Archives for January 2018

Main market dropped on Friday

January 26, 2018 by

Trading on the Main Market of the Jamaica Stock Exchange ended on Friday with JSE All Jamaican Composite Index down 1,561.89 points to 312,211.91 and the JSE Index falling by 1,423.06 points to 284,460.36, even as declining stocks edged out those rising.
Main and US market activities ended with 7 stocks rising, 8 declining and 11 trading firm as 26 securities traded versus 24 on Thursday including 1 from the US market.
Main market activity ended with slightly more volume than on Thursday with 2,638,664 shares valued at $47,864,816 traded, in contrast to 2,456,156 shares valued at only $27,810,830 on Thursday.
Trading in the US dollar market ended with Proven Investments trading 44,000 ordinary shares with a value of US$10,120 at 23 US cents. The JSE US Equities Index closed with a rise of 1.21 points to end at 172.47.
Trading ended with an average of 105,547 units for an average of $1,914,593 in contrast to 106,789 units for an average of $1,209,167 on Thursday. The average volume and value for the month to date amounts to 228,507 units valued at $5,313,035 and previously 234,872 units valued at $5,499,353. December closed with average of 686,156 units valued at an average of $8,654,832 for each security traded.
IC bid-offer Indicator| At the end of trading in the main and the US dollar markets, the Investor’s Choice bid-offer indicator reading shows 10 stocks ended with bids higher than their last selling prices and 1 with a lower offer.
Major price changes, Jamaica Producers lost $1 to $16, NCB Financial fell 85 cents to end at $100 and Scotia Group fell $1.50 to $51.

For more details of market activities see –JSE trading levels rise – Friday

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

JSE trading levels rise – Friday

January 26, 2018 by

Trading activity on the main market ended on Friday closed as 25 securities changed hands, leading to trading of 2,638,664 shares valued at $47,864,816, compared to 2,456,156 shares valued at $27,810,830 on Thursday.
Market activities ended with the prices of 7 stocks rising, 8 declining and 10 trading firm. At the close of the market the JSE All Jamaican Composite Index dropped 1,561.89 points to 312,211.91 and the JSE Index fell by 1,423.06 points to 284,460.36.
In main market activity, Berger Paints closed 50 cents higher at $17.50, with 8,805 shares, Cable & Wireless concluded trading at $1.35, with 44,595 units, Carreras finished 1 cent higher at $11.30, with 747,503 shares, Ciboney Group ended trading at 22 cents, with 25,000 shares, Grace Kennedy traded 60 cents higher at $43.10, with 52,300 stock units. Jamaica Producers closed with a loss of $1 at $16, with 1,643 shares, Jamaica Stock Exchange ended at $7, with 8,268 shares, JMMB Group concluded trading at $25, with 104,692 shares, Kingston Wharves settled 78 cents higher at $33.50, with 530 units. Mayberry Investments ended trading 15 cents higher at $5.75, with 20,566 shares, NCB Financial Group traded with a loss of 85 cents at $100, with 148,370 shares, 138 Student Living ended at $6, with 4,000 shares, PanJam Investment ended with a loss of 50 cents at $40, with 38,200 units, Pulse Investments finished with a loss of 4 cents at $1.95, with 14,423 shares. Radio Jamaica settled at $1.10, with 10,800 shares, Sagicor Group ended trading 45 cents higher at $35.20, with 42,625 stock units, Sagicor Real Estate Fund ended trading with a loss of 29 cents at $14.20, with 38,692 shares. Scotia Group finished trading with a loss of $1.50 at $51, with 168,778 shares, Seprod closed at $29.50, with 2,689 shares. Sterling Investments ended at $13, with 5,200 shares, Supreme Ventures concluded trading with a loss of 5 cents at $11.50, with 62,339 stock units, Victoria Mutual Investments finished 6 cents higher at $4.12, with 788,378 units, Wisynco Group settled with a loss of 50 cents at $10.20, with 295,467 shares and In the main market preference segment, Jamaica Money Market Broker 7.25% ended trading at $2.49, with 2,140 shares and Jamaica Money Market Brokers 7.5% traded at $2, with 2,661 stock units.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “Main market dropped on Friday.”

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

Demand drops for US$ for week

January 26, 2018 by

Inflows of all currencies totaled US$37.1 million on Friday versus US$34.75 million on Thursday with the selling of US$29.06 million down from US$40.80 million on Thursday. For the week inflows were slightly higher than for the previous week at US$166 million, while outflows declined sharply to US$162 million from $191 the week before.
In foreign exchange trading on Friday, the Jamaican dollar remained above J$125 to the United States currency, with just a 1 cent rise in the rate over Thursday’s close. The local dollar rose against the Canadian dollar and the British Pound and fell against
In US dollar, trading, dealers sold US$27.72 million at an average of $125.11 at the close, compared to US$35.54 million at an average of $125.10 on Thursday. US currency purchases by dealers, amounted to US$32.76 million at an average of $123.87 at the close, compared US$30.83 million at an average of $123.83.
On Friday at midday dealers purchased US$12.6 million at an average rate of J$124.13 and sold US$8 million at an average of J$124.91.
The selling rate for the Canadian dollar dropped to J$100.78 from J$105.41 at the close on Thursday. The selling rate for the British Pound fell on Friday, to J$177.56 from J$178.16 previously and the euro rose in value against the Jamaican dollar at J$154.10 to buy the European common currency, versus the prior selling rate of J$152.48.

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

Ganja story pushes Junior Market higher

January 26, 2018 by
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Lasco Manufacturing pushes Junior market index.

The Junior Market index rose 16.44 points to close at 2,763.53 at the end on Friday as a report that Lasco Manufacturing has set up a subsidiary to produce medicinal marijuana products in joint venture with an overseas partner.
Lasco Manufacturing is the most heavily weighted in the junior market index rose by 25 cents to help the market a nice bounce by contributing around 24 points to the market. At the close of trading the prices of 9 securities advanced, 7 declined and 6 remained unchanged.
At the close of market activities, trading ended with an exchange of 3,500,362 units valued at $13,179,651 with 22 securities changing hands, compared to 1,399,820 units valued at $5,859,024 from 19 securities changing hands, on Thursday.
Trading ended with an average of 159,107 units for an average of $599,075 in contrast to 73,675 units for an average of $308,370 on Thursday. For the month to date an average of 102,949 shares valued at $407,835 and previously, an average of 99,868 shares valued at $397,343. December closed with an average of 568,732 units valued at $3,447,957 for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 5 stocks ending with the bid higher than the last selling price and 4 with lower offers.
At the close of the market, AMG Packaging ended unchanged at $2.40, with just 100 stock units, CAC 2000 finished 10 cents higher at $8.50, trading 22,794 shares, Cargo Handlers settled 5 cents higher at $10.05, with 1,416 shares, Caribbean Cream ended trading 9 cents higher at $5.09, with 87,159 shares, Caribbean Producers finished trading with a loss of 20 cents at $4.30, with 153,893 units. Consolidated Bakeries closed with a loss of 26 cents at $2.18, with a mere 229 shares, Derrimon Trading concluded trading 10 cents higher at $7.10, with 4,337 shares, Dolphin Cove finished 50 cents higher at $16.90, with 33,102 stock units, Express Catering ended trading at $4.50, with 2,594 shares. FosRich Group traded at $2.61, with 15,337 shares, General Accident finished trading with a loss of 10 cents at $2.85, with 344,978 shares, GWest Corporation closed 30 cents higher at $2.90, in trading 1,219,959 stock units, Honey Bun ended with a loss of 18 cents at $4.32, with 18,500 units. Jamaican Teas settled 10 cents higher at $4.60, with 36,839 shares, Jetcon Corporation ended trading 40 cents higher at $4.50, with 7,541 stock units, Lasco Distributors ended at $3.50, with 704,191 shares, Lasco Financial concluded trading with a loss of 5 cents at $5.40, with 22,700 stock units. Lasco Manufacturing finished 25 cents higher at $4, to end with 133,300 units changing hands, after a newspaper article reported that they are going into the production of medicine from Ganja, subject to the receipt of license. Main Event settled at $6.20, with 14,501 shares, Medical Disposables ended trading with a loss of 1 cent at $4.95, with 213,000 shares, Paramount Trading traded with a loss of 3 cents at $3.45, with 192 shares and Stationery and Office finished trading at $5, with 463,700 stock units.
Prices of securities trading for the day are those at which the last trade took place.

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

Trinidad stocks fall slightly – Friday

January 26, 2018 by

At close of trading on the Trinidad & Tobago Stock Exchange on Thursday, 16 securities changed hands against 15 on Friday, with 2 stocks advancing, 3 declining and 11 remaining unchanged.
At close the Composite Index fell 0.33 points on Friday to 1,272.21, the All T&T Index slipped 0.72 points higher to 1,704.18, while Cross Listed Index declined 0.01 points to close at 113.39.
Market activity ended with a mere 153,453 shares with a value of $1,756,529, traded, compared to 433,788 shares with a value of $4,867,761 on Thursday.

IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 4 stocks ended with bids higher than their last selling prices and 5 with lower offers.
Gains| Massy Holdings gained 50 cents and ended at $47.50, with 162 stock units and National Flour gained 7 cents and closed at $1.99, trading 59,599 shares.
Losses| First Citizens ended trading 15 cents lower at $32, trading 2,600 shares, One Caribbean concluded trading with a loss of 1 cent at $13.05, with 8,992 stock units and Scotiabank closed with a fall of 10 cents and ended at $61.15, with 6,302 stock units.
Firm Traded| Ansa Mcal ended at $60, with 1,740 units, Clico Investments finished at $20.99, with 1,708 units trading, Grace Kennedy concluded at $3.45, with 10,000 units, Guardian Holdings ended at $17, trading 5,100 shares, JMMB Group closed at $1.81, with 8,668 stock units. NCB Financial Group ended at $6.60, trading 30,596 shares, Republic Financial Group closed at $101.50, with 919 stock units, Sagicor Financial ended at $7.90, with 2,287 units, Trinidad & Tobago NGL finished at $27.50, with 9,116 units. Trinidad Cement close at $3.75, trading 3,519 shares and West Indian Tobacco finished at $88.50, with 2,145 stock units trading.

Prices of securities trading for the day are those at which the last trade took place.

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

Republic Financial reports more profit

January 26, 2018 by

Republic Bank pretax profit rise 8% in Q1.

Trinidad’s Republic Financial Holdings reported net profit of $340 million for the quarter ended December 2017. Profit after tax increased a mere 3 percent or $10 million over 2016.
Revenues net of interest cost rose 13 percent to $560 million from $496 million in 2016 and profit before tax rose 8 percent to $508 million, but increase taxation in the quarter reduced the net results.
According to the directors, the improved results came from better performance in the overseas territories while results in Trinidad and Tobago declined due to a $34 million increase in loan loss provision.
Segment results were mixed with Trinidad and Tobago contributing flat results of $1.08 billion. Barbados rose from $55 million to $102 million. Guyana fell from $39 million to $34 million. Cayman, Suriname and the Eastern Caribbean continues contributed $55 million versus $40 million in 2016 and Ghana jumped from just $724,000 to $31 million.
The performance also benefitted by a reduction in operating expenses that fell from $698 million to $667 million.
Loans net of loan loss provisions, grew 6 percent to $37 billion from $34.8 billion in 2016 and from $35.5 billion at the end of September 2017. Republic closed on the Trinidad Stock Exchange at $101.50 on Thursday with a PE ratio of 12.
All figures are in TT$

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

NCB reports 28% profit growth but..

January 26, 2018 by

NCB Financial Group reported net profit of $4.6 billion for the quarter ended December 2017 and hiked their dividend. Profit increased 28 percent or $1 billion over 2016. Revenues net of interest cost rose 17 percent to $16.7 billion from $14.2 billion in 2016.
On the surface the gains in profit sounds great, but closer examination reveals that $1.5 billion comes from a one off gain resulting from the acquisition of majority shares in Clarien. The group incurred cost associated with staff separation that help swell staff cost to $5.9 billion from $3.75 billion in 2016 while Policyholders’ and annuitants’ benefits and reserves rose from $1.03 billion in the first quarter of 2016 to $1.78 billion.
Return on average equity increased to 15.7 percent from 14.0 percent in 2016. Net loans grew 63 percent to $322.4 billion from $197.9 billion and from $218.6 billion at the end of September 2017. Growth was due to the consolidation of Clarien Group, accounting for $93 billion and increases in retail loan portfolio
Segment results were mixed with consumer and small and medium enterprise Retail and SME being worse off in 2017 than 2016 by $290 million and Payment Services for the sector increasing profit by $325 million to $1.2 billion. Corporate banking enjoyed lower operating profit of $95 million leading to $710 million in the quarter, Treasury & Correspondent Banking was virtually flat at $1.6 billion. Wealth, Asset Management and Investment Banking grew strongly by $440 million to $1.2 billion, Life and Pensions had strong growth of $438 million to $1.3 billion but general Insurance was $536 million worse off in ending with a loss of $108 million.
NCB hiked interim dividend to 70 cents per share up from 60 cents in 2017. The dividend is payable on February 26, for stockholders on record as at February 9, 2018.
NCB Financial, closed at J$100.85 trading 59,911 shares on the Jamaica Stock Exchange and TT$6.60 ($J$123) trading 261,082 shares, on the Trinidad and Tobago Exchange on Thursday.

Filed Under: Company News, Company Results

Main market gains on Thursday

January 25, 2018 by

Trading on the Main Market of the Jamaica Stock Exchange ended on Thursday with JSE All Jamaican Composite Index climbed 949.83 points to 313,773.80 and the JSE Index rose 865.40 points to 285,883.42 even as declining stocks edged out those rising.
Main and US market activities ended with 8 stocks rising, 10 declining and 6 trading firm as 24 securities traded versus 29 on Tuesday including 1 in the US market.
Main market activity ended with slightly more volume than on Wednesday with 2,456,156 shares valued at only $27,810,830 traded, in contrast to 2,074,587 shares valued at $32,079,634 on Wednesday.
Trading in the US dollar market ended with Proven Investments trading 1,014,550 ordinary shares with a value of US at 23 US cents after gaining 1 cent. The JSE US Equities Index closed with a rise of 1.21 points to end at 172.47.
Trading ended with an average of 106,789 units for an average of $1,209,167 in contrast to 74,092 units for an average of $1,145,701 on Wednesday. The average volume and value for the month to date amounts to 234,872 units valued at $5,499,353 and previously 241,276 units valued at $5,727,239. December closed with average of 686,156 units valued at an average of $8,654,832 for each security traded.
IC bid-offer Indicator| At the end of trading in the main and the US dollar markets, the Investor’s Choice bid-offer indicator reading shows 9 stocks ended with bids higher than their last selling prices and 1 with a lower offer.
Major price changes, Berger Paints falling 90 cents to $17, Jamaica Producers gained $1.50 to $17, NCB Financial rose 85 cents to end at $100.85, PanJam Investment ended $1.50 higher at $40.50 and Sagicor Group lost 75 cents at $34.75.

For more details of market activities see – Declining stocks edged out rising ones

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

Declining stocks edged out rising ones

January 25, 2018 by

Trading activity on the main market ended on Thursday closed as 23 securities changed hands, leading to trading of 2,456,156 units valued at $27,810,830.  
Trading ended with the prices of 7 stocks rising, 10 declining and 6 trading firm as the JSE All Jamaican Composite Index rose 949.83 points to 313,773.80 and the JSE Index advanced by 865.40 points to 285,883.42.
In main market activity, Berger Paints closed with a loss of 90 cents at $17, with 7,900 shares, Barita Investments ended 50 cents higher at $8, with 14,825 stock units, Cable & Wireless concluded trading with a loss of 1 cent at $1.35, with 830,321 units, Carreras finished with a loss of 8 cents at $11.29, with 310,261 shares, Ciboney Group ended trading 1 cent higher at 22 cents, with 3,200 shares. Grace Kennedy traded with a loss of 25 cents at $42.50, with 157,692 stock units, Jamaica Broilers finished trading at $18, with 1,835 units, Jamaica Producers closed $1.50 higher at $17, with 57,020 shares, Jamaica Stock Exchange ended 10 cents higher at $7, with 28,000 shares. JMMB Group concluded trading at $25, with 68,965 shares, Mayberry Investments ended trading with a loss of 35 cents at $5.60, with 4,080 shares, NCB Financial Group traded 85 cents higher at $100.85, with 59,911 shares, 1834 Investments finished trading at $1.20, with 500 shares. PanJam Investment ended $1.50 higher at $40.50, with 5,750 units, Radio Jamaica settled 5 cents higher at $1.10, with 440,000 shares, Sagicor Group ended trading with a loss of 75 cents at $34.75, with 78,695 stock units, Scotia Group finished trading with a loss of 45 cents at $52.50, with 29,435 shares. Sagicor Real Estate Fund ended trading with a loss of 1 cent at $14.49, with 1,000 shares, Seprod closed at $29.50, with 329 shares, Supreme Ventures concluded trading with a loss of 43 cents at $11.55, with 5,051 stock units,  Victoria Mutual Investments finished with a loss of 5 cents at $4.06, with 215,320 units and Wisynco Group settled at $10.70, with 127,568 shares and . In the main market preference segment, Jamaica Money Market Brkers 7.5% traded 8,498 stock units at $2.

Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “Main market gains on Thursday.”

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

Jamaican$ up against 2 down vs 2

January 25, 2018 by

In foreign exchange trading on Thursday, the Jamaican dollar remained above J$125 to the United States currency, but with an improvement in the rate even as outflows were more than inflows. Canadian dollar and the British Pound and rose against the>euro.
Inflows of all currencies totaled US$34.75 million, versus US$45.09 million on Wednesday with the selling of US$40.80 million down from US$42.65 million on Wednesday.
In US dollar, trading, dealers sold US$35.54 million at an average of $125.10 at the close, compared to US$36.10 million at an average of $125.29 on Wednesday. US currency purchases by dealers, amounted to US$30.83 million at an average of $123.83 at the close, compared US$40.56 million at an average of $124.11.
The selling rate for the Canadian dollar rose to J$105.41 from J$104.62 at the close on Wednesday. The selling rate for the British Pound climbed on Thursday, to J$178.16 from J$175.01 previously and the euro fell in value against the Jamaican dollar at J$152.48 to buy the European common currency, versus the prior selling rate of J$154.92.

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