The Jamaican dollar marginally lost value on Tuesday, with the rate against the US dollar that dealers sold at, inching to $129.57 from JS$129.56 on Monday and as slightly more funds were sold than bought.
Inflows of all currencies into Jamaica’s forex market ended on Tuesday at US$48.33 million compared to Monday’s US$46.95 million, while dealers sold US$49.45 million versus US$53.91 million, previously.
US currency purchases, accounted for US$40.80 million of the total inflows, at an average of J$128.62 versus J$128.48 for US$43.78 million on Monday, while dealers sold US$43.61 million compared to US$52.12 million previously.
The selling rate for the Canadian dollar rose to J$103.94 from J$102.48 at the close on Monday. The British Pound dropped to J$170.96 for buying the British currency versus J$171.50 previously and the euro gained in value against the Jamaican dollar, with it taking J$152.57 to buy the European common currency, versus J$151.84, previously.
Archives for October 2017
JS$ inched lower in value vs US – Tuesday
TTSE gains on Tuesday
All three Trinidad & Tobago Stock Exchange market indices rose on activity on the closed on Tuesday as advancing stocks just edged out falling stocks following 12 securities changing hands compared to 9 on Monday.
The Composite Index advanced 2.43 points to 1,244.58, the All T&T Index rose 1.81 points to 1,785.02 and the Cross Listed Index added 0.41 points to close at 94.60. At the close 4 stocks advanced, 3 declined and 5 remained unchanged.
Trading levels rose above the previous day’s with Angostura Holdings leading with 81 percent of the value of the securities exchanged as 221,213 shares traded at a value of $3,516,269 compared to Monday’s trades of 61,585 valued at $1,205,904.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 4 stocks with bids higher than last selling prices and 6 with lower offers.
Gains| The last price of securities rising traded and the volume changing hands are Clico Investment with a 1 cent gain, closing at $21.52 in exchanging 6,862 shares, Massy Holdings traded $1.01 higher to $50 with 210 units, NCB Financial Group closed at $5.16, after gaining 6 cents, with 10,000 shares and Trinidad & Tobago NGL settling at $23.10 in rising 10 cents in trading 987 units.
Losses| The last traded price of the securities declining and the volume changing hands are Angostura Holdings that closed at $15.15, with a loss of 9 cents, exchanging 187,946 shares valued at $2,847,382, One Caribbean Media lost 1 cent, closing at $14.24 with 250 units and Republic Financial ended with a loss of 1 cent at $101.89 with 300 units.
Firm Trades| The last traded prices of securities and the volume traded unchanged at the close of trading are JMMB Group closing at $1.35 exchanging 2,600 shares. National Flour Mills traded 1,600 units at $2, Sagicor Financial closed at $8.15 trading 1,000 units, Scotiabank held firm at $58.05 trading 6,458 shares valued at $374,887 and Trinidad Cement closed at $4.20 with 3,000 shares.
Junior Market rises – Monday
Trading on the Junior Market of the Jamaica Stock Exchange ended on Monday with 25 securities changing hands, resulting in an exchange of 2,098,509 units valued at $11,226,036 compared to 1,889,929 units valued at $9,948,506 on Friday.
At the close of market activities, the prices of 7 securities advanced, 11 declined and 7 remained with the prices unchanged. The Junior Market Index advanced by 27.80 points to close at 2,934.57.
Trading ended with an average of 83,940 units for an average of $449,041 in contrast to 89,997 units for an average of $473,738 on Friday. In contrast, September closed with average of 116,176 units valued at $538,652 for each security traded. Trading ended with 4 stocks with bids higher than their last selling prices and 2 with lower offers.
At the close of the market the volume of stock units changing hands and their last traded price are: Access Financial closing at $42, with 2,311 units, AMG Packaging trading 30 cents higher at $3.50, with 15,000 shares. Blue Power jumped $4 higher to $49, with 450 stock units changing hands, CAC 2000 traded 199,944 stock units to close at $7, Cargo Handlers ended with a loss of $1.58 at $9.50, with 2,045 shares, Caribbean Cream concluded trading at $6, with 5,371 units, Caribbean Producers ended trading with a loss of 15 cents at $3.60, with 408,750 units trading. Consolidated Bakeries lost 20 cents in closing at $2.50, with 3,677 units, C2W Music traded with a loss of 1 cent at $0.49, with 1,000 stock units, Eppley finished 20 cents higher at $12, with just 500 units, Express Catering ended 16 cents higher at $4.16, with 17,562 shares, General Accident closed with a loss of 24 cents at $2.50, trading 852 stock units, Honey Bun traded 1,200 units at $4.30. Jamaican Teas concluded trading with a loss of 11 cents at $3.79, with 107,025 stock units, Jetcon Corporation concluded trading with a loss of 22 cents at $4.28, with 166,217 units, Knutsford Express lost 34 cents at $14.55, with 10,194 shares, Lasco Distributors ended trading at $6.30, with 26,651 shares, Lasco Financial settled with a loss of 27 cents at $3.75, with 49,449 units trading. Lasco Manufacturing ended trading at $3.80, with 107,299 shares, Main Event concluded trading with a loss of 25 cents at $5, with 38,898 units, Medical Disposables traded at $5.30, with 17,600 units, Paramount Trading closed 10 cents higher at $2.80, exchanging 32,614 units, Stationery and Office ended trading 5 cents higher at $4.85, with 126,441 shares changing hands, tTech fell 5 cents to $7, with 88,098 shares and in the junior market preference segment, Eppley concluded trading with a loss of 5 cents at $6.50, with 669,361 shares.
Trading levels sink on Monday on TTSE
The Trinidad & Tobago Stock Exchange closed on Monday with 9 securities changing hands compared to 11 on Friday leading to 61,585 shares trading at a value of $1,205,904 compared to Friday’s trades of 83,803 units valued at $1,209,765.
The market closed with no stock advancing, 2 declining and 7 remaining unchanged.
The Composite Index gained 0.55 points to 1,242.15, the All T&T Index rose 1.03 points to 1,783.21 and the Cross Listed Index added 0.01 point to close at 94.19.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 5 stocks with bids higher than last selling prices and 8 with lower offers.
Gains| There were no securities advancing based on prices last traded.
Losses| At the close of trading, Prestige Holdings closed at $10.75, with a loss of 5 cents trading 10,000 shares and Scotiabank lost 1 cent, closing last at $58.05 with 66 units exchanged.
Firm Trades| The last traded prices of securities and the volume traded unchanged at the close of trading are Angostura Holdings closed at $15.24 while exchanging 5,000 stock units, Clico Investment traded 6,001 shares at $21.51, First Citizens held firm at $32 with 1,372 units, National Flour Mills exchanged 600 units at $2. Republic Financial Holdings exchanged 134 units at $101.90, Sagicor Financial remained at $8.15 with trades of 3,565 shares and Trinidad & Tobago NGL closed at $23 with 34,847 shares valued at $801,513.
JS$ gains more ground on Monday
The Jamaican dollar recovered more value on Monday, with the rate against the US dollar that dealers sold at, falling to $129.56 from JS$129.91 on Friday and as more funds were sold than bought.
Inflows of all currencies into Jamaica’s forex market ended on Monday at US$46.95 million compared to Friday’s US$37.34 million, while dealers sold US$ 53.91 million versus US$37.23 million, previously.
US currency purchases, accounted for US$43.78 million of the total inflows, at an average of J$128.48 versus J$128.49 for US$28.65 million on Friday, while dealers sold US$52.12 million compared to US$30.35 million previously.
The selling rate for the Canadian dollar dropped to J$102.48 from J$105.10 at the close on Friday. The British Pound dropped to J$171.50 for buying the British currency versus J$173.88 previously and the euro declined in value against the Jamaican dollar, with it taking J$151.84 to buy the European common currency, versus J$152.45, previously.
Profit doubles at Palace
After accounting for $9 million in taxation, the company ended with nearly $33 million in profit or $22.97 per share. The operation generated $72 million in cash for the year, an improvement from $48 million in 2016.
Revenues from box office, rose by 7.5 percent at the Carib cinema, 8.3 percent at Cineplex and 10 percent at Montego Bay Multiplex. Overall revenues from box office, confectionaries sales, screen advertising and others rose a strong 14.5 percent at Carib, 9 percent in Montego Bay and 7.2 percent at Cineplex, all ahead of inflation of 4.4 percent for the period. Based on the trend in revenue growth, fiscal year 2018 should see $100 million increase and profit per share rising to $50, assuming good quality box office offerings during the period. Pickup in economic activity is great for the company, as its patrons will have more disposable income from increased employment and the recent reduction of taxation on their income and relatively low inflation.
Depreciation remained relatively steady at $33 million while administrative cost grew a mere $3 million to $171 million.
At end of June, Palace had cash funds of $141 million and quoted equity of $16 million, up from $100 million and $15 million respectively in 2016. Only $29 million is in borrowed funds while working capital stood at $122 million, a great improvement over the $76 million at June 2016.
The stock is listed on the Jamaica Stock Exchange and last traded at $550, earlier this year and now boast a price earnings ratio based on the above forecast of 11.