NCB at yearly high as 14 JSE stocks rose

February 13, 2015 by

NCB hits a new 52 weeks' high on Friday when it closed at $22.

NCB hits a new 52 weeks’ high on Friday when it closed at $22.

The Jamaica Stock Exchange closed the week with the prices of 14 stocks rising, 4 declining as 27 securities changed hands. Two stocks closed at new 52 weeks’ high, with National Commercial Bank ending at $22 after adding $1.50. Trading end with 1,883,471 units changing hands, valued at $28,049,091, in all market segments.
Main Market| The JSE Market Index gained 698.13 points to 78,931.04, the JSE All Jamaican Composite index rose 780.53 points to close at 86,966.86 and the JSE combined index climbed 769.94 points to 80,887.58.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 10 stocks with bids higher than their last selling prices and only 2 stocks with offers that were lower.
Gains| Stocks gaining, with their last traded prices at the end of trading in the main market are, Cable & Wireless, closing with 12,200 shares, changing hands while gaining 3 cents to 53 cents. Caribbean Cement closing with 3,175 shares, the price inched up 10 cents, to $2.50, Jamaica Money Market Brokers closed with 1,400 ordinary shares trading, while gaining 10 cents to $7.10. Jamaica Stock Exchange ended trading with 24,374 shares while gaining 5 cents, to end at a new 52 weeks high of $2.15, National Commercial Bank finished with 67,130 units trading, $1.50 higher, at a new 52 weeks’ high of $22. Pan Jamaican Investment trading 2,000 units and put on 50 cents to $53.50, Proven Investments closed with 2,500 shares while gaining 0.2 cents 19.2 US cents. Sagicor Group finished with 25,050 shares trading, rising 15 cents to $10.40 followed by Scotia Group that closed with 130,569 units and put on 5 cents to $20.10, Seprod closed with 450 shares to end with an increase of 6 cents to $11.96.
JSE sum 13-2-15 Firm| The stocks in the main market to close without a change in the last traded prices are, Berger Paints ending trading with 7,503 shares changing hands, to close at $1.56. Grace Kennedy closing with 200 shares trading at $60, Jamaica Broilers finishing with 231,182 units trading at $4 and Radio Jamaica finished with 29,690 units traded at $1.10.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Carreras ending with 463,976 units trading as the price slipped 50 cents to $44, Kingston Wharves closed with 11,700 shares changing hands, 40 cents down to $5.60 and Sagicor Real Estate Fund finished with 50,100 units trading to end 15 cents lower to $6.80.
Preference| Jamaica Money Market Brokers 8.75% preference share ended trading with 10,000 shares to close lower by 7 cents to $3.03 and Jamaica Money Market Brokers 7.50% preference share had 762,000 units changing hands at $2.

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Junior Market closed week up

February 13, 2015 by

Activity on the Junior Market closed with 8 securities traded and ending with only 48,272 units changing hands valued at a mere $112,162. The JSE Junior Market Index increased 12.17 points to close at 713.70, with the prices of 4 stocks advancing and none declining.
JM 13-2-15At the close of the market, there were 5 stocks with bids higher than their last selling prices and only 1 with a lower offer. The junior market ended with 5 securities closing with no bids to buy and there were 8 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, Caribbean Producers concluding trading with 1,100 shares to end with an increase of 20 cents to $2.30, Lasco Distributors closing with 10,000 shares, the price gained 2 cents to $1.48, Lasco Financial finishing trading with 17,802 shares, to end with an increase of 9 cents at $1.15. Lasco Manufacturing closing with 2,759 shares trading, 3 cents higher at $1.19, Eppley 9.5% preference share ended with 10,035 units trading, unchanged at $6, General Accident had just 100 shares changing hands at $1.65 and Honey Bun ending with 5,235 shares trading at $1.91 as investors reacted to the December quarter’s results which shows reduced profit in the quarter. Profits fell 17 percent for the quarter to $16.5 million compared to the prior year. Management in their report said the “reduction was mainly due to increased distribution cost resulting from the takeover of a large contract distributor to maintain our customer service and the lease of vehicles due to accidents of two of our main distribution vehicles.” At the close of trading, there were no stocks listed to be bought and 206,849 units being offered to sell at $1.91.

Filed Under: JSE Junior Market, Stock Market

2 up 3 down on TTSE on Friday

February 13, 2015 by

Trading on the Trinidad Stock Exchange on Friday, closed with 11 securities changing hands of which 2 advanced, 5 declined and 4 traded firm with a total of 163,247 units, valued at $1,102,443.
At the close of the market, the Composite Index lost 0.47 points to close at 1,146.97, the All T&T Index fell by just 1 point to close at 1,979.4 and the Cross Listed Index increased by a mere 0.01 points to end at 41.17.
TTSE 13-2-15 Gains| Stocks increasing in price at the close are, Clico Investment Fund trading 13,434 shares, valued at $302,420 but gained 1 cent to $22.51 and Sagicor Financial Corporation with of 59,800 shares being traded for $299,598 and gained 1 cent to $5.01.
Declines| The stocks declining at the end of trading are, Guardian Holdings with 1,773 shares changing hands and lost 5 cents to end at $13.15, Point Lisas Industrial Port Development declined by 25 cents to close at $3.50 while 1,050 units were traded. Republic Bank had only 302 shares trading while the price slipped 10 cents to $118.59, Trinidad Cement with 74,482 shares changing hands for a value of $194,310 ended at $2.59, down 19 cents followed by L.J. Williams A share contributed 7,860 shares and lost 1 cent to end at 25 cents.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, First Citizens Bank traded 300 shares and closed at $35.75, Massy Holdings added 2,010 shares valued at $128,138 to close at $63.75, Scotiabank traded 1,636 units to close at $62.10 and Scotia Investments trade 600 shares to end at $1.45.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with the bid higher than their last selling prices and 4 stocks with offers that were lower.
The TTSE market will be closed on Monday and Tuesday due to carnival celebrations.

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

J$ gains against US$ on Friday

February 13, 2015 by
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There was more selling of foreign currencies than buying on Friday with purchases of all currencies by dealers, amounting to US$44,754,611 compared with the US$37,493,058, on Thursday and selling the equivalent of US$46,877,694 versus US$31,450,866 sold on Thursday.
FX sum 13-2-15 In US dollar trading, dealers bought US$41,196,909 compared to US$33,053,912 on Thursday. The buying rate for the US dollar rose 3 cents to $115.30 and US$44,678,972 was sold versus US$28,391,214 on Thursday, the selling rate fell 1 cent to $115.71. The Canadian dollar buying rate recovered 22 cents to $91.58 with dealers buying C$2,075,757, and selling C$1,484,449, at an average rate that rose 20 cents, to $92.48. The rate for buying the British Pound dipped 21 cents to $175.28 for the purchase of £1,166,987, while £461,462 was sold, at an average rate of $177.28, up by 20 cents. At the end of trading it took J$131.61 to purchase the Euro, 75 cents higher than on Thursday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.13 for 66 cents up from Thursday. Other currencies bought, amounted to the equivalent of US$134,816 while the equivalent of US$305,423, was sold.
FXHL 13-2-15Highs & Lows| The highest buying rate for the US dollar, climbed 10 cents to $116, the lowest buying rate fell $3.66 to $90.70 and the highest selling rate was unchanged at $120.91. The lowest selling rate recovered $17.59 to $113.80. The highest buying rate for the Canadian dollar dived only 25 cents to $92.85, the lowest buying rate climbed 50 cents to $72.83. The highest selling rate dipped 21 cents to $94.79 and the lowest selling rate jumped $1.65 to $88.80. The highest buying rate for the British Pound, rose 30 cents to $177.80. The lowest buying rate climbed 66 cents to $142.22, the highest selling rate fell 71 cents to $181.78 and the lowest selling rate increased $3.65 to $174.20.

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J$ gains against US$ on Thursday

February 12, 2015 by

There was much more buying of foreign currencies than selling on Thursday with purchases of all currencies by dealers, amounting to US$37,493,058 compared with the US$36,565,083, on Wednesday and selling the equivalent of US$31,450,866 versus US$48,322,723 sold on Wednesday.
FX sum 12-2-15In US dollar trading, dealers bought US$33,053,912 compared to US$33,977,211 on Wednesday. The buying rate for the US dollar fell 10 cents to $115.27 and US$28,391,214 was sold versus US$45,963,520 on Wednesday, the selling rate fell 4 cents to $115.72. The Canadian dollar buying rate recovered $1.68 to $91.36 with dealers buying C$2,001,8708, and selling C$1,360,165, at an average rate that fell 76 cents, to $92.28. The rate for buying the British Pound rose $1.78 to $175.49 for the purchase of £1,369,125, while £908,270 was sold, at an average rate of $177.08, up by $1.10. At the end of trading it took J$130.86 to purchase the Euro, 23 cents lower than on Wednesday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$128.47 for 31 cents down from Wednesday. Other currencies bought, amounted to the equivalent of US$768,256 while the equivalent of US$585,240, was sold.
FX hl 12-2-15Highs & Lows| The highest buying rate for the US dollar, climbed 15 cents to $115.90, the lowest buying rate recovered 67 cents to $94.36 and the highest selling rate rose 54 cents to $120.91. The lowest selling rate dropped $13.89 to $96.21. The highest buying rate for the Canadian dollar dived $4.90 to $93.10, the lowest buying rate declined $3.91 to $72.33. The highest selling rate dipped $6.10 to $95 and the lowest selling rate fell $4.70 to $87.15. The highest buying rate for the British Pound, rose $2.10 to $177.50. The lowest buying rate climbed $1.79 to $141.56, the highest selling rate gained $2.30 to $182.49 and the lowest selling rate increased $2.15 to $170.55.

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Rights for TCL shareholders

February 12, 2015 by

TCement_280x150Shareholders in Trinidad Cement will be offered additional shares in the company by way of a rights Issue of 124,882,568 new shares, to be priced at TT$2.90 per share. Shareholders will be offered the right to purchase one new share for every two shares held. The stock last traded at $2.70 on Thursday on the Trinidad Stock exchange. The issue if fully taken up will raise $362,159,447 for the company.
The issue will be underwritten by up to US$45 million by Sierra Trading an affiliate of Cemex SAB to ensure that the minimum funding targeted of US50 is met. In order to have the underwriting of that magnitude the company needed to and got permission of shares at an extraordinary meeting to lift a 20 percent shareholding limitation, in case the shareholders did not subscribed to enough of the rights they are entitled to.
Sierra Trading will take up the rights due them on their 20 percent ownership of the group. The agreement stipulates that if after the rights issue the underwriting company does not get up to 35 percent of the shares of TCL then there will be a private placement of TCL shares to bring the holdings to 35 percent of TCL issued shares.

Carib Cement One of the groups subsidiaries

Carib Cement One of the groups subsidiaries

For the nine months to September, profit for the group’s shareholders amounted to $60 million versus $69 million in 2013. The 2014 figures reflect cost of nearly $29 million associated with an attempt at restructuring the heavy debt the company has, but the 2013 results benefited from a tax credit of $27 million.
TCL is loaded down with debt at relatively high interest rates. The debt at the end of 2013 was just under TT$2 billion all of which has been switched to current liabilities as a result of the default occasioned by the decision of the company to suspend payment on the debt pending negotiation of the terms. Equity stood at TT$570 million at the end of September, well below the debt. All amounts are in TT dollars. If the fresh capital is raised equity will reach around $1 billion and loans should decline to around $1.3 billion by the end of 2015 or close to a one for one relationship between debt and equity. The improved capital profile of the company should allow them to finance the remaining debt at a more advantageous cost than currently.
The rights is not badly priced as the stock an IC Insider BUY RATED seal of approval is severely undervalued on the TTSE. Investors will of course take into consideration negative economic development in Trinidad its main market with the fall in oil prices world wide an its impact on revenues for the country.

Filed Under: Company News, General Business News Tagged With: , , ,

Lower rates to drive JPS profits

February 12, 2015 by

JPSThere has been much made about the OUR cutting the rate for Jamaica Public Service (JPS) and the likely effect on investment in the sector. Unfortunately, many who are critical of the reduction failed to make the point that when JPS was guaranteed a 16 percent rate of return, interest rates locally were well above present levels.
Secondly, just over 12 percent after tax is a good rate of return when one considers that international interest rate are so low and treasury bills rate locally, have been declining and is now under 7 per annum. One of the most telling factors is that JPS is by no means the most efficient company especially with its plants, and newer ones will reduce cost to operate, thus helping to improve their bottom line. Most telling now, is that the lower price of electricity occasioned by lower oil prices will drive up consumption thus helping to improve JPS profits. With the latest announcement of a cut in billing rates JPS must be quietly cheering and hoping that oil remains low for a very long time.
In its latest release the power company states that “the Fuel & IPP charge on bills will be reduced by 18%, moving from $19.350 per kWh in January to $15.760 per kWh on bills this month. This will contribute to an overall reduction of 11% on customers’ bills should their usage remain consistent.”
It is also important to note that the Fuel and IPP Rate in US terms for February is 13.608 cents, the lowest the rate has been in US denomination in almost six years. The Fuel and IPP charge makes up more than 60% of customers’ electricity bills, and changes from one month to the next, depending on how much JPS pays Petrojam for the oil used to produce electricity. The fuel rate that appears on bills each month is based on the cost of the fuel used to generate electricity in the previous month.”
“JPS encourages customers to continue their conservation efforts, despite the drop in the Fuel Charge on bills, as the total amount on bills is determined by how much electricity is used.”

Filed Under: Company News, General Business News Tagged With:

11 stocks fall V 7 rising on JSE

February 12, 2015 by

JP traded 3.3 million shares on Thursday

JP traded 3.3 million shares on Thursday

In Thursday’s activity on the Jamaica Stock Exchange, Jamaica Producers was the dominant trade with 3.3 million shares valued at more than $56 million. The bulk of the trades were done between Proven Wealth as the broker selling and JMMB securities as the buying broker. The market closed with the prices of 7 stocks rising, 11 declining as 21 securities changed hands, ending in 9,405,774 units trading, valued at $71,370,572, in all market segments.
strong> Main Market| The JSE Market Index lost 74.26 points to 78,232.91, the JSE All Jamaican Composite index fell 83.03 points to close at 86,186.33 and the JSE combined index declined by 115.44 points to 80,117.64.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 9 stocks with bids higher than their last selling prices and only 2 stocks with offers that were lower.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Desnoes & Geddes in concluding trading with 17,732 shares, the price jumped 8 cents to $4.90, Hardware & Lumber closing with 69,100 shares while gaining 7 cents to $6.57, but after 49,100 units traded at $7.70. Palace Amusement finished with 150 shares to end with an increase of $4 to $70 and Sagicor Real Estate Fund in trading 850 units, put on 15 cents to $6.95.
Firm| The stocks in the main market to close without a change in the last traded prices are, Jamaica Money Market Brokers finished with 121,051 ordinary shares trading at $7 and Jamaica Producers closed with 3,306,500 shares changing hands at $17.
JSE sum 12-2-15 Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Caribbean Cement finishing with 2,535 units trading to end 1 cents lower at $2.40. Carreras ending trading with 3,681 shares to decline by 50 cents at $44.50, Jamaica Broilers closing with 12,085 shares changing hands 5 cents down at $4, Margaritaville closed with just 190 units trading, as the price slipped 7 cents to 9.80 US cents. Mayberry Investments had 75,000 shares trading lower by 4 cents to $1.96, Radio Jamaica closed with 5,642 shares changing hands to close lower by 1 cent to $1.10, Sagicor Group ending with 10,000 units trading 5 cents lower to $10.25 and Scotia Group finished with 96,000 units to fall 45 cents to $20.05.
Preference| Jamaica Money Market Brokers 7.50% preference share closed with 5,132,700 units changing hands $2.

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

Carib Producers’ results hit stock

February 12, 2015 by

CaribbeanProducers(CPJ)280X150 Activity on the Junior Market ended with Caribbean Producers pulling back today, after gaining on Wednesday, on robust volume of 4,393,426 shares. The company reported much improved results over the poor first quarter numbers, with the latest figures showing slightly lower profit for the December quarter of US$1.03 million versus US$1.18 million, for the similar period in 2013. For the year to December, profit is in at US$1.012 million versus US$1.62 million.
JM 12-2-15Trading closed with 6 securities being active, ending with 552,558 units changing hands valued at $1,033,150. The JSE Junior Market Index declined 4.90 points to close at 701.53, with the prices of 2 stocks advancing and 3 declining.
At the close of the market, there were 3 stocks with bids higher than their last selling prices and 1 with the offer that was lower. The junior market ended with 5 securities closing with no bids to buy and 7 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, Lasco Distributors ending trading with 11,540 shares changing hands, 1 cent higher at $1.46, Lasco Manufacturing closing with just 4,000 shares trading as the price gained 1 cent to end at $1.16, General Accident ending with 236,240 shares trading at $1.65. AMG Packaging lost 27 cents with 7,500 units trading as the price closed at $2.22, Caribbean Producers trading 276,000 shares and closed lower by 20 cents to $2.10 and Lasco Financial closed with 17,278 shares changing hands 4 cents lower at $1.06.

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

WITCO up $1 to $124 on TTSE

February 12, 2015 by

West Indian Tobacco closed at a new 52 weeks' high of $124 on Thursday.

West Indian Tobacco closed at a new 52 weeks’ high of $124 on Thursday.

Trading on the Trinidad Stock Exchange closed with 11 securities changing hands of which 2 advanced, 3 declined and 6 traded firm with a total of 297,532 units, valued at $1,836,996 with West Indian Tobacco closing at a new 52 weeks’ high after putting on $1.
At the close of the market, the Composite Index lost 0.17 points to close at 1,147.44, the All T&T Index rose by just 0.02 points to close at 1,980.45 and the Cross Listed Index fell 0.05 points to end at 41.16.
Gains| Stocks increasing in price at the close are, Trinidad Cement with 168,280 shares changing hands for a value of $447,913 and gained 2 cents to end at $2.78 and West Indian Tobacco traded 2,500 shares, increasing 80 cents to a new 52 weeks’ high of $124.
Declines| The stocks declining at the end of trading are, Grace Kennedy traded 57,898 shares being traded for $208,483 but lost 5 cents to end at $3.60. Massy Holdings declined 12 cents to close at a new 52 weeks’ low of $63.75 while 7,825 units were traded, valued at $498,844, National Enterprises traded 400 shares to close at$17.35 after shedding 5 cents and
TTSE 12-2-15 Firm Trades| Stocks closing with prices unchanged at the end of trading are, Clico Investment Fund trading 6,085 shares valued at $136,988 at $22.51, First Citizens Bank trading 310 shares at $35.75, Jamaica Money Market Brokers with 5,000 shares closing at 43 cents. National Flour Mills adding 10,050 shares at $1.45, Point Lisas Industrial Port Development trading 485 units at $3.75 and Sagicor Financial Corporation contributed 36,199 shares with a value of $180,995 to end at $5.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator shows 7 stocks with the bid higher than their last selling prices and 4 stocks with offers that were lower.

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