Stock Market — Page 1137

JSE: Pan Jam dominates

October 7, 2013 by IC Insider.com

Monday, 7th October 2013 | Trading on the Jamaica Stock Exchange was dominated by Pan Jamaican Investment Trust with 2,337,726 shares valued at $114,570,615 to close at $49, down $1.01.

The market started the week on a losing note as 10 stocks fell with 5 advancing resulting the market indices falling except for the Junior market. The JSE main index closed at 84,271.59, a decline of 128.23; the all Jamaica Index fell to 83,969.26 off by 225.63 and the junior market was up by 10.35 to 779.58. Trading volume climbed to 7,493,963 units at a value of $162,072,928.

Apart from Pan Jam, Grace Kennedy had a good volume of 506,967 units costing $28,390,506 with the price ending at $56 down 50 cents and National Commercial Bank had 475,649 units valued at $8,808,290 to close at $19 for a loss of 33 cents. Grace traded at the equivalent of $63 in Trinidad on Monday, quite a difference from the $56 price trading in Kingston.

Barita Investments exchanged 501,500 units as the price closed at $2.40 down by 9 cents valued at $1,203,600; Cable & Wireless 34,200 traded firm at 18 cents; Carreras only had 1,400 trading down 10 cents to $45; Caribbean Cement 3,500 units to trade to close at $2.01 down 19 cents; Gleaner 33,720 $1.16, down a cent; Jamaica Broilers Group 5,492 units $4.60 up 8 cents; Jamaica Money Market Brokers traded 41,551 units at $8 valued at $327,369 as the stock lost 20 cents during trading; Mayberry Investments contributed 607,886 units that traded firm at $2.60 for a value of $1,580,504; Radio Jamaica traded 1,542,283 units to close at $1.31, down 9 cents, carrying a value of $2,021,864; Scotia Group exchanged 35,473 units to close firm at $21 valued at $744,943; Jamaica Money Market Brokers 8.75% traded 1,000,000 units at $3 for a value of $3,000,000; Proven Investments 8% preference shares traded 124,000 units firm at $5.09 valued at $631,160. Sagicor Investments gained 45 cents to land at $17 with 3,119 units changing hands.

Junior Market | Caribbean Cream traded 38,903 traded firm at $1; Caribbean Producers chipped in with 30,000 units to close firm at $2.09; Dolphin Cove gained 65 cents to close at $8.65 with only 1,115 units; KLE Group fell to another all-time low with 10,000 shares changing hands at $1.40 down 21 cents; Lasco Distributors only traded 10,515 units trading to close at $1.50 up by a cent; Lasco Financial Services traded 16,612 firm to close at $1.25 and Lasco Manufacturing traded 53,073 units firm at $1.55.

IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator showed a slight bias to lower prices for some stocks with bids for 6 stocks being higher and 7 stocks with offers lower than their last selling price.

TTSE: Trading levels drop again

October 7, 2013 by IC Insider.com

Monday, 7th October 2013 | The prices of three stocks hit new 52 weeks high on Monday on the Trinidad & Tobago Stock Exchange as there was trading in 13 securities of which 5 advanced, 1 declined and 7 traded firm.

There was trading in 192,629 shares valued at $2,939,673. First Citizens Bank contributed 20,753 shares with a value of $726,606, while Jamaica Money Market Brokers added 8,500 shares valued at $4,675; Prestige Holdings closed firm at $9.40 with 4,051 units; Sagicor Financial Corporation exchanged 50,000 shares for a value of $362,380; Scotia Bank traded 5,483 units to close at a 52 weeks high of $70.25, an increase of 20 cents; Trinidad Cement with 41,039 shares being traded for $88,234.

Grace Kennedy traded 1,000 shares to close at $3.80, an increase of 29 cents as the closing price ended at the equivalents of JS$63 while it traded at J$56 on Monday on the Jamaica Stock Exchange. Conversely, Scotia Investments declined by 4 cents to end the day at $1.95 as a mere 209 shares changed hands.

Clico Investment Fund had 60,080 shares changing hands valued at $1,290,203 as the price advanced by 16 cents to end at $21.47.

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

Filed Under: Stock Market, TTSE Market Tagged With: Daily Trading, Trading Activity, TTSE

Buy Rated: Some gains, some losses

October 6, 2013 by IC Insider.com

Since we last looked at the performance of our IC Insider Buy Rated Stocks two weeks ago on 23rd September 2013, there have been some gain and losses. It’s been a full three months since we boldly started to ‘name names’ and now is the right time to do a full recap to see how we’re doing — or not!

Of the eleven Buy Rated stocks on the Trinidad & Tobago Exchange, only two are down, namely Guardian Holdings, off 5 percent and Neal & Massy 4 percent. Trinidad Cement is up 115% and still has room to grow based on its PE Ratio. First Citizens scored a whopping 52% for the short one month timeframe it made the list. Grace Kennedy is up 9 percent, JMMB 10 percent, Sagicor Financial 7 percent and Scotia Investment 6 percent.

So far, Buy Rated selections listed on the Jamaican market are not as successful with no gains to speak about. Meanwhile, Lasco Financial is down 19 percent and Jamaica Broilers is off by 14 percent.

It’s still early days yet. The Buy Rated selections are meant to identify stocks that will do well over the next twelve months. Short term pull backs are not negatives and are in fact buying opportunities for the serious investor.

The IC Insider’s Buy Rated seal of approval is given to a stock that we believe is a compelling buy with earnings that are strong relative to the price and strong prospects of generating high price gains within the next twelve months.

Our research is backed by published reports of the company’s performance and insights of future earnings that can be found at ICInsider.com. The final decision to buy, or not, is your personal choice.

To find published reports for a Buy Rated stock on IC Insider, please choose the category ‘Buy Rated’ under Company News or enter the company name, in full or part at ‘Search IC Insider’.

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

Big gains in Ghana Stocks

October 6, 2013 by IC Insider.com

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The Ghana Stock Market is up 68 percent for the year to the end of September, even as interest rates were raised from 11 percent to 21 percent on T-bills in response to depreciation of the local currency. The increase in T-bill rates took effect last year and for most of 2013.

Ghana’s economy grew by 7.9 percent last year and is projected to grow 7 percent in 2013, this according to the statement made by the International Monetary Fund on Wednesday. Notwithstanding the forecast for strong growth, the funding agency said, “It will be difficult for Ghana to keep its budget deficit below 10 percent this year.” However, the government says its deficit will fall to 9 percent this year from 12.1 percent in 2012.

One key risk for the economy of Ghana, an exporter of cocoa, gold and oil, is its current account deficit, which will rise to 13 percent of gross domestic product this year, the IMF said.

Headline inflation stayed within the target range of 8.5 per cent ± 2 per cent in 2012 but has climbed to 11.5 percent in August this year. Monetary policy faced a major challenge of dealing with a rapidly depreciating currency in the first half of 2012. Monetary policy was tightened thus moving rates from 11 percent to 21 percent on Treasury Bills. The exchange rate slipped from 1.64 cedi to the US dollar to 2 cedi to the US dollar.

It against this background that several stocks listed on the Ghana Stock Exchange recorded sharp gains with 7 gaining more than 100 percent with the star performer being PZ Cussons, a company that manufactures and distributes soaps and electricals, rising 400 percent and Enterprise Group, a business development and management consultancy company, rising by 298 percent.

See chart for the listed stocks and their gains.

Filed Under: Global Market, Stock Market Tagged With: Economy, Ghana

U tweet, but will u buy twtr?

October 5, 2013 by IC Insider.com

People are at the heart of Twitter, the company’s SEC filing says. The company has achieved significant reach globally and continues to grow with more than 215 million monthly active users and more than 100 million daily active users tweeting 500 million times daily, spanning nearly every country worldwide. Anyway you cut it, Twitter is now a household name and a critical tool for millions of people all over the world. Presidents, heads of state and celebrities are users of this communication tool.

Growth in acceptance of Twitter has translated into strong and rapid revenue growth from 2011 to 2012 increasing by 198 percent to $316.9 million, while net loss declined by 38 percent to $79.4 million and adjusted EBITDA increased by 149 percent to $21 million. For the six months ended June this year, revenue increased by 107 percent to $253.6 million over the same period in 2012, net loss increased by 41 percent to $69.3 million and adjusted EBITDA increased by $20.7 million to $21.4 million.

Since inception, Twitter accumulated deficits of $418.6 million. Although revenue has grown rapidly, increasing from $28.3 million in 2010 to $316.9 million in 2012, Twitter says that they expect that the revenue growth rate will slow in the future as a result of a variety of factors, including the gradual slowdown in the growth rate of user base. Future revenue growth will depend on, among other factors, ability to attract new users, increased user engagement and ad engagement, increased brand awareness, to compete effectively, maximize sales efforts, demonstrate a positive return on investment for advertisers, and successfully develop new products and services to expand internationally.

According to the company, “The net proceeds from the sale of our shares of our common stock by us in this offering may be used for general corporate purposes, including working capital, operating expenses and capital expenditures.” Twitter anticipates making capital expenditures in 2013 of approximately $225 million to $275 million and they may use a portion of the net proceeds to fund anticipated capital expenditures and to acquire other businesses, products, services or technologies and other working capital needs.

Sources suggest that the IPO is set to raise at least $1 billion for the company which should take place within a few weeks when the issue price would be set.

Filed Under: Company News, Initial Public Offers, Stock Market, Stocks to watch Tagged With: Twitter

FX: Jamaican dollar climbs above $104

October 4, 2013 by IC Insider.com

Friday, 4th October 2013 | The Jamaican dollar climbed above $104 to the US dollar for the first time as dealers sold US$62 million at $104.05, an increase of 7 cents over the price on Thursday.

Dealers bought only US$24.2 in contrast but at 28 cents higher than Thursday at $103.37. It cost 24 cents for dealers to buy the Canadian dollar as they bought C$903,944 at $98.734 and sold $2.6 million at $102.31, 24 cents over Thursday rate. For the Pound, dealers bought £1.16 million at $1.14 lower at $165.25 and sold £738,119 at $168.75, 12 cents lower than on Thursday. Overall there was buying of the equivalent of US$27 million and selling of US$65.95 million.

Highs & Lows | The US Dollar was bought as high as $104.90, a reduction of 15 cents and the sold US dollar at a low of $101.30 or 80 cents more for the day. The lowest buying rate remained static at $84.75 as did the highest selling rate at $108.61.

The Canadian was 20 cents higher for the highest buying rate which ended at $101.70. The British Pound increased by 20 cents for the highest buying rate that ended at $170, while the lowest buy rate fell 37 cents to $134.92. The highest selling rate for the Pound fell $3.12 to $171.50 but the lowest selling rate climbed 60 cents to $162.55.

Filed Under: FX Market, Stock Market Tagged With: Daily Trading, FX Market, Trading Activity

JSE: Declining stocks hits advancing

October 4, 2013 by IC Insider.com

Friday, 4th October 2013 | The Jamaica stock market closed down on the last day of the week as 11 stocks fell with 6 advancing resulting the market indices falling sharply. The JSE main index closed at 84,399.82, a decline of 640.92; the all Jamaica Index fell to 84,194.89 off by 1,127.68 and the junior market was down by 3.40 to 769.73. Trading volume climbed to 12,147,981 units but most were low priced Cable & Wireless and Gleaner Company stocks resulting in only $13,968,037 of trading.

Cable & Wireless landed 4,020,000 units as the price closed down a cent at 18 cents; Carreras exchanged 23,390 units to close down 90 cents at $45.10; Caribbean Cement chipped in with 167,905 units as it gained cents to close at $2.20; Gleaner Company 6,900,078 units to close at $1.17; Jamaica Stock Exchange traded 20,000 units to close at the IPO price of $2.85; Mayberry Investments 10,738 $2.60; Sagicor Investments traded 15,000 units to close firm at $16.55; Sagicor Life 20,843 units at $9; Scotia Group 70,032 at $21; Jamaica Money Market Brokers 7.50% 100,000 units at $2; Jamaica Money Market Brokers 8.75% 70,000 $3 and Proven Investments 8% 39,650 $5.09.

Junior market | Dolphin Cove traded 27,141 units to close down 20 cents at $8; General Accident 35,000 units to close at $1.90, down 9 cents; Lasco Distributors gained a cent as 36,866 units changed hands to close at $1.49 and Lasco Financial Services traded firm as 436,543 units traded to close at $1.25.

Filed Under: JSE Main Market, Stock Market Tagged With: Daily Trading, JSE Company, Trading Activity

TTSE PE: Changes in ranking

October 4, 2013 by IC Insider.com

Friday, 4th October 2013 | The PE Ratio chart continues to show good potential for a number of stocks to provide decent gains in the months ahead on the Trinidad & Tobago Exchange.

There are some stocks that appear to be fully priced with a limited likelihood of growth and there are those that are riskier than stocks with very low PEs relative to their peers.

Trinidad Cement still sits atop the heap with potential for 500 percent gains followed by Guardian Holdings, Berger Paints that has not been trading and National Flour that climbed to 87 cents at the end of the week.

National Enterprises is now up to $17.02 which reduces the potential gains to 35 percent and Angostura Holdings gains is now down to 26 percent.

Filed Under: Company News, Stock Market, TTSE Market Tagged With: PE Ratios, TTSE

TTSE: Returns to low trading

October 4, 2013 by IC Insider.com

Friday, 4th October 2013 | Activity on the Trinidad Stocks Exchange on Friday was moderate with trading in just 7 securities of which 3 advanced, 3 declined and 1 traded firm. The low level of trading is reflected in only 223,296 units changing hands valued $2,933,256 but with two stocks reaching new 52 weeks high.

Jamaica Money Market Brokers traded 134,333 shares for a value of $73,883 as the price remained firm at 55 cents. First Citizens Bank traded only 45,585 shares valued at $1,595,712 as it closed a cent up to $35.01. National Enterprises contributed 5,500 shares with a value of $93,605 while the price moved up to $17.02, up by 20 cents for a new 52 weeks high. Republic Bank added 3,927 shares valued at $432,088 and lost a cent in the process to close at $110.03. Trinidad Cement fell 5 cents to close at $2.15 trading 724 shares and Unilever closed up a cent at $55.53 with 827 units trading, a new 52 weeks high.

Clico Investment Fund declined by $0.20 to end at $21.31 with 32,400 shares valued at $690,488.

IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator showed the market consolidating with bids for 2 stocks being higher and 3 stocks with offers lower than their last selling price.

Filed Under: Stock Market, TTSE Market Tagged With: Daily Trading, Trading Activity, TTSE

FX: Slippage continues

October 3, 2013 by IC Insider.com

Thursday, 3rd October 2013 | Trading in the Forex market picked up on today with the equivalent of US$3.7 million being purchased and US$41 million being sold with the rate for the Jamaican dollar slipping further at the end of trading.

Trading in US dollars resulted in US$23.8 million of that currency being purchased at $103.09, a 3 cent increase over Wednesday’s rate and selling amounted to US$36 million at $103.98 an increase of 20 cents over the prior rate.

The buying rate for the Canadian dollar moved up by 24 cents to $98.49 as C$1 million was purchased and CS$511,633 was sold at $100.67 or 30 cents up for the day.

The British Pound cost $1.22 more to purchase at $166.38 as dealers bought £2.967 million and sold the Pound at 69 cents cheaper at $168.86 as £2.09 million was sold.

There were mixed results for the highest and lowest buying and selling rates. The highest buying rate for the US dollar fell 75 cents to $105.05 and the lowest selling rate was down 80 cents to $100.50 but the rates for the lowest buying and the highest selling remained unchanged at $84.75 and $108.61 respectively.

The Canadian dollar’s highest buy rate moved up 40 cents to $101.50 with all others remaining unchanged at $80.51, $103.79 and $97 respectively. The highest buy rate for the Pound was 30 cents more at $169.80 with no change to the lowest at $135.29, while the highest selling rate was up 21 cents to $174.62 and the lowest declined 55 cents to $161.95.