More prices fell than rose in trading on the Junior Market on Tuesday, with 28 securities being active compared to 26 on Monday, leading to 7 advancing, 10 declining while 11 remained unchanged.
The market closed with the index slipping 6.28 points to close at 3,265.74. Trading resulted in an exchange of 2,437,685 shares valued at $12,670,997 compared to 2,306,821 units valued at $10,660,960, on Monday.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading had 8 stocks ending with bids higher than their last selling prices, 2 closed with lower offers.
Trading closed with an average of 87,060 units for an average of $452,536 in contrast to 88,724 units for an average of $410,037 on Monday. Trading for the month to date averages 87,861 shares with an average value of $432,073. Trading in August, averaged 244,613 units at $1,348,298 for each security traded.
At the close of trading, AMG Packaging ended with a loss of 2 cents at $1.92, trading 40,000 stock units, Blue Power concluded trading of 56,207 units and rose 3 cents to $5.03, Cargo Handlers settled with a loss of 48 cents at $12.52, with 14,210 shares changing hands, Caribbean Flavours traded at $19, in exchanging 200,000 stock units, Caribbean Producers finished trading 4,615 units at $6.50. Consolidated Bakeries closed with a loss of 5 cents at $2.45, with 2,100 shares changing hands, Derrimon Trading jumped $3.99 to end at a 52 weeks’ closing high of $26.99, with 4,177 shares changing hands, Dolphin Cove concluded trading of 1,000 shares at $17, Elite Diagnostic finished with a loss of 1 cent at $3, trading 15,996 stock units. Everything Fresh rose 5 cents in trading 170,499 shares to end at $2.25, Express Catering ended trading 17,421 shares with a loss of 45 cents to close at $7.55, FosRich Group traded with a loss of 19 cents at $2.80, in exchanging 589 shares, General Accident finished trading 11,700 shares and climbed 44 cents to $4.29, Honey Bun ended 15 cents higher at $4.45, with 1,000,200 units changing hands. Indies Pharma closed at a new high of $2.90, after adding 21 cents and exchanging 367,022 shares, Jamaican Teas settled at $4.20, exchanging 205,000 shares, Jetcon Corporation ended trading 158,000 stock units at $4, KLE Group finished trading with a loss of 25 cents at $3.05, with 12,342 shares, Knutsford Express closed with a loss of 10 cents at $12.50, with 3,016 shares changing hands. Lasco Distributors ended at $4, with 31,661 shares trading, Lasco Financial concluded trading of 1,409 stock units with a loss of 20 cents at $5.60, Lasco Manufacturing finished 10 cents higher at $4, trading 40,100 units, Main Event settled with a loss of 10 cents at $7, with 3,000 shares changing hands. Medical Disposables ended trading at $6.67, with 1,400 shares, Paramount Trading traded 7,892 shares at $3, Stationery and Office finished trading 20,378 stock units at $8.50 and tTech ended at $6, with 3,217 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.
7 stocks fall on TTSE – Tuesday
The Trinidad & Tobago Stock Exchange, declined at the close of trading on Tuesday as declining stocks overwhelmed the one stock to advance.
The market closed with 17 securities changing hands against 15 on Monday, 1 advanced, 7 declined and 9 remained unchanged and trading of 2,159,977 shares at a value of $8,188,631, compared to 168,289 shares valued $2,804,863, previously traded.
At close of the market the, Composite Index the Composite Index lost 2.33 points to 1,220.77, the All T&T Index declined 0.41 points to 1,696.33, while the Cross Listed Index slipped 0.59 points to close at 100.16.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading closed with 1 stock ending with a higher bid than the last selling price and 3 with lower offers. Two companies closed with prices at 52 weeks’ low.
Stocks closing with gains| Scotiabank concluded trading of 560 shares and rose 66 to end at $65.02.
Stocks closing with gains| When the market closed, First Citizens fell 1 cent to end at $34, after exchanging 2,918 shares, Gaurdian Media closed with a loss of 25 cents and completed trading at a 52 weeks’ low of $15.75, after exchanging 100 shares, Grace Kennedy shed 12 cents and settled at a 52 weeks’ low of $2.70, with 1,550,000 stock units changing hands, Guardian Holdings lost 10 cents and ended at $16.90, trading 5,000 units, JMMB Group ended trading 1 cent lower at $1.70, after exchanging 268,008 shares, Sagicor Financial concluded trading with a loss of 24 cents and settled at $7.51, with 300 stock units changing hands and Trinidad & Tobago NGL traded with a loss of 9 cents and ended at $29.41, after exchanging 44,065 shares.
Stocks trading with no price change| Agostini’s completed trading at $21.11, after exchanging 100 shares, Calypso Macro Index Fund traded 3,290 units to close at $15.80, Clico Investments settled at $20, with 2,396 stock units changing hands, Massy Holdings completed trading at $47, after exchanging 430 shares, National Enterprises settled at $8.95, with 164,535 stock units changing hands, National Flour closed at $1.75, in the exchange of 112,600 units, NCB Financial Group ended at $5.67, after exchanging 3,558 shares, Republic Financial Holdings completed trading at $103.52, after exchanging 1,722 shares and West Indian Tobacco concluded trading of 395 shares at $87.90.
Prices of securities trading for the day are those at which the last trade took place.
All Jamaica breaks 366,000 points
Ending trading at a new record close on the first trading day of September, the Jamaica Stock Exchange climbed new intraday high on the second trading day of the month, with the All Jamaican Composite Index surging over 366,000 points level.
At 12 minutes after opening the All Jamaica Composite Index rose 2,142.96 points to a record 365,464.29 and by 28 minutes after opening it jumped 2,697.72 points to 366,019.05 and the JSE Index climbed 1,952.48 points to a record 332,979.28 and within 2 minutes of 10 o’clock it jumped 2,457.93 to a record 333,484.73
Later on, the market pulled back, with the all Jamaica Index up 1,751.53 to 365,072.86 and the JSE index gaining 1,595.84 to 332,622.64 as NCB Financial pulled back to $112.
The Junior Market lost 17.36 points to 3,255.01.
Major contributor to the early gains, is NCB Financial with a rise to $114.95 from a close of $112 on Monday.
Harris Group buys Antiguan paint business.
Harris Paints Group, the parent company of Jamaican B-H Paints, recently purchased the assets of Lee Wind Paints in Antigua.
The Harris group of companies was established in Barbados in 1972 and is one of the Caribbean’s manufacturers of architectural finishes, building products and industrial coatings.
The group expanded with the acquisition of Brandram-Henderson (B-H Paints) in 2006, a Jamaican paint manufacturer that was founded in 1961.
Harris employs over 200 people across the region, and manufactures paint in Barbados, Dominica, St. Lucia, Guyana and Jamaica. The group distributes paints and related products to over 15 countries in the Caribbean.
Ian Kenyon, CEO-Harris Paints Group, said that the company looked forward to establishing a new manufacturing facility, increasing their investment in the country and that it would provide important strategic access to new export markets such as the BVI, US Virgin Islands, as well as Turks and Caicos.
Over the past six years the Harris Group has seen consistent profitable topline growth across its operations. Kenyon said that these results were achieved despite some very challenging conditions. “The Caribbean has experienced difficult economic times in many of the markets and this has been compounded by the recent severe weather systems across the region, yet our teams in each of the 15 countries we currently sell to, have responded magnificently and have been very successful in achieving profitable market growth and increasing shareholder value. He added, “we are very optimistic about our future as we have built very strong springboards for growth with our investments in infrastructure and have a very exciting portfolio of new product and service innovations ready and primed to launch over the next few years”
This year, the Harris Group also invested and successfully implemented a new state-of-the art enterprise resource planning (ERP) system that integrates all manufacturing plants and functions across the Caribbean, including at the B-H facility in Kingston, providing improved business efficiency and a comprehensive digital platform that will strengthen their marketing capability.
Big price fall on TTSE – Monday
After closing for the Independence holiday on Friday, the Trinidad & Tobago Stock Exchange got shook up, with sharp decline in the prices of a series of securities in trading on Monday.
When the market closed, First Citizens lost 84 cents and completed trading at $34.01, after exchanging 5,443 shares, Massy Holdings fell 90 cents and closed at $47, trading 1,101 shares, NCB Financial Group lost 47 cents and completed trading of 3,590 shares at $5.67, Scotiabank dropped 64 cents to end at $64.36, trading 1,460 units and Unilever Caribbean closed with 3,450 shares changing hands as the price dropped $1.75 to end at $25, the lowest price since May 11, 2011.
The market closed with 15 securities changing hands against 18 on Thursday, 2 advanced, 5 declined and 8 remained unchanged and trading of 168,289 shares at a value of $2,804,863, compared to 1,412,439 shares at a value of $53,377,248, previously traded.
At close of the market the, Composite Index the Composite Index dropped 14.06 points to 1,223.10, the All T&T Index declined 4.56 points to 1,696.74, while the Cross Listed Index lost 3.26 points to close at 100.75.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading closed with 2 stocks ending with higher bids than the last selling prices and 4 with lower offers.
Stocks closing with gains| JMMB Group added just 1 cent to settle at $1.71, after exchanging 7,633 shares and Republic Financial Holdings gained 2 cents settled at a 52 weeks’ high of $103.52, after exchanging 10 shares but closed with the bid at $105 to buy just 10 units.
Stocks trading with no price change| Agostini’s settled at $21.11, after exchanging 9,315 shares, Clico Investments closed at $20, with 376 stock units changing hands, First Caribbean International Bank traded 463 units to finish at $8.49, Grace Kennedy concluded trading at $2.82, with 32,514 stock units changing hands, Guardian Holdings closed at $17 exchanging 84,280 units, One Caribbean Media closed at $12.11, after exchanging 163 shares, Trinidad & Tobago NGL concluded trading at $29.50, after exchanging 17,235 shares and West Indian Tobacco ended at $87.90, trading 1,256 units.
Prices of securities trading for the day are those at which the last trade took place.
NCB Financial remains on high alert
The Jamaican stock market, scaled new heights last week, helped by NCB Financial hitting a record high of $115, as supply of the stock being sold remains limited.
More buying came in for the stock on Friday and investors should be on the watch again as the price could go higher during the current week.
Grace Kennedy is another of the main market stocks to keep an eye on, as it slowly tries to move higher. Caribbean Cement moved back to $50, on Friday and could go further in this week as increased demand came in for the stock. It clearly one to watch but investors will need to determine if Friday’s move is a part of the usual month end window dressing. Kingston Wharves closed at $61.80 but traded as high as $65, supply remains low, thus favouring further price gains, even as the stock is carries by far the highest PE in the market. Watch for Scotia Group that should be releasing third quarter results, this week Thursday and Sygnus Credit Investments that posted full year results in line with expectations of US$1.4 million.
In the Junior market, Indies continue with strong demand existing for the stock, with news of potential acquisition and new products, the stock is worth watching for more gains. General Accident could move higher as more demand comes in for it with limited selling.
Caribbean Flavours seems to be following its parent, Derrimon Trading, continuing to rise with limited volume on sale currently. Medical Disposables, declined during the previous week, recovered last week and .should be moving higher going forward, continue to watch this one, as well as Derrimon Trading that has contracted to distribute products of a Trinidad producer.
Stocks with scarce supplies that could spring surprises include Barita Investments, Grace Kennedy, NCB Financial, Berger Paints, Caribbean Cement, Kingston Wharves, PanJam Investment, Sagicor Group, Salada Foods, Seprod and Scotia Group. The main market is not the only segment with limited supplies. The Junior Market supplies continue to be limited for many of the listings. The list includes, Caribbean Flavours, Cargo Handlers, Derrimon Trading, Express Catering, General Accident, Caribbean Cream, Medical Disposables, Stationery and Office Supplies and tTech.
An overall view of stocks indicates that the main market continues to be steered higher by an upward sloping support line as well the 45 and 125 day moving averages, lending support just below. The Junior Market now at a 15 months’ high, is being steered by an upward rising long-term support line and a golden cross. The golden cross is a very strong bullish long-term signal.
Under 1,000 investors bought Stanley Motta
Stanley Motta shares were recently listed on the Main Market Jamaica Stock Exchange in late August after a successful initial public offering (IPO), which raised $4 billion for the Musson Jamaica, the sellers of the shares.
Investors were given the opportunity to be a part property rental business located at 58 Half-Way-Tree Road next door to New Kingston, the country’s premier business centre. The IPO which opened July 6 and closed on July 20, attracted just under 1,000 investors and is one of the issues since 2018 with the lowest number of investors who bought into the issue. That is not surprising as the issue was geared to long term investors. Since listing the stock that was sold at $5.31 has fallen in price and last traded at $4.60 but could well increase significantly, as it now boast a PE ratio of just 10 at the latest price.
58 Half Way Tree Road, boasts five buildings with more than 230,000 square feet of office space for BPOs and other technology-based companies.