Stocks on fire in Kingston

January 27, 2017 by

Bulls pushing Jamaican stock to new highs almost daily for 2017.

Prices surged on the main market of the Jamaica Stock Exchange on Friday resulted in the daily highest points gain in history of the market.
The huge move was the result mainly of sharp gains in the prices of National Commercial Bank, Scotia Group, Kingston Wharves, Jamaica Producers Group. It was a day when both the main market of the Jamaica Stock Exchange and the junior market closed at record levels as the bull market which had its genesis in late 2014, continues to build momentum with the supply of stocks on the wane, while demand builds.
At the close, the All Jamaica Composite Index jumped sharply by 9,082.60 points, to close at 226,121.49, the JSE Market Index surged 8,121.44 points to finish at 206,567.37 and the JSE combined index climbed 7,716.24 points to close at 220,633.57.
For the consecutive trading day, volume going through the market was moderate, with less than $100 million of trading. At the close, 2,882,798 units valued at $55,189,818 changed hands, compared to 3,687,829 units valued at $80,933,897 changing hands on Thursday. Of the stocks traded, the junior market accounted for 204,282 units valued at $1,106,948.
The market closed with 42 securities changing hands, with 24 stocks rising and 9 falling in the overall market, including 10 stocks rising and 2 falling, in the junior market. A total of 8 securities ended at new 52 weeks’ closing highs.
The average trade for the day in the main market, ended at 111,605 shares, compared to an average of 116,490 units traded on Thursday. For the month to date, an average of 201,775 shares traded compared to an average of 291,945 units on the previous trading day. The average for the month of December ended at 549,379 units.
IC bid-offer Indicator| At the end of trading in the main and junior markets, the Investor’s Choice bid-offer indicator reading shows 21 stocks with bids higher than their last selling prices and 3 with lower offers.
In market activity, Berger Paints gained just 1 cent to end a new closing high at $10.51 while trading 11,500 shares, Cable and Wireless ended with 137,034 units at $1.20, after rising 2 cents, Caribbean Cement dropped $2.60 in trading 79,400 shares in closing at $33.90. Carreras closed at $66.70 with 26,859 shares changing hands, 1834 Investments gained 4 cents in trading 2,419 units at $1.34, Grace Kennedy had 6,092 units trading to close at $40.64, after declining 1 cent, Jamaica Broilers rose 13 cents and closed at $15.13 with 4,787 shares changing hands. Jamaica Producers traded 27,986 shares after rising by $1 to end at a new high of $12.50, Jamaica Stock Exchange rose 10 cents to close at $5.60, having traded 127,613 shares, JMMB Group jumped to a new closing 52 weeks’ high of $16 in trading 27,146 units, after rising by 50 cents. Kingston Wharves jumped sharply by $6.25, to end trading with 6,500 units and closed at 52 weeks’ high of $34, Mayberry Investments traded 500,000 shares with gains of 25 cents, to close at $5.25, National Commercial Bank surged $5.98 to close at an all-time high of $58 after swapping 38,550 shares. 138 Student Living traded 100,000 units at $4.50, Pan Jamaican shed 10 cents and closed at $29.90, with 765,562 units traded, Portland JSX closed at $9 while trading 6,000 units, Pulse Investments traded 42,700 units, falling 13 cents to close at $5.17 after it traded at an intraday high of $5.65. Radio Jamaica lost 5 cents, closing at $1.30 with 35,778 shares traded, Sagicor Group closed with 8,935 shares changing hands, with a fall of 99 cents to $19.01, Sagicor Real Estate Fund gained 50 cents in trading 9,333 units and closed at $10. Scotia Group, with 470,682 shares changing hands jumped $2.89 cents to a 52 weeks’ closing high of $39. Supreme Ventures gained 11 cents in trading 39,240 shares to close at $5.21 and JMMB Group 7.50% preference shares traded 200,000 units to close at $1.10.

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Huge gains for Jamaican stocks

January 27, 2017 by

The Jamaica stock market, recorded the highest points gain in trading on Friday, with some big moves in the prices of National Commercial Bank, Scotia Group, Kingston Wharves and Jamaica Producers Group as some of the main movers contributing in a major way to the gains in the main market indices.
In the process the all All Jamaica Composite Index jumped sharply by 9,082.60 points to close at 226,121.49 and the JSE Market Index surges 8,121.44 points to finish at 206,567.37.
A combination of factors helped in the big move. The bullishness of the market is coming at a time of very low supplies for a number of stocks, including the four mentioned above, while NCB reported record profit for their December quarter, with a jump of 49 percent, to $3.56 billion, helping in moving the price from $52.02 at the close on Thursday to $58. The bank also announced increased dividend payment, from 50 cents per share in 2016 to 60 cents being paid in February.
The gain on Friday was the biggest daily increase, but in percentage terms, it sits in at the 5th largest daily gain.

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

Juniors inched higher to new record close

January 25, 2017 by

The junior market ended trading on Wednesday with a new closing high, with index staying above the 2,800 points level and held on for a moderate gain of 4.05 points at the close to end at 2,808.74, after rising as high as 2,830.08 points in the morning session.
The junior market trading ended with 19 security trading versus 14 that traded on Tuesday. Trading ended with prices of 7 stocks gaining and 7 declining. Five stocks closed at new highs during the day. The volume of stocks changing hands, ended at 6,155,150 units valued at $25,573,851, compared to 1,319,304 units changing hands valued at $8,881,627, on Tuesday.
An average of 323,955 units with an average value of $1,345,992 traded, compared to 94,236 units with an average value of $634,402 on the preceding trading day. The average for the month to date is 195,282 units with an average value of $1,013,387 versus 187,240 units with an average value of $1,032,952 for the previous trading day. The average for December ended at 131,147 units, with an average of $672,488.
The market closed with 11 stocks with bids higher than their last sale and one with a lower offer than the last sale.
At the close of trading, AMG Packaging closed at $22.60 with 15,614 units changing hands, Cargo Handlers gained 85 cents to end at $20.85, after 25,084 shares were traded, Caribbean Cream closed trading at $7.30 with 313,200 units changing owners, Caribbean Flavours lost $1.20 in trading 10,000 units to end at $10. Caribbean Producers traded 142,593 shares but fell 20 cents to $4.15, Consolidated Bakeries lost 25 cents and ended at $2.60 with 572,882 shares changing hands, Derrimon Trading ended at $5.90 with 26,700 shares changing hands, after rising 39 cents, Dolphin Cove ended at $13.50 with 7,072 shares trading, in recording a loss of 50 cents. General Accident traded at a 52 weeks’ intraday high of $3.50 but gained 5 cents at the close of trading with 49,657 shares at $3, Honey Bun fell 23 cents and closed with 5,130 shares having changed hands at $6.65, Jamaican Teas lost 25 cents to end at $8 with 25,565 shares being exchanged. Jetcon Corporation closed trading with 26,500 shares, to end with a rise of 30 cents at $10.30, KLE Group ended with 1,868 units changing hands at $2.20, Lasco Distributors ended trading with 43,100 units changing hands and gained 10 cents to end at $7.30. Lasco Financial had 51,904 shares changing hands and rose 15 cents to end at $3.80, Lasco Manufacturing with 96,444 units changing hands closed at $5.20, Medical Disposables gained 85 cents to end at $5.55 with 26,424 shares trading. Paramount Trading closed at $3.20 with 2,200 shares changing hands and Sweet River Abattoir with 4,713,213 units trading, lost 1 cent to end at $3.85

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

JSE majors shoot to 215,646 points

January 24, 2017 by

Kingston Wharves traded at a new high of $27.75 on Tuesday.

The main market of the Jamaica Stock Exchange, having broken through the 214,000 mark at the close on Monday shot well through the 215,000 mark on Tuesday to end at yet another new high. Advancing stocks were twice as many as declining ones in the overall market.
The market enjoyed another day of good volumes, with values exceeding $273 million, as the market continues to trade above the $240,000 market for the fourth consecutive day.
The market closed with 40 securities changing hands, 19 stocks gained and 9 declined in the overall market, including 9 stocks rising and 3 falling, in the junior market. A total of 8 securities ended at new 52 weeks’ closing highs.
At the close the All Jamaica Composite Index gained 1,486.31 points to close at 215,646.20. The JSE Market Index rose 1,329.03 points to finish at 197,200.62 and the JSE combined index climbed 1,462.70 points to close at 211,694.92.
At the close with 10,692,647 units valued at $273,030,077 changed hands, compared to 20,100,275 units valued at $241,271,357 changing hands on Monday. Of the stocks traded, the junior market accounted for 1,319,304 units valued at $8,881,627.
The average trade for the day in the main market ended at 360,513 shares compared to an average of 958,319 units traded on Monday. An average of 659,416 units traded for the month to date, versus 736,679 units on the previous trading day, compared with an average of 549,379 units, December ended with.
IC bid-offer Indicator| At the end of trading in the main and junior markets, the Investor’s Choice bid-offer indicator reading shows 12 stocks with bids higher than their last selling prices and 2 with lower offers.
In market activity, Barita Investments fell 55 cents while trading 38,200 units to end at 5.75, Berger Paints was pushed by 51 cents to a new closing high of $8.50 while trading 10,000 shares. Cable and Wireless ended with 367,430 units at $1.20, after gaining 1 cent, Caribbean Cement traded 3,575 shares to close at $30.52. Grace Kennedy had 51,319 units trading to close at $40.50, gaining 2 cents, Jamaica Broilers lost 22 cents and closed at $15.25 with 4,936 shares changing hands, Jamaica Producers traded 54,929 shares, losing $1 to end at $10. Jamaica Stock Exchange traded 119,310 shares at $5.60, JMMB Group traded 301,370 units at $15.31, Kingston Wharves ended up trading 400 units to close at a 52 weeks’ high of $27.75, after gaining $2.74. National Commercial Bank added 60 cents in swapping 2,430,916 shares to close at $52.60, Pan Jamaican gained 20 cents to close at $29.95 with 3,593,683 units traded, Portland JSX lost 1 cent to close at $9.00 while trading 4,000 units. Pulse Investments traded 30,000 units and closed at $4.35, Radio Jamaica ended at $1.40 with 137,162 shares trading, Sagicor Group had 490,590 shares changing hands, with a gain of 3 cents to end at $29.03, Sagicor Real Estate fund lost 70 cents in trading 8,525 units to close at $9.50, Scotia Group, with 17,550 shares changing hands, gained 50 cents to close at $36. Sterling Investments traded just 800 units but rose 5 cents to end at a 52 weeks’ high of $15.75, Supreme Ventures lost 11 cents in trading 1,498,655 shares to close at $5.10, Proven Investments traded 400 ordinary shares to close at 23 US cents and JMMB Group 7.5% preference share ended with 18,000 units trading at $2.15 after gaining 4 cents.

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5 new junior high at 2,804 points rocord

January 24, 2017 by

Blue Power traded at a new high of $40.40.

The junior market ended trading on Tuesday with a new closing high, with index shooting above 2,800 points level and held on to gain 22.40 points at the close to end at 2,804.69.
The junior market trading ended with 14 security trading versus 14 that traded on Monday. Trading ended with prices of 9 stocks gaining and 3 declining. Five stocks closed at new highs during the day. The volume of stocks changing hands, ended at 1,892,208 units valued at $8,881,627, compared to 1,892,208 units changing hands valued at $12,483,279, on Monday.
An average 94,236 units with an average value of $634,402 traded, compared to 135,158 units with an average value of $891,663 on the preceding trading day. The average for the month to date is 187,240 units with an average value of $1,013,387 versus 193,440 units with an average value of $1,038,653 on Monday. The average for December is 131,147 units, at an average of $672,488.
The market closed with 8 stocks with bids higher than their last sale and one with a lower offer than their last sale.
At the close of trading, Access Financial Services gained 10 cents in trading traded 4,000 units to close at an all-time high of $25.30, after it traded earlier at and all time high of $26.55. AMG Packaging gained $1.60 to close at $22.60 with 3,350 units changing hands, Blue Power close at a new all-time high of $40.40 to gain $3.40 while traded 2,500 shares. Caribbean Cream rose 20 cents and closed trading at $7.30 with 792,369 units trading, Caribbean Producers, traded 5,000 shares and rose 20 cents to $4.35. Consolidated Bakeries added 30 cents and ended at new high of $2.90 with 10,000 shares changing hands, Dolphin Cove ended at $14 with 3,540 shares trading, Honey Bun closed with 124,824 shares changed hands at $6.88, Jamaican Teas jumped 65 cents to end at a new closing high of $8.25 with 32,521 shares being exchanged. Jetcon Corporation traded at an all-time high of $11 in the morning session, but closed trading with 49,554 shares, to end with a fall of 30 cents at $10, Lasco Distributors ended trading with 50,000 units changing hands and fell 10 cents to end at $7.20, Lasco Financial with 20,919 shares changing hands, rose 5 cents to end at $3.65. Lasco Manufacturing with 112,627 units changing hands rose 10 cents to close at $5.20 and Paramount Trading fell 10 cents to close at $3.20 with 108,100 shares changing hands.

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

TCL at $5.50 as investors spurn Cemex

January 20, 2017 by

Trinidad Cement closed at a 52 weeks’ high on Friday.

Trinidad Cement share price hit a new high of $5.50 by rising 40 cents to a 52 weeks’ closing high of $5.50 with 88,796 transactions valued at $483,135 on the Trinidad & Tobago Stock Exchange on Friday.
At the close there was a bid to buy 1,924,850 units at $5.50, with only 122,886 units on offer at $5.60. The closing prices are the clearest message that investors are not impressed with the final offer price of $5.07 by Cemex. The closing price on Friday is still lower than the $5.60 to $6.18, Ernst and Young placed on the stock.
The market traded a mere 7 securities in contrast to 12 on Thursday leading to 5 stocks advancing, 2 holding firm and none declining. There were 182,914 units exchanged at a value of $736,886 compared to 382,443 shares valued at $3,889,464 on Thursday.
Trading ended with all three indices climbing to their highest, since the start of 2017. The Composite Index advanced 2.87 points to 1,219.86 points, the All T&T Index rose 2.40 points to 1,837.94 points and the Cross Listed Index gained 0.45 points to 80.49 points.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with 8 stocks with bids higher than last selling prices and 9 with lower offers.
Gains| Clico Investment added 1 cent to close at $22.51 with an exchange of 1,000 shares, JMMB Group closed trading at a 52 weeks’ closing high of $1.10, gaining 4 cents with 50,000 transactions being executed, the closing price equates to J$21 well above the J$15.31 it sold for in Jamaica on Friday. Sagicor Financial advanced 5 cents, closing at a 52 weeks’ closing high of $8.15 with 300 units changing hands, Trinidad & Tobago NGL was up 2 cents to $20.52 with 1,000 shares traded.
Firm Trades| National Flour Mills was unchanged at $2.40 with 40,879 shares changing hands and Scotiabank held firm at $58.75 with 939 units changing ownership.

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

Jamaica’s 2017 inflation to beat 2016 – 1.7%?

January 18, 2017 by

Fuel prices at the pumps in May 2015.

Inflation in Jamaica for 2016, fell to the lowest level in decades, with the Consumer Price Index showing inflation rate at just 1.72 percent for the year. The findings were released by Statistical Institute of Jamaica.
The inflation rate for 2017 could be even lower than that of 2016, if the historical patterns repeat. The 2016 out turn compares with 3.7 percent recorded for 2015. The rate for December 2016 was 0.3 percent and is just below the average of fiscal year-to-date movement of 3.1 percent to December 2016.
The rate for 2016 would have been even less, had it not been for increased taxes imposed by the government on a series of items in the first half of the year. The added increase from taxes should not recur in 2017 as revenues are running well ahead of target for the 2017 fiscal year and a pickup in growth should see a healthy increase in revenues for the new fiscal year.
In 2016, inflation in Jamaica, benefited from a continuation in tight fiscal policies, pursued by the government, but it would have been negatively affected by slippage in the exchange rate of the Jamaican dollar versus the US dollar. Moderation in energy prices helped as well.
Going forward, the country should continue to benefit from relatively low energy prices a more stable exchange rate of the Jamaican dollar as foreign exchange inflows remain strong.
Data going back to 2002 suggests that the first two months of the year tend to have flat to negative inflation. In 2015 inflation remained below the December 2014 level until April and just inching ahead in May. In 2016 it remained below the December 2015 level until July.

Filed Under: Economy, Feature Stories Tagged With: , , , ,

Jamaican stocks close at new high on Monday

January 16, 2017 by

Seprod closed at 52 weeks’ high on Monday of $30.40.

The main market of the Jamaica Stock Exchange, made major gains to close out Monday with advancing stocks beating out declining ones 3 to 2 as the combined index ended at a record close.
At the close the All Jamaica Composite Index jumped 2,649.71 points to close at 213,639.56 and is just 9 points adrift from the all-time high reached on January 6. The JSE Market Index surged 2,369.31 points to finish at 195,406.33 or 8 points below the high on the 6th of January. Thanks to moderate gains in the junior market, the JSE combined index climbed 2,217.41 points to close at an all-time high of 209,586.63.
The market closed with 40 securities changing hands, 16 stocks gained and 11 declined in the overall market, including 7 stocks rising and 3 falling, in the junior market.
At the close with 24,599,887 units valued at $157,873,358 changed hands, compared to 34,147,320 units valued at just $169,240,005 changing hands on Friday. Of the stocks traded, the junior market accounted for 7,394,074 units, changing hands, valued at $28,781,077.
The average trade for the day in the main market ended at 688,233 shares compared to an average of 1,241,085 units traded on Friday. The average for the month to date, is 840,062 versus 991,892 units on the previous trading day, well below the average of 549,379 units, December ended with.
IC bid-offer Indicator| At the end of trading in the main and junior markets, the Investor’s Choice bid-offer indicator reading shows 11 stocks with bids higher than their last selling prices and 2 with lower offers.
In market activity, Berger Paints ended trading of 616,346 shares to close at $6, Cable and Wireless ended with 1,036,695 units at $1.15, after gaining 7 cents, Caribbean Cement ended with a fall of $3 while trading 36,007 shares to close at $33, Carreras closed at $66.75 with, 9,147 shares changing hands. Grace Kennedy had 37,432 units trading, with the price falling 35 cents, to close at $40.10, Jamaica Broilers rose by 50 cents and closed at $15.50 with 1,161,456 shares changing hands, Jamaica Producers traded 88,336 shares to end at $9.50, Jamaica Stock Exchange traded 405,100 shares, to end at $5.60, JMMB Group traded 1,148,746 units to end at $15.20. 1 Kingston Wharves gained 44 cents in trading 6,985 units to close at $24.99, National Commercial Bank traded 11,735 shares to close at $52, investors swapped 8,566,723 units of 138 Student Living at $4.50. Pan Jam Investment traded just 950 units with the price jumping $3.40 to end at a 52 weeks’ closing high of $30, Portland JSX traded 2,000 units to end with a gain of 75 cents at $11. Sagicor Group closed with 254,756 shares changing hands with a loss of 83 cents at $28.21, Scotia Group with 35,233 shares changing hands, rose 98 cents to close at $36, Scotia Investments gained $1 with 114,529 units trading, to end at $32.50, Seprod traded 334,564 shares to gain 40 cents in closing at a 52 weeks’ high of $30.40. Supreme Ventures lost 11 cents and traded 3,224,068 units at $5.29, Proven Investments traded 25,000 ordinary shares to close at 21.99 US cents, JMMB US 6% preference share ended at US$1.09, with 36,325 units changing hands and JMMB 7.25% preference share ended at $1.50, with 64,216 units being traded.

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

8 unbroken days of record close for juniors

January 16, 2017 by

Jetcon ends at a new closing high of $9 on Monday.

The junior market closed on Monday, with eight continues days of gains and 7 days of recording closing highs. At the end with market index gaining just 1.69 points to 2,761.46 with 1 security ending trading at an all-time closing high. The market trades around a resistance level currently and may need a big push to move it into safe territory.
At the close of trading on Monday the prices of 7 stocks rose, 3 declined with 15 securities trading, compared to 18 trading on Friday. Volume of stocks traded jumped 293 percent, from Friday’s low level, ending with a volume of just 1,879,103 units, changing hands, valued at $28,781,077, with a jump of 125 percent from $12,784,650 on Friday.
An average of 492,938 units with an average value of $1,918,738 traded, compared to 104,395 units with an average value of $710,258 on the preceding trading day. The average for the month to date is 122,333 units with an average value of $586,914 versus 81,154 units with an average value of $438,934 on Friday. The average for December is 131,147 units, at an average of $672,488.
The market closed with 9 stocks with bids higher than their last sale and 1 with a lower offer, than their last sale.
At the close of trading, Cargo Handlers gained 10 cents to end at $21, after 9,324 shares traded, Caribbean Cream closed trading at $7 with 47,823 units trading after trading earlier at $6.55. Caribbean Producers, traded 510,000 shares and rose 20 cents to $3.80, Caribbean Flavours rose 15 cents with just 100 units being exchanged, to end at $11.95, General Accident Insurance traded 4,423,793 shares and lost 10 cents to end at $2.90. Honey Bun with 6,643 shares changing hands, resulted in a gain of 1 cent to close at $6.20, Jamaican Teas ended with 8,000 shares being exchanged at $5.30. Investors reacted positively to an announcement by Jetcon Corporation of a the board’s planned consideration of a dividend and stock split, as they drove the stock up by a $1 to a new high of $8 in trading, shortly after opened and then up to $9 where trading was frozen for an hour. Trading resumed at 11:38 to close with 298,610 units trading with a gain of $2 at a new closing high of $9. KLE Group ended with a loss of 30 cents as 5,193 units changed hands at $2.20. Lasco Distributors ended with 105,586 units trading, to close 17 cents higher at $7.20, Lasco Financial had 5,672 shares changing hands, to end at $3.70. Lasco Manufacturing ended at $5.15, with 1,732,918 units trading, Medical Disposables closed at $4.50 with 8,000 shares changing hands, Paramount Trading ended with 51,728 shares changing hands at $3.12 with a loss of 43 cents and tTech traded 180,684 shares and rose 10 cents to close at $6.

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

Paramount exits TOP 5 overvalued stocks

January 16, 2017 by

Paramount

Paramount Trading is out of the TOP 5 junior stocks to avoid, even as it just reported reduced profits for both the first and second quarters of 2017 fiscal year. Second quarter earnings slipped from $47 million to $37 million and for the year to date, it fell from $89 million to $52 million.
Iron Rock Insurance entered the junior list as operating results fall behind forecast.
There seems to be little rationale for Cargo Handlers to be selling at a PE of 35 based on estimated 2017 earnings and worse 51 times 2016 earnings. The stock is selling well in excess of the average market and the next highest valued in the junior market, Honey Bun that is at a PE of 21, based on 2016 earnings but a more moderate 14 times projected 2017 earnings.
It not surprising that Cargo Handlers heads the list of most overvalued stocks on both the main and junior market, followed by Kingston Wharves and 138 Student Living.
Iron Rock projected losses in the prospectus for 2016 of $30 million and a small profit of $3 million which includes foreign exchange gains of $7 million in 2018. Year to date losses to September last year, are running well ahead of the prospectus’ forecast with losses of $38 million with the September quarter’s losses ended at $14 million. More worrying is that projections of gross premium income of $169.36 million in 2016 rising to $414.97 in 2017 are well off what seems to be occurring in 2016 with results for the nine months showing gross premium of just $59 million well below forecast by $110 million. With all of this happening investors pushed the stock up to $4 for a premium above the listed price.

Filed Under: Buy Rated, Feature Stories, General Business News Tagged With: , , , , , ,