Archives for August 2017

Major end of month JSE moves

August 31, 2017 by IC Insider.com

Supreme Ventures closed at record high of $12 on Thursday.

In an active day of market activities, 29 securities traded with Scotia Group hitting a record high of $50 ahead of the third quarter results due for release within a week and Supreme Ventures (SVL) closed at a high of $12 on the Jamaica Stock Exchange
Investors continue to respond positively to SVL half year results that rose 41 percent but Sterling Investments dropped to a 52 weeks’ low of $12.75.
Elsewhere in the main market overvalued Jamaica Producers traded 1,082,752 shares to close at $15.99 after adding 5 cents and 138 Student Living gained 30 cents to close at $5.45 with 1,589,048 shares. Productive Business Solutions that went to the public to raise fresh capital had the US dollar ordinary shares and the preference shares were listed at the start of the day but there was no trading in them.

PBS shares were listed on Thursday.

At the close of the market, the volume of securities trading and their last traded price are, Barita Investments with a loss of 95 cents, closed at $8.05 with 20,000 shares, with investors interest wanes pending the announcement of the offer to acquire to acquire majority shares. Berger Paints closed $2.70 lower to $13.10 with 99,115 shares, after the new majority owner released an underwhelming of $10.88 before trading cost, to acquire the minority shares. Cable and Wireless closed at $1 with 415,972 shares, Caribbean Cement traded $2 lower to $27 with 33,000 shares, Carreras shed 50 cents to $108 with 50,214 shares, Grace Kennedy added 48 cents to close at $41.98 with 21,669 shares. Jamaica Broilers gained 80 cents, to end at $19 with 132,533 shares, Jamaica Stock Exchange dipped 50 cents to $5.85, with 16,413 shares, JMMB Group rose 5 cents and closed at $21 with 64,023 shares. Kingston Properties closed at $7.20, in losing 30 cents with 12,000 shares,Kingston Wharves traded $1.15 lower to $30.85 with 16,437 stock units, Mayberry Investments lost 10 cents, in closing at $4.50 with 121,180 shares, NCB Financial Group climbed $1.44 to close at $88.99 with 215,240 shares, 1834 Investments exchanged 1,200 shares at $1.30, PanJam Investment ended with a loss of $2.49 at $32.01 with 44,860 shares.

Pulse Investments gained 4 cents, closing at $1.99 with 4,826 shares, Radio Jamaica closed at $1.22 with 1,000 shares, Sagicor Group closed at $31.80 with gains of 20 cents trading 44,472 units, Sagicor Real Estate fund ended at $12.05, after gaining 5 cents with 500 shares, Salada Foods dropped $2 to $8 with 100,000 shares, Scotia Group advanced $3 to $50 with 75,994 shares, Scotia Investments eased 1 cent to $35.50 with 200 shares, Seprod traded 2,500 shares at $33, Sterling Investments declined $1.25 to $12.75 with 2,000 shares, Supreme Ventures closed at $12, gaining $1.01 with 114,906 shares. Margaritaville Turks US ordinary shares closed at 30 US cents with 1,000 units, Proven Investments US ordinary shares closed at 24 US cents with 51,749 units, Jamaica Money Market Brokers 7.5% preference share with gains of 15 cents, closed at $2 with 745,140 units and Proven 8.25% cumulative redeemable preference share gained 40 cents to close at $5.50 with 21,000 units.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: 138 Student Living, 1834 Investments, Barita Investments, Berger Paints, Cable and Wireless, Caribbean Cement, Carreras, Daily Trading, Emerging markets, Grace Kennedy, Jamaica Broilers, Jamaica Money Market Brokers, Jamaica Producers, Jamaica Stock Exchange, Jamaican stocks, JMMB Group, Kingston Properties, Kingston Wharves, Margaritaville Turks, Mayberry Investments, NCB Financial Group, PANJAM Investment, Productive Business Solutions, Proven, Proven Investments, Pulse Investments, Radio Jamaica, Sagicor Group, Sagicor Real Estate Fund, Salada Foods, Scotia Group, Scotia Investments, Seprod, Sterling Investments, Supreme Ventures, Trading Activity

Jamaica’s forex inflows jump – Thursday

August 31, 2017 by IC Insider.com

Trading in the Jamaican foreign exchange market on Thursday resulted in a big surge in the amounts purchased and sold by dealers and a fall in the value of the local currency against the US dollar.
Trading ended with inflows of US$83.06 million compared to US$45.12 million on Wednesday. Outflows amounted to only US$59.28 million compared to US$45.80 million of all currencies on the prior trading day. Inflows for August ended at US$955 million up from US$939 million in July while outflows were almost the same in both months at US$751 million versus US$750 million in July. Interestingly while inflows for June was in the order of August and July at US$939 million outflows were far higher at US$872 million.
At the end of trading the US dollar was sold rate of J$129.65 from J$129.33 previously, even as inflows rose sharply over Wednesday’s intake. Dealers bought the US currency at an average of J$128.87 versus J$128.16 on Wednesday.
In USA dollar trading, inflows ended at US$76.39 million versus US$39.70 million on Wednesday with outflows of US$53.52 million compared to US$37.91 million.
The selling rate for the Canadian dollar rose to J$103.77 from J$103.71 at the close on Wednesday while the British Pound was less costly, with J$165.72 buying the British currency versus J$167.53 and the euro, lost value against the Jamaican dollar, with it taking J$153.55 to buy the European common currency, versus J$157.24 previously.

Filed Under: Economy, FX Market Tagged With: Bank Of Jamaica, BOJ, British Pound, Canadian dollar, Daily trading activity, Emerging market, euro, euro v J$, FX trading, jamaican dollar, US Dollar

Sharp movement in some JSE stocks

August 31, 2017 by IC Insider.com

Scotia Group closed at a new high of $50 on Thursday.

Scotia Group jumped $3 to hit an all-time high of $50 and Supreme Ventures hit a new high of $12 but the movements were inadequate to prevent to market index of the Jamaica Stock Exchange from slipping at the close on Thursday.
Sterling Investments dropped to a 52 weeks’ low of $12.75 while Investors sold Berger Paints shares down to $13 on Thursday from $15.80 close on Wednesday with a low offer by the Ansa McAl group of $10.88 per share, to buy out the minority shareholders.
Productive Business Solutions that went to the public to raise fresh capital had the US dollar ordinary shares and the preference shares were listed at the start of the day but there was no trading in them.
The All Jamaica Composite Index declined 252.73 points to close at 280,557.39, the JSE Market Index gained 230.27 points to 255,619.55 and the JSE US dollar market index rose 3.69 points to 182.58.
At the close of trading, 29 securities changed hands in the main market with 2 trading in the US dollar market, leading to 14 stocks advancing and 11 declining. The main market ended with 5,056,094 units valued at $68,305,370 changing hands compared to 4,844,593 units valued at $284,429,479 at the close on Wednesday. Trading in the US dollar market accounted for 52,749 units valued at US$12,720 bringing the total of all trades to J$69,946,219.
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 8 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 174,348 units valued at $2,355,358 for each security traded compared to an average of 210,634 units valued at $12,366,499. The average volume and value for the month to date ended at $184,094 units with an average value of $4,336,090 compared with an average of 184,581 units with an average value of $4,435,127 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: Ansa Mcal, Berger Paints, Daily Trading, Jamaica Stock Exchange, Jamaican Stock, Scotia, Scotia Group, Supreme Ventures, Trading Activity

Junior Market inches higher

August 31, 2017 by IC Insider.com

Add your HTML code here...

Trading on the Junior Market of the Jamaica Stock Exchange concluded trading on Thursday with 20 securities changing hands, 6 advanced, 9 declined and 5 traded firm leading to the index rising 5.60 points to 3,098.90.
A total of 1,911,988 units valued at $7,957,391 changed hands, compared to 2,037,393 units valued at $8,042,723 on Wednesday. Trading ended with an average of 95,599 units for an average of $397,870 in contrast to 88,582 units for an average of $349,684 on Wednesday. The average volume and value for the month to date amounts to 234,437 units valued at $1,295,260, compared to 241,379 units at an average value of $1,336,050 previously. In contrast, July closed with average of 536,395 units at $1,905,441 for each security traded. Trading ended with the market sentiments looking more positive for Friday activity than for recent days as 8 stocks ended with bids higher than their last selling prices and 2 with lower offers.
At the close of the market, the volume of stocks trading and their last traded price are: Access Financial that finished $2 higher at $49 with 1,465 units, AMG Packaging closing 3 cents higher at $3.48 with 40,200 stock units, C2W Music concluded with a loss of 2 cents, at $0.43 with 149,354 stocks, Caribbean Flavours finished with a loss of $1.29, at $11.71 with 200 units, Caribbean Producers traded at $3.80 with 43,254 shares. Consolidated Bakeries ended with a loss of 35 cents, at $1.95 with 6,000 stocks, Eppley finished at $12 trading 5,030 units, Express Catering ended 57 cents higher at $4.77 with 141,480 units, Honey Bun concluded trading 10 cents higher at $4.90 with 100 shares, Jamaican Teas ended with a loss of 23 cents, at $4.60 with 36,260 units, Jetcon Corporation settled at $4.80 with 641,573 shares, after trading as low as $4.50. KLE Group settled with a loss of 15 cents, at $3 with 54,650 units, Knutsford Express settled at $14.50 exchanging 13,642 shares, Lasco Distributors ended with a loss of 15 cents at $7 with 106,910 units, Lasco Financial finished with a loss of 34 cents, at $3.65 with 355,750 stock units, Lasco Manufacturing closed 20 cents higher at $4.60 with 39,332 units, Main Event closed with a loss of 55 cents, at $4.50 with 21,962 shares, Paramount Trading settled at $2.70 with 89,960 shares, Stationery and Office ended 20 cents higher at $4.20 with 122,234 units, as it may have found a bottom after trading shortly after listing at $6 before pulling back in to the mid $3 range and tTech finished with a loss of 4 cents, at $6.51 with 42,632 shares.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: Access Financial, AMG Packaging, Caribbean Producers, Consolidated Bakeries, Daily Trading, Emerging markets, Express Catering, Honey Bun, Jamaican stocks, Jamaican Teas, Jetcon Corporation, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Main Event, Medical Disposables, Stationery & Office, Trading Activity, tTech

Offer for Berger not serious

August 31, 2017 by IC Insider.com

Minority shareholders in the Jamaican based Berger Paints have been made an offer to purchase the 104,990,171 ordinary shares that are not owned by the Trinidad based, Ansa McAl group.
The offer is priced at $10.88 per share, well below the price the stock has been trading at for most of 2017 and ever since the company posted strong increased nine months results in early February, re-enforced by earnings of $1.47 per shares for the full year to March, from a 15 percent increase in revenue. With an 11 percent increase in the first quarter to June this year to $23.4 million even as sales declined due to what the company says to inadequate cement supplies.
According to the offer document, from February 12 and March 11 this year, 659,600 units were traded between $10.99 and $13.56. A total of 834,100 units were traded from March 12 to April 11 at $11.41 to $14.49, thereafter until August 11, the trading range was $13.01 to a high of $23.90 with more than 2 million shares trading. In trading in the early morning session on Thursday 65,035 units were sold down to $13.

Berger Paints traded at a 52 weeks’ high of $23.50 earlier this year.

The offer document states that if the group gets 80 percent or more of issued shares, then they will apply to the Jamaica Stock Exchange to have the shares delisted. That of course is an unlikely development at the current offer price. More than 64 million shares or 30 percent of the issued shares are owned by savvy investors comprising 6 shareholders who are unlikely to accept such a low offer. Any success must have the consent of the majority of these holders.
Local stocks are trading at an average of more than 13 times 2017 earnings and that would place a value of Berger shares at $19 to $22 per share. Going forward, with economic activities picking up, profits should rise even more than at the current levels and would put the value of the stock at a higher level than the above range.

Filed Under: General News, JSE Main Market, Stock Market Tagged With: ANSA Coatings, Ansa Mcal, Berger Paints, Daily Trading, Jamaica Stock Exchange, Jamaican Stock

NCB accounts for 61% of trade on Wednesday

August 30, 2017 by IC Insider.com

NCB Financial traded 3m shares on Wednesday on the JSE.

On another record breaking day with the all Jamaica Composite index closing over 280,000 points for the first time, NCB Financial Group led the market with 61 percent of the volume traded, accounting for 3,011,045 shares with the price inching 1 cent higher to $87.55.
Elsewhere at the close of market activity, on a day when there were less securities rising than declining the securities changing hands with the last traded price and volume exchanged are:Barita Investments that lost 1 cent, to close at $9 with 17,951 shares, Cable and Wireless ending at $1 after losing 5 cents with 755,957 shares. Caribbean Cement traded $1 lower to $29 with 59,177 shares, Carreras closed 50 cents lower to $107.50 with 100,008 stock units, Grace Kennedy with gains of 50 cents, closed at $41.50 with 12,349 shares. Jamaica Broilers closed at $18.20 with 21,335 units, overvalued Jamaica Producers added 50 cents, in closing at $15 with 1,936 shares, Jamaica Stock Exchange closed at $6.35, with a loss of 14 cents in trading 91,633 shares, JMMB Group gained of 20 cents and closed at $20.95 with 19,820 shares. Kingston Wharves closed at $32 with 150 shares, Mayberry Investments exchanged 97,980 shares at $4.60, 1834 Investments ended with a loss of 10 cents, closed at $1.30 with 342,520 shares, PanJam Investment climbed $1.52 to $34.50 with 6,000 shares. Pulse Investments fell 4 cents to $1.95 with 109,500 shares, Radio Jamaica lost 8 cents to close at $1.22 with 3,611 shares, Sagicor Group closed at $31.60 with a loss of 40 cents trading 43,720 shares, Sagicor Real Estate Fund closed at $12 with 8,983 shares, Scotia Group closed $1 higher at $47 with 29,941 shares, Seprod traded 5,000 shares at $33, Sterling Investments exchanged 7,000 shares at $14, Supreme Ventures slipped 1 cent to $10.99, with 81,268 shares. Proven Investments US ordinary shares gained 1 US cent to close at 24 US cents with 60,480 units and Jamaica Money Market Brokers 7.25% preference share closed at $2.51 with 17,709 units.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: 1834 Investments, Barita Investments, Cable and Wireless, Caribbean Cement, Carreras, Daily Trading, Emerging markets, Grace Kennedy, Jamaica Broilers, Jamaica Money Market Brokers, Jamaica Producers, Jamaica Stock Exchange, Jamaican stocks, JMMB Group, Kingston Wharves, Mayberry Investments, NCB Financial Group, PANJAM Investment, Proven Investments, Pulse Investments, Radio Jamaica, Sagicor Group, Sagicor Real Estate Fund, Scotia Group, Seprod, Sterling Investments, Supreme Ventures, Trading Activity

Junior market in steady trading – Wednesday

August 30, 2017 by IC Insider.com

Trading on the Junior Market of the Jamaica Stock Exchange ended on Wednesday with 23 securities changing hands resulting in an exchange of 2,037,393 units valued at $8,042,722 compared to 2,320,590 units valued at $10,336,084 on Tuesday.
The market index inched higher by just 0.07 points to 3,093.44 at the close, as 10 stocks advanced, 6 declined and 7 traded with prices remaining unchanged.
Trading ended with an average of 88,582 units for an average of $349,684 in contrast to 89,253 units for an average of $397,542 on Tuesday. The average volume and value for the month to date amounts to 241,379 units valued at $1,469,345, in contrast to 249,420 units valued at $1,528,275 previously. July closed with average of 536,395 units at $1,905,441 for each security traded.
Trading ended with the market sentiments looking mixed for Thursday activity as 4 stocks ended with bids higher than their last selling prices and 3 with lower offers.
At the close of the market, the volume of stocks changing hands and their last traded price are: C2W Music that caused investors to take a second look at it after attempts were made to trade it at 50 cents in the end it settled 2 cents higher for the day at 45 cents with 183,500 units changing hands. Trading ended with the bid posted at 50 cents to buy 40,000 units with only two offers posted at the close at $1.23 and $1.35. The day’s activity in the stock is in contrast to two weeks ago when the price dipped to 38 cents and looked as if it would trade lower. Cargo Handlers settled with a loss of 40 cents, at $9.60 with 450 shares, Caribbean Cream traded at $6.50 with 34,280 units, Caribbean Flavours traded at $13 with 1,000 stocks units, Caribbean Producers traded at $3.80 with 31,258 units, Derrimon Trading ended at $7.90 with 2,000 shares, Express Catering concluded 5 cents higher at $4.20 with 138,183 stocks, General Accident finished with a loss of 2 cents, at $2.80 with 107,700 shares, Honey Bun closed with a loss of 20 cents, at $4.80 with 3,598 units, Jamaican Teas settled with a loss of 7 cents, at $4.83 with 11,737 stocks, Jetcon Corporation finished with a loss of 20 cents, at $4.80 with 1,085,266 units, KLE Group climbed 14 cents higher at $3.15 with 270,971 shares, Key Insurance rose 10 cents higher to $3.10 with 7,947 stocks units, Knutsford Express closed 10 cents higher at $14.50 with 7,606 stocks, Lasco Distributors ended 15 cents higher at $7.15 with 27,962 units, Lasco Financial finished 39 cents higher at $3.99 with 100 units, Lasco Manufacturing closed with a loss of 5 cents, at $4.40 with 4,299 units, Main Event concluded market activity 55 cents higher, at $5.05 with 3,823 stocks, Medical Disposables concluded trading 1 cent higher at $4.26 with 28,521 units, Paramount Trading ended at $2.70 with 38,304 units, Stationery and Office concluded trading at $4 with 11,782 units, tTech finished 50 cents higher at $6.55 with 16,378 shares and Derrimon Trading closed with a loss of 3 cents, at $2 with 20,728 shares.

Filed Under: JSE Junior Market, Stock Market Tagged With: Caribbean Producers, Consolidated Bakeries, Daily Trading, Derrimon Trading, Emerging markets, Express Catering, Honey Bun, Jamaican stocks, Jamaican Teas, Jetcon Corporation, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Main Event, Medical Disposables, Stationery and Office, Trading Activity, tTech

Jamaican$ drops to J$129.33 to US$1

August 30, 2017 by IC Insider.com

Trading in the Jamaican foreign exchange market on Wednesday resulted in the Jamaican dollar declining in value against the US dollar, following Tuesday’s decline with the selling rate ending at J$129.33 from J$128.77 previously, even as inflows rose over Tuesday’s intake.
Dealers bought the US currency at an average of J$128.16, versus J$127.36 on Tuesday. Trading ended with inflows of US$45.12 million compared to US$38.41 million on Tuesday with Bank of Jamaica is entitled to approximately 25 percent of the inflows or around $10 million of Wednesday’s intake. Outflows amounted to only US$45.80 million compared to US$35.70 million of all currencies on the prior trading day.
In USA dollar trading, inflows ended at US$39.70 million versus US$31.76 million on Tuesday with outflows of US$37.91 million compared to US$26.33 million.
The selling rate for the Canadian dollar fell to J$103.71 from J$104.44 at the close on Tuesday while the British Pound was more costly, with J$167.53 buying the British currency versus J$167.23 and the euro, rose in value against the Jamaican dollar, with it jumping to J$157.24 to buy the European common currency, versus J$156.41 previously.

Filed Under: Economy, FX Market Tagged With: Bank Of Jamaica, BOJ, British Pound, Canadian dollar, Daily trading activity, Emerging market, euro, euro v J$, FX trading, jamaican dollar, US Dollar

JSE surge to a new record on Wednesday

August 30, 2017 by IC Insider.com

The main market of the Jamaica Stock Exchange claimed another record at the close of trading on Wednesday. The All Jamaica Composite Index advanced 1,319.06 points to a record close of 280,810.12 and the JSE Market Index gained 1,201.81 points to a record 255,849.82.
Trading in the US dollar market was moderate but the index rose 1.37 points to end at 178.89 as trading resulted in one security changing hands and accounted for 60,480 units valued at US$14,039.
The main market crossed over a resistance level at 273,000 points on the all Jamaica Composite index recently and have its eyes focused on 290,000, the next level to take out before the market enters open waters that seem to have no resistance level, going back to the late 1980s which suggest a major bull run ahead, supported by low interest rates, increasing profits and a growing economy.
At the close of trading on Wednesday, 23 securities changed hands in the main market and ended with 4,844,593 units valued at $284,429,479 changing hands compared to 3,871,868 units valued at $124,392,766 at the close on Tuesday. The total of all trades in both markets was to J$286,276,435 with NCB Financial Group trading over 3 million shares valued at $264 million. At the close market, leading to 7 stocks advancing and 10 declining in both markets.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer

NCB Financial Group traded 3m shares on Wednesday worth $264m.

indicator reading shows 2 stocks with bids higher than their last selling prices and 3 with lower offers.
The main market ended trading with an average of 210,634 units valued at $12,366,499 for each security traded compared to an average of 143,403 units valued at $4,607,139. The average volume and value for the month to date ended at $184,581 units with an average value of $4,435,127 compared with an average of 183,210 units with an average value of $4,017,686 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: Daily Trading, Emerging market stocks, Jamaica Stock Exchange, Jamaican Stock, Jamaican stocks, National Commercial Bank, NCB

Market activity surges on TTSE

August 30, 2017 by IC Insider.com

More than twice the number of securities changing hands in market activity on the Trinidad & Tobago Stock Exchange on Wednesday resulting from 16 trading compared to 7 on Tuesday as trading levels rose for the last two days.
At the close, 3 stocks advanced, 6 declined and 7 were unchanged as 256,519 shares traded at a value of $2,932,389 compared to Tuesday’s trades of only 58,067 units valued at a mere $755,391.
The Composite Index declined 1.10 points to 1,240.49, the All T&T Index remained at 1,791.21 and the Cross Listed Index was down 0.30 points to 92.63 points.
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| The last traded prices of securities that rose and the volume changing hands were Guardian Holdings added 9 cents, closing at a 52 weeks’ high of $16.60 with 5,052 shares, JMMB Group closing at $1.28, with a 1 cent gain trading 34,300 stock units and Point Lisas gained 12 cents to close at $4 with 3,002 shares.
Losses| The last traded prices of securities declining and the volume changing hands are Clico Investment with a loss of 1 cent, to a 52 weeks’ low of $20.74 with 7,328 shares, Massy Holdings shedding 7 cents to close at a 52 weeks’ low of $48.92 with 6,069 shares, National Enterprises fell 1 cent to $10.47 with 705 shares. NCB Financial Group ended with a loss of 5 cents, to $5 with 91,520 shares valued at $457,600, Trinidad & Tobago NGL lost 1 cent with 2,910 shares to close at $22.49 and West Indian Tobacco closed at a 52 weeks’ low of $125.49, having lost 1 cent with 839 shares changing hands.
Firm Trades| The last traded prices of securities and the volume traded unchanged at the close of trading were First Citizens closed at $31.67 with 538 shares, First Caribbean International traded 500 shares at $8, Grace Kennedy closed at $2.85 with 75,000 shares. Prestige Holdings exchanged 500 shares at $10.65, Republic Financial Holdings closed at $102 with 100 shares, Scotiabank remained at $58.02 with 24,890 shares valued at $1,444,118 and Trinidad Cement closed at $4.20 with 3,266 shares. The market closes on Thursday for Independence day holiday.