Big drop for JSE US Dollar market


The Jamaica Stock Exchange US Dollar market dropped nearly 7 percent on Wednesday, with no stock recording a price rise, four falling and five ending unchanged, with the volume of stocks traded falling moderately, with a 25 percent lower value than on Tuesday, resulting in an exchange of nine securities, down from 10 on Tuesday.

The market closed with an exchange of 1,108,531 shares worth US$101,391 compared to 1,129,940 stock units at US$134,480 on Tuesday.
Trading averaged 123,170 shares at US$11,266, up from 112,994 stocks at US$13,448 on Tuesday, with a month to date average of 83,678 units at US$7,895 in line with 80,812 stocks at US$7,651 on the previous day and February that ended with an average of 115,433 units for US$5,430.
The US Denominated Equities Index sank 15.33 points to 215.22. The Investor’s Choice bid-offer indicator shows one stock ending with the bid higher than the last selling price and one with a lower offer.
The PE Ratio, one of the best known measures to determine appropriate stock values, averages 10.4. The PE ratio is calculated based on last traded prices divided by projected earnings, computed by ICInsider.com for companies with financial year ending around August 2025.
At the close of the market, AS Bryden shed 3.9 cents to close at 16.5 US cents with investors dealing in 3,958 shares, Productive Business Solutions remained at US$1.45 with a transfer of 6 stocks, Proven Investments lost 1 cent to finish at 9 US cents as investors exchanged 648,165 shares. Sterling Investments ended at 1.87 US cents after a transfer of 50,000 stock units, Sygnus Credit Investments ended at 7 US cents with 11,346 shares clearing the market, Sygnus Real Estate Finance USD share ended at 7.94 US cents with an exchange of 1,209 stocks and Transjamaican Highway slipped 0.33 of a cent to 2.37 US cents with 377,725 units crossing the market.
In the preference segment, JMMB Group 7.5% preferred share slipped 1 cent and ended at US$2 with investors swapping 13,646 stock units and JMMB Group US8.5% preference share ended at US$1.03 after an exchange of 2,476 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

AS Bryden’s CPJ holdings now over 75%


AS Bryden and Sons Holdings acquired another 30.4 percent amounting to 334.3 million shares of Caribbean Producers with the trade taking place on Friday over the Jamaica Stock Exchange Main Market. The acquisition takes the group’s holding to 75.3 percent a release from the Trinidad company confirmed to the Jamaica Stock Exchange.

The selling shareholders are Sportswear Producers Limited with 168,722,866 shares or 15.3384 percent of the CPJ issued capital, Thomas Tyler with 82,830,563 with 7.5301 percent and Wave Trading Limited with 82,755,239 shares with 7.5232 percent. ASB swapped 94.87 million of their shares to the CPJ sellers.

In Main Market activity on Friday, Caribbean Producers led trading with 334.34 million shares valued at $2.6914 billion, which includes the above shares at a value of $2.691 billion.
The acquisition now triggers a mandatory takeover offer that will be made within 30 days, , but they intend to keep the company listed, AS Bryden and Sons Holdings stated in the release.

JSE Markets slipped on Thursday

All three markets of the Jamaica Stock Exchange declined moderately at the close of trading on Thursday following a fall in the number and value of traded shares dropped compared to Wednesday’s trading.
At the close of trading, the JSE Combined Market Index dropped 994.07 points to 334,761.41, the All Jamaican Composite Index shed 1,879.32 points to 357,059.58. The JSE Main Index shed 971.08 points to end at 322,099.07, the Junior Market Index declined 9.51 points to 3,731.89 and the JSE USD Market Index slipped 1.27 points to end at 241.06.
At the close of trading, 17,340,719 shares were exchanged in all three markets, down from 26,660,691 units on Wednesday, with the value of stocks traded on the Junior and Main markets amounted to $109.09 million, down from $154.59 million on Wednesday and the JSE USD market closed with an exchange of 156,654 shares for US$16,462 compared to 664,963 units at US$18,341 on Wednesday.
Main Market trading was dominated by Wigton Windfarm led trading with 3.55 million shares followed by Transjamaican Highway with 2.04 million units and GraceKennedy with 687,786 units
In the Junior Market, Future Energy led trading with 2.23 million shares, followed by Derrimon Trading with 888,112 units and Jamaican Teas with 641,782 units.
At the close of the market, some of the major Main Market stocks that rose are AS Bryden climbed $1 to end at $43, Caribbean Cement popped $3.74 to $55, Eppley Caribbean Property Fund rallied $2.49 and ended at $40, Guardian Holdings advanced $20 and ended at $389, Jamaica Producers gained $1 to end at $27 and Seprod increased $2.70 to close at $85.70.
The major declining Main Market stocks include Pan Jamaica skidded $3.95 to $45.55, Sagicor Group fell 99 cents to end at $42 and Scotia Group dropped $2.34 in closing at $39.06.
Trading ended in the Junior Market, with only moderate price changes.
In the preference segment, Jamaica Public Service 9.5% declined $50 to close at $2,850.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 21.4 on 2022-23 earnings and 13.9 times those for 2023-24 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons between the same sector companies and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
Investors need pertinent information to navigate numerous investment options successfully in the stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational decisions when investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and place them on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The net asset value of each company is reported as a guide to quickly assess the value of stocks based on this measure. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends paid or payable and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume pertaining to the highest bid and the lowest offer for each company.

Ciboney gains 107% & Transjamaican 93% for 2023

It was not a great year for Jamaican stocks in 2023, with all three Jamaica Stock Exchange markets declining, with the Main Market dropping 9 percent, marginally below the 10.2 percent fall in the JSE Index in 2022. The Junior Market slipped 2.5 percent for the year compared to a 16.3 percent gain in 2022 while the USD market fell 1.2 percent compared with a 14 percent rise in 2022. Main market stocks were helped considerably by the market recovering 6.5 percent since early December with the market closing with a bullish tone.
Ciboney was the Jamaica Stock Exchange best performing stock for 2023 in the Main Market with gains of 107 percent, followed by Transjamaican Highway, with an outstanding performance, ending the year up 93 percent and paid a dividend of 18.7 cents for an overall return to investors from the start of the year of 106 percent. The next best performing stock was AS Bryden, the Trinidad based, majority Jamaican ownership, up by 47 percent from the listed price of $22.50 in November. Buoyed by improved results for the fiscal year 2023 and the first quarter profit results to September, Wisynco Group gained 22 percent and Stanley Motta 14 percent followed by the Trinidad based Massy Holdings up 13 percent, in a year when only 13 stocks posted gains in the main market.
Losing stocks were plentiful during the year, with 38 or 78 percent decline in the Main Market.
The worst performing stock was the real estate development company, First Rock Real Estate Investments with a 46 percent decline, followed by Palace Amusement down 44 percent, Guardian Holdings sinking 39 percent, Jamaica Stock Exchange and Berger Paints both losing 37 percent, followed by Pulse Investments down 34 percent and Key Insurance with a fall of 32 percent.