Stock split who is next?

Paramount with the stock priced at $17.50 with virtually no supply seems a candidate for a stock split.

Paramount with the stock priced at $17.50 with virtually no supply seems a candidate for a stock split.

Companies on the Jamaican Stock Exchange have either announced or effected stock splits or bonuses this year, to loud applause by investors who have driven the stocks sharply upwards in response to the news.
The first to do so was Jamaican Teas with the price doubling after the announced split. Honey Bun followed with the price climbing sharply after the announcement as well as after the split. RJR did both a split and a bonus. GraceKennedy and Pan Jamaican that have seen their stock struggling for a long time at very low levels, finally getting the lift with the announcement of a stock split. Jamaica Producers effected a bonus with a similar price movement. Cargo Handlers and Jamaica Stock Exchange announced stock splits and the investors immediately responded positively to them by driving the prices up. If the trend seen with other splits holds, the prices of the stocks of the latest announcements will rise further after the split takes place.
Stock bonuses were a regular feature of the market for years until the government removed the tax incentive for them. Only the three Lasco companies split their stocks to create greater liquidity in 2014. With mostly 20 percent of junior market companies’ shares in the wider public’s hands and with some of the twenty percent closely held, supply is not always easy to come by. Splitting the stock encourages increased valuation of the companies and allows for some to be sold to the wider market, thus increasing liquidity.

Palace Amusement with a price tag of $170 and virtually no supply should be a prime candidate of a split.

Palace Amusement with a price tag of $170 and virtually no supply should be a prime candidate for a split.

There are more stock splits to come, so who are the likely candidates. One would expect that Eppley, with a $735 price tag and very limited trading activity, would be a good candidate and so would Palace, with a price of $170. Based on what has happened in the past don’t count on these two to take such action anytime soon, but the directors of these companies are going to be pressured into making a move. Management who are conscious of the valuation the market places on the stock would do the things that would boost investors’ confidence in the stock. With limited liquidity, the companies are losing out on one of the most important benefits of listing which is the constant publicity garnered from having the company’s name repeated publicly daily.
Other candidates ripe for a split include Paramount Trading, a stock that has limited supply, the company is yet to announce its annual general meeting and that seems a very good time for it to be approved. Blue Power now priced at $21 with very little supply is a prime stock for such action. Others that could well do it are Access Financial Services,

AMG Packaging with a new chairman who is stock market friendly could deliver a split sooner than later.

AMG Packaging with a new chairman who is stock market friendly could deliver a split sooner than later.

AMG Packaging with a change in chairmanship who is a stock market follower should land a split sooner than later and Knutsford Express in the junior market.
There appear to be few main market stocks that need to consider one but National Commercial Bank with the price struggling around $40 with good results could well do one to increase investors’ interest and so could Scotia Group and of course Montego Ice.
If stock splits are so popular in Jamaica, why is it not being used in Trinidad that only has limited trading taking place daily. Management is depriving their company of maximum exposure for the cost of listing and preventing their shareholders from enjoying a more liquid market in which to trade.

JSE stocks make strong gains – Tuesday

$85 million of NCB's shares traded on Tuesday

$85 million of NCB’s shares traded on Tuesday

Stocks mostly rose on the Jamaica Stock Exchange on Tuesday, with a slight deterioration compared to Monday, in the number of advancing stocks versus declining ones. The market indices climbed sharply but with much less volumes passing through the market on Monday.
At the close of the market, prices of 16 securities gained out of a total of 40 trading, while 13 declined in the overall market, including 5 stocks rising and 6 falling, in the junior market.
At the close, 7,614,266 units valued at $192,616,632, changed hands, compared to the 12,416,676 units valued at $159,207,495 changing hands on Monday. The junior market accounted for 907,063 units valued at $3,876,442 of the total traded on Tuesday. Carreras accounted for $66,047,705 and National Commercial Bank $85,057,375 of the value of stocks traded amounting to 78 percent of all trades.
The market index ended with good gains, with the JSE Market Index climbing 1,241.23 points to end at 161,382.31. ICI JSE sum 20-09-16The all Jamaica Composite Index jumped 1,388.13 points to close at 179,316.17 and the JSE combined index surged 1,067.23 points, to end at 173,477.14.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 15 stocks with bids higher than their last selling prices and 7 with lower offers.
In market activity, Barita Investments gained 25 cents to close at $3.50 on Monday and seems set to rise further with the bid at $3.75 to buy 40,00 units, the stock is on offer at $4 to sell 47,767 shares at the close. Cable & Wireless continues to garner support in the mid 90 cents region and seems to be heading back over $1, but it shed 1 cent and closed at 94 cents, with 381,613 units changing hands, Caribbean Cement lost 60 cents, to close at $26 with 456,774 units changing hands. Carreras closed at $65.50 with 1,016,110 units trading, slightly less than the 1,137,767 shares traded on Monday, Grace Kennedy lost 1 cent, with 104,303 shares changing hands at $42.49, Jamaica Broilers had 88,541 shares changing hands and gained 45 cents to end at $15. Jamaica Producers ended with a loss of 20 cents to close at $8.30 with 175,143 units trading, Jamaica Stock Exchange fell 10 cents to end at $27.40 while trading 5,623 shares, JMMB Group traded 3,579 units and rose 18 cents to $9.99. Kingston Wharves traded 10,455 shares to close at $17, after falling 50 cents, ICI JSE fn qt 20-09-16 National Commercial Bank traded 2,083,020 shares and closed at $41. The price of 138 Student Living remained unchanged at $4.70, after 158,000 units changed hands, Pan Jamaican Investments gained 45 cents and closed at $23.95 after trading 7,185 shares.Portland JSX ended with 12,000 units trading at $11.39, Sagicor Group traded 103,169 shares and gained 21 cents to close at $23.02, Sagicor Real Estate Fund traded 21,100 shares to close with at $10.20. Scotia Group gained 49 cents to close at $30.50 with 7,349 shares changing hands, Scotia Investments had 133,013 units changing hands at $26.10, for a gain of 1 cent, Seprod fell by 50 cents to close at $21 with 2,724 shares trading, Sterling Investments gained 88 cents to close at a new high of $15 with 5,098 units changing hands, Supreme Ventures rose 20 cents to close at $4.90 with 1,874,873 units changing hands and Proven Investments closed at 19.99 US cents with 49,700 units trading.

Trading picks up on TTSE – Tuesday

Republic Financial Holdings jumped sharply in Friday's trading

Republic Financial Holdings jumped sharply in Friday’s trading

Trading activity picked up on the Trinidad and Tobago stock market and closed on Tuesday with marginal movements in the main market indices as 4 stocks gained, one fell and 9 remained unchanged as 14 securities traded.
Market activity resulted in 271,952 shares valued at $3,116,881 changing hands, well above the 28,668 units valued at $302,443 that traded on Monday.
The Composite Index inched up 0.02 points to close at 1,153.94, the All T&T Index fell 0.09 points to close at 1,812.77 and the Cross Listed Index ended 0.02 points higher at 65.92 points.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 6 stocks with bids higher than their last selling prices and 2 with offers that were lower.
Gains| Ansa Merchant Bank traded 11,256 units to end at $40.02, with gain of 1 cent, Point Lisas closed with 5,000 shares trading and rose 9 cents to $3.60. Prestige Holdings with 5,077 units changing hands, ended at $10.90 to record a gain of 7 cents and Scotia Investments contributed 137,000 shares and rose 2 cents to close at $1.75,
Losses| Republic Financial Holdings dropped $4 to close at $110 with 181 shares changing hands.
TTSE sum 20-9-16r Firm Trades| Ansa McAl traded 20,000 units to close at $62.70, Clico Investment Fund traded 1,500 units at $22.60, First Citizens Bank traded 2,639 shares to end at $35, Guardian Holdings ended with 5,233 shares changing hands at $12.80, JMMB Group ended with 62,308 shares changing hands at 61 cents. National Enterprises closed with 11,968 shares changing hands at $10, Scotiabank closed with 2,000 shares changing hands to end at $57.86, Trinidad and Tobago NGL closed at $23.52 with 3,630 units changing hands and West Indian Tobacco traded 4,160 shares to close at $126.75.

Mild losses for juniors – Tuesday

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Jetcon ended at a new closing high of $4.50 on Tuesday, with gains of 100% since listing in March.

Jetcon ended at a new closing high of $4.50 on Tuesday, with gains of 100% since listing in March.

The Junior market closed on Tuesday, with the market fell slightly with 5 stocks rising, while 6 declined out of 15 securities that traded. Trading volume and value changed moderately from Monday’s levels. The market index fell 8.18 points, to close at 2,318.01. Market activities ended with 7 securities closing with bids higher than their last selling prices and 4 ending with lower offers.
Trading ended with 907,063 units changing hands, 9 percent more than on Monday, while the value traded dropped just 5 percent, with $3,876,442, compared to $4,086,204 changing hands on Monday.
At the close, Cargo Handlers have not traded for a few days but today the stock closed with the bid at $89.01 with 100 units, nearly $3 ahead of the last sale price with 1,000 units offered for sale at $1,000.ICI Jm sum 20-09-16 As was the case on Monday, Key Insurance did not trade but seems set to trade at a new low when next it does with the offer at $2.37 to sell 152,290 units compared with the last sale of $2.49, there were no bids on the stock at the close.
Caribbean Cream gained 10 cents with 20,000 shares changing hands at of $9.10, Caribbean Flavours gained just 1 cent in closing at $8.01 with 4,749 shares changing hands, Caribbean Producers traded just 20,130 shares and lost 20 cents to close at $3.40. Consolidated Bakeries lost 1 cent to end at $2.42 with 26,559 units changing hands. General Accident closed trading with 348,954 units at $2.05, with a 15 cents loss, Honey Bun traded 800 units to end at $5.85, Jamaican Teas had 1,100 units changing hands at $4. Jetcon Corporation rose 35 cents in trading at new record high of $4.80, with 34,983 units changing hands but ended at new closing high of $4.50, to gain 100 percent, since listing in late March. ICI jm trade 20-09-16Knutsford Express lost 50 cents with 1,559 units changing hands to end at $24, Lasco Distributors closed with 76,469 units trading and ended with a gain of 14 cents at $7.04. Lasco Financial gained 15 cents with 1,165 shares changing hands to close at $3.25. Lasco Manufacturing lost 10 cents to close at $4.80 with 146,842 shares trading, tTech traded 46,953 shares and closed at $6, Derrimon Trading preference share gained 5 cents and ended with 500 units changing hands to close at $2.20 and Eppley 9.5% preference share, fell 20 cents in trading 176,300 shares, to end at $6.30.

All Jamaica Index up 1,039.11 points

ici Int -20-9-16

Low sink in TTSE trading – Monday

TTSE build Trading activity on the Trinidad and Tobago stock market closed on Monday with very modest volume and losses in two of the main market indices as no stock gained, one fell and 6 remained unchanged.
Market activity sank to just 28,668 shares valued at only $302,443 changing hands, well below the $4,238,930 traded on Friday.
The Composite Index declined 2.76 points to close at 1,153.92, the All T&T Index fell 5.50 points to close at 1,812.86 and the Cross Listed Index ended unchanged at 65.90 points.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 8 stocks with bids higher than their last selling prices and 4 with offers that were lower.
Gains| No stock recorded gains based on the last traded price in the market on Monday.
TTSE sum 19-9-16 Losses| National Enterprises lost 45 cents to close with 5,000 shares changing hands at $10.
Firm Trades| Ansa McAl traded 1,000 units to close at $62.70, Guardian Holdings ended with 12,022 shares changing hands at $12.80, Massy Holdings ended with 61 shares changing hands at $54.80, National Flour with 5,000 shares changing hands, closed at $2.50. Trinidad and Tobago NGL closed at $23.52 with 5,460 units changing hands and Trinidad Cement traded 125 shares to close at $3.12.

Rising JSE’s stocks doubled – Monday

Supreme Ventures traded the most shares on Monday with 6.9m units

Supreme Ventures traded the most shares on Monday with 6.9m units

Stocks mostly rose on Monday with the number doubling the gains on Friday with losers up moderately. The market indices climbed sharply as advancing stocks beat out number declining stocks 2 to 1 but with much less volumes passing through the market compared to the heavy trading on Friday.
At the close of the market prices of 19 securities gained out of a total of 38 trading, with 11 declining, in the overall market, including 4 stocks rising and 5 falling, in the junior market.
At the close, 12,416,676 units valued at $159,207,495, changed hands, compared to the 56,335,591 units valued at $1,576,979,024 changing hands on Friday. The junior market accounted for 835,628 units valued at $4,086,204 of the total traded on Monday. The big trade of the day was Supreme Ventures with 6,871,362 units valued at $32,318,545 changing hands to close at $4.70 after falling 28 cents. Carreras traded over 1 million shares at a value of $73,955,605.
The market index ended with good gains, with the JSE Market Index climbing 892.01 points to end at 160,141.08. The all Jamaica Composite Index rose 997.57 points to close at 177,928.04 and the JSE combined index surged 1,128.53 points, to end at 172,409.91.
At the close, IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 16 stocks with bids higher than their last selling prices and 3 with lower offers.
ICI JSE sum 19-09-16In market activity, Barita Investments rose 25 cents and ended with 61,030 units changing hands to close at $3.50, investors pushed the price of Cable & Wireless up by 15 cents to close at 95 cents and picked up 1,594,615 units as selling of the stock abates. Caribbean Cement rose 60 cents, to close at $26.60 with 10,315 units changing hands, Carreras traded 1,137,767 shares to close at $65.50, Investors traded 49,527 shares of 1834 Investments to close with a loss of 6 cents at $1.18, Grace Kennedy lost 50 cents, with 394,085 shares changing hands at $42.50. Jamaica Broilers had 678,683 shares changing hands and gained 5 cents to end at $14.55, Jamaica Producers ended with a gain of 10 cents to close at $8.50 with 108,851 units trading, Jamaica Stock Exchange gained $1 to end at $27.50 while trading 15,168 shares, JMMB Group traded 1,200 units and rose 1 cent to $9.81. Kingston Wharves traded 6,161 shares to close at $17.50, after falling 5 cents, Mayberry Investments had 12,000 shares changing hands, to close with a rise of 5 cents at $3.55, ICI JSE fn qt 19-09-16National Commercial Bank jumped by $1 with 321,588 shares trading and closed at $41, the price of 138 Student Living remained unchanged at $4.70, after 7,150 units changed hands. Pan Jamaican Investments lost just 1 cent and closed at $23.50 after trading 185,496 shares. Radio Jamaica rose 2 cents and closed at $1.42 after 8,000 shares changed hands, Sagicor Group traded 24,120 shares and fell 29 cents to close at $22.81. Sagicor Real Estate Fund traded 38,153 shares to close with a gain of 8 cents at $10.20, Scotia Group gained 30 cents to close at $30.01 with 6,124 shares changing hands. Seprod gained 99 cents to close at $21.50 with 2,333 shares trading and Proven Investments gained 0.95 19.99 US cents.

Juniors make big gains – Monday

Eppley 9.5% preference share closed at a new high of $6.50 in Monday.

Eppley 9.5% preference share closed at a new high of $6.50 in Monday.

The Junior market closed on Monday, with the market index rose strongly by 1.28 percent but with 4 stocks that gained, while 5 declined out of 12 securities that traded. Trading volume and value fell sharply from Friday’s levels.
At the close the stock had a bid of $4.35 to buy 15,000 units, 10,200 units was the lowest offer at $4.80.
The market index gained 29.34 points, to close at 2,326.19. Market activities ended with 8 securities closing with bids higher than their last selling prices and 3 ending with lower offers.
ICI Jm sum 19-09-16Trading ended with 835,628 units changing hands, 83 percent less than on Friday, while the value traded dropped 87 percent, with $4,086,204, compared to $32,514,713 changing hands on Friday.
At the close, Caribbean Cream closed trading with 133,630 shares changing hands at of $9, earlier in the trading session the stock traded at $9.50. Caribbean Producers traded just 13,000 shares and rose 15 cents to close at $3.60. Consolidated Bakeries closed with a loss of 1 cent at $2.43 with 105,051 units changing hands. General Accident closed trading with 81,654 units, to close at $2.20, with a 9 cents loss, Honey Bun gained 32 cents in trading 4,300 units to end at $5.85, ICI jm trade 19-09-16 Jetcon Corporation fell 15 cents and ended at $4.15 with 65,867 units changing hands, after trading at new record high of $4.40. As was the case on Friday, Key Insurance has not traded but seems set to trade at a new low with the offer still at $2.38 compared with the last sale of $2.49, there were no bids on the stock at the close. Lasco Distributors closed with 76,600 units trading and ended with a loss of 15 cents at $6.90. Lasco Financial fell 20 cents with 14,000 shares changing hands to close at $3.10. Lasco Manufacturing closed at $4.90 with 177,726 shares trading, Medical Disposables traded 129,000 shares and closed at $4 and Eppley 9.5% preference share, gained 39 cents in trading 7,100 shares, to end at a 52 weeks’ closing high of $6.50, after trading as high as $7.

ISP $150M arsenal for expansion

ISP Finance got the money to expand lending

ISP Finance got the money to expand lending

ISP Finance raised $150 million it sought from a bond offering paying interest at 10 percent. The issue that was scheduled to close on September 22 but was closed one week earlier. An announcement issued on the morning of September 16 by the brokers VM Wealth Management stated that the Secured Public Bond Offering of ISP Finance Services was fully subscribed and is now closed.
The bonds provide an arsenal funds that will allow for a major expansion of the company’s loan portfolio at a huge spread. At the end of December 2015, the company’s loan portfolio, before loan loss provision stood at $304 million and grew marginally to J$305 million at the end of June. After loan loss provision of $70 million, it stood at $234 million as of June this year versus $241 million at December and is up from the $225 million at the end of March 2016. The new funds should aid in a major increase in lending and should result in as welling of profits. In addition to these fresh cash injection, the company will have funds generated from profits to lend as well.
The Company will apply to the Jamaica Stock Exchange to list the bonds.

Junior market jumps sharply

Trading on the Jamaica Stock Exchange, saw big gains in the market indices with the junior market out pacing the gains with a jump of 42 points or 1.8 percent and led the combined index to gain over 1,000 points in the early morning session.
ici Int -19-9-16The market commenced the week with more than 1 million shares each trading in Cable & Wireless 1,591,675 units as the price held firm, Carreras traded 1,136,267 units as the price fell 50 cents for and National Commercial Bank had 319,588 shares trading at $40. Volume traded in other stocks was very moderate.
Barita Investments traded 9,250 shares at $3.51 with the price gaining 26 cents, Mayberry Investments traded 500 and gained 35 cents to $3.85, Seprod gained 99 cents in trading 1,000 shares at $21.50 and Jamaican Teas gained 40 cents in trading 27,700 shares at $4.
At 10:45 am 20 securities traded, resulting in a volume of 3,175,290 shares changing hands compared to 33,336,371 shares carrying a value of $1,215,936,825 on Friday. The average number of shares traded amounts to 158,765 units compared to 1,515,290 units on Friday. The number of stocks falling are 4 while the prices of 9 securities rose as the market continues to consolidate.
The all Jamaica Composite Index gained 813.86 points to 177,744.33, the Jamaica Stock Exchange Market Index climbed 727.73 points to 159,976.80, the Jamaica Stock Exchange combined index jumped 1,106.08 points to close at 172,387.46 and the junior market index rose 41.88 points to 2,338.84.

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