Jamaica Stock Exchange’s main market ended July with the 14th record close for the month and the 38th for 2019 and 38 percent gain for the year to date, to remain the world’s top-performing market for the past 12 months.
The market closed July with the JSE All Jamaican Composite Index jumping 7,284.40 points to a record close at 575,250.19 points, the JSE Index climbed 6,619.61 points to close at another high of 523,740.10 and the JSE Financial Index advanced by 1.02 points to close at 139.38.
Market activity, resulted in 40 securities trading in the main and US dollar markets, leading to 21 securities advancing, 11 declining and 8 trading firm, compared to 35 securities trading on Tuesday.
At the close of trading, Barita Investments inched higher to a record close of $95 after it rose to a high of $100, Victoria Mutual Investments ended at a record closing high of $8 and Sygnus Credit Investments closed at 52 weeks’ high of $22. Trading ended with 53,548,880 units valued at $758,601,832, compared to 184,796,002 units valued $1,610,513,368 changing hands on Tuesday.
Wigton Windfarm led trading with 24.8 million units for 46 percent of total volume, JMMB Group 7.5% followed with 10 million shares for 19 percent of the day’s volume and Sagicor Group with 7.9 million shares for 15 percent of total main market volume.
The market closed with average of 1,447,267 units valued at an average of $20,502,752 for each security traded. In contrast to 5,774,875 units for an average of $50,328,543 on Tuesday. The average volume and value for the month to date amounts to 1,297,718 shares valued at $17,985,644 changing hands, compared to 1,290,587 shares valued at $17,854,655 for each security traded. June closed with an average of 1,608,485 units valued at $19,605,318 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 6 stocks ending with bids higher than the last selling price and just 1 with a lower offer.
In the main market activity, Caribbean Cement fell $1.99 trading 161,377 units at $78, Eppley traded 7,553 after losing 50 cents to end at $16.40, Grace Kennedy lost $2 in the trading of 153,600 to close at $70, Jamaica Broilers exchanged 1,135,364 and rose $1.25 to close at $34. Jamaica Producers fell 50 cents trading 9,595 units to close at $28.50, JMMB Group gained $2 trading 107,504 shares to end at $53, Kingston Properties traded 141,647 shares and rose 50 cents to end at $6, Mayberry Investments fell 25 cents to close at $8.75 in trading 92,573 shares. Mayberry Jamaica Equities traded 3,752,372 to gain 50 cents and ended at $12.50, NCB Financial lost $2 exchanging 162,275 units to close $213, Proven Investments lost 70 cents trading 5,326 shares in closing at $35.80, Sagicor Group jumped $5 in trading 7,879,535 shares to close at a record high of $63. Sagicor Real Estate Fund climbed $1.98 to end at $12.99 while trading 102,792 shares, Scotia Group dipped 25 cents to close at $56 trading 109,341 shares, Seprod jumped $5 trading 13,758 units to close at $60. Sygnus Credit Investments jumped $3.50 trading of 109,800 units to end at a record high of $22, Victoria Mutual Investments traded 2,051,094 and gained 68 cents to end at a record high of $8 and Wisynco Group traded 214,850 but fell 49 cents to close at $27.50.
Productive Business Solution 9.5% preference share traded 83,400 units and gained $1.99 to end at $107.99.
Trading in the US securities market resulted in 19,171 units valued US$8,433 changing hands with, JMMB Group 6% preference share settled at $1 with 7,000 stock units trading, Proven Investments closed at 25 US cents with an exchange of 771 shares and Sygnus Credit Investments traded 11,4000 shares at 11 US cents. The JSE USD Equities Index shed 0.16 points to close at 187.25.
Archives for July 2019
Sedate trading on TTSE – Wednesday
Trinidad & Tobago Stock Exchange inched higher on Wednesday, with the Composite Index rising 1.51 points to 1,398.73. The All T&T Index added 3.04 points to end at 1,780.04, while the Cross Listed Index lost 0.01 points to close at 137.72.
Market activity ended with 14 securities changing hands against 17 on Tuesday, of which, 5 advanced, 3 declined and 6 remained unchanged. Trading ended with 173,952 shares at a value of $3,902,423 compared to 298,128 shares changing hands with a value of $4,548,413, on Tuesday.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 4 stocks closing with bids that were higher than their last selling prices and one with a lower offer.
Gains| Republic Financial rose 13 cents to settle at $121.33, in exchanging 50 units, Sagicor Financial closed with an increase of 10 cents at $10.10, with 17,077 units trading, Scotiabank climbed 75 cents and settled at $59.75, with investors exchanging 12,215 shares. Unilever Caribbean added 99 cents and settled at $25, with 1,584 stock units changing hands and West Indian Tobacco ended trading of 522 shares and rose 26 cents to close at $110.25.
Losses| Clico Investments Fund shed 5 cents and settled at $24.05, after exchanging 63,700 shares, First Citizens Bank dropped 5 cents and completed trading of 6,823 shares at $39.95 and Massy Holdings declined 51 cents and settled at $54.49, with investors exchanging 6,675 shares.
Firm Trades| First Caribbean International Bank ended at $8.34, with investors exchanging 2,000 shares, Guardian Media settled at $10.75, with 1,752 stock units changing hands, JMMB Group completed trading of 40,484 units at $2.50, National Flour closed at $1.69, with 200 units crossing the exchange. Trinidad Cement completed trading at $2.45, with investors exchanging 100 shares and Trinidad & Tobago NGL traded 20,770 units in closing at $28.30.
Prices of securities trading are those at which the last trade took place.
Carib Cement 2019 profit mixed
Caribbean Cement revenues climbed 5.6 percent in the June quarter to $4.68 billion and 4 percent year to June, with $9.13 billion booked.
The company reported lower profit the June quarter than in 2018, due mainly to $485 million incurred as foreign currency losses and ended up with profit after tax at $368 million versus $674 million in 2018. Or the half-year profit after tax grew 48.6 percent to $15 billion. The company reported earnings per share of 43 cents versus 79 cents in the similar quarter in 2018 and $1.76 compared to $1.18 in the 2018 six months period.
Expenses excluding depreciation and finance grew 2.7 percent for the quarter to $2.94 billion and fell 21 percent for the half-year to $5.47 billion. The sharp reduction in cost results from the termination of an equipment lease agreement with the parent company and the purchase of those assets. The acquisition of the assets drove depreciation charge for the quarter to $405 million from $340 million in 2018 and $796 million from $467 million for the six months periods. Finance cost including foreign exchange losses rose to $688 million from $412 million for the quarter and $856 million versus $386 million for the half-year.
The results boosted shareholders’ equity to $7.9 billion from $6.4 billion at the end of December last year as the company wiped out accumulated losses of $994 million at the end of 2018 leaving a surplus of $493 million. Borrowing amounts to $9.8 billion while cash funds amount to $394 million and net current assets stood at negative $759 million.
The stock trades at $80 on the Jamaica Stock Exchange main market. IC Insider.com projects earnings for the full year to December at $5 per share that would place the PE ratio at 16, just around the markets PE of 17. With the economy doing well and increased construction activities, investors should have their eyes focused on increased future earnings.
Sharp pullback of TTSE – Tuesday
Trinidad & Tobago Stock Exchange gave back all the gains recorded on Monday when trading closed Tuesday, without a stock rising.
The market closed with a big decline in the Composite Index of 19.16 points to 1,397.22, while the All T&T Index lost 2.76 points to 1,777, while the Cross Listed Index dropped 4.92 points to close at 137.73.
Market activity ended with 17 securities changing hands against 15 on Monday, of which, 4 declined and 13 remained unchanged. Trading ended with 298,128 shares changing hands with a value of $4,548,413 compared to 317,614 shares trading for $3,871,570, on Monday.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 5 stocks closing with bids that were higher than their last selling prices and 2 with lower offers.
Losses| Guardian Media dropped 25 cents, ending at a 52 weeks’ low of $10.75, with 100 shares crossing the exchange, NCB Financial fell 74 cents and settled at $10.01, with 15,000 stock units changing hands. Scotiabank closed with a loss of 75 cents at a 52 weeks’ low of $59 and 1,140 shares changing hands and Unilever Caribbean closed 97 cents down at $24.01 trading 4,877 stock units.
Firm Trades| Ansa Mcal completed trading at $55.21, with 26 units, Clico Investments Fund closed at $24.10, with 2,020 units crossing the exchange, First Citizens Bank settled at $40, with a mere 6 shares trading, Grace Kennedy concluded trading at $3.35, with 325 units crossing the exchange, Guardian Holdings settled at $18.50, with investors exchanging 49,780 shares. JMMB Group settled at $2.50, with an exchange of 16,105 units, Massy Holdings closed at $55, trading 4,503 stock units, National Flour ended at $1.69, with 24,519 stock units changing hands, Prestige Holdings settled at $9, after exchanging 2,809 shares. Republic Financial closed at $121.20, in trading 8,366 shares, Sagicor Financial settled at $10, after exchanging 162,050 shares, Trinidad & Tobago NGL traded 5,546 units to close at $28.30 and West Indian Tobacco ended trading 956 shares for 21 cents lower to $109.99.
Prices of securities trading are those at which the last trade took place.
Sagicor Group Q2 profit up 40%
For the six months to June net profit of $6.39 billion attributable to stockholders rose 21 percent over the similar period in 2018. Earnings per share come out at $1.64 per share for the half-year and 95 cents for the quarter.
According to the report accompanying the results, “the current year-to-date results benefited mainly from overall good new business and portfolio growth which were both better than the prior year. The 2018 numbers included large impairment charges on Government of Barbados and other bonds. There were other factors that influenced the outcome for the period, these include, The fluctuating rate of the Jamaican dollar to the US dollar which reached a decline of 5.5 percent in April compared to the rate at December 2018 and by June bounced back to a 2.9 percent decline. The Group picked-up both realized trading gains and unrealized revaluation gains for higher US dollar positions. Appreciation of the Jamaica Stock Exchange main index which grew by 23 percent during the six months period. The Group picked-up good trading gains and increased bond prices on USA stock markets.”
Sagicor Bank enjoyed an excellent period contributing net profits of $1.04 billion for the current period, versus $772 million recorded in 2018, from revenues of $6.36 billion, 18 percent more than the prior year.
The stock traded on the Jamaica Stock Exchange on Tuesday at $58.
Record high for junior Market
The Junior Market of the Jamaica Stock Exchange has gained 58 points to reach a record high of 3,442.41, after just over two hours of trading and is now above the record closing high reached on September 20, 2018, of 3,436.31.
The Lab traded at $3 to record a 200 percent gain since the IPO and the listing on Friday. There are currently 2.6 million units on the bid at $3 as investors bought 2.4 million so far.
Main Market stocks are also up, with the two main indices of the main market posting strong gains. The JSE Main Index rose 4,010.36 to 515,449.60 and the All Jamaican Composite Index added 4,413.11 points to trade at 566,127.10.