Junior Market climbs – Wednesday

Junior market trading ended with the Index gaining 27.35 points to close at 3,101.31 on Wednesday with the prices of 13 securities advancing, 9 declining and 5 remaining unchanged.
Trading ended with 27 securities changing hands, compared to 26 previously, resulting in an exchange of 2,637,177 units valued at $9,847,525, compared to 3,139,829 units valued at $14,134,481 on Tuesday.
Trading ended with an average of 97,673 units for an average of $364,723 in contrast to 120,763 units for an average of $543,634 on Tuesday. The average volume and value for the month to date amounts to units 270,714 valued at $702,301 and previously 276,019 valued at $729,188. In contrast, January closed with average of 2,245,428 units with a value of $7,372,574 for each security traded.
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 lower offers.
At the close of the market, AMG Packaging ended at $2.50, with an exchange of 2,420 stock units, Blue Power traded 6,315 units and rose 15 cents to close at $5, CAC 2000 finished with a loss of 48 cents at $12.12, with 500 shares changing hands. Cargo Handlers settled with a loss of 50 cents at $14, in exchanging 500 shares, Caribbean Flavours traded 500 stock units with a gain of $1.42 to close at $18, Caribbean Producers finished trading 19,809 units at $4.70, Derrimon Trading ended at $2.70, with an exchange of 155,256 shares. Dolphin Cove concluded trading of 700 shares at $15, with a loss of 50 cents. Everything Fresh finished with a loss of 19 cents at $1.60, trading 57,525 stock units, Elite Diagnostic settled at $3, with an exchange of 4,100 units, Express Catering ended trading of 62,902 shares, at $7.06. FosRich Group traded 204,252 shares, with a loss of 7 cents to close at $3.98, Fontana finished trading with a loss of 4 cents at $3.95, with 816,855 shares changing hands. General Accident closed 1 cent higher at $4, while exchanging 82,475 stock units, GWest Corporation ended 14 cents higher at $1.69, with 15,182 units trading, Honey Bun concluded trading of 201,036 shares and rose 14 cents higher to $3.99,  Indies Pharma finished 10 cents higher at $2.80, in exchanging 61,592 shares. ISP Finance  ended trading with 5,000 stock units and climbed $2 to $13,  Jamaican Teas  traded 81,678 units for 28 cents more at $4, Jetcon Corporation finished trading 446,571 shares, adding 15 cents to end at $3.15,  Knutsford Express  lost $1.60 cents to close at $10.90, with 4,100 stock units changing hands. Lasco Distributors  finished with a loss of 29 cents at $3.70, with 210,378 units trading, Lasco Financial  settled 24 cents higher at $4.80, with 82,082 shares crossing through the exchange, Lasco Manufacturing  ended trading with 101,576 shares, and rose 4 cents to end at $3.20,  Medical Disposables finished trading 1,381 stock units and gained 25 cents to end at $5.75. SSL Venture Capital ended with a loss of 5 cents at $1.90, trading 9,803 shares and Stationery and Office concluded trading 30 cents higher at $8.50, with 2,689 shares changing hands.

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

BOJ cuts interest rate & cash reserves

Bank of Jamaica announces its decision to lower the policy interest rate (the rate offered on overnight placements with Bank of Jamaica) by 25 basis points to 1.50 percent.
The central bank also announced a cut in cash reserve requirement of commercial banks by 3 percentage points to nine percent effective the begining of March.This reduction will increase liquidity in the financial system by $16.8 billion and thereby support
the expansion of credit to businesses and households at lower rates and at better terms, the central bank stated.
The liquid asset requirement is also being reduced by the same amount.

Seprod jumps $7 to $46 – Tuesday

Seprod jumped $7.01 to close at $46.

Seprod an IC Insider.com Stock to Watch, for the week, jumped a sharp $7.01 to close at $46 after hitting $47 during the trading session, in trading 69,936 shares, in response to the company reporting a big jump in profit for 2018.
Profit after tax moved from $735 million in 2017 to $1.276 billion from an increase in revenues of 48 percent to $24.4 billion with profit rising over 2,000 percent to $304 million in the December quarter, from a doubling in revenues.
Trading on the main market of the Jamaica Stock Exchange ended as JSE All Jamaican Composite Index increased by 3,739.64 points to 421,424.01 and the JSE Index advanced 3,398.24 points to 383,952.65.
At the close market activity, the main and US markets traded 38 securities, compared to 34 securities trading on Monday, with 15 advanced, 13 declined and 10 traded with prices unchanged.
Main market activity ended with, 15,805,801 units valued at $87,341,139 compared to 4,631,898 units valued $132,673,939 changing hands, on Monday.
An average of 451,594 units valued at an average of $2,495,461 for each security traded. In contrast to 149,416 units for an average of $4,279,804 on Monday. The average volume and value for the month to date, amounts to 325,058 shares with a value of $13,668,348 and previously, 313,874 shares with a value of $14,739,721. Trading for January resulted in an average of 101,980 units, valued at $3,042,494, for each security traded.
JMMB Group 7.25% preference share led trading with 11,919,446 shares for 75.4 percent of the day’s volume, Pulse Investments was next with 901,239 shares, accounting for 5.7 percent of the total main market volume changing hands and Ciboney ended with 607,166 shares, for 3.8 percent of the day’s volume.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with the reading showing 4 stocks ending with bids higher than their last selling prices and 3 stocks closed with lower offers.
In main market activity, Barita Investments declined by $1.49 trading 99,034 shares, to close at $48.01, Berger Paints fell 50 cents to end at $19.50, with an exchange of 4,506 stock units, Caribbean Cement exchanged 24,981 shares but fell 49 cents, to end at $43.01, Grace Kennedy traded 20,001 stock units with a fall of $1.99 to end at $59. Jamaica Stock Exchange rose 35 cents to close at $17.50, with 134,109 shares trading. JMMB Group lost 25 cents trading of 82,352 shares at $31.75, Kingston Wharves jumped $1.90 to close at $77, with 1,112 units changing hands, Pulse Investments lost 25 cents to close at $2.90, with an exchange of 901,239 shares. Radio Jamaica rose 24 cents and settled at $1.24, with 366,704 shares, Sagicor Group climbed $1.50 and ended trading of 48,877 stock units at $40, Salada Foods jumped 57 cents trading 8,199 shares at $35, Stanley Motta rose 80 cents to end at $5, with an exchange of 5,850 shares. Sygnus Credit Investments gained 70 cents to end at $13 with an exchange of 24,206 shares and another Stock to Watch, Wisynco Group  gained 80 cents and ended trading of 194,598 shares at $11.80.
Trading in the US dollar market resulted in 83,275 units valued at US$14,233 units changing hands.  Proven Investments gained 1 cent in trading 54,975 units, with the price closing at 22 US cents, Sterling Investments traded 10,000 units at 0.0385 US cents and Sygnus Credit Investments ended with 18,300 units trading unchanged at 9 US cents. The JSE USD Equities Index advanced by 3.01 points to close at 174.10.

Big pull back for Junior Market – Tuesday

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The Junior Market of the Jamaica Stock Exchange dropped 35.86 points to close at 3,073.96 on Tuesday, the market climbed back from a much deeper decline in the earlier part of trading when it was down more than 70 points.
Trading ended with 26 securities changing hands compared to 28 securities on Monday and resulted in the prices of just 6 securities rising and 14 declining and 6 holding firm, on a day when 3 securities traded at 52 weeks’ lows. The day ended with an exchange of 3,139,829 units valued at $14,134,481 compared to 2,108,297 units valued at $6,747,118 on Monday.
Trading ended with an average of 120,763 units for an average of $543,634 in contrast to 75,296 units for an average of $240,969 on Monday. The average volume and value for the month to date amounts to units 276,019 valued at $729,188 and previously 288,915 valued at $744,601. In contrast, January closed with average of 2,245,428 units with a value of $7,372,574 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 6 stocks ended with bids higher than their last selling prices and 5 with lower offers.
At the close of the market, Access Financial closed trading of 4,700 shares and rose 90 cents to end at $49, AMG Packaging ended at $2.50, with 282,792 stock units changing hands, Blue Power concluded trading of 23,300 units, with a loss of 15 cents at $4.85. Cargo Handlers settled 50 cents higher at $14.50, with an exchange of 3,200 shares, Caribbean Cream ended trading of 263,111 shares at $5.32, after hitting a low for the day of $5.10, Caribbean Flavours dropped $2.92 to end at $16.58, with 23,000 stock units trading. Caribbean Producers concluded trading of 65,600 units at $4.70, Derrimon Trading ended at $2.70, with 205,000 shares changing hands, Dolphin Cove concluded trading of 1,282 shares and climbed $3.50 to close at $15.50, after hitting a 52 weeks low of $10.20, earlier in the day. Everything Fresh finished with a loss of 6 cents at $1.79, with an exchange of 101,900 stock units, Elite Diagnostic settled with a loss of 10 cents at $3, while trading 33,955 units, Express Catering ended trading with 526,905 shares, after falling 44 cents to end at $7.06.  FosRich Group traded 37,512 shares with a loss of 12 cents at $4.05, Fontana traded 844,663 shares to end at $3.99,  General Accident  closed with a loss of 2 cents at $3.99, with an exchange of 257,155 stock units, Honey Bun concluded trading of 31,400 shares, with a loss of 15 cents at $3.85. Indies Pharma finished with a loss of 27 cents at $2.70, in exchanging 175,005 shares, Jamaican Teas traded 5,208 units, with a loss of 28 cents to close at $3.72,  Jetcon Corporation  ended trading of 4,457 shares, with a loss of 7 cents at $3.  Knutsford Express  closed trading of 33,454 stock units with a loss of 20 cents, to end at $12.50, Lasco Distributors  finished 29 cents higher at $3.99, with 5,978 units trading, Lasco Financial  settled 6 cents higher at $4.56, with 5,033 shares changing hands. Lasco Manufacturing  ended trading of 185,000 shares, at $3.16, Main Event traded a mere 111 shares, with a loss of 1 cent to close at $5.80, SSL Venture Capital ended 25 cents higher at $1.95, with an exchange of 5,108 shares and Stationery and Office concluded trading of 15,000 shares with a loss of 30 cents to end at $8.20.

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

TTSE moving on up – Tuesday

Market activity on the Trinidad & Tobago Stock Exchange ended on Tuesday with trading in 18 securities against 18 on Monday, with 6 advancing, 4 declining and 8 remaining unchanged and ending in 3 closing at 52 weeks’ highs.
At close of the market, the Composite Index gained 0.89 points to 1,312.74. The All T&T Index added 1.83 points to 1,715.68, while the Cross Listed Index declined 0.01 points to close at 122.91.
Trading ended with 253,953 shares at a value of $2,107,552, compared to 201,241 shares on Monday valued at $1,484,911.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended at stocks with bids lower than their last selling prices and 3 with lower offers.
Stocks closing with gains| First Citizens finished 9 cents higher and settled at $34.32, after exchanging 380 shares, LJ Williams B share gained 3 cents and settled at a 52 weeks’ high of 78 cents, after exchanging 10,638 shares, Massy Holdings added 50 cents to close at a 52 weeks’ high of $48.50, after exchanging 1,100 shares. Republic Financial Holdings increased 35 cents and settled at $108.50, after exchanging 314 shares, Trinidad & Tobago NGL rose 8 cents and completed trading of 5,112 units, at $30.16 and West Indian Tobacco closed with a gain of 25 cents and ended at a 52 weeks’ high of $96, with 3,123 stock units changing hands.
Stocks closing with losses| Clico Investments closed with a loss of 1 cent at $20.19, with 14,631 stock units changing hands, One Caribbean Media fell 5 cents to end at $10.35, after exchanging 27,582 shares, Sagicor Financial shed 2 cents to close at $9.98, after exchanging 10,800 shares and Scotiabank lost 15 cents and ended at $63.50, with 4,301 stock units changing hands.
Stocks closing firm | Ansa Mcal completed trading of 30 units at $55.24, First Caribbean International Bank exchanged 911 units, at $8.50, Grace Kennedy ended at $3.10, with 12,989 stock units changing hands, JMMB Group closed trading at $1.75, after exchanging 50,000 shares. National Flour completed trading with 60,500 units at $1.65, NCB Financial Group settled at $8.40, after exchanging 29,405 shares, Prestige Holdings completed trading with 8,809 units at $7.35 and Trinidad Cement settled at $2.50, after exchanging 13,328 shares.

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

JSE majors eke out more gain – Monday

Trading on the main market of the Jamaica Stock Exchange ended on Monday with JSE All Jamaican Composite Index increasing 271.71 points to 417,684.37 and the JSE Index advancing by 247.29 points to 380,554.41.
At the close market activity, the main and US markets traded 34 securities, compared to 39 securities trading on Friday, with 11 advanced, 11 declined and 12 traded firm.
Main market activity ended with, 4,631,898 units valued $132,673,939 changing hands, compared to 3,327,691 units valued at over $215,403,267 on Friday.
JMMB Group 7.50% preference share led trading with 1.5 million shares for 32 percent of the day’s volume, Grace Kennedy was next with 800,533 shares, accounting for 17 percent of the total main market volume changing hands and PANJAM Investment ended with 513,612 shares, for 11 percent of the day’s volume.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with the reading showing 9 stocks ending with bids higher than their last selling prices. There was no stock closing with a lower offer.
An average of 149,416 units valued $4,279,804, in contrast to 97,873 units valued at $6,335,390 on Friday. The average volume and value for the month to date, amounts to 313,874 shares with a value of $14,739,721 and previously, 327,842 shares with a value of $15,710,552. Trading for January resulted in an average of 101,980 units, valued at $3,042,494, for each security traded.
In main market activity, Caribbean Cement exchanged just 250 shares but rose 50 cents, to end at $43.50, Grace Kennedy traded 800,533 stock units with a gain of $2.49 to end at $60.99, Jamaica Producers rose 50 to close at $23, with 12,986 shares trading, Jamaica Stock Exchange fell 35 cents to close at $17.15, with 326,652 shares trading. JMMB Group rose 30 cents trading of 20,416 shares at $32, Kingston Wharves lost 90 cents to close at $75.10, with 5,100 units changing hands, Mayberry Investments added $1 and ended trading of 22,800 shares, at $9.05, Pulse Investments rose 35 cents to finish at $3.15, with an exchange of 7,396 shares. Salada Foods jumped $1.43 trading 750 shares at $34.43, Stanley Motta shed 47 cents to end at $4.20, with an exchange of 10,000 shares and Sygnus Credit Investments gained 80 cents to end at $12.30 with an exchange of 13,844 shares.
Trading in the US dollar market resulted in 45,740 units valued at $5,803 changing hands.  JMMB Group 6% preference share concluded trading of 1,300 units at $1.04, Margaritaville  traded 1,000 shares at 24 US cents, Proven Investments fell 0.99 cent in trading 10,440 units, with the price closing at 21 US cents and Sygnus Credit Investments ended with 34,300 units trading at 9 US cents after falling 2 cents. The JSE USD Equities Index lost 4.29 points to close at 171.09.

Junior Market pushes higher – Monday

Dolphin Cove closed at a 52 weeks; low on monday.

In an active trading session on the Junior Market of the Jamaica Stock Exchange pushed 12.62 points higher to close at 3,109.82 on Monday, with the prices of 11 securities rising and 7 falling.
Trading ended with 28 securities changing hands compared to 27 securities on Friday, at the close Dolphin Cove ended at a 52 weeks’ low while 10 stocks traded with no change to the closing price.
Market activities closed with an exchange of 2,108,297 units valued at $6,747,118 compared to 4,398,457 units valued at $19,730,388 on Friday.
Trading ended with an average of 75,296 units for an average of $240,969, in contrast to 162,906 units for an average of $730,755 on Friday. The average volume and value for the month to date amounts to units 288,915 valued at $744,601 and previously 309,902 valued at $794,081. In contrast, January closed with average of 2,245,428 units with a value of $7,372,574 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 8 stocks ended with bids higher than their last selling prices and 5 with lower offers.
At the close of the market, AMG Packaging ended trading of 214,203 stock units to close at $2.50, Blue Power concluded trading of 25,696 units at $5, Caribbean Cream ended with a loss of 5 cents at $5.32, in exchange of 3,600 shares, Caribbean Producers closed at $4.70, with 27,535 units changing hands. Consolidated Bakeries lost 20 cents to end at $1.80, trading 38,000 shares, Derrimon Trading ended 25 cents higher at $2.70, with 1,000 shares changing hands, Dolphin Cove concluded trading of 830 shares, with a loss of 2 cents to end at a 52 weeks’ low of $12, Everthing Fresh finished 5 cents higher at $1.85, exchanging 209,862 stock units. Elite Diagnostic settled at $3.10, with 21,750 units trading. Express Catering ended trading of 8,860 shares, at $7.50, FosRich Group ended at $4.17, with 2,394 shares changing hands, Fontana traded 659,124 shares and moved 4 cents higher to $3.99, General Accident rose 1 cent higher to $4.01, with an exchange of 15,000 stock units. GWest Corporation ended 10 cents higher at $1.55, trading 345,727 units, Honey Bun concluded trading of 503 shares and rose 30 cents to $4, Indies Pharma finished 17 cents higher at $2.97, trading 32,758 shares, Jamaican Teas traded 126,358 units at $4. Jetcon Corporation finished trading of 9,700 shares at $3.07, Knutsford Express concluded trading with a loss of 30 cents at $12.70, with 370 stock units changing hands, Lasco Distributors  lost 29 cents at $3.70, with 18,809 units passing through the market, Lasco Financial  settled 15 cents higher at $4.50, as investors swapped 152,349 shares. Lasco Manufacturing  ended trading of 24,058 shares, with a loss of 3 cents at $3.16,  Main Event  traded 3,600 shares and climbed 31 cents higher to $5.81, Paramount Trading  closed at $2.40, while exchanging 52,155 units, SSL Venture Capital ended with a loss of 25 cents in closing at $1.70, trading 54,880 shares. Stationery and Office  concluded trading of 28,176 and rose 10 cents to close at $8.50 and tTech settled 91 cents higher at $6.75, with 30,000 stock units changing hands but the stock was on offer at $6.20 at the close. In the junior market preference segment, CAC 2000 preference share closed at $1, with 1,000 shares trading.

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

TTSE stock gaining strength – Monday

Market activity on the Trinidad & Tobago Stock Exchange ended on Monday with trading in 18 securities against 16 on Friday, with 9 advancing, 0 declining and 9 remaining unchanged as market momentum continues to build.
At close of the market, the Composite Index gained 2.26 points to 1,311.85. The All T&T Index added 3.21 points to 1,713.85, while the Cross Listed Index rose 0.18 points to close at 122.92.
Trading ended with 201,525 shares at a value of $1,484,911, compared to 1,040,596 shares on Friday valued at $21,396,035.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended at stocks with bids than their last selling prices and 2 with lower offers.
Stocks closing with gains | Ansa Mcal finished trading 25 shares after gaining 4 cents to close at $55.24, Ansa Merchant Bank rose 50 cents and settled at $38.50, after exchanging 500 shares, Calypso Macro Index Fund rose 48 cents and completed trading of 284 stock units at $14. First Citizens rose just 1 cent to settle at $34.23, after exchanging 2,169 shares, JMMB Group finished 4 cents higher at $1.75, exchanging 1,241 shares LJ Williams B share concluded trading of 118,000 shares and gained 5 cents to end at 75 cents. Republic Financial Holdings added 15 cents and settled at $108.15, in exchanging 150 shares and Sagicor Financial gained 1 cent and concluded trading of 25,398 shares at $10, Trinidad & Tobago NGL rose 38 cents and completed trading of 4,419 at $30.08.
Stocks closing firm | Clico Investments ended at $20.20, with 22,307 stock units changing hands, First Caribbean International Bank completed trading at $8.50, with 714 units, Grace Kennedy ended at $3.10, with 616 stock units changing hands, Massy Holdings ended at $48, after exchanging 1,300 shares. National Flour completed trading at $1.65, with 1,350 units, NCB Financial Group settled at $8.40, after exchanging 20,000 shares, Prestige Holdings completed trading at $7.35, with 100 units, Scotiabank ended at $63.65, with 2,552 stock units changing hands and West Indian Tobacco ended at $95.75, with 400 stock units changing hands.

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

Fontana & Wisynco jump IC Top 10

Fontana Waterloo Road branch now new completion.

There were some major price movements for the TOP 10 stocks. By the end of the week, Fontana moved up in price to $3.95 and moved out of the list.
ISP Finance closed with the bid at $13, forecasted earnings was adjusted down to $1.65 for 2019, with the stock existed the TOP 10. Caribbean Cream and Jamaican Teas replaced the above two companies.
TOP 10 main market selection last week, Wisynco closed the week at $11 and that was enough to move it off the list with Carreras moving back on to the list. Radio Jamaica made a big surge from 80 cents to end the week at $1.20 but with the offer at $1.18 after the company posted strong gains in profit in the December quarter of $168 million versus $79 million in the similar period in 2017. Seprod also enjoyed a big move from $34.85 to $39, both remain in the TOP 10.
Stocks falling out of the TOP 10 should not be ignored, they have much more gains ahead of them, in 2019. Both Fontana and Wisynco earnings are based on June 2019 year-end. Results for the 2020 year will start coming out before the end of this year and could result in increased interest in the stocks.
Medical Disposables fell in price during the week and rose in the TOP 10 to number 2 while Sygnus Credit Investments garnered increased buying interest with the price moving up with the stock just holding on to the number 10 spot on the main market list.
The three leading Junior Market stocks are General Accident, with potential gains of 300 percent, Medical Disposables with 264 percent projected gains and Stationery and Office Supplies 245 percent.
The three leading main market stocks are, Victoria Mutual investments 150 percent likely gains, Caribbean Cement with likely gains of 150 percent and Sterling Investments with 135 percent.
The main market closed the week with the overall PE at 13 and the Junior Market at 10. The PE ratio for Junior Market Top 10 stocks average 6.2 and the main market PE is now 8.4.
The TOP 10 stocks now trade at an average discount of 38 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. The main market stocks trade at a discount of 35 percent to the overall market.
TOP 10 stocks are likely to deliver the best returns within a 12 months period. Stocks are selected based on projected earnings for each company’s current fiscal year. Based on an assumed PE for each, the likely gains are determined and then ranked, with the stocks with the highest potential gains ranked first followed by the rest, 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 based on new information received that can result in changes in and out of the list as well.

 

Fontana & Wisynco watch alerts

A close look at the main market shows clear bullish signs, with the market breaking out from a wedge formation and is being steered upwards by a long term upward sloping support line, that goes back to early 2016.
Unlike the rally in December that was dominated by NCB Financial, this rally is more broad based. Over the past two weeks, several company released results and seem to be stirring investors’ interest in a number of the companies.
Fontana and Wisynco were highlighted last week, as compelling stocks to watch. Demand for the two stocks drove prices higher on strong demand and increasing traded volumes, during the past week.
These two stocks remain on the watch list and IC Insider.com expects to see continued demand for them. Importantly, the supply of Wisynco’s shares is drastically reduced, since the release of the December quarterly.  There are further reports that apart from a likely big new distribution contract that being discussed the company will be distributing sugar for a factory in the western end of the island.

Radio Jamaica

Buy Rated Radio Jamaica was struggling below the 90 cents mark for a very long time, came to life during the week with the company reporting strong gains in profit in the December quarter of $168 million versus $79 million in the similar period in 2017. The stock traded several million units below 95 cents but hit $1.20 on Friday as supply below dried up. The stock may find it difficult the move higher during the coming week but is worth watching to see where it trades during the week.
A block of nearly 61 million AMG Packaging shares traded during the week and stopped the price from moving higher. Buying interest remains as many investors see prospects of continued profit and stock price.
Elite Diagnostic closed the past week at $3.10 as results released showed a big improvement over the first quarter to September of $5 million versus $1.6 million on a pretax basis. The reported profit was not good enough to excite investors looking for immediate stock price gains.  The price may well remain anchored around current levels for a while. The quarter over quarter growth in revenues points to higher revenues in the March quarter. There now appears to be a gap developing between the bids at $3.10 and sellers at $3.40. Watch to see how this develops. PanJam Investment traded as high as $82 on Friday with limited supply of the stock offered for sale. This one seems poised to move higher as just limited supply of the stocks is on offer for sale.
Demand for Fontana shares ate away at supply of the stock during the week but seems to have the $4 mark to take out before moving higher.

Section of Fontana Waterloo road branch now under construction.

The stock is still undervalued, even as it has doubled the IPO price. Investors ought to be focusing on the expansion plans and what that will do to profit in fiscal 2020.
General Accident 2018 results came out in the region of 29 cents per share but with $129 million less investments income and a big bump up in Management fee expense of 40 percent to $803 million. Importantly, net premium income rose a strong 28 percent for the full year. Selling pressure may be easing up with buying picking up.
ISP Finance reported flat profit for the year to December but revenues rose 18 percent in the last quarter over that of 2017 driving profit in the quarter 30 percent to $25 million. The results was strong enough to drive the bid above the last traded price and push selling of the stock on to the sideline. The growth in the final quarter of 2018 points to improving fortunes for the company and so could ignite demand for the stock at a higher price than the closing bid of $13.
Jamaica Stock Exchange shares hit a new high of $17.95, during the past week, with increasing interest shown in the stock. Exposed supply is currently not high, with expected continued buoyancy in the market and a big increase in new listings this year, investors seem more aggressive to buy into what should be another year of increased profit for the company. Seprod’s price moved up to $39 with increased demand for the shares continuing against the background of declining supply. The price seems poised to move even higher in the coming weeks as the stock remains attractively priced and in limited supply.

Some of Seprod”s products.

Lasco Financial came out with powerful December quarter profit that rose 95 percent to $107 million after tax but a still respectable 67 percent before tax. Nine months profit rose by a much slower 21 percent from $222 million to $268 million after tax but a slightly heathier 23 percent before tax. The December quarter has sufficient information that investors can use to determine what future prospects are for profit and that could help lift demand for the stock.
NCB Financial remains on the Watch List with strong gains in operating profit for the December quarter, but the stock is finding it hard to break through resistance at the $150 level and may need something out of the ordinary if the price is to move decidedly higher before the summer months.

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