Caribbean Cement ekes out meager profit

May 15, 2014 by
Caribbean Cement factory

Caribbean Cement factory

Caribbean Cement reported a meager profit of $35 million for the first three months of 2014 but compared to a loss of $497 million in 2013, the latest results represent a major change in the fortune of a company plagued with low production and massive losses between 2009 and 2012.  The significant improvement over 2013 is as a result of the debt restructuring exercise completed in June last year, reducing the Group’s exposure to foreign exchange losses, improved sales volumes and increased plant productivity. But the stock market is expecting more, much more from this the sole manufacturer of local cement. In the September quarter last year Cement, as the company is commonly known, sold 214,000 tonnes of cement and 6,700 tonnes of clinker compared with 215,000 of cement this year along with much more clinker exports and reported operating profit of $303 million compared to $130 million in this latest quarter. The company operating profit for the quarter improved by 33 percent over the prior year, increasing from $98 million.

In the 2013 September quarter, the company reported 20 cents per share but only 4 cents in its latest one. There is clearly a sharp increase in cost which the company was not able to pass on in time in pricing during the quarter. The company has to do better than the results in the quarter to come close to justify the stock price at $3.70. The directors stated that they have taken action to improve the operating margin. Part of that no doubt is a 1.3 percent price adjustment implemented at the start of April but that will only recover about $40 million, there must be other cost incurred in the March quarter that have been or is being dealt with.

While the growth in domestic demand remains anaemic, export cement sales volumes grew by 87 percent with new markets established in Suriname and Guyana. Total cement sales volumes rose by 17 percent. Additionally, 44,261 tonnes of clinker was exported to Venezuela. The increased volume coupled with price corrections to recover increases in certain costs, resulted in revenue rise of 36 percent or $959 million.

Cement Company increased its prices by an average of 1.3 per cent starting April 1st on top of an average increase of 3 percent at the start of January. In October last year there was 2.7 percent upward adjustment.

Outlook| The company in a release to the stock exchange said “We remain cautiously optimistic about increased domestic market demand in the short to medium term as we continue to actively promote new uses for our cement in the domestic market. Our focus on developing export markets, especially in Central and South America, continues and we expect to conclude a new contract for supply of clinker to Venezuela when the current contract is fulfilled in May”.

Borrowings| While Trinidad Cement, the majority shareholders restructured the debt to Caribbean Cement (CCC), CCC still has a large amount due amounting to $1.4 billion costing a huge amount in interest amounting to $66 million during the quarter and picked up exchange losses of $15 million as a result of slippage of the local dollar.

At the end of the quarter the company still has huge build up of deficit on its books standing at $7.35 billion. It will take several years before they are able to wipe this out and place themselves in a position to start paying dividends.

Cash| on a more positive note Cement Company ended with cash of $340 million at the end of the quarter as the operations generated cash inflows of $138 million, this is good news as it could it means that cash build up could during the year end up at close to $900 million.

Filed Under: Company News, Company Results, JSE Main Market, Stock Market

Jamaica Producers profit down

May 15, 2014 by

Jamaica Prod.Jamaica Producers Group (JP) continues to struggle in its fight of the economic elements buffeting the markets in which it operates as the group generated just 5 percent more revenues in the first quarter this year of $1.96 billion over the same period in 2013. Net profit attributable to JP’s shareholders was $34 million, a reduction from $85 million in the same period last year.
JP Europe division earned revenues of $1.29 billion in the March quarter, representing a 7 percent reduction from the prior year. The division earned first quarter pre-tax profits of $21 million compared to $60 million in the 2013 first quarter. JP Tropical Division significantly improved its performance relative to the prior year as the first quarter loss for the division of $55 million in 2013 was reduced to a loss of just $6 million for the 2014 quarter. The Corporate segment recorded a profit of $31 million for the 2014 quarter down from a profit of $125 million for the 2013 period.
Gross profit rose to $428 million from $389 million in 2013 but increased marketing, selling and distribution costs rose to $135 million from $126 million and administrative and other operating expenses of $313 million versus $276 million in 2013 helped to worsen operating results. Lower profit from share of associated companies and joint ventures of $68.6 million compared to $99.6 million in 2013 and an $81 million drop from gain on disposal of property, plant and equipment and investments which fell to only $17 million helped to pressure net results for the quarter lower. The performance was helped somewhat by absence of restructuring cost during the recent period, in 2013 such cost amounting to $36 million was incurred in the 2014 quarter.
The stock sells for $18.26 each and the book value is $31 each but it is difficult to see earnings for the current year reaching a level to justify the stock price at current levels.
The JP Tropical division benefitted from a 45 percent increase in revenues driven in part by the restoration of the banana and pineapple farms after Hurricane Sandy and increased sales of JP tropical snacks in Jamaica and internationally. Management expect to support the recovery of JP Tropical Foods business with a recent board decision to significantly increase the acreage under cultivation of both pineapples and cassava. These projects will be concentrated in St. Mary and will be executed over the course of 18 months. The commitment to expand agricultural activity in St. Mary will also result in increased output from the St. Mary-based snack factory and bammy production unit as well from fresh produce depots that the group is in the process of establishing in Kingston, Annotto Bay, Mandeville and Montego Bay.
Tortuga International Holdings experienced improved results relative to the prior year as a result of strong cruise ship arrivals in various Caribbean markets and the introduction of a series of new products that build on its heritage and connection to rum-based confectionary. The business was bolstered by cost-cutting initiatives in our bakery in Barbados and the strengthening of the overall sales team with new personnel.

Filed Under: Company News, Company Results, JSE Main Market

Little price movements on Wednesday

May 14, 2014 by

In Wednesday’s trading on the Jamaica Stock Exchange the prices of 4 stocks rose and 3 declined as only 20 securities traded resulting in 7,422,171 shares changing hands valued at $29,572,563.
JSEsum 14-5-14Main Market| On a day when few stocks recorded price changes, only 3 companies in the main market advanced and 3 declined as the indices moved down marginally with the JSE Market Index slipping by 40.55 points to 72,978.93 and the JSE All Jamaican Composite index easing 45.34 points to close at 80,311.88.
Gains| Stocks recording gains at the end of trading in the main market are National Commercial Bank with 6,320 shares to close with a gain of 25 cents at $18, Pan Jamaican Investment had 35,274 changing hands to close up by 14 cents to end at $48.20 and Sagicor Real Estate Fund with 20,100 units, closed with a 10 cents gain at $6.60.
Firm| 11 stocks in the main market closed without a change in price as Berger Paints traded 55,000 shares in closing at $1.67, Cable & Wireless traded 640,000 units and closed at 30 cents, Caribbean Cement 42,175 units to close at $3.50, Carreras 79,670 shares to end at $34.75, Desnoes & Geddes 400 shares to close at $4.40. Jamaica Money Market Brokers 7.50% preference share, 700,000 units at $2 and the 8.75% preference share traded 1,839,490 units at $3.03, Sagicor Group 798,136 units to close at $9.35, Scotia Group with 45,660 shares to close at $19.70, Scotia Investments 5,010 shares at $24.50 and Supreme Ventures 2,789,233 units to close at $2.10.
Declines| The stocks that declined in the main market are Jamaica Money Market Brokers with 7,382 units while losing 5 cents to end at $7.35, Kingston Properties with 13,500 shares to close with a 10 cents loss at $4 and Kingston Wharves with 80,504 shares as the price closed at $5 with a fall of 75 cents.
Junior Market| The JSE Junior Market Index declined by 0.34 points to close at 732.85 as only 3 stocks traded with 1 advancing and none declining.
Gains| Caribbean Producers was the only stock gaining at the end of trading in the junior market as 54,733 units traded to close at $3, up a cent.
Firm Trades| The stocks in the junior market that traded to close at the same price as the trading day before are Access Financial with 207,002 units at $11.50 and Dolphin Cove that closed at $8.10 with 2,582 units changing hands.
Declines| There were no stocks declining in the junior market at the end of trading on Wednesday.
IC bid-offer Indicator| At the close of the market the Investor’s Choice bid-offer indicator had 8 stocks with the bid higher than the last selling price and 6 stocks with offers that were lower.

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

Market on rebounds

May 12, 2014 by

In Monday’s trading on the Jamaica Stock Exchange the market rebounded when measured by the main market indices but the junior market index slipped. At the close, the IC bid-offer Indicator was flashing a strong signal of further rebound in prices. The main market indices recorded gains as the prices of 8 stocks rose and 11 declined with 28 securities traded in both markets resulting in 53,344,226 units changing hands valued at $30,050,258. C2W Music had one trade of 50,895,843 units valued at $21.37 million.
JSE sum12-5-14Main Market| AT the end of trading the JSE Market Index rose by 466.57 points to 72,492.60 and the JSE All Jamaican Composite index gained 521.70 points to close at 79,768.08 as all 8 stocks to rise came from this market while 5 declined.
Gains| Stocks recording gains at the end of trading in the main market are Caribbean Cement, trading 54,218 shares to close with a gain of 10 cents at $3.60, Carreras gained 35 cents to close at $34 with 1,000 units changing hands, Grace Kennedy traded 2,306 units to close at $56.50 with 50 cents gain, National Commercial Bank closed with 26,424 shares changing hands as the price close at $18.10 with a 10 cents gain but it traded as low as $17.16 before recovering towards the end of trading. Sagicor Group exchanged 62,900 units in closing 15 cents higher at $9.15, Sagicor Real Estate Fund traded 42,500 units at 30 cents higher in closing at $6.30, Scotia Group put in only 14,288 shares to end a cent higher at $19.51 and Seprod gained 70 cents with 5,000 units to close at $11.25 after the company reported increased profit in the quarter to March with a 50 percent increase to $473 million or 77 cents per share from operating revenue increase, of only 4 percent.
Firm| The stocks in the main market to close without change in price are Jamaica Money Market Brokers 8.75% preference share with 160,000 units to close at $3.03, Mayberry Investments with 18,858 shares while closing at $1.71, Pan Jamaican Investment with 10,800 shares while closing at $48.06, Proven Investments 67,200 units to close at 18US cents and Proven Investments 8% preference share 1,850 units to close at $5.09.
Declines| The stocks that declined in the main market are Desnoes & Geddes with 35,559 units while losing a cent to end at $4.49, Jamaica Broilers 62,900 units in closing at $4.71, down 9 cents, Jamaica Money Market Brokers 13,113 shares to close at $7.30 with a cent off, Jamaica Stock Exchange 925 units in closing at $1.95 as the price eased 5 cents and Kingston Wharves 8,300 shares to close 24 cents lower at $5.75.
Junior Market| The JSE Junior Market Index declined by 10.60 points to close at 735.64 as 10 stocks traded with none recording a price gain and 6 declining.
Firm Trades| The stocks trading in the junior market to close at the same price as the day before are Access Financial with 121,400 units to close at $11.50, Caribbean Cream with 1,250 units to close at 79 cents, Consolidated Bakeries with 3,000 shares in closing at $1.10 and Lasco Distributors with 1,357,149 shares to close at $1.35.
Declines| Stocks declining in the junior market at the end of trading are AMG Packaging trading 1,000 units at $3.49 as the price slipped a cent, C2W Music with 50,895,843 shares as the price lost 3 cents to end at 42 cents, KLE Group with 138,703 as the price eased by a cent for a new 52 weeks low of 93 cents, Lasco Financial 69,751 shares at 12 cents lower to end at $1.08, Lasco Manufacturing 102,884 shares as it closed at $1.14 for a 6 cents decline and Medical Disposables with 65,105 units to close with a cent off at $2.04.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 12 stocks with the bid higher than the last selling price and 7 stocks with offers that were lower.

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

JSE hits 2014 low

May 9, 2014 by

In Friday’s trading on the Jamaica Stock Exchange the prices of 3 stocks rose and 7 declined as 22 securities traded resulting in 10,829,685 shares changing hands valued at $38,848,598.
JSE sum 9-5-14Main Market| The prices of only 2 companies in the main market rose and 6 declined as the indices dropped to the lowest level for the year, with the JSE Market Index erasing 1,032.29 points to 72,026.03 and the JSE All Jamaican Composite index dropping by 1,154.27 points to close at 79,246.38. The previous low for the JSE All Jamaica Index was at 79,357.40 on December 27, last year.
Gains| Stocks recording gains at the end of trading in the main market are Desnoes & Geddes with 500,000 shares to close with a gain of 20 cents at $4.50 and Jamaica Money Market Brokers with 24,100 ordinary shares changing hands, gained a cent to close at $7.31.
Firm| There were 7 stocks in the main market closing without a change in price as Berger Paints with 19,500 shares closed at $1.67, Caribbean Cement traded 5,062 units and closed at $3.50, Carreras traded 10,000 units to close at $33.65, Gleaner 100,000 units in closing at $1.10, Grace Kennedy 394 units at $56, National Commercial Bank 467,250 shares at $18 and Salada with 6,065 units to close at $8.
Declines| The number of stocks declining in the main market are Cable & Wireless with 3,189,689 units while losing 5 cents to end at 30 cents, Jamaica Broilers with 1,933,332 units changing hands to close at $4.80 as the price fell 5 cents, Pan Jamaican Investment 14,874 shares to close at $48.06 for a fall of 44 cents, Sagicor Group 156,333 units to close at $9 with a loss of 10 cents, Scotia Group 470,716 shares to close at $19.50 as the price lost 56 cents and Seprod with 4,300 units as the price declined by 45 cents to close at $10.55.
Junior Market| The JSE Junior Market Index declined by 0.59 points to close at 746.24 as 5 stocks and one bond traded with none advancing and 2 declining.
Gains| There were no stocks recording gains at the end of trading in the junior market at the close of the week.
Firm Trades| The stocks in the junior market that traded to close at the same price as the previous trading day are 5,603 Cargo Handlers shares traded at $14.35, Consolidated Bakeries with 70,230 units to close at $1.10, 66,600 units of Eppley 9.5% preference share changing hands at $6.02, Lasco Distributors had 39,000 units traded to close at $1.35, Lasco Manufacturing traded 2,309,867 shares in closing at $1.20 and 9,000 Access 9% Unsecured Short Term Notes traded to end at $99.50.
Declines| Only one stock declined in the junior market at the end of trading with Lasco Financial with 1,436,770 units changing hands with a loss of 5 cents to close at $1.20.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 8 stocks with the bid higher than the last selling price and 10 stocks with offers that were lower.

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

More losses for the market

May 8, 2014 by

In today’s trading on the Jamaica Stock Exchange the prices of 8 stocks rose and 9 declined as 28 securities traded resulting in 8,384,697 shares trading valued at $39,568,098 but the two main market indices fell a bit to add to the losses on Wednesday. The advance decline ratio at the close was an improvement on Wednesday’s 5 to 9.
JSE sum 8-5-14Main Market| 6 companies in the main market advanced and 7 declined as the indices moved down with the JSE Market Index shedding 555.97 points to 73,058.32 and the JSE All Jamaican Composite index fell by 621.68 points to close at 80,400.65 just a shade from the low for 2014 of 80,359.75 reached on January 7th.
Gains| Stocks recording gains at the end of trading in the main market are Carreras that gained 8 cents to close at $33.65 with only 1,000 units changing hands, Desnoes & Geddes trading 72,966 shares to close with a gain of 20 cents at $4.30, Jamaica Money Market Brokers 73,808 ordinary shares to close at $7.30 with 3 cents gain, Jamaica Money Market Brokers 8.50% preference share 72,000 units to close up a cent at $3.51, Sagicor Group with 415,594 shares to close at $9.10 up by 20 cents and Seprod with 968 units to close at $11 with a 20 cents gain.
Firm| There were 7 stocks in the main market to close without a change in price, with Gleaner trading 548,887 shares in closing at $1.10, Jamaica Broilers with 1,030,997 shares and closed at $4.85, Jamaica Money Market Brokers 8.75% preference share with 1,104,250 units and closed at $3.03, Mayberry Investments 20,560 shares as the price closed at $1.71, Proven Investments 8% preference share, 13,100 units to end at $5.09, Radio Jamaica 10,000 shares and closed at $1.28 and Scotia Investments with 18,790 units and closed at $23.10.
Declines| The number of stocks that declined in the main market are Cable & Wireless with 2,869,910 shares in losing 5 cents to end at 35 cents, Caribbean Cement with 71,784 shares to end at $3.50 with a 50 cents fall, Grace Kennedy 51,906 shares while closing at $56, down by 50 cents, National Commercial Bank 33,961 units as the price ended at $18 with a loss of 50 cents, Pan Jamaican Investment 4,000 units, closing at $48.50 for a fall of a cent, Sagicor Real Estate Fund traded 3,464 units at $6 as it shed 50 cents and Scotia Group with 885,471 shares in closing at $20.06 for a 49 cents drop.
Junior Market| The JSE Junior Market Index declined by only 4.74 points to close at 745.65 as 8 stocks traded with 2 advancing and 2 declining.
Gains| Stocks recording gains at the end of trading in the junior market are Caribbean Producers trading 456,206 units to close at $3.10, up 10 cents and Lasco Distributors with 424,000 shares to close at $1.35 with a gain of 5 cents.
Firm Trades| Stocks in the junior market that traded to close at the same price as the day before are Access Financial with 6,000 units and closed at $11.50, Blue Power 4,000 units and closed at $9.01, General Accident Insurance 53,068 units, closing at $1.50 and Lasco Manufacturing with 77,934 shares as the price closed at $1.20.
Declines| Stocks declining in the junior market at the end of trading are Lasco Financial with 21,800 units at $1.25, down by 5 cents and Paramount Trading in trading 38,273 shares, landed at a 52 weeks low of $2.68 with a decline of 23 cents.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had only 3 stocks with the bid higher than the last selling price and 9 stocks with offers that were lower, continuing to indicate a negative market sentiment.

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

JSE Market gives up much ground

May 7, 2014 by

In Wednesday’s trading on the Jamaica Stock Exchange the market slipped more than it gained on Tuesday as big capitalisation stocks, Desnoes & Geddes, Sagicor Group and Cable & Wireless slipped in value with the prices of 5 stocks rising and 9 declining as 24 securities traded resulting in 8,461,785 shares changing hands valued at $29,734,524. At the close market sentiment was reflecting continued negative movements for a while.
JSE sum 7-5-14Main Market| Only 4 companies in the main market advanced and 8 declined as the indices plummeted with the JSE Market Index dropping by 2,428.50 points to 73,614.29 and the JSE All Jamaican Composite index shedding 2,715.48 points to close at 81,022.33.
Gains| Stocks recording gains at the end of trading in the main market are Hardware & Lumber trading 64,500 shares to close with a gain of $1.30 cents at $11.80, National Commercial Bank with 7,976 units changing hands to close at $18.50and gained 40 cents, Caribbean Cement with 84,939 shares to close at $4, with an increase of 10 cents and Scotia Group only 500 shares to close at $20.55 for a 5 cents gain.
Firm| There were only 6 stocks in the main market to close without a price change as Jamaica Broilers with 22,080 shares closed at $4.85, Jamaica Money Market Brokers 8.50% preference share traded 10,000 units and closed at $3.50, Jamaica Money Market Brokers 8.75% preference share closed at $3.03 while exchanging 221,600 shares, Proven Investments 8% preference share traded 612,900 units at $5.09 followed by Seprod with 171,083 units at $10.80 and Supreme Ventures with 17,000 units to close at $2.10.
Declines| On a day when declining stocks overwhelmed advancing ones, the number of stocks that declined in the main market are Cable & Wireless with 1,903,766 shares as investors tried to get out of the stock as it the closed at 40 cents having slipped by 4 cents, Desnoes & Geddes with 697,860 shares while losing 40 cents to end at $4.10, Gleaner with 8,000 shares to close 5 cents lower at $1.10, Grace Kennedy 40,258 units in closing at $56.50 as the price slipped a cent, Pan Jamaican Investment with 97,716 shares in closing at $48.51 down by 54 cents, Radio Jamaica 24,000 units traded to close 4 cents lower at $1.28 and Sagicor Group with 576,077 shares closed at $8.90 with the fall of 13 cents.
Junior Market| The JSE Junior Market Index declined by 2.99 points to close at 750.39 as 7 stocks traded with only one advancing and 2 declining.
Gains| Lasco Financial traded 41,000 units to close at $1.30, up 10 cents, was the only stock with a gain at the end of trading in the junior market.
Firm Trades| 4 stocks in the junior market traded to close at the same price as the day before with Caribbean Flavours trading 11,121 units at $2.70, Caribbean Producers 121,513 shares to end at $3, Consolidated Bakeries 40,000 units in ending at $1.10 and Lasco Manufacturing with 1,066,000 shares to end at $1.20.
Declines| Stocks declining in the junior market at the end of trading are Dolphin Cove trading 222,681 units at $8.20 for a 3 cents fall and Lasco Distributors 2,399,215 shares at $1.30 down 5 cents.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator flashed negative sentiment showing 5 stocks with the bid higher than the last selling price and 9 stocks with offers that were lower.

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

JSE Market gains 2,000 points

May 6, 2014 by

Scotia Group traded as high as $22.89 before closing at $20.50 and was the main factor in the big jump in the Jamaica Stock Exchange two main indices while the prices of 9 stocks rose and 8 declined as 27 securities traded resulting in 5,724,168 shares trading valued at $32,909,845.
JSE sum 6-5-14Main Market| The prices of 5 companies in the main market advanced and 6 declined as the indices jumped as the JSE Market Index gained 2,054.10 points to 76,042.79 and the JSE All Jamaican Composite index jumped by 2,296.84 points to close at 83,737.81.
Gains| Stocks recording gains at the end of trading in the main market are Cable & Wireless with 1,290,256 units to close with a 2 cents gain at 44 cents, Carreras traded 3,594 shares to close with a gain of a cent at $33.57, Gleaner gained 5 cents to close at $1.15 with 20,000 units changing hands, Jamaica Money Market Brokers 1,494 units to close at $7.27 up by 5 cents and Supreme Ventures with 79,975 shares to close with a gain of 5 cents at $2.10.
Firm| There were 6 stocks in the main market to close without a change in price with Desnoes & Geddes trading 1,064 shares and closed at $4.50, Jamaica Broilers 715,645 units and closed at $4.85, Jamaica Money Market Brokers 8.75% preference share, 654,081 units to close at $3.03, Jamaica Producers 96,627 units at $18.26, Mayberry Investments 2,040 shares in closing at $1.70 and Scotia Group 868,539 shares to close at $20.50 but traded as high as $22.98.
Declines| The number of stocks that declined in the main market are Berger Paints with 10,000 units in losing a cent to end at $1.67, Caribbean Cement with 25,899 shares to close at $3.90 by falling by a cent, Hardware & Lumber 36,100 shares to close at $10.50 for a $1.20 fall, National Commercial Bank 57,933 shares to close at $18.10 for a 20 drop, Pan Jamaican Investment 2,400 units to end 23 cents lower at $49.05 and Sagicor Group with 23,157 shares in closing at $9.03 for a 47 cents fall.
Junior Market| The JSE Junior Market Index declined by 6.86 points to close at 747.40 as 10 stocks traded with 4 advancing and 2 declining.
Gains| Stocks recording gains at the end of trading in the junior market are Dolphin Cove that traded 1,000 units to close at $8.23 with a gain of 3 cents, Medical Disposables 391,382 shares to close with a one cent gain at $2.05, Jamaican Teas up 29 cents to end at $3.50 for 49,470 shares and Lasco Manufacturing traded 1,035,268 units to close up a cent at $1.20.
Firm Trades| 4 stocks in the junior market that traded to close at the same price as the day before with Access Financial Services trading 4,044 units at $11.50, Caribbean Producers with 200,000 units to close at $3, Consolidated Bakeries 108,000 to close at $1.10 and Lasco Financial Services 31,200 shares at $1.20.
Declines| Stocks declining in the junior market at the end of trading are General Accident that traded 7,000 units at $1.50 as the price lost 10 cents and Lasco Distributors with 8,000 units, closed 5 cents lower at $1.35.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had only 3 stocks with the bid higher than the last selling price and 8 stocks with offers that were lower.

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

Advancing stocks top declines

May 5, 2014 by

In Monday’s trading on the Jamaica Stock Exchange the prices of 6 stocks rose and 3 declined as 21 securities traded resulting in 5,426,535 shares changing hands valued at $14,802,328. The IC market sentiment indicator is pointing to continued fluidity in prices with almost an even number of stocks with bids and offers above or below their last traded prices.
JSE 5-5-14Main Market| 5 companies in the main market advanced, only 3 declined as the indices moved down with the JSE Market Index falling by 603.54 points to 73,988.69 and the JSE All Jamaican Composite index declining by 674.86 points to close at 81,440.97.
Gains| Stocks recording gains at the end of trading in the main market are Cable & Wireless trading 16,832 shares to close with a gain of one cent at 41 cents, Desnoes & Geddes gained 20 cents to close at $4.50 with 450 units changing hands, National Commercial Bank 1,690 shares to close at $18.30 with a gain of 20 cents, Pan Jamaican Investment with 101,574 shares to close at $49.28, up 23 cents. Radio Jamaica had 4,900,000 units changing hands to close with a 4 cents gain at $1.32.
Firm| There were only 6 stocks in the main market to close without a change in price as Gleaner with 22,980 shares closed at $1.10, Grace Kennedy 810 units helped the price to close at $56.51, Jamaica Broilers traded 113,552 shares to close at $4.85, Mayberry Investments with 1,020 shares closed at $1.70, Sagicor Real Estate Fund traded 11,930 units to close at $6.50 and Scotia Group with 18,575 units closed at $20.50.
Declines| The number of stocks that declined in the main market are Jamaica Money Market Brokers with 1,298 shares in losing 2 cents to end at $7.22, Sagicor Group 106,867 shares to close down by 30 cents at $9.50 and Seprod with 1,022 at $10.80 for a 4 cents fall.
Junior Market| The JSE Junior Market Index advanced by 2.92 points to close at 754.26 as only 6 stocks traded in that market.
Gains| Lasco Manufacturing was the only stock recording a gain at the end of trading in the junior market as 44,697 shares changed hands to close up by 9 cents at $1.19.
Firm Trades| Stocks in the junior market that traded to close at the same price as the day before are AMG Packaging with 500 units at $3.50, Blue Power with 19,438 units at $9.01, Derrimon Trading 12,000 units at $2.28, Lasco Distributors 37,300 shares at $1.40 and Lasco Financial Services 14,000 units at $1.20. Access Financial 9% Unsecured Short Term Notes traded 9,000 units at $99.50.
Declines| No stock declined in the junior market at the end of trading on Monday.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 8 stocks with the bid higher than the last selling price and 9 stocks with offers that were lower.

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

Very moderate market movement

May 2, 2014 by

There was very moderate activity on the Jamaica Stock Exchange at the close of the trading week as the prices of 10 stocks rose and 8 declined as only 25 securities traded in a very slow market session resulting in 1,571,377 shares trading valued at a mere $8,273,649.
JSE sum 2-5-14Main Market| Six companies in the main and US dollar markets advanced and 6 declined as the indices moved down moderately with the JSE Market Index inching down by 6.80 points to 74,592.23 and the JSE All Jamaican Composite index shedding just 7.60 points to close at 82,115.83.
Gains| Stocks recording gains at the end of trading in the main market are Kingston Wharves with 9,534 shares to close with a gain of 48 cents at $5.99, National Commercial Bank gained 10 cents to close at $18.10 with 9,100 units changing hands, Proven Investments ordinary share, with 8,570 units to close up 0.02 us cents at 18 US cents, Sagicor Group 18,000 units closing at $9.80 for a 30 cents gain, Salada Foods 5,000 shares to close at $8 as the price gained 50 cents and Scotia Investments with only 700 shares to end at $23.10 for a gain of 10 cents.
Firm| There were only 4 stocks in the main market to close without a change in price as Cable & Wireless with 43,699 shares closed at 40 cents, Carreras with 5,000 units closed at $33.56, Jamaica Money Market Brokers 7.50% preference share traded 500,000 and closed at $2 and Proven Investments 8% preference share with 381,800 units closed at $5.07.
Declines| The stocks declining in the main market are Gleaner with 2,500 shares while falling a cent to close at $1.10, Grace Kennedy lost $1.49 to end at $56.51 with 1,600 shares, Jamaica Broilers exchanged 20,538 units to close down a cent at $4.85. Pan Jamaican Investment 10,529 shares to end 55 cents lower at $49.05, Scotia Group had 110,308 units at $20.50 at the close as the price shed 12 cents and Supreme Ventures 3,800 shares to close with a 5 cents decline at $2.05.
Junior Market| The JSE Junior Market Index declined by 8.14 points to close at 751.34 as 9 stocks traded with 4 advancing and only 2 declining.
Gains| Stocks recording gains at the end of trading in the junior market are AMG Packaging that traded 5,560 units to close at $3.50, up by a cent, Access Financial with 72,600 units to close at $11.50 with a gain of $1.50, Caribbean Cream 3,000 units to close at 79 cents with a 4 cents increase and Caribbean Producers with 90,000 units in closing at $3, up 2 cents.
Firm Trades| The 3 stocks in the junior market traded to close at the same price as the day before are Blue Power with 3,400 shares in closing at $9.01, Lasco Financial 3,000 shares while closing at $1.20 and Medical Disposables 94,700 units, closing at $2.04.
Declines| Stocks declining in the junior market at the end of trading are General Accident with 2,000 units a $1.60, down 10 cents and Lasco Manufacturing with 166,439 shares to end down by 10 cents at $1.10.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 3 stocks with the bid higher than the last selling price and 4 stocks with offers that were lower.

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