Forex trading drops on Thursday

Trading volumes declined sharply in the Jamaica foreign currency market on Thursday, but the average trading rate against the US dollar fell, with inflows of US$27.57 million of all currencies and sale of US$34.96 million.
On Wednesday, the market closed with the equivalent of US$34.93 million bought by dealers of all currencies, while they sold US$54.24 million.
The Jamaica dollar gained modestly in value against the US dollar, at the close of foreign currency trading, with dealers selling US$31.29 million for 8 cents less than on Wednesday with the US dollar selling rate closing at J$125.37, compared to J$125.45 in the sale of $49.50 million at the close, on Wednesday. Purchases of the US currency by dealers, amounted to just US$23.18 million, with the average rate falling 8 cents to $123.65, compared to US$30.26 million, with the average rate of $123.73 on Wednesday.
At mid-day on Thursday dealers purchased US$7.34 million at an average rate of J$124 and sold $9.8 million at an average of J$125.37. At mid-day on the previous trading day, dealers purchased US$13.17 million at an average rate of J$124.42 and sold $15.78 million at an average of J$125.54.
The Jamaican dollar closed trading, with the selling rate for the Canadian dollar, inched up to J$99.57 from J$99.54 at the close on Wednesday. The selling rate for the British Pound rose to J$178.11 from J$177.61 previously and the euro declined versus the Jamaican dollar to J$156.55 to buy the European common currency, versus the prior selling rate of J$158.54.

US$ rate rises in BOJ FX auction

A total of 29 offers from dealers amounting to $18.35 million were presented for sale to Bank of Jamaica in the second buy side of B-FXITT foreign exchange auction held on Wednesday this week.
The bank accepted 22 offers for the US$12 million it offered to buy. Despite the excess supply, the rate for the US dollar rose above the average rates dealers sold to the general public at since beginning of last weeks. The average in the first buy auction held on April 11, resulted in an average rate of $125.42. The average rate came out at 125.93 for accepted offers but was J$126.24 for all amounts that were offered for sale. The highest priced offer was at U$127.50 and the lowest J$124.90.

T-bill rates lowest on record – April

Jamaica’s Ministry of Finance newest office building

Treasury bill rates declined to the lowest level on record, in the latest auction of bills on Wednesday this week. Information out of the country’s central bank in March indicates that there are no records with lower rates.
Rates for the $700 million 182 days instrument on offer fell below 3 percent for the first time with the average ending at just 2.979 percent and the 91 days bill ended at an average slightly above 2.818 percent for the $700 million that was also on offer for the shorter duration.
A total of $2.56 billion chased after the amount offered for the shorter dated issue, while a total of $2.92 billion chased the amount for the longer dated issue.
In March, rates fell to 2.977 percent for the 91 days bill, as $2.54 billion went after $600 million offered and the 192 days closed at an average of 3.172 percent with $2.48 billion going after $600 million offered.

Junior Market strengthens – Wednesday

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Lasco Distributors traded 3.78M shares.

The Junior Market rose at the close of trading on Wednesday with 20 securities changing hand, similar to that on Tuesday, leading to gains in 10 and declines in 5, while 5 remained unchanged. The Junior Market Index gained 11.96 points to end at 2,916.53.
Trading ended with an exchange of 4,712,347 units valued at $19,953,457 compared with just 1,074,280 units valued at a mere $4,821,468.
Market activity ended with an average of 235,617 units for an average of $997,673 compared to an average of 53,714 units for an average of $241,073 on Tuesday. The average volume and value for the month to date, amounts to 146,912 units at $599,293 compared to 139,096 units at $564,194 on the prior trading day. March closed with an average of 149,999 units valued at $623,819, for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows just 9 stocks ending with bids higher than the last selling prices and 3 with lower offers.
At the close of the market, AMG Packaging ended 6 cents higher at $2.06, with the trading of 76,950 stock units, Caribbean Producers finished trading with a loss of 35 cents at $4.65, with 41,835 units, C2W Music ended with a loss of 1 cent at 43 cents, with 14,000 shares, Derrimon Trading concluded trading 15 cents higher at $9.15, with 67,000 shares, Elite Diagnostic settled with a loss of 1 cent at $3.18, trading 34,294 units. Eppley ended trading with a loss of 1 cent at a 52 weeks’ low of $9.50, with 17,350 shares changing hands, Express Catering traded 8 cents higher at $5.33, with 20,000 shares, FosRich Group finished trading at $2.55, with 143,514 shares, General Accident closed 15 cents higher at $3.15, with 25,000 stock units. ISP Finance settled 1 cent higher at $15, with 17,607 shares, Jamaican Teas ended trading after rising 3 cents to $5.03, with 25,000 stock units, Jetcon Corporation traded 1 cent higher at $4.16, with 73,064 units, Key Insurance finished trading with a rise of 40 cents to $3.40, with 121 shares. Knutsford Express ended at $14, with 200 shares traded, Lasco Distributors gained 13 cents to close at $4.15, with 3,775,816 stock units, Lasco Financial finished at $5.20, with 117,512 units, Lasco Manufacturing settled with a loss of 1 cent at $3.99, with 40,184 shares. Main Event ended trading 5 cents higher at $6.10, with 70,000 shares, Paramount Trading finished trading at $3.10, with 5,000 stock units and Stationery and Office closed at $6, with 147,900 units changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Jamaican$ falls vs US – Wednesday

The Jamaica dollar fell in value against the US dollar at the close of foreign currency trading, with dealers selling US$49.50 million for 40 cents more than on Tuesday.
The US dollar selling rate closed at J$125.45, compared to J$125.05 in the sale of $32.71 million at the close, on Tuesday. Purchases of the US currency by dealers, amounted to US$30.26 million, with the average rate rising just 1 cent to $123.73, compared to US$30.62 million, with the average rate of $123.72 on Tuesday.
The market closed with inflows of US$34.93 million of all currencies, versus US$36.58 million on Tuesday, while dealers sold US$54.24 million in contrast to US$41.30 million, in the previous trading session.
At mid-day on Wednesday dealers purchased US$13.17 million at an average rate of J$124.42 and sold $15.78 million at an average of J$125.54. At mid-day on the previous trading day, dealers purchased US$16.4 million at an average rate of J$124.33 and sold $10.84 million at an average of J$124.90.
The Jamaican dollar closed trading, with the selling rate for the Canadian dollar, dropped back to J$99.54 from J$102.46 at the close on Tuesday. The selling rate for the British Pound fell to J$177.61 from J$178.04 previously and the euro jumped versus the Jamaican dollar to J$158.54 to buy the European common currency, versus the prior selling rate of J$154.89.

Big gains for JSE majors – Wednesday

Kingston Wharves jumped $5 to a record close at $45 on Wenesday.

There was just modest volume trading on the Jamaica Stock Exchange main market on Wednesday with the JSE All Jamaican Composite Index jumped 2,508.77 points to 322,941.94 and the JSE Index climbed 2,285.77 points to 294,236.60.
At the close, 24 securities traded, compared to 25 on Tuesday and ended with the prices of 16 stocks rising, 4 falling and 4 trading firm, in the main and US dollar markets.
At the close of trading Berger Paints jumped $1.02 to $19.22, Kingston Wharves jumped $4 to record closing high of $45, NCB Financial rose 98 cents to $05.99, PanJam Investment climbed $1.25 to $43, Scotia Group rose $1.03 to $52 and Seprod was up 99 cents to $34.
Main market activity ended with 4,971,238 units valued at $81,421,271 changing hands compared to 3,313,428 units valued at $132,584,977 on Tuesday. At the close of trading Carreras closed with the largest volume of 1,661,256 units, amounting to 33.42 percent of the overall volume traded, followed by Scotia Group with 647,818 shares or 13 percent of the volume traded and Radio Jamaica with 563,453 units or 11.33 percent of the day’s volume.
Trading resulted in an average of 216,141 units valued at an average of $3,540,055 for each security traded. In contrast to 138,060 units for an average of $5,524,374 on Tuesday. The average for the month to date is 897,409 shares with a value of $4,795,531 and previously 947,792 shares with a value of $4,897,207. In contrast, March closed with an average of 626,526 units with an average value at $20,492,207 for each security traded.
The US dollar market closed on Wednesday with Proven Investments finishing trading at 20 US cents after trading 30,955 shares for US$6,410. Trading ended with a rise of 3.31 points in the market index to 164.15 as the average price of Proven inched higher during the day.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 5 stocks ended with bids higher than their last selling prices and 2 with a lower offers.
For more details of market activities see – JSE main market trading climbs – Wednesday.

Witco heads falling TTSE prices – Wednesday

West Indian Tobacco stock price dropped $3.51 to end at $85 and was the main reason for a big dip in the Trinidad & Tobago Stock Exchange index on Wednesday.
Declining stocks had the upper hand over advancing ones five to one as the market index sank further for the week to date. The number of securities traded dropped to 10 against 17 on Tuesday as the market closed with just 1 stock advancing, 4 declining and 5 remaining unchanged. Trading ended with 351,112 shares at a value of $12,063,114 compared to 96,389 shares at a value of $1,565,623 on Friday.
At close of the market the, Composite Index shed 5 points on Wednesday to 1,231.00, the All T&T Index dropped 9.87 points to 1,687.52, while the Cross Listed Index remained unchanged to close at 104.30.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows the market continuing to be weak as it closed with 3 stocks ending with bids higher than the last selling prices and 5 with lower offers, an indication of the continuation of a weak market currently.
Gains| Trinidad & Tobago NGL settled with a gain of 2 cents at $27.50, after exchanging 13,275 shares.
Losses| Guardian Holdings closed with a loss of 30 cents and completed trading at $15, after exchanging 59,627 shares, Scotiabank lost 14 cents in closing at $62.51 with 148,531 units changing hands, Trinidad Cement lost 27 cents and ended trading at $2.60, with 1,600 stock units changing hands West Indian Tobacco concluded trading with a loss of $3.51 to close at $85, after exchanging a mere 150 shares.
Firm Traded| Clico Investments traded 12,785 units at $20.16, First Caribbean International Bank completed trading at $8.90, after exchanging 33,030 shares, First Citizens settled at $32.55, after exchanging 1,850 shares, Republic Financial Holdings concluded market activity at $101.58, with 2,197 stock units changing hands and Sagicor Financial ended trading 10 cents lower and $7.70, trading 74,685 units.
Prices of securities trading for the day are those at which the last trade took place.

Modest gains for JSE majors – Tuesday

Carib Cinema, the flagship for Palace Amusement, the company’s stock climbed $29 on Tuesday.

There was just modest volume trading on the Jamaica Stock Exchange main market on Tuesday with the JSE All Jamaican Composite Index increased by 144.01 points to 320,433.17 and the JSE Index advanced by 131.21 points to 291,950.83.
At the close, 25 securities traded, compared to 28 on Monday and ended with the prices of 9 stocks rising, 11 falling and 5 trading firm, in the main and US dollar markets.
At the close of trading Palace Amusement jumped $29 to $780 and Seprod fell $2.39 to $33.01 as only two securities with major price movements.
Main market activity ended with 3,313,428 units valued at $132,584,977 compared to 2,407,626 units valued at $18,652,792 on Monday. At the close of trading, NCB Financial Group closed trading with 1,244,263 units accounting for 37.55 percent of the volume traded and Ciboney Group with 962,000 units and 29 percent of the day’s volume.
Trading resulted in an average of 138,060 shares valued at $5,524,374, for each security traded, compared to 89,171 shares valued at $690,844 on Monday. The average for the month to date is 947,792 shares with a value of $4,897,207 and previously 1,015,505 shares with a value of $4,839,315. In contrast, March closed with an average of 626,526 units with an average value at $20,492,207 for each security traded.
The US dollar market closed on Tuesday with Proven Investments finishing trading at 20 US cents after trading 4,206 shares for US$841. Trading ended with an unchanged market index of 162.84.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 89stocks ended with bids higher than their last selling prices and 4 with a lower offers.
For more details of market activities see – JSE main market trading climbs – Tuesday.

Junior Market consolidating – Tuesday

 

Stationery & Office Supplies traded at new record high on Tuesday.

At the close of Junior Market activities, 20 securities changed hands compared 24 securities on Monday leading to declines in the prices of 7, with 6 rising, while 7 remained unchanged and leading to the Junior Market Index declining 1.38 points to 2,904.57.
Trading ended with an exchange of 1,074,280 units valued at $4,821,468 compared with 1,793,298 units valued at $7,093,168.
Market activity ended with an average of 53,714 units for an average of $241,073 compared to an average of 74,721 units for an average of $295,549 on Monday. The average volume and value for the month to date, amounts to 139,096 units at $564,194 compared to 147,346 units at $595,413 on the prior trading day. March closed with an average of 149,999 units valued at $623,819, for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows just 9 stocks ending with bids higher than the last selling prices and 4 with lower offers.
At the close of the market, AMG Packaging ended at $2, with 22,875 stock units changing hands, Cargo Handlers settled with a loss of 48 cents at $9.55, with 4,340 shares, Caribbean Cream ended trading with a loss of $1.30 to $4.50, with 17,648 shares changing hands, Caribbean Flavours traded at $11, with 4,000 stock units, Caribbean Producers finished trading at $5, with 1,420 units. Elite Diagnostic settled with a loss of 24 cents at $3.19, with 97,662 units, Express Catering traded with a loss of 5 cents at $5.25, with 92,624 shares, FosRich Group finished trading 15 cents higher at $2.55, with 17,000 units, General Accident closed 5 cents higher at $3, with 167,500 stock units. Honey Bun concluded trading 2 cents higher at $4.42, with 5,895 shares, ISP Finance settled with a loss of 1 cent at $14.99, exchanging 933 shares, Jamaican Teas ended trading at $5, with 80,444 stock units, Jetcon Corporation traded at $4.15, with 35,793 units. Knutsford Express ended $1.52 higher at $14, with 4,907 shares, Lasco Financial finished with a loss of 8 cents at $5.20, trading 136,497 units, Lasco Manufacturing settled 1 cent higher at $4, with 137,622 shares, Main Event ended trading 5 cents higher at $6.05, with 11,963 shares. Paramount Trading ended at $3.10, with 47,094 stock units changing hands and Stationery and Office closed at $6, after trading at an intraday record high of $6.20 with 177,063 units. In the Junior Market preference segment, Eppley ended with a loss of 25 cents at $6, trading 11,000 stock shares.
Prices of securities trading for the day are those at which the last trade took place.

More Jamaican$ gains vs US – Tuesday

At the close of trading in the foreign currency market the Jamaica dollar continued to gain strength, with dealers selling the US$32.71 million for 8 cents less than on Monday with US dollar selling rate closing at J$125.05, compared to $39.54 million at J$125.13 at the close, on Monday.
Purchases of the US currency by dealers, amounted to US$30.62 million, with the average rate falling 21 cents to $123.72, compared to US$46.21 million, with the average rate of $123.93 on Monday.
The market closed with inflows of US$36.58 million of all currencies, versus US$53.39 million on Monday and dealers sold US$41.30 million in contrast to US$46.59 million, in previous trading.
At mid-day on Tuesday dealers purchased US$16.4 million at an average rate of J$124.33 and sold $10.84 million at an average of J$124.90. At mid-day on the previous trading day, dealers purchased US$25.27 million at an average rate of J$124.70 and sold $15.95 million at an average of J$125.15.
The Jamaican dollar closed trading, with the selling rate for the Canadian dollar, rising to J$102.46 from J$98.68 at the close on Monday. The selling rate for the British Pound increased to J$178.04 from J$177.56 previously and the euro fall against the Jamaican dollar to J$154.89 to buy the European common currency, versus the prior selling rate of J$154.93.