Archives for September 2017

Finance companies blast JSE indices

Sagiocr Group was one of the big contributors to the JSE rise on Friday with a rise of $2.30.

The main market of the Jamaica Stock Exchange started trading for September in a very bullish mode and closed the day with a huge jump in the market indices, thanks to 2 to 1 advance decline ratio, but more so by movements in the three large capitalisation stocks, NCB Financial, Sagicor Group and Scotia Group.
The All Jamaica Composite Index surged 8,689.74 points, at the close of trading the third highest in the markets history and the JSE Market Index climbed 7,917.33 points. The market sits just under a major resistance level at 290,000 points on the All Jamaica Composite Index, a meaningful break out this coming week could open the market up for a huge rally for the balance of the year.
At the close of market activity, the volume of stocks changing hands and their last traded price are Barita Investments with gains of 5 cents to end at $8.10 with 9,501 shares, Berger Paints closed $2.50 lower to $10.60 with 30,378 shares as investors responded negatively to the buyout offer for the minority shareholdings while ignoring the fundamentals of the company. Cable and Wireless gained 5 cents, closing at $1.05 with 18,094 shares, Caribbean Cement traded 40,150 shares at $27, Carreras closed at $108 with 30,352 stock units, Ciboney exchanged just 200 shares at 17 cents, Grace Kennedy added 2 cents to close at $42 with 14,115 shares. Jamaica Broilers lost 5 cents and closed at $18.95 with 26,278 shares, Jamaica Stock Exchange closed at $6.35, rising of 50 cents in trading 850 shares,JMMB Group gained 49 cents to close at $21.49 with 11,653 units. Kingston Properties closed at $7.50, rising 30 cents with 742 stock units, Kingston Wharves traded 6 cents lower to $30.79 with 1,503 shares, Mayberry Investments lost 20 cents, closing at $4.30 with 199,098 stock units, NCB Financial Group climbed $1.01 to close at $90 with 42,492 shares, 1834 Investments ended with a gain of 4 cents, closed at $1.34, with 31,474 shares and 138 Student Living lost 70 cents to close at $4.75 with 100 stock units. Radio Jamaica closed at $1.22 with 25,927 units changing hands, Sagicor Group jumped $2.30 to $34.10 trading 331,028 shares, Sagicor Real Estate Fund ended at $11.96, after falling 9 cents with 17,729 shares, Salada Foods gained 50 cents, closing at $8.50 with 100,000 shares, Scotia Group closed at $50 with 255,822 shares, after trading earlier at $52. The market closed with no stock being offered for sale ahead of the third quarter results due in the coming week. Seprod traded 4,000 shares at $33, Supreme Ventures closed at a record $12.90, gaining 90 cents with 81,771 units. Newly listed Productive Business Solutions US ordinary shares rose 5 cents and closed at a record 60 US cents while trading just 100 units, Proven Investments US ordinary share closed at 24 US cents with 14,100 units, Jamaica Money Market Brokers 7.5% preference share traded 45,100 units at $2 and JMMB Group 7.5% preference share gained 1 cent to close at $1.16 with 34,643 units.

Trinidad stocks still drifting

The Trinidad & Tobago Stock Exchange resumed trading on Friday, after the break for the country’s Independence Day on Thursday. At the close 8 securities changed hands compared to 16 on Wednesday.
The market closed with 1 stock advancing, 2 declining and 5 holding firm as 191,728 shares valued at $1,095,850 traded, compared to Wednesday’s 256,519 units valued at $2,932,389.
The Composite Index declined 0.08 points to 1,240.41, the All T&T Index slipped 1.15 points to 1,790.06 but the Cross Listed Index gained 0.14 points to 92.77 points.
IC bid-offer Indicator| The Investor’s Choice bid-offer continued to reflect negative investors sentiments with 4 stocks with bids higher than last selling prices and 7 with lower offers.
Gains| JMMB Group was the sole security rising at the close and ended with a gain of 3 cents, to closed at $1.31, with 105,000 shares.
Losses| Clico Investment lost 4 cents to end at a 52 weeks’ low of $20.70 with just 100 shares changing hands and Trinidad & Tobago NGL declined 49 cents to end at $22 with 31,945 shares valued at $702,790.
Firm Trades| The last traded prices of securities and the volume traded unchanged at the close of trading are Guardian Holdings closing at $16.60 with 148 shares, National Enterprises trading 295 shares at $10.47, NCB Financial Group holding at $5 with 11,480 shares, Sagicor Financial ending at $8.30, with 2,687 shares while Trinidad Cement exchanged 40,073 shares at $4.20.

Huge 8,689 points jump in JSE index – Friday

Scotiabank traded at a new $52 added around 5,000 points in the big surge in the indices on Friday.

A huge surge in a number of main market stock indices of the Jamaica Stock Exchange saw the All Jamaica Composite Index soared 8,689.74 points to close at 289,247.13 on Friday as Scotia group traded as high as $52 and NCG Financial jumped back $90.
The JSE Market Index climbed 7,917.33 points to 263,536.88 and the JSE US dollar market index rose 4.60 points to 187.18. Friday’s close is the third highest in the history of the market and is only bettered by 9,082.60 points rise on January 27 and 9,076.76 points on February 9 this year, the next in line is 7,697.11 points gain in October 2015.
At the close of trading, 25 securities changed hands in the main market with 2 trading in the US dollar market, leading to 13 stocks advancing and 6 declining as 3 securities traded at record highs during the day and 2 closing at record highs with Scotia Group trading at a high of $52 during trading but ended back at $50, the closing price on Thursday while Supreme Ventures moved to $12.90 and Productivity Business Solutions traded at 60 US cents up from the IPO price of 55 cents but with just 100 units trading.
The main market ended with 1353,000 units valued at $37,486,124 changing hands compared to 5,056,094 units valued at $68,305,370 at the close on Thursday. Trading in the US dollar market accounted for 14,200 units valued at US$3,444 bringing the total of all trades to J$37,930,400.
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 54,120 units valued at $1,499,445 for each security traded compared to an average of 174,348 units valued at $2,355,358 on Thursday. The average volume and value for August ended at 184,094 units with an average value of $4,336,090.

US$ Demand falls sharply in Jamaica – Friday

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Trading in the Jamaican foreign exchange market on Friday, resulted in a big difference between purchases and sales, with purchasing of all currencies ending at US$42.05 million and outflows at US$26.69 million.
Purchases by dealers on Thursday amounted to the equivalent of US$83.06 million while dealers sold US$59.28 million.
At the end of trading, the US dollar was sold at J$129.52 from J$129.65 previously while dealers bought the US currency at an average of J$128.42 versus J$128.87 on Thursday.
In USA dollar trading, inflows ended at US$38.63 million versus US$76.39 million on Thursday with outflows of US$24.41 million compared to US$53.52 million.
The selling rate for the Canadian dollar rose to J$104.30 from J$103.77 at the close on Thursday while the British Pound was more costly, with J$167.22 buying the British currency versus J$165.72 and the euro, gained in value against the Jamaican dollar, with it taking J$153.82 to buy the European common currency, versus J$153.55 previously.

Junior index rise in moderate trading

Trading on the Junior Market of the Jamaica Stock Exchange closed on Friday with 19 securities changing hands, resulting in an exchange of 689,176 units valued at $4,663,095 compared to 1,911,988 units valued at $7,957,392 on Thursday.
At the close of market activities, the Junior Market Index rose 20.35 points to end at 3,119.25 as the prices of 7 advanced, 5 declined and the prices of 7 remained unchanged.
Trading ended with an average of 36,272 units for an average of $245,426 in contrast to 95,599 units for an average of $397,870 on Thursday. In contrast, August closed with average of 234,437 units at $1,295,260 for each security traded.
Trading ended with the market sentiments still looking mixed for Monday’s activity, as 8 stocks ended with bids higher than their last selling prices and 4 with lower offers.
At the close of the market the volume of stocks changing hands and their last traded price are: AMG Packaging ended with a loss of 18 cents, at $3.30 with 11,000 shares, Blue Power finished $1 higher at $41 with 856 shares, Cargo Handlers settled at $9.60 with 1,550 shares, Caribbean Cream rose 35 cents to $6.85 with just 1,632 units, Caribbean Producers finished at $3.80 with 3,000 shares, Dolphin Cove settled at $17.30 trading 200 units, Express Catering fell 7 cents, to $4.70 exchanging 12,895 stock units, General Accident ended at $2.80 with 9,956 shares, Honey Bun finished at $4.90 with 14,470 units, Jamaican Teas concluded trading 40 cents higher at $5 with 500 stocks, Jetcon Corporation closed with a loss of 30 cents, at $4.50 with 17,858 shares, KLE Group settled 5 cents higher at $3.05 with 25,147 units, Key Insurance closed at $3.10 with 1,857 stock units, Knutsford Express ended at $14.50 trading 64,743 shares, Lasco Distributors settled with a loss of 10 cents, at $6.90 with 388,392 stock units, Lasco Financial finished 25 cents higher at $3.90 with 26,100 units, Lasco Manufacturing settled with a loss of 15 cents, at $4.45 with 2,300 units, Medical Disposables traded 1 cents higher at $4.27 with 9,073 shares and Stationery and Office settled at $4.20 with 97,647 shares changing hands.

JSE just below resistance at 190,000 points

The main market of the Jamaica Stock Exchange surged to a new high at 12.30 pm on Friday with the all Jamaica Composite index jumping 8,505.30 points to a record 289,062.69 while the main market index rose 7,749.29 points to a record 263,368.84.
The Combined Index jumped 7,344.21 points to a record 276,121.30 as market sentiments suggest that the market may be at an early stage of a major bull run. The junior market that slipped 1.95 points at 11am is now up 18.94 to 3,117.84 while the US dollar market index that was unchnaged at 182.58 in the morning session is now up4.60 to 187.18.
Scotia Group is a mjor contributor to the big market gain with the privce jumping to $52 and only 389 units are now offered at $52. Supreme Ventures traded at a new high of $12.90 but sits at $12.50 with half an hour of trading to go.

New record for JSE main market

The main market of the Jamaica Stock Exchange surged to a new high at 11 am on Friday with the all Jamaica Composite index jumping 4,315.47 points to a record 284,872.86 while the main market index rose 3,931.88 points to a record 259,551.43.
The Combined Index climbed 3,602.38 points to a record 272,379.47 as market sentiments suggest that the market may be at an early stage of a major bull run. The Junior Market slipped 1.95 points to 3,096.95 while the US dollar market index is unchanged at 182.58.
Sagicor Group traded 242,800 units valued $8 million and Lasco Distributors had 214,992 units trading valued at $1,68 million and Salada Foods had 100,000 units changing hands with a gain of 50 cents to $8.50.