After two days of high volumes traded by Lasco Manufacturing and Lasco Distributors, the junior market closed with less than 600,000 shares trading, compared to 12 million shares on Thursday and 13 million units on Wednesday.
At the close of trading the junior market index rose 29.39 points to end at 3,061.54. The Jamaica Stock Exchange reports gains of just 7.21 after reporting that the market closed at 3,032.15 points on Thursday. Market activity ended with in 19 securities trading, down from 23 on Thursday as 4 stocks rose and 6 declined. A total of 554,250 units valued at $3,004,928 passed through the market, compared to 12,255,673 units valued at $75,283,381 on Thursday.
The junior market ended trading with an average of 29,171 units for an average value of $158,154 traded, compared to 532,855 units for an average value of $3,273,190 on the previous trading day. The average volume and value for the month to date ended at 163,591 units and $1,582,454.
On the immediate preceding trading day, the average volume and value for the month to date, were 171,993 units and $1,004,397. The average volume and value for February, ended at 223,938 units and $1,379,459.
Trading ended with only 3 stocks had bids higher than their last sale prices and 3 ended with lower offers, than the last sale.
At the close of the market on Friday, AMG Packaging closed at $5.69 with 24,829 units changing hands, Blue Power closed with 265 units changing hands at $36.50, Cargo Handlers ended trading with 150 shares at $21, Caribbean Cream closed trading with 10,000 units to end at $7.70, Caribbean Producers rose 2 cents in trading 31,033 units at $3.80, Consolidated Bakeries ended trading with a loss of 22 cents with 10,000 shares changing hands, to close at $3. Derrimon Trading lost 40 cents and ended at $8.60 with 16,083 shares changing hands, General Accident price declined by 1 cent to close trading with 29,000 shares at $3, Honey Bun gained 30 cents and closed with 21,323 shares changing hands at $6.50, 
ISP Finance had 4,584 units changing hands to close at $12.25, Jamaican Teas traded 32,302 shares and fell 65 cents to close at $7.85, Jetcon Corporation lost $1 and closed trading with 12,000 shares being exchanged, to end at $11, KLE Group ended at $3 with 40,416 shares changing hands, Lasco Distributors ended with 44,603 units trading at $7, Lasco Financial rose 20 cents with 14,682 shares changing hands, to end at $3.70, Lasco Manufacturing closed with 247,589 units changing hands at $5.08, Main Event closed at $4.51 with 3,000 shares changing hands, Paramount Trading had 11,471 shares changing hands, to close with a fall of 5 cents at $3.70 and tTech ended with 120 units changing hands at $7.01 after rising by a cent.
Volume dips for juniors – Friday
2 Big Lasco trades again – Thursday
Lasco’s ICool drinks.
At the close of trading the junior market index lost only 3.94 points to end at 3,032.15 following activities in 23 securities traded up from 21 on Wednesday and ended with 4 rising and 6 falling. A total of 12,255,673 units valued at $75,283,381 passed through the market, compared to 113,332,019 units valued at $70,867,178 on Wednesday.
The junior market ended trading with an average of 532,855 units for an average value of $3,273,190 traded, compared to 634,858 units for an average value of $3,374,628 on the previous trading day. The average volume and value for the month to date ended at 171,993 units and $1,004,397. On the immediate preceding trading day, the average volume and value for the month to date, were 147,935 units and $853,144.
The average volume and value for February, ended at 223,938 units and $1,379,459.Trading ended with only 4 stocks had bids higher than their last sale prices and 6 ended with lower offers, than the last sale.
At the close of the market on Thursday, AMG Packaging closed at $5.69 with 8,921 units changing hands, Blue Power closed with 500 units changing hands at $36.50 after falling $1.50, CAC 2000 closed at $7.80 with 13,421 shares traded. Cargo Handlers ended trading with 24,141 shares at $21, Caribbean Cream closed trading with 10,000 units to end at $7.70, Caribbean Producers lost 7 cents in trading 2,792 units at $3.78, Derrimon Trading rose by 40 cents and ended at a new high of $9 with 1,406 shares changing hands, Dolphin Cove lost $1 to close trading with 57,240 shares, at $18, General Accident price rose 1 cent to close trading with 1,000 shares at $3.01, Honey Bun lost 80 cents and closed with 10,000 shares changing hands at $6.20, Iron Rock Insurance traded 15,581 shares to end at $3.10 after falling 15 cents,
ISP Finance had 6,490 units changing hands to close at $12.25, Jamaican Teas traded 125,563 shares to close at $8.50, Jetcon Corporation closed trading with 18,629 shares being exchanged to end at $12, KLE Group ended at $3 with 6,000 shares changing hands after rising by 20 cents, Knutsford Express traded 598 units to close at $42, Lasco Distributors ended with 6,209,536 units trading at $7, Lasco Financial fell 69 cents with 9,462 shares changing hands, to end at $3.50, Lasco Manufacturing closed with 5,697,203 units changing hands at $5.08, Medical Disposables closed at $6 with 15,925 shares changing hands, Paramount Trading had 4,600 shares changing hands, to close with a rise of 20 cents at $3.75, tTech ended with 2,000 units changing hands at $7 and Derrimon Trading preference share ended with 14,665 units changing hands to close at $2.10.
2 Big Lasco trades on Wednesday
Lasco Manufacturing
At the close 21 securities traded up from 25 on Tuesday and ended with 6 rising and 4 falling. A total of 13,332,019 units valued at $70,867,178 passed through the market, compared to 1,269,002 units valued at $8,895,061 on Tuesday.
The junior market ended trading with an average of 634,858 units for an average value of $3,374,628 traded, compared to 50,760 units for an average value of $355,802 on the previous trading day. The average volume and value for the month to date ended at 147,935 units and $853,144.
On the immediate preceding trading day the average volume and value for the month to date, were 113,155 units with an average value of $673,038. The average volume and value for February, ended at 223,938 units and $1,379,459.Trading ended with 3 stocks had bids higher than their last sale prices and 4 ended with lower offers, than the last sale.
At the close of the market on Tuesday, AMG Packaging fell by 1 cent and closed at $5.69 with 66,575 units changing hands, Blue Power closed with 911 units changing hands at $38 after gaining $1.40, CAC 2000 closed at $7.80 with 6,579 shares traded. Cargo Handlers ended trading with 5,000 shares at $21, Caribbean Cream closed trading with 29,400 units to end at $7.70, Caribbean Producers lost 25 cents in trading 6,771 units at $.85, Consolidated Bakeries ended trading with a gain of 2 cents with 167,245 shares changing hands, to close at $3.22. Derrimon Trading rose by 10 cents and ended at a new high of $8.60 with 9,866 shares changing hands, Dolphin Cove regained 99 cents it lost on Tuesday, to closed trading with 1,450 shares, at $19, General Accident price fell 25 cents to close trading with 3,500 shares at $3, Honey Bun closed with 7,915 shares changing hands at $7, ISP Finance had 6,096 units changing hands to close at $12.25,
Jamaican Teas traded 10,160 shares to close at $8.50, Jetcon Corporation rose $1 and closed trading with 125,851 shares being exchanged to end at $12, Knutsford Express traded 1,173 units to close at $42, Lasco Distributors ended with 2,764,503 units trading at $7, Lasco Financial fell 5 cents with 3,258 shares changing hands, to end at $4.19, Lasco Manufacturing rose 38 cents and closed with 10,068,440 units changing hands at $5.08, Main Event had 43,992 shares changing hands, to close with a rise of 1 cent at $4.51, Medical Disposables closed at $6 with 11,000 shares changing hands, Sweet river traded just 1,000 shares at $3.50 and Derrimon Trading preference share ended with 1,200 units changing hands to close at $2.10.
More losses for juniors on Tuesday
Dolphin Cove fell 99 cents and closed at $18.01 on Tuesday .
At the close 25 securities traded up from 17 on Monday and ended with 9 rising and 7 falling. A total of 1,269,002 units valued at $8,895,061 passed through the market, compared to 227,531 units valued at $1,357,774 on Monday.
The junior market ended trading with an average of 50,760 units for an average value of $355,802 traded, compared to 13,384 units for an average value of $79,869 on the previous trading day. The average volume and value for the month to date ended at 113,155 units and $673,038. On the immediate preceding trading day the average volume and value for the month to date, were 117,955 units with an average value of $697,441. The average volume and value for February, ended at 223,938 units and $1,379,459.
Trading ended with 3 stocks had bids higher than their last sale prices and 3 ended with lower offers, than the last sale.At the close of the market on Tuesday, Access Financial ended trading at $34 with 5,300 units changing hands, AMG Packaging closed at $5.70 with 20,257 units changing hands, Blue Power closed with 150 units changing hands at $36.60 after falling 40 cents, CAC 2000 closed with a loss of 5 cents to end at $7.80 with 16,108 shares traded. Caribbean Cream closed trading with 1,800 units and lost 30 cents to end at $7.70, Caribbean Producers climbed 45 cents in trading 141,143 units at $4.10, Consolidated Bakeries ended trading with a gain of 20 cents with 22,000 shares changing hands, to close at $3.20. Derrimon Trading rose by 10 cents and ended at a new high of $8.60 with 9,866 shares changing hands, Dolphin Cove lost 99 cents and closed trading with 122,148 shares, at $18.01, General Accident closed trading with 67,000 shares at $3.25, Honey Bun closed with 16,849 shares changing hands to end at $7, ISP Finance had 13,189 units changing hands to close with a gain of 25 cents at a 52 weeks’ high $12.25,
Jetcon Corporation closed trading a rise of 90 cents with 1,700 shares being exchanged to end at $11, Knutsford Express traded 5,990 units but lost 50 cents to close at $42, Lasco Distributors ended with 6,399 units trading at $7 after gaining 20 cents, Lasco Financial gained 1 cent with 25,000 shares changing hands, to end at $4.24, Lasco Manufacturing closed with 110,927 units changing hands at $4.70, Main Event had 15,004 shares changing hands, to close with a fall of 10 cents at $4.50, Medical Disposables closed at $6 with 1,000 shares changing hands and Paramount Trading lost 15 cents and ended with 61,750 units changing hands at $3.55. Tech ended with 17,912 units changing hands at $7 after rising by 95 cents, Derrimon Trading preference share ended with 2,665 units changing hands to close at $2.10 and Eppley 9.5% preference share, traded 500,000 units at $6.04.
Fall for juniors on Monday
Trading on the junior market declined sharply on Monday with just over 200,000 shares trading. The junior market index suffered a loss of 12.40 at the close at 3041.96.
At the close 5 advanced and 8 declined, with 227,531 units valued at $1,357,774 passing through the market, compared to 1,296,408 units valued at $ $5,940,417 on Friday. Trading ended with 5 stocks had bids higher than their last sale prices and 5 ended with lower offers, than the last sale. The junior market ended trading with an average of just 13,384 units for an average value of $79,869 traded, compared to 99,724 units for an average value of $456,955 on the previous trading day. The average volume and value for the month to date ended at 117,955 units and $697,441. On the immediate preceding trading day the average volume and value for the month to date, were 126,669 units with 
an average value of $748,905. The average volume and value for February, ended at 223,938 units and $1,379,459.
At the close of the market on Tuesday, Access Financial added $1.19 to close off its recent lows, to end at $34 with 6,160 units changing hands, AMG Packaging closed at $5.70 with 22,250 units changing hands after trading at a high for the day of $27.60, Blue Power closed with 383 units changing hands at $37 after adding 50 cents, CAC 2000 closed with a loss of 15 cents to end at $7.85 with 12,266 shares traded. Caribbean Producers fell 5 cents in trading 30,000 units at $3.65, Derrimon Trading rose by 20 cents and ended at a new high of $8.50 with 4,634 shares changing hands, General Accident lost 5 cents and closed trading with 25,000 shares at $3.25, Honey Bun closed with 1,219 shares changing hands to end at $7, 
Iron Rock Insurance traded 110 shares to end at $3.25 after falling by 15 cents, ISP Finance had 3,591 units changing hands to close with a gain of 25 cents at $12. Jetcon Corporation closed trading sharply lower with a fall of $2.40 with 4,604 shares being exchanged to end at $10.10, Lasco Distributors ended with 6,053 units trading at $6.80 after declining 20 cents, Lasco Financial gained 23 cents with 10,492 shares changing hands, to end at $4.23, Lasco Manufacturing closed with loss of 20 cents as a mere 4,470 units changed hands at $4.70, Main Event had 80,817 shares changing hands, to close with a fall of 29 cents at $4.60, Medical Disposables closed at $6 with 12,182 shares changing hands and Paramount Trading ended with 3,300 units changing hands, to end at $3.70.
World oil prices tumble
World oil prices tumbled to trade around three-month lows on Monday, as rising U.S. inventories and drilling activity overtakes investors previous bet that OPEC’s efforts to restrict crude output would keep prices high for a long period.
Brent crude fell to a session low of $50.85, its lowest level since November last year while US West Texas Intermediate crude (WTI) to $48.34 a barrel. Reuters News stated that the price has fallen by more than 8 percent since last Monday, its biggest week-on-week drop in four months.
If prices hold at these levels it would mean lower imports for the Caribbean region and lower inflation for most countries within the region that are highly dependent on the imports of oil.
Jamaican motorists should enjoy a slight ease with new taxes being added to petrol at the pumps. With prices softening, Jamaica edging strategy needs reviewing as the price target for it around $70 a barrel is not on the radar anytime soon, barring some unusual negative development.
Jamaica stock price confusion
There was confusion on the Jamaica Stock Exchange on Friday with investors being left uncertain about the closing prices of some stocks. AMG Packaging should have been trading with the opening price at $4.87 with a maximum tradable price on that day of $6.33. The stock market traded platform showed that the stock traded at $11.03 and then at $18.03, with the latter being cancelled in the morning session only for it trade back at that level with the market closing, showing the price at $18.30, subsequently, all trades were cancelled. Jamaican Teas last traded at $6.45 cents but the JSE official price has the last trade at $5.60 while the trading platform showed Blue Power last trading at $26 but the official price was $43.70.
tTech, one of ICI Insider.com top selections for 2017.
Insider trade for tTech
Trading in stocks by persons closely connected with the management may be sending signal as to future prospects. Of course that is not always the case. tTech stock price enjoyed major gains of 164 percent, since listing last year January at an IPO price of $2.50. With such gains, when a director buys a reasonable volume around $6.60, the investing public may need to take keen note. Last week the company advised that a Director purchased 200,000 units of its shares on March 8, 2017.
3 all-time highs for IC TOP 10 stocks
Berger closed at a new all-time high on Friday
The prices of several stocks listed on the Jamaica Stock Exchange underwent some sharp adjustments in the past week, and especially so on Friday, the day after government disclosed revenues measures for the 2018 fiscal year.
Nothing was disclosed to send negative signals to investors, apart from some slight increase in inflation to be caused by increased taxes on a number of items, which could be partially offset by the rise in the tax threshold for individual taxpayers. If any thing the budget sends a strong message that the next twelve months should be highly positive for investments in stocks and real estate with increased fiscal surplus that have to be generated to meet the 7 percent primary surplus, that will have some deflationary impact and lead to lower interest rates near term. While the tax on cigarettes may initially be considered negative for Carreras the increase will allow the company to garner increased revenues to cover the tax and help boost profits.
The TOP 10 junior and main market stocks saw only a few movements in and out during the past week. A number of the stocks in the list hit new highs during the week. The price of ISP Finance hit a new high of $11.50 as some supply came to the market. With limited supply and the potential for strong growth in profits the stock looks like a candidate for as split before too long. Berger Paints and Pulse Investments climbed sharply to new highs, with the former trading as high as $15 during the week but settled back at $14, up from $11.51 at the close of the previous week. Pulse Investments closed the week at $8.55 and could go higher based on the limited supply on offer at $10.
The markets continue to consolidate while awaiting early signals from 2017 first quarter results. With the TOP stocks valued well below the average of the markets’ PE ratio and at a large discount to the valuation based on 2016 earnings, around 20 times, the Top 10 stocks should continue to record gains once the bull market remains intact.
In the junior market, Dolphin Cove and Jetcon Corporation returns to the top list after exiting, at the close of the previous week and with the latter falling sharply in price to close at $11.03. The two replaced Lasco Manufacturing and AMG Packaging, two that entered in the past week. These stocks are still within striking distance for the top tier listing but market activity in the coming week could change all of that.
In the main market of the Jamaica Broilersreported strong gains in its third quarter profits and should encourage investors to bid the stock up, during the week and Berger Paints seems set to move out of the list by the close of the week and Caribbean Cream and Dolphin Cove could move out of the top list during the week.
Juniors fall on Thursday
Main Event hits new high of $5.10.
Trading ended with 1,482,096 units valued at over $12,049,960 passing through the market, compared to 1,492,475 units valued at over $9,844,241 on Thursday. At the close 5 stocks had bids higher than their last sale prices and 2 ended with lower offers, than the last sale.
The junior market ended trading with an average of 74,105 units for an average value of $602,498 traded, compared to 64,890 units for an average value of $428,010 on the previous trading day. The average volume and value for the month to date ended at 109,514 units and $744,840.
On the immediate preceding trading day, the average volume and value for the month to date, were 116,596 units with an average value of $773,309. The average volume and value for February, ended at 223,938 units and $1,379,459.At the close of the market on Friday, AMG Packaging closed at $24 after falling 40 cents with 2,158 units changing hands, on the day before the 5 for 1 stock split is to be effected in trading. Caribbean Cream closed trading with 671,501 units and gained 9 cents to close at $8.09, Caribbean Producers rose 30 cents in trading 6,400 units $4.30, Consolidated Bakeries ended trading with a loss of 15 cents with 300 shares changing hands, to close at $2.50 after trading at $2 during the trading session, as the price adjust to the disappointed 2016 results. C2W Music had 5,000 units changing hands to close with a loss of 2 cents at 33 cents, Derrimon Trading ended at $8 with 31,030 shares changing hands, Dolphin Cove dropped $1.75 and closed trading with 107,000 shares, to end at $16. General Accident closed trading with 9,500 shares at $3.30, Honey Bun gained 70 cents with 16,649 shares changing hands to end at $6.50, ISP Finance had 28,000 units changing hands to close with a loss of 30 cents at $11, Jamaican Teas shed 70 cents and ended trading 35,485 shares to close at $7.30. Jetcon Corporation closed trading with 145,125 shares being exchanged for gain of 50 cents to end at $13,
KLE Group added 44 cents and ended trading 886 units, to close at $2.90, Lasco Distributors ended with 6,085 units trading at $6.70, Lasco Financial fell 16 cents with 148,000 shares changing hands, to end at $4.50. Lasco Manufacturing closed with loss of 20 cents as 182,496 units changed hands at $4.70, Main Event had 67,852 shares changing hands, to close with a gain of 10 cents at a 52 weeks’ closing high of $5.10, Medical Disposables rose 14 cents to close at $6.50 with 3,719 shares changing hands. Paramount Trading ended with 14,300 shares changing hands and lost 5 cents to $3.75 and tTech ended with 610 units changing hands as the price rose 40 cents to end at $6.50.
The TOP 10 no brainer investing
Caribbean Cement highly rated in TOP 10
Investors would be well advised to leave emotions out of investment decision making and get and stick to facts. Investors who bought Jamaica Stock Exchange at $14 now and now seeing it trading at $7 after just a few weeks, can attest to that. Even investors at current prices may find that the price could fall further when the company post its first quarter results. Those results will not enjoy the big income generated in the first quarter of 2016, estimated at $110 million, from the transfer of the shares in Desnoes and Geddes and should result in a big fall in profit for the 2017 quarter.
Investors also pushed Jamaica Producers to dizzying heights, only to see a marked decline in the share price after, from $22 down to the $16 level and may have cause to worry with 2016 earnings from continuing operations not supporting the high valuation placed on it.The market appears to be consolidating with a number of 2016 results not sending strong buy signals currently.
Prices of Access Finance, Dolphin Cove and Jetcon Corporation rose during the past week and exited the IC Insider.com’s Top 10 junior market list. These stocks are still within striking distance for the top tier listing but market activity in the coming week could change all of that.
Jetcon rose 22 percent during the week and 522 percent since it was listed in March last year. Entering the top list are Lasco Distributors, the expectations are that the company will benefit from the claim for damages, with much of the funds retained for income generation purposes,Lasco Manufacturing and AMG Packaging as the prices of all three slipped during the week. AMG Packaging approved 5 for 1 stock split, is to be effected on March 10, after much delay.
In the main market of teh Jamaica Stock Exchange, Cable & Wireless reported larger losses than expected in the nine months to December, as a result IC Insider.com revised the forecast for 2017 down to just 10 cents on the assumption of continued strong growth in revenues. The stock fell out of the top list as a result of the earnings down grade. The move by Cable & Wireless let Jamaica Broilers into the list with the stock prices falling to $14.54 on Friday.
Juniors fall as 11 stocks decline – Friday
Blue Power suffered large fall in price on Friday.
At the close, 23 securities changed hands, 8 advanced and 11 declined. Trading ended with 7,883,509 units valued at over $48,696,373 passing through the market, compared to 1,357,950 units valued at over $10,370,371 on Thursday. At the close 7 stocks had bids higher than their last sale prices and 2 ended with lower offers, than the last sale.
The junior market ended trading with an average of 342,761 units for an average value of $2,117,234 traded, compared to 54,318 units for an average value of $414,815 on the previous trading day. The average volume and value for the month to date ended at 198,540 units and $1,266,024.
The average volume and value for February, ended at 223,938 units and $1,379,459.At the close of the market on Friday, AMG Packaging closed at $22 after falling $3 with 2,367 units changing hands. After a long delay, AMG’s approved 5 for 1 stock split is to be effected on March 10 the company reported. Blue Power dropped sharply by a huge $7.30 and closed with 4,817 units changing hands at $47.70, CAC 2000 traded 8,544 shares at $7.50, after rising 50 cents, Cargo Handlers shed $2 in trading 1,325 shares and closed at $25, Caribbean Cream closed trading with 4,352 units to close at $8.09, after rising 9 cents. Caribbean Producers fell 15 cents in trading 821 units $3.60, Consolidated Bakeries ended trading with a loss of 90 cents with 42,298 shares changing hands, to close at $3.10, the fall comes as the company reported earnings of just 5 cents for the 2016 fiscal year, down from 13.5 cents at September last year. Derrimon Trading ended at a 52 weeks’ high of $7.56 with 10,000 shares changing hands, after rising by 6 cents, Dolphin Cove rose $1 and closed trading with 88,264 shares, to end at $19. General Accident fell 30 cents to close with 14,695 shares at $3.20, Honey Bun had 15,299 shares changing hands to end at $7.60, Jamaican Teas gained 20 cents and ended trading 14,406 shares to close at $8.50. Jetcon Corporation closed trading with 67,324 shares being exchanged for gain of $1 to end at $14, KLE Group fell 2 cents and ended trading 4,739 units, to close at $2.88,
Lasco Distributors ended with 32,000 units trading with a fall of 30 cents at $6.50, Lasco Financial fell 10 cents with 62,563 shares changing hands, to end at $4.50. Lasco Manufacturing closed with gain of 9 cents as 32,106 units changed hands at $4.59, Main Event had 17,862 shares changing hands, to close with a gain of 15 cents at a 52 weeks’ closing high of $5, Medical Disposables lost 15 cents to close at $6.70 with 1,000 shares changing hands. Paramount Trading ended with 216,357 shares changing hands and rose 34 cents to $3.79, tTech ended with 95,774 units changing hands at $6.50, Eppley 9.5% preference share closed trading with 333,200 units changing hands at $6 and Eppley 8.25% preference share closed trading with 6,813,396 units at $6.
