Big fall for juniors on Friday

Dolphin Cove dropped $3.85 on Friday to end at $16.15.

The junior market lost 42.53 points at the close on Friday according to the report From Jamaica Stock Exchange. The exchange report omitted trading data for Main Event and when included could result in a higher decline in the junior market index which is reported to have closed at 3,120.22.
Trading concluded with 18 securities changed hands, of 8 advanced and 8 declined, while 3 stocks closed at new 52 weeks’ high.
Trading ended with 1,700,678 units valued at over $11,745,304 passing through the market, compared to 946,475 units valued at over $5,488,079 on Thursday. At the close 5 stocks had bids higher than their last sale prices and 4 ended with lower offers, than the last sale.
The junior market ended trading with an average of 94,482 units for an average value of $652,517 traded, compared to of 52,582 units for an average value of $304,893 on the previous trading day. The average volume and value for the month to date ended at 238,297 units and $1,465,313 compared to 246,757 units and $1,513,124 to the previous day. The average volume and value for January, ended at 165,547 units and $884,749.
At the close of trading, CAC 2000 lost 40 cents and closed at $7.10 with 160,000 units changing hands, Cargo Handlers traded 1,000 shares and gained $1 to end at $25, Caribbean Cream closed trading with 13,060 units at $8.01, after slipping by 38 cents. Caribbean Producers fell 27 cents in trading 10,000 units $4.30, Consolidated Bakeries lost 39 cents in trading 39,860 shares to close at $3.70, Investors chopped $3.85 off the price of Dolphin Cove that closed trading with 12,435 shares, to end at $16.15. General Accident closed with 32,590 shares while falling 20 cents to end at $3.30, Honey Bun had 21,059 shares changing hands, to end at $7.95, ISP Finance lost $1 while trading 514,500 shares to end at $9, Jamaican Teas gained 95 cents in trading 11,284 shares to close at $9. Jetcon Corporation closed trading with 38,522 shares being exchanged, to end at $11.50, Knutsford Express gained 6 cents and ended trading 5,000 units, to close at a 52 weeks’ high of $35.06, Lasco Distributors ended with 120,070 units trading with a rise of 25 cents at $7. Lasco Financial traded 65,122 shares changing hands, to end with a rise of 22 cents at $4.62, Lasco Manufacturing rose 10 cents and closed with 357,945 units changing hands at $4.95, Main Event had 263,064 shares changing hands, to close at $4.71. Medical Disposables fell by $1 to close at $6 with 31,889 shares changing hands, Paramount Trading rose 9 cents and ended with 500 shares changing hands at $3.79 and tTech rose just 9 cents and closed trading with 2,778 units changing hands at $7.70.

Jamaican stocks mostly up on Wednesday

Stocks trading on the Jamaican Stock Exchange, on Wednesday mostly rose leading to gains in the man market indices, moderate gains for the junior market and a rise of the US dollar market index.
The market closed with trading in 51 securities with 23 stocks rising and 14 falling, in all markets. At the close, the main market had 11 stocks rising and 11 declining, while 12 stocks gained and 4 declined from the junior market based on the last selling price and 1 fell in the US dollar market.
The JSE combined index rose 657.50 points, to close at 248,171.94, the All Jamaica Composite Index climbed 744.89 points to finish at 255,197.40 the JSE Market Index moved higher by 666.06 points to end at 232,566.36. The junior market index gained 3.90 points to close at record 3,162.69 points and the JSE US dollar market index rose 9.57 points, to close at 235.54.
Trading in the overall market reached 9,365,244 units valued at $67,194,537 compared with the previous day with 15,737,390 units valued at $95,432,907, having changed hands. The junior market accounted for 6,803,575 units valued at over $35,960,840 of those trading. The US dollar market index traded 9,768 units valued at US$3,077.
The average trade for the day in the main market ended at 101,437 shares compared to an average of 85,131 units on Tuesday. For the month to date, an average of 116,741 shares traded, compared to an average of 132,046 units up to the prior trading day. January ended with an average of 592,602 units.
The junior market ended trading with an strong>average
of 272,143 units for an average value of $1,438,434 traded, compared to of 53,783 units with an average value of $315,952 on the previous trading day. The average volume and value for the month to date ended at 258,893 units and $1,588,639 compared to 258,010 units and $1,598,653 to the previous day. The average volume and value for January, ended at 165,547 units and $884,749.
IC bid-offer Indicator| At the end of trading in the main and junior markets, the Investor’s Choice bid-offer indicator reading shows 17 stocks with bids higher than their last selling prices and 2 with lower offers.

Another record close for juniors

Lasco Financial traded at a new high on the junior market on Wednesday.

Lasco Manufacturing traded 5,269,141 shares accounting 77.45 percent of the volume changing hands on Wednesday as the junior market eked out another new high at the close.
The junior market ended trading on Wednesday, with a moderate gain of 3.90 points to close at 3,162.69 as 25 securities changed hands, with 12 advancing and 4 declining stocks, while 3 stocks closed at new 52 weeks’ high.
Trading ended with 6,803,575 units valued at over $35,960,840 passing through the market, compared to 21,021,882 units valued at $6,003,095, on Tuesday At the close 6 stocks had bids higher than their last sale prices and 2 with lower offers, than the last sale.
An average of 272,143 units with an average value of $1,438,434 traded, compared to of 53,783 units with an average value of $315,952 on the previous trading day. The average volume and value for the month to date ended at 258,893 units and $1,588,639 compared to 258,010 units and $1,598,653 to the previous day. The average volume and value for January, ended at 165,547 units and $884,749.
At the close of trading, AMG Packaging rose 99 cents to close at $25 with 3,000 units changing hands, C2W Music had 28,317 units changing hands to close at 39 cents, CAC 2000 closed at $7.50 with 7,500 units changing hands, Cargo Handlers traded 15,900 shares and gained 43 cents to end at $24.50. Caribbean Cream closed trading with 33,630 units at $8.40, after gaining by 25 cents. Caribbean Flavours rallied by 81 cents in trading 880 units to end at a 52 weeks’ high of $14.31, Consolidated Bakeries traded 60,141 shares to close at $4.05, Derrimon Trading rose 30 cents to end at a 52 weeks’ high of $7.50 with 1,500 shares changing hands, Dolphin Cove closed trading with 3,660 shares, to end at $20. General Accident closed with 81,000 shares while falling 25 cents to end at $3.85, Honey Bun gained 50 cents with 7,470 shares changing hands, to end at $7.50, Jamaican Teas gained 50 cents in trading 28,000 shares to close at $8.50. Jetcon Corporation closed trading with a 20 cents loss, with 287,475 shares being exchanged, to end at $11, Key Insurance traded 14,000 units, to close with a rise of 50 cents at $3.50, KLE Group gained 26 cents and ended with 2,000 units changing hands at $2.86. Knutsford Express ended trading with 3,172 units to close at $35, Lasco Distributors ended with 106,350 units trading with a loss of 30 cents at $7, Lasco Financial traded 49,354 shares changing hands, to end with a rise of 25 cents at $4.75, Lasco Manufacturing closed with 5,269,141 units changing hands at $4.95. Main Event gained just 1 cent while 181,750 shares changed hands to close at $4.81, Medical Disposables closed at $7 with 32,100 shares changing hands, Paramount Trading fell 30 cents and ended with 350,551 shares changing hands at $3.50. Sweet River traded just 200 shares at $3.50, tTech rose 41 cents and closed trading with 6,152 units changing hands at $7.61 and Eppley 8.25% preference share, ended with 230,332 units changing hands at $6 after falling by 1 cent.

Jamaican stocks enjoy big gains – Monday

Stocks trading on the Jamaican Stock Exchange, on Monday mostly rose leading to strong gains in the man market indices, moderate gains for the junior market and a fall of the US dollar market index. The market closed with trading in 52 securities and ended with 23 stocks rising and 15 falling, in all markets.
At the close 11 stocks gained and 8 declined from the junior market, based on the last selling price and 1 gained and 1 fell in the US dollar market.
The All Jamaica Composite Index climbed 1,994.33 points to close at 255,338.83, the JSE Market Index moved sharply higher by 1,783.28 points to finish 232,692.82, the JSE combined index jumped 1,704.71 points, to close at 247,657.49, the junior market index rose 5.05 points to close at 3,101.51 points and the US dollar market index fell 5.28 points to end at 233.43.
Trading was quite steady compared with the previous day with 8,079,039 units valued at $48,306,068, having changed hands, compared to 8,815,422 units valued at $83,003,765 changing hands on Friday. The junior market accounted for 2,642,818 units valued at over $15,747,182 of those trading.
The average trade for the day in the main market ended at 219,185 shares compared to an average of 122,952 units on Friday. For the month to date, an average of 178,960 shares compared to an average of 138,735 units up to the prior trading day. January ended with an average of 592,602 units.
The junior market ended trading with an average of 110,117 units with an average value of $656,133 traded, compared to of 274,339 units with an average value of $1,777,511 on the previous trading day. The average volume and value for the month to date ended at 272,597 units and $1,690,274 compared to 285,096 units and $1,759,823 to the previous day. The average volume and value for January, ended at 165,547 units and $884,749.
IC bid-offer Indicator| At the end of trading in the main and junior markets, the Investor’s Choice bid-offer indicator reading shows 14 stocks with bids higher than their last selling prices and 5 with lower offers.

New record close for juniors – Tuesday

The junior market hit a new record close at the end of trading on Tuesday, with a strong gain of 57.28 points to close at 3,101.51 as 19 securities changed hands.
The market ended with an equal numbers of advancing and declining stocks, after three stocks rose by $1, $4 and $5.10.
At the market’s close, 7 stocks rising while 7 declined while 3 closed at 52 weeks’ highs. Trading ended with 1,021,882 units valued at $6,003,095 passing through the market, compared to 2,642,818 units valued at over $15,747,182, on Monday. At the close 6 stocks had bids higher than their last sale prices and 2 with lower offers, than the last sale, while 1 stock closed at new 52 weeks’ high while one traded at an intraday high.
An average of 53,783 units with an average value of $315,952 traded, compared to of 110,117 units with an average value of $656,133 on the previous trading day. The average volume and value for the month to date ended at 258,010 units and $1,598,653 compared to 272,597 units and $1,690,274 to the previous day. The average volume and value for January, ended at 165,547 units and $884,749.
At the close of trading, CAC 2000 rose 55 cents and closed at $7.50 with 11,000 units changing hands, Caribbean Cream closed trading with 84,589 units at $8.15, after gaining by 15 cents. Caribbean Producers closed trading with 3,466 units being exchanged at $4.50 for a loss of 10 cents, Derrimon Trading ended at $7.20 with 130,736 shares changing hands, Dolphin Cove jumped $4 in trading 2,451 shares, to close at a 52 weeks high of $20. General Accident closed trading with 20,009 shares while falling 2 cents to end at $4.10, Honey Bun gained 50 cents and closed with 30,210 shares changing hands to end at $7.50,

Knutsford Express jumped $5.10 to a new high of $35.

ISP Finance traded 5,000 units to end at a 52 weeks’ high of $10, Jamaican Teas traded 2,018 shares to close at $8. Jetcon Corporation closed trading with a 9 cents loss, with 66,550 shares being exchanged, to end at $10.80, Key Insurance traded 23,923 units, to close with a rise of 11 cents at $3, KLE Group fell 10 cents and ended with 43,319 units changing hands at $2.60. Knutsford Express ended trading just 200 units to close at record $35, after jumping $5.10, Lasco Financial traded 60,000 shares changing hands, to end with a fall of 20 cents at $4.50, Lasco Manufacturing closed with 183,341 units changing hands, with a loss of 5 cents at $4.95, Main Event had 251,120 shares changing hands to close at $4.80. Medical Disposables closed at $7 with 21,446 shares changing hands, Paramount Trading ended with 56,373 shares changing hands at $3.80 and tTech shed 70 cents and closed trading with 26,131 units changing hands at $7.20.

Jamaican stocks drop on Tuesday

Stocks trading on the Jamaican Stock Exchange, on Tuesday mostly rose leading to strong gains in the man market indices, moderate gains for the junior market and a fall of the US dollar market index.
The market closed with trading in 47 securities with 15 stocks rising and 15 falling, in all markets. At the close 7 stocks gained and 7 declined from the junior market based on the last selling price and 1 fell in the US dollar market.
The JSE combined index fell 143.05 points, to close at 247,514.44, the All Jamaica Composite Index shed 886.32 points to close at 254,452.51, the JSE Market Index moved down 792.52 points to finish 231,900.30, the The junior market index jumped sharply by 57.28 points, to close at record 3,158.79 points and the the US dollar market index fell 7.46 points to end at 225.97.
Trading was boosted by a 12 million units that changed hands, of 138 Student Living preference share, to reach 15,737,390 units valued at $95,432,907 compared with the previous day with 8,079,039 units valued at $48,306,068, having changed hands, compared to 8,815,422 units valued at $83,003,765 changing hands on Monday. The junior market accounted for 1,021,882 units valued at over $6,003,095 of those trading. The US dollar market index traded 85,076 units valued at US$26,437.
The average trade for the day in the main market ended at 85,131 shares compared to an average of 219,185 units on Monday. For the month to date, an average of 132,046 shares compared to an average of 178,960 units up to the prior trading day. January ended with an average of 592,602 units.
The junior market ended trading with an average of 53,783 units with an average value of $315,952 traded, compared to of 110,117 units with an average value of $656,133 on the previous trading day. The average volume and value for the month to date ended at 258,010 units and $1,598,653 compared to 272,597 units and $1,690,274 to the previous day. The average volume and value for January, ended at 165,547 units and $884,749.
IC bid-offer Indicator| At the end of trading in the main and junior markets, the Investor’s Choice bid-offer indicator reading shows 6 stocks with bids higher than their last selling prices and none with a lower offer.

JSE main market sharp rise – Monday

C&W was Monday’s leading trade with the price rising at the close.

Trading in the main market of the Jamaica Stock Exchange closed on Monday with 24 securities changing hands, with 2 trading in the US dollar market. The main market indices rose sharply with 12 stocks advancing and 7 declining based on last traded prices in both markets.
The All Jamaica Composite Index jumped 1,994.33 points to close at 255,338.83, the JSE Market Index climbed 1,783.28 points to finish at 232,692.82.
In market activity, Cable and Wireless was the dominant trade on Monday with gains of 8 cents, closing at $1.35 with 4,252,222 units trading, Barita Investments closed at $6.85 trading 8,000 units, Berger Paints gained 39 cents to close at $11.89 with an exchange of 6,644 units, Caribbean Cement closed at $33 trading 28,862 shares. 1834 Investments lost 30 cents to close at $1.50 with 179,616 shares changing hands, Grace Kennedy advanced 82 cents to $41.67 with an exchange of 139,325 units, Jamaica Broilers closed higher at $16.25 with gains of $1.75 trading 17,260 shares, Jamaica Producers closed with gains of 76 cents to $18 with 16,235 units changing hands, Jamaica Stock Exchange slid 80 cents to close at $10 with 88,704 shares traded. JMMB Group advanced $2.39, closing at a 52 weeks’ closing high of $22.89 with an exchange of 37,142 units, Kingston Wharves gained $2.48 to close at $31 trading 7,683 units, Margaritaville Turks added 1 US cent to close at 36 US cents trading 746 shares, National Commercial Bank closed higher at $62.80, gaining $1.80, after swapping 18,090 shares, 138 Student Living closed at $4.60 with gains of 10 cents and 50,000 shares changing hands. Pan Jamaican ended trading at $39.50, advancing 50 cents with an exchange of 6,900 shares, Pulse Investments closed at $6.80 with 417 shares changing hands, Radio Jamaica closed at $1.90 trading 10,707 units. Sagicor Group closed lower at $35, losing 20 cents with trades of 102,185 units, while Sagicor Real Estate fund lost 20 cents to close at $11.30 with an exchange of 7,249 units. Scotia Group was down 10 cents, closing at $39 having traded 233,584 shares, Scotia Investments closed at $41, adding 1 cent trading 150 units, Supreme Ventures closed at $5.50 with an exchange of 35,482 shares, Proven Investments closed at 30 US cents, losing 2 US cents trading 51,537 ordinary shares, Jamaica Money Market Broker 7.5% preference share closed at $2.06 with 23,497 units changing hands and JMMB Group 7.5% preference share closed at $1.07 with trades of 100,000 units.

Juniors index inch higher on Monday

Caribbean Flavours traded at a new high of $13.50 on Monday.

The junior market inched higher at the close of trading on Monday, to close at 3,101.51 points after climbing a mere 5.05 points. the market closed with 24 securities changing hands, compared to 19 on Friday.
At the market’s close, 11 stocks rose while 8 declined as trading ended with 2,642,818 units valued at $15,747,182 passing through the market, compared to 5,212,444 units valued at over $33,772,710, on Friday. At the close 6 stocks had bids higher than their last sale prices and 2 with lower offers, than the last sale, while 1 stock closed at new 52 weeks’ high while one traded at an intraday high.
An average of 110,117 units with an average value of $656,133 traded, compared to of 274,339 units with an average value of $1,777,511 on the previous trading day. The average volume and value for the month to date ended at 272,597 units and $1,690,274 compared to 285,096 units and $1,759,823 to the previous day. The average volume and value for January, ended at 165,547 units and $884,749.
At the close of trading, AMG Packaging dropped $3.99 and closed at $24.01 with 4,835 units changing hands, Blue Power closed at $50.25 after gaining 24 cents with just 100 shares trading, Cargo Handlers lost 43 cents in trading 180 units, to close at $24.07, Caribbean Cream closed trading with 30,640 units at $8, after gaining by 75 cents. Caribbean Flavours rose $1 in trading 1,500 units to end at a new 52 weeks’ high of $13.50, Caribbean Producers closed trading with 46,522 units being exchanged at $4.60 for a loss of 5 cents, Consolidated Bakeries traded 50,000 shares, to close 5 cents higher at $4.05, C2W Music traded 6,683 units and fell 11 cents to 39 cents. Derrimon Trading ended at $7.20 with 38,400 shares changing hands, General Accident closed trading with 6,000 shares while rising 12 cents to end at $4.12, Honey Bun closed with 4,672 shares changing hands to end at $7, Jamaican Teas traded 3,031 shares to close at $8 after gaining by 18 cents. Jetcon Corporation closed trading $1 higher with 390,520 shares being exchanged to end at $11, Key Insurance traded 9,524 units, to close with a loss of 1 cent, at $2.89, KLE Group rose 20 cents and ended with 181 units changing hands, at $2.70, Lasco Distributors ended trading 110,000 units to close at $7.30, after adding 30 cents. Lasco Financial traded 412,200 shares changing hands, to end at $4.70, Lasco Manufacturing with 1,448,197 units changing hands, closed with a gain of 30 cents at $5, Main Event had 59,631 shares changing hands to close at $4.80. Medical Disposables lost 40 cents and closed at $7 with 4,704 shares changing hands, tTech gained 90 cents and closed trading with 513 units changing hands at $7.90, Eppley 9.5% preference share, ended with 300 units changing hands at $6.01 after falling by 2 cents and Eppley 10% preference share, ended with 300 units trading at $6.85.

Big Apartment complex for South Avenue

20 South Avenue just a few minutes walk to the heart of Half Way Tree square in Kingston, the former home of pre-owned car dealership operated by now Minister of Government, Daryl Vaz, is to be home to a major multi story apartment development.
The complex comprising what now looks like a ten story building, will include regular apartments and penthouses on 9 floors. IC Insider.com’s source states that the development comprises 90 apartments with Virtuoso being the architect who did the design. The property is owned by Commercial Centre Limited that is connected with Tewani Enterprises. The complex will comprise 1 bedroom, 2 bedroom and 3 bedroom penthouse units.
The property is currently screened off from prying eyes, but is decked out by a bright orange coloured crane for all to see, leading many to wonder what was going to be built on the site.
The property is within walking distance of one of the prime shopping areas in Kingston, including the popular Mega Mart store with it wide offerings. The project is being officially launched on Thursday.
The prices for the units are bound to set the standards for other new properties to be priced at within the Kingston area. The units come at a time when there has been some amount of stability in the value of the Jamaican dollar and low interest rates be paid on investments and could attract funds leaving these low yielding investments for a higher returns.

Increased FX cost for Jamaican banks

Bank of Jamaica announced changes to the cash reserves and liquid assets that deposit-taking institutions are required to hold against foreign currency liabilities effective March 1.
According to the central bank the change will see a three percentage points increase to the current requirement. The adjustment will be in two steps, beginning with an increase of two percentage points on the first business day in March 2017, with the remaining one percentage point will be effected on the first business day in April 2017.
The adjustment is aimed at reducing the incentive to hold foreign currency liabilities.
No change is being made to the reserve requirements applicable to Jamaican dollar prescribed liabilities.
During the last three months of 2016, Bank of Jamaica gradually increased the cash reserves and liquid assets requirements for foreign currency liabilities in the banking system to bring them in line with the reserve requirements for Jamaican dollar liabilities. This removed the bias in the structure of the reserves requirements that favoured foreign-currency deposits.
At December 2016, the cash and liquid assets reserve requirements were twelve per cent (12%) and twenty-six per cent (26%), respectively, for both foreign currency and Jamaican dollar liabilities. Remuneration for foreign currency cash reserves was also discontinued, bringing it into conformity with the treatment for Jamaican dollar cash reserves.
The net effect is that it will cost banks more to hold foreign currency than before and is likely to drive up lending rates for foreign currency loans. Depositors will most likely see a dip in the interest they currently earn on foreign exchange deposits. The move will mean more funds will be available in the market for either the build-up of the country’s reserves or a further strengthening in the value of the Jamaican dollar. Real estate and stocks will definitely benefit from the changes as well.
The change come partially, as commercial banks accumulated large pool of surplus foreign currencies since mid-2016, forcing the central bank to issue bands to pull the funds out of the system, as well as the fact that Jamaican have increasingly been dollarizing their financial activities.