FX: Unusually low purchases

Monday, 2nd September 2013 | Trading for the first day of the week and month of September was unusually low for a Monday, but the heavy trading on Friday when US$53.8 million was purchased and US$39.65 million was sold may have robbed the market of much activity as just US$23.27 million was purchased with US$28.4 million sold.

Authorised dealers purchased US$19,593,289 at a buying rate of $101.1463 down 50c from Friday’s closing rate and sold US$26,278,288 at an average of $102.109 up 3c at the end of the day. The buying rate for the Canadian dollar fell $1.24 to close at $94.8671 as C$1,009,449 was purchased and sold C$515,019 at an average of $96.8504 down 97c. £1,562,581 was purchased at an average of $155.9639 representing a decline of $1.61 for the day and sale of £776,054 took place at an average of $158.981 up 44c.

FX_TRADE+Currency+Sep2There was much variation in the highest and lowest buying and selling rates amongst the three main currencies. The highest buy rate for the US dollar fell by 5c to end at $102.80, while the lowest was up 13c at $84.17 and selling was as high as $108.77 up 91c, while the lowest fell 13c to $84.04.

In the case of the Canadian dollar, the buy rate at its highest dropped $1.10 to $97.40 and the lowest fell 33c to $78.27 while selling took place as high as $101.65 with no change at the end and the lowest slipped 15cto $94.30.

FX_TRADE+HighLow+Sep2The British Pound traded as high as $159.30 buying with the rate increasing by 30c, the lowest increased by $28.44 to end at $128.44 while the highest selling rate moved up by $4.58 to $165.58, and the lowest increased by 75c to close at $152.90.

Image courtesy of Marcus/FreeDigitalPhotos.net

JSE: Manipulation seems at play

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.

JSEIndicesSept2Junior 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.

TTSE: Trinidad Cement down 44 cents

Monday, 2nd September 2013 | The Trinidad stock market saw trading in 432,177 shares valued at $2,809,739 in Monday’s trading as 12 securities traded of which 1 advanced, 3 declined and 8 traded firm.

Trinidad Cement, last week’s big winner, led the market with 244,137 shares changing hands for a value of $638,206 as the stock shed 44 cents to close with the last traded price at $2.50. The stock closed the day with an offer of 525,277 shares at $2.50 and no stock on the bid to buy as profit taking sets in due to the stock climbing so far in such a short time frame.

Angostura Holdings with a volume of 64,212 shares accounted for $610,139 in value. National Enterprises contributed 40,000 units with a value of $640,000. National Flour Mills added 37,408 shares valued at $28,056. Sagicor Financial Corporation added 15,000 shares firm to end at $6.85, Republic Bank traded 1,800 units firm at $110.01 and Scotia Bank chipped in with 1,050 at $70.01 up a cent.

TTSESept2Clico Investment Fund posted a volume of 23,420 shares valued at $503,654 as the price remained firm at $21.50 the last selling price.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator shows that bid for 1 stock was higher with 3 stocks having offers lower than their last selling price.

Image courtesy of Photokanok/FreeDigitalPhotos.net

New additions to Buy Rated list

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Welcome four new members to our elite Buy Rated list! All trade on the Jamaica Stock Exchange with Sagicor Life, Scotia Group and Scotia Investments on the main listing and Caribbean Producers (CPJ) on the Junior Market.

Sagicor150x150Sagicor Life‘s earnings per share in the June quarter amounted to 42 cents annualised out at $1.70 per share but after adjusting for a $120 million loss in a law suit, it is closer to $1.80 per share. All things being equal, 2014 earnings should exceed $2 per share and with the price at $8.20, there is much room for growth.

scotiabanklogo150x150Scotia Group gets the Buy Rated seal of approval based on the earnings of 94 cents in the latest quarter and strong gains in net income for the nine months to July as well as the July quarter. Looking forward, the full year’s results should end at $3.70 per share with next year’s results looking to exceed $4 per share — more than enough to stimulate a rally in the price.

Scotia Investments clocked in with earnings of $1.33 for the quarter with reduced costs in a number of areas. Our analysis of their numbers suggest full year results should exceed $4.60 per share and next year more than $5.

CaribbeanProducers(CPJ)280X150Caribbean Producers (CPJ) reported outstanding June quarter numbers, which suggest that the post-IPO expansion is starting to bear fruits in a major way. Strong growth is a indicator of robust profits ahead and we feel that this one is ripe for a take-off in the coming months.

TCement_280x150Trinidad Cement continues to be the star of the Buy Rated list. Some may be questioning how much further it can go having gained more 200 percent since the end of May. Our PE ratio chart says it has more room to run before it is fully valued based on this year’s company profit performance. Neal and Massy has come down in price as has Guardian Holdings and declines has made them more attractive buys.

Better than a broker’s ‘buy’ recommendationIC Insider has no vested interest in any stock transaction or conflict of interest. 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.

Related posts | Q2 profit up strongly at Sagicor | Scotia Group moves up in spite of NDX | Q3 profits up at Scotia Investments | CPJ’s big jump in profits | TTSE: 3 major changes in PE rankings

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

Image Courtesy of Collin Reid, Supreme Ventures/Courts/Scotiabank.

FX: Trading ends month positively

Friday, 30 August 2013 | Trading in the forex market closed out August on a positive note as the last trading day of the week and month looked more like a Monday than a Friday. Authorised dealers bought the equivalent of US$53,792,009 and sold the equivalent of only US$39,649,381 for a significant difference of US$14 million.

September is usually a month of low inflows, so it will be interesting to see how things pan out. The central bank over the last four months have tried to flush out funds from the financial sectors with some amount of success but at a higher exchange and interest rates. The next few months should see capital inflows coming into the country as the Chinese are set to commence the road construction on the north south leg of the highway and this is likely to bring in inflows which could augment supplies. It’s a development worth watching.

Purchasing the US dollar amounted to US$46,082,798 at an average of $101.65, an increase of 18 cents over Thursday’s rate and US$34,753,701 was sold at US$102.08 for an increase of 35 cents for the day.

FX_TRADE+Currency+Aug30The Canadian dollar was bought for 97 cents more at $96.11 as C$1,581,241 was purchased and C$1,804,339 was sold at $97.82 an increase of 35 cents over the rate on Thursday. The British Pound purchases amounted to £3,890,382 at $157.57, increasing by $1.89 as only £1,881,887 was sold at 37 cents more than Thursday’s rate and ended at $158.54.

The highest rates for buying the currencies on Friday are US dollar 10 cents higher at $102.85, Canadian 80 cents more at $98.50 and 15 cents down for the British Pound at $159. The lowest rates for buying were US dollar, no change at $84.04; Canadian 12 cents more at $78.60 and a big drop of $28.65 for the British Pound at $100.

FX_TRADE+HighLow+Aug30The highest rates for selling the currencies are US dollar 16 cents higher at $107.86; Canadian 48 cents more at $101.65 and $4.85 down for the British Pound at $161. The lowest selling rates were US dollar, $15.63 down at $84.17; Canadian 25 cents less at $94.45 and a big drop of $2.85 for the British Pound at $152.15.

TTSE: 3 major changes in PE rankings

There have been three major changes in the Trinidad stock market‘s PE Ratio chart due to price movements this week.

Trinidad Cement (TCL) gained 42 percent in the week and more than 200 percent since May. Questions may be asked as to how much further it can go but the PE ratio chart still has the TCL stock as the one with the greatest potential for growth in the market. It has more room to run before it is fully valued based on this year’s company profit performance so it’s still worth either buying or holding on to.

TTSE_PE+Aug30Neal and Massy has come down relatively sharply in price, as has Guardian Holdings. The declines have made them more attractive buys even though Guardian seem like it has further to fall before it bottoms.

Related posts | TTSE: TCL is hot | TTSE: Neal & Massy drops $2.93 | Guardian ongoing profits up 29%

Image courtesy of Jeroen Van Oostrom/FreeDigitalPhotos.net

JSE: Declining stocks clobber advancers

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.

JSEIndicesAug30Junior 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.

TTSE: TCL is hot

Friday, 30th August 2013 | This week’s trading on the T&T stock exchange was almost all about Trinidad Cement as the stock shot up to a new 52 weeks high on Friday at $2.94 at the close, gaining 38 cents on the day as 472,131 units traded valued at $1,387,609. The stock gained 89 cents or 42 percent during the week. The price advance may cool for a few days as the stock closed with the offer 46,481 units at the last selling price and the bid was for only 528 units at $2.75. The rapid movement may keep buyers from chasing the price for awhile until demand come closer to supply. Next week will tell. The fundamentals nevertheless support further gains.

Jamaica Money Market Brokers traded 700,000 shares firm at 50 cents for a value of $350,000; National Flour Mills contributed 148,444 shares with a value of $111,333; while Sagicor Financial Corporation added 23,200 shares valued at $158,920 as the stock price gained 30 cents to end at $6.85. Point Lisa traded 6,946 units gained 9 cents to close at $3.75; Grace Kennedy traded 4,000 units firm at $3.30; Clico Investment Fund had 7,500 shares changing hands valued at $161,283 and closed firm at $21.50. At the close the bid for Clico was at $21.60.

TTSEAug30Today’s volume was 1,362,951 shares valued at $2,225,638 as 9 securities traded of which 3 advanced, none declined and 6 traded firm.

IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator shows that bids for 4 stocks were higher with 3 stocks having offers lower than their last selling price.

Image courtesy of Photokanok/FreeDigitalPhotos.net

TCL up 209% in two months

Update to our post of Aug 27th, 2013 | In early July we told our readers “Cement was good for your pocket“. While we don’t know many took our advice seriously, we do know is that there has been quite a bit of buying of this Trinidad based company’s shares driving the price from 94 cents up to $2.94 at the close of trading on Friday. Not bad for a two months investment!

The good news is that our estimates suggest that it not over with prospects for more gains to come as the stock rallies to better align its value with the overall market.

Related posts | TTSE: 3 major changes in PE rankings | Cement could be good for your pocket

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Original post dated 27th August 2013 | We called it! TCL stock gains 115%

You read right! Trinidad Cement Limited stock price has gained 115% since IC Insider made to call out to buy at the beginning of July when the price was at 95 cents. It has since risen to $2.05 in almost 2 months. Not a bad pay day at all!

It’s not too late for you to make money on this fast moving stock! From all indications the stock still has lots of room to grow with the price on Monday, August 26 at $2.06 and the bid at $2.13 on the Trinidad Stock Exchange.

The main objective of IC Insider is to provide readers with opportunities not only make money, but to earn above average returns and avoid losses. To view our latest Buy Rated stocks, click here.

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FX: Rates mostly stable

Thursday, 29 August 2013 | Foreign exchange rates remained fairly stable on Thursday but there were noticeable swings in the Pound Sterling spot rates which fell.

The US dollar was purchased as high as $102.75 on Thursday the same as it was on Wednesday even as the average buying rate increased by 9 cents to $101.47 as US$27.35 million was purchased by dealers. Unlike Wednesday when there was an increase of 15 cents paid for the lowest rate of $84.04, the rate for selling at the high and low remained unchanged closing at $107.70 for the highest and $99.80 for the lowest. Selling took place for US$24.36 million at $102.10 at 10 cents more.

The buying rate for the Canadian dollar by 96c to $95.14 as C$641,000 was purchased and the average selling rate was down 18 cents to $97.47 for C$464,252. The Pound sterling buying rate dropped by $2.67 to $155.68 as £873,540 was purchased and £537,543 was sold at an average rate of $158.91, a fall of $1.17.

FX_TRADE+Currency+Aug29Overall the equivalents of US$29.4 million was purchased on Thursday an increase over Wednesday trade and selling amounted to $26.2 million a slight reduction form the day before.

FX_TRADE+HighLow+Aug29The highest buying rate for the Canadian dollar was down by $1.10 to $97.70 and the lowest was 4 cents greater to end at $78.48; the highest selling rate was $1.37 higher at $101.17 and the lowest was off 15 cents to $94.70. The Pound Sterling highest buying rate dropped by $1.85 to $159.15 and the lowest buying rate amounted to $128.65 the same as the prior day. Dealers sold the Pound as high as $165.85, a sharp $4.85 increase yet only increased the lowest rate by a $1 to $155.\