The market closed on Monday with 23 securities changing hands, up from 21 on Friday, resulting in an exchange of 1,526,211 units valued at $4,615,508, compared to 5,241,602 units valued at $19,221,963, on Friday.
The Junior Market index fell 11.94 points to close at 2,916.34 as the prices of 8 securities advanced, 9 declined and 6 remained unchanged.
Trading ended with an average of 66,357 units for an average of $200,674 compared to an average of 249,600 units for an average of $915,332 on Friday. An average of 274,310 units at an average value of $1,538,475 traded, and previously 288,936 units at an average value of $1,632,571. In contrast, January closed with an average of 122,386 shares, valued at $489,704 for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 4 stocks ending with the bid higher than the last selling price and 3 with lower offers.
At the close of the market, AMG Packaging ended with a loss of 1 cent at $2.44, with 3,500 stock units, Caribbean Cream ended trading with a loss of $1.32to $6.20, with 7,900 shares, Caribbean Flavours traded 1 cent higher at $10.90, with 9,725 stock units, Caribbean Producers finished trading with a loss of 40 cents at $4, with 12,490 units, Consolidated Bakeries closed 12 cents higher at $1.90, with 8,059 shares. Derrimon Trading concluded trading with a loss of 15 cents at $7, with 1,707 shares, Elite Diagnostic settled with a loss of 23 cents at $2.67, with 1,231,455 units, Express Catering traded with a loss of 40 cents at $4.30, with 17,778 shares, FosRich Group finished trading at $2.70, with 103,300 shares. General Accident closed at $2.80, with 6,012 stock units, GWest Corporation ended 10 cents higher at $2.60, with 12,653 units, Honey Bun concluded trading 2 cents higher at $5.15, with 500 shares, Iron Rock finished at $3, with 10,000 shares.
ISP Finance settled $1.05 higher at $11.05, with 2,500 shares, Jamaican Teas ended trading with a loss of 3 cents at $4.75, with 12,045 stock units, Jetcon Corporation traded at $4.60, with 11,050 units, Knutsford Express ended at $15, with 1,627 shares. Lasco Distributors concluded trading 3 cents higher at $4.40, with 19,647 stock units, Lasco Financial finished with a loss of 15 cents at $4.85, with 24,372 units, Lasco Manufacturing settled at $4.43, with 6,000 shares, Main Event ended trading 3 cents higher at $6.03, with 3,000 shares, Stationery and Office closed 2 cents higher at $5.02, with 18,059 units and tTech concluded trading with a loss of 40 cents at $5, with 2,832 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.
Junior Market volume slides – Monday
JSE main market lost ground again – Monday
NCB lost ground following the lapsing of the offer to acquire majority shares in Guardian Holdings.
The Main Market of the Jamaica Stock Exchange closed down on for the second time in two days on Monday, with JSE All Jamaican Composite Index dropping 296.85 points to 318,961.81 and the JSE Index falling 270.46 points to 290,610.27.
Trading on Monday closed 28 securities changing hands with 8 advancing, 14 declining and 6 trading firm in the main and US dollar markets.
The securities with the largest price changes include, Caribbean Cement with a gain of $1.45 to $33 and NCB Financial that traded with a loss of $1.02 to end at $98.97 after the acquisition deal to buy up to 62 percent of Guardian Holding was cancelled due to investigations into the deal being carried out by the securities commission of Trinidad.
Main market activity ended with 9,756,068 units valued at over $152,399,537 compared to 4,322,228 units valued at $69,892,327 on Monday. Sagicor Group accounted for 19.6 percent of shares traded with 1,912,055 units, followed by Jamaica Producers 17.9 percent with 1,748,275 units and Ciboney Group with 12.3 percent and ending trading with 1,199,900 shares.
Trading results in an average of 348,431 shares valued at $5,442,841 for each security traded, in contrast to 160,083 shares valued at $2,588,605 on Friday. The average volume and value for the month to date amounts to 213,111 units valued at $3,322,294 and previously, 204,802 units valued at $3,183,567. In contrast, January closed with average of 349,084 units at an average of $5,801,440 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 7 stocks ended with bids higher than their last selling prices and 4 with lower offers.
There was no trading in the US dollar market.
For more details of market activities see – JSE trading jumps higher on Monday.
J$ falls against US$ to start week
The selling rate of US dollar rose against the Jamaican dollar 24 cents on Monday, with the rate dealers bought US dollar at rising by 59 cents from the closing rate at the close of the previous week as supplies fell below demand.
On Monday, Inflows of all currencies, totaled US$42.93 million, versus US$33.35 million on Friday with the selling of US$44.41 million in contrast to US$31.73 million previously.
In US dollar trading, dealers sold US$43.35 million at an average of $127.68 at the close, compared to US$27.92 million at an average of $127.44 on Friday. Purchases of the US currency by dealers, amounted to US$40.56 million at an average of $126.06 at the close, compared US$28.22 million at an average of $125.47.
At mid-day on Monday dealers purchased US$20.98 million at an average rate of J$126.30 and sold US$19.35 million at an average of J$127.67. On Friday at midday dealers purchased US$12.12 million at an average rate of J$126.16 and sold US$9.16 million at an average of J$127.53.
The selling rate on Monday, for the Canadian dollar fell to J$98.58 from J$98.59 at the close on Friday, the selling rate for the British Pound slipped to J$175.67 from J$177.86 previously and the euro declined in value against the Jamaican dollar at J$154.74 to buy the European common currency, versus the prior selling rate of J$159.60.
TTSE suffers fall in indices – Monday
Guardian Group fell 50 cents as NCB Financial offer to buy up 62% of the Insurance group lapses.
Market activity on the Trinidad & Tobago Stock Exchange ended on Monday with trading in 12 securities against 17 on Friday, The market closed with 1 stock rising, 2 declining and 9 remaining unchanged.
At close of the market the, Composite Index shed 1.24 points on Monday to 1,267.47, the All T&T Indexfell 2.15 points to 1,699.42, while the Cross Listed Index declined 0.04 points lower to close at 112.74.
Trading ended with 283,184 shares at a value of $14,736,676, compared to 1,126,271 shares at a value of $14,736,676.
IC bid-offer Indicator| IC bid-offer Indicator|At the end of trading, on Friday, the Investor’s Choice bid-offer indicator reading shows 6 stocks with bids lower than their last selling prices and 4 with lower offers.
Gains| Trinidad & Tobago NGL rose 2 cents and ended at $27.12, trading 12,050 shares.
Losses| Guardian Holdings shares fell 50 cents in concluding trading at $16.50, with 409 shares as the NCB Financial offer to buy majority shares in the group lapsed and One Caribbean Media closed with a loss of 2 cents at $12.48, after 250 stock units changed hands.
Firm Traded| Clico Investments settled at $20, with 12,755 units, First Caribbean International Bank concluded trading at $9.30, with 62,574 shares changing hands, First Citizens ended at $32.11, exchanging 3,363 shares, Grace Kennedy settled at $3.35, with 15,000 units, LJ Williams A share closed at 22 cents, trading 10,273 shares. Massy Holdings ended at $47.30, with 3,390 stock units changing hands. National Enterprises settled at $9.65, with 179 units, NCB Financial Group ended at $6.53, trading 168,678 shares, Republic Financial Holdings completed trading at $101.52, with 150 stock units changing hands and Scotiabank concluded market activity at $61.76, trading 4,386 shares.
Prices of securities trading for the day are those at which the last trade took place.
Jamaican Teas exports sales up 66%
Jamaican Teas CEO, John Mahfood addressing the company’s last AGM in 2017.
Export sales at Jamaican Teas grew a very strong 66 percent for the December quarter while domestic manufacturing sales increased by 15 percent. Overall sales at increased 22 percent to $456 million the quarter.
Revenues from our manufacturing operations grew 40 percent in the period while supermarket sales increased by 9 percent. Profit after tax rose 9 percent to $51 million, reflecting better performance from core operations and resulted in earnings per share of 7.6 cents.
A release accompanying the results by the company, stated that, “importantly, the trend in sales continued into the second quarter and are meeting the Company’s expectations. Our investment portfolio continued to increase in value over the December levels.”
Gross profit margin increased from 23 percent to 24 percent in the quarter over 2016. Other income was down by 59 percent, falling from $17 million to $7 million. The 2016 results benefited from greater contributions from realized investment and foreign exchange gains than in the latest quarter. In this regard realized investment gains during the quarter was $6 million compared with $12 million in the same period a year ago.
Marketing and sales cost rose 16 percent to $9.6 million, administrative cost rose 34 percent to $43 million, reflecting added associated with the KIW acquisition, but finance cost fell 51 percent to $4.6 million.
The company said that “with the acquisition of KIW International and the reinvestment of the proceeds of sale from the property formerly owned by the company, quoted investments at the end of the quarter totaled $319 million.” It could have a major impact on profits, if the local stock market continues to record gains for the year.
The financial position improved over 2016 with equity capital of $1.1 billion, net current assets of $549 million and long term loan of $193 million.
The stock last traded at $4.78 on the Junior Market of the Jamaica Stock Exchange.
John Jackson is a directors of the company.
tTech, LasFin & Blue Power in TOP 10
The Junior Market is up 7.5 percent for the year to date, helped considerably by three new listings since late December and recovery in the prices of three Lasco companies and a few others.
Investors pushed Treasury bill rates sharply down by 22 percent from 4.63 in December to 3.593 percent in February, while the central bank cut their overnight rates in sympathy to 2.75 percent. On the other hand profit results of companies have been mixed with some showing strong gains and others no so strong. So far stocks prices have yet to move to factor in the lower interest rates.
One company that had good 2017 results was ISP Finance but increased bad debt provisioning curtailed the growth in profits to just one percent after tax, but 20 percent ahead of the net 2016 profits with a 25 percent rise in revenues. The results for 2017 resulted in earnings per share being reduced to $1.20 for 2018 and with a rise in the stock price to $11.05 it is no longer in the TOP stocks. Also going out are, Access Financial and Paramount Trading. Access earnings have been reduced following their third quarter 2017 results.
Entering the TOP 10 Junior Market list are tTech, Lasco Financial and Blue Power. While Lasco Financial had lower profit in the December 2017 quarter than in 2016 that was due to added cost associated with the acquisition of Credi Scotia. The company will see a big jump in profit as a result of the acquisition. tTech is said to be seeing strong growth in clientele following a few years of soliciting new clients business. 
General Accident had a temporary setback in profit in 2017 due to a major claim but rising premium income margin should help boost profit in 2018 barring any major catastrophic claims. Key Insurance despite incurring cost associated with staff separation amounting to close to $50 million reported improved results for 2017 over 2016 and should go on to record the highest levels of profit in 2018 with expected better margin on insurance underwriting barring any unusually large claims. Stationery and Office had a record 2018 performance and is expected to show improve results in 2018 that will move the price upwards.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 6.3 compared to an average PE for the overall main market is 10 based on 2018 estimated earnings.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 39 percent to the average for the Junior Market Top stocks but its less than 50 percent of what the average PE for the year is likely to be, of 15 to 20 times earnings.
JSE main market fell on Friday
The Main Market of the Jamaica Stock Exchange closed down on Friday, with JSE All Jamaican Composite Index falling 776.18 points to 319,258.66 and the JSE Index declining by 707.19 points to 290,880.73.
Trading on Friday closed 28 securities changing hands with 10 advancing, 10 declining and 8 trading firm in the main and US dollar markets.
The securities with the largest price changes include, Caribbean Cement with a fall of $1.45 to $31.55, Grace Kennedy with a loss of $1.20 to $43, Salada Foods climbing $1 to $12, Scotia Group that rose by $1.50 to $53.50 and Seprod losing 94 cents to end at $29.05.
Main market activity ended with 4,322,228 units valued at $69,892,327 in contrast to 2,690,310 shares valued at $52,093,635 on Thursday. Ciboney Group accounted for 1,385,481 units and 32 percent of total volume traded, followed by Jamaica Broilers Group accounting for 21 percent of volume traded with 904,680 units changing hands and Sagicor Group with 293,843 units or 6.8 percent.
Trading results in an average of 160,083 shares valued at $2,588,605 for each security traded, in contrast to 92,769 shares valued at $1,796,332 on Thursday. The average volume and value for the month to date amounts to 204,802 units valued at $3,183,567 and previously, 207,617 units valued at $3,223,626. In contrast, January closed with average of 349,084 units at an average of $5,801,440 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 10 stocks ended with bids higher than their last selling prices and 2 with lower offers.
Traded in the US dollar market ended with Proven Investments trading 667,350 shares at 21.99 US cents with a value of US$146,425 as the market index rose 1.03 points to 168.18.
For more details of market activities see – JSE trading picks up on Friday.
JSE trading picks up on Friday
Main Market activity on the Jamaica Stock Exchange picked up modestly, and ended with 4,322,228 units valued at over $69,892,327 changing hands versus 2,690,310 shares valued at $52,093,635 Thursday.
Main Market of the Jamaica Stock Exchange Market activity ended with 27 securities traded ending with 9 securities rising, 10 falling, 8 trading firm, leading to market indices suffering a fall. The JSE All Jamaican Composite Index fell by 776.18 points to 319,258.66 and the JSE Index lost 707.19 points to close at 290,880.73.
In the main market activity, Barita Investments closed at $8, with 5,000 shares, Berger Paints ended 20 cents higher at $17.25, with 13,290 stock units, Cable & Wireless concluded trading at $1.25, with 61,100 units, Caribbean Cement finished with a loss of $1.45 at $31.55, with 2,242 shares, Carreras closed $10.95, with 214,710 shares changing hands, Ciboney Group settled with a loss of 2 cents at a 52 weeks’ low of 10 cents, with 1,385,481 shares traded. Grace Kennedy ended trading with a loss of $1.20 at $43, with 202,384 shares, Jamaica Broilers traded 48 cents higher at $18.55, with 904,680 stock units, Jamaica Producers gained 15 cents to end at $15.15, with 40,000 units, Jamaica Stock Exchange closed 30 cents higher at $7, with 7,400 shares. JMMB Group ended with a loss of 40 cents at $24.60, with 34,724 shares, Kingston Wharves finished at $42.60, with 5,344 stock units, Mayberry Investments settled with a loss of 5 cents at $4.75, with 12,598 units, NCB Financial Group ended trading 9 cents higher at $99.99, with 92,031 shares. PanJam Investment closed at $40.75, with 48,178 stock units, Portland JSX ended 22 cents higher at $10.22, with 800 units, Radio Jamaica finished at $1.05, with 109,000 shares traded, Sagicor Group settled with a loss of 45 cents at $36.55, with 293,843 stock units. 
Sagicor Real Estate Fund settled with a loss of 40 cents at $14.50, with 29,285 shares, Salada Foods ended trading $1 higher at $12, with 5,000 stock units, Scotia Group traded $1.50 higher at $53.50, with 216,374 units, Seprod finished trading with a loss of 94 cents at $29.05, with 81,403 shares, Sterling Investments closed at $13, with 300 shares. Supreme Ventures ended 10 cents higher at $11.90, with 19,328 shares, Victoria Mutual Investments concluded trading with a loss of 1 cent at $4.39, with 188,796 stock units, Wisynco Group fell 10 cents to settle at $10.40, with 198,937 units and in the main market preference segment, JMMB Group 7.5% ended at $1.02, with 150,000 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “JSE main market fell on Friday.”
FX trading falls for the week
The selling rate of Jamaican dollar fell 42 cents in value against the United States dollar for the week ending Friday, but the rate dealers bought US dollar fell 30 cents from the closing rate of the previous week.
For the week, dealers traded less foreign currency that in the prior week. They purchased US$174 million in all currencies, down from US$185 million in the previous week and sold US$156 million, down from US$167 million sold in the prior week. Actual US dollar purchases amounted to US$155 million down from US$171 million in the prior week and sold US$144 compared to US$159 million.
On Friday, Inflows of all currencies, totaled US$33.35 million, versus US$37.13 million on Thursday with the selling of US$31.73 million in contrast to US$28.47 million previously.
In US dollar trading, dealers sold US$27.92 million at an average of $127.44 at the close, compared to US$26.17 million at an average of $127.14 on Thursday.
Purchases of the US currency by dealers, amounted to US$28.22 million at an average of $125.47 at the close, compared US$32.54 million at an average of $125.83.
At mid-day on Friday dealers purchased US$12.12 million at an average rate of J$126.16 and sold US$9.16 million at an average of J$127.53. On Thursday at midday dealers purchased US$9.03 million at an average rate of J$125.88 and sold US$6.97 million at an average of J$126.69.
The selling rate on Friday, for the Canadian dollar fell to J$98.59 from J$99.45 at the close on Thursday, the selling rate for the British Pound rose to J$177.86 from J$176.63 previously and the euro jumped in value against the Jamaican dollar at J$159.60 to buy the European common currency, versus the prior selling rate of J$153.88.
Elite Diagnostics grabs 77% of trades
Recently listed Elite Diagnostics dominated trading on Junior Market on Friday with 4 million shares, or 77 percent of trading, with no trade exceeding 172,000 units.
On Thursday the Elite accounted for just over 84 percent of volume of stocks trading, resulting in 6,672,725 units, up from 2,520,373 shares that were exchanged on Wednesday.
The market closed on Friday with 21 securities changing hands, up from 18 on Thursday, resulting in an exchange of 5,241,602 units valued at $19,221,963, compared to 7,902,138 units valued at $25,165,370 on the prior trading day.
The Junior Market index advanced 12.59 points to close at 2,928.28 as the prices of 7 securities advanced, 7 declined and 7 remained unchanged.
Trading ended with an average of 249,600 units for an average of $915,332 compared to an average of 439,008 units for an average of $1,398,076 on Thursday. An average of 288,936 units at an average value of $1,632,571 traded, and previously 291,636 units at an average value of $1,681,793. 
In contrast, January closed with an average of 122,386 shares, valued at $489,704 for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 8 stocks ending with the bid higher than the last selling price and 1 with a lower offer.
At the close of the market, AMG Packaging ended 40 cents higher at $2.45, with 20,000 stock units, Blue Power concluded trading at $34.87, with 910 units, CAC 2000 finished at $9, with 7,000 shares, Caribbean Cream ended trading $1.53 higher at $7.52, with 296,348 shares, Caribbean Producers finished trading 10 cents higher at $4.40, with 70,595 units. C2W Music ended with a loss of 6 cents at $0.45, with 58,350 shares, Dolphin Cove finished 15 cents higher at $17, with 100,200 stock units, Elite Diagnostic settled with a loss of 11 cents at $2.90, with 4,055,011 units, 
Eppley ended trading with a loss of 40 cents at $10.10, with 100 shares. FosRich Group finished trading 10 cents higher at $2.70, with 12,000 shares, General Accident closed with a loss of 5 cents at $2.80, with 61,920 stock units, Iron Rock finished at $3, with 111,500 shares, Jamaican Teas ended trading 28 cents higher at $4.78, with 9,700 stock units. Jetcon Corporation traded at $4.60, with 67,077 units, Lasco Distributors concluded trading with a loss of 3 cents at $4.37, with 31,891 stock units, Lasco Financial finished at $5, with 104,930 units, Lasco Manufacturing settled at $4.43, with 2,783 shares. Main Event ended trading at $6, with 5,067 shares, Medical Disposables fell 15 cents to $4.85, with 16,950 shares, Stationery and Office closed with a loss of 6 cents at $5, with 24,091 units and tTech concluded trading 40 cents higher at $5.40, with 185,179 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.
