Archives for November 2021

Stocks suffered losses on Tuesday

November 2, 2021 by

Market activity on the Trinidad and Tobago Stock Exchange resulted in trading 405 percent more shares, with 326 percent higher value on Tuesday Monday and ended with more stocks falling than rising at the close of trading.
Seventeen securities traded up from 15 on Monday, with four rising, seven declining and six remaining unchanged.
The Composite Index shed 3.94 points to 1,427.17, the All T&T Index fell 7.13 points to end at 1,935.50 and the Cross-Listed Index slipped 0.08 points to settle at 123.78.
Overall, 115,767 shares traded for $1,845,111 compared to 22,914 units at $433,325 on Monday. An average of 6,810 units traded at $108,536 compared to 1,528 at $28,888 on Monday and month to date an average of 4,334 units at $71,201. The average trade for October was 23,649 units at $227,589.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and none with a lower offer.
At the close, Agostini’s traded 95 shares at $24.50, Angostura Holdings advanced 10 cents in closing at $17.10 with an exchange of 23,000 stock units, Ansa McAl remained at $58 after 1,745 units cleared the market. Ansa Merchant Bank ended at $41 in trading 9,548 stocks, Clico Investment Fund remained at $26.99, exchanging 11,788 stocks, First Citizens Group popped 24 cents to $51, with 2,088 stock units crossing the exchange. GraceKennedy fell 1 cent to $6.23 with the swapping of 440 shares, Guardian Holdings spiked 17 cents to end at $30.50, with 153 units changing hands, JMMB Group remained at $2.24 in an exchange of 300 units. Massy Holdings popped 95 cents to $86 after 255 shares changed hands, National Flour Mills shed 6 cents in closing at $1.90 in switching ownership of 12,469 stock units, NCB Financial Group lost 1 cent to close at $8.05 after exchanging 50,701 stocks. Republic Financial Holdings dropped 53 cents to $136.47 while exchanging 130 stocks, Scotiabank declined $1 to $62 after trading 500 shares, Trinidad Cement fell 1 cent to close trading of 2,040 units at $3.89. Unilever Caribbean closed at $16.20 in an exchange of 55 stock units and West Indian Tobacco lost 29 cents to close at a 52 weeks’ low of $30.30 in trading 460 shares.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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

JSE 9 months profit surge demands caution

November 2, 2021 by

Profit after Tax surged 156 percent for Jamaica Stock Exchange in the 2021 third quarter to $187 million over the  $73 million generated in 2020, as revenues jumped 66.5 percent to $621 million, from $373 million earned in the  September 2020 quarter. 
Revenues and profit for the above period got a healthy injection from a significant $14 billion trade in National Financial Group in July and a sizable exchange of Barita Investments shares of 38,808,202 million units on September 28, valued at $3.99 billion that made up 47 percent of overall trading in the month.
The NCB trade pushed trading in the Main Market in July to $16 billion, well up on the over $8.5 billion regular tradings that occurred in August and up September $8.37 that benefited from the one-time Barita trade. Regardless of the one-off trades, the third quarter trading is well up on the first half of the year with an average of $2.8 billion per month. Junior Market trading for the quarter is well up on that for 2020 and is up 53 percent in dollar terms for the nine months to September, with the September quarter up a robust 114 percent over last year. Junior Market trading is $5.2 billion for the year to September and represents less than the trading in the Main Market in September alone.
Performance for the nine months was less spectacular, with total revenues rising 17 percent to $1.47 billion from $1.26 billion and profit climbing a respectable 32 percent to $378 million from $286 million.
Income from cess grew sharply to $232 million from just $57 million in the September 2020 quarter and $366 million from $232 million in the 2020 nine months. Fee Income rose from $298 million to $369 for the September quarter and from $933 million to $1.02 billion this year to September.
Total Expenses increased by 33.7 percent to $352 million from $263 million to the September 2020 quarter but increased by 11 percent in the nine months to $942 million from $839 million in 2020.in 2020. Staff Cost increased by $53 million due to salary adjustments and additional staffing, Property Expenses increased by $22 million attributed to increases in maintenance costs and licenses expense and Securities Commission Fees climbed by $23 million over the prior year.
Total current assets amount to $980,975, with cash and investments standing at $642 million and receivables of $335 million. Total current liabilities stood at $336 million. The group has long term investments of $221 million.
Shareholders’ Equity rose to $1.72 billion from $1.39 billion at the end of September 2020 and $1.53 at the end of December last year.
The company paid a dividend of $191 million during the year compared to $365 million in 2020.

Operating cash flow before movements in working capital brought in $601 million, but the group ended up with $430 million from operating activities after paying corporate taxes of $195 million.
Looking forward earnings per share that are up to 54 cents for the nine months from 41 cents in 2020 could end the year at 70 cents, but the signs are not very good with main market trading less than half of trading in August and September, but trading could pick up in the two remaining months of the year, helping to improve the company’s fortunes.
For 2021, there are positives and negatives with the expected rebound in the economy with tourism number rapidly growing BPO expansion and hopefully more new listing on the exchange. On the negative side, increased interest rates that are now in place could crimp trading activity they move much high in 2022. If confidence returns that could boost trading and generate more revenues and profits for the exchange currently at $17.50, the stock trades at a rich PE of 25, not excessively rich, but there is no room for growth presently, with the market average at 15.5.

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

JSE Main Market closed with bullish signals

November 2, 2021 by

Market activity plunged on Tuesday, with the volume of shares trading declining 71 percent, with the value dipping 45 percent lower than on Monday, at the close of the Jamaica Stock Exchange Main Market. Trading ended, with rising stocks were just edged out by those declining, but the market closed with a strong bullish signal for Wednesday, as shown by the Investor’s Choice bid-offer indicator below. 
The All Jamaican Composite Index declined 2,156.83 points to 444,028.97, the Main Index shed 355.00 points to 402,488.29 and the JSE Financial Index lost 0.01 points to end at 97.42.
Trading ended with 47 securities compared to 52 on Monday, with 20 rising, 21 declining and six ending unchanged. The PE Ratio, a measure used in computing appropriate stock values, averages 16. The PE ratio for the JSE Main and USD Market closing quotes are based on earnings forecasted by ICInsider.com for companies with financial years ending between the current year and August 2022.
Trading ended with 7,552,797 shares changing hands for $94,059,701 versus 26,109,974 units at $172,248,423 on Monday. Transjamaican Highway led trading with 21 percent of total volume for an exchange of 1.59 million shares, followed by Mayberry Investments, with 9.2 percent after trading 694,694 units and Wigton Windfarm with 9.2 percent for 691,775 units changing hands.
Trading averaged 160,698 units at $2,001,270, compared to 502,115 shares at $3,312,470 on Monday and month to date, an average of 340,028 units at $2,689,981. October closed with an average of 251,350 units at $2,773,208.
Investor’s Choice bid-offer indicator shows 17 stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments fell 91 cents to close at $93.99 with an exchange of 29,632 shares, Caribbean Cement spiked 86 cents to $103.91 in trading 30,418 stocks, Carreras slipped 72 cents to $7.50 with the swapping of 468,011 units. Eppley lost 35 cents in ending at $37 after an exchange of 481 stock units, GraceKennedy fell $1.98 to $98.01 in transferring 19,668 stocks, Jamaica Broilers dropped $1.80 to $28 trading 117,395 shares. Jamaica Producers shed $1.50 in closing at $22 in switching ownership of 9,073 units, Kingston Wharves advanced $2.48 to close at $47 with 2,576 shares clearing the market, MPC Caribbean Clean Energy climbed $15 to $115 with the swapping of 3 units, but the price hit an all-time low of $95 during trading. NCB Financial popped $1.35 after ending at $126.50 in exchanging 292,713 stocks, Palace Amusement rallied $68 to $1,023 with 48 units changing hands, PanJam Investment fell $2 to end at $63 in trading 6,271 stock units. Proven Investments declined by $1.80 to $31.21 with a transfer of 2,647 stocks, Sagicor Group fell 75 cents in closing at $53 after owners of 148,959 units were switched, Salada Foods gained 29 cents to close at $6.54 after exchanging 110,207 shares. Seprod picked up 25 cents to finish at $63.95 with 7,044 stocks crossing the market, Supreme Ventures popped 25 cents to $18 with 10,361 stock units changing hands, Victoria Mutual Investments rose 60 cents to $6.27 in trading 72,519 shares and Wisynco Group lost 30 cents to settle at $16.15 after an exchange of 49,323 units.
In the preference segment, Productive Business Solutions 9.75% preference shares dropped $24 to end at a 52 weeks’ low of $80 with the swapping of 19,761 stocks.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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

Main Market stocks back down

November 1, 2021 by
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Market activity closed off the first trading day of new month, with the number of shares trading declining 17 percent and the value down 31 percent from Friday out-turn at the close of the Jamaica Stock Exchange Main Market on Monday.
Trading ended with 52 securities compared to 47 on Friday, with 23 rising, 20 declining and nine ending unchanged. The All Jamaican Composite Index slid 1,513.58 points to settle at 446,185.80, the Main Index fell 1,121.73 points to 402,843.29 and the JSE Financial Index lost 0.30 points to end at 97.43.
The PE Ratio, a measure used in computing appropriate stock values, averages 15.8. The PE ratio for the JSE Main and USD Market closing quotes are based on earnings forecasted by ICInsider.com for companies with financial years ending between the current year and August 2022.
Trading ended with 26,109,974 shares down from $172,248,423 versus 31,416,493 units at $248,939,891 on Friday. Mayberry Investments led trading with 74 percent of total volume with a transfer of 19.32 million shares followed by Transjamaican Highway with 5.9 percent for 1.54 million units and Radio Jamaica, with 5 percent after trading 1.31 million units.
Trading averages 502,115 units at $3,312,470, versus 668,436 shares at $5,296,593 compared to October that averaged 251,350 units at $2,773,208.
Investor’s Choice bid-offer indicator shows 12 stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments rose 90 cents to $94.90 in exchanging 5,294 shares, Berger Paints gained 83 cents to close at $14.83 with the swapping of 2,418 stock units, Caribbean Cement slumped $10.95 to $103.05 in trading 27,188 stocks. Caribbean Producers popped 30 cents to end at $8.30 with an exchange of 114,526 units, Eppley rose $1.35 to $37.35 after 2,105 stocks cleared the market, Eppley Caribbean Property Fund advanced $2.49 to $42.90 with a transfer of 14,323 stock units. Guardian Holdings bounced $29.80 to $549.80 with 954 units changing hands, Jamaica Broilers fell $1.20 in ending at $29.80 after 352,064 shares switched owners, Jamaica Producers advanced $1.35 to $23.50 with 3,837 stock units crossing the market. JMMB Group shed 75 cents to close at $37.25 with the swapping of 152,756 units, Kingston Properties rallied $1 to $9.50 in an exchange of 302 shares, Kingston Wharves lost 48 cents to finish at $44.52 with 6,396 stocks crossing the market. Margaritaville rallied 68 cents to end at $14.88 in trading 7,030 shares, Mayberry Investments climbed 30 cents to $6.30 with the swapping of 19,315,460 units, MPC Caribbean Clean Energy declined $15 to $100 after exchanging 240 stock units. Palace Amusement dropped $60 to $955 in switching ownership of 8 stocks, PanJam Investment popped 50 cents to close at $65 with the swapping of 14,469 shares, Portland JSX lost 50 cents to settle at $7.50 after 1,045 stock units crossed the exchange. Proven Investments dipped 34 cents to close at $33.01 after transferring 84,505 units after hitting a 52 weeks’ intraday low of $30, Sagicor Group declined $4.25 in closing at $53.75 trading 9,821 stocks, Scotia Group gained 50 cents to settle at $36 in trading 14,076 stock units. Seprod fell 25 cents to $63.70, with 3,633 stocks clearing the market, Stanley Motta rose 92 cents to end at $5.84 with 16,403 shares changing hands and Sygnus Real Estate Finance lost 25 cents to close at $18 in exchanging 1,000 units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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

Trading picks up for JSE USD market

November 1, 2021 by

Trading closed on the Jamaica Stock Exchange US dollar market on Monday as investors exchanged 63 percent more shares valued 51 percent more than Friday, resulting in an even number of stocks rising and falling and slippage in the index declining.
Trading ended with five securities changing hands, compared to six on Friday, with prices of two rising, two declining and one ending unchanged.
The JSE US Denominated Equities Index fell 4.36 points to end at 194.90. The PE Ratio, a measure used in computing appropriate stock values, averages 12.2. The PE ratio is based on earnings forecasts done by ICInsider.com for each company, with the financial year ending during the current year up to August 2022.
Overall, 931,949 shares traded for US$28,540up from 570,773 units at US$18,913 on Friday. Trading averaged 186,390 units at US$5,708 compared to 95,129 shares at US$3,152 on Friday compared to October that ended with an average of 48,646 units for US$4,160.
Investor’s Choice bid-offer indicator shows one stock ending with a bid higher than its last selling price and two with lower offers.
At the close, First Rock Capital US share remained unchanged at 7 US cents with a transfer of 808 shares, Proven Investments rallied 1.69 cents to 23.9 US cents with 83,508 stock units traded, Sygnus Credit Investments USD share rose 0.19 of a cent to end at 12.99 US cents with investors switching ownership of 17,171 stocks. Sygnus Real Estate Finance USD share dropped 2.3 cents to 14 US cents with 1,300 units changing hands and Transjamaican Highway shed 0.15 of a cent to close at 0.8 of US cents with 829,162 shares crossing the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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

Early gains given up by Junior Market stocks

November 1, 2021 by

Trading closed, with the volume of stocks traded leapt 21 percent higher with the value rising 26 percent over Friday’s trading as all but one security traded at the close of the Jamaica Stock Exchange Junior Market on Monday.
Overall, 41 securities traded up from 35 on Friday and ended with 17 rising, 17 declining and seven, closing unchanged.
At the close, the Junior Market Index dropped 9.32 points to settle at 3,395.08 after the market opened at 3,451.61. The PE Ratio, a measure used to compute appropriate stock values, averages 13.8. 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.
A total of 5,361,145 shares traded for $18,729,533 up from 4,415,967 units at $14,859,809 on Friday. Friday Future Energy Source led trading with 2.16 million shares for 40.2 percent of total volume, followed by Lumber Depot with 608,209 units for 11.3 percent of the day’s trade and Indies Pharma, with 532,649 units accounting for 9.9 percent market share.
Trading averaged 130,760 shares at $456,818 in contrast to 126,170 shares at $424,566 on Friday. Trading in 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 slumped $2.69 to $17.01 with an exchange of 6,509 shares, CAC 2000 gained 10 cents in closing at $8.40 after exchanging 820 units, Cargo Handlers increased 15 cents to $7.15 after trading 7,000 stocks. Caribbean Cream shed 31 cents to end at $5.66 in switching ownership of 28,319 stock units, Express Catering rose 10 cents to $5.10, with 2,000 shares clearing the market, Fontana lost 10 cents to close at $6.70 with the swapping of 127,054 stock units. GWest Corporation dropped 15 cents in closing at 70 cents, with 112,049 units crossing the market, Honey Bun fell 25 cents to $9.25, with 210,000 stocks changing hands, Indies Pharma declined 35 cents to $3.05 in an exchange of 532,649 shares. KLE Group spiked 39 cents to end at a 52 weeks’ high of $1.85, with 26,937 units changing hands, Lasco Distributors dropped 35 cents to $3.50 in trading 41,052 stock units, after the company reported flat six months results but suggesting the stock is undervalued. Lasco Manufacturing shed 45 cents ending at $4.33, with 39,664 stocks crossing the market after the company released good half year results with a strong indication that the stock is undervalued. Main Event spiked 40 cents in closing at $4.40 after trading 2,012 stocks, Medical Disposables popped 11 cents to $5.06 after exchanging 4,428 shares, Stationery and Office Supplies fell 89 cents to $5.61 in exchanging 5,825 units and tTech rallied 14 cents to $4.79 while trading 10,000 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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

Trinidad stocks rally into November

November 1, 2021 by

Market activity on Monday resulted in more stocks rising than falling at the close of trading after trading volume plunged 71 percent and the value dropped 74 percent from Friday trading at the close of the Trinidad and Tobago Stock Exchange.
Overall, 15 securities traded down from 17 on Friday, with six stocks rising, three declining and six remaining unchanged. The Composite Index climbed 7.77 points to 1,431.11, the All T&T Index rallied 4.12 points to 1,942.63 and the Cross-Listed Index popped 1.64 points to settle at 123.86.
Just 22,914 shares traded for $433,325 compared to 78,324 units at $1,687,781 on Friday. An average of 1,528 unit  traded at $28,888 down from 4,607 at $99,281 on Friday. The average trade for October amounts to 23,649 units at $227589.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Agostini’s remained at $24.50 with an exchange of 524 shares, Ansa McAl traded 300 stocks at $58, Clico Investment Fund popped 19 cents to $26.99 with the swapping of 1,200 stock units. First Citizens Group rose 1 cent to $50.76 after 1,000 units crossed the market, FirstCaribbean International Bank jumped 39 cents to $6.50 after exchanging 1,134 shares, GraceKennedy slipped 1 cent to $6.24 in trading the market 301 stocks. Guardian Holdings fell 17 cents to $30.33 with 1,653 units changing hands, JMMB Group ended at $2.24 while exchanging 1,000 stock units, Massy Holdings traded at $85.05. NCB Financial Group remained at $8.06 in exchanging 7,980 units, Point Lisas climbed 5 cents to $3, with 718 stock units changing hands, Prestige Holdings remained at $7.05 after 845 stocks were exchanged. Republic Financial Holdings gained $1 to close at $137 after trading 178 shares, Scotiabank advanced 50 cents in closing at a 52 weeks’ high of $63, with 532 units crossing the exchange and Unilever Caribbean dropped 15 cents to $16.20 in switching ownership of 5,005 stock units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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

Have Interest rates peaked?

November 1, 2021 by

Jamaica’s Central Bank 

Interest rates on Certificate of Deposit issued by Bank of Jamaica seem to be levelling off, with the rate at last week’s auction declining from the previous week’s outturn.
Last week’s offer of $7.5 billion in 30 days on Wednesday, 27 October, attracted 76 applications amounting to $13 billion and resulted in an average yield of 3.96 percent, down from 4.53 percent at the auction in the previous week. Bids were received as low as 2.5 percent covering $1.48 billion, with the highest rate bid being 7.34 percent for $20 million. A bid amounting to $550 million received full allocation at 4.79 percent. The total nominal outstanding amount for the 30-day CDs on the settlement date – 29 October, will be $41.5 billion, down from $46.5 billion in mid-October.

Filed Under: Economy Tagged With: , ,