Access moved to Market Watch

December 21, 2013 by

Friday, 20th December 2013 | IC Insider has moved Access Financial to the Market Watch list with a hold placed on the stock for the time being as the recent price movement has moved the stock close to full valuation based on estimated 2013 earnings. The Junior Market stock should be held as supply is very low and the price should move up further.

IC Insider projects $1.70 per share earnings for 2014, which means that there is still room for growth, but the potential for price appreciation lags the majority of stocks in the market currently and, therefore, it no longer deserves a Buy Rating accolade. Access Financial has gained 36 percent since being tagged as Buy Rated on the 15th of July. Access also paid a dividend of 31 cents per share on August 15, bringing the total gross gains to 40 percent.

Elsewhere, the list remains as it was although the prices of some of the selections have moved up in the last week. There are strong signs that the prices of many of the selections, particularly those in Jamaica, will move up prior to the year end. This week, the Jamaica stock market closed with 12 stocks having bids above their last selling prices.

Lasco Manufacturing remains on the list not because of 2014 earnings which are unlikely to be very price positive, but based on the implications for revenues and profit with the start-up of operations of the new and expanded factory. This should be positive for the 2015 fiscal year ending in March.

BuyRatedWatchDec20Related posts | Access growth continues | LASCO manufactures more profits

Filed Under: Company News, JSE Main Market, Stock Market, Stocks to watch, TTSE Market Tagged With: ,

Buy Rated: More stocks performing

December 21, 2013 by

Friday, 20th December, 2013 | As the year grinds to a close, more of the Buy Rated stocks are showing growth. One such is Access Financial Services, which IC Insider placed a hold on and moved to the Market Watch list.

Caribbean Producers’ price has moved up to $2.60, a 28 percent gain since September when it was placed on the Buy Rated list. Meanwhile during the past week, the Lasco companies have reduced the level of losses suffered in November. Carib Cement has moved up with a 10 percent gain since selection in November and is expected to record further gains with the announcement of a price increase and exports to Venezuela.

BuyRatedGrowthDec20thJamaica Broilers moved up in the week to $4.51 thus reducing some of its losses, while Grace continues to bob and weave between $56 and $63. Others in the main market have been trimming their losses of recent months and are expected to continue to do so for the rest of the year.

On the Trinidad market, Scotia Investments fell 13 percent during the week from the Buy Rated entry point. Most others remained relatively stable. There are now 3 losses in the Trinidad section while there are 8 winners.

Related posts | Access moved to Market Watch

Filed Under: Company News, JSE Main Market, Stock Market, Stocks to watch, TTSE Market Tagged With:

JSE: Market ends week positively

December 20, 2013 by

Friday, 20th December, 2013 | Nine of the 19 stocks that traded on the Jamaica Stock Market recorded price gains to 4 that recorded losses. Access Financial Services recorded a new 52 weeks high at the end of trading and so did newly listed Derrimon Trading. There was trading in 1,733,982 units with a value of $59,289,909.

Indices | Trading activity resulted in the JSE Market Index advancing by 155.23 to close at 78,667.65, the All Jamaican Composite moved up by 269.86 to close at 78,575.66 and the JSE Junior Market Index closed at 771.27 for an increase of 3.11. Except for Monday, when the indices fell, there were increases for all the other days during week for the main market and the all Jamaican indices.

Trading took place mostly in Caribbean Cement 10,000 shares to close up 35 cents at $2.85; Gleaner Company 41,500 units at $1.10; Grace Kennedy traded a big 1,024,228 shares at $56 down $7 but it traded as high as $62 during the day; Jamaica Broilers Group gained 12 cents to close at $4.51 with 4,107 shares; Scotia Group traded just 5,824 but closed up 45 cents to end at $19; Seprod exchanged 6,146 units to close down 50 cents at $10.50; Supreme Ventures swapped 40,000 shares to close firm at $2.68.

Jamaica Money Market Brokers 8.75% preference share traded 324,500 units at $3.

JSEIndicesDec20Junior Market | Access Financial Services reached a new all-time high of $11.38 by gaining 38 cents but with a mere 500 units changing hands. Consolidated Bakeries traded 131,000 units to close firm at $1.30; Derrimon Trading exchanged 80,000 shares and gained 10 cents to close at a new high of $2.50 and gained 24 percent on the IPO price of $2.05 and Lasco Manufacturing traded 51,000 to close at $1.40.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had weakened somewhat to 12 stocks with bids higher than the last selling prices versus Thursday’s 17 stocks and 4 offers that were lower compared to 5 on Thursday. The indicator remains strong nevertheless at the end of the week.

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

JSE: Very strong bull signal

December 19, 2013 by

Thursday, 19th December 2013 | While trading on the Jamaica Stock Exchange saw low volume and values, that may have obscured the signal from the market which was by far the strongest since IC Insider has been reporting the Investor’s Choice sentiment indicator in mid-May. At the end of trading the Investor’s Choice bid-offer indicator show bids for 17 stocks higher with 5 offers lower than their last selling prices.

Eight of the 23 stocks that traded recorded price gains to four that recorded losses. One stock recorded a new 52 week closing high at the end of trading. There was trading in 2,091,302 units with a value of $7,208,384.

Indices | Trading activity resulted in the JSE Market Index advancing by 534.21 to close at 78,512.42, the JSE All Jamaican Composite moved up by 928.72 to close at 78,305.80 and the JSE Junior Market Index closed at 768.16 for a decrease of 10.08.

Main Market | Cable and Wireless traded 330,540 units to close unchanged at 16 cents; Caribbean Cement exchanged 8,698 units to close up by 25 cents at $2.50; Carreras exchanged 12,000 units at $36.75, for a gain of $1; Desnoes & Geddes traded just 6,175 but the price rose by 11 cents to close at $4.30; Gleaner Company traded 49,447 units at $1.15; Jamaica Money Market Brokers swapped 13,535 firm at $7.60; National Commercial Bank recorded 116,523 units down 20 cents at $17; Sagicor Real Estate X Fund traded 6,000 to close up 25 cents at $6.30, a new record close; Scotia Group traded 36,885 units to close at $18.55 up 5 cents, while Seprod traded 15,972 shares firm at $11.

JSEIndicesDec19Jamaica Money Market Brokers 8.75% preference share traded 194,287 units firm at $3.

Junior market | The number of companies trading in the Junior market declined to 6 from Wednesday’s 12. In trading, Caribbean Producers traded 148,985 units to close unchanged at $2.60; newly listed Derrimon Trading had a second day of good volume as 974,748 shares changed hands to close firm at $2.40; Lasco Distributors traded 54,151 units to close at $1.39 and Lasco Manufacturing traded 97,733 units to close at $1.39, down 16 cents.

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

JSE: Market up ticks

December 18, 2013 by

Wednesday, 18th December 2013 | Trading on the Jamaica Stock Exchange saw increased activity in the junior market with 12 of the stocks trading. There were three stocks that recorded new 52 weeks closing highs at the end of trading. The total volume of stocks traded amounted 10,512,394 units with a value of $19,909,321.

Indices | Trading activity resulted in the JSE Market Index advanced 286.12 closed at 77,978.21, the JSE All Jamaican Composite moved up 497.41 to close at 77,377.08 and the JSE Junior Market Index closed at 778.24 for an increase of 9.73.

Main Market | Cable and Wireless traded 8,141,059 units to close unperturbed at 16 cents; Grace Kennedy exchanged 66,565 units at $63 up by $2; Kingston Wharves exchanged 8,983 units firm at $6.06; National Commercial Bank continues to struggle in trading with only 7,800 units trading to close unchanged at $17.20; Sagicor Real Estate X Fund traded 10,000 to close up 5 cents at $6.05, a new record close; Scotia Group traded 523,684 units to close at $18.25, down by $1.75 while its subsidiary Scotia Investments traded 20500 units as the price lost 56 cents to end at $25.

Jamaica Money Market Brokers 7.5% preference share traded 50,000 units at $2.

Junior market | The Junior market saw trading in 12 companies, the most for some time with Access Financial Services reaching a new all time high of $11 by putting on $1 as it traded 12,000 units.

JSEIndicesDec18Blue Power Group exchanged 35,568 units as the price rose 12 cents to end at $9.50; Caribbean Cream produced 232,000 shares as the price slipped 2 cents to end at $1; Caribbean Producers traded 10,000 units to close unchanged at $2.55, newly listed Derrimon Trading exchanged 979,226 and put on 5 cents to end at $2.40 a new high; General Accident Insurance traded 30,000 shares to close firm at $1.62; Honey Bun exchanged 35,316 units at $3.41; Lasco Distributors traded 103,240 units and closed firm at $1.40; Lasco Financial Services put in 14,152 units but the price slipped 5 cents to $1.07 at the close; Lasco Manufacturing traded 201,710 units to close at $1.55 up 2 cents and Paramount Trading traded 16,273 shares firm at $3.51.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator show bids for 9 stocks higher and 4 offers lower than their last selling prices.

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

JSE: Derrimon Trading starts

December 17, 2013 by

Tuesday 17th December, 2013 | Derrimon Trading Company started trading on the Jamaica Stock Exchange today with 27,500 shares at $2.35. The IPO, which closed on December 2, was issued at $2.05 to the public. At the end of trading, there were 2 bids for 70,200 units at $2.30 and two offers at $2.35 to sell 26,052 units.

The total volume in the market for the day came to 5,628,340 with a value of only $38,602,410.

Indices | Trading activity resulted in the JSE Market Index closing at 77,624.11, a decline of 253.78, the JSE All Jamaican Composite at 76761.49, having declined by 441.19 and the JSE Junior Market Index at 752.77 for a decline of 0.62.

Main Market | Cable and Wireless traded 1,234,263 units to close at 16 cents; Caribbean Cement swapped 240,982 units at $2.30, as it gained 8 cents; Carreras 26,930 units were traded at $35.80, up 9 cents; Grace Kennedy exchanged 250,000 units at $61; Jamaica Broilers Group traded 46,315 units at the price closed up  cents at $4.31, up 8 cents; Jamaica Money Market Brokers had 100,000 units trading unchanged at $7.87; Kingston Wharves exchanged 32,899 units at $6.06; National Commercial Bank struggling to hold the $17 price range exchanged 32,465 units to close unchanged at $17.20; Sagicor Real Estate X Fund traded 10,000 to close up 5 cents at $6.05, a new record close; Scotia Group even after posting record numbers for 2013 is fighting to break out of the current range, traded 20,574 units to close at $18.25, down by $1.75 while its subsidiary Scotia Investments traded 4,213 units as the price lost $1.39 to end at $25.56. Seprod put in a large volume of 1,214,061 and the price recovered back to $11 by putting on $1. Supreme Ventures put in 51,900 units to close up 18 cents at $2.68.

Jamaica Money Market Brokers 8.75% preference share closed up 10 cents as 888,107 units traded at $3.

JSEIndicesDec17Junior market | The Junior market had one new listing bringing to 20 the number of ordinary shares listed in this segment of the market. In trading C2W Music exchanged 45,000 at 29 cents but there are still a large number of shares to sell; Caribbean Producers traded a s high as $2.74 but closed lower as 374,934 units traded and the price ended up 5 cents at $2.55; Dolphin Cove traded 20,187 units firma at $8.50; Lasco Distributors had a good volume of 465,000 as it closed firm at $1.40; Lasco Financial Services put in 128,000 units but only managed to hold onto $1.12 at the close and Lasco Manufacturing traded a nice volume of 368,706 units to close at $1.53 up 14 cents.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator show bids for 10 stocks higher and 2 offers lower than their last selling prices.

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

JSE: Down start to a new week

December 16, 2013 by

Monday, 16th December 2013 | Trading on the Jamaica Stock Exchange was dominated by Grace Kennedy and Scotia Group having the largest volume and value of stocks changing hands along with Caribbean Producers in the junior market. However, that did not prevent all the indices from falling even as advancing stocks were slightly ahead of declining ones. At the end of trading, 6 stocks recorded price gains to 5 that fell and 3,798,248 shares changed hands with a value of $45,122,046.

Indices | The JSE Market Index closed at 77,624.11, to fall by 253.78, the JSE All Jamaican Composite closed at 76761.49, having declined by 441.19 and the JSE Junior Market Index closed at 752.77 for a decline of 0.62.

Stocks trading include Cable & Wireless with 294,583 units as it closed firm at 16 cents; Carreras 6,435 shares at $35.71 down 29 cents; Grace Kennedy 385,355 units closing at $60.99, down a cent; Jamaica Broilers 9,516 shares as the price fell by 7 cents at $4.23; Jamaica Money Market Brokers with 95,723 units to close firm at $.7.87; National Commercial Bank swapped 34,375 shares to close at $17.20 up 20 cents; Sagicor Life 58,500 shares to close firm at $8.45; Sagicor Real Estate X Fund 21,050 units closing unchanged at $6; Scotia Group 764,201 units as the price closed up $1 at $20; Seprod lost 70 cents when trading 22,550 units to close at $10.

JSEIndicesDec16Junior Market | Stocks of 4 companies traded in the junior market on Monday with only Caribbean Producers with 2,075,098 recorded any worthwhile volume. The price closed at $2.50 unchanged from Friday’s close. Lasco Financial traded 7,000 units at $1.12.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator show bids for 8 stocks higher with no offers that were lower than their last selling prices.

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

Marked changes for Buy Rated stocks

December 13, 2013 by

Friday 13th December 2013 | There were a number of noticeable price changes to Jamaican stocks on the IC Insider Buy Rated Stock list, while the prices of the Trinidad stocks were fairly stable with the exception of Trinidad Cement (TCL) that slipping by 7 percent by the end of the week. However, TCL is still the star performer with a 118% increase since being added to the Buy Rated stock list.

JSE Junior Market | Access, which is up 21 percent since being selected as a Buy Rated stock, gained a bit during the week based on the bid price which is above the last selling price. Blue Power lost 7 percent to end at $9.38, Caribbean Producers moved up to $2.50 during the week for a gain of 23 percent but Lasco Financial lost 15 percent during the week to sit on a 28 percent loss and Lasco Manufacturing is still down 16 percent after losing 1 percent during the week.

JSE Main Market | Barita gained 13 percent during the week to break even since being added to the Buy Rated list. According to stockbroker Mayberry Investments, Barita reported 2013 profits to September of $70.3 million versus $255 million in 2012. On the surface this seems disastrous but when the one-off loss of $240 million gross arising from the swapping of government bonds for new lower yielding ones is factored in, earnings would have been around $230 million for the year. The data for the year end results suggest a small loss was picked up in the last quarter as the company had reported a profit of $78.6 million up to June and the figures indicate a loss of $79 million on disposal of investments in the last quarter. Going forward, Barita should not encounter another debt exchange charge and has been able to recover from the reduction in interest rates obtained on the government debt. IC Insider will have a full analysis of Barita’s results with a forecast for 2014 when they are available.

BuyRated13DecCaribbean Cement gained 7 percent during the week but is under water 14 percent; Grace gained 7 percent for the week and is up 9 percent; Hardware & Lumber is up 14 percent based on the bid; National Commercial Bank is down 4 percent for the week and 12 percent from selection with the market reacting negatively to the company’s year end results; Sagicor Life lost 5 percent for the week and 15 percent since selection and Scotia Group fell 9 percent in the week and 11 percent since being selected; Scotia Investment gained 4 percent for the week and is up 3 percent so far.

On the Trinidad Exchange, Republic Bank earnings was upgraded to $9.50 based on 2014 prospects and is therefore a more attractive Buy Rated stock now that the 2013 results are out.

Of great note is that many of the Jamaican stocks, particularly those on the junior market, have very limited supplies and therefore could move significantly in the medium term. The message from the market is buy now while supply can be easily had.

Related posts | Profits up at Barita | NDX hits out Barita’s profit

Filed Under: Company News, JSE Main Market, Stock Market, TTSE Market Tagged With: ,

JSE: Market close week down

December 13, 2013 by

Friday, 13th December 2013 | Trading picked up somewhat on the last trading day of the week as the Jamaica Stock Market recorded another day of falling indices but 5 stocks advanced in price to 7 that fell and 1,926,732 shares traded with a value of $56,739,948.

Market Indices | The two main market indices fell by the end of trading with the JSE Market Index closing at 77,877.89 down by 218.42; the JSE All Jamaican Composite closed at 77,202.68, having a fall of 379.72 and the JSE Junior Market Index closed at 753.39 for a decline of 9.19.

Stocks trading comprised Cable & Wireless 235277 units firm at 16; Caribbean Cement 80,200 units at $2.30; Carreras 11,707 shares at $36.00; Grace Kennedy 908,837 units at $61 up by $5; Jamaica Broilers 18,770 closing firm at $4.30; Mayberry Investments 34,933 shares to close firm at $$2; National Commercial Bank 89,861 shares to close at $17 up 99 cents but not before the stock traded at a new 52 weeks low of $15.55; Sagicor Real Estate X Fund 3,950 units closing unchanged at $6, but only after the price hit a new all-time high of $6.60; Scotia Group 66,404 units as the price closed firm at $19 and Scotia Investments price retreated by 5 cents to $26.95.

JSEIndicesDec13Jamaica Money Market Brokers 7.50% preference share traded 50,000 units unchanged at $2 and the 8.75% traded 130,000 units at $2.90.

Junior Market | Stocks traded in the junior market with extremely low volume. Lasco Financial traded units at $1.30; Caribbean Producers traded 94,152 units and closed firm at $2.50; Dolphin Cove traded just 5,000 units at $8.50, an increase of 50 cents; General Accident Insurance traded 49,203 units at $1.62; Lasco Distributors had 12,000 units changing hands at $1.40 down 8 cents; Lasco Financial Services lost 19 cents to close at $1.11 while trading 90,000 shares, Lasco Manufacturing exchanged just 6,714 units at $1.39 as the price gained 9 cents and Eppley 9.5% preference shares traded firm for the first time at the issue price of $6 with 9,000 units.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator show bids for 8 stocks being higher with no offers that were lower than their last selling prices.

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

JSE ticker tape

December 13, 2013 by

Medical Disposables IPO closed | Medical Disposables IPO closed this morning just after 9:00am and shortly after the official opening, IC Insider have been informed. The company placed 63.157 million shares on offer at $1.83 to raise $115 million.

Guardian leaves us | Guardian Holdings will no longer be available to trade on the Jamaica Stock Exchange as the company has applied for the shares to be delisted effective end of December. The stock is still available for trading on the Trinidad & Tobago Stock Exchange where the company is mainly listed. The delisting means less listing fees for the JSE come 2014.

Sagicor Group list by year end | Sagicor Life is expected to be delisted from the JSE by year end. IC Insider gathers that the JSE gave approval for Sagicor Group the direct parent company for Sagicor Life and Sagicor Investments to be listed and Sagicor Life to be delisted. Existing shareholders of Sagicor Life will receive shares equal to their existing holdings in the new company.

Related posts | Medical Disposables, OK not great

Filed Under: Company News, General Business News, Initial Public Offers, JSE Main Market, Stock Market Tagged With: , ,