Stocks mostly gained at the close of trading on the Jamaican Stock Exchange on Thursday as 51 securities changed hands in the overall market, ending with 21 stocks rising and 17 falling. At the close 7 stocks gained and 6 declined from the junior market as 3 securities ending at new 52 weeks’ closing highs.
The All Jamaica Composite Index rose 358.25 points to close at 252,603.20, the JSE Market Index gained 320.34 points to finish at 230,246.68 and the JSE combined index lost 207.72 points, to close at 244,630.09.
At the close, 8,545,755 units valued at $87,407,183 changed hands, compared to 14,119,849 units valued at $235,690,329 changing hands on Wednesday. The junior market accounted for 5,009,146 units valued at over $29,141,927 of those trading.
The average trade for the day in the main market ended at 95,844 shares compared to an average of 237,979 units on Wednesday. For the month to date, an average of 154,517, shares compared to an average of 213,191 units up to the prior trading day. January ended with an average of 592,602 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 7 stocks with bids higher than their last selling prices and 5 with a lower offers.
In market activity, Barita Investments lost 38 cents to close at $7.52 trading 2,755 units, Berger Paints closed at $11.50, for a loss of 50 cents with 18,356 shares changing hands, Cable and Wireless gained 2 cents to close at $1.30 with an exchange of 809,255 units, Caribbean Cement closed at $33 trading 10,032 shares. Carreras closed at $69 with trades of 1,135 units, 1834 Investments lost 10 cents, closing at $2 with 168,582 shares changing hands, and Grace Kennedy closed at $41, gaining $1 with an exchange of 87,622 units. Jamaica Broilers closed $2 higher to $16 trading 20,237 shares, Jamaica Producers lost 55 cents and closed at $17.45 with 97,629 units changing hands, Jamaica Stock Exchange added 1 cent to close at $10 with 444,930 shares traded, JMMB Group advanced 50 cents, in closing at $20 with an exchange of 444,930 units. Kingston Wharves rose to $31 with a gain of $2.99 trading 30,200 units, Margaritaville Turks lost 4 cents and closed at 35 US cents trading 4,500 shares, Mayberry Investments lost 33 cents to close at $5.40 with 9,000 shares changing hands and National Commercial Bank closed at $63, losing $1, after exchanging 95,008 shares. 138 Student Living closed at $4.50 with 500,000 units traded, Pan Jamaican ended trading at $40.75 with a loss of 25 cents and an exchange of 67,789 shares,
Portland JSX gained 2 cents to close at $10.53 with an exchange of 4,000 shares. Pulse Investments closed at $6.90 with gains of 40 cents and 12,000 shares changing hands, Radio Jamaica lost 2 cents and closed at $1.90, trading 58,396 units, Sagicor Group climbed to a 52 weeks’ high of $35.57, gaining 57 cents with trades of 34,750 units, Sagicor Real Estate fund closed at $11.50 with an exchange of 45,615 units. Salada closed at $9.24 trading 2,990 shares, Scotia Group slid to $39.50 with a loss of $1.50 having traded 45,086 shares, Scotia Investments added 99 cents to close at $40.99 trading 11,500 shares. Supreme Ventures closed at $5.70, with trades of 92,605 units, Proven Investments closed at 32 US cents trading 355,925 ordinary shares and JMMB Group 7.5% preference share, lost 1 cent with trades of 178,840 units to close at $1.09.
More retreat for Jamaican stocks – Wednesday
February 15, 2017 by
Carreras climbed to a 52 weeks’ high of $69.
The market closed Wednesday, with 11 stocks gaining and 7 declining coming from the junior market as 5 securities ending at new 52 weeks’ closing highs.
The All Jamaica Composite Index dropped 1,229.08 points to close at 252,244.95, the JSE Market Index fell 1,099.01 points to finish at 229,926.34 and the JSE combined index lost 1,039.04 points, to close at 244,837.81.
At the close, 14,119,849 units valued at $235,690,329 changed hands, compared to 9,830,806 units valued at $174,930,678 changing hands on Tuesday. Of the stocks traded, the junior market accounted for 6,418,006 units valued at over $39,202,136.
The average trade for the day in the main market ended at 237,979 shares compared to an average of 210,760 units on Tuesday. For the month to date, an average of 213,191 shares compared to an average of 188,403 units up to the prior trading day. January ended with an average of 592,602 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 13 stocks with bids higher than their last selling prices and 2 with a lower offers.In market activity, Barita Investments lost 10 cents to close at $7.90 trading 2,835 units, Berger Paints closed at $12 with 7,273 shares changing hands, Cable and Wireless closed 1 cent lower to $1.28 with an exchange of 776,377 units, Caribbean Cement climbed to $33, gaining $2.70 trading 19,900 shares. Carreras closed higher by $1 to close at a 52 weeks’ high of $69, with 1,000 units traded, 1834 Investments lost 10 cents to close at $2.10 with trades of 27,610 shares, Grace Kennedy closed at $40, losing 50 cents with 203,000 units changing hands. Jamaica Broilers slid $2.15, closing at $14 trading 104,910 shares, Jamaica Producers closed at $18, losing $2.75 with 90,696 units changing hands, Jamaica Stock Exchange gained 49 cents to close at $9.99 with 178,875 shares traded, JMMB Group lost 5 cents to close at $19.50 with an exchange of 431,825 units. Kingston Wharves closed lower to $28.01 with a loss of $2.99 trading 1,397 units, Mayberry Investments closed at $5.73 with 8,343 shares changing hands and
PanJam Investment climbed $1 in trading on Wednesday.
Jamaican stocks down again on Tuesday
February 14, 2017 by
Jamaica Broilers traded at a new high on Tuesday
The market closed Tuesday, with 11 stocks gaining and 7 declining coming from the junior market as 6 securities ending at new 52 weeks’ closing highs.
The All Jamaica Composite Index dropped 750.62 points to close at 254,224.65, the JSE Market Index fell 671.19 points to finish at 231,025.35 and the JSE combined index lost 849.58 points, to close at 245,876.85.
At the close, 9,830,806 units valued at $174,930,678 changed hands, compared to 17,383,764 units valued at $129,272,080 changing hands on Monday. Of the stocks traded, the junior market accounted for 3,740,128 units valued at over $70,476,295.
The average trade for the day in the main market ended at 210,760 shares compared to an average of 179,527 units on Monday. For the month to date, an average of 188,403 shares compared to an average of 166,045 units up to the prior trading day. January ended with an average of 592,602 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 9 stocks with bids higher than their last selling prices and 1 with a lower offer.In market activity, Barita Investments gained 30 cents to close at a 52 weeks’ high of $8, while trading 96,986 units, Berger Paints exchanged 59,653 shares at $12, Cable and Wireless closed 4 cents higher to $1.29 with 462,009 units changing hands, Caribbean Cement lost 30 cents to close at $30.30 with trades of 85,064 shares. Carreras closed at a 52 weeks’ high of $68, gaining $1 with 16,633 units traded, 1834 Investments added 5 cents to close at $2.20 with trades of 88,628 shares, Grace Kennedy closed at $40.50, losing 15 cents with 2,650,225 units changing hands. Jamaica Broilers lost 10 cents, closing at a 52 weeks’ high of $16.15 trading 18,902 shares, Jamaica Producers declined by 97 cents to close at $20.75 with 168,975 units changing hands, Jamaica Stock Exchange closed at $9.50, losing $1 with 281,670 shares traded and JMMB Group lost 5 cents to close at $19.55 with an exchange of 68,103 units. Kingston Properties ended at $10 trading 23,048 shares, Kingston Wharves declined 50 cents, closing at $31 with trades of 115,240 units, Margaritaville Turks gained 4 cents to close at 39 US cents, trading 4,000 shares,
Barita closed at a new high on Tuesday.
Jamaican stocks down sharply on Monday
February 13, 2017 by
Jamaica Stock Exchange dropped to $10.60
The market closed Monday, with 6 stocks gaining and 15 declining coming from the junior market as 6 securities ending at new 52 weeks’ closing highs.
The All Jamaica Composite Index dropped 3,171.06 points to close at 254,224.65, the JSE Market Index dived 2,835.48 points to finish at 231,696.54 and the JSE combined index plunged 3,008.67 points, to close at 246,726.43.
At the close, 17,383,764 units valued at $129,272,080 changed hands, compared to 23,308,737 units valued at $169,240,005 changing hands on Friday. Of the stocks traded, the junior market accounted for 13,224,639 units valued at over $70,476,295.The average trade for the day in the main market ended at 179,527 shares compared to an average of 116,707 units on Friday. For the month to date, an average of 166,045 shares compared to an average of 152,563 units up to the prior trading day. January ended with an average of 592,602 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 20 stocks with bids higher than their last selling prices and 2 with lower offers.
In market activity, Berger Paints traded 145,500 shares at $12, Cable and Wireless closed at $1.25 trading 758,788 units, Caribbean Cement closed at $30.60, losing $2.40 with an exchange of 18,000 shares. Carreras traded 20,128 units and closed at $67, trading in 1834 Investments ended with an increase of 3 cents to close at $2.15 with 254,139 shares changing hands, Grace Kennedy closed at $40.65 with 70,634 units changing hands. Jamaica Broilers closed at $16.25 with an exchange of 18,057 shares, Jamaica Producers advanced $1.72 to close at a 52 weeks’ high of $21.72 with 59,292 units changing hands, Jamaica Stock Exchange dropped $3 and closed at $10.50 with 163,955 shares traded,
JMMB Group gained 10 cents to close at $19.60 with 336,314 units traded. Kingston Wharves dropped $2 to close at $31.50 with trades of 7,065 units, Mayberry Investments gained 25 cents, closing at $5.75 with 54,645 shares changing hands, National Commercial Bank added 10 cents to close at $65, after swapping 26,583 shares. 138 Student Living traded 438,159 units at $4.50, Pan Jamaican ended trading at a 52 weeks’ high of $44, gaining $4 with an exchange of 35,183 shares. Radio Jamaica gained 2 cents and closed at $1.70 trading 345,833 units, Sagicor Group closed at $35.50 with trades of 34,157 units, Sagicor Real Estate fund closed at $11.50, gaining $1.50 with an exchange of 3,550 units, Scotia Group closed at $43.10, having traded 276,859 shares. Supreme Ventures closed at $5.70 with 625,973 shares traded and Proven Investments gained 2 US cents trading 389,057 ordinary shares to close at 32 US cents.
Jamaican stocks hit new highs – Friday
February 10, 2017 by
Bulls pushed stocks higher on Friday, with the all market indices moving to new record highs on the Jamaica Stock Exchange with 56 securities changing hands in the overall market ending with 25 stocks rising and 13 falling.
The market closed Friday, with 10 stocks gaining and 4 declining coming from the junior market as 6 securities ending at new 52 weeks’ closing highs.
The All Jamaica Composite Index rose 646.51 points to close at record 257,395.71, the JSE Market Index gained 578.09 points to finish at record close of 234,532.02 and the JSE combined index climbed 740.72 points, to close at new closing high of 249,735.10. The movement of the main market, for the year to date, resulted to gains of 22.5 percent, for the all Jamaica Composite Index, with the JSE Market Index up 22 percent. The moves in the indices are subject to change as the stock exchange daily postings indicate that there are errors in the reports since the new trading system was activated on Monday.
At the close, 23,308,737 units valued at $169,240,005 changed hands, compared to 13,502,301 units valued at $146,199,269 changing hands on Thursday. Of the stocks traded, the junior market accounted for 18,452,895 units valued at over $81,504,636.
The average trade for the day in the main market ended at 116,707 shares compared to an average of 200,657 units on Thursday. For the month to date, an average of 152,563 shares compared to an average of 188,419 units up to the prior trading day. January ended with an average of 592,602 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 12 stocks with bids higher than their last selling prices and none with lower offers.
In market activity, Berger Paints traded 9,118 shares at $12, Cable and Wireless gained 11 cents to close at $1.25 trading 594,541 units, Caribbean Cement closed at $33, gaining $1 with an exchange of 34,000 shares. Carreras traded 21,609 units, gaining 1 cent and closed at $67, investors pushed 1834 Investments higher by 26 cents to $2.12 with 44,419 shares trading, Grace Kennedy closed at $40.65, gaining 65 cents with trades of 83,470 units. Jamaica Broilers closed at $16.25 with an exchange of 76,657 shares, Jamaica Producers declined by $1 to close at $20 with 168,659 units changing hands, Jamaica Stock Exchange climbed to a 52 weeks’ closing high of $13.50, gaining $2.90 with 132,518 shares traded,
Jamaica Stock Exchange climbed to a 52 weeks’ closing high of $13.50.
17 new highs for JSE stocks on Thursday
February 9, 2017 by
Scotia Group was one of 17 stocks to close at a 52 weeks’ high on Thursday.
The market closed Thursday, as 48 securities changed hands in the overall market, ending with 26 stocks rising and 12 falling, including 16 stocks gaining and 3 declining, in the junior market.
The All Jamaica Composite Index surged 7,266.97 points to close at record 256,749.20, the JSE Market Index jumped 6,497.96 points to finish at record close of 227,455.97 and the JSE combined index climbed sharply by 6,919.27 points, to close at new closing high of 248,994.38. The movement of the main market, for the year to date, resulted to gains of 22.2 percent, for the all Jamaica Composite Index, with the JSE Market Index up 18.7 percent. The moves in the indices are subject to change as the stock exchange daily postings indicate that there are errors in the reports since the new trading system was activated on Monday.
At the close, 13,502,301 units valued at $265,917,085 changed hands, compared to $146,199,269 units valued at $265,917,085 changing hands on Wednesday. Of the stocks traded, the junior market accounted for 7,916,160 units valued at over $42,290,565.The average trade for the day in the main market ended at 200,657 shares compared to an average of 355,210 units on Wednesday. For the month to date, an average of 188,419 shares traded compared to an average of 176,182 units up to the prior trading day. January ended with an average of 592,602 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 11 stocks with bids higher than their last selling prices and 6 with lower offers.
In market activity, Berger Paints advanced $1.75 to a new 52 weeks’ high of $12, while trading 6,101 shares, Cable and Wireless lost 3 cents to close at $1.14 with trades of 273,176 units, Caribbean Cement closed at $32 with an exchange of 124,119 shares. Carreras traded 18,307 units, gaining 24 cents and closed at $66.99, Investors pushed 1834 Investments up by 16 cents to close at $1.86 in trading 28,194 shares, Grace Kennedy closed at $40, in losing 65 cents with trades of 33,486 units. Jamaica Broilers gained 25 cents with an exchange of 21,495 shares to close at 52 weeks’ high of $16.25, Jamaica Producers advanced $1.50 to close at 52 weeks’ high of $21 with 37,466 units changing hands, Jamaica Stock Exchange gained 60 cents to close at 52 weeks’ high of $10.60 with 21,813 shares traded. JMMB Group lost 1 cent to close at $19.99 with 61,718 units traded, Kingston Wharves closed at $30 with trades of 8,200 units, Mayberry Investments lost 10 cents to close at $5.80 with 251,786 shares changing hands,
Proven Investments traded at a new high on Thursday.
26 JSE stocks rise & 11 fall – Wednesday
February 8, 2017 by
Jamaica Stock Exchange jumped to a 52 weeks’ high of $12 on Wednesday.
The market closed Wednesday, as 49 securities changed hands in the overall market, ending with 26 stocks rising and 11 falling, including 16 stocks gaining and 3 declining, in the junior market while 14 securities ended at new 52 weeks’ closing highs.
The All Jamaica Composite Index gained 714.88 points to close at record 249,482.23, the JSE Market Index rose 639.22 points to finish at record close of 227,455.97 and the JSE combined index increased by 601.83 points, to close at new closing high of 242,075.11. The movement of the main market, for the year to date, resulted to gains of 18.5 percent, for the all Jamaica Composite Index, with the JSE Market Index up 18.7 percent. The moves in the indices are subject to change as the stock exchange daily postings indicate that there are errors in the reports since the new trading system was activated on Monday.
At the close, 20,631,314 units valued at $265,917,085 changed hands, compared to 10,455,555 units valued at $80,043,145 changing hands on Tuesday. Of the stocks traded, the junior market accounted for 11,553,647 units, valued at $90,755,608.
The average trade for the day in the main market ended at 355,210 shares compared to an average of 265,989 units on Tuesday. For the month to date, an average of 176,182 shares compared to an average of 188,966 units up to the prior trading day. January ended with an average of 592,602 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 12 stocks with bids higher than their last selling prices and 3 with lower offers.
In market activity, Barita Investments gained 20 cents to close at a 52 weeks’ high of $7.70 with trades of 5,000 units, Berger Paints slid $1.25 trading 12,851 shares to close at $10.25, Cable and Wireless traded 387,604 units, losing 2 cents to close at $1.17, Caribbean Cement closed at $32 with an exchange of 49,185 shares. Carreras traded 8,310 units, gaining 45 cents and closed at $66.75, investors pushed 1834 Investments 20 cents higher to close at $1.70 while trading 299,625 shares, Grace Kennedy closed at $40.65 with trades of 71,840 units. Jamaica Broilers advanced 50 cents trading 57,050 shares, to close at 52 weeks’ high of $16, Jamaica Producers gained $1, closing at a 52 weeks’ high of $19.50 with 83,700 units changing hands, Jamaica Stock Exchange jumped to a 52 weeks’ high of $12 for a gain of $4 with 700 shares traded. JMMB Group climbed $2.20 to close at a 52 weeks’ high of $20 with 2,713,535 units traded, Kingston Wharves fell to $30, losing $4 with trades of 6,829 units, Mayberry Investments exchanged 167,236 shares at $5.90, National Commercial Bank advanced $2.80, closing at $65, after swapping 11,046 shares.
Jamaica Broilers closed at a 52 weeks’ high on Wednesday
JSE blast past resistance on Tuesday
February 7, 2017 by
Stocks jump to new records in trading on Tuesday with the All Jamaica Composite Index blasting pass resistance around the 243,000 level in decisive fashion. The market should have a comfortable rise to 265,000 points mark, the next area of resistance.
The market closed on Tuesday, as 51 securities changed hands in the overall market, ending with 27 stocks rising and 13 falling, including 11 stocks gaining and 7 declining, in the junior market while 9 securities ended at new 52 weeks’ closing highs.
The All Jamaica Composite Index jumped 5,829.59 points to close at record 248,767.35, the JSE Market Index climbed 5,212.68 points to finish at record close of 226,816.75 and the JSE combined index shot up by 5,336.51 points, to close at new closing high of 241,473.28. The movement of the main market, for the year to date, resulted to gains of 18.4 percent, for the all Jamaica Composite Index, with the JSE Market Index up 18 percent.
PanJam Investment jumped $3 in trading on Tuesday..
The average trade for the day in the main market ended at 176,182 shares compared to an average of 188,966 units on Friday. For the month to date, an average of 176,769 shares traded, versus an average of units 250,588 units up to the prior trading day. January ended with an average of 592,602 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 10 stocks with bids higher than their last selling prices and 2 with lower offers.
In market activity, Berger Paints gained 10 cents to close at $11.50 trading 131,209 shares, Cable and Wireless traded 3,845,588 units, adding 4 cents to close at $1.19, Caribbean Cement lost $1 to close at $32 with an exchange of 21,613 shares. Carreras traded 576,857 units, losing 45 cents and closed at $66.30, while 1834 Investments traded 125,543 shares, gaining 5 cents to close at $1.50, Grace Kennedy added 1 cent, closing at $40.65 with trades of 129,462 units. Jamaica Broilers gained 2 cents trading 597,464 shares to close at $15.50, Jamaica Producers traded 107,150 units, losing 50 cents to close at $18.50, Jamaica Stock Exchange closed at $8 for a gain of $1.79 with 1,600 shares changing hands, JMMB Group dropped 19 cents to close at $17.80 with 3,888 units traded.
Kingston Properties exchanged 1,500 shares at $10, Kingston Wharves closed at $34, gaining $1 with trades of 4,050 units, Mayberry Investments exchanged 20,400 shares with gains of 5 cents to close at $5.90, National Commercial Bank declined $2.70 in closing at $62.20, after swapping 22,435 shares. 138 Student Living traded 10,765 units at $4.50, Pan Jamaican gained $3 to close at $34 with 12,850 shares traded, Portland JSX closed at $10 after trading 500 units, Pulse Investments closed at $7.09 with 10,000 units changing hands. Radio Jamaica gained 20 cents, closing at $1.50 with 154,800 shares changing hands, Sagicor Group traded 20,442 units at $31, Sagicor Real Estate fund gained 3 cents and closed at $10.23 with an exchange of 907 units, Salada rose $1.25 in trading 20,000 shares at $9.25. Scotia Group ended trading with gains of $1.01 to close at $46, having traded 88,515 shares, Scotia Investments gained 43 cents, after trading 7,135 units and closed at a 52 weeks’ high of $35.50, Sterling added 5 cents to close at $15.65 with trades of 500 units. Supreme Ventures closed at $5.70, for a gain of 15 cents with 66,814 shares traded, JMMB 7.25 closed at $1.50, with 430 units exchanged and JMMB Group 7.5% preference share traded 2,650 units at $1.10.
10 TOP JSE main market stocks for 2017
February 7, 2017 by
It is not always that main market stocks are more attractive buys than those in the junior market, but that is what is happening currently. Strong gains, in 2016 to end of January this year, in junior market companies, resulted in Jamaica Stock Exchange main market having stocks with better values than in the junior market.
The end result is that unlike other years when the junior market stocks tended to outperform those of in the main market by a ratio of 2 to 1, this year could see both markets gaining roughly the same.
The big question, of course, is what will be the accepted PE of the market? Currently, while the average for 2016 is 17 for the main market and the ratio based on 2017 estimated earnings is 11, with 11 stocks selling above this level, Jamaica Producers and Kingston Wharves have PE ratios over 30 times 2017 earnings.
The main market faces turbulence currently as the market is sitting just below a major resistance level around 243,000 points on the All Jamaica Index. If it can overcome this level, then it will encounter resistance around the 265,000 mark.
The TOP 10 list includes 4 financial sector stocks, two communication stocks and two from the manufacturing sector.
Cable & Wireless has made considerable progress in recent years, moving from major annual losses to a stage where they reported a small profit in fiscal year 2016 to March and should break even for the nine months to December, the new financial year end. Revenues have been climbing at double digit pace and should increase even more with the upturn in economic activity and with more persons being employed. The company recently raised rates on a number of its services that should help move revenues upwards. They have also made considerable recovery in their cellular customer base and have expanded it, generating increased revenues as a result. IC Insider.com forecast calls for a profit in 2017 with growth in 2018 as well.
On this basis, the stock is set to make solid gains. The only factor preventing that is a strong possibility that the parent company may move with an offer for the minority shares that would place a cap on the upside.
Radio Jamaica is under selling pressure as investors ignore the fundamentals and an improving economy that could result in increased profits and growth in the stock. The merger with the Gleaner was predicated a great deal on cost cutting. The group is doing just that and should benefit from a stronger marketing team and from increased advertising as businesses augment their advertising spend.
Caribbean Cement cut cost sharply in 2016 and saw growth in local sales for the first six months. However, closure of the plant for upgrading resulted in lost sales in the third quarter but sales recovered in the fourth quarter. Going into 2017, the cost savings should reduce operating cost and boost gross profit margins. Increased economic activity and lower cost of capital is leading to an uptick in the construction sector and consequently, an increase in demand for cement. The stock remains highly undervalued and has room for major gains ahead.
Barita is one of the top IC Insider’s stock for growth over the next 12 months in the main market.
Pulse Investments reported earnings of $1.35 last year and 32 cents for the September quarter that places the stock in the undervalued category even as the price climbed to $7.10 recently. It could go higher, but a bit of the earnings flow from revaluation surplus on property and that may cause some investors to discount the earnings. In a very bullish market, that may not matter much, for many investors. One positive, is that the cash flow statement shows cash inflows growing at a much higher level than in 2015.
Keith Duncan, Group Chief Executive Officer of JMMB.
Berger Paints had a very good run to December last year, with strong gains in profit as revenues grew attractively. Growth should continue into 2018 fiscal year, helped by increased building activity and an improving economy. Dividend payment should be high, thus boosting yields.
Scotia Investments should benefit in much the same way as Barita Investments. The investment bank reported earnings of $1.27 for the October quarter and IC Insider.com forecast is $4.96 for 2017. The increase should benefit from widening net interest income, as interest rates soften and more funds generated are added to the pool of interest earning pool as well as from growth in unit trust funds that will engender higher fee income, in addition to robust stock market activities that will also enhance fee income for the brokerage arm. On the negative side, the revaluation now taking place in the local currency could negatively affect earnings from trading in this area.
Carreras is one of the few stocks that have languished at the old price while many others have recorded active gains. The company just announced an interim payment of $2.20 bringing the payment since August last year to $5.40. The full year’s amount is likely to be in the order of $7.60 for a yield on the current price of 11.5 percent. This yield will not last as investors are going to eventually push it downward by bidding the price up as an income substitute. IC Insider’s forecast
is for earnings of $9 per share for the 2018 fiscal year. The stock may well languish at current levels for a while. The longer it stays the better for those investors who may want to add it to their portfolio.National Commercial Bank reported impressive profit results for their December quarter with a jump of 49 percent to $3.56 billion with earnings per share ending at $1.45, up from 96 cents in 2016. IC Insider.com forecast earnings of $8 per share for the current year. NCB declared an increase in its interim dividend payment from 50 cents in 2016 to 60 cents per ordinary stock unit payable in February. The payment represents 42.76 percent of the first quarter profits and is an indication of future payment.
Persons associated with this article may have an interest in the companies commented on.
New trading platform slows trading – Monday
February 6, 2017 by
Scotia climbs $4.99
on Monday to close at $44.99.
The end result is that trading reports were late and included errors some of which were sorted out and some have not. The market closed on Monday, as 42 securities changed hands in the overall market, ending with 19 stocks rising and 8 falling, including 6 stocks gaining and 2 declining, in the junior market while 5 securities ended at new 52 weeks’ closing highs.
All major market indices rose moderately compared with the sharp increase for the past 7 trading days. The all All Jamaica Composite Index jumping 2,645.20 points to close at record 242,937.76, the JSE Market Index climbed 2,365.27 points to finish at record close of 221,604.07 and the JSE combined index grew 2,425.63 points, to close at new closing high of 236,136.77. The movement of the main market, for the year to date, resulted to gains of 15.6 percent, for the all Jamaica Composite Index.
At the close, 4,099,498 units valued at $80,043,145 changed hands, compared to 7,100,472 units valued at $124,253,097 changing hands on Friday. Of the stocks traded, the junior market accounted for 1,530,168 units, valued at $11,104,756.
The average trade for the day in the main market ended at 104,123 shares compared to an average of 198,939 units on Friday. For the month to date, an average of 177,355 shares traded, versus an average of units 250,588 units up to the prior trading day. January ended with an average of 592,602 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 11 stocks with bids higher than their last selling prices and 4 with lower offers.
In market activity, Barita Investments traded 20,000 units at $7.50, Berger Paints advanced 33 cents to close at $11.40 with trades of 9,610 shares, Cable and Wireless traded 967,561 units at $1.15, Caribbean Cement lost 1 cent to close at $33 with an exchange of 17,621 shares. Carreras gained 75 cents and closed at $66.75 with 20,627 units changing hands, Grace Kennedy added 14 cents, closing at $40.64 with trades of 28,845 units. Jamaica Broilers lost 2 cents trading 4,414 shares to close at $15.48, Jamaica Producers traded 99,258 units, rising $1 to end at a 52 weeks’ closing high of $19, Jamaica Stock Exchange closed at $6.21, and a gain of 61 cents with 20,000 shares changing hands, JMMB Group gained 49 cents, to close at 52 weeks’ closing high of $17.99 with 87,666 units traded. Kingston Properties exchanged 9,400 shares at $10 for a gain of 50 cents, Kingston Wharves closed at $33 with trades of 9,017 units, National Commercial Bank closed at $64.90, after swapping 23,719 shares.
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