Thursday, 29th August 2013 | Carreras shares recovered from Wednesday’s slide by putting on $2.50, which is 50 cents more than it lost, as the stock traded between $46.89 and $48. The gain in Carreras helped the Jamaica Stock market’s main indices to gain ground as the All Jamaica index gained 417.80 to end up at 84,754.04, while the Main Market Index gained 237.45 to 84,717.61. The Junior Market Index bucked the positive trend by falling 19.56 to close at 778.52. In today’s trading 31 securities traded of which 7 advanced, 9 declined and 16 traded firm as 4,856,227 shares traded with a value of $30,498,966.
Stocks that traded with good volumes include Berger Paints 450,000 units valued at $1,012,600 trading at $2.25; Carreras 51,561 valued at $2,429,258 to close at $47.50 a gain of $2.50; Caribbean Cement chipped in with 115,700 to close at $2.30 down 44 cents as trade accounted for $265,820; Desnoes & Geddes 521,832 units firm at $4.50 for a value of $2,348,244; Hardware & Lumber 105,000 units at $4.50 valued at $474,400 as the price fell by 10 cents; Mayberry Investments 90,739 units firm at $2.60; National Commercial Bank 342,222 units valued at $6,497,121 closing at $19 up 39 cents; Sagicor Life Jamaica 44,174 units as the price closed at $8.20 up 3 cents; Scotia Group Jamaica 181,319 units valued at $3,871,161 at $21.35 up 28 cents; Proven Investments 8% preference stock 1,733,460 units firm at $5.09 valued at $8,823,311.
Jamaica Stock Exchange ordinary shares traded 16,715 units lost 10 cents to close at $3.
Junior Market | The number of stocks in junior market advancing was less than those declining. Access Financial Services traded 281,700 to close at $8.20 off 5 cents; Caribbean Producers Jamaica 128,413 units at $2.03; Consolidated Bakeries 37,500 units at $1.45 as loss of 5 cents; General Accident Insurance 157,822 units at $1.70 down 20 cents; KLE Group 22,682 units to closed firm at $1.61; Lasco Distributors 22,000 units, closed at $1.46 down 8 cents; Lasco Financial Services 129,482 to close at $1.40 down 2 cents and Lasco Manufacturing 255,030 at 1.60 up a cent.
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 3 stocks having offers lower than their last selling price.
After the Bell | Scotia Group Jamaica reported net income of $3.06 billion for the third quarter ended July 31, 2013. This is $127 million above the previous quarter ended April 30, 2013 and $468 million above the quarter ended July 31, 2012. For the nine months ended July 31, 2013, net income was $8.71 billion compared to $7.95 billion for the same period last year. Earnings per share (EPS) for the nine months was $2.70 compared to $2.45 for the same period last year. Today the Board of Directors approved a third interim dividend of 40 cents per stock unit payable on October 9, 2013, to stockholders on record at September 18, 2013.
Scotia Investments Jamaica reported its unaudited financial results for the nine months ended July 31, 2013. Net income for the quarter was $562 million or 51 percent above the $372 million earned in the previous quarter and 18 percent above the $477 million made in the 2012 quarter. For the nine months ended July 31, 2013, net income was $1.421 billion, down $90 million or 6 percent when compared to the same period last year. Earnings per share (EPS) for the nine months was $3.36 compared to $3.57 for the same period last year. The Return on Average Equity (ROE) stood at 16.10 percent, down from 18.69 percent reported for the last year. The Board of Directors has approved an interim dividend of 45 cents per stock unit, payable on October 9, 2013, to stockholders on record as at September 18, 2013.
Desnoes & Geddes reported flat profits of $1.2 billion for the twelve months to June this year as redundancy payment of $150 million and an adjustment of $88 million relating to 2012 taxation bit into net profits. As such, the June quarter results came in at $161 million compared to $472 million in the same quarter last year.
First Caribbean International Bank continues to be plagued by nonperforming loans as the banking group reported another disappointing quarterly profit of US$9 million versus US$18 million last year, while the nine months results came in at US$43 million compared to US$47 million in 2012.
