Good gains for JSE indices on Monday

After falling sharply on Friday the Jamaica Stock Exchange climbed on Monday, when the All Jamaican Composite Index rose 1,436.28 points to close at 338,098.53 and the JSE Index rising 1,308.61 points to 308,045.93 as trading levels was miniscule.
Activities in the main market and US dollar market resulted in 28 securities trading including 4 from the US dollar market, compared to 30 securities trading on Friday. At the end of trading, the prices of 9 stocks advanced, 11 declined and 8 closed unchanged from an exchange of 1,455,806 units valued just $24,016,207, compared to 6,932,808 units valued $147,102,076 on Friday.
The day’s volume was led by, Victoria Mutual Investments with 435,070 shares amounting to 29.9 percent of the volume traded followed by Supreme Ventures with 195,697 units or 13.44 percent of the day’s volume.
Stocks with major price changes are, Caribbean Cement rose $1.50 and finished at $42.50, with 80,467 shares, Grace Kennedy climbed $1.25 and ended at $53, trading 11,209 shares. Kingston Wharves jumped $2 finished at $52 with 15,755 stock units, NCB Financial Grouprose $1.50 to $96, with 30,760 shares, PanJam Investment dropped 50 cents and closed at $54.50, as 5,784 stock units traded. Portland JSX lost 90 cents as 8,000 shares traded at $9, Sagicor Group rose 86 cents to $40 with the trading of 119,751 units, Seprod lost $1 to $34.50 in trading 2,851 units and Supreme Ventures ended at $16, with 195,697 shares and rose $1.
Trading resulted in an average of 60,659 units valued $1,000,675, in contrast to 266,646 shares valued at $5,657,772on Friday. The average volume and value for the month to date amounts 160,016 units valued at $3,037,085 compared to 168,594 units valued at $3,230,262 on Friday. June closed with an average of 250,168 shares with a value of $5,895,281, for each security traded.
Trading in the US dollar market continue to be modest and closed with 40,390 units valued at US$23,566. JMMB Group 6% preference share completed trading at $1.03 with 20,000 stock units, Margaritaville gained 1.5 cents and finished at 16.8 US cents with 20,000 shares changing hands, Proven Investments lost 3 cents and closed at a 52 weeks’ low of 15 US cents trading 11,940 shares and Sygnus Credit traded 7,500 units and lost 1 cent to end at 11 US cents. The JSE USD Equities Index dropped 2.67 points up to 149.38.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 4 stocks ended with bids higher than their last selling prices and 2 closing with lower offers.

12 Junior Market stocks rise 11 fall – Monday

The prices of 12 securities rose, 11 declined and 5 traded unchanged, resulting from 28 securities changing hands on the Junior Market of the Jamaica Stock Exchange on Monday, compared to 20 trading on Friday.
At the close of trading, the market Index declined by 30.80 points to close at 3,036.12, with 1,119,859 units valued at $4,503,207 changing hands, compared to 806,470 units valued at $3,015,197 on Friday.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 8 stocks ending with bids higher than their last selling prices and none with a lower offer.
Trading closed with an average of 39,995 units for an average of $160,829 in contrast to 40,324 units for an average of $150,760 on Friday. The average volume and value for the month to date amounts to 241,183 units valued at $954,077 and previously 268,008 units valued at $1,059,844. June closed with an average of 139,543 units, valued at $671,002 for each security traded.
At the close of trading, Blue Power closed at $40, with 1,345 shares changing hands, CAC 2000 concluded trading with a loss of 1 cent at $9, with 7,782 units, Cargo Handlers finished with a loss of 15 cents at $9.50, with 830 shares changing hands, Caribbean Cream settled with a loss of 50 cents at $5.75, trading 3,100 shares, Caribbean Flavours ended trading 7 cents higher at $11.67, with just 368 shares changing hands, Caribbean Producers traded 27,442 stock units and rose 5 cents to $5.35. Consolidated Bakeries closed 1 cent higher at $2.01, with 3,000 units, C2W Music ended 10 cents higher at 52 weeks’ closing high of $1.65, with 33,143 shares, Derrimon Trading closed with a loss of 3 cents at $20, with 18,000 shares, Elite Diagnostic fell 4 cents to end at $2.96, with 7,000 stock units. Everything Fresh gained 8 cents and closed at $2.10 after 83,788 units changed hands, Express Catering ended trading with a loss of 20 cents at $7.30, in exchanging 17,324 shares, FosRich Group traded 14 cents higher at $2.71, with 387,471 shares, General Accident finished trading 10,447 shares and rose 5 cents to $3.05, GWest Corporation closed 5 cents higher at $2.40, with 15,000 stock units. Honey Bun traded 19,729 units to end at $5, Jamaican Teas settled 15 cents higher at $5.30, with 293 shares, Jetcon Corporation traded 6,163 stock units and ended at $4.10, Key Insurance traded 1 cent higher at $3.02, with 300 units. Knutsford Express closed at $11.50, after 1,800 shares traded, Lasco Distributors ended 9 cents higher at $4, with 244,516 shares, Lasco Financial concluded trading with a loss of 18 cents at $5.03, exchanging 60,982 stock units, Lasco Manufacturing lost 30 cents to end at $3.90, with 19,000 units. Main Event settled with a loss of 18 cents at $6.82, after trading 19,897 shares, Medical Disposables ended trading 125,156 shares with a loss of 1 cent to close $4.99, Stationery and Office Supplies closed 5 cents higher at $8.10, with 4,385 stock units and Sweet River closed with a loss of 10 cents at $3.70, with 198 units. In the junior market preference segment, Derrimon Trading concluded trading at $2.50 with 1,400 units changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Inflation in June but deflation intact

Jamaica recorded an increase of 0.4 percent inflation for June, leaving country still in deflation for the year to June at negative 0.3 percent and inflation for the last twelve months to 2.8 percent.
“Housing, Water, Electricity, Gas and Other Fuels, moved up by 1.2 percent, an upward movement in the rate for electricity resulted in the group ‘Electricity, Gas, and Other Fuels increasing by 2 percent.

The price of electricity helped spike inflation in June.

While Water Supply and Miscellaneous Services Related to the Dwelling increased by 0.8 percent as a result of higher water and sewage rates. Food and Non-Alcoholic Beverages rose 0.3 percent due to an increase of 0.7 per cent in the class ‘Vegetables and Starchy Foods. Higher prices were recorded for produce such as Irish potato, yam, carrot, lettuce and onion during the month under review” the Statistical Institute of Jamaica (STATIN) indicated. Transport recorded an increase of 0.8 percent for the period, mainly due to increased prices for petrol the STATIN concluded.

Unilever & Witco jumps sharply on TTSE – Monday

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Unilever’s rose sharply on Monday

Unilever Caribbean jumped $2.48 to $29.23, trading 947 shares and West Indian Tobacco climbed $1.66 to $88.49, exchanging 6,826 shares on the Trinidad & Tobago Stock Exchange on Monday, and pushed the market higher.
At the close, 16 securities traded against 14 on Friday as 5 advanced, 2 declined and 9 remained unchanged. The Composite Index advanced 2.31 points to 1,224.13, the All T&T Index gained 2.05 points to 1,721.42 and the Cross Listed Index put on 0.35 points to close at 97.60.
Trading ended with 355,041 shares at a value of $3,374,053, compared to 255,565 shares on Friday valued at $8,523,843.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows market sentiment with 3 stocks ending with higher bids than the last selling prices and 3 with lower offers.
Gains| First Citizens finished trading at $35 after rising 9 cents, in exchanging 1,762 shares, NCB Financial Group closed with an increase of 5 cents and settled at $5.40, trading 275,542 shares and Republic Financial Holdings gained 3 cents and concluded trading at a 52 weeks’ high of $102.80, after 912 shares changed hands.
Losses| Clico Investments shares fell 20 cents and ended at $20.30, with 1,980 stock units changing hands and Prestige Holdings lost 1 cent and completed trading at $10, with 169 units.
Firm Trades| Guardian Holdings completed trading at $16.51, with 400 units, JMMB Group exchanged 60 shares at $1.85, Massy Holdings concluded trading at $47, after exchanging 418 shares, National Enterprises ended at $9.55, with 2,500 stock units changing hands, One Caribbean Media closed at $12, after exchanging 44,000 shares, Point Lisas ended at $3.81, with 1,873 stock units changing hands, Scotiabank completed trading of 2,129 units at $65.10, Trinidad & Tobago NGL ended at $29.75, with 11,035 stock units changing hands and Trinidad Cement completed trading of 4,488 units at $2.95.
Prices of securities trading for the day are those at which the last trade took place.

Stocks to Watch this week

Caribbean Cream’s Kremi product

There are clear signs that the usual summer rally has started on the Jamaica Stock Exchange, with the main market hitting new highs on all five trading days during the past week, and ending at record closing highs on all, except on Friday.
The main market entered record territory, minutes after opening on Friday with the All Jamaican Composite Index climbing 1,082.40 points to an intraday record of 340,315.50 and the JSE Index rising 986.19 points to a record 310,065.85. The market is being steered higher by an upward sloping support line as well the 45 and 125 day moving averages, lending support just below the index for the main market and the Junior Market is being steered by an upward rising long term support line.
The market saw many developments that confirm that a bull market is in place. Mayberry Jamaican Equities initial public offer, opened and closed on Monday, having been oversubscribed and Indies Pharma public offer opened on Thursday and closed on Friday but Stanley Motta remains opened after more than a week since the offer opened.
Elsewhere in the secondary market, Jamaica Broilers traded briefly at a record high of $33, others trading at 52 weeks’ high in the main market are Kingston Wharves trading at $52.03, PanJam Investment at $58.99 and Pulse Investments trading up to $3.50, but 138 Student Living, having fallen to a 52 weeks’ low of $4.40 the previous week fell even lower in this past week to $3.85,
Former TOP 10 Junior Market listing, Derrimon Trading ordinary share, hit at an all-time high of $23 during the week. Current TOP 10 listing, CAC2000 hit a new record high of $10 as well as C2W Music climbed to $1.60, while recently listed Everything Fresh traded at an all-time low of $1.95 since listing in June. US dollar market listings, Margaritaville and Proven Investments both traded at a 52 weeks’ lows during the week as investors seem to lose interest in the US dollar listed shares.
The main market is exhibiting strong bullish signals while the Junior Market seems more subdued apparently waiting on the release of results.

Stationery & Office Supplies new book making operation.

Against this back drop there could be some interesting developments in in the market in the coming days. Based on demand and supply of stocks and trading activities last week the stocks worth watching this week include, Caribbean Cream that jumped sharply on Friday after the company reported improve first quarter results, NCB Financial pulled back in the past week but may be constrained by the $100 mark until the group reports third quarter results by month end. PanJam Investment could move higher again, as there continues to be buying but there is very limited supply of the stock on offer. Radio Jamaica that came for increased buying recently seems to be seeing supplies coming to market at $1.20 or higher and could get more attention as the weeks roll on. Others worth watching include Caribbean Cement, Berger Paints with little selling, Grace Kennedy for which there is also limited supply. In the Junior market, some demand exists for Derrimon Trading, with a resolution to be voted on at the upcoming AGM to split each share into 10 units, but the price may be stuck around the $20-23 range with the PE more than 20 times 2018 earnings compared to the market average of 11.4. Stationery and Office Supplies continues to trade around the $8 mark, with limited supply on offer, the stock is worth watching but may require second quarter results to kick the price to another level. With the directors stating that they have discussed the possibility of a stock split in the past, the stock can be expected to be one to see a split probably by the next AGM, investors should be stock piling this one with the price being undervalued. Jamaican Teas pulled back in the past week from $5.50 to $5 this week, but with limited stocks being offered for sale, is worth watching. Wisynco seems to have found support just above $9 and is one to watch over the next few weeks as the release of full year result nears, the Jamaican Stock Exchange is another to be watched along with JMMB Group and Seprod.

More records ahead for JSE

The main market of the Jamaica Stock Exchange closed at a record high on first four days last week and shot to a record high during Friday’s trading but failed to hold above the 340,000 points it traded at, but the market is heading much higher.
The chart shows that 340,000 mark, as a resistance point, which may require sometime before it is fully taken out and the market moves higher. The chart is showing a pattern for 2018 that is close to that for 2017. The market having risen in January last year, went sideways with an upwards bias until July and then broke out of the channel went on to a peak in November. For 2018, the market has slowly moved upwards within a narrow channel but could break out as it did in 2018 with a bullishness seen over the past two weeks.
The market is being steered higher by a long term upward sloping support line as well the 45 and 125 day moving averages, lending support just below the index for the main market and the Junior Market is being steered by an upward rising long term support line.

Several changes to IC TOP stocks

There are several changes to the TOP stocks, following an eventful week of trading on the Jamaican Stock Exchange, with the main market posting records on all five days and closing at record highs, on four of them.
Former TOP 10 Junior Market listing, Derrimon Trading ordinary share, traded at an all-time high of $23 during the week, while former TOP 10 main market listings also hit new highs during the week, these are Jamaica Broilers trading briefly at a record high of $33, PanJam Investment at $58.99 and Pulse Investments trading up to $3.50 and current TOP 10 listing, CAC2000 hits a new record high of $10.
The TOP 10 listings at the end of the week, have a number of changes. Caribbean Producers returns with after the price slipped back to $5.30 from $5.50 and Caribbean Cream that was shunned by investors based on poor 2018 full year results, jumped 29 percent to $6.25 following the release of the first quarter results, with profit rising 59 percent. Medical Disposables renters the TOP 10 as well as Elite Diagnostic, replacing AMG Packaging and Caribbean Flavours both with earnings downgrade. Proven Investments US dollar listed stock is now in the TOP 10 with the price closing down to 18 US cents during the week and Victoria Mutual Investments return to the list, replacing Salada Foods and Grace Kennedy that rose from $52 to $54.
The PE ratio for Junior Market Top stocks averages 6.7 compared to an average PE for the overall market of 11.4, based on 2018 estimated earnings and the main market PE stands at 7.8 for the top stocks, compared to a market average of 13, this is a good indication of the level of undervaluation of these stocks.
The sharp movement in the prices of some main market stocks this past week, encouraged by minimal supplies, is a warning sign of a tsunami that is on the way for the market, to late comers to buying try to join the party but at a much higher prices than weeks ago.
The TOP 10 stocks now trade at an average discount of 41 percent to the average for the Junior Market Top stocks but it’s a third of what the average PE for the year is likely to be of 20 times earnings and main market stocks traded at a discount of 40 percent to the market.

Verdi’s Il Trovatore Sunday at Cineplex

Il Trovatore

Palace Amusement’s Met Summer Encores, continue this Sunday at Cineplex with Guiseppe Verdi’s Il Trovatore, a tale of mistaken identities, revenge and jealousy.
This latest offering commences this Sunday at 11: 30 at Palace Cineplex. Soprano Anna Netrebko’s dramatic and vocal skills are on full display in her role as—Leonora, the Verdi heroine who sacrifices her own life for the love of the gypsy troubadour. Tenor Yonghoon Lee sings the ill-fated Manrico, baritone Dmitri Hvorostovsky is his rival, and mezzo-soprano Dolora Zajick is the mysterious gypsy with the troubled past. Marco Armiliato conducts Sir David McVicar’s Goya-inspired production.

The Escape Plan 2 – Survive & GET OUT!

Palace Amusement Company brings another summer release to the big screen at it cinemas in its three movie houses in Montego Bay and Kingston.
in the latest offering, Ray Breslin (Academy Award ® nominee Sylvester Stallone) manages an elite team of security specialists trained in the art of breaking people out of the world’s most impenetrable prisons.
But when one of his team members goes missing inside a computerized techno-terror battle-maze known as HADES, Breslin together with Trent DeRosa (Dave Bautista) and Hush (50 Cent) must now decipher a way to break into the world’s best hidden prison, release their kidnapped team, and make it out alive. Written by Miles Chapman and directed by Steven Miller, this action thriller is a sequel to the 2013 film; The Escape Plan.

Skyscraper – The heights of courage

Global icon Dwayne Johnson leads the cast of Legendary Entertainment’s Skyscraper as Will Sawyer- former FBI Hostage Rescue Team leader and US war veteran, who now assesses security for skyscraper buildings.
Johnson is on assignment in China when he finds the tallest, safest building in the world suddenly ablaze, and he’s being framed for it. A wanted man on the run, Will Sawyer must find those responsible, clear his name and somehow rescue his family, who is trapped inside the building, above the fire line. Written and directed by Rawson Marshall Thurber (Central Intelligence, We’re the Millers), the 3D action-thriller is produced by Beau Flynn (Rampage, San Andreas), Johnson, Thurber and Hiram Garcia (Rampage, San Andreas, Jumanji). The film also stars; Neve Campbell, Pablo Tell Schreiber and Byron Mann.