Majors in moderate fall – Wednesday

March 9, 2016 by

NCB hand another big day of trading on Wednesday following high volumes on the prior 2 days.

NCB hand another big day of trading on Wednesday following high volumes on the prior 2 days.

Jamaican main market stocks lost moderate ground again on Wednesday with declining stocks out numbering advancing ones 17 to 12 as 39 securities changed hands, in all market segments. The market closed with 4,119,539 units valued at $73,759,611 changing hands in all markets. The junior market accounted for 661,732 units changing hands, valued at $2,524,696.
The JSE Market Index lost 144.01 points to 153,042.48 the all Jamaica Composite Index dropped 160.95 points to end at 169,989.89 and the JSE combined index shed 569.64 points to close at 162,059.55.
TTSE 09-03-16 IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading was 9 stocks with bids higher than their last selling prices and 4 with lower offers.
At the end of the market activities, Berger Paints lost 10 cents while trading 3,450 shares at $4, Cable & Wireless closed at $1.40 with 552,033 units, Caribbean Cement jumped $3 to end at $23 with 218,612 shares trading. Carreras climbed $1 to close at $65, while trading 2,930 units, gleaner traded at $2 with 20,000 shares changing hands, Grace Kennedy gained 50 cents with 6,044 shares trading to close at $83.50, Jamaica Broilers gained 5 cents after trading 223,919 units to close at $14.55, Jamaica Producers traded 1,200 shares but lost $2 to close at $33. Jamaica Stock Exchange traded 5,000 shares to end with a loss of $1.90 at $21, JMMB Group had 16,994 units changing hands but lost 13 cents in closing at $10.39, Kingston Wharves had 101,153 shares trading with a rise of 1 cent at $11.36,JSE fn Qts 09-03-16 National Commercial Bank had 1,262,910 shares changing hands at $41 at the close. 138 Student Living traded 20,000 shares and gained 13 cents to end at $5.80, Pulse dropped $1.52 to cl6se at $2.40 with 22,294 units changing hands, Sagicor Group fell 50 cents with 274,371 shares changing hands at $23, Sagicor Real Estate Fund traded 114,030 shares but the price declined 50 cents to $11. Scotia Group had only 3,821 shares changing hands to close with a gain of 50 cents at $30.50. Scotia Investments rose $1.50 with 7,000 units changing hands at $28, Supreme Ventures closed at $4.99 with 23,260 units changing hands after shedding 10 cents, Proven Investments rose 2 US cents to end at 22 US cents with 530,000 units trading.

Filed Under: JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , ,

JSE up 8% for 2016 to Friday

January 29, 2016 by
Jamaican stock market gained 8% in January

Jamaican stock market gained 8% in January

Main market of the Jamaica Stock Exchange closed with gains in the indices on Friday with light trading volumes. Market activities closed with 43 securities changing hands in all market segments, 15 of which gained in the combined markets and 19 declined. At the end of the January trading accounted for $2.45 billion with the combined market index rising 8 percent, since the start of the year.
Two stocks closed at 52 weeks’ highs one at a 52 weeks’ low and one traded at intraday highs as 3,047,233 units valued at only $19,756,390 changed hands in all markets. The junior market accounted for 1,176,492 units changed hands, valued at $6,265,417.
The JSE Market Index fell sharply by 2,439.44 points to 159,591.63 the all Jamaica Composite Index closed with a big decline of 2,726.20 points to end at 177,308.95 and the JSE combined index dropped 3,176.12 points to close at 169,880.83.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading was 19 stocks with bids higher than their last selling prices and 1 with a lower offer.
ICI -JSE Sum-29-01-16At the end of the market activities, Berger Paints lost 5 cents to end at $3.70 as 106,008 units traded, Cable and Wireless ended with 1,116,925 units changing hands to close 1 cent lower at $1.59, Caribbean Cement climbed $1.65 to close at $26.65, with 9,011 shares changing hands. Grace Kennedy fell 49 cents and closed at $83, with 1,378 units changing hands. Jamaica Broilers gained 39 cents to $14.49 with 37,753 shares changing hands, Jamaica Producers gained 3 cents to $29.15 with 100,420 units trading, JMMB Group traded 47,742 units but fell by 10 cents to end at $10.90, Kingston Wharves traded 9,700 units to close with the loss of 5 cents at $11.09. Mayberry Investments had 20,000 shares changing hands and fell 16 cents to $4.35, National Commercial Bank traded only 1,200 shares but rose $1.10 to close at $41.10 after the banking group released interim results to December, last year with a 12 percent increase in aftertax profit to $2.4 billion, up from $2.1 billion. Pan ICI -JSE fn qts 29-01-16Jamaican Investment gained $1.50 with just 100 units changing hands to close at $98, Pulse Investments traded 29,583 shares with a rise of 25 cents to close at $3.25. Sagicor Group lost 55 cents to close at $22.90 with 40,900 units changing hands, Scotia Group had 9,70 shares changing hands to close with a rise of 30 cents at $31, Scotia Investments had 150,000 shares trading to close with a loss of $2 at $28. Supreme Ventures closed at $6.20 and gained of 20 cents with 105,730 units changing hands, JMMB 7.5% preference share traded 75,000 units at $2.10 after slipping 15 cents and 138 Student Living preference share traded at a 52 weeks’ low of $4.90 while trading 1,000 shares with a loss of 10 cents.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , ,

JSE continues in positive mode

January 5, 2016 by

Stocks continue to trade on a positive note with all major indices increasing in mid-morning trading to new record highs and a number stocks recording new 52 weeks’ highs up to 11 am. Interest in the stocks is wide spread with 34 securities tradedJSE intra 05-01-16 amounting to 1,456,993 units changing hands with 14 rising, while 7 declined.
The all Jamaica Composite Index rose 851.87 points to 169,083.72 the JSE Market Index gained 762.26 points to 152,231.62 the JSE combined index added 880.33 points to 160,095.23 and the junior market index is up 17.99 points to 1,832.77.
Trades of some interest include Hardware & Lumber with 300,000 units at $18.50, National Commercial Bank with 2,956 units at a new high of $40.65, 138 Student Living with 138,798 shares at $4.60, Radio Jamaica back at $5 with a small volume, General Accident with 63,115 units at $2.19, Jamaican Teas with 37,500 shares at a new 52 weeks’ of $5.25, Lasco Distributors with 220,487 shares at $5.52 but after trading at $5.60 and Lasco Manufacturing with 172,614 units at $3.55.

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Another record for JSE majors – Tuesday

December 29, 2015 by
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138 Student Living had 15.7m ordinary shares trading on Tuesday

138 Student Living had 15.7m ordinary shares trading on Tuesday

Trading ended on the Jamaica stock market with all three main indices climbing to new record highs, with gains of more than 1,300 points each. At the close 36 securities traded in all market segments. The junior market accounted for 986,076 units, valued at $3,374,729, of the trades with 22,819,782 units valued at $136,576,375 changing hands in all markets.
A total 16 stocks in the combined markets gained and 7 declined. Three stock traded at 52 weeks’ closing high and 2 at intraday 52 weeks’ high as the bull market continues to wind its way forward.
At the close the JSE Market Index climbed 1,335.32 points to 148,495.46, the all Jamaica Composite Index rose 1,492.29 points to end at 164,908.34 and the JSE combined index gained 1,485.93 points to close at 155,614.84. The main market faces resistance test around the 165,000 points level, on the all Jamaica composite index.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 14 stocks with bids higher than their last selling prices and 5 with lower offers.
JSE Sum 29-12-15In trading, Cable and Wireless fell 3 cents with 526,770 units changing hands at $1.30, Caribbean Cement rose by 10 cents to end at $18.20, with 33,096 shares trading, Carreras closed at $60.75, with 11,295 units changing hands. Grace Kennedy fell 1 cent with 4,184 units changing hands, to finish at $80.10, Jamaica Broilers rose 45 cents to close at $10.50 with 193,627 shares changing hands, Jamaica Producers traded 128,125 shares to end at $32, JMMB Group fell 20 cents to close at $10.25 with 2,312,613 units changing hands. Kingston Wharves gained just 1 cent to close at $11.35 with 40,200 shares changing hands, Mayberry Investments had 64,197 shares trading at $4.35 for a loss of 5 cents, JSE Fn Qts 29-12-15National Commercial Bank lost 20 cents to end at $39.50, with 9,055 units changing hands, 138 Student Living ended with 15,679,334 units trading in 4 lots to close at $4.50. Pulse Investments traded 10,000 units with a gain of 20 cents to end at $2.95, Sagicor Group gained 90 cents and closed with 957,863 units changing hands at $18.50, Sagicor Real Estate Fund traded 124,100 shares to close with an increase of 80 cents at $11, Scotia Group had 54,846 shares changing hands at $30, Sterling Investments had 17,049 units trading at $13, Supreme Ventures ended at $4.66 with 1,424,317 units changing hands and Jamaica Money Market Brokers 7.50% preference share traded 228,650 units at $1.99.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , ,

JSE drops in early trading

December 22, 2015 by

The Jamaica Stock Exchange recorded early gains in the morning session on Tuesday in the two local markets with Scotia Group rising to $31 with 60,000 shares trading but the stock fell back to and pulled the main market index down. The junior market which was marginally up early in trading has since slipped with more stocks being traded.
JSE intra 22-12-15At 10:45 am, 29 securities traded as 11 stocks rose and 13 declined with 3,530,973 units changing hands. The all Jamaica Composite Index dropped 1,309.95 points to 161,463.90, the JSE Market Index fell 1,172.15 points to 145,413.34, the JSE combined index declined 1,307.79 points to 152,192.34 and the junior market index is down 22.52 points to 1,668.66.
Interesting trades include 138 Student Living that is having a third day of high volume with 1,754,230 at $4.50 today following Mondays 6,520,000 shares and Friday’s 59 million units. Cable & Wireless traded 668,782 shares at $1.39 but remains under selling pressure with weak bids and with the number and volume of offers being greater than the bids. Scotia Group traded 645,360 units with some being exchanged at a new 52 weeks’ high of $31 but it fell back to $28.60, down by $2.38 from Monday’s close and Lasco Financial traded 106,288 shares at $3.50 but now boast a bid at $3.55 to buy 58,543 units.

Filed Under: JSE Main Market, Stock Market Tagged With: , , , ,

JSE makes gains in early trading

December 21, 2015 by

The junior market recorded gains in the morning session on Monday in the two local markets driving the indices to new highs.JSE intra 21-12-15 A total of 25 securities traded as 9 stocks rose and 7 declined with 7,596,989 units changing hands.
At 11 am, the all Jamaica Composite Index gained 258.15 points to 163,074.80, the JSE Market Index gained by 231 points to 146,854.79, the JSE combined index gained 360.70 points to 153,703.96 and the junior market index is up 15.98 points to 1,685.54.
Interesting trades include 138 Student Living with 6,520,000 shares trading at $4.50 and Lasco Financial trading 458,240 shares at $3.50.

Filed Under: JSE Main Market Tagged With: ,

Record Friday for JSE stocks

December 18, 2015 by

138 Student Living led the majors with 59m shares on Friday.

138 Student Living led the majors with 59m shares on Friday.

The main market recorded another day of strong gains of more than 2,200 points on Friday to reach a new record. The market closed with 117,491,770 units valued at $587,527,747 changing hands, in all market segments with 34 securities trading.
The junior market accounted for 55,544,624 units, valued at $296,776,261 as 13 stocks in the combined markets gained, 6 declined, 4 stocks closed at 52 weeks’ high.
138 Student Living had the largest trade in the main market with 58,949,590 units valued at $265,273,155 to close 10 cents up at a 52 weeks’ high of $4.50 while Honey Bun traded 55.2 million units valued at $295,438,307 in the junior market.
At the close the JSE Market Index climbed 2,213.58 points to 146,623.79, the all Jamaica Composite Index rose 2,473.80 points to end at 162,816.65 and the JSE combined index added 2,381.16 points to close at 153,343.26. The main market continues to face a test at the 165,000 points resistance level, on the all Jamaica composite index, but based on the churning of price movements in recent weeks, it is likely to take some more trading days to break through that level if the break takes place.
JSE Sum 18-12-15 IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 8 stocks with bids higher than their last selling prices and 5 with lower offers.
In trading, Berger Paints ended with 19,344 units trading at $3.15, Cable and Wireless lost 10 cents with 266,406 units changing hands to close at $1.30, at the close, there were over 1.84 million units on the offer at $1.40 with bids not looking particularly strong at $1.30 and below. Caribbean Cement closed with a rise of 20 cents to end at $18.20, with 19,955 shares changing hands, Carreras gained 99 cents in closing at $60 with 18,184 units trading, Ciboney traded at 27 cents with 54,500 units changing hands, Grace Kennedy gained 50 cents, with 77,778 units changing hands, to finish at a 52 weeks’ closing high of $80. Jamaica Broilers price fell $1.86 to $8.64, with 32,234 shares changing hands, the stock was offered for sale at $9.90 at the close, Jamaica Producers traded 13,000 shares at $31.90, JSE Fn Qts 18-12-15The Jamaica Stock Exchange share traded 5,000 units to close at $18.95, Kingston Wharves saw trading in 10,000 shares at $11.35 as the price slipped 5 cents. National Commercial Bank rose 30 cents and ended at $39 with 22,500 units changing hands, Pan Jamaican Investment had 20,000 units changing hands at $92.50, having risen 39 cents, Sagicor Group closed with 50,628 units changing hands but the price gained 69 cents to end at $17.50 for a new 52 weeks’ closing high. Scotia Group gained $1.99 with 73,780 shares changing hands at a 52 weeks’ closing high of $30.99 and Supreme Ventures fell 50 cents to end at $4, with 2,300,000 units changing hands.

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No rescuer for JSE on Wednesday

December 2, 2015 by

NCB closed at new high of $39 on Wednesday.

NCB closed at new high of $39 on Wednesday.

The number of securities trading on Wednesday increased and remains at elevated levels over 40 as the market closed with 9,838,406 units valued at $28,674,620 changing hands, in all market segments, but the market indices declined by the close.
At the close, 3 stocks ended at 52 weeks’ high and 1 at an intraday high in both markets.
The JSE Market Index fell 229.17 points to 140,250.54, the all Jamaica Composite Index declined by 256.11 points to end at 155,694.18 and the JSE combined index dipped 483.84 points to end at 146,612.97.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 12 stocks with bids higher than their last selling prices and 2 with lower offers.
JSE Sum 2-12-15In trading, Cable and Wireless closed with 822,927 units changing hands at $1.52 after the price fell by 2 cents, Caribbean Cement traded at an intraday 52 weeks’ high of $20.44 but settled back at $18.50 having shed 60 cents, with 300,860 shares changing hands. Carreras closed at $56 with 19,808 units trading. Desnoes & Geddes ended with 5,000 shares trading at $30, Jamaica Broilers lost 4 cents in trading 156,111 shares, to close at $8.46, Jamaica Stock Exchange traded 10,000 units to end at $14 for a 52 weeks’ high, with a gain of 55 cents, JMMB Group rose 24 cents while trading 129,084 shares, to close at $10.25. Kingston Wharves traded 65,116 units and fell 27 cents to end at $11.20, Mayberry Investments ended with just 198 shares changing hands but fell 42 cents to $4.29, National Commercial Bank closed at a 52 weeks’ high of $39 with a gain of $2.66 while trading 7,840 units. 138 Student Living ended with 6,350 shares and recovered 35 cents to end at $4.35, JSE Fn Qts 1-12-15rPulse Investments had 20,000 units trading at the close at $2.18 after it traded earlier at $2.50, Radio Jamaica lost 4 cents in trading 58,547 units at $5.05, Sagicor Group fell 50 cents in trading 146,805 units to end at $15.50. Sagicor Real Estate X Fund gained 25 cents with 5,500 units changing hands at $10.25. Scotia Group had 42,660 shares changing hands at $27, Seprod gained 6 cents in trading 14,880 units at $18.61. Proven Investments closed with 16,020 units changing hands at 23 US cents, Jamaica Money Market Brokers 7.50% preference share ended trading with 117,000 units at $1.81 and Jamaica Money Market Brokers 8.50% preference share traded 110,800 at $4.19, with a fall of 31 cents.

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138SL 2016 profit could hit $80M

August 16, 2015 by

John Lee“Handing over of the buildings by the contractor will be in stages, scheduled for August 10, August 20 and mid-September. The Management team is now in place and support staff have been recruited to deliver a new experience in student living and to welcome the first batch of 576 students at 138 Student Living in early August 2015,” John Lee, Chairman of the company advised shareholders recently in the release of their June quarter financials.
Based on the completion the units, the company looks set to earn around $80 million in profit in its first full year of operating, well above a loss of $71 million that was projected in the prospectus. By year 2 profits should be hitting the $120 million mark or 30 cents per share, on the assumption that the exchange rate will remain relatively stable versus the US dollar.
Phase 1 of the Construction commenced September 2014 and is being financed by a joint $1.35B loan from Jamaica Mortgage Bank (JMB) and National Commercial Bank (NCB) and from proceeds of the public share issue of more than $500 million raised. Long term funding, by way of a bond, to repay the construction loan received from Jamaica Mortgage Bank and National Commercial Bank has been secured and will be paid on the completion of the buildings, Lee stated.
Construction of phase 2 consisting of another 576 rooms is scheduled to commence in September 2015 and will come into operation in August 2016. Negotiations have commenced with the preferred contractor which should lead to a final construction contract.
The company has signed a new concession agreement with UWI Mona for the restoration and

138 Student Living, artist impression of a block.

138 Student Living, artist impression of a block.

reconstruction of certain traditional halls, with the room count under this agreement totalling approximately 750, operational for a maximum period of 35 years. The Concession is being done under a 100 percent subsidiary, 138 SL Restoration.
The company incurred cost on construction of just over $1 billion up to June that was partially financed by $617 million in loans.
The company has not yet commenced operation, as such there is no income statement as all cost is capitalized as a part of the construction expenditure.
Profit or loss| The company had projected rental income of $335 million based on the exchange rate being at $122 by September 2015 and J$131 by September 2016. Nevertheless, rental income is more likely to be in the region of $320 million, assuming all rooms are rented for 12 months. On the plus side, the cost of electricity that was projected at $67 million may come in under that amount with the fall in the cost of electricity since last year. Interest cost was projected at $270 million but that seems to be far over the actual figure that is likely to be incurred and charged against income in the year to September 2015. Actual interest plus preference dividend chargeable against income in 2016 is likely to be the order of $100 million based on the amount borrowed to complete phase 1 and the issued preference shares of $168 million.

Filed Under: Company News, Company Results Tagged With: , ,

JSE poised to rise on Wednesday

June 23, 2015 by

PriceBalloons_KittisakFREEIMAGE280x150pxActivity on the Jamaica Stock Exchange picked up with one of the better trading days in terms of the number of securities being active. At the close there were 14 stocks rising, 8 declining as 39 securities changed hands, including 4 that closed at new 52 weeks’ high and ending in 4,671,007 units trading, valued at $73,832,092, in all market segments.
The changes in the market indices were very small with the JSE Market Index gaining just 13.43 points to 97,452.41, theJSE All Jamaican Composite index rising by 15.01 points to close at 107,864.54 but the JSE combined index declined by 4.07 points to end at 100,255.47.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 14 stocks with bids higher than their last selling prices and just 3 with offers that were lower, a suggestion that advancing stocks should have the upper hand again on Wednesday.
JSE sum 23-6-15In trading, Cable & Wireless closed with 1,149,216 units trading to end at 45 cents, Carreras traded 321,462 shares and gained $2.19 to end at $50.50, Desnoes & Geddes gained 44 cents in trading 733,245 shares to close at $8. Gleaner ended with 108,114 shares changing hands but lost 8 cents at the close, Grace Kennedy had 26,700 units changing hands and put on 64 cents to $64, Jamaica Broilers gained 55 cents while trading 8,410 units to end at $6. JMMB Group ended with 20,085 shares trading unchanged at $7.50, Kingston Wharves put on 30 cents in closing at $7 having traded just 2,900 units. Mayberry Investments traded 252,867 shares to close at $2.60 after shedding 30 cents, National Commercial Bank lost 44 cents in trading 1,008,211 shares at $29.01 at the end. JSE fn qts 23-6-15 138 Student Living regained the 40 cents it lost recently to close at $4.40 with 20,000 units changing hands, Pan Jamaican dropped $2.70 with 59,230 units to close at $60.80, Proven Investments traded 305,252 shares between 22 US cents and the closing price of 19.01 US cents, for a slight gain at the end. Radio Jamaica closed with a gain of 30 cents to a new 52 weeks’ high of $3.50 with just 4,214 shares changing hands, Sagicor Group was up 55 cents with 191,448 units trading to end at $12.95, Sagicor Real Estate X Fund closed 1 cent higher at a new high of $8.01 after 4,000 shares were exchanged. Scotia Group had 95,808 units trading 10 cents higher at $23.25 and Scotia Investments traded 15,000 shares at $29.85 at the close.

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