Junior Market climbs 30 points – Wednesday

July 25, 2018 by

Junior market volume contracting as selling volume decline.

The Junior Market closed trading on Wednesday with the index advancing 30.12 points to close at 3,087.95 after the prices of 9 securities advanced, 2 declined and 7 remained unchanged.
At the close of market activities,18 securities changed hands, resulting in an exchange of just 737,126 units valued at $3,562,822 compared to only 1,131,911 units valued $4,659,737, from 23 securities changing hands on Tuesday. C2W Music traded at a 52 weeks’ high of $2.
IC bid-offer Indicator|At the end of trading, as was the case at the close on Thursday signs continue to be good for a continuation of gains when trading resumes, with a very positive Investor’s Choice bid-offer indicator reading of 8 stocks ending with bids higher than their last selling prices and 3 with lower offers.
Trading closed with an average of just 40,951 units for an average of $197,935 in contrast to 49,214 units for an average of $202,597 on Tuesday. The average volume and value for the month to date amounts to 172,947 units valued at $702,449 and previously, 179,299 units valued at $726,731. Trading in June, ended with an average of 139,543 units, valued at $671,002 for each security traded.
The average volume and value for the month to date amounts to 172,947 units valued at $702,449 and previously, 179,299 units valued at $726,731. Trading in June, ended with an average of 139,543 units, valued at $671,002 for each security traded.
At the close of trading, Access Financial closed in trading 550 shares at $46.70, Caribbean Cream ended trading with a loss of 99 cents at $5.50, with 25,461 units, C2W Music ended 50 cents higher at a 52 weeks’ high of $2, with 10,200 shares, Derrimon Trading concluded trading at $21, with 27,855 stock units, Dolphin Cove climbed $1 higher at $17, trading 2,800 shares. Elite Diagnostic settled at $2.80, with 51,331 units being traded, Everything Fresh traded 106,055 shares and gained 5 cents to end at $2.
Express Catering traded 123,443 units and gained 30 cents to end at $7.80, FosRich Group finished trading with a loss of 16 cents at $2.55, exchanging 35,905 shares, General Accident closed at $3.10, with 200,000 stock units changing hands. Honey Bun concluded trading 1,005 shares and rose 5 cents to $4.70, ISP Finance settled at $16 after $1 with 5,597 shares trading, Jamaican Teas ended trading 13,938 stock units at $5, Jetcon Corporation traded 31,940 units at $4.10. Lasco Distributors gained 5 cents to close at $4, in exchanging 58,355 stock units, Lasco Financial close with 6,069 units trading and rose 20 cents to end at $5.20, Lasco Manufacturing settled at $4, exchanging 36,120 shares and Stationery and Office closed 55 cents higher at $8.50, with 502 units 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: , , , , , , , , , , , , , , , , , , , ,

TTSE flashing negative signals

July 25, 2018 by

Ansa Mcal price dropped $3 on Wednesday to test the 52 weeks’ low reached in June.

Ansa Mcal dropped $3 in trading a mere 200 units to close back at a recent 52 weeks’ low of $55, reached on June 11 and helped to spark a sharp decline in the two main market indices of Trinidad & Tobago Stock Exchange, on Wednesday.
The signals from a number of stocks suggest that a downward bias is present as a number of prices have moved down to test recent 52 weeks’ lows. This is a development worth watching going forward for a while.
At the close the Composite Index lost 5.79 points to 1,218.01, the All T&T Index declined 10.93 points to 1,709.04 and the Cross Listed Index fell 0.07 points to close at 97.63.
Market activity ended on Wednesday with 15 securities trading against 13 on Tuesday, with 5 advancing, 6 declining and 4 remaining unchanged. The volume traded declined from Tuesday’s level but the value more than doubled as 263,410 units valued $10,262,782 changed hands compared to 704,242 units valued $4,324,693 on Tuesday.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows market sentiment with 2 stocks ending with higher bids than the last selling prices and 3 with lower offers.
Gains| In trading on Wednesday, Guardian Holdings gained 1 cent and closed at $16.61, trading 400 units, LJ Williams B share rose 1 cent and ended at 70 cents, after exchanging 13,295 shares, Republic Financial Holdings closed with a gain of 1 cent and completed trading at a 52 weeks’ high of $102.81, after exchanging 2,120 shares, Scotiabank gained 1 cent and ended trading 100,600 units at $65.02 and Trinidad & Tobago NGL finished trading with a rise of 15 cents and ended at $29.75, after exchanging 63,510 shares.
Losses| Clico Investments lost 20 cents and settled at $20, with 72,130 stock units changing hands, First Citizens ended trading 1 cent lower at $34.91, after exchanging 598 shares, National Enterprises concluded trading of 1,000 stock units with a loss of 5 cents and settled at $9.50, in testing the 52 weeks’ low reached June 13 of $9.49. National Flour traded 50 shares and fell 1 cent to $1.79 and Sagicor Financial fell 5 cents and settled at $7.70, to test the 52 weeks’ low for the third time in weeks, with 2,277 stock units changing hands.
Firm Trades| Ansa Merchant ended at $40, after exchanging 1,394 shares, Massy Holdings completed trading at $46.95, after exchanging 409 shares, but traded earlier at an intraday 52 weeks’ low of $46.93, One Caribbean Media completed trading at $12.10, after exchanging 328 shares and Point Lisas settled at $3.70, with 5,099 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: , , , , , , , , , , , , , , , , , ,

Motta shares fully allocated

July 25, 2018 by

%8 Half Way Tree Road owned by Stanley Motta.

Shares offered for sale in Stanley Motta were fully taken up report from NCB Capital Markets shows.
According to a release from the brokers to the deal, the offer of reserve shares and those the general public were full allocated.
The Company intends to apply to the Jamaica Stock Exchange for the listing on the main market of the JSE of all the Shares and to make such application as soon as is conveniently possible following the close of the offer. The offer opened on July 6 and was scheduled to close on July 20, but an notice in Friday the 20th in the Daily Gleaner, disclosed that the issue was closed suggesting that the issue was fully taken up with minimal take up by the NCB Capital Markets as underwriters.
The offer covered 757 million shares with 227,348,547 reserved mostly for family members of the majority shareholders of the Musson Group and 529,970,315 units for the General Public for purchase at $5.31 per share, meant to raise $4 billion.

Filed Under: Initial Public Offers Tagged With: ,

BOJ buys $5m at J$133.65

July 25, 2018 by
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The rate Bank of Jamaica paid on Wednesday, July 25 to purchase US$5 million in the B-FXITT Standard Intervention Tool – buy operation average J$133.65.
Eligible dealers placed bids to buy only $5.5 million with the highest priced offer at 137.24 to sell $200,000 and the lowest at $126 for $200,000. BOJ purchased funds as high as $137.10 amounting 40 percent of the amount offered while the amount of $350,000 that was offered at $137 was fully taken up. Eligible Offers were received from 19 sellers while 18 had funds bought.
The central bank will buy US$5 on Wednesday July 31 and August 8 and will sell $10 million to the market on August 19.

Filed Under: Breaking News, FX Market Tagged With: , , , , ,

Banks love Turks & Caicos most

July 25, 2018 by

Turks & Caicos Islands is the destination by far, that banks and non-banks are most bullish about, according to data disclosed by the KPMG Carib Tourism 2018 survey.
Following Turks & Caicos, the financiers were bullish on Cayman Islands, then Jamaica, Antigua and Barbuda with Bermuda in fifth spot.
“When we looked at which destination in the Caribbean financiers are most bullish about there were 16 different destinations put forward of which only 7 were nominated by both bank and non-banks,” KPMG said. KPMG went on to state,”this further corroborates the position seen in recent years that the financing landscape has changed and that the new landscape involves financiers favoring a small number of jurisdictions for whatever reason rather than financing projects across the entire region”
The survey stated that airlift was the number one factor that considered important followed by ability to recover for hurricanes speedily.
“For banks the second most important issues were the ability to recover from hurricanes (88 percent) and outdated infrastructure (88 percent). Non-banks were unanimous (100 percent) in terms of the importance of crime and the ability to recover from hurricanes.”

Filed Under: General News, Real Estate

Strong appetite for funding hotels

July 25, 2018 by

KPMG 2018 Caribbean Tourism survey findings showed a strong appetite by financing new and existing tourism related projects within the Caribbean region.
The findings stated that, “one of the most positive set of results the was in response to a question as to what appetite financiers had for issuing senior debt for different types of tourism related projects in the Caribbean.”
Nearly 90 percent of banks and all nonbank respondents said they had a positive appetite for issuing senior debt to existing hotels for refinancing, expansion and renovation. Approximately 86 percent of non-banks had a positive attitude towards financing acquisitions as did 67 percent of non-banks. Not surprisingly, new builds were a more difficult category to register a positive attitude but 33 percent of banks and 43 percent of non-banks had a positive appetite for new builds. “These are really high percentages, particularly for financing existing hotels and acquisitions. Whereas previously financing applications for new builds were almost dismissed entirely, a sufficient critical mass of financiers are now willing to consider such applications,” KPMG team stated.

Filed Under: General News, Real Estate Tagged With:

Jamaican Dollar falls to $134.05 to US$

July 24, 2018 by

BOJ will buy US$5M from the market on Wednesday.

The Jamaican dollar jumped to an average of $134.05 when trading closed in the foreign exchange market on Tuesday up from $133.39 on Monday with inflows greater than inflows.
Foreign exchange dealers bought the equivalent of $66 million and sold US$51 million on Tuesday with the United states dollar accounting for US$60.4 million of the purchased amount and US$43.6 million of sales, a difference of US$17 million.
Similar to Monday when the purchase of US dollars were even with the sales with a total of US$44 million bought and US$44.5 million sold of all currencies, the rate paid by the public to purchase the US dollar jumped over the closing rate on Friday.
On Friday last US$37 million was purchased by dealers of all currency including US$35.5 million in US currency and US$27 million in US currency was sold at an average rate of $132.96, as a total of US$28 million sold of all currencies.
Based on the schedule of intervention by Bank of Jamaica, the central bank will buy US$5 million from the market on Wednesday to be followed by similar amounts on August 2, and August 8.

Filed Under: FX Market Tagged With: , , , ,

Junior Market volume climbs on Tuesday

July 24, 2018 by

The Junior Market closed trading on Tuesday with 23 securities changing hands, resulting in an exchange of just 1,131,911 units valued $4,659,737, compared to 363,861 shares valued $1,682,885, from 24 securities changing hands on Monday.
IC bid-offer Indicator|At the end of trading, as was the case at the close on Thursday signs continue to be good for a continuation of gains when trading resumes, with a very positive Investor’s Choice bid-offer indicator reading of 7 stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close of market activities, the prices of 11 securities advanced, 7 declined and 5 remained unchanged leading the Junior Market Index to gain 12.07 points to 3,057.83.
Trading closed with an average of just 49,214 units for an average of $202,597 in contrast to 15,161 units for an average of $70,120 on Monday. The average volume and value for the month to date amounts to 179,299 units valued at $726,731 and previously 187,823 units valued at $761,076. Trading in June, ended with an average of 139,543 units, valued at $671,002 for each security traded.
At the close of trading, Access Financial rose 30 cents to $46.70, in an exchange of 815 shares, Caribbean Cream climbed 49 cents to close at $6.49, trading 17,772 shares, Caribbean Flavours traded 2,000 stock units, rising 31 cents to $12, Caribbean Producers added 10 cents to close at $5.50, with 134,225 units trading, Derrimon Trading concluded trading 10,387 shares and close 50 cents higher at $21. Dolphin Cove gained 10 cents in closing at $16, with 5,000 stock units, Elite Diagnostic settled with a loss of 10 cents at $2.80, while exchanging 17,106 units, Eppley ended trading at $9.98, with 2,147 shares, Everything Fresh traded 166,000 shares and lost 5 cents to end at closing low of $1.95. Express Catering traded 38,000 shares and rose 20 cents to $7.50. FosRich Group finished trading 68,368 shares and lost 4 cents to end at $2.71, General Accident closed 5 cents higher at $3.10, with 19,696 stock units changing hands, GWest Corporation ended with a loss of 1 cent at $2.40, trading 244,676 units, Honey Bun concluded trading 13 cents higher at $4.65, exchanging 74,653 shares. Iron Rock finished at $3.10, with 27,100 shares, Jamaican Teas ended with a loss of 29 cents at $5, trading 17,659 stock units, Jetcon Corporation closed at $4.10, trading 2,500 units, Knutsford Express ended with a loss of 40 cents at $11.60, with 3,394 shares changing hands. Lasco Distributors concluded trading 45,118 stock units and rose 3 cents to $3.95, Lasco Financial finished exchanging 206,700 units at $5, Lasco Manufacturing settled at $4, trading 5,880 shares, Stationery and Office closed with a loss of 4 cents at $7.95, with 3,692 units and tTech concluded trading 8 cents higher at $5.40, with 19,023 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: , , , , , , , , , , , , , , , , , , , , , , , , , ,

JSE indices jump on Tuesday

July 24, 2018 by

The main market of the Jamaica Stock Exchange recovered nearly 30 percent of Monday’s losses with the main indices rising more than 1,800 points at the close on Tuesday.
At the close, the All Jamaican Composite Index jumped 2,051.32 points to close at 337,518.92 and the JSE Index climbed 1,868.99 points to close at 307,517.84.
Trading in the main market ended with 2,446,501 units valued $62,753,272 compared to 4,603,500 units valued $97,930,099 on Monday.
Market activities resulted in 27 securities trading including 4 in the US dollar market compared to 29 securities trading on Monday. At the end of trading, the prices of 12 stocks advanced, 12 declined and 5 closed unchanged.
The day’s volume was led by, Scotia Group with 722,516 shares and 29.53 percent of the day’s volume followed by Carreras with 18.82 percent of trading in an exchange of 460,377 shares and Jamaica Broilers with 256,820 units, accounting for 10.5 percent of the day’s volume.
Stocks with major price changes are, Caribbean Cement lost $2 and finished trading 8,484 shares at $40, Carreras fell 50 cents to finish at $9, Grace Kennedy dropped 25 cents to $51.76, with 46,464 stock units trading, Jamaica Broilers gained 56 cents and closed trading at $26.01, with 256,820 stock units, Kingston Wharves rose 65 cents and ended at $51, trading 6,020 shares, Supreme Ventures ended at $14.51, after falling 50 cents as 138,024 shares traded and Sygnus Credit Investments rose 50 cents to $13 trading 61,700 units.
Trading in the US dollar market closed with 102,860 units valued at US$17,357 as JMMB 6% ended with a gain of 0.5 cent and closed at $1.03 in trading 2,200 stock units and Productivity Business fell 2 cents and completed trading at $0.56 with 500 shares changing hands, Proven Investments rose 0.95 cents to 17 US cents with 59,160 shares and Sygnus Credit Investments closed with 41,000 units trading with a loss of 1.48 cents at 11 US cents. The JSE USD Equities Index slipped 0.21 points to 146.69.
Trading resulted in an average of 106,370 units valued at an average of $2,728,403 compared to 164,411 units valued at an average of $3,497,504 for each security traded on Monday. The average volume and value for the month to date amounts 145,966 units valued at $2,917,169 compared to 148,084 units valued at $2,927,889 on Monday. June closed with an average of 250,168 shares with a value of $5,895,281, for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 12 stocks ended with bids higher than their last selling prices and 2 closing with lower offers.

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

1 stock rise 6 fall on TTSE – Tuesday

July 24, 2018 by

Trinidad & Tobago Stock Exchange Head Quarters

Trading on the Trinidad & Tobago Stock Exchange with 13 securities changing hands, similar to that on Monday, leading to just 1 security rising, 6 declining and 6 remaining unchanged on Tuesday.
Trading ended with 704,242 units valued $4,324,693 changing hands compared to 81,336 units valued $3,446,849 on Monday.
The Composite Index lost 2.77 points to 1,223.80, the All T&T Index shed 0.01 points to 1,719.97 and the Cross Listed Index fell 0.77 points to3close at 97.70.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows market sentiment with 2 stocks ending with higher bids than the last selling prices and 4 with lower offers.
Gains| Trinidad & Tobago NGL rose 2 cents and settled at $29.60, after exchanging 6,852 shares
Losses| Clico Investments fell 16 cents to end at $20.20, with 12,582 stock units changing hands, JMMB Group lost 1 cent and concluded trading at $1.84, after exchanging 1,096 shares, Massy Holdings shed 5 cents to end at $46.95, after exchanging 630 stock units, NCB Financial Group lost 10 cents and settled at $5.40, exchanging 523,853 shares, Republic Financial Holdings ended trading 1 cent lower at $102.80, trading 770 units and Sagicor Financial concluded trading with a loss of 5 cents and ended at $7.75, with 11,891 stock units changing hands.
Firm Trades| First Citizens settled at $34.92, after exchanging 2,180 shares, LJ Williams B Share closed at $0.69, exchanging 49,318 units, National Enterprises ended at $9.55, with 590 stock units changing hands, One Caribbean Media concluded at $12.10, after exchanging 44,000 stock units, Trinidad Cement concluded trading at $2.90, after exchanging 50,000 shares and West Indian Tobacco completed trading at $87 in exchanging 480 units.
Prices of securities trading for the day are those at which the last trade took place.

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