The JSE All Jamaican Composite Index continues to eat away at resistance around the 300,000 points levels, advancing by 2,135.19 points to close at 302,498.35 with the JSE Index following with a rise of 1,945.40 points to a record close of 275,610.21.
At the close of the market, Barita Investments closed at $8, with 7,550 stock units trading, Berger Paints finished trading 25 cents higher at $11.50, with 248,769 shares, Cable & Wireless ended trading 8 cents higher at $1.18, with 1,105,000 units, Caribbean Cement ended trading 95 cents higher at $27.50, with 8,250 units, 
Carreras closed with a loss of 10 cents at $11.90, with 151,770 stock units, Grace Kennedy ended with a loss of 75 cents at $42, trading 85,614 shares. Jamaica Broilers finished 5 cents higher at $18, with 66,650 units, Jamaica Producers settled with a loss of 40 cents at $15.60, with 2,000 shares changing hands, Jamaica Stock Exchange closed 5 cents higher at $7.25, with 1,000 shares, JMMB Group ended $1 higher at $27, with 62,554 units, Kingston Properties rose 5 cents to end at $7.20, with 160 shares. Kingston Wharves finished trading at $30, with 25,722 stock units, 1834 Investments traded 33,558 shares at $1.25, 
PanJam Investment lost 52 cents to end at $38, with 10,000 stock units, Portland JSX traded 25 cents higher at $8.75, with 5,000 units, Radio Jamaica closed at $1.15, with 2,500 shares, Sagicor Group traded 37,406 units with a gain of $1.49 to end at $40. Sagicor Real Estate Fund ended trading at $13.25, with 4,000 units, Scotia Group gained $1.02 higher to $52, with 9,271 shares and Supreme Ventures ended 15 cents higher at $12, with 51,500 stock units. In the main market preference segment, JMMB Group concluded trading at $1.15, with 747,717 stock units, and Sagicor Bank B preference share traded 9,000 units at $1and in the US dollar market segment, Proven Investments closed with 102,838 units trading at 20 US cents after slipping3.5 US cents.
Prices of securities trading for the day are those at which the last trade took place.
JSE main market slips – Monday
Scotia Group dropped $3 to $46.
Trading on the Main and US dollar market of the Jamaica Stock Exchange ended with an almost even advance decline ratio resulting in the market indices slipping in a shortened trading session that commenced in the afternoon after the regular closing time had passed.
The volume of securities trading and the days last traded price are, Barita Investments that ended with a loss of 25 cents at $7.75, with 6,700 shares. Berger Paints concluded trading with a loss of 75 cents at $11.25, with 7,256 units, Cable & Wireless ended with a loss of 4 cents at $1, with 170,543 stocks changing hands, Carreras finished 50 cents higher at $11.50, with 464,114 units, Grace Kennedy finished $1.45 higher at $43.50, with 5,737 shares, Jamaica Broilers ended 50 cents higher at $17.50, with 39,878 stock units, Jamaica Producers concluded trading at $15, with 13,350 shares, JMMB Group finished 70 cents higher at $22.70, with 41,657 units, Kingston Properties finished at $7, with 2,000 shares, Kingston Wharves dropped $2.22 trading 18,341 shares to end at $28.51. Mayberry Investments traded with a loss of 50 cents at $4.10, with 2,138 units, 
NCB Financial fell 92 cents to $86.88 with 73,643 units changing hands. 1834 Investments ending at $1.40, with 93,917 stocks, PanJam Investment traded with a loss of 50 cents at $35, with 146,100 units, Portland JSX traded at $9.30, with 2,450 shares, Pulse Investments closed 9 cents higher at $1.80, with 7,701 stock units, Radio Jamaica closed at $1.12, with 49,263 units, Sagicor Group settled with a loss of 40 cents at $34, with 55,255 shares, Sagicor Real Estate Fund concluded trading 50 cents higher at $11.50, with 7,480 shares. Scotia Group dropped $3 to $46, with 44,994 stock units changing hands, Scotia Investments concluded trading 1 cents higher at $35.51, with 2,900 units, Supreme Ventures ended 9 cents higher at $11.09, with 699 shares.
In the main market preference segment, Jamaica Money Market Brokers 7.5% preference share traded at $2, with 232,000 units and JMMB Group 7.5% preference share closed at $1.19, with 503,100 shares.
In the US dollar market, Margaritaville traded just 100 units at 30 US cents, Productive Business Solution US ordinary shares lost 3 cents and closed at 62 US cents trading 750 units, Proven Investments US ordinary share closed at 23.99 US cents, after rising 1.99 US cents in exchanging 99,223 units.
570,000 Berger shares snapped up
Berger Paints traded 570,000 shares on Friday and closed at $12.
The JSE market indices rose on Friday as Scotia Group recovered some ground with 9 other stocks posting gains even as 11 fell in value.
At the close of market activity, Barita Investments closed with a loss of 15 cents at $8 with 323 units trading, Berger Paints added 75 cents to close at $12 with 572,833 shares changing hands, Cable and Wireless closed at $1.04, gaining 3 cents with 13,270 units, Caribbean Cement closed with a loss of 30 cents at $25.50 with 67,941 shares, Carreras gained 20 cents, and closed at $11 with 417,758 units, Grace Kennedy traded $1.45 lower, to $42.05 with 35,700 units. Jamaica Broilers advanced $1.25 to $17 exchanging 28,943 shares, Jamaica Producers declined by $1, closing at $15 with 6,650 units,
Jamaica Stock Exchange closed at $6.50 with 4,960 stock units, JMMB Group closed at $22, after falling $1 in trading 148,514 shares. Kingston Wharves with 100 units traded rose $1.23 to $30.73, Mayberry Investments lost 9 cents, closing at $4.60 with 31,800 shares, NCB Financial Group traded 70 cents lower to $87.80 with 90,395 shares, 1834 Investments lost 4 cents to close at $1.40 with 30,000 shares. PanJam Investment dropped $3.50 to $35.50 with 22,813 stock units, Pulse Investments closed at $1.71, gaining 6 cents with 126,500 shares, Radio Jamaica closed at $1.12 trading 72,310 shares, Sagicor Group gained 40 cents, and ended at $34.40 with 15,770 shares, Sagicor Real Estate Fund gained 39 cents, closing at $11 with 1,850 units, Scotia Group closed $2.90 higher at $49 while exchanging 58,409 shares, Scotia Investments fell $1.50, closing at $35.50 with 1,412 units, Seprod with gains of $1, ended at $34 with 1,000 units, Supreme Ventures closed at $11, having gained 15 cents with 50,150 shares changing hands. Productive Business Solution US ordinary shares closed at 65 US cents trading 1,920 units, Proven Investments US ordinary shares closed at 22 US cents, after losing 1.99 US cents in exchanging 241,067 units and JMMB Group 7.5% preference share closed traded at $1.19 with 171,913 units.
JSE suffers set back in forward move
JMMB Group inching higher on limited supply of stocks.
Large fall in the prices of are Caribbean Cement, Carreras and Scotia Group push the market down appreciably on Thursday and strong gains in PanJam Investment and JMMB Group could only dent the fall.
At the close of market activity, Berger Paints gained of 25 cents and closed at $11.25 with 148,982 shares, Cable and Wireless closed at $1.01, having lost 9 cents with 117,235 shares changing hands, Caribbean Cement with a loss of $2.20 at $25.80 with 30,123 shares, Carreras traded $1.20 lower to $10.80 with 1,217,220 shares, Ciboney Group exchanged 367,400 shares at 16 cents, Grace Kennedy gained 49 cents to settle at $43.50 with 11,300 units. Jamaica Producers advanced $1, to $16 in exchanging 34,495 shares, Jamaica Stock Exchange closed with gains of 5 cents, at $6.50 with 1,379 units, JMMB Group ended at a 52 weeks’ closing high of $23, after adding $1, trading 16,843 shares. Kingston Wharves traded at $29.50 with the exchange of 1,740 units, Mayberry Investments lost 1 cent, closing at $4.69 with 298,018 shares, NCB Financial traded 49 cents lower to $88.50 with 35,806 shares, 138 Student Living exchanged 20,000 shares at $4.75, 
while 1834 Investments gained 4 cents to close at $1.44 with trades of 6,520 units. PanJam Investment jumped $3.50 to $39 with 61,275 shares, Pulse Investments gained 23 cents to close at $1.65, with 12,581 shares, Radio Jamaica added 1 cent, in closing at $1.12 trading 305,416 shares, Sagicor Group closed with a loss of 52 cents at $34 with 4,550 units, Sagicor Real Estate Fund declined 39 cents in closing at $10.61 with 10,000 shares, Salada Foods traded 3,316 units at $8, Scotia Group plunged $4.90 to $46.10, in exchanging 117,999 shares, Scotia Investments closed at $37 with 30,453 shares, Seprod ended with a loss of $1 at $33 with 500 units, Supreme Ventures exchanged 131,400 shares at $10.85. Margaritaville Turks US ordinary shares closed at 30 US cents trading 5,500 units, Proven Investments US ordinary shares traded 13,000 units at 24 US cents, JMMB Group US 6% preference share closed at US$1.12 with 7,280 units and Proven 8.25% cumulative redeemable preference share lost 5 cents to close at $5.25 with 20,000 units.
Berger investors rebuffing Ansa offer
Berger Paints traded at a high as $11.55 on Tuesday.
The main market of the Jamaica Stock Exchange closed trading with 25 securities changed hands, with declining stocks just edging out advancing ones, while 3 stocks traded in the US dollar market.
The market closed with 9 stocks advancing and 11 declining based on the price the trade took place.
Some noted trades include Berger Paints that continues to trade above the price on $10.88 offered by Ansa Coatings to acquire the minority holdings. Investors continue to rebuff the offer by buying the stock at the close at $11 with 153,142 shares changing hands, up to $11.55 and a low of $10.85. The stock closed with a bid to buy 103,462 units at $11 and just 2,935 units offered at $11.70 and few shares offered close to this range.
Some other trades of note are Jamaica Producers 4 million unit trade with the price dropping nearly $1 and a $3.75 jump in the price of Seprod.
At the close of market activity, Barita Investments traded at $8.15, having lost 85 cents with 4,900 units, Cable and Wireless lost 3 cents to close at $1.05 with 18,708 shares, Caribbean Cement traded $2 lower to $28 with only 240 units, Carreras closed at record high of $11.50, gaining 25 cents with 223,703 shares trading, Grace Kennedy fell 99 cents and settled at $42.01 with 11,117 shares. Jamaica Broilers closed at $16.04, losing 86 cents with just 200 units, Jamaica Producers dropped 99 cents to $15.01 exchanging 4,075,641 shares, Jamaica Stock Exchange ended with a loss of 65 cents at $6.35 with 5,000 units, JMMB Group closed at $21 trading 14,000 shares. Kingston Properties closed at $7 with 598,296 shares changing hands, 
Kingston Wharves exchanged 1,500 units at $32, Mayberry Investments gained 20 cents, closing at $4.70 with 11,020 shares, NCB Financial Group traded 98 cents higher to $89.98 with 42,825 shares, 1834 Investments rose 10 cents and closed at $1.40 with 3,480 units. PanJam Investment gained $1.43, closing at $35.50 with 103,000 shares, Pulse Investments closed at $1.40, losing 30 cents with 58,680 shares trading, after the company released audited accounts showing lower profit in 2017 than in 2016, due mainly to the treatment of taxation. Sagicor Group closed with gains of 50 cents at $34.50 trading 8,700 shares, Sagicor Real Estate Fund closed at $11, after gaining 38 cents with 2,747 units, Salada Foods fell 50 cents, trading at $8 with 9,000 shares, Scotia Group closed $1 higher to $51 exchanging 147,026 shares, Seprod advanced $3.75 to $33 with 16,309 shares, Supreme Ventures closed 10 cents lower to $11 exchanging 145,884 shares. Productive Business Solution US ordinary share closed at 65 US cents trading 48,360 units, Proven Investments US ordinary share traded 27,635 units at 24 US cents, JMMB Group US 6% preference share exchanged 8,617 units at US$1.12, Jamaica Money Market Brokers 7.25% preference share closed at $2.50 with 650 units and JMMB Group 7.5% preference share lost 4 cents, closing at $1.15 with 100,000 units.
High price movements on Monday
NCBFG jumped $8.94 to $89 on Monday.
On a day of low trading activity 4 securities were dominant by movement in their prices on the main market of the Jamaica Stock Exchange as the market posted sizable gains in the indices.
Carreras rose 45 cents in closing at $11.25 with 205,850 shares after the 10 for 1 stock split, recently approved by shareholders. NCB Financial Group jumped $8.94 to $89 and Scotia Group recovered $4.95 of the loss on Friday to end at $50 and Caribbean Cement climbed $2.50 to $30.
At the close of market activity, Berger Paints slipped 50 cents to close at $11 with 60,411 shares, Cable and Wireless closed at $1.08, losing 2 cents with 146,795 stock units, Caribbean Cement advanced $2.50 to $30 with 2,000 units, Carreras rose 45 cents and closed at record high of $11.25 with 205,850 shares after the stock split, Ciboney Group lost 1 cent, trading 93,564 shares, closing at 16 cents, Grace Kennedy lost 50 cents and ended at $43 with 1,479 units. Jamaica Broilers gained 90 cents, closing at $16.90 with 42,927 shares, Jamaica Producers traded 205 units at $16, Jamaica Stock Exchange with gains of 65 cents, in closing at $7 with 1,370 units, JMMB Group closed at $21 exchanging 154,472 shares after trading as high as $23 in the morning session. Kingston Wharves ended with a loss of 40 cents at $32 with 3,142 units, Mayberry Investments gained 28 cents, in closing at $4.50 with 10,000 shares, NCB Financial Group traded $8.94 higher to $89 while exchanging 163,270 shares, 1834 Investments closed at $1.30 with 2,614,586 shares. 
PanJam Investment fell 43 cents, to close at $34.07 with 6,675 units, Pulse Investments closed at $1.70, losing 10 cents with 129,552 shares, Sagicor Group traded 29,148 stock units at $34, Sagicor Real Estate X Fund rose 2 cents, and closed at $10.62 with 3,000 units, Scotia Group closed $4.95 higher to $50 while exchanging 49,759 shares, Scotia Investments slipped 30 cents to $37 with 24,700 shares, Seprod exchanged 12,869 shares at $29.25 and Supreme Ventures closed 39 cents lower at $11.10 with 150,730 units. Productive Business Solution US ordinary shares closed at 65 US cents after gaining 5 cents trading 2,000 units, JMMB Group US 6% preference share traded 4,380 units at US$1.12, Jamaica Money Market Brokers 7.25% preference share closed at $2.50 with 13,600 units, Jamaica Money Market Brokers 7.5% preference share exchanged 645,775 units at $2 and Proven 8.25% cumulative redeemable preference share closed at $5.50 with 1,200 units.
Scotia drops $6.95 & NCB $10.19 – Friday
NCB $10.19 on Friday.
Stocks advancing on the Jamaica Stock Exchange were edged out 11 declining stocks 10 on Friday, but that did not prevent the All Jamaica Composite Index tumbling by a record 10,134.09 points as investors pushed down the prices of Scotia Group to $45.05 within 2 minutes of the close and NCB Financial to $80.06.
The sharp fall in the market on Friday does not appear to be an indication that the upward climb in the market has ended. The 6 to 2 positive Investor’s Choice bid-offer indicator suggests that the majority of prices could be rising on Monday.
At the close of market activity, Berger Paints gained of 50 cents, and closed at $11.50 with 28,241 shares, Cable and Wireless closed at $1.10, after falling 9 cents with 28,080 stock units changing hands, Caribbean Cement exchanged 7,900 units at $27.50, Carreras lost 3 cents and closed at $107.97 with 62,828 shares, Ciboney Group fell 3 cents trading 388,884 stock units at 17 cents, Grace Kennedy climbed $1.50 and ended at $43.50 with 6,005 units. Jamaica Broilers gained 25 cents, closing at $16 with 347,061 shares, Jamaica Producers traded $1 higher to $16 with 58,252 stock units, 
Jamaica Stock Exchange lost 16 cents to close at $6.35 with 536 units, JMMB Group with a loss of 20 cents, closed at $21 exchanging 147,249 shares. Kingston Properties exchanged 83,308 stock units at $7, Kingston Wharves climbed $1.55 to $32.40 with 13,777 shares, NCB Financial Group dropped a whopping $10.19, closing at $80.06 with 268,345 stock units, 1834 Investments ended with a loss of 4 cents at $1.30 with 2,384 units. PanJam Investment rose 65 cents and closed at $34.50 with 109,570 shares, Pulse Investments gained 10 cents, closing at $1.80 with 189,637 units, Radio Jamaica closed at $1.05, after gaining 1 cent with 2,039,632 shares, Sagicor Group traded 53 cents lower to $34 with 174,537 stock units, Sagicor Real Estate X Fund ended with a loss of 40 cents at $10.60 with 4,000 units, Scotia Group dropped $6.95 lower to $45.05 exchanging 306,497 shares, Sterling Investments gained 10 cents to close at $12 with 6,371 units and Supreme Ventures closed at $11.49 while gaining 69 cents with 24,710 shares changing ownership, Proven Investments US ordinary share closed at 23.99 US cents trading 219,700 units, Jamaica Money Market Brokers 7.5% preference share exchanged 4,369,225 units at $2, JMMB Group 7.5% preference share closed at $1.19 with 112 units and Sagicor Bank Jamaica Class A 7.75% cumulative redeemable preference share gained 5 cents to close at $1.05 with 50,000,000 units traded.
JSE trading dropped on Wednesday
Trading levels dropped sharply on the main market of the Jamaica Stock Exchange with 2 to 1 ratio to declining stocks on Wednesday but advancing stocks beat out declining ones more than 2 to 1.
Recent headliner Scotia Group traded up to $54 ahead of the results that were released after trading closed showing a reduction in profits for the third quarter.
At the close of the market, the volume of stocks changing hands and prices they last traded at are, Barita Investments closing at $9 with 100 units trading, Berger Paints ending with a loss of 50 cents, exchanging 25,657 shares to at $11, Cable and Wireless with a gain of 5 cents to $1.10 with 17,242 stock units. Carreras closed at $108 with 21,840 shares, Grace Kennedy ended at $42.05, gaining 5 cents with 21,302 shares. Jamaica Broilers shed 70 cents to $16.80, with 564,868 stock units, Jamaica Producers traded 25 cents higher to $15 with 124,041 shares, Jamaica Stock Exchange exchanged 126,810 shares at $6.49, while JMMB Group closed at $21.50, with gains of 50 cents trading 87,322 stock units. Kingston Properties closed at $7 with 1,325 shares, 
Kingston Wharves ended with a loss of 2 cents, at $30.48 with 700 units, Mayberry Investments closed at $4.80, gaining 30 cents with 168,080 shares, NCB Financial Group surged $2.45 to $90 with 9,494 units, 1834 Investments traded 230,583 units at $4.75. PanJam Investment with gains of 40 cents, closed at $34.25 with 103,619 shares, Portland JSX closed at $9.30 with 950 units, Pulse Investments fell 7 cents, to $1.75 with 31,081 shares, Radio Jamaica closed at $1.20 with 243,587 units, Sagicor Group added 20 cents to close at $33.25 with 28,717 shares, Sagicor Real Estate Fund closed at $11 with 5,150 units, Salada Foods ended with a loss of 50 cents, to close at $8 trading 1,500 shares, Scotia Group gained $1 to $54, in exchanging 58,264 stock units, Seprod advanced $1.25 to $29.25 with 750 units, Sterling Investments ended at $12 with 61,000 shares, Supreme Ventures added 10 cents to $11 with 358,560 shares. Proven Investments US ordinary shares exchanged 1,606 units at 23 US cents, JMMB Group 7.25% preference share closed at $1.50 with 361 units and JMMB Group 7.5% preference share traded 1,435 units at $1.19 after losing 1 cent.
Scotia drops $5 to $55
Scotia Group drops $5 on the JSE on Monday.
Stocks most fell at the close of trading on main market of the Jamaica Stock Exchange on Monday but with declining stocks outnumbered advancing ones after Scotia Group closed down $5 to $55 ahead of third quarter results this week.
The fall contributed by Scotia Group based on an average traded price of $55.52 was offset by average gains in the prices of JMMB Group and NCB Financial Group.
At the close of the market the volume of stocks changing hands and their last traded price are: Berger Paints that closed 65 cents lower to $11.50 with 49,098 shares, Cable and Wireless ending with a loss of 15 cents at $1.05 with 205,600 units, Caribbean Cement exchanged 2,850 stock units at $30, Carreras closed at $108 with 22,233 stocks trading, Grace Kennedy with a loss of 50 cents, closed at $41.50 with 950 shares. Jamaica Broilers closed at $17.20, trading 30 cents lower with 7,860 units, Jamaica Producers closed at $14.90, losing 10 cents with 2,105 shares, Jamaica Stock Exchange gained 21 cents to close at $6.49 exchanging 800,513 stocks, JMMB Group closed at $21.50 with 24,941 stock units. Kingston Wharves rose 30 cents to $30.80 with 7,420 shares, Mayberry Investments gained 4 cents to $4.50 with 16,200 stock units, NCB Financial Group traded 63,952 shares at $90,1834 Investmentslost 6 cents, closing at $1.34 with 50,496 units. 
PanJam Investment added 35 cents to close at $33.85 with 18,041 shares, Pulse Investments fell 3 cents to close at $1.82 with 7,245 units, Radio Jamaica closed at $1.20 after losing 5 cents in exchanging 350,693 shares. Sagicor Group traded 25 cents lower to $33 with 23,198 stock units, Sagicor Real Estate Fund advanced $1.45 to $12.05 with 639 stocks trading, Salada Foods traded 1,000 shares at $8.50, Scotia Group closed $5 lower to $55 with 59,365 stock units, Scotia Investments gained 30 cents to close at $37.30 with 1,830,050 shares, Seprod declined $1.90, closing at $28 with 560,300 stocks changing hands, Sterling Investments closed at $12 with 511,200 shares and Supreme Ventures ended with a loss of 20 cents at $10.80 with 106,855 units. Proven Investments US ordinary share gained 0.99 US cent to close at 23 US cents trading 15,750 units, Productive Business Solution US ordinary share closed at 60 US cents with 1,000 units exchanged, Jamaica Money Market Brokers 7.25% preference share lost 1 cent, closing at $2.50 with 2,272 units and Jamaica Money Market Brokers 7.5% preference share exchanged 1,500 units at $2.
Minority deserves better
SOS directors released June’s quarterly results even though the JSE rules require the first report to be relased for the September quarter.
The investing public seems not to be treated with the respect it deserves. It appears that many companies thing of investors last, not recognizing that they are shareholders just like the majority owners.
The last persons seen are the first to be remembered and is equivalent to out of sight out of mind. That seems to be the case with shareholders in the Caribbean. Newly listed Stationery & Office Supplies release of the June quarterly report although not required by the Jamaica Stock Exchange is an example of good corporate governance and is to be applauded.
In Trinidad for example, there is little liquidity in that market and the directors refuse to do anything about it. In Jamaica many companies tend to stick with the minimum regulations of the stock exchange, even when the recent examples in Jamaica say how important it is to ensure that there is adequate liquidity in the market.
The current regulation for listings in Jamaica, is for new listed companies to file their first quarterly report in the quarter ending after listing. The rule is inadequate to protect investors. Information is critical for the capital market to function properly, as such investors should not have to wait more than two quarters to get a quarterly report. In 2016, there was the very poor decision by Wentworth Graham the then head of the regulatory arm of the Jamaica Stock Exchange to permit 1834 Investments to wrongly withhold the December quarterly report from the public. This was based on improper interpretation of the rules relating to the release of financial information.
Main Event release their first report in June after their January IPO.
Earlier this year Main Event issued their IPO and included interim results to September 2016, with the year end of October. The IPO was in January but it was not until June that shareholders had information on the out turn of the operations for 2016 as well as for the first quarter this year. As it turned out, profit of $60 million at the 11 month period melted down to $56.5 million for the full year. The audited report was only signed on the June 5, more than 7 months after the year end while the first quarter results were never released but the second quarter to April was released within the deadline of June 15.
The management of Stationery & Office Supplies may have had a lot to shout about with pretax profit jumping 146 percent to $20.3 million for the June quarter this year and hence the release of the results to Jamaica Stock Exchange in less than a month of listing on the Junior Market.
Under the stock exchange rules it need not have put out the six months report having been listed in August. Some persons may see it as self interest in the release, but there is no evidence of that. The release provides the investing public with pertinent information in a timely manner, on which they can make their investment decisions. The hope is that the Jamaica Stock Exchange rules will be strengthened quickly to ensure that pertinent information is release on a timely basis to the public.