The Jamaica Stock market made moderate gains in the morning session, after 90 minutes of trading, in the process the All Jamaica Index trades at 113,267.30 to rise 
111.29 points, JSE Market Index rose 99.57 points to 102,371.63. The combined index gained 96.81 points to be at 105,839.17 and the junior market index was at 1,037.47 rising 0.33 points.
Gleaner Company traded at 99,000 shares at $2.73 in the morning session while the Jamaica Stock Exchange traded 14,875 units at a new all-time high of $8.30, for an increase of $1.29.
A total of 15 securities with a volume of only 365,925 units have traded with 5 stocks declining versus 6 that rose. There is trading of 2 securities in the junior market.
More gains for JSE Friday morning
August 14, 2015 by
12 stocks up 15 down as JSE indices jump
August 13, 2015 by
JSE main market pierced resistance at 108,000 points & is heading to the next resistance level at 115,000 points.
At the close, the JSE Market Index gained 676.72 points to 102,186.50, the JSE All Jamaican Composite index rose 756.39 points to close at 113,156.01 and the JSE combined index climbed 660.25 points to end at 105,742.36.
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 9 stocks with bids higher than their last selling prices and 10 with offers that were lower.
In trading, Cable and Wireless ended with 990,000 units changing hands at 40 cents, Caribbean Cement stock fell $1.35 to close at $7.15 but traded as high as $8.60 with 669,805 units traded, Carreras traded 3,200 units to close 50 cents off at $51.50, Desnoes & Geddes had 43,637 shares changing hands at $6.80, up 29 cents. Gleaner closed with 377,400 shares traded at new closing 52 weeks’ high of $2.72 for a gain of 21 cents. Grace Kennedy traded 138,893 shares to end at $64.01, Jamaica Producers gained 20 cents to end at $19 with 3,160 units trading. JP yesterday reported earnings for the second quarter attributable to shareholders of $414 million but the bulk of that it, $319 million came from gain on sale of fixed assets and investments. The year-to-date to June net profit attributable to JP shareholders was $589 million compared to $138 million in 2014 of which $429 million came from gains on disposal of fixed assets and investments. JMMB Group traded 
30,000 units and fell 10 cents to end at $7.50, Mayberry Investments had 149,575 shares trading at $3.15, National Commercial Bank traded 109,682 shares at $30.10 with a decline of 90 cents. Radio Jamaica traded just 59,325 shares to end at $4, for a 30 cents decline, Proven Investments closed at 19 US cents after gaining 1.50 US cents with 255,000 shares changing hands, Sagicor Group ended trading with 30,528 units at $13.10 to add 5 cents. Sagicor Real Estate Fund closed at $8.30 while trading 27,548 units, Scotia Group lost 45 cents and ended with 61,898 units trading at $26, and Supreme Ventures traded 27,997 shares at $4 after shedding 50 cents and Proven Investments 8% preference ended at a new 52 weeks’ low of $4.96 with 418,000 units changing hands after losing 2 cents.
JSE makes sharp move higher
August 13, 2015 by
The Jamaica Stock market made a sharp move higher in the morning session, in the 
process the All Jamaica Index trades at 113,362.93 to rise 963.31 points, JSE Market Index jumped 861.85 points to 102,371.63. The combined index gained 867.20 points to be at 105,949.31 and the junior market index 1,040.72 rising 6.03 points.
A total of 32 securities with a volume of 3,181,946 units have traded with 11 stocks declining versus only 10 that rose. There is trading of 9 securities in the junior market.
20 stocks rose to 6 falling on JSE
August 12, 2015 by
RJR closed at a new 52 weeks high of $4.30.
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 5 stocks with bids higher than their last selling prices and 5 with offers that were lower.
In trading, Cable and Wireless ended with 1,182,806 units changing hands at 40 cents, Caribbean Cement stock gained 51 cents to close at $8.50, Carreras traded 6,834 units to close at $52, Desnoes & Geddes had 43,637 shares changing hands at $6.80, up 29 cents. Gleaner closed with 250,132 shares traded at new closing 52 weeks’ high of $2.51 for a gain of 36 cents. The stock had traded as high as $2.70 during trading. Grace Kennedy traded 72,578 shares to end at $64, Jamaica Broilers had 11,419 shares changing hands, in closing at $7 for a gain of 30 cents. Jamaica Producers (JP)dropped $1.20 to $18.80 with 986,248 units trading. JP reported earnings for the second quarter attributable to shareholders of $414 million but the bulk of that it, $319 million came from gain on sale of fixed assets and investments. The year-to-date to June net profit attributable to JP shareholders was $589 million compared to $138 million in 2014 of which $429 million came from gains on disposal of fixed assets and investments. JMMB Group traded 10,600 units and fell 39 cents to end at $7.60, 
Mayberry Investments had 219,866 shares trading at $3.15 for a loss of 35 cents, National Commercial Bank traded 44,926 shares at $31 with a gain of 50 cents. Radio Jamaica traded just 8,132 shares to end at $4.30, a new 52 weeks’ high, Sagicor Group ended trading with 17,790 units at $13.05, and lost 15 cents. Proven Investments closed at 17.5 US cents after falling 0.50 US cents with 200,000 shares, Sagicor Real Estate Fund closed at $8.30 while trading 295,742 units, Scotia Group gained 44 cents and ended with 109,216 units trading at $26.45, Scotia Investments ended with 15,000 shares changing hands at $27.99, up 99 cents and Supreme Ventures traded 1,974,455 shares at $4.50, a new all-time high by adding 92 cents.
Gleaner at new high
August 12, 2015 by
Gleaner Company traded at a new 52 weeks high of $2.50 
in the morning session while Supreme Ventures traded at $4. The market indices slipped but the junior market made moderate gain.
In the process the All Jamaica Index trades at 111,963.85 to fall 126.84 points, JSE Market Index fell 113.48 points to 101,119.91. The combined index lost 101.27 to be at 104,773.76 and the junior market index 1,041.22 rising 0.63 points.
A total of 21 securities with a volume of 2,704,762 units have traded with 6 stocks declining versus only 8 that rose.
Subsequent to the above, Gleaner traded at a new 52 weeks’ high of $2.70, Radio Jamaica traded at a new 52 weeks’ high of $4.30 and Supreme Ventures traded 1,974,455 units up to a new all-time high of $4.50.
Bulls & bears jostling for control on JSE
August 11, 2015 by
The Jamaica stock market closed with 7 stocks rising, 10 declining as 27 securities changed hands with 2,264,841 units trading, valued at $15,471,105 and 6 stocks closed at new 52 weeks’ high in all market segments.
At the close, the JSE Market Index gained 638.23 points to 101,233.39, the JSE All Jamaican Composite index rose 713.37 points to close at 112,090.69 and the JSE combined index climbed 601.76 points to end at 104,875.03.
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 8 stocks with bids higher than their last selling prices and 6 with offers that were lower.
In trading, Cable and Wireless ended with 286,500 units changing hands to end at 39 cents, Caribbean Cement stock gained 74 cents to close at $7.99, Carreras traded 11,949 units to close at $52 after trading at a 52 weeks, intraday high of $52.50, Desnoes & Geddes had 21,400 shares changing hands at $6.51, down 4 cents. Gleaner traded at $2.15, and gained 26 cents after 386,946 shares changed hands. At the close, Gleaner closed with the bids above the last traded price at $2.20 to buy 1,000 shares. Grace Kennedy traded 8,000 shares to end at $63, Jamaica Broilers had 61,000 shares changing hands, in closing at $6.70 for a fall 
of 30 cents. National Commercial Bank traded just 89,384 shares at $30.50 with a gain of 49 cents, at the close the stock was offered at $30.50 to sell 51,623 shares and then after that the bid is at $32.50 to sell 245 units, the only other offers posted are, at $33 to sell 503 units and at $60 to sell 2,000 shares. Radio Jamaica traded just 25,185 shares to end at $4, Sagicor Group ended trading with 195,878 units at $13.20, and lost 30 cents. Sagicor Real Estate Fund closed at $8.30 while trading 155,507 units, Scotia Group ended with 138,986 units trading at $26.01, Scotia Investments ended with 44,735 shares changing hands at $27 and Jamaica Money Market Brokers 7.50% preference traded 46,000 units at $2.
Scotia pushes Indices again
August 11, 2015 by
On Friday Scotia Group gave a big boost to the main market index and on Monday took a big bite of the Friday’s gain but in early trading the stock that carries much weigh in the indices has push them up. In the process the All Jamaica Index trades at 111,929.08 to gain 551.76 points, JSE Market Index gain 493.64 points to 101,088.80. The combined index gained 486.02 to be at 104,759.29 and the junior market index 1,042.86 rising 2.28 points.
In main market trading, Gleaner traded at a new 52 weeks’ high of $2.09 with 25,000 shares to gain 20 cents, and an offer at $3.50, Sagicor Real Estate X Fund traded 86,402 units at $8.45, Scotia Group had 63,778 units changing hands at $26, Jamaica Money Market Brokers 7.50% preference share traded 46,000 units at $2. The junior market had 8 securities trading with Caribbean Cream trading 332,244 shares at $1.90 and Lasco Manufacturing trading 193,967 units at $2.
A total of 20 securities with a volume of 982,126 units have traded after 75 minutes of the market’s opening. 3 stocks have declined at versus 6 that rose.
Bulls rampant with 6 new highs on Monday
August 10, 2015 by
Supply is virtually dried up for NCB
At the close, the JSE Market Index slipped 397.37 points to 100,596.16, the JSE All Jamaican Composite index fell 444.16 points to close at 111,377.32 and the JSE combined index declined 363.68 points to end at 104,273.27.
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 8 stocks with bids higher than their last selling prices and 7 with offers that were lower.
In trading, Cable and Wireless ended with 734,138 units changing hands and lost 1 cent to
end at 39 cents, Carreras traded 9,440 units to close at $52, Desnoes & Geddes had 64,610 shares changing hands at $6.55, down 15 cents. Gleaner traded at $1.89, and gained 37 cents after just 100 shares changed hands, in continued response to the merger of the company’s media operations, with that of Radio Jamaica. At the close, Gleaner closed with the bids above the last traded price at $2.09 with 6,238 shares for a new 52 weeks high. Grace Kennedy lost $1 in trading 10,933 shares to end at $63,
had 29,700 shares changing hands, in closing at $7 for a rise of 63 cents. Jamaica Producers traded 24,294 shares to end at $20 by gaining $1.15, The Jamaica Stock Exchange stock traded 104,900 units at $6.60, for a loss of 20 cents, Kingston Wharves ended with 699,999 shares changing hands at $7.05, to gain 5 cents. Mayberry Investments had 116,000 shares trading at $3.50 to gain 40 cents, for a new 52 weeks’ high, National Commercial Bank traded 66,421 shares at $30.01 after it traded earlier in the day at $30.50. At the close theJamaica Broilers
stock was offered at $32.50 to sell 245 units, the only other offers posted are, at $33 to sell 503 units and at $60 to sell 2,000 shares, the bid was at $30.01 to buy 51,091 units. Radio Jamaica traded just 106,922 shares to end at a 52 weeks’ high of $4 as the price gained 10 cents, Sagicor Group ended trading with 97,240 units at $13.50, to gain 54 cents. Sagicor Real Estate Fund lost 20 cents and closed at $8.30 while trading 48,229 units, Scotia Group ended with 768,044 units trading at $26 but traded as low as $23.66 during the day and Jamaica Money Market Brokers 7.50% preference traded 882,500 units at $2 after shedding 1 cent.
Scotia gives & takes away 1,000 points
August 10, 2015 by
On Friday Scotia Group gave a big boost to the main market index with good volume, this morning the banking group stock fell traded at $24 and swiped a big hole in the index after the market was up 354 points on the all Jamaica composite Index and 317 points on the JSE Market Index.
In the process the All Jamaica Index trades at 110,642.78 down 1,178.70 points JSE Market Index fell 1,054.54 points to 99,937.99. The combined index lost 998.45 to be at 103,638.50 and the junior market index was at 1,038.91 dropping 0.47 points.
In main market trading Grace Kennedy dropped $1 to $63, Gleaner is yet to trade but has a bid of $1.88 and an offer at $3.50 RJR on the on the other hand traded at $4. Jamaica Producers traded up to $20 by gaining $1.15, National Commercial Bank traded 37,512 shares at $30.50 and had an offer at $32.50 to sell 245 units, but the only other offers posted are at $33 to sell 503 units and at $60 for 2,000 shares.
8 stocks have declined at 10.45 am versus only 9 that rose out of just 21 that have traded carrying a volume of 1,432,928 units.
$6.95 much for Sagicor X fund rights
August 9, 2015 by
Hilton Rose Hall Sagicor X Fund recent acquisition
The stock closed at $8.50 on the Jamaica Stock Exchange on Friday August 7th with 34,000 shares changing hands. The closing date for the issue is September 2, 2015, with the opening on August 19. The gross funds expected to be raised is J$4,157,036,165 and are intended to be used to assist Fund to acquire a convention hotel in Orlando, Florida, which is affiliated with a major hotel chain. The rights issue document states that the “resort has 742 rooms with over 62,800 square feet of meeting and convention space. It is located in Orlando at the entrance to the Universal Theme Park. The balance of the purchase price is expected to be funded by way of a loan”.
Sagicor Pooled Diversified Investment Fund and other connected Sagicor entities which together own approximately 80% of the stock units of the Company have stated that they intend to take up all their Rights. Shareholders who do not take up any of their Rights will be diluted by 28.57% assuming that all the Rights Shares are taken up and the Rights Issue is not up-sized.
The Fund reserves the right, in the event of over-subscription for shares from the Un-allocated Pool to upsize the Rights Issue by releasing up to maximum of 149,533,675 shares into the Un-allocated Pool to meet demand from its shareholders. X Fund does not intend to up-size the Rights Issue beyond the aforesaid maximum. If the Rights Issue is up-sized to the maximum the issued share capital of the Company would be increased by 50% over the current amount of shares in issue of 1,495,336,750 stock units and a shareholder who did not take up any of his Rights Shares would be diluted by 33⅓%.
Sagicor group a better buy with a PE around 6 times 2015 earnings
The stock which is overvalued is unlikely to enjoy the generation of profits in the short run from ongoing operations to justify the price being asked. In a market where few stocks are selling at a premium to net asset value, it is difficult to see why rational investors would want to pay a premium to the market for such an investment and suffer later the prospects of disappointing earnings that will justify the price either. One only has to look at Proven Investments shares, where investors gobbled up the stock at inflated prices as high as 22 US cents only to see few buyers for it now at 18 US cents to realise that hype will often will out in the short run but reality sets in after.
Investors should know what they are buying but that is not clear from the offer document but Sagicor Group selling at a PE of 6-7 times this year’s earnings with a book value of $12.17 versus last traded price of $13 is a far better buy. The issue is taking place in a bull market so who knows what will happen?