Friday, 26th 2013 | The market cooled off today as only the stocks of 21 companies traded, resulting in a volume of 5,305,431 valued at $35.1 million. There were 8 stocks advancing and 6 declining. The prices of two stocks reached all-time highs and two others made a 52 weeks high by the end of the day.

Main Market trades of note| The all Jamaica Index shed 650.92 points to close at 87,772.15 and the JSE market index fell by 369.94 to close at 86,687.02.

Carreras traded 152,000 shares as the price closed at $52, off 25 cents from the last traded price on Thursday. Jamaica Money Market Brokers (JMMB) traded 1 million shares and lost 49 cents to close at $8 after trading as high as $8.50. National Commercial Bank after posting 92 cents earnings for the June quarter and $2.76 for the fiscal year to date, traded only 31,600 units to close at $19.56 after trading up to $20. Currently, the supply of this stock is limited. Pan Jamaican Investment Trust traded 19,600 units at $52, up 49 cents for the day. Scotia Group (SGJ) with a volume of 135,000 shares, traded between $21.11 and $21.50, the stock closed at $21.20 with no change in the last selling price. Supreme Ventures climbed 9 cents to $3.10, a 52 weeks high, with 176,000 shares trading.

The Jamaica Stock Exchange ordinary shares, the subject of an initial Public offering (IPO) in early July, was listed on Tuesday, is yet to find a compromise price for a willing buyer or seller. The stock closed the week with a bid of $3 for 97,000 shares and an offer at $3.45 by the same broker, Stocks & Securities the sponsoring broker for the IPO, which was priced at $2.85.

Junior market | 8 stocks in the junior market traded with the index moving up by 7.52 points to 823.77. The coming week could be telling for this market with the three Lasco companies releasing results on Monday. Access Financial Services gained 40 cents as 2,100 units changed hands to close at an all-time high of $9. AMG Packaging lost 25 cents while trading 3,900 units to close at $4. Dolphin Cove traded 20,500 units to close at a 52 weeks high of $9.10, gaining 40 cents for the day.  Lasco Financial moved up to an all-time high of $1.60, gaining 15 cents for the day while trading 380,206 shares. At the close, there was 1 million shares on offer at $1.60. Lasco Manufacturing traded 788,400 shares lost 10 cents to close at $1.60.

Proven Investment Preference shares traded 2.2 million units valued at $11.38 million, while there was no trading in the ordinary shares which are quoted in US dollars.

Market intelligence | Earnings season has begun for the second quarter results and are likely to impact trading over the next few weeks and could well impact stocks for the rest of the year.

Results dates | On Thursday, National Commercial Bank (NCB) released results that could encourage buying of the stock. On Friday Mayberry released their’s, after trading closed. Monday is the day all three Lasco companies are expected to release figures for the first quarter. These are important as they will send a message about likely 2014 earnings since there have been no new profit figures to positively guide investors for the new fiscal year about valuation of the stocks. Sagicor Investments and Grace Kennedy are also expected to release their results by the end of the coming week.

Cable & Wireless remains under pressure with offers in excess of 28.7 million shares at 15 cents overwhelming what little demand there is for the stock. The demand has not changed much for the last three weeks as the supply is barely being eaten away. Desnoes & Geddes is stuck for the time between $4.65, where there are a few good bids, and $5.18 where a 1 million shares are on offer. Offers below $5.50 seems to have dried up for Jamaica Broilers; bidders who exposed their hands are not yet very aggressive, with bids mostly below $4.50. There are however, a few offers between $7.67 and $5.40, the next is at $13.50 for 800,000 units.

JMMB supply and demand seem fluid presently with some selling at $9 and under. At the end of trade on Friday, there were only 428,000 units of NCB on offer between $20.99 and $35 against 1.3 million units of bids from a low of $10 to $19.55. A bid for 4,549,573 Radio Jamaica shares at $1.23 remains in the system with very moderate supply. Supply of Sagicor Life is just over 300,000 units up to $15, demand is over 2 million above $7, SGJ has 876,000 shares on offer between $21.20 to $21.25 and $33, and demand for 1.17 million units from $14 to $21.12. Scotia Investment has limited demand and a few more offers close to the trading price but there are 6 million units on offer at $30. Supreme Ventures has only two offers amounting 22,400 units and good demand from $2.75 to $3. Carreras still has selling but there are still investors prepared to buy above $50 but those could be taken out in the coming week depending on exactly how much selling there still is.

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, thus keeping the bullish bias in place.

Thursday, 25th July 2013 | It was another big day on the Jamaica Stock Exchange on Thursday as stocks of 29 companies traded of which 10 stocks advanced and 10 declined as focus continued in main market shares and the juniors played second fiddle on a day when 14 million shares traded valued at $419 million.

The junior market index along with the US dollar index declined marginally and the main market and all Jamaica indices put on a few hundred points.

Trades of note Main Market | The all Jamaica Index gained 318.84 points to close at 88,373.07 and the JSE market index moved up by 181.21 to close at 87,056.96.

The major volume of shares traded include Carreras 6,429,852 for a value of $335,630,891which closed at $52.25, Desnoes & Geddes 1,555,217 valued at $7,362,606 with a closing price of $4.70, Gleaner Company 375,398 costing $1.18 with a value of $442,970, Grace Kennedy 150,694 valued at $8,453,933, Jamaica Broilers Group 1,701,351 amounting to $8,572,488, Jamaica Money Market 711,882 at a value of $6,041,743, National Commercial Bank 368,314 at $19.51 valued at $7,221,190, Scotia Group 1,575,654 valued for $34,255,608 closing at $21.20, off 30 cents, Scotia Investments 247,115 closing price $26.5 and valued $6,538,197, Jamaica Producers with 105,483 at $19.35 costing $2,035,822.

Hardware & Lumber traded 75,000 and the stock closed at a 52 weeks high of $4.60 an increase of 60 cents in response to the good six months results. Pan Jam lost 49 cents to close at $51.51 on small volume, Pulse Investments closed at 94 cents, a 52 weeks low as it dropped 66 cents.

Junior market | Stocks of 8 junior market companies traded on Thursday with moderate volumes and price changes. Lasco Distributors traded 127,650 shares valued at $192,752 and closed at $1.51 down 9 cents, Lasco Financial traded 149,500 shares valued at $214,648 and dropped 5 cents to close at $1.45.

Lasco Manufacturing traded 118,900 shares valued at $202,130 and closed up a cent at $1.70, Caribbean Producers traded 45,000 units at $2.05, and Access Financial Services traded 11,000 units at $8.50. KLE Group traded down again to a low of $2.29 down 31 cents for the day. The stock is now down 36% percent from the IPO price of $3.60.

Proven Investment Preference shares traded a small volume of 4,200 shares and the price held firm.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 9 stocks were higher with none having offer that was lower than their last selling price

Wednesday, 24th July 2013 | Scotia Investments did some big trades on Wednesday in Carreras Limited as the brokerage house executed three large trades in the stock on behalf of clients. The first lot of 3,907,474 at $52.25 valued at $204,165,517, the second lot of 3,792,847 also at $52.25 valued at $198,176,256 and 2,347,297 units at $52.25 with a value of $122,646,268.

The stock lost 26 cents in trading. The Carreras’ trades were by far the largest on a day when 18.85 million units traded with a value of $613.65 million on the market. In spite of the negative news about the smoking ban and its impact on the company’s profits, there are still bids buy the stock at close to today’s selling price and about 350,000 units have bids from $51 and above. The total trading in Carreras shares amounted to 10.159 million units at a value of $520.8 million.

Advancing stocks climbed to 14 versus 6 that declined, 11 had no price change at the end of the day. In spite of the positive advance decline ratio the indices all declined except the US dollar index which rose marginally.

Main Market | The all Jamaica Index fell 101 points to close at 88,054 and the main market index fell 57.40 points to close at 86,875.75.

Scotia Investments was also the dominant broker in the trading of National Commercial Bank stock as $23.7 million was expended on the trading of 1.2 million shares as the stock closed at $19.50. They were also the major traders in Scotia Group which had trading in 890,000 shares valued at $19 million as the stock closed at $21.50 and gained 30 cents for the day. Jamaica Broilers had a big day, posting a volume of 3.57 million units at a value of $17.8 million as Scotia Investments played a big role in trading the stock. Jamaica Producers traded 158,600 units and closed at $19.20 up 19 cents. Pan Jam gained 50 cents on small volume to close at $52. Sagicor Investments gained $1.97 and closed at $18.50 as 5,000 shares traded, Scotia Investments gained 49 cents in continuation of the see sawing between $26 were there is demand ad $26.50, as 33,947 shares changed hands. Hardware and Lumber stock responded to the improved results released yesterday. In today’s trading the stock closed at $4 with 5,000 units trading but bids have now come in where there were none before for days.

Jamaica Stock Exchange ordinary shares have still not traded after two days of listing but there is a bid of $3 posted for just over 97,000 units which is above the issue price of $2.85.

Proven Investment ordinary shares which are quoted in US dollars traded  1.2 million units valued at US$140,640, the stock lost a fraction of a cent to close at 11.72 US cents.

Junior market | 11 stocks in the junior market traded with Lasco financial reaching a new all-time high at $1.50, the closing price as 203,000 units traded. At the end of December last year, the stock was trading at $4.90 or 49 cents based on the stock split hence the price has gained more than 200 percent in the process.  Lasco Distributors traded 205,600 units to close at $1.42 but traded as high as $1.53 on the day, Lasco Manufacturing chipped in with 243,899 units to close at $1.69 down from $1.80 on Tuesday. Mayberry bought out the 100,000 Blue Power stocks that were on offer at $10.50 for in house purposes, the stock is up 47 cents on the day, leaving only two small offers at $11 and $13.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 6 stocks were higher with 2 stocks having offers lower than their last selling price.