Friday, 23rd August 2013 | The market turned around today having lost altitude fairly sharply on Wednesday and Thursday with the prices of 11 stocks increasing to just 4 the at fell. Importantly, at the end of trading 10 stocks had bids that were above the last traded price with a mere 2 that had offers below the last price — a pretty bullish indicator — but this is after 2 two days of decline and will be worth watching.

The market traded 10,030,006 shares valued at $78.4 million with Jamaica Money Market Brokers being the dominant trade on the last trading day of the week with 6 million units valued at $48.5 million as the price gained 7 cents to end the day at $8.10. Jamaica Money Market Brokers sold 1,992,204 for a client at $8.10 to Mayberry Investments on behalf of a client. JMMB crossed the rest on behalf of clients. Caribbean Cement continues its relentless run with the price closing at a new 52 weeks high of $3 but not before it traded as high as $3.30, having recovered from a low of 60 cents earlier this year. A volume of 431,780 was the level of trading as the price gained 35 cents.

Main Market trades of note | The all Jamaica Index gained just 34.67 points to close at 84,854.71 and the JSE market index moved up by 19.70 to close at 85,086.16. Stocks trading with reasonable volume were Carreras 99,390 units at a value of $4.87 million as the stock closed at $49, Grace Kennedy 73,795 shares valued at $4.2 million and had a closing price of $57 for a gain of 25 cents, Kingston Wharves 389,475 valued at $2.9 million, between $7.40 and $7.70 but closed at $7.40 down10 cents, Sagicor Life Jamaica 149,000 at $1.2 million to close at $8.30 after shaving a cent off Thursday’s price and Scotia Group with 146,208 units with a value of $3 million, the stock closed at 21.03, up a cent.

JMMB 8.75% traded 216,447 at $3 valued at $649,341 and Proven Investment 8% preference shares traded 2.06 million units valued at $10.485 million while the ordinary shares, which are quoted in US dollars, traded 3,900 units at US12 cent.

Junior market | Trade in the junior market was light with stocks of only 7 companies trading, with the index inching up 1.33 to 783.46. Caribbean Cream traded 120,000 units at $1.05 the same price as Thursday, Caribbean Producers gained 7 cents while trading 10,104 units to close at $2.10, Lasco Distributors had trading in 102,609 shares, gained a cent to close at $1.55, Lasco Financial Services traded 45,040 shares, closed down 3 cents to $1.45 and Lasco Manufacturing lost a cents to $1.58.

Eppley shares have still not traded but the bid remains at $400 for 423 units. There are no stocks on offer at the close of trading.

Thursday, 22 August 2013 | Trading on the Jamaica Stock Exchange fell to the lowest levels for months as just $12 million was invested in stocks on a day when 11 stocks fell and just 6 increased in price as 3.5 million units traded with Cable & Wireless accounting for 1.5 million and closing firm at 17 cents.

The all Jamaica index declined by 259.76 to close at 84,920.04, the main market index closed at 85,066.46, a decline of 147.63. The junior market index put on a marginal increase to close at 782.13.

Main Market | Carreras lost 10 cents in trading 10,710 units to close at $49 as the stock remains under pressure. Grace Kennedy traded 10,100 shares to close at $56.75, down 24 cents, Jamaica Money Market Brokers contributed 71,009 to close at $8.03 up 3 cents. Jamaica Stock Exchange  chipped in with 70,350 units and closed at $3.10 off 15 cents. National Commercial Bank exchanged 38,300 shares and gained 3 cents to close at $18.53, Sagicor Investments put in 150,500 units, lost 20 cents and closed at $16.55, Sagicor Life Jamaica traded just 11,092 units to close at $8.31, off 9 cents and Scotia Investments saw 12,000 units trading firm at $26.15, Proven Investment Preference shares traded 1,009,800 to close at $5.07, off 2 cents for a value of $5,119,882. Jamaica Producers traded a small volume but lost 75 cents to close at $17.50. Caribbean Cement traded at a new 52 weeks high of $3 during trading but closed back at $2.65, yesterday’s 52 weeks high.

Junior market | Caribbean Creams traded 279,793 and closed firm at $1.05, Honey Bun traded 16,500 firm at $3.50, Lasco Financial Services chipped in with 21,447 units firm at $1.50 and Lasco Manufacturing 183,860 trading at $1.59 down a cent.

Consolidated Bakeries did not trade but it had a bid at $1.44 versus the last sale price of $1.41 and Lasco Distributors bid was at $1.50 versus last sale of $1.45.

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.

Wednesday, 21 August 2013 | Prices on both the main & junior markets took a dive today as declining stocks barely outnumbered advancers once more, with 7 advancing and 8 declining. In the process, the market took back more than it gained on Monday and Tuesday. The number of stocks trading amounted to 5.2 million valued at just $15.4 million as General Accident, Cable and Wireless and Jamaican Teas traded relatively large volumes.

The All Jamaican index fell by 814.28 to close at 85,179.80, the main market index was down by 462.79 points to 85,214.09 and the junior market down 12.12 point to close at 781.99.

Trading was moderate in the main market with Cable & Wireless trading 1.4 million units as it closed at 18 cents up 3 cents from the last price on Tuesday. Caribbean Cement scored another 52 weeks high as the stock hit $2.65 at the end of trading, a gain of 43 cents as 147,400 units traded. Carreras is holding around the $49 region as 23,931 units traded firm at $49.10, Grace Kennedy traded 40,255 units at $56.99, up 4 cents. National Commercial Bank traded 53 311 units at the closing price of $18.5, off a cent, Sagicor Life Jamaica had 93,000 units trading while losing 60 cents in closing at $8.40, Scotia Group 16,500 firm at $21.01. Scotia Investments traded 8,000 units and gained 14 cents to close at $26.15. However, the stock traded in Trinidad at the equivalent of $32.70, a huge differential. JMMB, which did not trade, is selling in Trinidad at $9 equivalent compared with $8 in Jamaica.

Junior market | General Accident with 1.87 million shares valued at $3.47 million was the big mover in the junior market as the stock traded firm at $1.85. The market was characterised by selling as 6 junior market stocks fell in price with none advancing. Blue Power Group traded 3,300 units at $9.20, slipping a cent from the last traded price on Tuesday. Caribbean Cream traded 99,207 units at $1.05, down 2 cents, Caribbean Producers traded firm at $2.03 with 162,100 shares, Jamaican Teas lost 40 cents on trading 977,993 units valued at $3.9 million, Lasco Distributors traded at $1.45 at the close down a cent with 92,000 shares, Lasco Financial Services closed at $1.50 off 2 cents while trading 28,272 units and Lasco Manufacturing closed at $1.60 with 57,000 units as the stock closed off a cent.

Eppley closed with a bid of $400 for 423 shares but has not traded since listing on July 29.

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 1 stocks having offers lower than their last selling price.

Tuesday, 20th August 2013 | The market closed off today as stocks of 28 companies traded with a volume of 3.69 million valued at $20.57 million. There were 8 stocks advancing and 10 declining as all the indices gained moderately except for the junior market. The cross listed had no trades.

The All Jamaica Index gained 533.18 points and closed at 85,994.08 and the JSE Market Index increased by 303.03 to close at 85,676.88 the Junior Market closed down by 15.33 closing at 794.11.

Main market | Cable & Wireless traded 401,991 units firm at 15 cents, Carreras had 50,460 units changing hands at $49.10 valued at $2.478 million, Caribbean Cement accounted for 75,913 as the stock traded as high as $2.50 before it closed at $2.22, up 12 cents, Desnoes & Geddes traded 386,000 units valued at $1.74 million and lost 2 cents to close at $4.50, Grace Kennedy traded 6,050 units lost 4 cents to close at $56.95, Jamaica Money Market Brokers saw 577,150 units changing hands valued at $4.9 million and closed at $8 down 10 cents for the day. National Commercial Bank 29,696 shares traded with a closing price of $18.51, down 5 cents. Pan Jamaican Investment Trust had just 7,539 units trading firm at $51.10. Sagicor Life Jamaica Limited 7,720 saw trading at $9, which is down 50 cents from Monday’s traded price but the offer at the end of trading was $8.45 for 26,000 units. Scotia Group had one of the largest trades in monetary terms as 299,551 units changed hands at a closing price of $21.01 to cost $6.37 million, the stock traded firm.

Junior market | Trading picked up in the junior market on Tuesday with the Lasco companies picking up in volume as profit taking in the shares appears to be ending while demand is returning for them. Consolidated Bakeries traded 354,230 units, the most since June 28 and closed at $41.41, up a cent. Blue Power traded up to $9.60 but closed at $9.21, up 3 cents in trading 36,100 units. The company posted improved quarterly results yesterday and investors seemed to have been responding positively to them. Cargo Handlers closed at $13, up 38 cents in trading 3,000 units, Dolphin Cove lost 80 cents in late trading to close at $8.20 with only 1,200 shares trading. Lasco Distributors closed at $1.46 in trading  574,199 units, Lasco Financial Services traded 376,901 firm at $1.52, Lasco Manufacturing closed at $1.59, down a cent in trading  379,616 units.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator shows that bids for 1 stock was higher with 2 stocks having offers lower than their last selling price. This is the weakest this signal has been since we started tracking and suggests a ‘sideways market’ at this time.

Related posts | Blue Power profit up 20%

Monday, 19th August 2013 | The market closed off today as stocks of 27 companies traded with a volume of 4.196 million units valued at $30.1 million. There were 11 stocks advancing and 8 declining as all the indices gained moderately except for a small fall in the US$ market. The cross listed index had no trades.

The all Jamaica Index gained 130.14 points and closed at 85,460.90 and the JSE market index increased by 73.96 to close at 85,373.85, the junior market gained 6.60 closing at 809.44.

Main Market trades of note | Cable & Wireless traded 530,000 units and slipped 2 cents to close at 15 cents. Other stocks with major changes on the day are Desnoes & Geddes with 52,837 units falling by 9 cents to close at $4.52, Grace Kennedy with 26,000 units valued at $1,481,300, gained 99 cents to $56.99, Jamaica Broilers Group, 66137 units to close at $5 up 2 cents, Jamaica Money Market Brokers having another heavy trade with 661,166 units valued at $5,324,306, closed at $8.10, Jamaica Producers Group 653,240 units at $18.25 up 73 cents with a value of $11,914,904, National Commercial Bank had only 9,000 at $18.55 up by 5 cents. Sagicor Life, 238,356 units valued at $2,118,414 to close at $9.50 up $1 and Scotia Group 16,428, closing at $21.10 up 2 cents. Carreras gained 60 cents as just 1,890 shares changed hands, the stock closed with a bid of $49.10 for 52,775 shares. Caribbean Cement Company traded at $2.10, a new 52 weeks high but with only 2,042 units trading and gaining 10 cents on the day.

Junior market | The junior market recovered from a lacklustre Friday when only 4 stocks traded, to a day in which 8 traded. Blue Power slipped by 42 cents to close at $9.18 with only 5,585 units trading. After the market closed, the company reported increased profit for the June quarter of $30 million compared to $25 million in the same period last year, an increase of 20%. Caribbean Producers traded 9,500 shares and dropped 7 cents, closing at $2.03. Consolidated Bakeries traded 69,160 shares and closed up 5 cents to $1.40. General Accident Insurance traded 35,000 shares firm at $1.85. Lasco Financial Services traded 146,909 shares, closed up 2 cents to $1.52. Lasco Manufacturing had trading in 401,924 shares and dropped 5 cents to $1.60.

Eppley shares have still not traded since listing and has one bid for 450 units at $350.

Proven Investment Preference shares traded 1,073,900 units valued at $5,466,151, while the ordinary shares which are quoted in US dollar traded 89,000 at a value of US$10,591. Yhe stock lost a fraction of a cent to close at US.1190 cents.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 5 stocks were higher with 1 stock having an offer lower than their last traded price.

Friday, 16th August 2013 | There was trading for 6,702,939 units priced at $53,276,771 as 5 stocks increased in price while 8 fell.  Jamaica Money Market Brokers was the volume leader with 4,278,813 shares valued at $34.658 million.

JSE All Jamaican Composite closed at 85,330.76 down 561.93 points, the JSE Market Index closed at 85,299.89 a decline of 319.37 points and the Junior Market increased 5.41 to 802.84.

Main Market | Cable & Wireless lost a cent in trading 676,677 units as the stock closed at 17 cents, responding to higher loss in the June results than was generated in the June quarter 2012. Carreras declined further to $48.50 losing 50 cents in trading 26,875 units, reflecting investors’ negative reaction to the June quarter results which had a 41 percent reduction in profits and a cut in the dividend payment. There is little demand in the market currently for the stock.

Grace Kennedy traded 12,200 units at $56 down $1, Jamaica Broilers Group traded 116,150 units at $4.98, Jamaica Money Market Brokers traded a large volume of 4,278,813 as the stock traded at $8.10 with a value of $34.658 million, Jamaica Producers Group traded 25,789 share at $17.52 and lost 73 cents. Kingston Wharves traded 80,000 units at $7.60, National Commercial Bank Jamaica chipped in with 84,588 shares at $18.50 a decline of 54 cents, Sagicor Life Jamaica Limited lent support with 106,833 units closing at $8.50, Scotia Group Jamaica traded a nice volume of 300,734 shares and closed at $21.08, down 42 cents on the day. Scotia Investments traded 10,953 and closed at $26.01, off a $1.99, Proven Investments 8% traded 75,000 units at $5.09.

Junior market | In the junior market just 4 securities traded on the final day of the week, same as yesterday. KLE Group contributed a mere 1,549 as the stock declined by 10 cent to $1.70, Lasco Distributors put in 141,400 units as the stock closed firm at $1.50, Lasco Financial Services contribution was 30,000 units, the stock closed firm at $1.50 and Lasco Manufacturing 103,300 units, closing firm at $1.65. Friday’s trading in the Lasco stocks suggest that profit taking is ending and the way could be paved soon for more gains in the prices of all three companies.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator shows that bids for 5 stocks was higher than the last selling price with 1 stock having an offer that was lower.

Thursday, 15th August 2013 | Trading accounted for 15,667,671 units with a value of $102.95 million as 5 stocks increased in price while 8 fell. Jamaica Money Market Brokers was the dominant trade with 9,526,181 units valued $77.16 million as the price closed at $8.10, up 10 cents. However, Caribbean Cement was the star having made major moves over the last two weeks and closed up a cent at $2, after trading as high as $2.20 on the day with 242,535 units. The stock price responded to return of the company to profit in the June quarter.

JSE All Jamaican Composite closed at 85,892.69 an increase of 146.20 points, the JSE Market Index closed at 85,619.26, up 55.10 points and the junior market increased 2.02 to 797.43.

Junior Market | Only 4 stocks traded on the junior market as Jamaican Teas traded moderate volume of 14,432 shares at $4.39, 1 cents less at the end of trading, Lasco Distributors 255,734 units as the stock closed down 9 cents at $1.46, Lasco Financial Services 112,100 shares as the stock closed up 5 cents at $1.50, Lasco Manufacturing just 2,300, closing firm at $1.58.

Main Market | Cable & Wireless lost 2 cents while trading 4.57 million units as the stock closed at 17 cents. The stock is responding to higher loss in the June results than was generated in the year ago quarter. Carreras declined further to $49 losing $1 in trading 24,752 units. The stock continues to reflect investors’ negative reaction to the June quarter results. Grace Kennedy traded 33,682 units at $57 as the stock traded firm, Jamaica Broilers Group traded 76,710 units at $4.96, down 4 cents, Jamaica Producers Group contributed 250,200 units valued at $4.57 million at $18.25 and gained 10 cents. Kingston Wharves traded 82,996 units at $7.70, down 20 cents, National Commercial Bank Jamaica chipped in with 184,224 shares at $19.04, up 54 cents, Pan Jamaican Investment Trust traded 100,277 units at $51.10 as the price slipped 40 cents, Sagicor Life Jamaica Limited lent support with 39,346 units closing at $8.50, Scotia Group traded 266,400 shares as the stock traded and closed at $21.50 up 43 cents, Seprod traded 57,000 units firm at $13.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator shows that bids for 5 stocks was higher than the last selling price, with 1 stock with an offer that was lower.

Wednesday, 14th August 2013 | Activity was very moderate on the local stock market as just $15.7 million of stocks traded, accounting for 4 million units. 8 stocks advanced in price and 6 declined. All the indices fell marginally with the exception of a rise in the US index. The all Jamaica Composite index shed 153.81 closing at 85,746.49, the main Market Index fell by 87.42 to close at 85,565.16 and the Junior Market Index dipped 2.60 to 795.41.

Cable & Wireless accounted for the bulk of the shares traded with 2.5 million units at 19 cents. Jamaica Producers released results for the June quarter and accounted for the bulk of the amount traded of $5.48 million as the stock gained $1.06 to close at $18.25. Other stocks to trade with reasonable volumes or price changes were, Carreras with 37,751 units to close at $50, off 3 cents but the stock traded as low as $49.25. Desnoes & Geddes traded 41,553 units at $4.61, off 9 cents. Grace Kennedy 25,300 units, firm at $57, National Commercial Bank with 29,962, dropping 70 cents to close at $18.50 but traded as high as $19.20. Scotia Bank 89,729 units at $21.07 and Scotia Investments 66,000 units to close at $28 having traded as low as $27.

Junior market | Activity has moderated since the hectic trading before the end of July with the stock split of the Lasco companies. Eight companies traded in this market as Caribbean Cream traded 154,958 units at $1.07, Lasco Distributors put in 350,600 shares at $1.55, gaining 4 cents, Lasco Financial Services had 46,000 units changing hands, with a closing price of $1.45 and Lasco Manufacturing had 63,108 units trading and closed at $1.58.

One stock C2W Music reached $1, a new low since listing. The company reported results today showing continued losses.

There still has been no trading in Eppley shares since listing, the stock now has a bid at $350 for 449 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 1 stock with an offer lower than their last selling price.

After the bell | Pan Jam released lower profits for both the June quarter and year to June. Profit for the June quarter was $486 million attributable to shareholders, compared to $468 million in the 2012 quarter, an increase of 4 percent. For the 6 months ended June this year, profit was $710 million compared to $970 million for 2012, a decrease of 27 percent.

JMMB first quarter results to June show a big jump in profits from ongoing operations of J$832 million and earnings per share of J$0.46 for the quarter ending June 2013, compared to $470 million in 2012.

Seprod enjoyed a bump in profit in the June quarter of $312 million versus $161 million in 2012 and year to June $542 million versus $453 million in 2012. Both periods in 2013 were boosted by a $107 million gain from sales of equities.

Monetgo Ice reported improved results for 2013 of $3.5 million versus a loss of $590,000. Gains from foreign exchange earnings that increased by $3.5 million played a big role in the improvement.

Cable & Wireless reported increased loss for the first quarter to June amounting to $826 million compared to $430 million in 2012. The worsening position is due to increased spend in certain areas and reduced revenues offset by some areas of cost savings.

Jamaica Producers reported after tax profit due to the company’s stockholders of $73 million in the June quarter against $46 million in the 2012 period and for the six months $158.5 million versus $112 in 2012.

Dolphin Cove reported profit for the six months to June of $221 million compared to $195 million in 2012 and for the three months to June $103 million versus $84 million.

Proven Investments net profit after tax grew to US$1,033,815 from US$845,876 in 2012 June quarter.

KLE Group is reporting a worsened loss position for both the June quarter and year to date with a loss of $36 million in six months while in the 2012 period the loss was $9 million.

C2W Music reported a loss of US$345,855 for the six months to June 2013. For the similar period in 2012, the loss was US$131,284. There was just US$1,803 income for the period.