Inflation in Jamaica rises in June

Inflation in Jamaica climbed by one percent in June over May, fueled by a spike in food prices, furnishings, household equipment and routine housekeeping and restaurant and accommodation services that rose 4.2 percent.
Inflation for the past two months is slightly higher than the same period in 2022, with June this year being partially pushed by the sharp increase in the minimum wage.
Point to point inflation rose from 6.1 percent in May to 6.3 percent, while the fiscal year inflation to date ended at 1.6 percent to June or 4.8 percent per annum if the current rate were to continue to March 2024.

Value of stocks traded surged on the JSE

Trading surged for a second consecutive day on the Jamaica Stock Exchange on Wednesday, with the volume of stocks trading declining but resulted in a higher value than on Tuesday following GraceKennedy trading 3.76 million shares for $291 million, NCB Financial ended with 3 million shares for $204 million and ScotiaGroup with 4.85 million shares for $164 million as trading ended with the Junior and JSEUSD markets rising at the close and the Main Market declining even as with Transjamaican Highway and Wigton Windfarm continues to hit new 52 weeks’ highs.
At the close of the market, the JSE Combined Market Index fell 1,534.67 points to 340,641.18, the All Jamaican Composite Index declined 1,105.39 points to close at 360,982.14, the JSE Main Index dropped 1,861.20 points at 327,139.32, the Junior Market Index climbed 22.06 points to 3,866.96, while the JSE USD Market Index gained 1.89 points to close at 240.02.
Preference shares with notable price movements but are not in the Main Market TOP10 graphs are Eppley 7.25% preference share recovered the $2.85 it lost on Tuesday in closing at $19 and Jamaica Public Service 7% shed $1.99 in closing at $50.01.
At the close, investors exchanged 41,085,482 shares in all three markets on Tuesday compared to 60,867,391 shares on Tuesday. The value of stocks trading in the Junior and main markets was $752.6 million, up sharply from $609.18 million on Tuesday. Trading on the JSE USD market resulted in investors exchanging 289,060 shares for US$34,073 compared to 132,703 units at US$3,992 on Tuesday. The market’s PE ratio ended at 18.3 on 2022-23 earnings and 11.3 times those for 2023-24 at the close of trading. Investors need pertinent data to successfully navigate numerous investment options in the local stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making. Investors should use the chart to help make rational decisions when investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and put in on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The ICInsider.com PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange and shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends paid or payable and yields for each company are shown in the Main and Junior Markets’ daily report charts along with the closing volume pertaining to the highest bid and the lowest offer for each company.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.

Big Transjamaican & Kingston Wharves’ trades

Transjamaican Highway led trading with 26.28 million shares controlling 48.4 percent of the total volume, followed by Kingston Wharves with 17.71 million units for 32.6 percent of the day’s trade as trading activity surged sharply over Monday on the Jamaica Stock Exchange Main Market on Tuesday, with the volume of stocks traded rising 387 percent and the value 744 percent more than on Monday.
Trading occurred in 56 securities compared with 62 on Monday and ended with prices of 27 rising, 22 declining and seven unchanged as three stocks hit 52 weeks’ high and two 52 weeks’ low, stocks trading at 52 weeks’ high are Transjamaican closing at a record of $2.21, Sagicor Select MD  at 70 cents and Wigton Windfarms at 87 cents while Barita closed at a 52 weeks’ low of $73.95 and Eppley 7.25 Preference Share at $16.15.
At the close of trading, 54,343,616 shares were traded for $593,158,740, compared with 11,158,702 units at $70,313,195 on Monday.
Trading averaged 970,422 shares at $10,592,120 versus  179,979 shares at $1,134,084 on Monday and month to date, an average of 329,517 units at $5,231,512, compared with 250,636 units at $4,571,744 on the previous day. May closed with an average of 226,361 units at $1,362,447.
Other than Transjamaican Highway and Kingston Wharves that dominated trading, other leading trades are 138 Student Living ended with 2.11 million units for 3.9 percent market share, Wigton Windfarm with 2.08 million units for 3.8 percent market share, QWI Investments with 2.05 million units for 3.8 percent market share and Sagicor Select Financial Fund with 1.92 million units for 3.5 percent of total volume.
The All Jamaican Composite Index rallied 810.40 points to 362,087.53, the JSE Main Index rose 469.12 points to 329,000.52 and the JSE Financial Index popped 0.13 points to close trading at 73.88.
The PE Ratio, a formula used to compute appropriate stock values, averages 13 for the Main Market. The JSE Main and USD Market PE ratios are computed based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows ten stocks ended with bids higher than their last selling prices and six with lower offers.
At the close, Berger Paints declined 57 cents to end at $7.10, with 985 shares clearing the market, Eppley popped $4.69 to $36.80 while exchanging 317 units, Eppley Caribbean Property Fund dipped $1 to $40 in switching ownership of 100 stock units, First Rock Real Estate increased 48 cents to close at $10.49 with shareholders swapping 920 stocks, GraceKennedy advanced 40 cents in closing at $78.90 with investors transferring 40,608 stocks, Jamaica Broilers rallied $1.26 to end at $34.76 with an exchange of 44,648 stock units, Kingston Wharves dropped $1.50 to close at $28 17,706,722 shares crossing the market, Margaritaville shed 34 cents to end at $14.63 in an exchange of 12,057 units, Massy Holdings fell 43 cents to close at $99.57 in an exchange of 1,962 shares, Mayberry Investments gained 46 cents and ended at $9 after a transfer of 119,549 units, NCB Financial climbed 50 cents to end at $68 in trading 16,338 stock units, 138 Student Living lost 51 cents to close at $5, with 2,114,160 stocks changing hands, Pan Jamaica Group rose $1.88 to $49.99, with 906 shares crossing the market,Sagicor Group popped 45 cents to $48.95 as investors exchanged 100,393 stocks, Scotia Group rallied $1.10 in closing at $34.70 after an exchange of 91,334 stock units, Seprod shed $2.40 to end at $70 with a transfer of 482 units, Stanley Motta advanced 36 cents and ended at $5.44 after exchanging 33,521 shares, Sterling Investments slipped 39 cents to $2.50 after 6,196 stocks passed through the market, Supreme Ventures increased $2.19 to close at $26.69 trading 52,974 units.
In the preference segmentEppley 7.25% preference share declined $2.85 in closing at $16.15 with 50 stock units changed hands, Eppley 7.50% preference share climbed $1.19 to end at $7.39, with 220 units crossing the exchange, Jamaica Public Service 7% gained $2 in closing at $52 after a transfer of 200 stock units, Jamaica Public Service 9.5% fell $22 to close at $2978, with six shares crossing the market, 138 Student Living preference share rose $6.99 and ended at $87.99 in switching ownership of 7 stocks and Productive Business Solutions 9.75% preference share dipped $14.50 to $91.50 in trading seven units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

All JSE Market drop on Monday

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The markets closed lower on the Jamaica Stock Exchange on Monday with trading volume and value falling bellows Friday’s levels and providing limited support to the market’s prices.
The JSE Combined Market Index fell 633.59 points to 347,152.65, the All Jamaican Composite Index declined by 1,262.06 points to 369,455.98, the JSE Main Index fell 279.16 points to 335,318.38, the Junior Market Index fell 40.76 points to 3,744.57 and the JSE USD Market Index slipped 3.96 points to 234.26.
Shares in the preference segment of the Main Market not included in the TOP10 graphs ended with Jamaica Public Service 7% falling $11.78 to close at $66.72.
At the close, investors exchanged 20,210,036 shares in all three markets, down from 29,251,124 18 units on Friday, with the value of stocks trading amounting to $83.8 million down from $94.5 million on Friday. Trading on the JSE USD market resulted in investors exchanging 144,256 shares for US$3,922 compared to 112,013 units at US$25,887 on Friday.
The market’s PE ratio ended at 18.6 on 2022-23 earnings and 11.4 times those for 2023-24 at the close of trading.
Investors need pertinent information to successfully navigate numerous investment options in the local stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational decisions when investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and put in on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The ICInsider.com PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange and shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends paid or payable and yields for each company are shown in the Main and Junior Markets’ daily report charts along with the closing volume pertaining to the highest bid and the lowest offer for each company.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.

Remittances to Jamaica rise

Remittance inflows into Jamaica continue to be resilient, matching the 2022 inflows up to March, with total inflows of $301.4 million this year, some US$6.6 million or 2.2 percent more than was collected in March 2022.
From January to March 2023, inflows of remittances to Jamaica amount to US$800.4 million, an increase of 0.9 percent compared with the January to March 2022 with US$793.2 million.
Barring any unusual developments, the country is on track to match the U$3.44 billion in total inflows generated in 2022.
According to the data released by the Bank of Jamaica, remittances for 2022, although marginally down on a per capita basis to $1.147.4 from $US1,176 in 2021, inflows are once more below the inflows for tourism for the first time since 2020 and were 181 percent of total export earnings in 2022 and down from 236 percent in 2021.

More declines for Jamaican stock markets

The Jamaica Stock Exchange Main and Junior Markets rose at the close of trading on Friday, but the USD market slipped lower with the volume and value of stocks traded falling compared with trading on Thursday.
At the close of trading, JPS 7% preference shares jumped $50 to an unrealistic record high of $$00 after investors exchanged 1,295 shares, with an exchange of 16,410,081 shares in all three markets, compared with 43,111,953 units, with a value of $82.4 million, in contrast to $101.4 million on the previous trading day. JSE USD market closed with investors trading 273,362 shares for US$7,044 compared to just 21,983,490 units at US$1.63 million on Thursday.
The JSE Combined Market Index climbed 1,499.50 points to close at 334,072.41, the All Jamaican Composite Index rose 861.71 points to 363,092.98, the JSE Main Index rallied 1,262.43 points to 322,420.29, the Junior Market gained 34.78 to end at 3,629.45 and the JSE USD Market Index fell 1.66 points to close at 215.70.
The market’s PE ratio ended at 18.2 based on 2021-22 earnings and 11.7 times those for 2022-23 at the close of trading.
Investors need pertinent information to successfully navigate many investment options in the local stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational decisions when investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and put in on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The ICInsider.com PE Ratio chart covers all ordinary shares on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that also show the closing volume pertaining to the bids and offers for each company.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.

Surge in Monday trading on the Jamaica Stock Exchange

Trading surged sharply on the Jamaica Stock Exchange on Monday but prices softened in the JSE USD market and the JSE Main Market suffered while the Junior Market popped a few points by the close.
At the close of trading, 33,504,090 shares were traded in all three markets, from 22,972,502 units, with a value of $250.45 million, up from $109.5 million on the previous trading day. Trading on the JSE USD market resulted in investors exchanging 88,737 shares for a mere US$48,455 compared to 86,809 units at US$1,115 on Friday.
The JSE Combined Market Index popped 705.24 points to 341,823.54, the All Jamaican Composite Index lost 745.02 points in ending at 372,176.69, the JSE Main Index fell 1,581.47 points to close at 328,859.80, the Junior Market dropped 11.64 points to 3,817.91 and the JSE USD Market Index plunged 21.45 points to end at 188.34 and follows a 20 points drop on Thursday and Friday.
The market’s PE ratio ended at 19 based on 2021-22 earnings and 12.3 times those for 2022-23 at the close of trading.
Investors need pertinent information to successfully navigate many investment options in the local stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational decisions when investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and put in on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The ICInsider.com PE Ratio chart covers all ordinary shares on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that also show the closing volume pertaining to the bids and offers for each company.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.

Trading jumps as JSE markets fall

The total amount of funds entering the Jamaica Stock Exchange markets surged on Thursday over Wednesday but the Main and Junior markets suffered declines after opening up in the morning sessions but the JSE USD market inched higher.  
At the close of market action Palace Amusement surged to a record high of $3,250 after posting a gain of $350 as trading on the market ended with an exchange of 29,715,470 shares down from 44,186,085 units on Wednesday, with a value of $285.4 million from a mere $71.79 million on the previous day. Trading on the JSE USD market resulted in investors exchanging US$36,261 versus US$3,947 on Wednesday.
At the close, the Combined Market Index dropped 2,149.90 points to 351,278.98, the All Jamaican Composite Index lost 3,148.60 points to close at 383,016.56, the JSE Main Market Index declined 1,743.19 points to 338,349.97, the Junior Market dived 56.62 points to 3,884.06 and the JSE US dollar market popped 0.37 points to close at 199.46.
The market’s PE ratio ended at 22.2 based on 2021-22 earnings and 13.8 times those for 2022-23 at the close of trading.
Investors need pertinent information to successfully navigate many investment options in the local stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational investment decisions by investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and put in on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The ICInsider.com PE Ratio chart covers all ordinary shares on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.

 

Investors not properly protected

In light of the news regarding Usain Bolt and other investors at Stocks and Securities, this publication reproduces an article posted in 2018 on ICInsider.com about the financial sector’s danger signs. The article warned of the tsunami that exists in the financial system that no one wants to deal with. The following article is reproduced for all to see the latest development is a clear indication that the Minister in charge must take on board directly to correct some bad practices in the sector so as to build a resilient and thriving sector.
All concerned should be pleased that good sense has prevailed and the Elite IPO has been put off for now, the IPO while they correct the errors in the prospectus, in keeping with this publication’s recommendation.
The matter brings to the fore once again, the inadequacy of capital market monitoring leaving investors with a false sense of security that they are led to believe.

Usain Bolt’s high rise on Halfway Tree Road

What are some of the facts? The rules for takeover on paper are meant to protect minority shareholders, in fact, they hardly do. Minority shareholders in many cases are not in a strong position to assess if they should or should not surrender their shares in a takeover bid. Worse the directors’ recommendations are fraught with problems. Most directors are not serious stock market investors and are not equipped to make a proper assessment of the company’s value in order to make a proper recommendation to shareholders.
A good example of this is the takeover attempts for all the shares of Berger Paints last year which was accompanied by directors’ report recommending acceptance of the offer and contained false information which was used to try and convince shareholders that they should surrender their shares. No one in authority seems to have called for proof of the information in the circular to support their view or asked to correct the error. Nor was the company required to provide shareholders with up to date financial information, which is not now a requirement but ought to be.
Cable & Wireless directors are recommending the sale of the shares to the majority owner but have not provided shareholders with results to December, last year or forecast earnings. There is no rationale for this critical information to be provided to valuators but not to the persons who count – shareholders. So Why have the shareholders not been given such pertinent information?
The C&W offer is being made at a time when the company’s fortunes have improved considerably and could end with a profit or small loss in 2017. From IC Insider.com assessment, the company is in a very good position to report a good level of profit in 2018 with interest cost set to fall by around $1 billion per year and revenues set to rise. Investors should get more information as to the 2017 results and forecast for two or so years to enable them to make an informed decision.
The marketplace has dealers who blatantly breach agreements with clients but no regulator in the sector does anything about it. So while the Minister of Finance is proud of the success of the Junior Market, he is unaware of the tsunami that lies just below in the system that he is minster over and one day could explode.

Trading jumps for Junior Market

The Jamaica Stock Exchange Junior Market Index jumped 67.01 points to 3,885.74 at the close of trading on Wednesday, with the volume of stocks traded jumping 160 percent more than on Tuesday with the value up 148 percent following the trading of 41 securities versus 43 on Tuesday and ended with prices of 15 rising, 14 declining and 12 closing unchanged.
The volume of stocks traded jumped from 22,074,785 shares to 57,486,327 units on Wednesday at a value of $181,774,492 up from $73,296,318 on Tuesday.
Trading on Wednesday averaged 1,402,106 shares at $4,433,524 compared to 513,367 units at $1,704,566 on Tuesday. Trading for the month to date, averaged 317,538 units at $873,718 versus 242,042 stock units at $625,922 on the previous day. Trading in November averaged 259,89 units at $711,335.
Fosrich led trading with 33.71 million shares with a value of $133 million for 58.6 percent of total volume followed by JFP Ltd with 12.63 million units for 22 percent of the day’s trade, Derrimon Trading with 4.05 million units for 7 percent market share, Regency Petroleum with 2.73 million units for 4.8 percent of the market trades and Future Energy Source with 1.08 million units for 1.9 percent market share.
The PE Ratio, a measure of computing appropriate stock values, averages 11.8. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for the financial year endings that falls between November this year and August 2023.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and one stock with a lower offer.
At the close, Access Financial lost 43 cents to $20.67, with 1,414 shares clearing the market, AMG Packaging climbed 44 cents to end at $3.49 as investors exchanged a mere 28 units, Derrimon Trading gained 28 cents in closing at $2.40 after 4,052,243 stocks crossed the market. EduFocal dropped 7 cents to $2.30 after a transfer of 25,568 stock units, Fontana shed 10 cents to end at $8.90 and traded 52,822 stock units, Fosrich rallied 5 cents in ending at $3.85 with a transfer of 33,707,094 shares, Future Energy Source rose 13 cents to close at $4.84 after an exchange of 1,079,496 stock units, Honey Bun rallied 22 cents to $7.22 after a transfer of 16,793 stocks.  iCreate dropped 24 cents in closing at $1.87 and exchanging 42,550 units, Lasco Distributors lost 5 cents to close at $2.80 with 365,272 units changing hands, Lasco Financial declined 9 cents in closing at $2.80 as investors exchanged 34,650 stocks. Lasco Manufacturing advanced 25 cents to end at $4.20, with 10,295 shares crossing the market, Limners and Bards gained 11 cents in ending at $2.51 with an exchange of 40,773 stock units. MFS Capital Partners popped 64 cents to close at $3 in trading 110,688 units, Spur Tree Spices fell 14 cents to $2.96 after 282,184 shares crossed the exchange and Stationery and Office Supplies rallied $1 to end at $14 with the swapping of 22,328 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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