344 units for an average value of $587,826 traded, compared to 124,174 units for an average value of $841,420 on the previous trading day. The average volume and value for the month to date are 107,103 units and $786,736 while at the close of the prior day it was 119,982 units and $886,191. The average volume and value for April ended at 502,597 units and $2,768,003.
At the close of the market, Access Financial Services jumped $3.25 to close at an all-time high of $45 in trading traded 450 units, at the there was a block of 680,727 units offered for sales at$45 each. AMG Packaging climbed 5 cents and closed at $4.95 with just 3,353 units changing hands, Cargo Handlers lost 15 cents in trading 2,140 shares at $20.15, Caribbean Cream closed trading with 6,275 units and lost 15 cents to end at $7.85, Caribbean Flavours loss $2.40 in trading 8,725 units to end at $8.60. Caribbean Producers lost 3 cents trading 143,060 shares changing hands, to close at $3.72, General Accident lost 18 cents and closed trading with 30,045 shares at $3.32, Honey Bun gained 15 cents with 3,500 shares changing hands, to close at $7.70, ISP Finance ended at $18 with 24,471 units. Jamaican Teasrose 5 cents in trading 24,430 shares, to close at $4.85, Jetcon Corporation rose 20 cents and ended at $13.25 with 326,608 shares trading. Key Insurance lost 1 cent in trading 37,910 units to close at $3.89, Knutsford Express jumped $4.99 and traded 200 shares at a 52 weeks’ closing high of $46,Lasco Distributors ended with 500,029 units trading with a fall of 5 cents at $7.20, Lasco Financial fell 5 cents and ended with 199,629 shares changing hands at $4.55, Lasco Manufacturing fell 2 cents and closed at $5.48 while trading 77,707 shares, Main Event rose 31 cents and ended trading 9,400 shares, to end at $6.31, Medical Disposables ended at $6 with 16,700 units trading, Paramount Trading ended with 156,063 shares changing hands and lost 5 cents to $3.40, tTech ended with 4,405 units changing hands at $7.49 after rising 35 cents to $7.49 and Eppley 10% preference share, ended with 133,118 units changing hands at $6.50 after falling 30 cents.

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

Quiet day for Trinidad stocks

May 3, 2017 by
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The Trinidad & Tobago Stock Exchange remains in a consolidation mode with little movement in process and the indices. On Wednesday in 11 securities changed hands compared to 13 on Tuesday with Grace Kennedy as the dominant trade.
At the close, 1 stock advanced, 1 declined and 9 were unchanged as 496,027 shares were exchanged at a value of $2,056,193 compared to Tuesday’s 316,137 shares valued at $2,505,928.
The Composite Index gained 0.03 points to 1,220.83, the All T&T Index advanced 0.13 points to 1,801.08 and the Cross Listed Index slipped 0.01 points to close at 85.89.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with 6 stocks with bids higher than last selling prices and 3 with lower offers.
Gains| Massy Holdings gained 4 cents to close at $51.49 exchanging 3,536 units.
Losses| Sagicor Financial lost 1 cent to close at $9, with 45,000 units traded at a value of $405,018.
Firm Trades| Clico Investment closed at $22.52 with trades of 800 units, First Citizens exchanged 700 shares at $31.99, Grace Kennedy was unchanged at $2.76, with 377,719 shares changing owners valued at $1,042,504. Guardian Holdings closed at $15.51 with an exchange of 2,575 units, JMMB Group traded at $1.28, with 23,979 units, National Enterprises exchanged 23,110 units at $10.50. NCB Financial Group closed at $3.90 trading 17,987 units, Prestige Holdings closed at $11.01, with 20 units changing hands and Trinidad Cement held firm at $4.20 exchanging 601 units.

 

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

Government of Jamaica ends year in surplus

May 3, 2017 by

Minister of Finance Audley Shaw pulled in revenues ahead of target.

Government of Jamaica ended the 2017 fiscal year with a surplus that flowed from a near $9 billion over performance in operating inflows and a reduction in expenditure to the tune of $5 billion.
The fiscal operations ended with a deficit of $3.5 billion nearly $14 billion better than forecast. $14.6 billion from divestments proceeds pushed the fiscal operations into a surplus of $11 billion. Although ending with a surplus, government had net borrowings $14 billion as $26 billion more was borrowed in the local market and $11 billion net was repaid in foreign currency loans.
Overall, government collected $515 billion compared with $506 billion projected for the fiscal year, with spending coming in at $503 billion down from $508 billion projected. The primary surplus originally projected at $123 billion, ended $13 billion better at $136 billion.
Helping with the boost revenues was Corporations’ payment of 14 percent more tax on profits or $6.4 billion over budget, Special Consumption rose by $4 billion or 29 percent above forecast and stamp duty on local transactions climbed 15 percent or $1.7 billion over forecast. On the other hand telephone tax fell nearly 23 percent to $4.2 billion.

Filed Under: Economy, Feature Stories Tagged With:

Juniors down on second day of May

May 2, 2017 by

I$P hits a new high of $18 on Tuesday.

Trading on the Junior Market of the Jamaica Stock Exchange ended with 19 securities changing hands versus 15 on Monday and the market index falling 37.80 points to end at 3,230.87 but with nearly twice the number of stocks closing higher than lower.
At the close, advancing stocks were ahead of declining stocks 11 to 6 with 2,359,315 units valued at $15,986,987 changing hands compared to 1,736,843 valued at $13,964,419 on Monday. Trading ended with 10 stocks having bids higher than their last sale prices and none with lower offers.
The Junior Market ended trading with an average of 124,174 units for an average value of $841,420 traded, compared to 115,790 units for an average value of $930,961 on the previous trading day. The average volume and value for the month to date are 119,982 units and $886,191. The average volume and value for April ended at 502,597 units and $2,768,003.
At the close of the market, AMG Packaging climbed 87 cents and closed at $4.90 with just 2,655 units changing hands, CAC 2000 rose 10 cents in trading 300 shares at $7.30, Cargo Handlers lost 10 cents in trading 1,000 shares at $20.30, Caribbean Cream closed trading with 22,650 units and gained 40 cents to end at $8, Caribbean Flavours loss $1.50 in trading 7,400 units to end at $11. Caribbean Producers traded 102,302 shares changing hands, to close at $3.75, Derrimon Trading had 2,851 units changing hands to close with a gain of 630 cents at $8.50, Dolphin Cove lost 20 cents and closed trading with 5,100 shares at $20.80, Honey Bun gained 5 cents with 9,711 shares changing hands, to close at $7.55, ISP Finance climbed $1 to end at a 52 weeks’ closing high of $18 with 55,529 units. Jamaican Teas rose 5 cents in trading 137,555 shares, to close at $4.80, Jetcon Corporation rose 10 cents and ended at $13 with 20,675 shares trading, the stock closed with a bid of $13.20 following the release of the company’s annual report, that stated that revenue for the first quarter of 2017 is up 75 percent, with profit more than doubling that of the first quarter of 2016. Key Insurance lost 1 cent in trading 6,031 units to close at $3.89, Knutsford Express rose just 1 cent trading with 559 shares at $41.01, Lasco Distributors ended with 1,020,270 units trading with a rise of 5 cents at $7.25, Lasco Financial ended with 3,000 shares changing hands at $4.60, Lasco Manufacturing fell 20 cents and closed at $5.50 while trading 260,000 shares, Main Event fell 50 cents and ended trading 664,863 shares, to end at $6, Medical Disposables jumped 40 cents and ended at $6 with 36,864 units trading.

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

Jamaican stocks only winners on TTSE

May 2, 2017 by

JMMB Group 1 of 2 jamaican stocks to advance on the TTSE.

A mere 316,137 shares valued at $2,505,928 traded on the Trinidad & Tobago Stock Exchange on Tuesday, versus 1,141,204 shares valued at $11,232,310 on Monday.
The market closed with 13 securities changing hands compared to 14 on Monday with 2 stocks advancing, 5 declining and 6 holding firm.
The Composite Index declined 1.22 points to 1,220.80, the All T&T Index fell 0.12 points to 1,800.95 and the Cross Listed Index lost 0.32 points to close at 85.90.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with 5 stocks with bids higher than last selling prices and 3 with lower offers.
Gains| GraceKennedy gained 6 cents to close at $2.76, with an exchange of 137,900 units valued at $380,604 and JMMB Group closed at $1.28, with gains of 3 cents while trading 21,000 shares.
Losses| First Citizens lost 1 cent to close at $31.99, with 300 units changing hands, National Flour Mills closed at $2.50, losing 2 cents trading 5,125 shares, NCB Financial Group closed 9 cents lower to $3.90, with an exchange of 60,000 shares, Readymix closed at $11, with a loss of 6 cents exchanging 1,437 units and Republic Financial Holdings lost 1 cent to close at $101.99, with 10 units traded.
Firm Trades| First Caribbean International closed at $8 with 4,088 units being exchanged, One Caribbean Media closed at $16.85, with trades of 37,113 shares valued at $625,354 and Scotiabank held firm at $58.06 trading 4,540 shares. Trinidad Cement closed at $4.20 with 6,100 units changing owners, Trinidad & Tobago NGL traded at $22.50, with an exchange of 38,417 units valued at $864,348 and West Indian Tobacco exchanged 107 units at $127.

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

JSE stocks dropped on Monday

May 1, 2017 by

Trading in the main market of the Jamaica Stock Exchange closed on Monday with 25 securities changing hands with 2 trading in the US dollar market. At the close, 5 stocks advanced and 11 declined.
Trading levels in the main market ended at 6,543,059 units valued at $67,974,879 compared to 6,987,999 units valued at $137,346,087 on Friday. Trading in the US dollar market accounted for 1,702 units valued at US$998.
The All Jamaica Composite Index dropped 2,009.81 points to close at 251,986.09, the JSE Market Index dived 1,831.17 points to finish at 229,587.87 and the JSE US dollar market index remained at 219 points.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 7 stocks with bids higher than their last selling prices and 1 with a lower offer.
The main market ended trading with an average of 256,060 units valued at $2,718,995 per security traded, compared to an average of 258,815 units valued at $5,086,892 on Friday. The average volume and value for April ended at 382,748 units with an average value of $5,254,387.
In market activity, Berger Paints closed at $16 trading 38,142 shares, after trading at a 52 week’s intraday high of $16.90, Cable and Wireless closed at $1.35, gaining 4 cents with 181,062 shares changing hands, Caribbean Cement traded 1 cent higher at $26.01 with trades of 19,575 units. Carreras lost 61 cents to close at $76.89 exchanging 6,003 shares, Grace Kennedy closed at $43.90, losing 10 cents trading 13,475 units, Jamaica Broilers closed at $16.90, gaining 40 cents with an exchange of 9,318 shares, Jamaica Producers closed 15 cents lower at $17.50, exchanging 2,590 shares Jamaica Stock Exchange closed 31 cents lower to $7.20, with trades of 8,798 shares. JMMB Group closed at $20, after losing 88 cents and trading 49,704 units, Kingston Wharves closed at $31, with gains of 25 cents exchanging 19,100 units, Mayberry Investments closed at $4.60, with an exchange of 230,961 shares, NCB Financial Group traded at $70, gaining $2.50 with 116,119 shares changing hands, 1834 Investments lost 11 cents to close at $1.70, with an exchange of 49,071 shares, PanJam Investment closed 85 cents lower to $34.15 with trades of 671,027 shares. Portland Fund closed at $10 exchanging 22,987 shares, Pulse Investments closed at $8.05 with trades of 30,000 units, Radio Jamaica lost 1 cent to close at $1.67 exchanging 4,479,929 shares, Sagicor Group closed at $31, with a loss of $1.50 trading 84,800 shares, Scotia Group closed at $39.01, losing $2.99, with 388,894 units changing owners, Scotia Investments closed at $36.55, with a loss of $1.70 exchanging 116,579 shares, Seprod traded 1,810 units at $36, Sterling Investments closed at $17.01, with 570 shares exchanged, Supreme Ventures closed at $6.38 trading 100 shares. Proven Investments exchanged 1,093 ordinary shares at 30 US cents, Jamaica Money Market Brokers 7.5% preference share closed at $1.98 exchanging 2,000 units and Jamaica Public Service 9.5% preference share closed at $1,300 trading 445 units.

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

Juniors start May with new high

May 1, 2017 by

Trading on the Junior Market of the Jamaica Stock Exchange ended with only 15 securities changing hands versus 22 on Friday, the market ended at a record close of 3,256.31 points with gains of 12.36 points.
At the close, advancing stocks just edged out declining stocks 7 to 6 with 1,736,843 valued at $13,964,419 changing hands compared to 1,069,397 valued at $6,595,548 on Friday. Trading ended with 12 stocks having bids higher than their last sale prices and 2 ending with lower offers.
The Junior Market ended trading with an average of 115,790 units for an average value of $930,961 traded, compared to 48,609 units for an average value of $299,798 on the previous trading day. The average volume and value for April was 502,597 units and $2,768,003.
At the close of the market, AMG Packaging dropped 96 cents and closed at $4.03 with 12,214 units changing hands, Cargo Handlers rose 30 cents in trading 1,035 shares at $20.40, Caribbean Cream closed trading with 71,347 units and gained 4 cents to end at $7.60, Consolidated Bakeries lost 20 cents and traded 29,255 shares changing hands, to close at $3. C2W Music had 4,000 units changing hands to close with a gain of 6 cents at 43 cents. General Accident gained 20 cents and closed trading with 9,500 shares at $3.50, Honey Bun fell 5 cents with just 700 shares changing hands, to close at $7.50, Jamaican Teas traded 140,445 shares, to close at $4.75, Jetcon Corporation rose 20 cents and ended at $12.90 with 347,000 shares trading, Key Insurance lost 5 cents in trading 1,000 units to close at $3.90 Lasco Distributors ended with 1,079,130 units trading at with a loss of 30 cents at $7.20, Lasco Financial ended with 6,300 shares changing hands at $4.60, Lasco Manufacturing rose 10 cents and closed at $5.70 while trading 7,550 shares, Main Event rose 50 cents and ended trading 17,445 shares, to end at a closing 52 weeks’ high of $6.50, Paramount Trading jumped 45 cents and ended at $3.45 with 1,300 units trading and tTech ended with 12,622 units changing hands at $7.10 after falling 35 cents.

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

Sagicor dominates trading on TTSE

May 1, 2017 by

Sagicor dominated trading on the TTSE on Monday.

Market activity on the Trinidad & Tobago Stock Exchange on Monday saw increased volume over Friday’s level but with the value being lower. Sagicor Financial traded the largest volume of shares and 75 percent of the market value.
At the close, 4 stocks advanced, 2 declined and 8 were unchanged. A total of 1,141,204 shares were exchanged at a value of $11,232,310 compared to Friday’s 607,866 shares valued at $22,247,214.
The Composite Index fell 0.85 points to 1,222.02, the All T&T Index gained 0.16 points to 1,801.07 and the Cross Listed Index lost 0.26 points to close at 86.22.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with 7 stocks with bids higher than last selling prices and 3 with lower offers.
Gains| Agostini’s gained 1 cent to close at $18.51 trading 800 units, Guardian Holdings closed at $15.51, with gains of 7 cents exchanging 23,881 shares valued at $370,158, Sagicor Financial gained 1 cent to close at $9.01 with trades of 941,250 shares valued at $8,480,663 and Trinidad & Tobago NGL closed at $22.50, gaining 1 cent, with 62,639 units changing hands valued at $1,408,546.
Losses| Calypso Macro Index Fund lost 38 cents to close at a 52 weeks’ low of $21.50, exchanging 300 units, Scotia Investments traded 5 cents lower to close at $2.70, with 93,463 units changing hands.
Firm Trades| Ansa Merchant Bank closed at $40 with 856 units traded, Clico Investment closed at $22.52 with trades of 1,126 shares,First Caribbean International closed at $8, trading 1,000 shares, JMMB Group traded 1,000 shares at $1.25. National Flour Mills closed at $2.52, with an exchange of 1,000 shares, Prestige Holdings closed at $11.01 with 35 units changing owners, Scotiabank remained at $58.06 while trading 10,555 units valued at $612,823 and Trinidad Cement exchanged 3,299 units at $4.20.

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