JSE main market dropped on Wednesday

Trading on the Main Market of the Jamaica Stock Exchange ended on Wednesday as the JSE All Jamaican Composite Index fell 701.49 points to 314,200.56 and the JSE Index declined by 639.13 points to 286,272.26.
Main and US market activities ended with moderate trading levels leading to prices of 9 securities rising, 10 falling, 11 trading firm as 30 securities traded, including 1 from the US market versus 29 on Tuesday.
Main market activity ended with 8,750,362 shares valued at $150,223,412 changing hands, in contrast to 1,619,946 shares valued at $24,684,399 trading on Tuesday.
The US market closed with Proven Investments exchanging 538,360 ordinary shares, at 22.95 US cents, with a value of US$124,579 and leading to the JSE US Equities Index falling 2.99 points to close at 171.11.
Market activity ended with an average of 312,513 shares valued at $5,365,122, in contrast to just an average of 57,855 shares valued at $881,587 on Tuesday. The average volume and value for the month to date amounts to 175,215 units valued at $3,541,807 and previously, 138,250 units valued at 2,267,631. January closed with average of 239,900 units valued at $5,158,193 for each security traded.
IC bid-offer Indicator| At the end of trading in the main and the US dollar markets, the Investor’s Choice bid-offer indicator reading shows 8 stocks ended with bids higher than their last selling prices and just 1 closed with a lower offer.
Major price changes at the close of the market are, Kingston Wharves gained $1 to a 52 weeks’ high of $36.50, Jamaica Broilers lost $1 to $18, Sagicor Group rose $1.25 to $36 and Sterling investments lost 90 cents to close at a low of $9.10. Dominating trading, are Ciboney that traded 1.295 million units, PanJam Investment 1.5 million shares and Sagicor Real Estate Fund clearing 3.26 million units.

For more details of market activities see – 9 JSE stocks rose 10 fell – Wednesday.

Junior Market makes strong gains – Monday

The Junior Market made further gains at the close on Monday with the index climbing 36.88 points to close at 2,800.41 as the prices of 9 securities advanced, 6 declined and 7 remained unchanged.
At the close of market activities, trading ended with an exchange of 4,267,682 units valued at $16,140,258 with 22 securities changing hands, compared to 3,500,362 units valued at $13,179,651 from 22 securities changing hands, on Friday.
For the month to date an average of 107,450 shares valued at $423,942 and previously, an average of 102,949 shares valued at $407,835. December closed with an average of 568,732 units valued at $3,447,957 for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 3 stocks ending with the bid higher than the last selling price and 5 with lower offers.
At the close of the market, Access Financial closed at $42.10, with 641 shares, AMG Packaging ended at $2.40, with 26,311 stock units, Cargo Handlers settled 45 cents higher at $10.50, with 5,300 shares, Caribbean Cream ended trading 41 cents higher at $5.50, with 112,841 shares, Caribbean Producers finished trading and rose 27 cents to $4.57, with 10,000 units. Derrimon Trading fell 10 cents to end at $7, with 4,663 shares, Express Catering ended trading at $4.50, with 60,621 shares, FosRich Group traded with a loss of 1 cent at $2.60, with 11,869 shares, General Accident finished trading with a fall of 13 cents at $2.72, with 20,000 shares. GWest Corporation closed 30 cents higher at $3.20, with 110,020 stock units, Honey Bun ended 18 cents higher at $4.50, with 19,200 units, Jamaican Teas settled at $4.60, with 10,518 shares, Jetcon Corporation ended trading with a loss of 25 cents at $4.25, after 51,030 stock units changed hands. KLE Group finished trading 28 cents higher at $2.53, with 87,602 shares, Knutsford Express closed at $15, with 1,500 shares, Lasco Distributors ended 10 cents higher at $3.60, with 3,366,216 shares, Lasco Financial concluded trading with a loss of 16 cents at $5.24, with 294,996 stock units. Lasco Manufacturing finished 17 cents higher at $4.17, with 68,811 units, Main Event settled with a loss of 70 cents at $5.50, with 4,363 shares, Medical Disposables ended trading 5 cents higher at $5, with 150 shares, Paramount Trading traded at $3.45, with 930 shares and Stationery and Office finished trading at $5, with 100 stock units.

Prices of securities trading for the day are those at which the last trade took place.

Barita is back VM Investments out – TOP 10

There is only one change to the TOP 10 lists, since we last reported on it, with Victoria Mutual Investments rising to more than $4 from the IPO price of $2.45, after listing in December and is replaced by Barita Investments.
Junior market stocks show some noted position change due to price movements. Key Insurance slipped in price to move atop that list, while Jamaican Teas gained and moved into the second half of the listing. CAC2000 posted results that were just 2 cents lower than IC Insider.com’s forecast of 80 cents, with the price climbing to $7.31 at close of the week and should really be going higher based on those numbers. Access Financial climbed back to $42, pushing it to the bottom of the list.
Former TOP 10 listing, Main Event reported a 79 percent jump in earnings for 2018, to 38 cents per share before taxation, the price may bounce about for a while around the $6, until it is clear that 2018 earnings should hit 55 cents per share.
With the Initial Public offerings (IPOS) out of the way, more life returned to the secondary market this past week with the main market enjoying buoyant volumes and the Junior Market recording some recovery with more buying interest.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 8.6 and 8.4 for the main market TOP 10. The average PE for the overall main market is 15 and 13.6 for the Junior Market, based on 2017 estimated earnings.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 37 percent to the average of the market for Junior Market Top stocks and 44 percent for the main market.
Market Watch| Investors should still keep a keen eye on Caribbean Cement for which supply seems to be declining and word that the company is close to an agreement in refinancing the leased assets that is expected to result in major savings in cost for 2018 onwards. FosRich and GWest Corporation, pulled back from their highs this past week with FosRich hitting $2.50 in trading on Friday, this one could see some rebounding but GWest Corporation could decline some more. Others to be watched are, CAC2000, General Accident, Cable & Wireless, NCB Financial, Berger Paints, JMMB Group, Main Event, Lasco Financial, Paramount Trading and Stationery and Office. Wisynco pulled back this past week to $10.80 and may well trade around this level for a while with a PE of 15 times 2018 earnings, as profit taking continues.

TOP 10 stocks – Watch for Wisynco

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Wata produced by Wisynco

Movement in the TOP 10 lists, resulted in just one move out, while some changed positions notably on the list. Main Event was the sole stock dropping from the top list leaving room for Caribbean Cream to move in.
With the Initial Public offerings (IPOS) out of the way, more life returned to the secondary market this past week with the main market gaining strongly but Junior Market stocks continue to struggle but helped by gains in price of two new listings.
The year ahead will see a number of changes to the TOP listings with several of the current listing carrying over. Only ISP Finance so far is showing as a new likely TOP 10 listing for 2018 in the Junior Market. The main market list is likely to see about 4 new entrants for 2018, with Cable & Wireless, Barita Investments, Palace Amusement and Wisynco depending on when it list, joining the top stocks. Radio Jamaica sits just below the TOP 10 and could well squeeze into the 10 by the start of 2018. Profit results for the fourth quarter, are likely to impact prices of most stocks as the information will provide important fuel for price movements.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 7.9 and 8.2 for the main market TOP 10. The average PE for the overall main market is 14.2 and 13.4 for the Junior Market, based on 2017 estimated earnings.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 41 percent to the average of the market for Junior Market Top stocks and 42 percent for the main market.
Market Watch| Investors should still keep a keen eye on Caribbean Cement for which supply seems to be declining with the focus on refinancing of leased assets that is expected to result in major savings in cost for 2018 onwards. FosRich and GWest Corporation, the recent IPOs, started trading on the Junior Market last week with strong gains so far, they should be watched in the few trading days left for the year, to glean further directions as both are now richly priced. Others to be watched are, General Accident, Cable & Wireless , NCB Financial, Berger Paints, JMMB Group, Main Event, Lasco Financial, Paramount Trading and Stationery and Office. Wisynco could start trading this week and is expected to create some excitement with the issue more about twice oversubscribed.

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TOP 10 stocks – Watch FosRich on Tuesday

With the Initial Public offerings (IPOS) out of the way, more life returned to the secondary market this past week resulting in some changes to the TOP 10 lists.
Initial Public offerings for 2017 now seem to be over until they reappear in January, with Sygnus Capital Investments planning to be out of the block early. Others that were prepared to go in December could come to market in January, the start of what now appears to be another interesting year for local stocks. Coming Tuesday in the wider market, FosRich Group, the recent IPO will list and start trading on the Junior Market.
Prior to the past week, the focus on IPOs negatively affected trading in the secondary market with the Junior Market giving up almost all the gains make in the first half of the year and is still trading close to the low for the year.
The past week ended with Main Event as the only new entrant into the TOP 10 Junior Market stocks, with Blue Power leaving, as the price rose back to the $44. Sagicor Group returns to the Main Market list pushing out Pulse Investments. Interestingly, General Accident jumped to $3 by week end with limited supplies and slipped to number 2 on the list.
Investors should bear in mind that as the year closes, there will be changes to the TOP list for 2018, with a number on the current list, expected to repeat, but there will be new ones.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 8.1 and a PE of 8.2 for the main market TOP 10. The average PE for the overall main market is 14.2 and 12.8 for the Junior Market, based on 2017 estimated earnings.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 36 percent to the average of the market for Junior Market Top stocks and 44 percent for the main market.
Market Watch| The two markets seem to have found support this past week after retreating sharply over the prior two weeks. Investors should still keep a keen eye on Caribbean Cement for which supply seems to be declining fast and a focus on refinancing leased assets is expected to result in major savings in cost for 2018 onwards. FosRich, the recent IPO that starts trading on the Junior Market on Tuesday, General Accident, Cable & Wireless that appears scarce under $1, NCB Financial, Berger Paints, JMMB Group, Main Event, Lasco Financial, Paramount Trading and Stationery and Office.

Jam Teas, Blue Power & Wisynco in TOP 10

In a week of big price movements in the market three new stocks moved into the TOP 10 at the close of the last week. Wisynco that IPO debut this week just makes it into the main market TOP 10, suggesting there should be some gains ahead.
The bulk of Wisynco’s gain should come in the latter part of 2018 based on current operations that should deliver earnings of 70 cents for the current year and $1 for the next fiscal. Blue Power slipped in price to re-enter the top Junior Market list while Jamaican Teas rose based on fall in price and estimated earnings for 2018 fiscal year. Out of the TOP 10 Junior Market, are Derrimon Trading and Main Event that rose to $6. Wisynco pushed Pulse Investments out of the main market TOP 10.
At the close of Friday, the average PE ratio for Junior Market Top stocks dropped sharply from 9.2 last week to at 8.1 and a PE at 8.5 for the main market TOP 10. The average PE for the overall main market is 14.3 and 12.9 for Junior Market, based on 2017 estimated earnings.
At the close of the week, discount for both the main and Junior markets have virtually merged, with the IC Insider.com’s TOP 10 stocks now trading at an average discount of 42 percent to the average of the market for Junior Market Top stocks and 43 percent for the main market.
Market Watch| The two markets retreated sharply and broken through support levels with some individual stocks pulling back and pushing the market index down markedly. This week the focus could be on the three IPOs that opening in days.
Investors should still keep a keen eye on Caribbean Cement for which supply seems to be declining fast, Cable & Wireless that appears scarce under $1, NCB Financial, Berger Paints, JMMB Group, Main Event, Lasco Financial, Paramount Trading and Stationery and Office.

Kremi & Jamaican Teas in TOP 10

Main Event rose in price and Medical Disposables (Meds) dropped out of the TOP 10 and were replaced by Caribbean Cream and Jamaican Teas.
Main Event rose from $5.50 to $5.75 on Friday, enough to lift them out of the Top list. Earnings at Meds were lowered with the release of the 6 months results with a 21 percent increased sales, in the September quarter but a reduction in profit margin and net profit.
JMMB Group rose from $29.50 to a record close of $30.50 and is sitting at the lower end of the main market list. Grace Kennedy reported good September quarter results, excluding one off gains while Berger Paints‘ six months results show revenues for the September quarter rising 21 percent and profit is up approximately 70 percent when the cost associated with the offer from Ansa Coatings offer is taken out. Berger traded to close on Friday at $15 and is one to watch in the week.
This coming week should see a raft of company results that could shake up the top 10 in both markets. On Friday Lasco Financial, a former TOP 10 stock, reported profit that more than doubled in September quarter to $100 million and up 63 percent to $167 million for the six months. These results could encouraged increased buying in the stock.
At the close of Friday, the average PE ratio for Junior Market Top stocks is at 9.1 and a PE at 7.3 for the main market TOP 10. The average PE for the overall main market trades at 14 and 13.7 for Junior Market, based on 2017 estimated earnings.
At the close of the week, IC Insider.com’s TOP 10 stocks now trade at an average discount of 39 percent to the average of the market for Junior Market Top stocks and 48 percent for the main market.
Market Watch| Investors should keep a keen eye for Caribbean Cement, Cable & Wireless that is expected to post improved profit in the latest quarter from increasing revenues, NCB Financial, Berger Paints, Jamaica Broilers, JMMB Group, Access Financial, General Accident that is expected to benefit from a rise in premium rates, Lasco Financial, Paramount Trading and Stationery and Office.

Stationery & Office Supplies back in TOP 10

Stationery & Office Supplies back in IC Insider.com TOP 10

There is just one change in and out of the IC Insider.com TOP 10. Lasco Distributors dropped out, resulting from the Judge’s ruling in their claim against Pfizer, suggesting that damages will be substantially lower than the amount claimed.
Lasco is replaced by Stationery and Office Supplies returning after just one week out of the top list. The company should report results for the nine months during the coming week. BUY RATED Caribbean Cement that was expected to exit the top list during the past week remains with the price retreating to close the week at $31 as investors failed to follow through on the pick up in price in the prior week in response to the third quarter results to September. Berger Paints also slipped back, with the price falling from $17 last week to end at $14 this past week, but it traded during the week as high as $18.
At the close of Friday, the average PE ratio for Junior Market Top stocks is at 8.4 and a PE at 7.3 for the main market TOP 10. The average PE for the overall main market At the close of the week, IC Insider.com’s TOP 10 stocks now trade at an average discount of 43 percent to the average of the market for Junior Market Top stocks and 48 percent for the main market.
Market Watch| Investors should keep a keen eye for, Cable & Wireless that is expected to post improved profit in the latest quarter from increasing revenues, NCB Financial, Berger Paints that should release September results early this week, Jamaica Broilers, JMMB Group, Access Financial, General Accident that is expected to benefit from a rise in premium rates, Paramount Trading after the company announced new expansion into chlorine and bleach production and Stationery and Office with September results early this week.

Cement to head out of TOP 10

Caribbean Cement increased sales by 14% in Q3 2017.

IC Insider.com BUY RATED Caribbean Cement that showed all the signs of a big pay day is set to break out of the TOP this coming week as investors belated respond to this year’s results.
The company posted earnings of 88 cents for the September quarter, from a 15 percent increase in volume sales and should earn over $3 per share for 2017 and seems set to earn more than $4 in 2018 as it benefits from an upsurge in construction activity that will accelerate next year. The stock climbed to trade at a 52 weeks’ high of $40 on Friday, but closed at $36.10, a strong 33 percent ahead of the close of the previous week. Berger Paints is up 21 percent from last week’s close and is heading higher with very good prospects for increased profits this fiscal year and the next, as construction activity continues to benefit from increased demand, helped by falling interest rates that will make home ownership less costly than before.
Pulse Investments dropped out of the Top tier and Cable and Wireless has returned, the next set of results should help to move this stock higher. The Junior Market saw one change with Main Event entering, just edging out Stationery and Office Supplies.
The main market enjoyed the fourth consecutive weekly record close, driving the All Jamaica Composite Index to a record 321,000.17. The market is well clear of resistance around 300,000 points on the all Jamaica Index and continues heading to the next major resistance at the 360,000 points range, on its way to the 500,000 points mark in 2018.
At the close of Friday, the average PE ratio for Junior Market Top stocks is at 8.3 and a PE at 8 for the main market TOP 10. The average PE for the overall main market trades at 14.2 and 13.8 for Junior Market, based on 2017 estimated earnings.
At the close of the week, IC Insider.com’s TOP 10 stocks now trade at an average discount of 40 percent to the average of the market for Junior Market Top stocks and 44 percent for the main market.
Market Watch| Investors should keep a keen eye for Caribbean Cement, Cable & Wireless, NCB, Berger Paints, Jamaica Broilers, JMMB Group, Access Financial, General Accident, Paramount Trading and Stationery and Office.

NCB jumps TOP 10

NCB Financial Group closed at a record $107 on Friday.

 NCB Financial returned to the main market list last week, but with a jump of $16 to $107 during the week, it ii no longer in the top list.
Barita Investments traded up to $9 and is now out of the listing. Pulse Investments and Seprod replaced NCB and Barita as the main market of the Jamaica Stock Exchange closed at new record high on Friday, the third consecutive week of record close, driving the All Jamaica Composite Index 313,990.54.
While the main market is making new highs, with gains of 49 percent for 2017, the junior market with gains of just 12 percent at the end of the previous week is now up 17 percent as the market moved higher for the past week helped by strong results by Paramount Trading, Express Catering and increased buying of Stationery and Office Supplies that pushed the price to $5.50 to sit at 10th spot and could well be off the list by the end of the coming week.
The Junior Market list had no movement in or out in the past week. Trading in Berger Paints shares recommenced on Tuesday, after just 6.6 million units were sold by investors in response to the buyout offer by Ansa Coatings at $10.88 per share with the price closing at $14 on Friday and seemingly poised to rise further during the coming week as investors attempted to trade it at $17 which was outside the daily price limit of 30 percent above the last price. The stock has much room to climb, with the March 2018 full year’s earnings that should hit $2.30 per share.
The main market blast well clear of resistance around 300,000 points on the all Jamaica Index and heading much higher to the next major resistance at the 360,000 points range.
At the close of Friday, the average PE ratio for the Junior Market Top stocks is at 8.1 and a PE at 7.5 for the main market TOP 10. The average PE for the overall main market trades at 13.9 and 13.8 for Junior Market, based on 2017 estimated earnings.
At the close of the week, IC Insider.com’s TOP 10 stocks now trade at an average discount of 41 percent to the average of the market for Junior Market Top stocks and 45 percent for the main market.
Market Watch| Investors should keep a keen eye for NCB, Berger, Jamaica Broiler, General Accident, Paramount Trading and Stationery and Office.