JSE main market falls back – Thursday

December 7, 2017 by

Investors chopped $1.65 off the price of NCB Financial on Thursday.

Trading on the Main Market of the Jamaica Stock Exchange closed on Thursday with 21 securities changing hands, compared to 25 on Wednesday but the market indices fell back with stocks rising edging out those that fell.
By the close the JSE All Jamaican Composite Index fell 954.19 points to 303,596.51 and the JSE Index declined by 869.38 points to 276,610.75 as the prices of 9 stocks advanced, 6 declined and 4 traded firm resulting in 714,979 units valued at $14,275,297 trading, compared to 9,894,407 units valued at $132,996,713 on Wednesday.
Trading ended with an average of 34,047 units for an average of $679,776 in contrast to 412,267 units for an average of $5,541,530 on Wednesday. The average volume and value for the month to date amounts to 230,246 units valued at $4,248,014 and previously, 227,449 units valued at $4,185,528. In contrast, November 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 in the main and the US dollar markets, 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.
Proven Investments US ordinary share was the sole trade in the US dollar market, with 8,125 units changing hands in closing 1 cent lower to 22 US cents, with the index slipping 1.77 points to 172.8 and JMMB Group 6% US preference share traded 1,210 units at $1.15.
The major movers at the close, are Berger Paints with a rise of $2.45, Grace Kennedy with a rise of $1, followed by a rise of $1.40, JMMB Group falling by $1 and NCB Financial, down $1.65.
For more details of market activities see report –  9 JSE stocks rise 6 fall – Thursday.

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

More gains in value for Jamaican$

December 7, 2017 by

The Jamaican dollar made further gains against the US dollar trading in trading in the Jamaica’s foreign currency market on Thursday with inflows rising over Wednesday’s intake and ending higher than outflows.
The local currency made gains against the Canadian dollar but fell against the British Pound and the Euro.
On Thursday, the rate the public bought the US dollar at, slipped to $125.81 as dealers sold US$38.83 million in US currency, compared US$43.18 million at an average rate of $125.91 on Wednesday. US currency purchases by dealers amounted to US$44.92 million on Thursday, at an average rate of $125, compared to Wednesday, with US$38.53 million at $124.73.
On Thursday at midday dealers purchased US$10.71 million at an average rate of J$125.15 and sold US$12.19 million at an average of J$125.79.
At mid-day on Wednesday dealers purchased US$15.85 million at an average rate of J$125.30 while they sold US$11.25 while they sold US$11.25 million at an average of J$125.91.
Dealers’ purchased US$50.94 million, versus US$44.15 million on Wednesday in all currencies in Jamaica’s Forex market and sold just US$43.20 million compared with US$47.42 million sold, previously.
The selling rate for the Canadian dollar fell to J$98.05 from J$98.72 at the close on Wednesday. The selling rate for the British Pound rose to J$168.51 versus J$168.42 previously and the euro gained value against the Jamaican dollar at J$150.17 to buy the European common currency, versus prior selling rate of J$149.65.

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

9 JSE stocks rise 6 fall – Thursday

December 7, 2017 by

Berger Paints price jumped $2.45 on Thursday

When trading closed on the Jamaica Stock Exchange on Thursday, the JSE All Jamaican Composite Index fell 954.19 points to 303,596.51 and the JSE Index declined by 869.38 points to 276,610.75 as the prices of 9 stocks advanced, 6 declined and 4 traded firm resulting in 714,979 units valued at $14,275,297 trading.
In the main market activity, Berger Paints jumped $2.45 higher to $17, with 2,243 shares, an indication that selling at lower levels is limited. Cable & Wireless settled with a loss of 2 cents at $1, with 19,950 shares, Carreras traded with a loss of 10 cents at $10.50, with 54,125 units, Grace Kennedy closed $1 higher at $43, with 24,781 shares, Jamaica Broilers ended 54 cents higher at $17.70, with 1,864 stock units. Jamaica Producers concluded trading 90 cents higher at $15.10, with 10,000 units, Jamaica Stock Exchange finished with a loss of 50 cents at $6.50, with 3,000 shares, JMMB Group settled with a loss of $1 at $24, with 48,960 shares, Kingston Wharves traded 20 cents higher at $32.70, with 11,539 units. NCB Financial Group closed with a loss of $1.65 at $92.25, as 66,022 shares traded, Portland JSX finished 20 cents higher at $8.50, with 1,929 shares, Pulse Investments settled 30 cents higher at $1.75, with 61,000 shares, Radio Jamaica ended trading at $1, with 2,316 stock units. Sagicor Group traded at $38, with 28,366 units, Sagicor Real Estate Fund finished trading at $14.50, with 10,279 shares, Salada Foods closed 69 cents higher at $9.50, with 60,000 shares, Scotia Group ended 20 cents higher at $53, with 18,587 stock units. Seprod finished at $30, with 25,000 shares and Supreme Ventures ended trading with a loss of 1 cent at $10, with 101,330 stock units. In the main market preference segment, Jamaica Money Market Brokers 7.5% preference share ended trading at $1.90, with 6,837 units and JMMB Group 7.5% preference share ended trading at $1.15, with 156,851 stock units.

Prices of securities trading for the day are those at which the last trade took place.
For more details of market activities see report “JSE main market falls back – Thursday.”

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

2 new highs 2 new lows on TTSE

December 7, 2017 by
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Scotiabank traded at a 52 weeks’ high on Thursday.

Falling stock prices, outpaced rising stocks more than 2 to 1, at the close of trading on the Trinidad & Tobago Stock Exchange on Wednesday. All three market indices declined, as two declining stocks shed large amounts, while 2 each traded at 52 weeks’ high and low.
Ansa McAL declined by $3.03, to close at a 52 weeks’ low of $60 with just 2,028 shares trading, Republic Financial Holdings also closed at a 52 weeks’ low after losing $1.50 to end at $100.50, with 252 units changing hands while Scotiabank advanced $1 to settle at a 52 weeks’ high of $61 with 1,500 shares and Trinidad & Tobago NGL gained $1.95 to close at a 52 weeks’ high of $27 trading 3,300 shares. Scotiabank’s move is reflective of a rise in profit before Taxation of 11 percent and 5 percent after an increase in corporation tax rate in that country. Earnings per share ended the year at $3.73 for a PE ratio of 16.35.

T&T NGL closed at a record high on TTSE on Thursday.

Market activity ended with 14 securities changing hands compared to 13 on Wednesday leading to 3 stocks advancing, 7 declining and 4 holding firm.
A total of 221,067 shares traded at a value of $3,013,733 compared to Wednesday’s trades of 482,160 valued at $15,366,284.
The Composite Index declined by 6.28 points to 1,274.03, the All T&T Index lost 10.08 points to 1,743.57 and the Cross Listed Index was down 0.33 points to close at 108.44.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 4 stocks with bids higher than last selling prices and 5 with lower offers.
Gains| The other stock that gained is Clico Investment with a rise of 29 cents, in closing at $20.79 with 71,572 shares valued at $1,486,816.
Losses| Securities declining based on the last traded price are Grace Kennedy losing 4 cents in exchanging 25,000 shares to close at $2.96. JMMB Group closed at $1.88, with a loss of 2 cents trading 1,754 shares, Point Lisas fell 1 cent to $3.89 with 11,128 shares changing hands, Prestige Holdings ended with a loss of 5 cents, at $10.70 with 1,000 units, and Sagicor Financial traded 4 cents lower to $7.91 with 73,828 shares valued at $584,108.
Firm Trades| The last traded prices of securities closing with unchanged prices are Massy Holdings in exchanging 1,484 shares at $49, One Caribbean Media ending at $14 with 23,361 shares valued at $369,054, Trinidad Cementthat traded 650 units at $3.95 while Unilever Caribbean remained at $34 with 1,210 shares trading.

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

18.9% of applications for FosRich to public

December 7, 2017 by

The general public in the FosRich Company Initial Public Offering shares have been allocated 5,000 with the balance in excess of 5,000 units to be allocated at approximately 12.70 percent or around 19 percent of all the shares they applied for.
According to Stocks and Securities Limited (“SSL”), lead broker to the issue, 1,084 applications with a total value of J$140,103,400 were received from the general public. The issue had just over 10 million shares slated initially for the public. Company Reserved Shares that was initially allocated took up 82 percent of their allotment hence the rest went into the pool for the public.
Overall SSL received a total of 1,165 applications totaling J$324.2 million. The Company’s offered 100,455,111 shares to raise J$200,910,222. SSL and Key Partners received the full allotments. The Company will endeavor to return cheques or make refunds via RTGS to applicants whose applications were not accepted, or whose applications were only accepted in part, within 10 working days of the Closing Date, December 4.
The original allocation of the issue was as follows: The general public just 10,070,111 units, Stocks and Securities, 50 million units and key partners and staff 40,385,000 units.

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

Virtually flat profits at Scotia Group

December 7, 2017 by

Scotia Group head quarters in Kingston.

Profit after tax rose just 7.7 percent at Scotia Group for the year to October, resulting in $12.17 billion attributable to the Group’s shareholders. For the October quarter profit rose to $3.36 billion from $3.1 billion in 2016.
Net interest income grew by $1.27 billion to $26.64 billion for 2017 versus $25.38 billion in 2016, but a sharp climb in bad loan provisioning of $746 million, reduced the impact of the rise in net interest income. Other income grew by $1.6 billion for the year to $15 billion.
Operating Expenses amounted to $21.3 billion for the year, an increase of $595 million or 3 percent compared to prior year. Employees’ costs increased $212 million, while other operating expenses were up $159 million. Asset tax increased by $112 million or 12 percent to $1.1 billion. The productivity ratio moved from 53.38 percent last year to 51.09 percent.
Loans remained flat, year over year at $166.5 billion, according to the company, the performance in this area is “driven by an overall decline in our foreign currency portfolio. Our small business, residential mortgages and personal loans continue to show solid performance quarter over quarter and year over year.”
Deposits by the public, increased to $260.6 billion, from $248.4 billion in the previous year, but the increase is not being put to the best use with no growth in the loan portfolio.
Results for the October quarter does not shine any light to suggest that the slow growth period is behind them. With soft demand for loans, and decline in interest rates in the wider economy, Scotia faces a tough road for the next fiscal year, in this environment the focus is going to be on cost cutting. Already, all the express locations that they currently operate will be closed in early January, the acquisition of all the minority shares in Scotia Investments is yet another move to cut cost.
On the balance sheet, assets held for sale amounted to $664 million and most likely represents the assets of CrediScotia that was subsequently sold.

In Thursday’s trading on the Jamaica Stock Exchange the stock closed at $53 at a PE of 13.5 based on earnings per share of $3.93.

Filed Under: Company News, Company Results Tagged With: , , ,

Junior Market makes modest gains

December 7, 2017 by

At the close of market activities, on the Junior Market of the Jamaica Stock Exchange on Thursday, the prices of 9 securities advanced, 5 declined and 6 remained unchanged leading to a rise in the Junior Market Index by 21.05 points to 2,657.19.
Trading resulted in 21 securities changing hands, in an exchange of 846,648 units valued at $4,389,452 compared to 927,168 units valued at $4,146,036 from 16 securities, on Wednesday.
Trading ended with an average of 40,317 units for an average of $209,022 in contrast to 57,948 units for an average of $259,127 on Wednesday. The average volume and value for the month to date amounts to units 99,196 valued at $394,709 and previously 114,847 valued at $444,069. In contrast, November closed with average of 107,477 units valued at $545,989 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 3 stocks ending with bids higher than the last selling prices and 3 with lower offers.
At the close of the market, Access Financial closed at $32, with 700 shares, AMG Packaging ended 3 cents higher at $2.93, with 1,396 stock units, Caribbean Cream traded at $5.30, with 33,830 units, Caribbean Flavours finished trading at $11, with 900 shares, Caribbean Producers closed 10 cents higher at $4.10, with 11,223 shares. Consolidated Bakeries ended at $1.90, with 11,000 stock units, Dolphin Cove finished with a loss of $1 at $17, with 3,000 shares trading, Eppley settled at $10, with 340 shares, Express Catering ended trading 5 cents higher at $4.05, with 5,000 stock units. General Accident traded with a loss of 25 cents at $2.50, with 10,227 units, Jetcon Corporation finished 5 cents higher at $4.40, with 25,000 shares, Knutsford Express traded at $14.80, with 49,465 units, Lasco Distributors finished trading 21 cents higher at $4.20, with 336,229 shares. Lasco Financial closed with a loss of 25 cents at $4.65, with 206,042 shares, Lasco Manufacturing ended 20 cents higher at $3.70, with 18,900 stock units, Main Event concluded trading with a loss of 57 cents at $5.09, with 3,083 units, Medical Disposables finished 10 cents higher at $5.05, with 14,200 shares. Paramount Trading settled with a gain of 7 cents at $3.07, with 3,000 shares, Stationery and Office ended trading with a loss of 20 cents at $4.80, with 70,194 stock units, tTech finished trading 50 cents higher at $6, with 27,919 shares and in the junior market preference segment, Eppley 8.25% ended with a loss of 50 cents at a 52 weeks’ low of $5.50, with 15,000 stock units.
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: , , , , , , , , , , , , , , , , , , , , , ,

10 JSE stocks rise 7 fall – Wednesday

December 6, 2017 by

The prices of 10 securities advanced, 7 declined and 6 traded firm in trading on the Main Market of the Jamaica Stock Exchange on Wednesday as trading concluded with 24 securities trading, leading to 9,894,407 units valued at $132,996,713 changing hands.
At the close of market activities, the JSE All Jamaican Composite Index jumped 1,711.67 points to 304,550.70 and the JSE Index climbed 1,559.52 points to 277,480.13.
At the close of trading, Barita Investments concluded with just 145 units changing hands at $8, Cable & Wireless settled 3 cents higher at $1.02, with 54,429 shares, Caribbean Cement ended $1.85 higher at $31.85, with 11,349 stock units. Carreras fell 39 cents to $10.60, with 34,465 units, Grace Kennedy closed with a loss of $1 at $42, as 624,979 shares changed hands, Jamaica Broilers ended 15 cents higher at $17.16, with 1,270,187 stock units, Jamaica Producers concluded trading 20 cents higher at $14.20, with 459 units. Jamaica Stock Exchange finished 10 cents higher at $7, with 34,700 shares, JMMB Group settled at $25, with 11,454 shares, Mayberry Investments finished trading at $5, with 117,316 shares, NCB Financial Group closed $1.40 higher at $93.90, with 51,016 shares trading. 1834 Investments ended with a loss of 5 cents at $1.15, with 30,511 stock units, 138 Student Living closed at $6, with 2,900 shares, PanJam Investment concluded trading 50 cents higher at $42.50, with 4,808 units, Portland JSX finished with a loss of 20 cents at $8.30, with 9,200 shares, Pulse Investments settled with a loss of 5 cents at $1.45, with 200 shares, Radio Jamaica ended trading with a loss of 9 cents at $1, with 100,723 stock units. Sagicor Group traded at $38, with 23,114 units, Sagicor Real Estate Fund finished trading 20 cents higher at $14.50, with 18,752 shares, Scotia Group ended 30 cents higher at $52.80, with 16,186 stock units, Seprod concluded trading 50 cents higher at $30, with 200 units. Sterling Investments finished at $12, with 2,500 shares and Supreme Ventures settled with a loss of 49 cents at $10.01, with 7,426,588 shares. In the main market preference segment, Jamaica Money Market Brokers 7.5% preference share ended trading at $1.90, with 48,226 stock units 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 report “JSE main market in big jump – Wednesday.” 

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

Junior Market plunged 69.01 points

December 6, 2017 by

Lasco Distributors traded at a 52 weeks’ low to help contribute to the big market fall.

The Junior Market Index plunged 69.01 points to close at 2,636.14 on Wednesday with the prices of 7 securities dropping, 4 rising and 5 remaining unchanged as Access Finance dropped $8.30, ISP Finance falling $4 and Lasco Distributors trading at a 52 weeks’ low.
Trading on the Junior Market closed with 16 securities changing hands, resulting in an exchange of 927,168 units valued at $4,146,036 compared to 1,241,227 units valued at $6,030,201, from 17 securities on Tuesday.
Trading ended with an average of 57,948 units for an average of $259,127 in contrast to 73,013 units for an average of $354,718 on Tuesday. The average volume and value for the month to date amounts to units 114,847 valued at $444,069 and previously 129,298 valued at $491,038. In contrast, November closed with average of 107,477 units valued at $545,989 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 bids higher than the last selling prices and 3 with lower offers.
At the close of the market, Access Financial closed with a loss of $8.30 at $32, with 2,503 shares, CAC 2000 settled with a loss of 20 cents at $6, trading 500 shares, Caribbean Producers closed with a loss of 7 cents at $4, with 60,667 shares, Express Catering ended trading at $4, with 82,125 stock units, General Accident traded 5 cents higher at $2.75, with 89,060 units. Honey Bun finished trading 5 cents higher at $3.90, with 200 shares, ISP Finance dropped $4 to close at $11, with 1,000 stock units, Jamaican Teas concluded trading 30 cents higher at $4, with 11,100 units, Jetcon Corporation finished with a rise of 5 cents at $4.35, with 700 shares. Lasco Distributors finished trading with a loss of 41 cents to end at a 52 weeks’ closing low of $3.99, with 217,007 shares changing hands, after it traded at an intraday low of $3.77, Lasco Financial closed at $4.90, with 9,895 shares, Lasco Manufacturing ended at $3.50, with 5,200 stock units, Main Event concluded trading with a loss of 34 cents at $5.66, with 9,961 units. Medical Disposables finished at $4.95, with 204,000 shares, Paramount Trading settled with a loss of 9 cents at $3, with 100 shares and Stationery and Office ended trading at $5, with 233,150 stock 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: , , , , , , , , , , , , , , , , , ,

Massy Holdings dominates TTSE

December 6, 2017 by

Massy traded 90% of the value of stocks trading on Wednesday.

Massy Holdings traded $13.9 million worth of shares, dominating trading with 90 percent of the value of the securities exchanged on the Trinidad & Tobago Stock Exchange at close on Wednesday, with 13 securities changing hands, the same as on Tuesday.
At the close, the price of 1 stock advanced, 4 declined and 8 remained unchanged as 482,160 shares traded at a value of $15,366,284 compared to Tuesday’s trades of 1,117,124 valued at $6,876,070.
The Composite Index lost 0.16 points to 1,280.31, the All T&T Index gained 1.73 points to 1,753.65 and the Cross Listed Index was down 0.28 points to close at 108.77.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 5 stocks with bids higher than last selling prices and 6 with lower offers.
Gains| The sole security with a rise in price is Massy Holdings with a gain of 5 cents, in closing at $49 trading 283,195 shares valued at $13,876,555.
Losses| The securities declining at the close on Wednesday are, Clico Investment declined by 30 cents to settle at $20.50, with 10,925 shares changing hands, JMMB Group closed 8 cents lower to $1.90, with 43,461 shares exchanged, Point Lisas lost 4 cents, ending at $3.90 with 3,000 shares and Scotiabank lost 1 cent and closed at $60 with 7,261 shares valued at $435,694 trading.
Firm Trades| Securities trading unchanged at the close based on the last traded price are, Angostura Holdings with 2,700 shares, closed at $15.05, First Citizens held firm at $32.01 with 1,189 shares, Grace Kennedy remained at $3 with 4,970 shares trading. National Flour Mills closed at $1.90 with 1,900 shares changing hands, One Caribbean Media exchanged 500 units at $14, Sagicor Financial traded 8,989 shares at $7.95, Trinidad Cement exchanged 109,000 shares at $3.95 valued at $430,553 and Trinidad & Tobago NGL held firm at $25.05 with 5,070 shares changing hands.

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