Dealers again sold more foreign exchange than they bought on Thursday, similar to Tuesday and Wednesday. At the close of trading, US$8 million more of all foreign currencies were sold than the amounts bought. The net sale of US dollar currency, amounted to $10 million.
Purchases of all currencies by dealers, translated to US$30,400,269 compared with the US$33,677,040, on Wednesday and selling amounted the equivalent of US$38,333,066 versus US$52,309,853 sold on Wednesday.
In US dollar trading, dealers bought US$26,474,381 compared to US$29,144,721 on Wednesday. The buying rate for the US dollar climbed 10 cents to $115.32 and US$36,376,817 was sold versus US$48,604,969 on Wednesday, the selling rate rose 3 cents to $115.80. The Canadian dollar buying rate dropped 61 cents to $90.65 with dealers buying C$1,327,874, and selling C$568,224, at an average rate that climbed 45 cents, to $92.49. The rate for buying the British Pound gained $1.15 to $174.20 for the purchase of £1,099,040, while £469,471 was sold, at an average rate of $175.77, a rise of $1.24. At the end of trading it took J$132.26 to purchase the Euro, 27 cents lower than on Wednesday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.66 for a decline of 31 cents from Wednesday. Other currencies bought, amounted to the equivalent of US$1,221,793 while the equivalent of US$789,800, was sold.
Highs & Lows| The highest buying rate for the US dollar, fell 10 cents to $115.90. The lowest buying and the highest selling rates were unchanged at $94.36 and $120.91 respectively. The lowest selling rate declined $18.64 to $94.36. The highest buying rate for the Canadian dollar eased by 40 cents to $93.60, the lowest buying rate rose 29 cents to $73.25. The highest selling rate put on $20.04 to $115.65 and the lowest selling rate is up 35 cents to $88.25. The highest buying rate for the British Pound, gained 48 cents to $176.50. The lowest buying rate gained $1.16 to $140.89, the highest selling rate rose $1.66 to $181.63 and the lowest selling rate increased $1.40 to $169.75.
US$10m more sold than bought
JSE falters but indicators point up
Carreras closed at a new 52 weeks’ high of $41.85
strong> Main Market| The JSE Market Index lost 189.41 points to 77,338.22, the JSE All Jamaican Composite index fell 211.77 points to close at 85,186.03 and the JSE combined index gained declined by 226.12 points to close at 79,245.13.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator is flashing a strong signal of 12 stocks with bids higher than their last selling prices and only 4 with offers that were lower.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Carreras closing with 91,585 units, put on 85 cents, to a new 52 weeks’ closing high, of $41.85. Mayberry Investments ending with 25,000 shares while gaining 2 cents to $2 and National Commercial Bank ending with 6,200 units to close with a gain of 4 cents at $20.45.
Firm| The stocks in the main market to close without a change in the last traded prices are, Jamaica Money Market Brokers closed with 14,854 units traded at $7, Jamaica Producers had 102,158 units trading at $17, Sagicor Group closed with 227,641 shares changing hands at $10.25, Sagicor Real Estate Fund in trading 10,000 units ended at $6.85.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Grace Kennedy closing with 62,522 shares trading lower by $1.90 to end at $60 and Proven Investments finished with 39,985 units changing hands at 0.05 cents lower 20.6 US cents.Preference| Jamaica Money Market Brokers 7.50% preference share ending with 500,000 units trading at $2.
Lasco Manufacturing dominates trade
Activity on the junior market closed with Lasco Manufacturing dominating trading with 2,556,735 shares. At the close only 4 securities traded, ending with 2,605,176 units valued at $3,114,828. The JSE Junior Market Index declined 5.15 points to close at 698.21, with the price of 1 stock advancing and 2 declining.
At the close of the market, there were 3 stocks with bids higher than their last selling prices and just 1 with a lower offer. Trading ended with 4 securities closing with no bids to buy and 6 securities had no stocks being offered for sale.
Stocks trading in the junior market are, Medical Disposables finishing with 10,000 shares trading 10 cents higher at $1.80, Lasco Manufacturing finishing with 2,556,735 shares trading, unchanged at $1.20, more than 2.4 million units were crosses done by Mayberry on behalf of clients, Lasco Distributors closed with 37,000 shares changing hands while lost 5 cents to $1.40. At the close there were 600,000 units Lasco Distributors on the bid to buy at $1.40 and Lasco Financial in concluded trading with 1,441 shares changing hands fell 1 cent to $1.05.
Massy drops 4.5% in 2 days
Massy Holdings drops sharply on Thursday again.
At the close of the market, the Composite Index declined by 2.61 points to close at 1,146.08, the All T&T Index fell by 2.70 points to close at 1,978.17 and the Cross Listed Index lost 0.33 points to close at 41.11.
Gains| Trinidad Cement traded 14,847 shares to close at $2.33.
Declines| The stocks declining at the end of trading are, First Citizens Bank with 340 shares trading closed at $35.95 down 5 cents, Massy Holdings trading 7,990 shares, closed with a lost $1.26 on top of the $1.75 lost on Wednesday to close at $63.99 for a new 52 weeks’ low. National Commercial Bank lost 3 cents to $1.16 as 15,000 units changed hands, Sagicor Financial traded 27,485 units to lose 15 cents at $5.20, a new 52 weeks’ low.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, ANSA McAl trading 1,015 units and closed at $66.77, Clico Investment Fund trading 117,014 shares with a value of $2,660,116 to end at $22.75. Grace Kennedy ended at $3.65 while trading 3,975 shares, Guardian Holdings ended trading with 5,804 units trading at $13.20, Guardian Media closed trading at $19.75 while 3,260 shares were traded, Jamaica Money Market Brokers traded 7,500 units at 40 cents. National Flour traded 32,750 shares and closed at $1.45, One Caribbean Media traded 1,071 units at $23.95 and Scotiabank traded 800 shares to close at $62, LJ Williams B share ended trading in 100 units at 99 cents and the company’s A share traded 500 units at 29 cents.IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator is reflecting a negative reading and now shows 4 stocks with the bid higher than their last selling prices and 5 stocks with offers that are lower.
GOJ income falls but fiscal on track
The Jamaican government is on track to achieve their primary surplus target with the December data showing only half a billion positive balance over the budgeted target level, but that is well down on $6.2 billion excess achieved for the period to November.
The primary surplus at the end of December comes out at $66.5 billion and is up from November’s surplus of $54.4 billion. The excess over forecast was achieved although revenues are off by $10 billion, or more than $3 billion worse than the $6.8 billion at the end of November. Tax revenues fell short by $9.7 billion to November as economic measures bite, but non tax revenue was better than forecast by $2 billion and grants were off by $3 billion.
Tax on interest brought in $1.5 billion in revenue over budget and was up by 39 percent, PAYE rose by 4 percent or $2 billion to $49.9 billion. The shortfalls were mostly local GCT down by $5.4 billion or 10.6 percent to $5.5 billion. Corporation tax fell short by $6.6 billion or 30 percent, Special consumption tax dropped $1.7 billion or 19 percent
The wage bill that was on target to November shows $1.76 billion in savings to December, as government spent $121 billion on this item, interest cost is down by $4.5 billion to $95 billion and other cost fell by $671 million. Capital expenditure, underspent by $7.4 billion to November is now $8.3 billion below forecast or 31 percent reduction.
The fiscal deficit targeted at $33.87 billion is down by $5 billion to $28.9 billion thanks to cut in scheduled payments.
Dealers sold US$18m over buying
There was more selling of foreign currencies than buying by dealers on Wednesday, similar to Tuesday’s trading. Purchases of all currencies by dealers, translated to US$33,677,040 compared with the US$32,436,213, on Tuesday and selling amounted the equivalent of US$52,309,853 versus US$44,560,563 sold on Tuesday.
In US dollar trading, dealers bought US$29,144,721 compared to US$28,223,145 on Tuesday. The buying rate for the US dollar fell 3 cents to $115.22 and US$48,604,969 was sold versus US$42,457,660 on Tuesday, the selling rate remained at $115.77. The Canadian dollar buying rate rose $1.58 to $91.26 with dealers buying C$2,862,479, and selling C$2,525,837, at an average rate that climbed 42 cents, to $92.04. The rate for buying the British Pound gained 35 cents to $173.05 for the purchase of £1,053,193, while £719,957 was sold, at an average rate of $174.53, a rise of 56 cents. At the end of trading it took J$132.53 to purchase the Euro, $1.20 higher than on Tuesday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.97 for an increase of $1.07 over Tuesday. Other currencies bought, amounted to the equivalent of US$683,280 while the equivalent of US$611,448, was sold.
Highs & Lows| The highest buying rate for the US dollar, rose 10 cents to $116. The lowest buying and the highest selling rates were unchanged at $94.36 and $120.91 respectively. The lowest selling rate climbed $18.64 to $113. The highest buying rate for the Canadian dollar climbed $1.30 cents to $94, the lowest buying rate rose 58 cents to $72.96. The highest selling rate put on $1.13 to $95.61 and the lowest selling rate is up 40 cents to $87.90. The highest buying rate for the British Pound, gained $1.34 to $176.02. The lowest buying rate gained 87 cents to $139.73, the highest selling rate rose 96 cents to $179.97 and the lowest selling rate increased $1.05 to $168.35.
Moderate JSE trading Wednesday
Wednesday’s activity on the Jamaica Stock Exchange, resulted in the prices of 6 stocks rising 5 declining as just 19 securities changed hands, ending in only 836,056 units trading, valued at a mere $4,310,061, in all market segments.
Main Market| The JSE Market Index lost a mere 0.62 points to 77,527.63, the JSE All Jamaican Composite index fell 0.68 points to close at 85,397.80 and the JSE combined index gained 43.55 points to close at 79,471.25.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 8 stocks with bids higher than their last selling prices and only 1 with the offer lower.
Gains| Only 2 stocks closed higher at the end of trading in the main market on Wednesday with Sagicor Real Estate Fund closing with 2,500 shares trading, 11 cents up to $6.85 and Kingston Wharves ending with 3,300 units trading 40 cents higher to $6.
Firm| The stocks in the main market to close without a change in the last traded prices are, Carreras closing with 29,715 shares at $41, after trading as high as $42. Ciboney had 245,980 units changing hands at 7 cents, Grace Kennedy ended with 2,483 shares changing hands at $61.90 and Proven Investments ended with 2,780 shares trading at 21 US cents.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Caribbean Cement closing trading with 23,893 shares, ending lower by 10 cents to $2.30, Desnoes & Geddes closing with 53,186 shares changing hands, 10 cents down to $4.80. National Commercial Bank concluding trading with only 5,632 shares changing hands to end 9 cents lower at $20.41, Sagicor Group finished with only 280 units changing hands, losing 25 cents to $10.25 and Scotia Group in trading 76,537 units closed at 23 cents lower to $20.02.
Preference| Proven Investments 8% preference share traded 95,651 units at $5.
4 junior market stocks rose Wednesday
Activity on the Junior Market closed with 7 securities trading and ending with 294,119 units valued at $359,476 changing hands. The JSE Junior Market Index gained 4.75 points to close at 703.36, with the prices of 4 advancing with 1 declining.
At the close of the market, there were 3 stocks with bids higher than their last selling prices and none with offers that were lower. The junior market ended with 4 securities closing with no bids to buy and there were 6 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, Access Financial closing with 1,500 shares to end at $9.30 with an increase of 10 cents, Blue Power trading 7,500 shares to gain 10 cents to $6.50. Honey Bun closed with 6,000 units trading as the price rose 1 cents to $1.91, Lasco Distributors finished with 80,900 shares trading, rising 4 cents to $1.45.
Caribbean Cream closed with 183,600 units trading at 75 cents, Caribbean Producers finished with 13,119 units to close at $2.20 after shedding 10 cents Consolidated Bakeries closed with 1,500 units at 90 cents each.
TTSE falls with 6 stocks falling
Massy Holdings dropped sharply on Wednesday by $1.75.
At the close of the market, the Composite Index declined by 2.32 points to close at 1,148.69, the All T&T Index fell by 3.73 points to close at 1,980.87 and the Cross Listed Index lost 0.12 points to close at 41.44.
Declines| The stocks declining at the end of trading are, Clico Investment Fund trading 3,860 shares, gained 1 cent to end at $22.75, Massy Holdings trading 7,990 shares closed with a loss of $1.75 at $65.25 for a new 52 weeks’ low. National Flour traded 9,900 shares and closed 1 cent lower at $1.45, Republic Bank traded 132 units at $118.69, while losing 5 cents, Sagicor Financial traded 14,000 units to lose 14 cents at $5.35, a new 52 weeks’ low and LJ Williams ended trading in 10,000 units at 99 cents after dropping 1 cent.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, First Citizens Bank with 30,000 shares trading for $1,080,000 at $36, Scotia Investments trading 5,000 units at $1.45, Point Lisas Industrial Port Development ended with 765 shares trading at $3.75, Scotiabank traded 573 shares to close at $62 and West Indian Tobacco traded 500 shares at $123.IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator is reflecting an improvement in the negative reading of Tuesday and now shows 7 stocks with the bid higher than their last selling prices and 5 stocks with offers that are lower.
Insider sold 2.77m Student Living shares
Newly listed 138 Student Living advises that a related party sold 2,775,000 of the company’s shares on January 30, 2015. T
he shares traded at $4.40 and realised $12,210,000. When the company went public in December last year, some of the initial investors offered shares they owned to the public which was packaged with the public offer. Shares offered by the company were taken up in full, but those by shareholders were only partially bought by the public.
A related party to a directors sold 250,000 Jamaica Broilers Group’s shares on February 2, 2015, the Company advised the Jamaica Stock Exchange.
