The junior market ended on Thursday at a new closing high of 1,099.30 for index which gained 41.97 points, earlier in the morning session the index crossed over the 1,100 market and was at 1,105.75. A total of 10 stocks advanced, 2 declined as 14 securities traded while three new all-time highs were recorded at the close. The market ended with 571,293 units, valued at $1,595,810 changing hands.
At the close 4 securities ended with no bids to buy, while 8 had no stocks being offered for sale. A total of 5 stocks closed with bids higher than the last traded prices and one closed with a lower offer.
In trading, Access Financial gained 20 cents and closed at $12.70, with 2,000 units changing hands, AMG Packaging closed with a gain of 5 cents to end at $3.70 with 5,553 units trading, Blue Power closed with 21,475 units changing hands, the price rose of 30 cents to $12.50. Caribbean Cream traded at a new all-time closing high by gaining 20 cents of $2.80 with 39,528 shares changing hands, Caribbean Producers traded 10,088 shares at $2.10, Consolidated Bakeries ended with just 200 units changing hands at $1.14, with a gain of 4 cents. 
Dolphin Cove gained 20 cents to end at $11.70 while trading 2,500 units, General Accident Insurance traded 14,000 units at $1.58 to gain 8 cents, Honey Bun with 17,364 shares changing hands, fell 62 cents to end at $4.38. Jamaican Teas had 5,574 shares trading to close at $3.10 with a loss of 10 cents, Lasco Distributors closed at a new record high of $2.25 with 206,920 units trading for a gain of 25 cents, Lasco Financial gained 15 cents with 186,279 shares changing hands to end at $1.95, Lasco Manufacturing traded 55,812 shares to end at $2.95 after gaining 15 cents for a new all-time high and Paramount Trading had 4,000 units changing hands at $6.50.
Lasco & Kremi push juniors to new record close
Caribbean Cream ended at a new closing all-time high on Wednesday of $2.60.
At the close 3 securities ended with no bids to buy, while 10 had no stocks being offered for sale. A total of 7 stocks closed with bids higher than the last traded prices and none closed with a lower offer.
In trading, Caribbean Cream traded to end at a new all-time closing high of $2.60 with 75,013 shares changing hands, after gaining 5 cents. Investors were responding to a sharp increase in profit of $46 million versus $1.3 million in the prior year for the August quarter.
Caribbean Producers lost 25 cents in trading 367,000 shares at $2.10, KLE Group ended with 4,999 units changing hands at 43 cents, Lasco Distributors with 26,944 units trading, ended 4 cent up to $2. Lasco Financial had 31,370 shares changing hands to end at $1.80, Lasco Manufacturing traded 66,880 shares to end at a new high of $2.80 after gaining 30 cents for a new all-time high. Paramount Trading gained 50 cents while 10,000 units changed hands at a new high of $6.50 and Derrimon Trading Company 11.75% preference share ended with 63,000 units changing hands at $2.23.
HEINEKEN J$31 offer for D&G shares
Heineken N.V. (“HEINEKEN”) is to make an offer to acquire all of the minority shareholders shares in Desnoes & Geddes at US$0.259 per shares or the equivalent of J$31, the company stated in a release today. Udiam shall offer US$ 0.259 (the “Offer Price”) for each D&G Share. The Offer Price is the same price per D&G Share as Heineken International paid to Diageo in respect to the Acquisition.the offer represents a huge premium on the last traded price of the stock of $8 in trading today. The bid on the stock is now at $10.50.
Heineken N.V. (“HEINEKEN”) today has announced that Heineken International B.V. (“Heineken International”), a wholly-owned subsidiary of HEINEKEN, has acquired the entire issued share capital of Udiam Holdings AB (“Udiam”) from a subsidiary of Diageo plc (Diageo plc and its subsidiaries being “Diageo”) for the sum of US$420,992,826 (the “Acquisition”). Udiam owns 1,625,549,827 shares in D&G, which constitutes approximately 57.87% of the share capital of D&G. Heineken International has also acquired a small shareholding which Diageo 
held directly in D&G. The price paid by Heineken International to Diageo for Udiam, and the direct shareholding, equates to US$ 0.259 per D&G share. Prior to the Acquisition, another subsidiary of HEINEKEN already owned 434,033,141 D&G shares, which constitutes approximately 15.45% of the share capital of D&G. Following the Acquisition, HEINEKEN indirectly owns 2,059,610,670 shares, which constitutes approximately 73.32% of the share capital of D&G.
As a consequence of the Acquisition, and pursuant to Regulation 12(1) of the Jamaican Takeover Code, Udiam intends to make an offer (the “Offer”) to the shareholders of D&G for the acquisition of any and all of the shares which HEINEKEN does not, directly or indirectly, currently own (the “D&G Shares”). The Offer will be made through a formal tender offer pursuant to the Jamaican Takeover Code and applicable requirements.
Record close for juniors on Tuesday
Lasco Manufacturing New factory. The company’s stock closed at a new all-time high of $2.50 on Tuesday
At the close 4 securities ended with no bids to buy, while 8 had no stocks being offered for sale. A total of 4 stocks closed with bids higher than the last traded prices and none closed with a lower offer.
In trading, Access Financial lost 50 cents and closed at $12.50, with 1,000 units changing hands, Caribbean Cream traded to close at a new all-time high of $2.55 with 50,329 shares changing hands, after gaining 50 cents. Consolidated Bakeries rose 2 cents in trading >962,162 shares at $1.10, after adding 8 cents,
General Accident Insurance ended with 1,000 units changing hands at $1.55, in the process the stock gained 5 cents. Honey Bun closed at a new high of $5 for a gain of 72 cents with 7,600 shares trading, Jamaican Teas traded 46,043 shares to end with a loss of 2 cents at $3.20, Lasco Distributors with 80,390 units trading, ended 1 cent down to $1.96. Lasco Financial had only 500 shares changing hands to end at $1.80 and added 5 cents and Lasco Manufacturing traded 91,609 shares to end at a new high of $2.50 after gaining 29 cents.
BOJ selling swells FX flows on Monday
BOJ sold US dollars into the system on Monday
In US dollar trading , dealers bought US$84,551,283 compared to US$23,410,069 on Friday. The buying rate for the US dollar rose 47 cent to $118.93 and US$81,821,341 was sold versus US$27,690,189 on Friday, the selling rate declined 1 cent to end at $119.23.
The Canadian dollar buying rate rose 74 cents to end at $87.81, with dealers buying C$1,393,777 and selling C$636,212, at an average rate that fell 41 cents to $90.18. The rate for buying the British Pound declined $1.39 to $177.12 for the purchase of £1,392,812, while £320,644 was sold, at an average rate that remained at $179.45. At the end of trading, it took J$134.45 to purchase the Euro, with a rise of 94 cents on Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$131.57, for a gain of 85 cents on Friday’s rate. The US dollar equivalent of other currencies traded, amounts to US$309,978 being bought, while US$163,604 was sold.Highs & Lows| The highest buying rate for the US dollar eased 7 cents on Monday to $119.45, the lowest buying rate slipped 9 cents to end at $97.61, the highest and lowest selling rates were unchanged at $125.19 and $97.69 respectively.
The highest buying rate for the Canadian dollar jumped $1.90 to $92, the lowest buying rate gained 37 cents to $71.42, the highest selling rate climbed $1.60 to end at $94.20 and the lowest selling rate fell $1 to $84. The highest buying rate for the British Pound, declined 65 cents to end at $180.55. The lowest buying rate leapt $13 to $141.20, the highest selling rate gained $1.65 to $187.30 and the lowest selling rate plummeted $12.50 to close at $162.30.
JSE main indices up sharply on Monday
The Jamaica Stock Exchange saw continued low trading activity on Monday, while the main market indices surged sharply with the all Jamaica composite rising over 2,000 points. At the close, there were 12 stocks rising, 9 declining with 25 securities totalling 1,997,084 units, valued at $8,313,166 changing hands, in all market segments.
The main market indices suffered declines with the JSE Market Index leapt 1,796.05 points to 98,415.80, the JSE All Jamaican Composite index surged 2,007.19 points to 108,941.49 and the JSE combined index jumped 1,755.12 to end at 102,063.42 points.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 15 stocks with bids higher than their last selling prices and 4 with offers that were lower.
In trading, Berger Paints ended with 45,500 shares trading 1 cent down at $2.29, Cable and Wireless added 2 cents with 808,014 shares changing hands to close at 53 cents, Caribbean Cement traded 25,840 shares to close 1 cent higher at $8.01. Desnoes & Geddes traded 42,650 shares at to close at $6.82, after gaining 20 cents, Grace Kennedy did not trade but had no shares on offer, at the close, for the second day running. Jamaica Broilers traded at $5.80 with 13,951 shares changing ownership and dropping 1 cent. Jamaica Producers dropped $1 to end at $17 with only 10,000 units trading, Jamaica Stock Exchange traded 27,000 
shares in ending at $7.11, for a 19 cents fall, Mayberry Investments had 32,000 shares trading to close at $2.35, for a loss of 25 cents, at the close the stock was on offer at $2.20. National Commercial Bank had 30,500 units trading at the close at $30.50 for a 50 cents fall, Pan Jamaican traded 5,000 shares to close with a rise of 48 cents to $61.50. Sagicor Group with 32,000 shares trading, closed with a loss of 3 cents to end at $13, Scotia Group added 25 cents in ending at $23.75 while 149,247 shares traded and Proven Investments ordinary share close at 22 US cents after gaining 2.25 cents with 173,100 units changing hands.
New high for junior market soon
The junior market seems set to hit a new record this coming week thus surpassing the record 1,040.59 points it closed at on 11th of August 2015. Any new record is not likely to be from a broad based rally but from a few selective securities. Since that peak the market retreated 9.3 percent to 943.44 on September 16.
The chart shows the market closing the week at resistance level, see red line. If it breaks through that level, it could move on to 1,200 points before any further level of major resistance is reached, see upward sloping black line. At that stage other junior stocks are likely to chip in.
On Friday, the junior market index jumped 31.29 points to close the week at 1,017.38 with Lasco Manufacturing hitting a new high of $2.40 before closing at $2.28 and Caribbean Cream jumping 30 cents to $2.05. Both companies have been in the new with expansion plants that is expected to 9increase revenues and cut cost. IC Insider’s earnings per share forecast for the current fiscal year ending March 2016, is 40 cents for Lasco and Caribbean Cream for the current fiscal year ending February 2016 is 78 cents per share. Demand is in for Caribbean Cream with selling moving to $3 by the close on Friday but with only 28,338 units, Lasco Manufacturing closed with just 17,200 shares on offer after it closed at a record high but has buy orders in 614,000 units at $2.15 and above and over 950,000 units at $2 and $2.10. Lasco Distributors is not as bullish with earnings per share forecast of 34 cents, as its manufacturing sister but has only 8,544 units on offer at $2.10 and 10,000 units at $2.15, buying is in at $1.88 and below.
Juniors make major gains on Friday
Lasco’s hot “I Cool” drink helped propel the stock to a new record close on Friday.
At the close 3 securities ended with no bids to buy, while 8 had no stocks being offered for sale. A total of 4 stocks closed with bids higher than the last traded prices and 1 closed with a lower offer.
In trading, Access Financial closed at $13 with 2,732 units changing hands, to gain 50 cents, Caribbean Cream traded just 10,000 units with a gain of 30 cents at $2.05, General Accident Insurance ended with 71,624 units changing hands at $1.50, in the process lost 1 cent.
Jamaican Teas traded 1,860 units to end at $3 with a loss of 14 cents, Lasco Distributors with 459,421 units trading, ended with a loss of 5 cents at $1.95. Lasco Financial had 27,130 shares changing hands to end at $1.90, for a gain of 1 cents, Lasco Manufacturing with 357,626 shares trading, closed at a 52 weeks’ high of $2.21, with a gain of 18 cents and Medical Disposables ended with 19,500 shares changing hands to end at $2.45 with a loss of 5 cents.Supply have declined sharply for Caribbean Cream and Lasco Manufacturing, with offers now well above the last traded prices with demand above $1.90 for Caribbean Cream and over $2 for Lasco Manufacturing.
Interest saved cuts Phillips’ cost by $10B
Peter Phillips’ assertion that there will be a near $9 billion cut in the 2015/16 budget might have come as a shock to the country already reeling from the pains of severe economic adjustments but much of the work has already be done with a sharp $4.7 billion cut in interest payments to August.
The savings works out at more than $10 billion for the full year and might be even more with Treasury bill rate continuing to fall as such the Minister’s work seems a mere formality of recognizing that interest cost was over estimated in the first place and not for the first time.
Up to August, apart from the big drop in interest cost capital expenditure was underspent buy $4 billion with just spent out of the $16.3 billion budgeted for the 5 months period. The wages bill was underspent by $3.4 billion with just $$67.9 billion spent out of $71.3 planned. Other areas of recurrent expenditure saw arise of $1.4 billion above budget.
Collector of Taxes office, Constant Spring, Kingston.
Government borrowed $14 billion less in the local market than budgeted taking only $5.8 billion in new funds as opposed to almost $20 billion planned. But they borrowed $255 billion on the foreign side versus $59 billion planned but paid out $180 billion more than budgeted.
Imports & exports down to June
Petroleum imports help cut trade deficit to June
Traditional domestic exports during the 2015 review period grew 3.6 percent over 2014 to US$407 million, while Non-Traditional exports earned declined by a large 29.4 percent or US$92 million to US$220 million in 2015.
Import of buses for JUTC added to the Jamaica’s imports to June.
Excluding motor cars there was an increase in Consumer Goods of 8.7 percent or US$67 million to US$839 million during January to June 2015 compared to the same period in 2014. Expenditure on Capital Goods accounted for US$273 million of imports, up from US$256 million in 2014.
