Trading rises on Junior Market – Wednesday

Junior Market stock trading.

Trading picked up on the Junior Market of the Jamaica Stock Exchange on Wednesday, resulting in an exchange of 3,107,329 units valued at $11,717,595 compared to 1,594,633 units valued at $6,823,033 on Tuesday.
The market index dived 43.58 points to close at 3,077.63 as 26 securities changed hands with prices of 7 stocks rising, 10 declining and 9 remaining unchanged, compared with 23 securities changed hands previously.
Trading ended with an average of 119,513 units for an average of $450,677 in contrast to 69,332 units for an average of $296,654 on Tuesday. The average volume and value for the month to date amounts to units 122,660 valued at $474,863 and previously 124,264 units valued at $487,194. In contrast, March closed with an average of 195,942 shares valued at $777,498 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 2 stocks ended with bids higher than their last selling prices and 3 with lower offers.
At the close of the market, Access Financial traded 14,046 shares at $45.50, AMG Packaging ended 4 cents higher at $2.20, with an exchange of 5,000 stock units, CAC 2000 finished with a loss of 3 cents at $9, with the swapping of 23,674 shares, Caribbean Producers traded 58,978 units, with a loss of 29 cents at $4.70. Consolidated Bakeries closed with a loss of 9 cents at $2, with 52,535 shares changing hands, Derrimon Trading ended with a loss of 5 cents at $2.60, while trading 181,518 shares, Everything Fresh finished 5 cents higher at $1.45, with 46,797 stock units changing hands. Elite Diagnostic settled with a loss of 14 cents at $3.02, with an exchange of 3,730 units, Express Catering ended trading of 51,100 shares at $8, FosRich Group traded with a loss of 40 cents at $4, with 7,484 shares, Fontana finished trading at $4.05, with 66,924 shares. General Accident closed with a loss of 30 cents at $4.20, with 93,750 stock units changing hands, GWest Corporation ended 10 cents higher at $1.50, trading 26,782 units, Honey Bun concluded trading with 300 shares at $4, iCreate closed at $1.01, with an exchange of 102,200 shares. Indies Pharma ended at $3.10, with 23,500 shares changing hands, Iron Rock  settled 1 cent higher at $3.99, with an exchange of 1,400 shares, Jamaican Teas  traded 1,000 units for an increase of 10 cents to close at $4.10. Jetcon Corporation  finished trading 6,210 shares with a rise of 5 cents to $2.85,  Key Insurance  closed with a loss of 15 cents at $3, with 4,000 shares changing hands,
Lasco Distributors
finished 2 cents higher at $3.72, with an exchange of 193,890 units. Lasco Financial  traded 16,000 shares with a loss of 2 cents to end at $4.50, Lasco Manufacturing  ended trading with a loss of 25 cents at $3.40, while exchanging 2,015,333 shares, Main Event  traded 7,248 shares at $5.45, Paramount Trading  closed at $2.50, with 100 units changing hands and  Stationery and Office concluded trading with 103,830 shares at $6.75.

Prices of securities trading for the day are those at which the last trade took place.

Cement drops $8.90 on JSE – Tuesday

Carib Cement dropped sharply from record close on Monday.

Caribbean Cement dropped $8.90 to lead four stocks declining $2.50 or more, on the Jamaica Stock Exchange ended on Tuesday and helped to send the market index into a fall.  
Investors pushed Cement to $67 in early trading but some selling came in to move the price lower to $56, but the stock closed with the bid at $60. Supreme Ventures that closed at a record high of $29.50 fell by $2.50 at the close. JMMB Group lost $3.49 and Kingston Wharves was down $4 at the close.
At the end of trading the Jamaica Stock Exchange main market retreated a bit from its upward climb to the record high of November last year and is now within 8,000 points away.
The JSE All Jamaican Composite Index lost 1,034.03 points to end at 425,445.48 and the JSE Index declined by 939.63 points to 387,608.90.
At the close of the main and US markets, 31 securities traded, compared to 35 on Monday and leading to 11 advancing, 11 declining and 9 closing unchanged.
Trading ended with 1,404,921 units at just $34,225,857 crossing the exchange, compared to 4,774,806 units valued at $58,420,189 changing hands on Monday.
On a day of low volumes, Victoria Mutual Investments led trading with 597,440 shares, and no other stock came close.
Market activity ended with an average of 50,176 units valued at an average of $1,222,352 for each security traded. In contrast to 170,529 units for an average of $2,086,435 on Monday. The average volume and value for the month to date amounts to 110,352 units valued at $1,654,394. Trading for March resulted in an average of 438,501 shares at $9,851,307, for each security traded.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with the reading showing 6 stocks ending with bids higher than their last selling prices and 4 closing with lower offers.
In main market activity, Barita Investments fell 37 cents to $44.40, with an exchange of 1,025 shares, Caribbean Cement dropped $8.90 to close at $56, with 152,518 shares changing hands, Jamaica Broilers rose $1.49 in trading 4,202 units to close at $31.50, Jamaica Producers gained 50 cents to close at $22.50, with 20,445 shares changing hands. JMMB Group dropped $3.49 and concluded trading of 49,159 shares at $30.01, Kingston Wharves sank $4 to settle at $68, trading 5,332 units, Mayberry Investments lost 92 cents trading 17,500 shares to close at $8.28, Salada Foods rose 95 cents in closing at $30, with 200 shares changing hands.  Scotia Group  dropped 49 cents trading 30,677 shares at $51.01, Seprod rose $1.29 to close at $43.44 in trading 2,351 shares, Supreme Ventures  dropped $2.50 to finish at a record high of $27, with an exchange of 111,448 units.
Trading in the US dollar market resulted in 160,444 units valued at over $20,989 changing hands. Margaritaville  closed 25 US cents while trading with 233 shares, Proven Investments gained 1 cents trading 37,769 at 23 US cents and Sygnus Credit Investments exchanged 122,442 shares at 10 US cents. The JSE USD Equities Index gained 2.99 points to close at 179.23.

Trading drops on Junior Market – Tuesday

Main market volume contracts.

The Junior Market lost momentum on Tuesday with an exchange of 1,594,633 units at $6,823,033 compared to 4,742,829 units valued at $18,023,858 on Monday, as 23 securities changed hands, versus 28 previously.
The market index slipped 7.23 points to 3,121.21 as the prices of 9 stocks rose, 7 declined and 7 remained unchanged.
Trading ended with an average of 69,332 units for an average of $296,654 in contrast to 169,387 units for an average of $643,709 on Monday. The average volume and value for the month to date amounts to units 124,264 valued at $487,194. In contrast, March closed with an average of 195,942 shares valued at $777,498 for each security traded.
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 6 with lower offers.
At the close of the market, Access Financial closed at $45.50, with an exchange of 7,807 shares, AMG Packaging ended 1 cent higher at $2.16, with 5,000 stock units changing hands, Blue Power concluded trading of 72,817 units, with a loss of 20 cents in closing at $4.30, Cargo Handlers settled at $11, in trading 1,500 shares. Caribbean Producers finished trading of 41,150 units with a rise of 19 cents to end $4.99, Consolidated Bakeries closed 4 cents higher at $2.09, with an exchange of 2,448 shares, Derrimon Trading ended at $2.65, with an exchange of 16,113 shares, Everything Fresh finished with a loss of 5 cents at $1.40, trading 244,900 stock units. Elite Diagnostic settled with a rise of 16 cents at $3.16, in trading 1,000 units, Express Catering swapped 33,377 shares after rising 20 cents higher at $8, FosRich Group traded 4,777 shares, in rising 65 cents higher to $4.40, Fontana finished trading at $4.05, with 770,452 shares, Honey Bun concluded trading at $4, with 34,550 shares. iCreate rose 1 cent to close at $1.01, with an exchange of 6,590 shares. Iron Rock settled with a loss of 1 cent at $3.98, trading 5,000 shares, Jamaican Teas  traded 12,224 units and rose 10 cents higher to $4,  Jetcon Corporation traded 17,185 shares, at $2.80,  Key Insurance  closed at $3.15, with 1,000 shares changing hands. Lasco Distributors finished with a loss of 19 cents at $3.70, with an exchange of 61,905 units, Lasco Manufacturing ended trading with 16,413 shares and closed 10 cents higher at $3.65,  Main Event  traded with a loss of 6 cents at $5.45, with 650 shares crossing through the exchange. SSL Venture Capital  ended with a loss of 5 cents at $1.65, with an exchange of 2,670 shares and Stationery and Office lost 5 cents to close at $6.75, with 235,105 shares changing hands.

Prices of securities trading for the day are those at which the last trade took place.

Steady trading on TTSE – Tuesday

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Trading on the Trinidad & Tobago Stock Exchange saw more securities being active on Tuesday, but the volume traded was almost the same as on Monday.  
 Trading ended with 14 securities changing hands, against 12 on Monday with investors exchanging 146,470 shares for $3,700,163, compared to 145,498 shares for $2,183,458 on Monday.
At close of the market, 2 stocks advanced, 4 declined and 8 remained unchanged, leading the Composite Index fell 1.22 points on to 1,328.47. The All T&T Index declined 3.14 points to 1,765.25, while the Cross Listed Index gained 0.10 points to close at 120.31.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended at stocks with bids higher than their last selling prices and 2 with lower offers.
At the close of the market, stocks ending trading with gains| First Citizens increased 5 cents and settled at a 52 weeks’ high $36.05, after exchanging 550 shares and Massy Holdings rose 35 cents and ended at $53.40, after exchanging 430 shares.
Stocks closing losses| Ansa Merchant Bank fell $1 to settle at a 52 weeks’ low of $37, after exchanging 190 shares, One Caribbean Media concluded trading with a loss of 20 cents at $10.10, after exchanging 2,025 shares. Republic Financial Holdings lost 42 cents to settle at $119.50, after exchanging 263 shares and Scotiabank fell 59 cents and ended at $63, with 2,685 stock units changing hands.
Stocks closing firm| Ansa Mcal completed trading of 20,135 units, at $55.24, First Caribbean International Bank closed at $8.25, in exchanging 1,516 units, Grace Kennedy ended at $3.30, with 20,000 stock units changing hands, Guardian Holdings completed trading of 33,837 units, at $18.25. JMMB Group ended at $1.78, after exchanging 5,555 shares, National Flour completed trading of 6,710 units at $1.65, CinemaOne traded just 50 shares at $9.95 and Trinidad & Tobago NGL exchanged 52,574 units at $30.50.

Prices of securities trading for the day are those at which the last trade took place.

Jamaican economy grew 2% in 2018

Mining was the biggest contributer to GDP gains in 2019

Preliminary estimates by the Statistical Institute of Jamaica (Statin) puts growth in the Jamaican economy for the 2018 at 1.9 percent, the highest in 11 years bettering 1.7 percent achieved in 2011 and almost twice the one percent rise in 2017.
The increase is “due to a 5 percent growth in the Goods Producing Industries and a 0.8 percent increase in Services Industries,” Statin stated.
The fourth quarter last year, grew 2 percent compared to the fourth quarter of 2017. This growth is due to increases in both the Services Industries and the Goods Producing Industries of 1 percent and 4.9 percent respectively.
For the full year, growth occurred in all the Goods Producing Industries: Agriculture, Forestry & Fishing up 3.1 percent, Mining & Quarrying up a strong 25 percent mainly due to the reopening of Jiuquan Iron and Steel Company, Alpart refinery, manufacturing a moderate 2 percent and Construction up 3.7 percent.
For the first quarter of 2019, GDP is expected to accelerate at a faster pace than for 2018 and will be strongly, impacted by a surge in tourism stopover arrivals that is up in double digits for the first quarter.

Cement jumps $6.90 to record high

Caribbean Cement ended trading at a new closing high of $64.90 on Monday.

Caribbean Cement jumped sharply by $6.90 to a new high of $64.90 on Monday while Supreme Ventures hit an all-time high of $29.50 to help kick off the second quarter for the main market positively.
Investors sucked out the limited volume of supply of Cement on offer but had just one offer of just 1,500 units at $105. Supreme Ventures has been in short supply recently and have decent demand, ended with just 18,425 shares on offer at $29.50.
At the end of trading the Jamaica Stock Exchange main market inched closer to the record high of November last year and is now within less than 7,000 points away.
The JSE All Jamaican Composite Index gained 298.91 points to end at 426,479.51 and the JSE Index advanced 271.62 points to 388,548.53.
At the close of the main and US markets, 31 securities traded, compared to 35 on Friday and leading to 11 advancing, 11 declining and 9 closing unchanged.
Trading ended with 4,774,806 units valued at $58,420,189 crossing the exchange, compared to 5,517,346 units valued at over $192,929,461, changing hands on Friday.
Pulse Investments led trading with 3.3 million shares, accounting for 69 percent of the day’s volume in the main market, followed by Grace Kennedy with 288,330 units or 6 percent of the volume traded and Wisynco Group with 242,543 shares amounting to 5 percent of the overall volume.
Market activity ended with an average of 170,529 units valued at over $2,086,435, in contrast to 183,912 shares valued at $6,430,982 on Friday. Trading for March resulted in an average of 438,501 shares at $9,851,307, for each security traded.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with the reading showing 11 stocks ending with bids higher than their last selling prices and 2 closing with lower offers.
In main market activity, Barita Investments rose 85 cents to $44.77, with an exchange of 1,530 shares, Caribbean Cement jumped $6.90 to a record close of $64.90, with 47,525 shares changing hands, Jamaica Broilers shed $2.49 in trading 14,217 units to close at $30.01, Jamaica Producers lost $1 to close at $22, with 60,000 shares changing hands. JMMB Group concluded trading of 10,567 shares after rising 50 cents to end at $33.50, Mayberry Investments rose 70 cents trading 7,100 shares to close at $9.20,  Sagicor Group  declined 48 cents to settle at $38.02, with 34,475 shares changing hands.  Scotia Group dropped $1.30 trading 65,407 shares at $51.50, Seprod rose 44 cents to close at $43.44 in trading 2,351 shares, Sterling Investments  rose 49 cents and concluded trading at $3.99, with 51,216 stock units. Supreme Ventures  rose $2.01 to finish at a record high of $29.50, with an exchange of 111,448 units, Sygnus Credit Investments lost 30 cents in trading 21,821 units, to end at $12 and Wisynco Group lost 45 cents and ended trading of 242,543 shares to close at $11.50.
Trading in the US dollar market resulted in 20,196 units valued at over $14,334 changing hands. JMMB Group 6% US dollar preference share trading  8,000 units and gained 3 cents to close at US$1.04, JMMB Group

5.75% USD preference share ended at $2 with 2,500 units changing hands and Sygnus Credit Investments had 9,696 units trading at 10 US cents. The JSE USD Equities Index gained 0.45 points to close at 176.24.

Junior Market strong buy signals

Fosrich traded 4 million shares on Monday.

The Junior Market opened the second quarter positively in keeping with technical indicators suggesting that a major change in direction is coming soon with the market getting support from a triple bottom and wedge shape formation.
The market index jumped 36.42 points to 3,128.44 as the prices of 8 stocks rose, 10 declined and 10 remained unchanged.  At the close of trading, 28 securities changed hands, versus 29 on Friday.
Market activities on Monday saw a 40 percent increase in the day’s volume to 4,742,829 units valued 18 percent higher at $18,023,858, compared to 3,378,621 units for $15,299,931 on Friday. The increase in trading was due to 4 million units of FosRich Group shares.
Trading ended with an average of 169,387 units at $643,709 for each security traded, in contrast to 116,504 units at $527,584 on Friday. In contrast, March closed with an average of 195,942 shares valued at $777,498 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 3 stocks ended with bids higher than their last selling prices and 7 with lower offers.
At the close of the market, Access Financial lost 50 cents to end at $45.50, exchanging 5,937 shares, AMG Packaging ended at $2.15, with 31,850 stock units changing hands, Blue Power traded 85,320 units with a loss of 10 cents at $4.50, Cargo Handlers fell 6 cents to close at $11, with an exchange of 22,000 shares. Caribbean Cream ended trading with 10,100 shares after falling 1 cent to close at $5.54, Caribbean Producers rose 3 cents to $4.80, trading 51,100 units, Consolidated Bakeries closed 6 cents higher at $2.05, with 50,000 shares changing hands, Derrimon Trading closed at $2.65, with an exchange of 5,800 shares, Dolphin Cove concluded trading with 1,369 shares at $13.99. Everything Fresh finished with a loss of 6 cents at $1.45, with 109,500 stock units changing hands, Elite Diagnostic settled at $3, with 5,400 units crossing through the exchange, Express Catering ended trading of 900 shares 20 cents higher at $7.80, FosRich Group traded 4,014,634 shares with a loss of 25 cents at $3.75. Fontana finished trading of 110,105 shares, at $4.05, General Accident closed at $4.50, with 100 stock units changing hands, Honey Bun ended trading of 9,197 shares, with a loss of 24 cents at $4, iCreate shed 1 cent to close at $1, with an exchange of 29,530 shares. Indies Pharma finished 1 cent higher at $3.10, with an exchange of 16,923 shares, Jamaican Teas  traded 12,654 units to close at $3.90,  Jetcon Corporation  finished trading with 1,950 shares at $2.80, Lasco Distributors  finished 4 cents higher at $3.89, with 51,810 units changing hands, Lasco Financial  settled 2 cents higher at $4.52, in exchanging 100 shares. Lasco Manufacturing  ended trading of 7,000 shares with a loss of 5 cents at $3.55,  Main Event  traded 55,300 shares at $5.51,  Paramount Trading  closed 20 cents higher at $2.50, with 1,000 units changing hands. Stationery and Office concluded trading with 8,250 shares at $6.80 and tTech settled with a loss of 50 cents at $5.50, with an exchange of 15,000 stock units. In the junior market preference segment, Derrimon Trading 9% ended 3 cents higher at $1.98, with 30,000 stock units changing hands.

Prices of securities trading for the day are those at which the last trade took place.

4 TTSE stocks at 12 months high – Monday

Grace Kennedy shares traded at a 52 weeks’ high on Monday.

Three securities closed at 52 weeks’ high in trading on the Trinidad & Tobago Stock Exchange on Monday, similar to the number on Friday.  
 Volume traded was less than on Friday with substantially less monetary consideration as 12 securities changed hands, against 17 on Friday with investors exchanging 145,498 shares for $2,183,458, compared to 167,873 shares at $4,736,375 on Friday.
At close of the market, 6 stocks advanced, 3 declined and 3 remained unchanged, leading the Composite Index to rise 1.93 points to 1,329.69. The All T&T Index gained 4.80 points to end at 1,768.39, while the Cross Listed Index shed 0.14 points to close at 120.21.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended at stocks with bids higher than their last selling prices and 3 with lower offers.
At the close of the market, stocks ending trading with gains| Clico Investments gained 35 cents and closed at a 52 weeks’ high of $22.50, with 2,800 stock units changing hands, Grace Kennedy finished 5 cents higher at a 52 weeks’ high of $3.30, exchanging 43,215 stock units. Guardian Holdings rose 25 cents and completed trading with 260 units at $18.25, Prestige Holdings added 2 cents and completed trading of 1,453 units, at $7.62. Republic Financial Holdings increased 92 cents and settled at $119.92, in exchanging 8,610 shares and Trinidad & Tobago NGL rose 23 cents and completed trading of 2,282 units at a 52 weeks’ high of $30.50.
Stocks closing losses| JMMB Group fell 2 cents to end at $1.78, after exchanging 15,750 shares, Massy Holdings closed with a loss of 35 cents to close at $53.05, trading 10,706 shares and Sagicor Financial shed 15 cents in closing at $8.65, with an exchange of 1,100 shares.
Stocks closing firm| First Citizens settled at $36, after exchanging 145 shares, One Caribbean Media concluded trading at $10.30, after exchanging 12,500 shares and Trinidad Cement settled at $2.55, after trading 46,677 shares.

Prices of securities trading for the day are those at which the last trade took place.

Wigton Windfarm IPO out very soon

Report reaching IC Insider.com is that the long awaited prospectus for Wigton Windfarm is due this week. The stock is set to come to the market at 50 cents each.
According to the government’s public bodies accounting records, “the divestment will be by way of listing PCJ’s 100 percent shareholding in WWFL on the Jamaica Stock Exchange.” The company is expected to report profit of $587 million to the end of March this year, down from $826 million earned in 2018. The 2018 earnings were helped by other income of $637 million versus just $52 million in 2018.
The company generated sales revenue of $2.5 billion in 2019 and $2.36 billion in 2018. Depreciation charge is high at nearly $700 million, this will result in a healthy cash flow per annum, allowing to either pay down debt or fund expansion from internally generated resourses and provide a basis of growing profits going forward.
The annual growth in profit before finance cost is minimal, growing just over 11 percent in 2015 and 2016 and a much slower 7 percent in 2017 and 2018, with a 6 percent decline in 2019.
The company is heavily indebted with $7 billion of borrowed funds, $1.4 billion in cash funds on hand and equity of $2.4 billion. Current assets exclusive of cash and payables are minimal. Borrowed funds were mostly in US dollars and resulted in annual swings in net profit, as the exchange rate of the Jamaican dollar moved up and down against the United States dollar. Loans that were previously denominated in US dollars, were swapped for Jamaican dollar funds, in preparation for the initial public offer.
The company’s generating capacity is 63 mega-watts with the output contracted to Jamiaca Public Seervice Company. Assuming a PE ratio of 10, the company would be valued at just under $6 billion.

Major changes in IC TOP 10 stocks

The major change in IC Insider.com’s TOP 10 this pass week, is a sharp change in the stocks showing highest potential gains.
The three leading Junior Market stocks Last week, were Iron Rock with potential gains of 300 percent, Caribbean Producers 281 percent up from last week, as the stock slipped to $4.20 and Lasco Financial with potential gains of 211 percent. At the end of last week, the highest gains forecasted is down to 235 percent, with Caribbean Producers holding the top Junior Market spot.
Main Market stocks have gone in the opposite direction with a fall in the price of Sterling Investments to $3.50, the stock now boost potential to gains 186 percent, followed by  Victoria Mutual investments with 156 percent likely gain and Radio Jamaica at 152 percent, being third.
The only change to the TOP 10 list is the exit of Lasco Manufacturing that rose to $3.60 on Friday, to be replaced by Caribbean Cream, that closed the week at $5.55.
The main market, closed the week with the overall PE at 13.6 and the Junior Market at just 10.4. The PE ratio for Junior Market Top 10 stocks average 6.9 and the main market PE is now 8.4. These levels, point to the huge upside for the TOP 10 stocks over the next 12 months.
The TOP 10 stocks now trade at an average discount of 34 percent to the average for the Junior Market Top stocks and main market stocks trade at a discount of 38 percent to the overall market.
TOP 10 stocks are likely to deliver the best returns within a 12 months period. Projected earnings, for each company’s current fiscal year, are used in determining, the selected stocks. The PE for and projected earnings for each stock are computed to show potential gains for the year, which are ranked in descending order. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.

This report is compiled by persons who may have interest in the securities commented on.

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