The Bank of Jamaica hikes its overnight rate once more by 0.50 percent to 5.50 percent following the latest meeting of the Monetary Policy Committee (MPC).
The decision the bank stated was “unanimously agreed to” by MPC who “also decided to continue pursuing other measures to contain Jamaican dollar liquidity expansion and maintain relative stability in the foreign exchange market.”
The Committee noted that “while inflation at May 2022 of 10.9 percent was lower than inflation at April 2022, core inflation remained elevated and headline inflation is likely to continue to breach the Bank’s target range over the next year.”
The MPC noted that its current decision reflects a cumulative increase in the policy rate of 500 bps since October 2021, which has taken the policy rate closer to the level that the Committee considers appropriate. The bank stated that “the measures are also aimed at reducing economic demand and, consequently, the ability of businesses to pass on price increases to consumers. These decisions are also expected to continue to support a relatively more stable foreign exchange market.”
Archives for June 2022
BOJ hikes interest rate higher to 5.50%
Jamaica Stocks higher in month end rally
Stock market trading closed with positive price movements as reflected in the gains recorded in the market indices except for a slight decline in the USD market. Recently listed, Dolla Financial seems to be finding an equilibrium price level as it closed 1 cent lower than the $2.92 on Tuesday; icreate created a buzz with the price reaching a record high of $4.70 in response to another acquisition announcement.
The market closed with the JSE Combined Index climbing 1,477.39 points to 396,901.64 while the All Jamaican Composite Index added 1,951.68 points to end at 438,886.15, the JSE Main Index gained 1,324.62 points to 383,033.41, the Junior Market index popped 26.55 points to 4,310.53 and the JSE USD market index lost 1.14 points to close at 217.56.
Investors exchanged 27,264,015 shares in all markets, with the value of stocks traded in the Main and Junior Markets ending at $339.2 million and in the JSE USD market, US$42,677.
The market’s PE ratio ended at 23.9 based on 2021-22 earnings and 13.2 times those for 2022-23 at the close of trading.
Investors need pertinent information to navigate many investment choices in the local stock market successfully. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational investment decisions by investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to take emotions out of the investment decision and put in on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The ICInsider.com PE Ratio chart covers all ordinary shares on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to quickly assess the value of stocks based on this measure. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.
Bounce for JSE USD trading
A huge 667 percent rise in the value of stocks traded after the volume rose just 17 percent over Monday was the outstanding feature of trading on the Jamaica Stock Exchange US dollar market on Tuesday.
Seven securities traded, compared to nine on Monday, with three rising, three declining and one ending unchanged. At the close of market activities, the JSE US Denominated Equities Index gained 0.71 points to end at 218.70.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.4. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending up to August 2023.
Overall, 578,306 shares were traded for US$75,902 compared to 492,558 units at US$9,897 on Monday.
Trading averaged 82,615 units at US$10,843, compared to 54,729 shares at US$1,100 on Monday, with a month to date average of 74,062 shares at US$8,830 versus 73,625 units at US$8,727 on the previous day. May ended with an average of 47,916 units for US$3,528.
Investor’s Choice bid-offer indicator shows two ended with a bid higher than the last selling prices and one stock with a lower offer.
At the close, First Rock Capital USD share dropped 0.08 of a cent to end at 7.42 US cents in an exchange of 7,785 shares, Proven Investments climbed 0.99 of one cent in closing at 26 US cents after 100,112 units changed hands, Sterling Investments gained 0.12 of a cent to close at 2.12 US cents trading 10,000 stocks. Sygnus Credit Investments USD share lost 0.4 of one cent in ending at 12.5 US cents after 367,647 stock units were traded, Sygnus Real Estate Finance USD share declined 1.5 cents to a 52 weeks’ low of 10 US cents with the swapping of 4,000 units and Transjamaican Highway increased 0.01 of a cent to 1 US cent while exchanging 88,718 stocks.
In the preference segment, JMMB Group 5.75% remained at US$2.25 after exchanging 44 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Stocks pull down Jamaica Stock Market
Recently listed Dolla Financial hit a low of $2.63 on Tuesday and bounced 19 cents to close at $2.92 after trading 9 million shares for 50 percent of Junior Market trading as the stock continued to trade above the average volume for Junior Market stocks.
The market closed with the JSE Combined Index losing 1,287.19 points to close at 395,424.25, while the All Jamaican Composite Index lost 883.90 points to end at 436,934.47, the JSE Main Index shed 816.45 points to 381,708.79, the Junior Market index lost 58.21 points in closing at 4,283.98 and the JSE USD market index gained 0.71 points to close at 218.70.
Investors exchanged 28,265,023 shares in all markets, with the value of stocks traded in the Main and Junior Markets ending at $244 million and in the JSE USD market, US$75,902.
The market’s PE ratio ended at 23.5 based on 2021-22 earnings and 13.1 times those for 2022-23 at the close of trading.
Investors need measures and pertinent information to navigate many investment choices in the local stock market successfully. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational investment decisions by investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to take emotions out of the investment decision and put in on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The ICInsider.com PE Ratio chart covers all ordinary shares on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to quickly assess the value of stocks based on this measure. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.
Trading declined on TTSE on Tuesday
Market activity ended on Tuesday, with the volume of stocks traded declining after trading 80 percent less and the value 66 percent lower than on Monday, on the Trinidad and Tobago Stock Exchange, with 21 securities trading compared to 18 on Monday, with five stocks rising, four declining and 12 remaining unchanged.
The Composite Index shed 8.01 points to end at 1,376.46, the All T&T Index advanced 2.88 points to 2,049.96 and the Cross-Listed Index fell 2.75 points to settle at 91.80.
A total of 350,296 shares traded for $3,548,053, down from 1,757,567 units at $10,468,611 on Monday.
An average of 16,681 units traded at $168,955, against 97,643 shares at $581,589 on Monday, with trading month to date averaging 66,444 units at $363,761 versus 59,532 stock units at $470,501. The average trade for May amounts to 45,890 units at $370,328.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, Agostini’s lost 50 cents in ending at $46, with 250 shares trading, Angostura Holdings advanced $1.99 to end at $24.99 after 30 stocks crossed the exchange, Ansa Merchant Bank ended at $43 in an exchange of 8,875 units. Clico Investment Fund increased 55 cents to $28.80 as 14,792 stock units crossed the market, Endeavour Holdings ended unchanged at $7.50 in switching ownership of 250 shares, First Citizens Group rose 1 cent to $50.01 in exchanging 3,904 stocks. FirstCaribbean International Bank finished at $5 in trading 13,510 stock units, GraceKennedy dropped 29 cents to $5.50, with 56,349 units changing hands, Guardian Holdings remained at $27.31 with 5,953 shares clearing the market. JMMB Group finished at $2.30 with the swapping of 191,169 units, L.J. Williams B share ended unchanged at $2.08 with an exchange of 20 stocks, Massy Holdings shed 2 cents to close at $5.18 after exchanging 3,694 stock units. National Enterprises popped 1 cent to $3.25 trading 536 stocks, National Flour Mills finished at $1.75 after exchanging 2,050 stock units, NCB Financial Group fell 30 cents to $5 in trading 23,574 units. One Caribbean Media ended at $4.15, with 3,026 shares crossing the market, Republic Financial Holdings ended unchanged at $141, with 4,544 shares changing hands, Scotiabank remained at $78 in an exchange of 7,227 units. Trinidad & Tobago NGL ended unchanged at $20.90 in exchanging 8,882 stock units, Unilever Caribbean gained $1.15 to close at $13.90 after trading 1,601 stocks and West Indian Tobacco finished at $23.35 with 60 stocks changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Slippage for JSE USD market
Trading ended on Monday, with the volume of stocks traded rising 572 percent and the value 38 percent lower than on Friday on the Jamaica Stock Exchange US dollar market, resulting in more stocks declining than increasing at the close.
Nine securities traded, compared to six on Friday, with one rising, three declining and five ending unchanged.
Overall, 492,558 shares traded for US$9,897 versus 73,292 units at US$15,839 on Friday. Trading averaged 54,729 units at US$1,100, versus 12,215 shares at US$2,640 on Friday, with the month to date average of 73,625 shares at US$8,727 versus 74,953 units at US$9,263 on the previous day. May ended with an average of 47,916 units for US$3,528.
The JSE US Denominated Equities Index lost 1.68.points to end at 217.99. The PE Ratio, a measure used in computing appropriate stock values, averages 9.4. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending up to August 2023.
Investor’s Choice bid-offer indicator shows two ended with the bid higher than the last selling prices and none with a lower offer.
At the close, First Rock Capital USD share rose 0.05 cents to close at 7.5 US cents in switching ownership of 26,358 shares, Margaritaville remained at 14.99 US cents while exchanging 622 units, Proven Investments lost 0.99 of one cent to close at 25.01 US cents, with 6,452 stock units clearing the market. Sterling Investments shed 0.07 of a cent after ending at 2 US cents and trading 1,100 stocks, Sygnus Credit Investments USD share declined 0.01 of a cent to end at 12.9 US cents in an exchange of 751 stocks, Sygnus Real Estate Finance USD share finished at 11.5 US cents in trading 8,454 shares and Transjamaican Highway ended at 0.99 US cents in exchanging 448,500 stock units.
In the preference segment, Equityline Mortgage Investments preference share remained at US$1.70 with 57 units crossing the market and JMMB Group 5.75% finished at US$2.25 after exchanging 264 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.