Archives for February 2018

JSE main market lost ground – Thursday

February 1, 2018 by IC Insider.com

JMMB Group had most shares trading on Thursday.

The Main Market of the Jamaica Stock Exchange ended on Thursday with the JSE All Jamaican Composite Index falling by 791.51 points to 315,155.86 and the JSE Index declining 721.16 points to 287,142.63.
Main and US market activities ended with 10 stocks rising, 11 declining and 6 trading firm as 24 securities traded, versus 29 on Wednesday, including 1 from the US market.
Main market activity ended with 5,854,377 shares valued at $100,038,878 trading, in contrast with 17,559,021 shares valued at $97,721,084 on Wednesday.
The US market traded 39,500 units with a value of US$9,085 with the JSE US Equities Index gained 2.24 points to end at 174.33. Trading ended with Proven Investments exchanging 39,500 ordinary shares, at 22.5 US cents.
Market activity ended with an average of 254,538 units valued at an average of $4,349,516 for each security traded, in contrast to 650,334 units for an average of $3,619,299 on Wednesday.

January closed with average of 239,900 units valued at $5,158,193 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 2 with lower offers.
Major price changes at the close of the market are, PanJam Investment lost $1.50 and Seprod jumped $3.50. The volume traded was dominated by JMMB Group that closed with 1,540,700 shares, Sagicor Real Estate Fund with 1,071,797 units and Wisynco Group trading 1,495,101 units and fell $1.68.

For more details of market activities see – Trading volume falls on JSE – Thursday.

Local dollar now $125.6 to US$ – Thursday

February 1, 2018 by IC Insider.com

The Jamaican dollar rose 22 cents from Wednesday’s closing selling rate to remain above J$125, to the United States currency in foreign exchange trading on Thursday, but the buying rate inched higher by 19 cents.
Inflows of all currencies, totaled US$38.16 million, versus US$43.18 million on Wednesday with the selling of US$35.73 million down from US$39.60 million on Wednesday.
In US dollar trading, dealers sold US$33.65 million at an average of $125.61 at the close, compared to US$37.66 million at an average of $125.39 on Wednesday. US currency purchases by dealers, amounted to US$35.20 million at an average of $124.23 at the close, compared to US$38.01 million at an average of $124.04.
At mid-day on Thursday dealers purchased US$9.76 million at an average rate of J$124.66 and sold US$9.68 million at an average of J$125.55. On Wednesday at midday dealers purchased US$13.89 million at an average rate of J$124.27 and sold US$6.36 million at an average of J$124.06.
The selling rate on Thursday, for the Canadian dollarclimbed to J$102.13 from J$100.73 at the close on Wednesday, the selling rate for the British Pound slipped to J$176.01 from J$176.58 previously and the euro rose in value against the Jamaican dollar at J$156.29 to buy the European common currency, versus the prior selling rate of J$155.33.

Filed Under: 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

Junior Market rose for 6 straight days

February 1, 2018 by IC Insider.com

Knutsford Express traded 10 million shares on Thursday.

The Junior Market recorded gains in the index each day since Monday January 22, to the close of Thursday with just a 2.24 points fall on January 24, breaking the trend. The market closed with a gain of 14.34 points to close at 2,936.55.
Market activities ended with the prices of 9 securities advanced, 6 declined and 7 remained unchanged.
At the close of market activities on, 22 securities changed hands, resulting in an exchange of 12,575,728 units valued at $149,826,461 compared to 4,216,943 units valued at $15,584,380 from 25 securities changing hands, on Wednesday. Knutsford Express traded 10,042,962 shares accounting for 80 percent of total volume traded.
Trading ended with an average of 571,624 units for an average of $6,810,294 in contrast to 168,678 units for an average of $623,375 on Wednesday. January closed with an average of 122,386 shares valued at $489,704 for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 3 stocks ending with the bid higher than the last selling price and 3 with lower offers.
At the close of the market, Access Financial closed with a loss of $2.60 at $45.40, with 200 shares trading, AMG Packaging ended at $2, with 149,481 stock units, CAC 2000 finished with a loss of 5 cents at $8.65, with 206 shares, Caribbean Producers rose 3 cents to close at $4.33, with 29,258 units, Derrimon Trading concluded trading 12 cents higher at $7.12, with 3,817 shares. Eppley settled at $12.50, with 4,789 units, Express Catering ended trading 45 cents higher at $4.95, with 46,343 shares, FosRich Group traded 20 cents higher at $2.70, with 99,079 shares, General Accident finished trading with a loss of 5 cents at $2.80, with 8,512 shares. GWest Corporation closed at $3.20, with 1,429,709 stock units, Honey Bun ended at $5, with 1,620 units, Jamaican Teas settled at $4.60, with 71,295 shares, Jetcon Corporation ended trading 10 cents higher at $4.60, with 9,500 stock units. Knutsford Express closed with a loss of $1 at $14, with 10,042,962 shares, Lasco Distributors ended 50 cents higher at $4.50, with 26,449 shares, Lasco Financial concluded trading 10 cents higher at $5.25, with 196,905 stock units, Lasco Manufacturing finished 10 cents higher at $4.50, with 346,468 units. Main Event settled at $5.70, with 1,594 shares, Paramount Trading traded at $3.40, with 12,000 shares, Stationery and Office finished trading with a loss of 5 cents at $5, with 23,781 stock units and tTech ended 5 cents higher at $6, with 7,500 shares. In the junior market preference segment, Eppley 8.25% concluded trading with a loss of 40 cents at 52 weeks’ low of $5, with 64,260 units changing hands.
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: Access Financial, AMG Packaging, CAC2000, Caribbean Producers, Consolidated Bakeries, Daily Trading, Derrimon Trading, Emerging markets, Eppley, Express Catering, FosRich, GWest, Honey Bun, Jamaica Stock Exchange, Jamaican Stock, Jamaican Teas, Jetcon Corporation, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Main Event, Medical Disposables, Paramount Trading, Stationery and Office, Trading Activity, tTech

2 Trinidad stocks rise 6 fall on Thursday

February 1, 2018 by IC Insider.com

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Market activity on the Trinidad & Tobago Stock Exchange ended on Thursday, with trading in 15 securities, against 16 on Wednesday, with 2 stocks advancing, 6 declining and 7 remaining unchanged.
At close the Composite Index rose 1.68 points to 1,274.21, the All T&T Indexgained 3.03 points to 1,706.80, while Cross Listed Index closed added just 0.04 points to end at 113.57.
Market activity ended with 128,336 shares with a value of $4,248,142 traded, compared to 334,468 shares with a value of $9,456,041 on Wednesday.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 6 stocks ended with bids higher than their last selling prices and 8 with lower offers.
Gains| Ansa Mcal closed at $61, with 200 units and Unilever Caribbean ended trading with an increase of 1 cent to close at $29, trading 320 shares.
Losses| First Citizens closed with a loss of 1 cent at $32, trading 53,628 shares, National Flour share fell 4 cents, in finishing at $1.95, with 5,000 shares trading, Sagicor Financial closed with a fall of 1 cent to $7.89, with 2,565 units changing hands. Scotiabank finished 69 cents lower to close trading at $61.31, with 1,005 stock units changing hands, Trinidad & Tobago NGL shed 3 cents and ended at $26.51, with 10,323 units and West Indian Tobacco finished trading with a loss of 1 cent and ended at $88.50, with 2,650 stock units changing hands.
Firm Traded| Agostini’s closed trading with 196 shares at $20.76, Clico Investments ended at $20.50, with 3,643 units, JMMB Group finished at $1.85, with 6,000 stock units changing hands., Massy Holdings concluded trading at $47.49, with 2,532 units changing hands. National Enterprises ended at $9.67, with 2,000 units, NCB Financial Group closed at $6.60, in trading 23,223 shares and Republic Financial Holdings finished at $101.50, with 15,051 stock units changing hands.

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

Filed Under: Stock Market, TTSE Market Tagged With: Ansa Mcal, Daily Trading, Emerging markets, Emerging Stock, First Citizens, JMMB Group, Massy Holdings, National Enterprises, National Flour, NCB Financial Group, Republic Financial Holdings, Sagicor Financial, Scotiabank, Trading Activity, Trinidad & Tobago NGL, TTSE, Unilever Caribbean

Fitch upgrades Jamaica’s economic outlook

February 1, 2018 by IC Insider.com

International rating agency, Fitch Ratings, in their most recent rating on Jamaica, affirmed the country’s long-term foreign and local currency Issuer Default Ratings at ‘B’ and revised the outlook from “Stable” to “Positive”.
According to information released by the Ministry of Finance, the rating action was predicated on the improvements in the macroeconomic and fiscal indicators. The ratings were also supported by the country’s structural strengths, such as relatively high income per capita and social indicators, policy consensus and relatively strong institutional capacity.
The press release highlighted a number of positives which led to latest positive ratings. The factors are macroeconomic stability continues to improve, the public debt to GDP ratio continues on a downward trajectory, Government is on course to record another primary fiscal surplus of around 7 percent of GDP for the current fiscal year, which is equivalent to an overall balanced budget. The other factors are, appreciation of Jamaica dollar relative to the US dollar, Bank of Jamaica benchmark overnight rates have been lowered, external finances are on a sustainable path and external liquidity has improved.