Archives for June 2019

Big jump in TTSE indices on Friday

Trinidad & Tobago Stock Exchange Head Quarters

The Trinidad & Tobago Stock Exchange closed higher at the close on Friday with the three main market indices rising, with 6 stocks advancing and 5 declining.
Five stocks remained unchanged as market activity ended with 16 securities trading from 17 securities trading on Tuesday, with the market closed on Wednesday and Thursday, as 158,996 shares valued $3,056,868 changed hands, compared to 201,914 shares valued $3,914,187.
At close of the market, the Composite Index jumped 15.88 points on Friday to 1,374.31. The All T&T Index gained 1.63 points to 1,802.66, while the Cross Listed Index rose 4.17 points to close at 127.77.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with one stock with a higher bid than the last selling price and one with a lower offer.
Stocks ending with gains| First Caribbean International Bank added 17 cents and ended at $8.37, with 5,000 stock units changing hands, Guardian Holdings rose 10 cents and ended at $18.30, with an exchange of 20,000 stock units, JMMB Group rose 2 cents to $2.05, in trading 10,000 stock units. NCB Financial Group climbed 55 cents to settle at 52 weeks’ high of $9, with 7,361 units crossing the exchange, Republic Financial Holdings rose 12 cents to settle at $121.12, with 566 units trading and Sagicor Financial gained 15 cents to close at $9.80, with investors exchanging 33,016 shares.
Stocks closing with losses| Clico Investments lost 5 cents to end at $24.35, with 6,226 units changing hands, First Citizens lost 25 cents in completing trading of 140 shares, at $39.75, Grace Kennedy concluded trading of 7,980 shares and lost 10 cents to close at $3.15. National Enterprises lost 2 cents and ended at $6.66, with an exchange of 2,027 stock units, Trinidad & Tobago NGL lost 2 cents to close at $29, after exchanging 57,540 shares.
Stocks closing firm| Massy Holdings settled at $55, trading 370 units, National Flour completed trading 2,000 units at $1.70, One Caribbean Media ended at $10.20, with investors exchanging 238 shares, Scotiabank ended at $62.50, with 4,532 stock units crossing the exchange and Trinidad Cement ended trading 2,000 shares and settled at $2.50.

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

Record 507,000 points for All Jamaica

The JSE All Jamaican Composite Index surged 13,935.32 points to a record intraday high of 507,044.4 while the JSE Index jumped 12,663.55 points to a new high of 461,759.26 in Friday’s trading session.
The sharp rise in the market indices was fueled primarily by a big surge in NCB Financial Group shares that raced to $200 at one stage and Scotia Group that traded as high as $59.60.
NCB Financial traded 12.98 million shares an now trades at $198.99.

NCB Financial traded at $200

NCB Financial traded at a record high of $200.

NCB Financial traded at a record high of $200 in the morning session of the Jamaica Stock Exchange, on Friday.
The stock now trades at $191.01 and helped in pushing the market indices into record territory, just shy of the 500,000 mark on the All Jamaican Composie Index, with that index reaached 497,715.29, having risen 4,606.16 points, just after mid-day.
NCB Financial has been trading unusually large volumes this week and so far traded 5,062,371 shares before 12:30 pm. Since then the stock went on to trade nearly 13 million units up to 12:45 PM, with last traded price sitting at $192. Wigton Windfarm traded the highest volume with 41.85 million units passing through the market with the last traded price at 86 cents.

JSE majors jump to new record – Friday

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New record high for the JSE main market.

NCB Financial Group raced to $190.20 and Scotia Group to $59.60 to help the JSE All Jamaican Composite Index climb 4,775.33 points to a record of 497,884.46 while the JSE Index jumped 4,339.53 points to a new high of 453,435.24 with 90 minutes of trading left in the day.
While the main market was hitting new highs, the Junior Market struggles with a decline of 16.04 points to 3,113.94.
The big trades so far are Wigton with 15.7 million shares, NCB with 5 million units and in the Junior Market Lasco Finance with 1 million shares and Lasco Manufacturing 1.73 million shares. Subsequent to 11:30 am, NCB traded up to $193.

JSE majors jumped sharply to new record

The JSE All Jamaican Composite Index surged 6,329.49 points to a record close of 493,109.13 and the JSE Index jumped 5,751.84 points to close at points to a new closing high of 449,095.71.
At the end market activity, on the main and US markets, the prices of 17 securities advanced, 10 declined and 14 traded firm, as a total of 41 securities traded, compared to 35 on Wednesday.
Eppley ordinary share traded at a new high of $16.01 but closed lower at the end of the day but the Jamaica Stock Exchange shares surged to a new high of $26.40 and closed at new all-time highs of $24.21 as the volume and value trading in the overall market, soared since Wigton Windfarm listed. Sygnus Credit Investments US denominated stock, traded in the regular market, at a new high of $13.06.  Eppley 8.75% preference shares closed at a 52 weeks’ low of $5.80.
Market activity ended with 100,042,177 units with a value of $2,008,625,701 changing hands, in contrast to 45,741,770 units with a value of $2,118,495,057 on Wednesday.
Wigton Windfarm led trading with 80 million units or 80 percent of total main market volume, NCB Financial Group  with just over 8.8 million shares changing hands, equating to 9 percent of total trades, followed by Grace Kennedy with 4 million stock units for 4 percent of the day’s trades.
The market closed with average of 2,565,184 units valued at $51,503,223 for each security traded. In contrast to 1,386,114 units valued at $64,196,820 on Wednesday. The average volume and value for the month to date amounts to 1,560,748 shares, with a value of $19,229,647, compared to 1,475,774 shares, with a value of $16,281,943 previously. May closed with an average of 2,248,261 units at an average of $12,751,529 for each security traded.
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 3 closing with lower offers.
At the close of the market, Barita Investments rose 50 cents and closed at $44.50, trading 9,818 shares, Caribbean Cement gained 50 cents in trading of 22,269 units at $79.50, Grace Kennedy Jumped $3.90 to $64 while trading 4,067,607 shares, Jamaica Broilers traded 14,164 units and gained $1 to end at $32. Jamaica Producers rose $1.50 to close at $27, with 17,671 shares changing hands, Jamaica Stock Exchange jumped $2.21 to end at a record high of $24.21, with 140,731 shares trading, JMMB Group lost $1.50 trading 93,690 shares to end at $37.50, Kingston Wharves gained $2 to close at $68, in swapping 6,235 stock units. Mayberry Investments lost 30 cents with an exchange of 16,840 shares at $8.85, Mayberry Jamaican Equities shed $1 to end trading of 43,192 shares at $11.25, NCB Financial Group jumped $2 to close at $180, with an exchange of 8,791,789 stock units, Portland JSX gained 60 cents trading 2,574 shares to close at $8.50. Proven Investments gained $1.50 while trading 7,556 shares to close at $35, Sagicor Group jumped $3 to finish at $51 with 12,286 shares crossing the exchange, Scotia Group rose 40 cents to $55.50, with an exchange of 149,977 shares. Supreme Ventures declined 39 cents trading with 154,949 stock units to close at $28.50 and Sygnus Credit Investments US denominated stock, traded in the regular market, at a new high of $13.06 after jumping $1.64 with an exchange of 794,875 shares.
Trading in the US securities market resulted in 92,892 units valued $27,059 changing hands. Market activity ended with Proven Investments trading 88,300 shares to close at 26 US cents and JMMB Group 6% preference share ended trading of 4,592 units at US$1. The JSE USD Equities Index lost 2.11 points to close at 188.97.

High level of Junior Market trading – Thursday

Honey Bun ended at a 52 week’s closing high on Thursday.

Trading on the Junior Market of the Jamaica Stock Exchange closed on Thursday with 34 securities changing hands up from 25 on Wednesday
The market Index rose 31.02 points to close at 3,129.98 as the prices of 19 securities advanced, 8 declined and 7 remained unchanged.
The market closed with, an exchange of 8,504,010 units valued at $31,076,711 compared to 1,780,876 units valued at $6,995,830 on Wednesday.
Trading ended with an average of 250,118 units for an average of $914,021 in contrast to 71,235 units for an average of $279,833 on Wednesday. The average volume and value for the month to date amounts to units 195,632 at $730,567, previously, 165,183 shares valued at $713,709. In contrast, May ended with an average of 81,626 units for $311,248 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 5 stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close of the market, AMG Packaging closed 1 cent higher at $2, in trading 90,810 stock units, Blue Power traded 34,108 shares at $4.50, CAC 2000 rose $1.24 in trading 345 shares to close at $14, Cargo Handlers ended trading with 1,100 shares, after rising 20 cents to end at $9.20. Caribbean Cream fell 39 cents to settle at $5.40 with an exchange of 13,700 shares, Caribbean Producers lost 15 cents trading 30,354 units at $4.75, Consolidated Bakeries closed trading of 117,929 units with a gain of 1 cent to end at $2. Derrimon Trading closed at $2.60 trading 64,000 shares, Dolphin Cove concluded trading of 1,230 shares with a rise of $1.25 to end at $11.75, Elite Diagnostic closed with a loss of 5 cents at $3.95, swapping of 21,074, shares, Everything Fresh traded 102,200 units to close at $1.47. Express Catering declined 10 cents to settle at $7 after exchanging 36,500 shares, FosRich Group dipped 15 cents in trading of 95,805 units at $4.85, Fontana closed 15 cents higher at $4.55, with 207,732 stock units trading, General Accident fell 5 cents in trading of 5,101,798 units at $4.15. GWest Corporation ended trading with 30,000 shares, after rising 9 cents to end at $1.15, Honey Bun closed trading of 98,562 units and gained 50 cents to end at record high of $7, iCreate climbed 1 cent and exchanged 105,757 shares in closing at 80 cents. Indies Pharma closed trading of 37,672 units after gaining 10 cents to end at $3.20, Iron Rock declined by 5 cents to settle at $3.50, in exchanging 41,210 shares, ISP Finance settled at $4.13 higher at $19.63 with just 398 units changing hands, Jamaican Teas closed trading of 21,000 units and gained 5 cents to end at $4.35. Jetcon Corporation closed trading of 155,708 units, rising 1 cent to end at $2. KLE Group exchanged 30,547 shares to close at $2.15, Knutsford Express closed trading of 3,478 units at $11, Lasco Distributors closed with a loss of 9 cents at $3.60 after swapping 52,667, shares. Lasco Financial ended trading with 73,387 shares, after rising 10 cents to end at $5.40, Lasco Manufacturing added 10 cents in exchanging 106,316 shares at $4.10, Main Event closed 40 cents higher at $5.90, with 170,410 stock units trading, Medical Disposables closed trading of 72,400 units at $7. Paramount Trading closed 3 cents higher at $2.03, trading 2,762 stock units, SSL Venture Capital ended trading with 1,542,184 shares, after rising 1 cent to end at $1.61, Stationery and Office ended trading of 40,567 shares, to end at $9.60 and tTech traded 300 shares, after rising 60 cents to end at $5.46.

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

Main Event growing for higher profits

Main Event revenues profit growing nciely.

Growth in revenues while not an exact proxy for increased profits is often a very good indicator of greater gains ahead. That may be exactly what is happening at the Junior Market listed Main Event.
That was the opening comments of IC Insider’s reporting on the nine months results for 2018. Nearly one year on, Main Event is quietly forging ahead with strong gains in sales and profit for the quarter ending April this year and slightly less growth for the six months period. The 2019 performance outdistance the modest rise in both revenues and profit for 2018.
Revenues for the July quarter last year, surged nearly 26 percent to $364 million, but profit fell 7 percent to $24.5 million and for the nine months to July, profit was up just 4 percent to $105.5 million flowing from a 13 percent rise in revenues to $1.07 billion.
For the current fiscal year, profit climbed 29 percent for the quarter to $62 million from $48 million in 2018. For the six months to April, profit rose a more moderate 15.4 percent to $92 million from $81 million in 2018.
Sales revenue rose 29 percent for the quarter, to $438 million from $341 million and is up 27.5 percent for the year to date, to $896 million from $702 million in 2018. Management in their report on the results states that, “revenue growth reflects higher volumes in the company’s core business as well as success with our new products while 13 percent of revenues or $118 million is attributed to the M-Style products and our presence in the West”
Gross profit grew much slower than revenues in the April quarter increasing 14.8 percent and 16.7 percent for the half of the year. Gross profit margin is still a healthy 47.5 percent in the latest quarter and 45.3 percent in the 2018, for the year to date period.

Three directors of Main Event, including the mentor who is respossible to ensure compliance with teh JSE rules.

Administrative and general expenses rose 14 percent to $116 million in the quarter and increased 23 percent in the six months period to $246 million. Marketing and sales expenses declined by from $7.7 million in the prior year’s quarter to $2.6 million in April 2019 and declined from $15.4 million in the six months period in 2018 to $8.6 million in 2019. Depreciation cost rose from $45 million for the half year to $55 million in 2019. Finance cost rose in the quarter, to $5.6 million from $5 million in 2018 and from $8.5 million to $9.4 million for the six months period.
Earnings per share came out at 20 cents for the quarter and 31 cents for the half year. Last year, figures for the nine months showed signs that profit would end up in the 40 cents region but foreign exchange and increased bad debt provisions resulted in a loss in the final quarter and earnings of just 32 cents per share. IC Insider.com is forecasting earnings around 75 cents the current fiscal year ending October and $1.50 per share for the 2020 fiscal year, giving it a PE of around 7 times 2019 earnings and just 3 times 2020 projected earnings.
Gross cash flow brought in $148 million but growth in receivables, inventories, addition to fixed assets offset by loan inflows and reduced payables pushed net cash intake down and liquid funds of $59 million at the end of April. At the end of April, shareholders’ equity stood at $616 million with borrowings at $295 million. Net current assets ended the period at $260 million inclusive of trade and other receivables of $354 million, cash and bank balances of $98 million. Current liabilities stood at $214 million at the end of April.

New closing high for JSE main stocks – Wednesday

The JSE All Jamaican Composite Index pushed 3,240.99 points to a new record close of 486,779.64 and the JSE Index climbed 2,945.21 points to a new closing high of 443,343.87.
At the end market activity, on the main and US markets, the prices of 18 securities advanced, 9 declined and 8 traded firm, as a total of 35 securities traded, compared to 37 on Tuesday. Eppley and the Jamaica Stock Exchange shares closed at new all-time highs.
Market activity ended with 45,741,770 units with a value of $2,118,495,057 changing hands, in contrast to 41,671,400 units with a value of $333,001,137 on Tuesday.
Wigton Windfarm led trading with 20.7 million units or 45 percent of total main market volume, Scotia Group with just over 10 million shares changing hands, equating to 22 percent of total trades, followed by NCB Financial Group with 8.14 million stock units for 18 percent of the day’s trades.
The market closed with average of 1,386,114 units valued at an average of $64,196,820 for each security traded. In contrast to 1,190,611 units for an average of $9,514,318 on Tuesday. The average volume and value for the month to date amounts to 1,475,774 shares, with a value of $16,281,943, compared to 1,482,687 shares, with a value of $12,268,768 previously. May closed with an average of 2,248,261 units at an average of $12,751,529 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 8 stocks ended with bids higher than their last selling prices and 2 closing with lower offers.
At the close of the market, Barita Investments rose $1 and closed at $44, trading 4,084 shares, Carreras rose 30 cents and concluded trading of 878,789 units at $8.20, Eppley rose 25 cents to an all-time high of $16 while trading 13,290 shares, Jamaica Broilers exchanged 2,484 units and gained $1 to end at $33. Jamaica Producers fell $1.30 to close at $25.50, with 8,589 shares changing hands, Jamaica Stock Exchange rose 25 cents to end at a record high of $22, with 2,358,881 shares traded, JMMB Group rose $1 in trading 72,416 shares to end at $39, Kingston Wharves slipped $1 to close at $66, in swapping 28,064 stock units. Mayberry Investments gained 65 cents with an exchange of 181,646 shares at $9.15, Mayberry Jamaican Equities added $1 to end trading of 24,764 shares at $12.25, NCB Financial Group jumped $5 to close at $178, with an exchange of 8,142,680 stock units, PanJam Investment climbed $1.49 to end trading of 990 shares at $95.99. Proven Investments declined $1.50 while trading 3,690 shares to close at $33.50, Pulse Investments rose 34 cents to close at $2.84, trading 20,000 shares. Sagicor Group finished trading at $48 with 340,467 shares crossing the exchange after falling 50 cents, Scotia Group climbed $1.90 to $55.10, with an exchange of 10,133,531 shares and Seprod declined $1 concluded trading with 103,100 stock units at $47.
Trading in the US securities market resulted in 40,000 units valued US$31,016 changing hands. Market activity ended with Proven Investments trading 12,000 shares after rising 0.06 cent to close at 26 US cents and JMMB Group 6% preference share ended trading of 28,000 units at US$1. The JSE USD Equities Index rose 1.74 points to close at 191.08.

Junior Market suffers big fall – Wednesday

Honey Bun ended at a 52 week’s closing high on Wednesday.


Trading on the Junior Market of the Jamaica Stock Exchange closed on Wednesday with the market Index dropping 34.35 points to close at 3,098.96 the prices of 11 securities advanced, 10 declined and 4 remained unchanged.
The market closed with 25 securities changing hands, resulting in an exchange of 1,780,876 units valued $6,995,830 compared to 1,355,631 units valued at $6,100,280 on Tuesday from 27 securities.
Trading ended with an average of 71,235 units for an average of $279,833 in contrast to 50,209 units for an average of $225,936 on Tuesday. The average volume and value for the month to date amounts to units 165,183 valued at $713,709 and previously 171,991 shares with a value of $745,149. In contrast, May closed with an average of 81,626 units for an average of $311,248 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 8 stocks ended with bids higher than their last selling prices and 6 with lower offers.
At the close of the market, AMG Packaging ended with a loss of 1 cent at 1.99 with 2,857 stock units changing hand, Cargo Handlers declined 20 cents to settle at $9 with an exchange of 2,354 shares, Caribbean Flavours traded 2,000 shares at $14.30, Caribbean Producers exchanged 12,415 shares to close unchanged at $4.90. Dolphin Cove dived $1.50 with an exchange of 12,415 shares to close at $10.50. Everything Fresh dipped 3 cents in trading of 46,966 units at $1.47, Elite Diagnostic climbed 5 cents and exchanged 2,252 shares at $4, Express Catering ended trading 41,238 shares, after rising 20 cents to end at $7.10, FosRich Group closed 4 cents higher at $5, with 11,700 stock units trading. Fontana ended trading 511,063 shares, after rising 1 cent to end at $4.40, GWest Corporation dipped 14 cents trading of 9,414 units at $1.06. Honey Bun closed 17 cents higher to end at a 52 weeks’ closing high of $6.50, with 107,746 stock units changing hands, iCreate traded 59,830 units in closing at 79 cents, Indies Pharma shed 20 cents in trading of 49,599 units at $3.10, Iron Rock closed at $3.55, trading 58,790 shares. Jamaican Teas lost 20 cents in trading of 59,159 units to close at $4.30, Jetcon Corporation climbed 4 cents and exchanged 4,800 shares at $1.99. Knutsford Express fell $1.50 in trading of 1,522 units at $11, Lasco Distributors ended trading of 5,754 shares, after rising 4 cents to end at $3.69, Lasco Financial rose 10 cents to end at $5.30, trading 6,289 shares, Lasco Manufacturing lost 1 cent to close at $4 with 143,555 stock units changing hands. Main Event climbed 5 cents while exchanging 12,566 shares at $5.50, Medical Disposables lost 50 cents trading of 37,743 units at $7 and Stationery and Office ended trading of 30,476 shares, after rising 10 cents to end at $9.60.

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

JSE pulls back from Tuesday’s record high

The JSE All Jamaican Composite Index climbed 3,373.63 points to reach an intraday record high of 487,004.99 just after 11 am on Tuesday, but the market failed to hold on to the early gains ending with a modest fall at the close.
At the close on Tuesday, the JSE All Jamaican Composite Index dipped 92.71 points to 483,538.65 and the JSE Index declined 84.25 points to 440,398.66.
At the end market activity, on the main and US markets, the prices of 12 securities advanced, 16 declined and 9 traded firm, as a total of 37 securities traded, compared to 33 on Monday. Eppley and the Jamaica Stock Exchange shares closed at new all-time highs. Market activity ended with 41,671,400 units with a value of $333,001,137 changing hands, in contrast to 77,902,533 units for $226,722,040 on Monday.
Wigton Windfarm led trading with 37.5 million units or 90 percent of total main market volume, NCB Financial Group with 1.4 million shares changing hands equating to 2.4 percent of total trades, followed by JMMB Group 7.5% preference share with 697,600 stock units and less than one percent of the day’s trades. In the US Market Proven Investments traded 8.77 shares and Sygnus Credit Investments 1.24 units.
The market closed with average of 1,190,611 units valued at $9,514,318, in contrast to 2,360,683 shares valued at $6,870,365 on Monday. The average volume and value for the month to date amounts to 1,482,687 shares, with a value of $12,268,768, compared to 1,508,699 shares, valued $12,537,308 previously. May closed with an average of 2,248,261 units at an average of $12,751,529 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 7 stocks ended with bids higher than their last selling prices and 2 closing with lower offers.
At the close of the market, Barita Investments lost 80 cents and closed at $43, trading 44,274 shares, Eppley jumped $3.75 to an all-time high of $15.75 while trading just 500 shares, Jamaica Broilers traded 33,470 units with a fall of $1.75 to end at $32. Jamaica Stock Exchange jumped $1.75 to end at a record high, of $21.75, with 162,124 shares trading, JMMB Group fell $1 trading 52,642 shares to end at $38, Kingston Properties lost 50 cents to finish at $6, with 15,244 stock units, Kingston Wharves climbed $2 to close at $67, in trading 3,250 stock units. Mayberry Investments gained 25 cents trading 2.942 shares at $8.50, NCB Financial Group lost 99 cents to close at $173, with an exchange of  1,429,495 stock units, Portland JSX lost 65 cents to settle at $7.85, trading 500 shares, PanJam Investment climbed $1 to conclude trading of 37,270 shares at $95. Pulse Investments fell 48 cents to close at $2.50, trading 190,101 shares. Salada Foods traded just 703 shares and declined $2.99 to close at $31.01, Scotia Group fell 30 cents to $53.20, with an exchange of 105,110 shares and Stanley Motta lost 50 to end at $48, in trading 33,968 shares.
Trading in the US securities market resulted in 10,005,524 units valued US$2,368,509 changing hands. Market activity ended with Proven Investments trading 8,765,244 shares after slipping 0.6 cent to close at 25.54 US cents and Sygnus Credit Investments gained 0.05 cents and ended trading of 1,240,280 units at US$1.05. The JSE USD Equities Index advanced 0.23 points to close at 189.34.