Trading in the Junior Market of the Jamaica Stock Exchange closed on Monday with a number of stocks declining just edging out those rising and led to a small fall in the market index. At the close the volume of stocks and value of stocks traded increased compared to that on Friday.
Trading ended with 4,581,201 units valued at $21,905,678 changing hands, with the market index falling 7.65 points to close at 3,155.46. On Friday, trading closed with 3,193,325 shares changing hands valued at $14,765,053.
A total of 22 securities traded, versus 20 on Friday with 7 stocks gaining and 8 declining and trading closed with 10 stocks having bids higher than the last traded prices and 2 closing with lower offers.
The Junior Market ended trading with an average of 208,236 units for an average value of $995,713 in contrast to 159,666 units for an average value of $738,253 on Friday. The average volume and value for the month to date amounts to 536,395 units valued at $1,905,441 compared to 552,021 units valued at $1,948,762 previously. In contrast, June closed with averages of 395,969 units valued at $1,799,200 for each security traded.
At the close of the market, stocks trading with their last traded prices are: AMG Packaging closed at $3.50 with 18,840 units changing hands, CAC 2000 traded 30 cents higher to $7 with a 32,193 shares being exchanged, Caribbean Cream had a loss of 15 cents, to close at $6.85 with a 731,500 shares trading, Caribbean Flavours closed at $12 with a 3,500 shares trading, Caribbean Producers rose 10 cent to $3.35 with a 618,208 shares traded, Consolidated Bakeries closed at $2.62 with a 15,000 shares being exchanged. C2W Music shed 1 cent to close at 39 cents with a 8,000 shares being switched, Express Catering fell 20 cents and closed at $5 with 1,302,903 shares being swapped,General Accident closed at $2.90 with a 61,215 shares traded, Honey Bun closed at $5.56 with a 2,000 shares changing hands. Iron Rock Insurance ended trading with a loss of 20 cents, at $3 with a 327,174 shares traded, ISP Finance closed at $16 with a 4,582 shares being traded, Jamaican Teas closed 25 cents higher to $4.50 with a 12,000 shares changing hands, Jetcon Corporation traded 15 cents higher, to close at $5.20 with a 442,571 units being swapped. Knutsford Express declined 5 cents, to close at $14.95 with a 5,184 shares switching owners, Lasco Distributors traded 30 cents higher to close at $6.80 with 325,195 shares changing owners, Lasco Financial rose 40 cents in trading 79,365 units to close trading at $4.20, Lasco Manufacturing traded with a lost 47 cents, and ending at $4.33 with a 6,963 shares being transferred, Main Event declined by 10 cents to close with 34,541 shares trading, to close at $5.50. Medical Disposables closed 45 cents higher at $5.95 with a 5,000 shares traded, Paramount Trading lost 49 cents to close at $2.50 with a 537,401 shares changing hands after the company posted a sharp fall in profits for the year to May and tTech lost 6 cents and closed at $9 with 7,866 shares trading.
Value traded jumps 60% on TTSE – Monday
Trading volume on the Trinidad & Tobago Stock Exchange picked up a bit on Monday but the value traded climbed 60 percent over Fridays levels. Overall trading resulted in 13 securities changing hands compared to 10 on Friday.
At the close, 4 stocks advanced, 2 declined and 7 were unchanged as 439,332 shares were exchanged at a value of $8,004,289 compared to Friday’s trades of 393,123 valued at $5,048,449.
The Composite Index advanced 0.55 points to 1,210.40, the All T&T Index rose 0.27 points to 1,792.03 and the Cross Listed Index gained 0.11 points to 84.26.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 3 stocks with bids higher than last selling prices and 6 with lower offers.
Gains| Grace Kennedy closed at $2.85, with gains of 4 cents exchanging 5,465 shares, Guardian Holdings added 1 cent to close at $16.21 with 3,000 shares changing hands, Trinidad & Tobago NGL traded at an intraday52 weeks’ high of $23.78, but closed at $23.70 after gaining 10 cents trading 161,384 shares, valued at $3,837,260 and West Indian Tobacco gained 1 cent to close at $125.51, with an exchange of 2,500 shares valued at $313,775
Losses| Angostura Holdings closed at $15.01, with a loss of 9 cents, exchanging 49,180 shares valued at $738,618 and Clico Investment lost 1 cent to close at $22.39 with trades of 27 units.
Firm Trades| First Citizens traded 1,903 shares at $31.65, JMMB Group held firm at $1.20 with an exchange of 4,311 shares, Massy Holdings remained at $49 trading 20,025 shares valued at $981,226. Point Lisas exchanged 6,745 shares at $3.87, Republic Financial Holdings closed at $101.90, with trades of 15,752 shares valued at $1,605,129, Scotia Investments held firm at $2.20 trading 169,000 shares valued at $371,800 and Trinidad Cement exchanged just 40 units at $4.14.
NCB breaks out & heading higher
NCB Financial Group broke out of a triangle pattern over the past week, as the price hit a record $81 on Friday. The technical indicator is signaling a strong buy signal and a huge movement ahead, with the group reporting strong gains in profit for 2017 over 2016. The stock has traded in a very narrow band in the $70 region for a number of months as it consolidated ahead a the big move it seems ready to make with limited supply coming into the market. Results for the none months to June suggest earnings in excess of $8 per share for 2017 with more to come in the new year starting in October. IC Insider.com placed the stock two weeks now on a market watch list.
Neveast the next office supplies IPO
It was a big giveaway for those familiar with companies prepping for listing, by way of a pending initial public offer of shares. The Jamaica Observer newspaper on Wednesday, July 26, carried an advertisement for Neveast Supplies Limited, telling readers that they were celebrating 55 years of service to its customers.
The advertisement also stated that they were leader in stationery, office furniture and office supplies. In true Jamaican nationalistic style, the advert was rapped in the black, green and gold of the Jamaican flag, no doubt in synch with the 55 years of independence celebration this year.
Industry players say, they may be one of the biggest in stationery and office supplies but not of the office furniture and fixtures. Regardless, checks by this publication with persons knowledgeable about the company’s future plans, confirmed that they are likely to be the next stationery and office equipment to list on the Junior Market of the Stock Exchange. Recently, competitor Stationery and Office Supplies concluded a successful initial public offering of shares that were several times oversubscribed and are set to be the first to list when trading in the stock is expected to commence on August 9.
The brokers to the issue when it does take place, will be Mayberry Investments. Our sources state that they have been contemplating this move from at least 2016, but there are a few issues that need sorting out and should definitely be going to the market to raise capital and be listed before the end of 2017.
According to the company’s website, Neveast Supplies Limited is a family owned Jamaican company that started in 1962 when Founder, Neville East, decided to service the country’s stationery needs. Through market penetration and the help of his wife, Pamela, Neveast Supplies Limited expanded operations to include the supply of office and systems furniture.
Today, the second generation of Easts are at the company’s helm to oversee the daily operations. Sons, David, Paul and Gregory together with thirty-two other members of staff are devoted to the company’s success and ensure that Neveast remains the leader in office furniture and supplies with competitive prices on high quality products and efficient company service.
Neveast continues to be the authorized local distributor for international brands such as Teknion Inc, Global Upholstery Inc, MIN Office Furniture, Godrej, Aurora, Moderco, Virco, and a host of stationery manufacturers from across the globe. With its headquarters located in Kingston, the company’s distribution network covers the entire island of Jamaica and recently includes coverage in neighboring Caribbean countries.
IC Insider.com has been reliably informed that Mayberry Investments should be brokering another two public offers by the end of September and possibly a third by the end of 2017, while there are listings being worked on by other brokers.
Only 10 T&T securities trade on Friday
Trading on the Trinidad & Tobago Stock Exchange on Friday resulted in 10 securities changing hands, compared to 11 on Thursday. Market activity led to 2 stocks rising, 1 falling and 7 remaining unchanged.
At the close, 393,123 shares were exchanged at a value of $5,048,449, compared to Thursday’s trades of 322,943 units valued at $11,771,171.
The Composite Index lost 0.02 points to 1,209.85, the All T&T Index declined 0.11 points to 1,791.76 and the Cross Listed Index gained 0.01 point to 84.15.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 3 stocks with bids higher than last selling prices and 6 with lower offers.
Gains| Sagicor Financial gained 1 cent to close at $8.01, with trades of 6,907 shares and Trinidad & Tobago NGL traded 9 cents higher, closing at $23.60, with an exchange of 78,579 shares valued at $1,849,738.
Losses| National Enterprises closed at $10.48, losing 1 cent trading 5,000 shares.
Firm Trades| Clico Investment exchanged 43 units at $22.40, First Citizens traded 2,562 shares at $31.65, Guardian Media closed at $18.35 with 53 units being exchanged,JMMB Group held firm at $1.20 with 275,000 shares valued at $330,000 trading. Massy Holdings closed at $49 exchanging 5,970 shares, Republic Financial Holdings traded a mere 9 units at $101.90 and West Indian Tobacco closed at $125.50, with an exchange of 19,000 shares valued at $2,384,500.