Indies Pharma trades 93M Junior Market shares – Monday

January 7, 2019 by

Indies Pharma traded 93 million shares on the Junior Market on Monday and pushed the day’s volume to 93,801,898 units valued at $301,590,900 compared to 1,085,040 units valued at $5,213,905 on Friday.
Trading ended, with 25 securities changing hands, compared to 25 trading on Friday. The prices of 7 securities rose 9 declined and 9 remained unchanged leading the Junior Market Index to decline 5.34 points to 3,246.78 at the close.
The average trade ended at 3,752,076 units for an average of $12,063,636 on Monday, in contrast to 43,402 units for an average of $208,556 on Friday. The average volume and value for the month to date amounts to 1,115,910 units valued at $3,616,643 and previously 35,515 units valued at $154,760. In contrast, December ended with an average of 136,222 units at a value of $737,367 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 higher bids than their last selling prices and 3 closing with lower offers.
At the close of the day’s activities, AMG Packaging ended trading with 4,447 stock units, changing hands with a loss of 3 cents at $1.87, Cargo Handlers settled at $15, with an exchange of 16,668 shares, Caribbean Cream ended trading 5,955 shares, with a loss of 5 cents at $5.85, Caribbean Flavours traded 1,830 stock units at $19. Caribbean Producers finished trading of 517,615 units with a loss of 10 cents at $4.90, Derrimon Trading ended at $2.45, with 176 shares changing hands, Elite Diagnostic lost 5 cents at $2.85, trading 42,801 stock units, Everything Fresh rose 10 cents to end trading of 71,724 shares to close at $2. Express Catering settled 10 cents higher at $8, with an exchange of 18,240 units, FosRich Group ended trading with 60,860 shares at $3.90. General Accident traded 10,665 shares, with a loss of 9 cents at $3.29, GWest Corporation finished trading of 5,700 shares 30 cents higher at $2, Honey Bun closed at $3.85, with 2,625 stock units changing hands, Indies Pharma lost 15 cents in trading of 92,764,938 shares at $3.10. Jamaican Teas finished 20 cents higher at $4.20, with an exchange of 85,640 shares, Jetcon Corporation jumped 74 cents to $3.34, with 9,500 shares trading, Key Insurance ended trading 20,095 stock units, with a loss of 90 cents to close at $3.10, KLE Group traded 51,833 units at $3, Knutsford Express finished trading at $12.50, with 447 shares. Lasco Distributors closed 10 cents higher at $3.99, in trading 21,600 shares. Lasco Financial ended with a loss of 10 cents at $4.50, with 51,011 shares changing hands, Lasco Manufacturing concluded trading with 23,925 stock units with a loss of 29 cents at $3.70, Main Event finished 1 cent higher at $6.98, with 860 units changing hands and Stationery and Office traded 12,643 shares at $8.10. In the junior market preference segment, CAC 2000 9.5% closed at $1.16, in trading 100 shares.

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

 

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

Trading gains for Trinidad stocks

January 7, 2019 by

CinemaOne traded for the first time since listing on teh SME in lte 2018.

Market activity on the Trinidad & Tobago Stock Exchange ended on Monday with trading in 17 securities against 13 on Friday, with 4 advancing, 2 declining and 11 remaining unchanged.
At close of the market, the Composite Index fell 0.27 points to 1,306.03, the All T&T Index lost 0.59 points to 1,708.47, while the Cross Listed Index gained 0.01 points to close at 122.09.
Trading ended with 548,561 units valued at $3,807,515 and included CinemaOne that traded for the first time in the SME sector, compared to 64,237 units valued at $1,038,842 on Friday.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with 2 stocks with the bid higher than the last selling price and 2 with lower offers.
Stocks closing with gains| Angostura Holdings gained 25 cents to close at $16.25, with 19,300 stock units changing hands. Clico Investments ended trading of 97 stock units after rising 16 cents to end at $20.16, National Enterprises added 1 cent and ended at $8.01, with 87,938 stock units changing hands and West Indian Tobacco gained 15 cents and ended at $95.40, with 510 stock units changing hands.
Stocks closing with losses| Guardian Holdings lost 50 cents and completed trading of 8,195 units at $18.50 and Trinidad & Tobago NGL lost 5 cents and completed trading at $29.10, with 22,400 units.
Stocks trading firm| Calypso Macro Index Fund ended trading of 3,320 shares to close at $15, newly listed Cinemaone, traded for the first time since listing on the Small securities market with 200 shares exchanging hands at $10. First Citizens settled at $34, after exchanging 1,772 shares, JMMB Group concluded trading at $1.75, after exchanging 378,037 shares, Massy Holdings closed at $47, after exchanging 11,909 shares, NCB Financial Group settled at $8.55, after exchanging 7,333 shares. One Caribbean Media ended at $10.25, after exchanging 500 shares, Republic Financial Holdings settled at $107.26, after exchanging 4,790 shares, Sagicor Financial exchanged 2,210 shares to end at $9, Scotiabank ended at $64, with 40 stock units changing hands and Unilever Caribbean closed at $23, after exchanging 10 shares.

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

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

Sterling comments on rights issue

January 7, 2019 by

Sterling Investments

Thanks very much for your feedback and observations IC Insider. Here are a few facts to aid the analysis:
1. SIL shareholders have known about the upcoming rights issue for over 3 months, the longest notice given by any company in the last 2 years!
2. SIL shareholders voted at an EGM on October 8, 2018 to conduct a rights issue. All shareholders, large and small, had a chance to physically attend the meeting and vote on the resolutions proposed. The Board welcomed the decision of the shareholders to do the rights issue and take advantage of great investment opportunities available in the global marketplace!
3. On December 12, the company published the details of the rights issue on the JSE website and the allotment formula for all shareholders. The notice informed shareholders that they would be able to purchase 2 shares for every 3 shares they owned. It also stated that the rights would apply to all shareholders that owned shares as at December 27, 2018. We received many calls from excited shareholders who wanted to participate!
4. SIL placed 2 full page advertisements in the newspaper to remind shareholders: On December 27, 2018 Sterling Investments Limited placed an ad in the Gleaner advising shareholders that the information was available on the JSE website, the SIL website.

Marion Ross of Sterling Investments.

5. On January 3, 2018 the JCSD mailed letters to shareholders with the forms they needed to complete. These forms are also available on the JSE website. Some shareholders have confirmed receipt of the documents and some shareholders may not have received them yet due to delays in the local postal service.
6. Sterling Investments remains committed to ensuring all shareholders are given equal and sufficient opportunity to participate in this great investment company. Existing SIL Shareholders will have until January 18th 2019 to renunciate their rights and can apply for shares in the excess pool until January 25th.
7. We are grateful to IC Insider.com for their shareholder advocacy.
Publishers’ comments: thansk for the feedback. While SIL took steps to inform shareholders it does not chnage the facts that the information that was mailed, was sent out late and had critical pages missing or pages with only partial information thereon.

Filed Under: Company News, General Business News

Record new JSE listings for 2019

January 7, 2019 by
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This year could be a busy one for Initial public offers (IPOS) and record new listings on The Jamaica Stock Exchange (JSE), giving investors many more choices for placing their money.  
Nine IPOs came to the market in 2018 with three in December, giving investors more investment choices than in 2017. For 2019, ICreate will be the first IPO out of the block. The government owned Wigton Wind Farm’s IPO will be launched early 2019, probably by March, but it is not one for all investors, in spite of what some politicians would want to see happening. IC Insider.com gathers others to come include, a central Jamaica Manufacturing entity with strong export base, a large paint company and one in the BPO sector. In addition, IC Insider.com gathers that there are at least another three IPOs, should definitely make it to the market this year.
The JSE is projecting for 21 new listing in the current year, Marlene Street Forrest, General Managing Director, informed IC Insider.com recently.
“The main market expects 10 of the total and the Junior Market 11. The list includes both ordinary and preference shares”, Street Forrest stated.

Filed Under: Initial Public Offers Tagged With: , , , , ,

Another stock exchange fiasco

January 7, 2019 by

Sterling Investments

The Jamaica Central Securities Depository (JCSD) finds itself in another fiasco regarding the issue of new shares, following the mess up of the recent Seprod share issue where amounts originally allocated to investors were changed.
The latest mess is the documentation and their dispatch for the rights issue of Sterling Investments shares. The notice for the issue that opened on January 4 and closes on January 11, was only posted on January 3, clearly late for some investors.
The lateness of course is a problem the company could easily fix by extending the deadline date. So far, no official position to extend the deadline date, has been taken. The latest bit of information reaching IC Insider.com, suggests that the date will have to be pushed back.
Two documents were sent to shareholders. A cover letter, describing the issue and mentioning that shareholders can apply for excess shares over their allotment. The application forms sent did not include the page for shareholders to

The Jamaica Stock Exchnage subsidiary

apply for excess shares (page 4). That of course is not the only problem with the forms. In addition, part of page 1 with instructions is missing, also cut off are sections of pages 2 and 5. In short, the application forms included reflects a level of sloppiness in its execution and does not reflect well on those responsible for the job.
It unclear how the company and the JCSD will deal with the matter, but it appears that the proper way would be the sending of the corrected forms to shareholders and extend the deadline date.
The capital market needs to clean up its act if it is not loose credibility.

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

 JSE falls in late trading on Friday 

January 4, 2019 by

Trading on the Jamaica Stock Exchange, got off to a very late start on Friday with the trading platform in all three territories of Barbados, Trinidad and Jamaica being down until late in the afternoon.
The main and US dollar markets, had 30 securities changing hands with prices of 9 rising, 9 declining with 12 remaining unchanged, compared to 32 securities trading on Thursday.
At the close of trading, the All Jamaican Composite Index dived 4,996.25 points to 412,791.89 and the JSE Index dropped 4,552.15 points to close at 376,100.09.
Trading ended with 1,056,249 units valued at $28,629,116 compared to 1,104,557 units valued at $29,738,314 changing hands on Thursday.
WISYNCO Group led trading with just 156,244 units and 14.8 percent of the day’s volume, followed by Carreras with 155,620 units or 14.7 percent of the volume changing hands and Scotia Group with 139,095 units accounting for 13.2 percent of the day’s volume.
An average of 39,120 units valued at $1,060,338, in contrast to 36,819 shares valued at $991,277 on Thursday. The average volume and value for the month to date amounts to 35,899 units valued at $921,873 compared to 34,373 units valued at $856,284, previously. Trading for December ended, with an average of 835,037 units with a value of $25,906,477, for each security traded.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator reading shows 5 stocks ending with bids higher than their last selling prices and 2 closing with lower offers.
In main market activity, Barita Investments fell $3.20 and closed at $51, with 43,500 shares changing hands, Jamaica Stock Exchange gained 25 cents in closing at $10.75 after 18,112 shares were traded. JMMB Group fell 99 cents to conclude trading of 28,159 shares at $33, Kingston Wharves rose 50 cents, finishing trading of 45,491 stock units at $75, NCB Financial Group  rose 40 cents in trading 35,433 shares at $149.90,  Proven Investments  traded 7,100 stock units but fell 40 cents to close at $26. Sagicor Real Estate Fund declined by 75 cents after trading 2,517 shares to end at $12. Scotia Group  traded 139,095 shares after falling $2 to close at $54, Seprod rose 30 cents to close at $30.30, with 21,292 shares changing hands and Sterling Investments  gained 30 cents and ended at $4, with 73,017 shares changing hands.
Trading in the US dollar market amounted to 185,049 units valued at $30,410. Eppley lost 3 cents and ended at a 52 weeks’ low of 97 cents with 534 shares trading, Proven Investments  traded 111,515 stock units and lost 0.5 cent to 21 US cents and Sygnus Credit Investments Jamaica dollar denominated shares traded 67,000 units at 9 US cents. The JSE USD Equities Index fell 4.71 points to close at 160.56.

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

Sharp jump in Junior Market trading – Friday

January 4, 2019 by

In a long delayed but shortened trading session on Friday, the Junior Market traded volume jumped 154 percent over Thursday’s levels while the value of trades increased by 203 percent resulting from 1,085,040 units valued at $5,213,905 compared to 426,549 units valued at $1,722,476 on Thursday,
Trading ended, with 25 securities changing hands, up from 15 trading on Thursday. The prices of 8 securities rose 9 declined and 8 remained unchanged leading the Junior Market Index to decline 9.24 points to 3,252.12 at the close.
The average trade ended at 43,402 units for an average of $208,556 in contrast to 28,437 units for an average of $114,832 on Thursday. The average volume and value for the month to date amounts to 35,515 units valued at $154,760 and previously 30,037 units valued at $117,401. In contrast, December ended with an average of 136,222 units at a value of $737,367 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 higher bids than their last selling prices and 2 closing with lower offers.
At the close of the day’s activities, Access Financial ended with a loss of $2.03 at $50.55, with 8,692 shares changing hands, AMG Packaging ended 3 cents higher at $1.90, trading 60,400 stock units, Cargo Handlers settled at $15, with an exchange of 11,000 shares, Caribbean Cream closed 8 cents higher at $5.90, in trading 5,445 shares. Derrimon Trading ended at $2.45, with 150,489 shares changing hands, Dolphin Cove concluded trading of 355 shares, at $16.50, Elite Diagnostic finished with a loss of 4 cents at $2.90, with an exchange of 20,996 stock units, Everything Fresh ended trading of 128,018 shares to close at $1.90. Express Catering settled with a loss of 29 cents at $7.90, with the trading 265,900 units, FosRich Group ended trading of 4,821 shares and rose 4 cents higher to $3.90. General Accident traded 75,107 shares with a loss of 2 cents at $3.38,  Honey Bun  closed with a loss of 5 cents at $3.85, with 13,750 stock units changing hands, Indies Pharma  closed trading of 50,512 shares at $3.25, ISP Finance  concluded trading 3,300 shares at $1 higher to end at $13. Jamaican Teas  finished 10 cents higher at $4, exchanging 500 shares. Key Insurance  ended trading at $4, with an exchange 10,000 stock units, KLE Group  traded 42,700 units at $3,  Knutsford Express  closed trading of 1,100 shares with a loss of 50 cents at $12.50.  Lasco Distributors  closed 7 cents higher at $3.89, with 169,003 shares changing hands, Lasco Financial  ended with a loss of 16 cents at $4.60, after 25,861 shares changed hands, Lasco Manufacturing  concluded trading with 13,300 stock units for a gain of 1 cent to $3.99.  Medical Disposables  settled 50 cents higher at $7, with the trading of 10,588 shares, Paramount Trading exchanged 4,122 shares at $2.90,  SSL Venture Capital lost 1 cent in trading 5,115 shares to end at $1.93 and  Stationery and Office traded with a loss of 5 cents at $8.10, with 3,966 shares changing hands.

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

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

Trading levels dropped sharply in Trinidad

January 4, 2019 by

In a delayed trading session of the Trinidad Stock Exchange on Friday, due to connectivity issues that prevented trading from taking place, the market closed with considerably lower volume and value trading.
At close of the market, the Composite Index fell 2.49 points to 1,306.30, the All T&T Index gained 0.09 points, to close at 1,709.06, while the Cross Listed Index eased 0.70 points to close at 122.08.
The market closed with 13 securities changing hands on Friday, against 19 on Thursday and finished with 1 advancing, 2 declining and 10 remaining unchanged.
Trading ended with units 64,237 valued at $1,038,842 compared to 908,602 valued at $14,315,716 on Thursday as Grace Kennedy dominated the volume traded with nearly 1 million shares.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with just one stock with the bid higher than the last selling price and one with a lower offer.
Stocks closing with gains| Trinidad & Tobago NGL increased 5 cents and completed trading of 600 units at $29.15.
Stocks closing with losses|National Enterprises closed with a loss of 1 cent to end at $8, with 9,770 stock units changing hands and NCB Financial Group closed with a loss of 10 cents and settled at $8.55, after exchanging 40,314 shares.
Stocks trading firm| Ansa McAl completed trading with 1,875 units, at $55, Calypso Macro Index Fund ended trading of 80 shares to close at $15, Clico Investments ended at $20, with 4,287 stock units changing hands, First Citizens settled at $34, after exchanging 100 shares, Grace Kennedy ended at $3.05, trading 864 stock units. Massy Holdings closed at $47, after exchanging 1,810 shares, Republic Financial Holdings settled at $107.26, after exchanging 1,356 shares, Scotiabank ended at $64, with 207 stock units changing hands, Unilever Caribbean concluded at $23, exchanging 1,726 shares and West Indian Tobacco ended at $95.25, with 1,248 stock units changing hands.

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

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

JSE down over 5,000 points in late trading

January 4, 2019 by

Trading on the Jamaica Stock Exchange starts today with the preopening going from 2.30pm with trading opening at 2.45Pm.
Trading will end at 4 Pm in a shortened session after the trading platform became non functional across the Caribbean region today. With the long interuption the JSE is yet to inform the public and entities that that get their feed about teh interruption and commencement of trading. It appears that the general public and investors who are avid flllowers of the market are unimportant in the scheme of things.
With only a few minutes into trading only the Junior Market inched up just 8.14 points and the JSE all Jamaica Composite index dropped 5,384.11 points to 412,404.03.

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

Stock trading disrupted across Caribbean

January 4, 2019 by

Trading has not commenced on either the Trinidad or Jamaica Stock exchanges up to 1 PM, Jamaica time.
Based on a release from the Trinidad and Tobago Stock Exchange, (TTSE) a systemic problem affected the trading activity in allof the three exchanges in Jamaica, Trinidad and Barbados is the reason for the lack of trading earlier in the day.
The TTSE issued a release earlier today as follows, “TTSE wishes to advise all our valued stakeholders of a delay in trading on January 4th, 2019 due to a technical infrastructure issue experienced by one of our service providers which has impacted all three (3) major regional exchanges and is beyond the control of the TTSE. While our service providers are working expeditiously to resolve this issue, we have activated our business continuity process and advise that trading will commence later today. We thank you for your patience and cooperation at this time.”
The Jamaica Stock Exchange (JSE) advised no one of the problem, while a check on the Barbados Stock Exchange website revealed no information on trading for the day.

Marlene Street Forrest, Managing Director of the JSE.

The JSE has clients who utilize their trading platform but not even those persons have been advised about the problem and given an indication whether trading will occur or not for the day.
IC Insider.com had previously indicated that the problem was with the current trading platform that was installed at the start of 2016, has been plagued with several problems. Marlene Street Forrest, Managing Directors of the JSE advised that the problem was not with the platform but was a connectivity issue that impacted the system that prevented trading from taking place.

Filed Under: Breaking News, JSE Combined, Stock Market, TTSE Market Tagged With: , , , , ,