Wednesday, 4th September 2013 | Trading activity on the Jamaica Stock Exchange was moderate notwithstanding the 4.667 million units which traded at a value of $25.7 million. Trading took place in only 25 stocks with 1 from the preference sector resulting in 8 stocks advancing to 4 declining. The index for the main market fell as the all Jamaica index being off the most by 1,041.87 to close at 84,848.72 and the main market index off 592.14 to end at 84,771.43. As indicated on Tuesday, this was expected to happen with that day’s movement in Scotia Group hitting $23.49 but closing at $22. Today, it closed at $21.20, giving back all the gains it had on Tuesday.

Caribbean Cement traded  38,155 units firm at $2; Grace traded 10,905 units at $56.60 up 10 cents; Jamaica Money Market Brokers exchanged 172,923 units and closed firm at $8; National Commercial Bank traded 87,412 units at $18.55 up 5 cents, while Sagicor Life enjoyed a big day with 865,150 units gained 44 cents to close at $8.60; Scotia Group traded 127,072 to closed down 80 cents at $21.20; Scotia Investments chipped in with 34,800 to close at $26.20 up 4 cents and Proven preference shares delivered 1,465,850 units firm at $5.09.

The junior market index slipped 2.20 to close at 780.17. Caribbean Creams traded 320,700 units to close at $1.02 a gain of 2 cents; Caribbean Producers exchanged 510,000 units firm at $2.03; General Accident chipped in with 66,000 units to close at $1.71 for a 1 cent gain; Jamaican Teas lost 20 cents to close at $4.20 as it traded 22,043 units; Lasco Financial Services traded 297,535 and closed at $1.42, down 2 cents, while Lasco manufacturing closed at $1.60 a 2 cents decline with 277,428 units and Paramount Trading 66,305 units firm at $3.30.

IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator shows that bids for 5 stocks were higher with 2 stocks having offers lower than their last selling price.

Tuesday, 3rd September 2013 | Unlike Monday when trading levels were very moderate, trading picked up on Tuesday with 9 million units changing hands valued at $41.6 million.

Proven Preference shares traded 4 million units valued at $20.4 million as the stock closed firm at $5.09; Scotia Bank traded as high as $23.49 but closed down at $22. These movements were the main factors driving the two main indices up sharply at the close. Indications are that the price indices could fall quite a bit when trading closes on Wednesday unless a stock such as NCB picks up appreciably in price. The all Jamaica index which nose dived 1,051.58 jumped 1,621.05 today to end up at 85890.59, while the main market index that slipped 597.66 on Monday was up sharply by 921.32 to 84,363.57. The junior market index bucked the positive trend by falling 0.88 to close at 782.37. Trading resulted in 25 securities exchanging ownership of which 10 advanced, 3 declined and 13 traded firm.

Trades today with reasonable volumes were Carreras with 24,051 to close at $46.40, an increase of 40 cents; Jamaica Broilers Group accounted for 1,533,057 valued at $7.97 million to close 6 cents up at $5.20; Jamaica Producers 14,260 to close at $18.25; Kingston Wharves 15,014 units and closed at $7; Mayberry Investments contributed 33,386 was firm at $2.60. National Commercial Bank 278,547 units closed firm at $18.50 as it accounted for $5.15 million of the total value traded; Sagicor Investments 83,000 units at $16.55 at the close, down 5 cents; Sagicor Life Jamaica 17,201 closed firm at $8.16 and Scotia Group 7878,700 units traded resulting in the price rising 55 cents to end of trading at $22. Having traded as high as $23.49 for a value of $18.3 million, the bulk of buying was conducted by Scotia Investment for clients.

Junior market | Trading picked up on Tuesday with 8 stocks changing hands in this segment of the market. Jamaican Teas which traded a million shares at $4.40 exchanged another million units today with the price closing firm at $4.40 with a value of $4.4 million; Blue Power gained 6 cents to close at $9.28 with 11,124 units; Caribbean Producers put in 308,00 units while trading firm at $2.03.  Lasco Distributors traded 143,610 units up 5 cents to close at $1.50; Lasco Financial Services added 29,040 in trading at $1.44 for an increase of 4 cents; Lasco Manufacturing accounted for 415,241 firm at $1.62 up 6 cents and investors moved 256,036 units of Paramount Trading through the market as the price closed firm at $3.30.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator shows that bids for 6 stocks were higher with 2 stocks having offers lower than their last selling price. This is the second day in a row that this indicator has been strong and could mean that the market is once more ready to move upwards.

Monday, 2nd September 2013 | Trading levels were very moderate on the first trading day of September with 1.7 million units changing hands valued at $11.4 million, making it one of the worse days for the market. The all Jamaica index dropped 1,051.58 to end down at 84,269.54 while the main market index slipped 597.66 to 84,442.25. The junior market index also fell by 9.17 to close at 783.25.

In today’s trading, 21 securities traded of which 4 advanced, 7 declined and 10 traded firm. The run up in the prices of some stocks on the last two trading days of August and the sharp fall on Monday suggest that some interested parties manipulated prices for portfolio purposes. With the objective achieved, prices have fallen back at the start of the new month.

Trades with reasonable volumes were Caribbean Cement with 269,030 to close at $2; National Commercial Bank 204,143 units at $18.5o, Sagicor Investments 83,382 to close at $16.60; Sagicor Life Jamaica 33,103 units closing at $8.16 and Scotia Group just 16,198 unit for the price rise to $21.45.

Junior market trading was light with only 4 stocks trading and with only Jamaican Teas recording any volume to speak of with a million shares trading at $4.40 up 38 cents. Dolphin Cove traded 10,161 units and dropped to $8 at the close down 30 cents.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator shows that bids for 8 stocks were higher with 2 stocks having offers lower than their last selling price.

Friday, 30th August 2013 | The stock market main indices climbed in today’s trading but that disguises the fact that at the close the number of advancing stocks were only 3 compared to those that fell as trading took place in 26 securities of which 3 advanced, 10 declined and 13 traded firm with 2,414,128 shares trading valued at $12,894,753..

The Jamaica stock market’s main indices gained ground for the second day on Friday’s as the all Jamaica index gained 567.08 to end at 85321.12 while the main market index gained 322.30 to 85,039.91. The junior market index gained 13.90 to close at 792.42.

Stocks traded with good volumes include Carreras 27,717 valued at $1.3 million to close at $46 off $1.50; Caribbean Cement with 56,380 units to close at $2.00. down 30 cents. as the stock retreats from its rapid recent accent to $3; Desnoes & Geddes 200,000 units which was firm at $4.50 for a value of $900,000; Grace Kennedy 50,862 units at $56 valued at $2.855 million as the price fell by $1; Jamaica Broilers 143,172 units up 9 cents to $5.14; Jamaica Money Market Brokers 39,128 units firm at $8; Jamaica Stock Exchange ordinary shares traded 929,650 units and lost 10 cents to close at $2.90 for a value of $2.746 million; National Commercial Bank 52,087 units valued at $1 million as the price closed at $18.60 down 40 cents;  Scotia Group Jamaica 44,689 units valued at $957,000 at $21.50 up 15 cents; JMMB 8.5% preference stock 324,605 units firm at $3 valued at $973,000.

Junior Market | Nine junior market stocks traded as Caribbean Cream traded 23,000 units to close at $1.05 off 1 cents; Caribbean Producers Jamaica 34,627 units at $2.03; Consolidated Bakeries 16,730 units at $1.45 as loss of 5 cents; Honey Bun 12,421 units firm at $3.50; Lasco Distributors 318,344 units, closed at $1.45 down 1 cents and Lasco Manufacturing 20,453 units at $1.55. Blue Power lost 77 cents to close at $9.20 with a mere 778 units.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator shows that bids for 5 stocks were higher with 2 stocks having offers lower than their last selling price.

Thursday, 29th August 2013 | Carreras shares recovered from Wednesday’s slide by putting on $2.50, which is 50 cents more than it lost, as the stock traded between $46.89 and $48. The gain in Carreras helped the Jamaica Stock market’s main indices to gain ground as the All Jamaica index gained 417.80 to end up at 84,754.04, while the Main Market Index gained 237.45 to 84,717.61. The Junior Market Index bucked the positive trend by falling 19.56 to close at 778.52. In today’s trading 31 securities traded of which 7 advanced, 9 declined and 16 traded firm as 4,856,227 shares traded with a value of $30,498,966.

Stocks that traded with good volumes include Berger Paints 450,000 units valued at $1,012,600 trading at $2.25; Carreras 51,561 valued at $2,429,258 to close at $47.50 a gain of $2.50; Caribbean Cement chipped in with 115,700 to close at $2.30 down 44 cents as trade accounted for $265,820; Desnoes & Geddes 521,832 units firm at $4.50 for a value of $2,348,244; Hardware & Lumber 105,000 units at $4.50 valued at $474,400 as the price fell by 10 cents; Mayberry Investments 90,739 units firm at $2.60; National Commercial Bank 342,222 units valued at $6,497,121 closing at $19 up 39 cents; Sagicor Life Jamaica 44,174 units as the price closed at $8.20 up 3 cents; Scotia Group Jamaica 181,319 units valued at $3,871,161 at $21.35 up 28 cents; Proven Investments 8% preference stock 1,733,460 units firm at $5.09 valued at $8,823,311.

Jamaica Stock Exchange ordinary shares traded 16,715 units lost 10 cents to close at $3.

Junior Market | The number of stocks in junior market advancing was less than those declining. Access Financial Services traded 281,700 to close at $8.20 off 5 cents; Caribbean Producers Jamaica 128,413 units at $2.03; Consolidated Bakeries 37,500 units at $1.45 as loss of 5 cents; General Accident Insurance 157,822 units at $1.70 down 20 cents; KLE Group 22,682 units to closed firm at $1.61; Lasco Distributors 22,000 units, closed at $1.46 down 8 cents; Lasco Financial Services 129,482 to close at $1.40 down 2 cents and Lasco Manufacturing 255,030 at 1.60 up a cent.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator shows that bids for 8 stocks were higher with 3 stocks having offers lower than their last selling price.

After the Bell | Scotia Group Jamaica reported net income of $3.06 billion for the third quarter ended July 31, 2013. This is $127 million above the previous quarter ended April 30, 2013 and $468 million above the quarter ended July 31, 2012. For the nine months ended July 31, 2013, net income was $8.71 billion compared to $7.95 billion for the same period last year. Earnings per share (EPS) for the nine months was $2.70 compared to $2.45 for the same period last year. Today the Board of Directors approved a third interim dividend of 40 cents per stock unit payable on October 9, 2013, to stockholders on record at September 18, 2013.

Scotia Investments Jamaica reported its unaudited financial results for the nine months ended July 31, 2013. Net income for the quarter was $562 million or 51 percent above the $372 million earned in the previous quarter and 18 percent above the $477 million made in the 2012 quarter. For the nine months ended July 31, 2013, net income was $1.421 billion, down $90 million or 6 percent when compared to the same period last year. Earnings per share (EPS) for the nine months was $3.36 compared to $3.57 for the same period last year. The Return on Average Equity (ROE) stood at 16.10 percent, down from 18.69 percent reported for the last year. The Board of Directors has approved an interim dividend of 45 cents per stock unit, payable on October 9, 2013, to stockholders on record as at September 18, 2013.

Desnoes & Geddes reported flat profits of $1.2 billion for the twelve months to June this year as redundancy payment of $150 million and an adjustment of $88 million relating to 2012 taxation bit into net profits. As such, the June quarter results came in at $161 million compared to $472 million in the same quarter last year.

First Caribbean International Bank continues to be plagued by nonperforming loans as the banking group reported another disappointing quarterly profit of US$9 million versus US$18 million last year, while the nine months results came in at US$43 million compared to US$47 million in 2012.

Wednesday 28th August 2013 | Trading on the Jamaica Stock Exchange remains low keyed with stocks of 32 companies trading as 11 stocks declined an 8 advanced. Volume amounted to 5,249,151 units valued at $15.5 million.

The Main Market Index closed at 84,480.16 down 169.90, the All Jamaica Composite ended at 84,336.24 off 298.93 and the Junior Market closed at 798.08, up 8.41.

Main market | Carreras dropped $3 to $45 but with only 1,090 shares trading the stock traded as low as $45 but had a bid at the end of the day at $47 for a small volume of 250 units. Jamaica Broilers Group closed firm at $5 with 37,050; Jamaica Money Market Brokers traded 31,163 to close firm at $8; Mayberry Investments closed at $2.60 with 106,728; National Commercial Bank closed at $18.61 as 29,676 units traded as the price shed a cent; Pulse Investments closed at 85 cents down 15 cents as 114,600 changed hands and Sagicor Investments traded 86,904 units firm at $16.55. Kingston Wharves lost 40 cents to close at $7 as 4,562 units traded. Carib Cement lost 6 cents to close at $2.74 as demand dropped with a bid at the close at $2.11.

Junior market | 11 stocks in the Junior Market traded with Dolphin Cove 25,000 units to close at $8.30 after it had traded at $9 the stock lost 20 cents; General Accident Insurance saw 1,542,480 units crossing the exchange and closed at $1.90 up 5 cents; Access Financial Services traded 10,554 at $8.25 down 25 cents; Consolidated Bakeries traded 10,000 units firm to close at $1.50. KLE Group hit a new all-time low at $1.61 while trading 7,000 and lost 9 cents. Lasco Distributors traded 114,060 to close at $1.55 up 9 cents; Lasco Financial Services contributed 2,507,000 units to the total at the closing price of $1.42, up a cent.

IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator shows that bids for 5 stocks were higher with 4 stocks having offers lower than their last selling price.

Image courtesy of Photokanok/FreeDigitalPhotos.net 

Tuesday, 27th August 2013 | Carreras lost ground as the closed at $47, a 52 weeks low, with just 7,868 shares trading between $47 and $48.52, losing $2 in the process as demand for the stock evaporates following the smoking ban in public spaces and the sharp drop in profits in the June quarter. The stock seems destined to decline further as there are 343,835 units on the offer at $49 but only 6 bids for about 12,000 shares at the close with 10,000 of them at $42.01.

The market lost some ground in trading with the advance decline ratio being evenly matched with 9 stocks advancing in price to 10 that fell, the closeness is reflected in the small movement of the all Jamaican Composite Index that closed at 84,635.17, a fall of just 56.52 as the stocks of 31 companies traded, one of the highest numbers for some time. Thanks to a $1 fall in the heavily weighted First Caribbean International Bank, the Main Market Index dropped to 84,650.06, down 286.62. Trading resulted in 2.42 million units at value of $20,314,792.

Caribbean Cement lost ground after a relentless run, which took it from under a $1 prior to the release of the six months results, in trading 20,100 units to close at $2.75 a decline of 25 cents. On Friday last, the stock traded as high as $3.30. Grace Kennedy closed at $56.70 with 11,825 units changing hands as the stock lost 30 cents. Jamaica Money Market Brokers traded 69,034 to close at $8, down 3 cents; Jamaica Producers Group was the big trader on the day with 552,027 units valued at$10,045,787 at a closing price of $18.20 which is up 70 cents on the last traded price on Monday; National Commercial Bank had one of the better trading days for some time with 133,650 units at a closing price of $18.62, a 2 cents increase as trading accounted for $2,488,524.

Sagicor Life Jamaica contributed 35,895 units to trading at a closing price of $8.15, up 5 cents; Scotia Group chipped in with 27,963 units at a closing price of $21.05 up a cent and Supreme Ventures had 30,000 units trading at $2.65 up 10 cents. Salada lost 50 cents to close at $8.50 with 1.170 units.

Junior market | Ten junior market stocks traded, resulting in prices rising for 5 and falling for 2, helping to move the index up by 4.48 to 789.67. Stocks trading in worthwhile volume are Access Financial Services, 97,481 closed at $8.50 up 25 cents; Blue Power Grou, 166,271 closing at $10 for an increase of 50 cents; Caribbean Producers, 49,000, at a closing price of $2.03, down 7 cents; Dolphin Cove, 24,978 at $8.50 up 30 cents; Lasco Distributors contributed 63,652 units and closed at $1.46 off 9 cents on the day; Lasco Financial Services 956,518 units at $1.41 down 9 cents; Lasco Manufacturing 43,154 traded firm at $1.60 up 2 cents.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator shows that bids for 5 stocks were higher with 4 stocks having offers lower than their last selling price. This ratio continues to reflect a weakened position for the market at least for the time being.

Monday, 26th August 2013 | Even as stocks of 26 companies traded on Monday, trading levels continued to be low with 4.67 million units trading valued at $15.4 million of which the Proven preference shares accounted for 1.7 million units valued at $8,692,193 as the stock price closed at $5.09.

There were 6 stocks advancing and 4 declining as the main indices declined with the junior market index closing up marginally to close at 785.19. The all Jamaican composite index closed at 84,691.69 down 263.02 points and the main market index was down 149.48 and closed at 84,936.68.

Cable & Wireless had a volume of 1,141,222 with the price closing firm at 18 cents; Caribbean Cement accounted for 518,445 and closed firm at $3; Desnoes & Geddes 17,385 shares closed at $4.50, down 5 cents; Jamaica Money Market Brokers 12,507 shares closed at $8.03, down 7 cents; Kingston Wharves 50,100 traded firm at $7.40 at the close; Mayberry Investments traded 45,622 units and closed at $2.61, down 2  cents; National Commercial Bank had 12,486 units to close at $18.60, gaining 7 cents; Scotia Group Jamaica chipped in with 96,763 at $21.05 and gained 2 cents.

Junior market | Caribbean Cream 709,724 units at $1.05; Consolidated Bakeries 135,500 traded at $1.50 at the close, up 9 cents; Lasco Financial Services 83,000 at $1.50 up 5 cents; Lasco Manufacturing 25,500 traded firm at $1.58; Paramount Trading, traded 60,000 firm at $3.30.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator shows that bids for 3 stocks were higher with 2 stocks having offers lower than their last selling price. This ratio is now reflecting a weakened position for the market, at least for the time being.