Archives for July 2017

An Inconvenient Sequel premiere postponed

July 27, 2017 by

Former vice president Al Gore promotes his new movie, a follow-up to his 2006 documentary, “An Inconvenient Truth.

The Palace Amusement Company wishes to apologise for the postponement of the Premiere of An Inconvenient Sequel: Truth to Power, scheduled by the Jamaica Environment Trust (JET) for July 27, 2017.
The company stated that they have been unable to secure the hard drive containing the film for reasons beyond their control. A new date is to be set when the films becomes available and all tickets for the premiere will remain valid.
The apology is extended to all stakeholders involved with the planning and execution of the premiere, as well as patrons who have purchased tickets. Palace regrets the inconvenience caused and appreciate your understanding those involved.
Al Gore has reemerged to continue his fight, traveling around the world to train an army of activists and influence international climate policy. Cameras follow him behind the scenes — in moments both private and public, funny and poignant — as he pursues the inspirational idea that while the stakes have never been higher, the perils of climate change can be overcome with human ingenuity and passion.

Filed Under: General News Tagged With: , ,

Sagicor Real Estate Fund Q2 profits drop

July 27, 2017 by

One of the Sagicor Real Estate Fund properties.

Sagicor Real Estate Fund’s profit attributable to shareholders dropped 53 percent to $246 million for the quarter ending June, this year, compared to the June 2016 of $522 million.
Profit for the six months period ending June ended at $785 million, 30 percent down on to the June 2016’s net profit of $1.124 billion
According to a release from the company, the major contributors of the reduction were that the 2016 second quarter results included $565 million in revaluation gain on the 26 acre Cinnamon Beach property with no property revaluation for 2017 but are scheduled for the second half of 2017 and increased interest cost of $115 million compared to the same period in 2016.

Filed Under: Street News & Views Tagged With:

Stationery Company to list early August

July 27, 2017 by

Stationery and Office Supplies that issued shares to the public on the 19th of July should be listed on the Junior Market of the Jamaica Stock Exchange on August 9, after the public holidays, subject to the listing committee meeting to approve same, IC Insider.com has been informed by a person close to the issue.
JN Fund Managers announced the method of allocation of the 52 million shares that were offered to the public. The issue attracted 1,216 applications for 241.722 million shares.
Shares allocated to SOS’ staff members were not applied for in full and resulted in 4,061,000 units being added to the general public pool with the staff picking up 8.439 million units.
The general public were all allotted the minimum of 5,000 units with the balance allocated on a pro rata basis taking into account the number of units applied for as a percentage of the total application pool in this category. JN Fund Managers’ clients were allotted up to 77,585 units of the shares applied for. Cheques for refunds should start going out as of Thursday, IC Insider.com was reliably informed.

Filed Under: Initial Public Offers, Street News & Views Tagged With: , , , , ,

Express Catering up 187% to Wednesday

July 26, 2017 by
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Ian Dear, Managing Director of Express Catering

Wednesday was the biggest day of trading in Express Catering since it listed last Friday on the Junior Market, the stock closed with an 89 cents rise to a record closing high of $4.30 with a massive 71,996,755 units trading out of a total of 73.5 million shares that traded in the market.
Express Catering’s stock price is up 187 percent from the IPO price of $1.50 so far, the stock closed with the bid at $4.30 to buy 303,034 units.
Trading on the Junior Market jumped sharply on Wednesday to 73,477,574 shares valued at $263,785,025 up from 35,527,220 shares valued at $124,668,100 traded on Tuesday. At the close, the market index rose 67.29 points to 3,096.22.
At the close 20 securities traded, down from 21 on Tuesday with 11 stocks gaining and 5 declining. Trading closed with 1 stock having a higher bid than the last traded price and 6 closing with lower offers.
The Junior Market ended trading with an average of 3,673,879 units for an average value of $13,189,251 compared to 1,691,772 units for an average value of $5,936,576 on Tuesday. The average volume and value for the month to date amounts to 571,639 units valued at $2,009,287 compared to 239,926 units valued at $680,321 previously. In contrast, June closed with averages of 395,969 units valued at $1,799,200 for each security traded.
At the close of the market, Access Financial Services closed at $46.50 in trading 33,936 units, Blue Power rose $6.90 after diving $11 on Monday and Tuesday, to close at $44.90 with only 200 units changing hands, CAC 2000 lost 20 cents with 10,007 shares trading to end at $6.50, Caribbean Cream fell 20 cents and closed trading with 112,288 units at $6.80, Caribbean Producers fell 25 cents to close trading with 19,172 units, at $3.15, Consolidated Bakeries ended with 32,020 units changing hands, to close at $2.62. Eppley closed trading with 9,500 shares at $13, General Accident added 6 cents and closed trading with 25,000 shares at $2.57, Honey Bun gained 55 cents with 2,149 shares changing hands and closed at $5.55, ISP Finance jumped $4 and closed with 5,424 units changing hands at $16, Jamaican Teas lost 25 cents in trading 67,099 shares to close at $4, Jetcon Corporation traded 59,800 shares to end at $4.70, after gaining 9 cents, Knutsford Express traded 6,200 shares to end at $15, Lasco Distributors closed 1 cent lower at $6.50 after trading 216,522 units, Lasco Financial rose 4 cents and ended with 176,765 shares changing hands at $3.60, Lasco Manufacturing grew 58 cents and ended with 646,045 shares trading at $4.89, Main Event gained 30 cents to close with 14,214 shares trading at $5.50, Medical Disposables closed at $5.50 with 42,656 units trading and Derrimon Trading preference share ended with 1,822 units changing hands to close at $2.50.

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

Big jump in JSE indices on Wednesday

July 26, 2017 by

The main market of the Jamaica Stock Exchange indices rose sharply at the close on Wednesday with the All Jamaica Composite Index advanced 3,380.75 points to close at 260,956.07, the JSE Market Index rose 3,080.24 points to 237,760.54 and the JSE US dollar market index gained 0.89 points to close at 189.89.
At the close of trading, 24 securities changed hands in the main market with 1 trading in the US dollar market, leading to 14 stocks advancing and 4 declining. The main market ended with 2,974,171 units valued at $46,072,557 changing hands compared to 2,850,716 units valued at $31,654,846 at the close on Tuesday. Trading in the US dollar market accounted for 123,899 units valued at US$30,025 bringing the total of all trades to J$49,915,700.
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 4 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 123,924 units valued at $1,919,690 for each security traded compared to an average of 105,582 units valued at $1,172,402. The average volume and value for the month to date ended at 116,886 units with an average value of $2,509,606 compared with an average of 116,472 units with an average value of $2,430,947 on the previous trading day. The average volume and value for June ended at 218,951 units with an average value of $3,871,959.
In market activity, Berger Paints gained 32 cents to close at $16 trading 10,359 shares, Cable and Wireless closed at $1.02, gaining 12 cents with 602,580 stock units swapping owners, Caribbean Cement traded $2.95 higher to close at $27.75 exchanging 723,700 shares after the company reported improved second quarter resilts, Carreras slid to $91.55, with a loss of $18.45 trading 2,525 units as this stock is now suffering from limited supply and with wholesale buying not at the higher level, Grace Kennedy closed at $41.99, with gains of 99 cents exchanging 78,085 shares. Jamaica Broilers closed at $18.50 by gaining 49 cents, with 111,591 shares trading, Jamaica Producers gained 10 cents, closing at $14.60 with 28,049 shares traded. Jamaica Stock Exchange lost 6 cents to close at $6.43 exchanging 4,032 shares, JMMB Group gained 50 cents, closing at $19.50, with 10,219 shares changing hands, Kingston Wharves traded $2.50 higher to $32.50, with 150,382 shares switching owners. Mayberry Investments closed at $4.55, with an exchange of 130,000 shares, NCB Financial Group traded $1.16 higher to $75.21, after exchanging 37,026 shares, 1834 Investments closed at $1.40 with trades of 11,205 shares, PanJam Investment closed with a loss of $2 to $31 trading 2,673 units, Proven Investments closed at $24.71 with 250,000 shares traded, Pulse Investments gained 17 cents to close at $2.49 with 34,547 shares changing owners, Radio Jamaica closed at $1.30, with gains of 5 cents trading 15,036 shares. Sagicor Group gained 50 cents, with an exchange of 26,433 shares, to close at $32, Sagicor Real Estate Fund declined 56 cents, closing at $10.64 exchanging 393,442 shares, Scotia Group gained $1.48 to close at $44.99, with trades of 2,270 shares, Seprod closed at $29.95, with gains of 20 cents exchanging 1,940 shares, Supreme Ventures traded 6,900 shares at $8, having gained 20 cents. Proven Investments US ordinary shares closed at 24 US cents trading 123,899 units, JMMB 7.5% preference share closed at $1.85, losing 15 cents exchanging 304,177 units and JMMB Group 7.5% preference share traded 37,000 units at $1.11.

 

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

BOJ forex auction clears at $128.26

July 26, 2017 by

Jamaica’s Central Bank head quarters Downtown Kingston


The exchange rate for the purchase on US$10 million on sale by Bank of Jamaica in its first official forex auction of US dollars, held on Wednesday, ended with an average of JS$128.26. The highest rate of a successful bid was J$128.30.
The rate contrast with the first auction done as a trial run, that was executed at an average rate of $128.76. Interestingly, the average selling rate that the US dollar was sold at on Wednesday in the interdealer forex market ended at an average of $128.2173 with the highest selling rate going at $147.60.
A total of 41 bids were received amounting to US$26.18 million and a total of 13 bids were accepted by the central bank. Bids are restricted to a maximum of 20 percent per institution for the amount offered with the minimum US$100,000. The highest accepted rate was $128.50 to purchase US$1,600,000. The lowest bid received was $128.30 that was partially allocated while the lowest bid fully allocated was $128.35 that purchased US$5,050,000.
Bank of Jamaica will make US$10 million dollars available to authorized dealers and eligible cambios by competitive bidding process each Wednesday, from Wednesday July 26 through Wednesday August 16, a total of US$40 million for the first four‐week period. The Bank will publish a report from each B‐BXITT operation on the same day, including the weighted average exchange rate arising from the operation.
The next forex intervention auction sale for US dollars is scheduled for Wednesday August 2, with settlement on Thursday August 3.

Filed Under: FX Market Tagged With: , , , ,

Witco and Republic dominates

July 26, 2017 by

Republic Financial Holdings was one of the big dollar trades on Wednesday on the TTSE.

Trading on the Trinidad & Tobago Stock Exchange on Wednesday resulted in 11 securities changing hands compared to 13 on Tuesday with 4 stocks rising, 1 falling and 6 remaining unchanged.
At the close, 283,405 shares were exchanged at a value of $21,769,873 compared to Tuesday’s trades of 221,508 valued at just $4,523,594. West Indian Tobacco dominated trading with $12.5 million worth of shares trading and Republic Holdings with $6.5 million.
The Composite Index fell 0.12 points to 1,208.53, the All T&T Index declined 0.18 points to 1,791.06 and the Cross Listed Index lost 0.01 points to 83.88. IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 3 stocks with bids higher than last selling prices and 5 with lower offers.
Gains| Angostura Holdings gained 9 cents, closing at $15.10 with 281 units trading, Scotiabank closed at $58.02, with gains of 2 cents exchanging 13,977 shares valued at $810,934, Trinidad & Tobago NGL advanced $1 to $23.50, with 28,798 shares changing hands valued at $661,818 and West Indian Tobacco gained 1 cent to close at $125.80 exchanging 99,643 shares valued at $12,535,017.
Losses| Massy Holdings closed at 52 weeks’ low of $49, dropping 96 cents trading 389 units.
Firm Trades| Clico Investment traded 50,922 shares at $22.39 valued at $1,136,058, after trading at a low of $22.30, First Citizens exchanged 100 units at $31.65, JMMB Group held firm at $1.20 with trades of 2,000 shares. Republic Financial Holdings closed at $101.90 exchanging 63,757 shares valued at $6,496,838, Sagicor Financial traded 749 units at $8 and Trinidad Cement closed at $4.14, with 22,789 shares switching owners.

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

J$ rose in value modestly – Wednesday

July 26, 2017 by

The value of the Jamaican dollar gained modestly in value against the US dollar on Wednesday with the selling rate for the US dollar ending at J$128.22 from J$128.29 previously. Dealers bought the US currency at an average of J$127.47 up from JS$127.14 on Tuesday.
Inflows into the Jamaican foreign exchange market dipped on Wednesday to US$43.8 million from US$46.3 million on Tuesday with outflows of US$28.4 million up from $47 million on Tuesday.
In USA dollar trading, inflows into the system ended at US$41.4 million on Wednesday versus US$38.3 million on Tuesday, with outflows of US$27.1 million compared to US$36.7 million.
The selling rate for the Canadian dollar declined to J$102.58 from J$104.94 at the close on Tuesday, while the British Pound was more costly at the close, with J$167.32 buying the British currency versus J$167.20 and the euro, fell in value against the Jamaican dollar, with it taking J$149.73 to buy the European common currency on, versus J$150.25 previously.

Filed Under: FX Market Tagged With: , , , , , , , , , ,

Trading picks up as 3 stocks rise 3 fall

July 26, 2017 by

Trading volume on the Trinidad & Tobago Stock Exchange on Tuesday rose from the abysmally low level on Monday but the value traded increased, resulting from 13 securities changing hands compared to 12 on Monday.
At the close, 3 stocks advanced, 3 declined and 7 held firm as 221,508 shares were exchanged at a value of $4,523,594 compared to Monday’s trading of 63,288 valued at $3,292,849.
The Composite Index gained 0.92 points to 1,208.65, the All T&T Index advanced 1.07 points to 1,791.24 and the Cross Listed Index rose 0.11 points to 83.89.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 3 stocks with bids higher than last selling prices and 4 with lower offers.
Gains| Grace Kennedy gained 1 cent to close at $2.80 in exchanging 31,635 shares, NCB Financial Group added 1 cent to close at a 52 weeks’ high of $4.08 trading 2,800 shares and Trinidad & Tobago NGL jumped 57 cents to $22.50, with 12,202 shares changing hands.
Losses| Massy Holdings closed at $49.96, with a 1 cent loss trading 1,765 shares, Scotiabank lost 2 cents, trading 268 units and West Indian Tobacco closed at a 52 weeks’ low of $125.79, losing 3 cents with 12,825 shares changing hands at a value of $1,613,257.
Firm Trades| Ansa McAL closed at $66, with an exchange of 467 shares, Clico Investment traded 66,126 shares at $22.39 valued at $1,478,393, First Citizens exchanged 3,683 shares at $31.65, JMMB Group remained at $1.20 with 78,707 shares traded. National Enterprises closed at $10.49 with 937 units switching owners, Republic Financial Holdings held firm at $101.90, trading 6,625 units valued at $675,088 and Sagicor Financial exchanged 3,468 shares at $8.

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

Carreras jumps $20 to $110 record high

July 25, 2017 by

Carreras climbed to a 52 weeks’ high of $110 on Tuesdaay.

In modest trading on main market of the Jamaica Stock Exchange ended with more stock declining than advancing but with a big jump in the price of Carreras by nearly $20 helping to drive the indices up at the close on Tuesday. At the close, 27 securities traded in the main market with 2 trading in the US dollar market, leading to 8 stocks advancing and 15 declining.
The All Jamaica Composite Index advanced 919.07 points to close at 257,575.32, the JSE Market Index gained 837.37 points to 234,680.30 and the JSE US dollar market index declined 12.17 points to close at 189.00.
The main market ended with 2,850,716 units valued at $31,654,846 changing hands compared to 1,923,682 units valued at $19,764,112 at the close on Monday. Trading in the US dollar market accounted for 282,881 units valued at US$87,908 bringing the total of all trades to J$42,907,126.
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 2 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 105,582 units valued at $1,172,402 for each security traded compared to an average of 96,184 units valued at $988,206. The average volume and value for the month to date ended at 116,472 units with an average value of $2,430,947 compared with an average of 117,153 units with an average value of $2,509,606 on the previous trading day. The average volume and value for June ended at 218,951 units with an average value of $3,871,959.
In market activity, Barita Investments traded 35 cents lower to close at $6.65 with 150 units changing hands, Berger Paints closed at $15.68 trading 8,710 shares, Cable and Wireless lost 4 cents, closing at 90 cents with 937,467 stock units switching owners, Caribbean Cement closed at $24.80, losing 90 cents exchanging 49,814 shares, Carreras skyrocketed to a new high of $110, with gains of $19.75 while trading 4,920 units, Grace Kennedy closed at $41, with a loss of 50 cents exchanging 29,034 shares. Jamaica Broilers closed at $18.01, with a loss of 49 cents while trading 256,628 shares, Jamaica Producers gained 35 cents, closing at $14.50 with 36,616 shares traded. Jamaica Stock Exchange closed at $6.49 exchanging 29,850 shares, JMMB Group lost 20 cents to close at $19, with trades of 38,014 shares, Kingston Properties gained 5 cents to close at $7.20 exchanging 3,282 shares, Kingston Wharves traded $1 higher to $30, with 250 units switching owners. Mayberry Investments closed at $4.55, with an exchange of 31,000 shares, NCB Financial Group traded 87 cents lower to $74.05, after exchanging 29,557 shares, PanJam Investment closed with gains of $1 to $33, trading 8,427 units, Portland JSX exchanged 300 units at $10, Proven Investments gained 4 cents, closing at $24.71 with 261,700 shares traded, Pulse Investments fell by 17 cents to $2.32 with 54,907 shares changing owners, Radio Jamaica lost 5 cents to close at $1.25, trading 179,023 shares. Sagicor Group dropped 49 cents, with an exchange of 89,872 shares, to close at $31.50. Scotia Group lost 49 cents, closing at $43.51 with 86,085 shares trading, Scotia Investments closed with gains of 89 cents to $36.99 trading 18,000 units, Seprod lost 20 cents, closing at $29.75 trading 1,490 shares, Sterling Investments closed at $14, with a loss of 5 cents trading 570 units, Supreme Ventures traded 592,150 shares at $7.80. Proven Investments US ordinary shares lost 0.02 US cents to close at 24 US cents trading 260,398 units, Jamaica Money Market Brokers 7.5% preference share closed at $2, losing 10 cents exchanging 100,000 units and JMMB Group US 6% preference share traded 22,483 units at US$1.12.

 

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