Trading ended on Tuesday, with a 1,034 percent surge in the volume of shares changing hands after a 2,082 percent jump in total funds passing through the Jamaica Stock Exchange US dollar market than on Monday and resulted in more stocks rising than falling.
Trading ended with eight securities changing hands, versus nine on Monday with four rising, two declining and two ending unchanged. The JSE US Denominated Equities Index jumped 8.81 points to end at 205.52 to be up 10.3 percent for the year to date.
The PE Ratio, a measure used in computing appropriate stock values, averages 12.2. The PE ratio uses earnings forecasts done by ICInsider.com for each company with the financial year ending during the current year up to August 2022.
Overall, 846,041 shares worth US$120,319 traded up from 74,628 units at US$5,514 on Monday. Trading averaged 105,755 units at US$15,040, compared to 8,292 shares at US$613 on the previous day and month to date an average of 79,766 shares at US$10,928 versus 78,291 units at US$10,695 on Monday. October ended with an average of 48,646 units for US$4,160.
Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and none with a lower offer.
At the close, Margaritaville declined 0.48 of one cent to 9 US cents in trading 1,200 shares, 
MPC Caribbean Clean Energy popped 3 cents to close at US$1.08 after exchanging one stock unit, Productive Business Solutions rose 3.45 cents to US$1.1615 trading 51 stocks. Proven Investments increased 0.15 of a cent to end at 23 US cents, with 500,827 units changing hands, Sygnus Credit Investments USD share finished unchanged at 12.85 US cents after exchanging 3,815 units, Sygnus Real Estate Finance USD share dropped 2 cents to 14 US cents with an exchange of 3,542 stocks and Transjamaican Highway gained 0.01 of a cent to close at 0.86 of one US cent in switching ownership of 335,655 shares.
In the preference segment, JMMB Group 6% closed at US$1.15, with 950 stock units crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Archives for November 2021
Big jump in JSE USD market
Solid gains end November for JSE Main Market
Market activity ended on Tuesday with robust gains for the Jamaica Stock Exchange Main Market. The All Jamaican Composite Index jumped by 4,559.46 points to 437,668.39, just over 7,000 points below the close for October. The JSE Main Index surged 5,036.25 points to 397,830.67 and the JSE Financial Index rose 1.80 points to 98.28. The volume of stocks trading slipped at the close on Tuesday with the market ending, with rising stocks exceeding those decliners 2 to 1.
A total of 51 securities traded compared to 59 on Monday, with 24 rising, 12 declining and 15 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 15.8. The PE ratio for the JSE Main and USD Market quotes are based on earnings forecasted by ICInsider.com for companies with financial years ending between the current year and August 2022.
Trading on hauled out 7,613,507 shares for $134,588,814 in contrast to 10,513,011 units at $104,608,393 on Monday. Transjamaican Highway led trading with 21.2 percent of total volume after transferring 1.62 million shares, followed by Jamaica Broilers with 14.3 percent and 1.09 million units and Wigton Windfarm 10 percent with an exchange of 762,810 units.
Trading averaged 149,284 units at $2,638,996 versus 178,187 shares at $1,773,024 on Monday and month to date, an average of 233,949 units at $2,695,416, versus 237,936 units at $2,698,072 on Monday. October closed with an average of 251,350 units at $2,773,208.
Investor’s Choice bid-offer indicator shows 20 stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Barita Investments dipped 30 cents in closing at $90.40 after 14,398 shares crossed the market, Berger Paints fell $1.10 to $13.60 in an exchange of 653 units, Caribbean Cement climbed $9.40 to $92.50 in switching ownership of 306,290 stock units. Jamaica Broilers rallied $2.30 to close at $31 in trading 1,091,303 stocks, Jamaica Producers advanced $1.74 to end at $24 with the swapping of 178,959 units, Jamaica Stock Exchange rose $1.65 to finish at $19.15 in trading 117,911 stock units. 
JMMB Group popped 35 cents to close at $38.40 with 102,208 shares changing hands, Margaritaville fell $5 in closing at $16 with one stock unit crossing the market, PanJam Investment popped $9.21 to $73.76 in an exchange of 823 units. Sagicor Group shed $2 to close at $53 in transferring 533,923 stock units and Scotia Group gained 30 cents in ending at $37.75 with 3,505 stocks changing hands, Supreme Ventures rallied 19 cents in closing at $17.50 in switching ownership of 195,825 shares and Wisynco Group increased 22 cents to $16.93 trading 123,466 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market rallies into month end
The volume of stocks trading on the Jamaica Stock Exchange Junior Market on Tuesday rose moderately over Monday’s trade after 15 percent fewer funds entered the market compared to Monday, but the margin rose above Mondays’ close but ended down nearly 27 points for the month.
The market closed with 36 securities trading up from 34 on Monday and ended with 18 rising, 10 declining and eight, closing unchanged. At the close, the Junior Market Index increased 25.97 points to settle at 3,368.11.
The PE Ratio, a measure used in computing appropriate stock values, averages 14.4. The PE ratio of each stock is shown in the chart below, is based on earnings forecasted by ICInsider.com for companies with their financial year ending up to August 2022.
Trading ended with 3,944,569 shares changing hands for $13,899,422 compared to 3,434,946 units at $16,310,151 on Monday. Indies Pharma led trading with 525,785 shares for 13.3 percent of total volume, followed by iCreate with 492,593 units for 12.5 percent of the day’s trade and Future Energy Source with 449,533 units for 11.4 percent market share.
Trading averaged 109,571 shares at $386,095 in contrast to 101,028 shares at $479,710 on Monday and the month to date, averaging 160,358 units at $581,730, compared to 162,748 units at $590,936 on Monday. October closed with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, Access Financial advanced 75 cents to $20.75, trading 8,637 shares, Caribbean Assurance Brokers rallied 7 cents to $2.49, with 44,200 stock units crossing the exchange, Consolidated Bakeries climbed 35 cents in closing at $1.51 in exchanging 5,502 units. Dolphin Cove spiked 53 cents to $13 while exchanging 232,273 stocks, Elite Diagnostic lost 14 cents to end at $3.06 with 49,422 stocks changing hands, Fosrich dropped 24 cents to $8.50 after exchanging 31,127 stock units. General Accident popped 49 cents to $6.49 as 1,100 units changed hands, Indies Pharma gained 51 cents in ending at $3.50 while exchanging 525,785 shares, Jetcon Corporation rose 18 cents to close at $1.08 in trading 4,000 shares. KLE Group shed 82 cents to $2.30 after exchanging 32,978 stocks, Knutsford Express fell 49 cents to $7.51 with the swapping of 1,467 stock units, Lasco Distributors increased 19 cents to $3.20 in switching ownership of 28,737 units. 
Limners and Bards advanced 9 cents to end at $3.69 after 139,628 stocks crossed the market, Lumber Depot popped 7 cents to close at $2.94, trading 214,857 stock units, Medical Disposables declined 93 cents in closing at $5.76, with 3,800 shares changing hands. Paramount Trading fell 17 cents to $1.04 in an exchange of 400,900 units and Stationery and Office Supplies declined 10 cents to $6, with 5,795 stocks clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Steady trading on the Trinidad Exchange
More stocks gained than declined at the close of trading on Tuesday, after the volume traded fell 23 percent, with 52 percent higher value than on Monday, at the close of Trinidad and Tobago Stock Exchange.
Trinidad & Tobago Stock Exchange Head Quarters
A total of 18 securities traded down from 21 on Monday, with five rising, four declining and nine closing unchanged. The Composite Index fell 2.24 points to 1,452.92, the All T&T Index declined 1.21 points to 2,000.83 and the Cross-Listed Index lost 0.47 points to 121.44.
A total of 147,189 shares traded for $2,470,011 compared to 191,494 units at $1,630,001 on Monday.
An average of 8,177 units traded at $137,223 compared to 9,119 at $77,619 on Monday, with month to date averaging 35,109 units at $290,897 versus 36,574 units at $299,254. The average trade for October amounts to 23,649 units at $236,189.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Agostini’s finished at $24.50 trading 24,299 shares, Ansa Merchant Bank rose $2 to a 52 weeks’ high of $43, with 4,000 stock units changing hands, First Citizens Group ended at $57 while exchanging 1,679 stocks. GraceKennedy dropped 9 cents to end at $6.11, with 12,010 units crossing the market, Guardian Media shed 12 cents to close at $3.03 in switching ownership of 1,719 units, JMMB Group ended unchanged at $2.26, with 66,177 stocks changing hands. Massy Holdings ended at $90 in trading 6,208 stock units, National Enterprises increased 5 cents to close at $3.25 after 1,060 shares cleared the market, National Flour Mills ended at $1.87 in exchanging 1,050 shares. 
NCB Financial Group remained at $8, trading 12,000 stocks, One Caribbean Media ended at $4.40 in the swapping of 682 units, Prestige Holdings advanced 19 cents to $7.20 in exchanging 418 stock units. Republic Financial Holdings lost $1 to end at $138 with 1,118 stocks hanging hands, Scotiabank popped 26 cents to end at $67 with an exchange of 6,553 shares, Trinidad & Tobago NGL ended at $18.50 after exchanging 5,320 units. Trinidad Cement finished at $3.85 in an exchange of 2,204 stock units, Unilever Caribbean slipped 1 cent to $16.19, with 488 shares crossing the exchange and West Indian Tobacco rallied $1.06 to $29.26 while exchanging 204 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Abolish the useless circuit breaker rule
Trading was halted in five Junior Market stocks this morning as a result of the stock exchange circuit breaker although, all are halted at prices they frequently traded at in recent weeks.
Caribbean Assurance Brokers was frozen at $2.95, the stock traded at that price on Monday, Consolidated Bakeries was frozen at $1.53, iCreate is frozen as the price dropped to 75 cents, Jetcon Corporation freeze took place at $1.08 and KLE Group at $2.30 from $3.10 on Monday but it traded as low as $2 on the 25th of the month. None of the stocks traded outside the recent range, so what is the Stock Exchange preventing these stocks and many others from trading freely as there is no information that is not already known to the market.
Leaders are supposed to lead as such when things they control is no longer meaningful, they should adjust them, the leaders at the helm of the Jamaica Stock Exchange don’t seem to get it.
Stock exchanges are markets that allow companies to raise capital and owners of shares to give a reasonable view that if they want to sell their stock there is an organised market to do so. Today’s modern stock markets are listed companies and the frequency of trading allows them to make money.
Some years ago, in response to the global market sharp decline, several stock exchanges put in place a circuit breaker rule that resulted in a halt to trading if a stock or the market moved too fast in a session. The JSE put one in place and modified it a few years ago. The rule has not done anything to protect investors since its introduction. In fact, it made investors worse off as they are prevented for traded stocks during the hour of halting of trading that takes place.
Long term GOJ interest rates spike to 11% high
Investors garnered interest rates as high as 11 percent on long term bonds issued by the Government of Jamaica last week auctions of three long term bonds that were reopened and raised $10 billion. The average rates were more moderate, with the highest average being 8 percent.
The Government also offered $5 billion of the 10 percent bond due 2037 with a duration of 15.5 years. The auction attracted $6.759 billion that resulted in an average yield of 7.9614 percent. The lowest rate was 6.7 percent for $50 million and the highest success rate was 10 percent. The highest submitted bid was 12.999 percent. A total of 56 bids went after the bond, with 46 being successful.
The 5.675 percent bond due 2029, with a duration of 7.5 years, ended with an average yield of 6.3506 percent. The auction attracted $2.727 billion, of which $1 billion was allocated. The lowest rate was 5.575 percent for $100 million and the highest success rate was 6.94 percent. The highest submitted bid was 11 percent. This instrument received 43 submissions, with only 18 being successful.
The 4.5 percent bond due 2025, with a duration of 3.5 years, delivered an average yield of 6.2329 percent. Bids from 51 applicants amounting to $4.779 billion chased the $4 billion on offer. Only 44 bids succeeded in getting allocated. The lowest rate was 4.5 percent for $44 million, with the highest success rate of 10.525 percent. The highest submitted bid was 11 percent covering $100 million.
The increased rates come against the background of recent moves by Jamaica’s central bank to hike rates and move towards an era of positive interest rates. Since making their intention known, the bank raised its overnight rate from 0.50 percent to 2 percent in September and November, while rates on 30 days CDs moved to 4.11 percent from 0.59 percent since the beginning of August and 2.15 percent at the September 22 Auction.
Jamaica’s remittances up again in October
Total remittance inflows climbed a respectable 8.8 percent for an increase of US$24 million to US$296 million, up from US$272 million in 2020.
The increase continues the robust growth remittance inflows enjoyed since May last year. It puts the total inflows for the year to date at US44 million short of the total intake for 2020, when US$2.905 billion was taken in for the year to the end of December. At the pace inflows have grown, the take for the current year could hit a record US$3.5 billion, data released by the Bank of Jamaica is suggesting.
Broad based trading in JSE USD market
Trading on Monday, ended with the volume of shares changing hands declining 86 percent with a 95 percent lower than on Friday, at close of the Jamaica Stock Exchange US dollar market, resulting in more stocks declining than rising.
Trading ended with nine securities changing hands, compared to five on Friday with prices of three rising, four declining and two ended unchanged. The JSE US Denominated Equities Index squeezed out a rise of 0.16 points to end at 196.71.
The PE Ratio, a measure used to compute appropriate stock values, averages 12.2. The PE ratio uses earnings forecasts carried out by ICInsider.com for each company, with the financial year ending for the current year up to August 2022.
Overall, 74,628 shares traded for US$5,514, down from 515,741 units at US$106,763 on Friday. Trading averaged 8,292 units at US$613, compared to 103,148 shares at US$21,353 on Friday and month to date averages 78,291 shares at US$10,695 versus 83,064 units at US$11,383 on Friday. October ended with an average of 48,646 units for US$4,160.
Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than the last selling price, while none closed with a lower offer.
At the close, First Rock Capital USD share climbed 0.39 of a cent to 6.59 US cents a 41, after trading 449 shares, Margaritaville popped 0.48 of one cent to end at 9.48 US cents in an exchange of 577 units, MPC Caribbean Clean Energy fell 3 cents to US$1.05 after trading 180 stocks. Proven Investments advanced 0.35 of a cent to 22.85 US cents trading 9,876 stock units, Sterling Investments lost 0.08 of a cent to close at 2.01 US cents, with 12,042 shares crossing the market, Sygnus Credit Investments USD share shed 0.14 of one cent to end at 12.85 US cents, with 666 stocks changing hands. Sygnus Real Estate Finance USD share finished at 16 US cents in exchanging 324 stock units and Transjamaican Highway dropped 0.01 of a cent in ending at 0.85 of a US cent in switching ownership of 9,487 units.
In the preference segment, Equityline Mortgage Investment preference share remained at US$1.90 in exchanging 27 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Main Market rally not on solid ground
Market activity ended on Monday with the volume of shares trading rising 37 percent and the value climbing 33 percent higher than on Friday on the Jamaica Stock Exchange Main Market as rising stocks lagged those declining by a big margin of one to two.
The All Jamaican Composite Index rallied 643.07 points to settle at 433,108.93, the JSE Main Index advanced 1,574.06 points to 392,794.42 and the JSE Financial Index picked up 0.88 points to end at 96.48.
Trading ended with 59 securities, up from 50 on Friday, with 14 rising, 30 declining and 15 ending unchanged. The PE Ratio, a formula for computing appropriate stock values, averages 15.7. The PE ratio for the JSE Main and USD Market closing quotes are based on earnings forecasts computed by ICInsider.com for companies with financial years ending between the current year and August 2022.
Trading ended with 10,513,011 shares changing hands for $104,608,393 up from 7,647,903 units at $78,855,103 on Friday. Wigton Windfarm led trading with 32.7 percent of total volume with a transfer of 3.44 million shares, followed by Transjamaican Highway with 27.4 percent for 2.88 million units and JMMB Group 7 percent with 739,927 units changing hands.
Trading averages 178,187 units at $1,773,024, compared to 152,958 shares at $1,577,102 on Friday and month to date, an average of 237,936 units at $2,698,072, up from 241,379 units at $2,751,371 on Friday. October closed with an average of 251,350 units at $2,773,208.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments shed $1.44 to close at $90.70 with 7,999 stock units changing hands, Caribbean Cement declined $3.40 to $83.10, with 129,631 units clearing the market. Eppley Caribbean Property Fund advanced $4 to $38 in trading 98,020 stocks, Guardian Holdings spiked $20 to $540 with a transfer of 14 shares, Jamaica Broilers slipped 75 cents to end at $28.70 in exchanging 114,430 stock units. Jamaica Producers shed $1.69 to end at $22.26 with the swapping of 4,944 units, Jamaica Stock Exchange rallied 50 cents in closing at $17.50 with an exchange of 14,469 stocks, Mayberry Investments lost 45 cents to close at $7.55 with 66,400 stock units crossing the exchange. NCB Financial rose $1.64 to $120.94 in switching ownership of 49,909 stocks, 138 Student Living fell $1.58 in closing at $3.11 in exchanging 4,743 shares, Palace Amusement dropped $73 to $957 with 130 units crossing the market, PanJam Investment declined $8.45 to close at $64.55 in transferring 16,213 shares. Portland JSX spiked $1 in closing at $7.70 with the swapping of 797 stock units, Proven Investments lost 40 cents after ending at $33.40, with 2,064 stocks crossing the market, Sagicor Group popped $2.30 to end at $55 in an exchange of 486,386 units. 
Salada Foods dipped 40 cents to $6.50 with 19,775 shares changing hands, Scotia Group lost 52 cents to $37.45 in trading 27,687 units, Seprod shed 80 cents to end at $63.20 in switching ownership of 13 shares. Supreme Ventures fell 49 cents to $17.31 in an exchange of 8,575 stock units, Sygnus Credit Investments dipped 46 cents to close at $15.04 after clearing the market with 58,031 stocks and Wisynco Group lost 29 cents to $16.71 with 93,881 shares changing hands.
In the preference segment, Eppley 7.50% preference share rose 90 cents to end at $6.90 in trading 602 stock units and Productive Business Solutions 9.75% preference shares advanced $3 in closing at $104 with 17 units crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Monday fall for JSE Junior Market
The Junior Market Index dropped 29.43 points to 3,342.14 in trading on Monday, with the volume traded rising moderately over Friday’s trade and the value increasing 18 percent higher at the close of trading on the Jamaica Stock Exchange Junior Market.
A total of 34 securities traded, up from 31 on Friday, ending with 11 rising, 21 declining and two closing unchanged.
The PE Ratio, a measure used to compute appropriate stock values, averages 14.4. The PE ratio of each stock shown in the chart below, is based on earnings forecasts by ICInsider.com for companies with their financial year ending up to August 2022.
Trading ended with 3,434,946 shares changing hands for $16,310,151 versus3,228,831 units at $13,859,253 on Friday. Future Energy Source led trading with 682,540 shares for 19.9 percent of total volume, followed by Mailpac Group with 319,195 units for 9.3 percent of the day’s trade and Dolphin Cove with 308,847 units for 9 percent market share.
Trading averaged 101,028 shares at $479,710 in contrast to 104,156 shares at $447,073 on Friday and month to date, averaging 162,7 8 units at $590,936, compared to 165,619 units at $596,109 on Friday. October closed with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Access Financial dropped 80 cents to $20, trading 8,000 shares, AMG Packaging fell 10 cents to $2.15 with 1,000 stock units changing hands, Caribbean Flavours increased 25 cents to close at $1.90, trading 125,000 stocks. Consolidated Bakeries dropped 39 cents to $1.16 after exchanging 90,366 units, Dolphin Cove shed 43 cents to $12.47 in swapping 308,847 units, Express Catering lost 39 cents in closing at $5.60 with an exchange of 99,624 stock units. Fontana fell 13 cents to end at $7.50, exchanging 250,699 stocks, General Accident lost 60 cents to close at $6 while trading 4,435 shares, Indies Pharma dropped 11 cents to $2.99 in switching ownership of 2,010 shares. 
Jetcon Corporation declined 18 cents to 90 cents in an exchange of 42,376 stock units, KLE Group spiked 82 cents in closing at $3.12 in trading just 500 stocks, Lasco Distributors shed 19 cents to end at $3.01 with the swapping of 177,400 units. Lasco Manufacturing climbed 9 cents to $4.89, with 179,879 shares changing hands, Limners and Bards advanced 29 cents to $3.60 after trading 40,000 stocks, Mailpac Group popped 11 cents to close at $3.50, with 319,195 units crossing the market and Stationery and Office Supplies dropped 49 cents to end at $6.10, with 24,322 stock units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
