Archives for September 2017

JSE in big fall on Tuesday

JSE headquarters in downtown Kingston.

Decline of $1.90 in the price of Scotia Group shares along with 9 other stocks, dented the value of the main market of the Jamaica Stock Exchange on Tuesday, as price movements between winners and losers are close to even as 25 securities traded.
The market suffered large fall in the two main indices with the All Jamaica Composite Index dropping 3,458.79 points to close at 281,912.79, as the 290,000 points resistance is proving a challenge to the market for the time being. The JSE Market Index sank 3,151.35 points to 256,854.43. The JSE US dollar market index added 0.40 points to 187.99.
At the close of trading, 25 securities changed hands in the main market with 4 trading in the US dollar market, leading to 9 stocks advancing and 11 declining. The main market ended with 4,433,242 units valued at $88,443,092 changing hands compared to 1,991,216 units valued at $25,521,205 on Monday. Trading in the US dollar market accounted for 110,250 units valued at US$31,004, bringing the total of all trades to J$92,473,610.
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 2 with lower offers.
The main market ended trading with an average of 177,330 units valued at $3,537,724 for each security traded compared to an average of 82,967 units valued at $1,063,384. The average volume and value for the month to date ended at 278,353 units with an average value of $2,866,580 compared with an average of 284,296 units with an average value of $2,829,294 on the previous trading day. The average volume and value for August ended at 184,094 units with an average value of $4,336,090.

Forex inflows up to US$45m – Tuesday

Inflows of all currencies into Jamaica’s forex market rose on Tuesday to US$45.06 million from Mondays’ US$41.73 million, while dealers sold US$49.48 million versus US$40.33 million, previously.
US currency purchases, accounted for US$36.50 million at an average of J$129.26 versus J$129.28 for US$36.29 million on Monday, while dealers sold US$41.60 million at JS$130.45 compared to J$130.52 for US$36.04 million previously.
The selling rate for the Canadian dollar rose to J$106.41 from J$106.06, at the close on Monday. The British Pound was marginally more costly, with J$175.34 buying the British currency versus J$175.30 previously and the euro, fell slightly in value against the Jamaican dollar, with it taking J$156.15 to buy the European common currency, versus J$156.18 previously.

Forex inflows dip to US$42m – Monday

Inflows of all currencies into Jamaica’s forex market dipped on Monday to US$41.73 million from Fridays’ US$51.07 million, while dealers sold US$40.33 million versus US$35.61 million, previously.
US currency purchases, accounted for US$36.29 million at an average of J$129.28 versus J$129.78 for US$40.99 million on Friday, while dealers sold US$36.04 million at JS$130.52 compared to J$131.18 for US$29.71 million previously.
The selling rate for the Canadian dollar fell to J$106.06 from J$106.43, at the close on Friday. The British Pound was less costly, with J$175.30 buying the British currency versus J$176.75 previously and the euro, fell in value against the Jamaican dollar, with it taking J$156.18 to buy the European common currency, versus J$157.29 previously.

JSE main market slips – Monday

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Scotia Group dropped $3 to $46.

Trading on the Main and US dollar market of the Jamaica Stock Exchange ended with an almost even advance decline ratio resulting in the market indices slipping in a shortened trading session that commenced in the afternoon after the regular closing time had passed.
The volume of securities trading and the days last traded price are, Barita Investments that ended with a loss of 25 cents at $7.75, with 6,700 shares. Berger Paints concluded trading with a loss of 75 cents at $11.25, with 7,256 units, Cable & Wireless ended with a loss of 4 cents at $1, with 170,543 stocks changing hands, Carreras finished 50 cents higher at $11.50, with 464,114 units, Grace Kennedy finished $1.45 higher at $43.50, with 5,737 shares, Jamaica Broilers ended 50 cents higher at $17.50, with 39,878 stock units, Jamaica Producers concluded trading at $15, with 13,350 shares, JMMB Group finished 70 cents higher at $22.70, with 41,657 units, Kingston Properties finished at $7, with 2,000 shares, Kingston Wharves dropped $2.22 trading 18,341 shares to end at $28.51. Mayberry Investments traded with a loss of 50 cents at $4.10, with 2,138 units, NCB Financial fell 92 cents to $86.88 with 73,643 units changing hands. 1834 Investments ending at $1.40, with 93,917 stocks, PanJam Investment traded with a loss of 50 cents at $35, with 146,100 units, Portland JSX traded at $9.30, with 2,450 shares, Pulse Investments closed 9 cents higher at $1.80, with 7,701 stock units, Radio Jamaica closed at $1.12, with 49,263 units, Sagicor Group settled with a loss of 40 cents at $34, with 55,255 shares, Sagicor Real Estate Fund concluded trading 50 cents higher at $11.50, with 7,480 shares. Scotia Group dropped $3 to $46, with 44,994 stock units changing hands, Scotia Investments concluded trading 1 cents higher at $35.51, with 2,900 units, Supreme Ventures ended 9 cents higher at $11.09, with 699 shares.
In the main market preference segment, Jamaica Money Market Brokers 7.5% preference share traded at $2, with 232,000 units and JMMB Group 7.5% preference share closed at $1.19, with 503,100 shares.
In the US dollar market, Margaritaville traded just 100 units at 30 US cents, Productive Business Solution US ordinary shares lost 3 cents and closed at 62 US cents trading 750 units, Proven Investments US ordinary share closed at 23.99 US cents, after rising 1.99 US cents in exchanging 99,223 units.

Shortened session for JSE on Monday

Trading on the Main Market of the Jamaica Stock Exchange started well after the scheduled 9:30 opening, and only started at 1:15 in the afternoon after the stock exchange resolved problems with the trading platform and market activity ended at 3.29 on Monday.
Trading ended with 24 securities changing hands in the main market, the same number as on Friday and 4 trading in the US dollar market, resulting in 9 advancing, 10 declining and 5 traded firm at last traded prices. In the shortened trading session, 1,991,216 units valued at $25,521,206 changed hands, compared to 1,971,314 units valued at $32,172,855 on Friday.In the US dollar market trading accounted for 101,176 units valued at US$25,233 resulting in total trading in both markets to J$28,826,703.
At the close the All Jamaica Composite Index declined 859.78 points to close at 285,371.58, the JSE Market Index lost 783.36 points to 260,005.78 and the JSE US dollar market index inched 0.54 points higher to 187.05.
Trading ended with an average of 82,967 units for an average of $1,063,384 in contrast to 82,138 units for an average of $1,340,536 on Friday. The average volume and value for the month to date amounts to 284,296 units valued at $2,829,294, compared to 296,879 shares valued at an average of $2,933,171, previously. In contrast, August closed with average of 184,094 units with an average value of $4,336,090 for each security traded.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading ended with the market sentiments looking slightly positive for Tuesday’s activity as 10 stocks ended with bids higher than their last selling prices and 2 with lower offers.

Junior Market drops below 3,000 points

Trading on the Junior Market of the Jamaica Stock Exchange closed with 19 securities changing hands, the same as on Friday, resulting in an exchange of only 394,030 units valued at $1,640,793 compared to 2,279,940 units valued at $14,635,254 on Friday.
The market Index declined by 12.08 points to close at 2,991.60, with prices of the last trades resulting in 4 advancing, 6 falling and 9 remaining unchanged.
Trading ended with an average of 20,738 units for an average of $86,358 in contrast to 119,997 units for an average of $770,277 on Friday. The average volume and value for the month to date amounts to units 129,302 valued at $593,087, compared to 136,087 units at an average of $624,758 previously. In contrast, August closed with average of 234,437 units valued at $1,295,260 for each security traded. Trading ended with the market sentiments looking mixed and having implications for Tuesday’s trading activity as 2 stocks ended with bids higher than their last selling prices and 1 with a lower offer.
At the close of the market the volume of stocks changing hands and their last traded price are: Cargo Handlers traded 9 cents higher at $11.09, with 500 units, Caribbean Cream finished with a loss of 40 cents at $6.10, with 1,000 stock units, Caribbean Producers concluded trading with a loss of 20 cents at $3.60, with 93,333 shares, Derrimon Trading ended at $8, with a mere 903 units, Express Catering concluded trading at $4.40, with 20,314 stocks changing hands, General Accident closed with a loss of 10 cents at $2.60, with 29,426 shares, Honey Bun concluded trading 5 cents higher at $4.05, with 1,160 units, Iron Rock settled at $2.80, with 13,303 shares, Jamaican Teas closed at $4.05, with just 1,751 stock units, Jetcon Corporation traded 10 cents higher at $4.50, with 25,797 shares, Key Insurance traded at $4, with 10,415 units, KLE Group traded at $2.86, with 4,400 shares changing hands, Lasco Distributors settled with a loss of 5 cents at $6.75, with 10,551 stock units, Lasco Financial closed 10 cents higher at $4.10, with 9,851 units, Lasco Manufacturing ended at $4, with 103,799 shares, Main Event ended with a loss of 83 cents at $4.45, with 19,939 units, Medical Disposables concluded trading at $5, with 1,400 stocks trading, Stationery and Office finished with a loss of 9 cents at $4.75, with 26,188 stock units and tTech traded 20,000 shares at $7.55.

570,000 Berger shares snapped up

Berger Paints traded 570,000 shares on Friday and closed at $12.

Investors snapped up more than 570,000 units of Berger Paints’ shares pushing the price to $12 at the close, as more news came to the public that Ansa Coatings is highly unlikely to get enough shares to force a delisting of the company from the Jamaica Stock Exchange based on the offer, of $10.88 per share.
The JSE market indices rose on Friday as Scotia Group recovered some ground with 9 other stocks posting gains even as 11 fell in value.
At the close of market activity, Barita Investments closed with a loss of 15 cents at $8 with 323 units trading, Berger Paints added 75 cents to close at $12 with 572,833 shares changing hands, Cable and Wireless closed at $1.04, gaining 3 cents with 13,270 units, Caribbean Cement closed with a loss of 30 cents at $25.50 with 67,941 shares, Carreras gained 20 cents, and closed at $11 with 417,758 units, Grace Kennedy traded $1.45 lower, to $42.05 with 35,700 units. Jamaica Broilers advanced $1.25 to $17 exchanging 28,943 shares, Jamaica Producers declined by $1, closing at $15 with 6,650 units, Jamaica Stock Exchange closed at $6.50 with 4,960 stock units, JMMB Group closed at $22, after falling $1 in trading 148,514 shares. Kingston Wharves with 100 units traded rose $1.23 to $30.73, Mayberry Investments lost 9 cents, closing at $4.60 with 31,800 shares, NCB Financial Group traded 70 cents lower to $87.80 with 90,395 shares, 1834 Investments lost 4 cents to close at $1.40 with 30,000 shares. PanJam Investment dropped $3.50 to $35.50 with 22,813 stock units, Pulse Investments closed at $1.71, gaining 6 cents with 126,500 shares, Radio Jamaica closed at $1.12 trading 72,310 shares, Sagicor Group gained 40 cents, and ended at $34.40 with 15,770 shares, Sagicor Real Estate Fund gained 39 cents, closing at $11 with 1,850 units, Scotia Group closed $2.90 higher at $49 while exchanging 58,409 shares, Scotia Investments fell $1.50, closing at $35.50 with 1,412 units, Seprod with gains of $1, ended at $34 with 1,000 units, Supreme Ventures closed at $11, having gained 15 cents with 50,150 shares changing hands. Productive Business Solution US ordinary shares closed at 65 US cents trading 1,920 units, Proven Investments US ordinary shares closed at 22 US cents, after losing 1.99 US cents in exchanging 241,067 units and JMMB Group 7.5% preference share closed traded at $1.19 with 171,913 units.

 

Forex inflows jump to US$51m – Friday

Inflows of all currencies into Jamaica’s forex market jumped on Friday of US$51.07 million from Thursdays’ US$30.75 million, while dealers sold only US$35.61 million versus US$26.40 million.
US currency purchases accounted for US$40.99 million at an average of J$129.78 versus J$129.82 for US$28.22 million on Thursday, while dealers sold US$29.71 million at JS$130.81 compared to J$131 for US$24.62 million previously. For the week Purchases by dealers accounted for US$276 million and selling of US$186 million of all currencies.
The selling rate for the Canadian dollar fell to J$106.43 from J$107.09, at the close on Thursday. The British Pound was less costly, with J$176.75 buying the British currency versus J$177.81 previously and the euro, fell in value against the Jamaican dollar, with it taking J$157.29 to buy the European common currency, versus J$158.92 previously.

Berger pushed to $12 at close – Friday

Investors pushed the price of Berger Paints higher during trading, buying more than half a million units while Scotia Group shares were pushed back over $50, but closed below with a tidy gain at the end.
At the end of market activity on Friday,Jamaica Stock Exchange main market stocks eked out small gains in the market indices to close out a week that was recovering from the battering it got a week ago. At the close the All Jamaica Composite Index advanced 572.04 points to close at 286,231.36, the JSE Market Index gained 521.69 points to 260,789.14 and the JSE US dollar market index declined by 4.25 points to 187.05.
Trading levels remained low with just over $30 million being turned over, with 24 securities changing hands in the main market, with 3 trading in the US dollar market, leading to 9 stocks advancing and 10 declining. The main market ended with 1,971,314 units valued at $32,172,854 changing hands compared to 3,004,551 units valued at $33,829,615 at the close on Thursday. Trading in the US dollar market accounted for 242,987 units valued at US$56,879 bringing the total of all trades to J$39,567,173.
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 82,138 units for an average of $1,340,536 for each security traded compared to an average of 120,182 units valued at $1,353,185. The average volume and value for the month to date ended at $296,879 units with an average value of $2,933,171 compared with an average of 311,195 units with an average value of $3,032,711 on the previous trading day. The average volume and value for August ended at 184,094 units with an average value of $4,336,090.

US$40m for BOJ FX auction

Bank of Jamaica announced that they will be auctioning off US$10 million in each of the next four foreign exchange auction (B-FXITT).
The amount allocated will start next Wednesday, September 27 and end Wednesday October 18. The weekly amounts translate to $40 million and compares with US$65 million made available by BOJ over the past four weeks.
According to the central bank, “each entity may submit up to three bids in the operation. In order to maintain eligibility to access B-FXITT operations each authorized dealer and selected cambio must submit at least one bid. The total value of all bids submitted by each entity must not exceed 20 percent of the auction offer size