New JSE record on limited volume

Trading levels rose on the Main Market of the Jamaica Stock Exchange on Monday but remained moderate with an average of only 156,653 units valued at $3,187,757 for each security trading.
At the close of trading, 23 securities changed hands, resulting in 6,877,671 units valued at $68,979,399 trading, up sharply from the 2,507,681 units valued at only $38,468,870 on Friday.
The main market closed with 9 securities rising, 7 declining and 7 trading firm, leading to the JSE All Jamaican Composite Index increasing by 1,415.92 points to end at a record close of 327,594.70 and the JSE Index rising 1,290.06 points to a new closing record of 298,475.80.
In market activity, Barita Investments closed at $9.50, with 33,268 shares, Berger Paints rose 10 cents and ended at $19.10, with 4,237 stock units, Carreras concluded trading at $10.90, with 1,171,484 units, Caribbean Cement finished at $36.50, with 64,512 shares, Grace Kennedy rose 65 cents and ended trading at $49.65, with 6,186 shares. Jamaica Broilers rose 45 cents to $20.50, with 570,105 stock units, Jamaica Producers ended with a rise of 99 cents at $16.99, with 12,676 units, Jamaica Stock Exchange rose 2 cents and closed at $6.52, with 2,350 shares, JMMB Group lost $1.10 to closed at $27.22, as some selling came into the market for the stock, and ended with 1,208,947 shares changing hands. Kingston Wharves lost 5 cents and finished at $49.95, with 2,471 stock units after it traded at an intraday high of $51, Mayberry Investments settled at $6.05, with 20,200 units, NCB Financial Group rose $1 and ended trading at $97, with 76,990 shares, 1834 Investments lost 5 cents, to end at $1.15, trading 18,055 shares. PanJam Investment rose $1.45 to $44.45 trading 2,522 stock units, Sagicor Group settled at $36.85, with 15,203 shares and Sagicor Real Estate Fund gained 99 cents to end at $15, with 6,365 shares. Scotia Group climbed $1.34 to $51.50, with 30,645 units, Seprod finished trading at $33.01, with 427 shares, Supreme Ventures fell 5 cents and ended at $11.70, with 36,109 shares, Victoria Mutual Investments concluded trading at $4.21, after slipping 4 cents with 218,181 stock units, Wisynco Group fell 9 cents and finished at $10.90, with 95,232 units. In the main market preference segment, Jamaica Money Market 7.25% ended trading at $2.55, with 500 shares and Jamaica Money Market 7.5% traded at $1.92, with 6,364 stock units, changing hands.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “JSE main market hits new record – Monday.”

Good news push TOP 10 stocks

There were no new entrants this past week, to the TOP 10 list of stocks on the Jamaican Stock Exchange, but there was some good news with the acquisition by Stationery and Office Supplies of a book making business.
The acquisition is set to add to profit in year one, and investors responded by driving the stock to a new high. The stock that was facing some challenge to get bids around the $5.50 level, the stock traded at in the past few weeks, jumped to $6 on the same day the announcement was made. With annual sales estimated around $130 million that could rise with greater focus on the operations and more capital available to support it, IC Insder.com has up graded the earnings to 90 cents for this year. The company is one of a number of Junior Market listings expected to post positive gains in the 2018 first quart over that of 2017.
The other good news for the market was a further fall in Treasury bill rates and another month of slightly negative inflation for March with the first quarter inflation also being negative. While the main market hit two new record highs during the week. While the JSE main market is caught up in a wedge formation and waiting for a big break out which could happen any time, the Junior Market that was in a downward drift from late 2017 now seems to have support from the 200 day and 120 day moving averages with the short term moving average now above both longer term ones. The market is being steered by two support lines with one going back to 2010 and another going back to early 2014.
Investors pressured recently listed Elite Diagnostic during the week as they reacted negatively to the December quarter results with lower profit that the previous year’s results. Investors seemed to have responded the Berger Paints bullish reading in the annual report as they bought the stock in increasing volumes during the week, leaving the price at $19. The Managing Director had reported that “the outlook for 2018 and beyond is extremely positive. The Berger brand remains strong and continues to dominate the local market with strong brand equity and a reputation for quality. With GDP projected to grow by at least 1.5% in 2018, construction activity and the demand for coatings is expected to remain relatively strong for the next two to three years. Plans are already being implemented to expand the company’s local distribution and product range as well as to improve our level of customer service and responsiveness. In 2018, there will also be greater emphasis on building out exports by targeting new markets in Central America and the Greater CARICOM region.”
Palace Amusement continues to enjoy expanded interest from investors with the continued success of the movie Black Panther. After more than two months of showing it still has two showings per day in all three cinemas, but the attraction for the stock is much more than this movie.
Strong buying came in for Barita Investments at $9.50 during the week. JMMB Group gained more ground, as the block out period for insiders to trade in the stock closes and the stock moved up to $28.32, resistance is just over $31 an area investors should be on the lookout for in the short run.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 6 compared to an average PE for the overall main market of 10 based on 2018 estimated earnings. The main market PE remains at 7 for the top stocks, compared to a market average of 12.7.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 40 percent to the average for the Junior Market Top stocks but it’s a third of what the average PE for the year is likely to be of 20 times earnings and main market stocks traded at a discount of 42 percent to the market.

Berger directors failed to accept Ansa offer

Berger Paints annual report had some good news for investors to digest.

Berger Paints Jamaica (BRG) directors, used a number of unsupported information in highly recommending acceptance by minority shareholder of an offer by ANSA Coatings International to acquire their holdings last year.
The minority shareholders rightly ignored the directors recommendations in rebuffing the offer of $10.88 per share with just over 6 million units out of 105 million were surrendered. The stock now trades at $19 back to the level it traded at before the offer was made.
The directors’ circular apart from highly recommending acceptance of the offer, based on what they must have considered to be a fair price following PriceWaterhouseCoopers Tax and Advisory Services

” fair value assessment of the price among other factors. The recommendation went on to say that directors Michael Fennell, Warren McDonald and Milton Samuda along with employees Huron Gordon, Gladys Miller and Jacqueline Warren-Wilson intend to accept the offer. No intention was telegraphed by director Pokar Chandiram who subsequently passed on.
After the closing of the offer, a notice posted on the Jamaica stock Exchange website on October 26, 2017, reported that “Berger Paints Jamaica has advised that a Director and a Senior Manager sold a total of 437,895 BRG shares in response to the take-over bid offer by ANSA Coatings International, during the period the Offer was open and at the Offer price.”

Andy Mahadeo, the Managing Director

The amounts mentioned above represent shares held by McDonald and Miller. The annual report for December 2017 was revealing, as it still had all directors’ shares listed in their own names or that of their connected parties. Only Gladys Miller is shown as having disposed of her shares.
In their opinion they said,” in your directors view, it is highly likely that acceptance of the offer will take the aggregate holdings of ACI beyond 80 percent, in fact the Offeror had made it clear of its intention to delist the Berger shares if it acquires 29% or more of the shares.” “It is therefore clear that Berger Jamaica shares will in all probability be delisted from the JSE.” The directors offer no information from coming to such a conclusion.
The latest information, clearly does not sit well with the strong recommendations made to shareholders to accept the offer. IC Insider.com was advised that the registrar never received the acceptance documents within the time frame required to accept the offer and the matter only surfaced when enquiries were made about nonpayment for the shares. Some directors are adamant that they accepted the offer by submitting the acceptance form. IC Insider.com has been unable to determine where those applications went, suffice to say that they never got to the right place to effect acceptance. Up to Monday this week the shares were not transferred and were still in the names of the directors. With the offer having been closed those shares can no longer be a part of the offer and any disposal would have to be on different terms than that offered in 2017 with the stock now trading at $19. At any rate the notice from Berger to the exchange only mentioned one director with no mention of the others. This matter along with the poor judgement in advising shareholders about acceptance again raises questions as to the suitability of the directors to protect the interest of minorities.

Kingston Wharves pushes JSE to new record.

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Kingston Wharves jumped $5 to a record close at $50 on Friday.

Kingston Wharves jumped $5 and ended at a record high of $50 on modest volume and helped to push the market to new highs on Friday. On Tuesday, the price jumped $5, to the then new high of $45.
Scarcity seems the main factor behind the sharp rally in so short a time frame with 94 percent of the 1.347 billion shares held by the top 10 shareholders. Kingston Wharves close trading with the bid to buy 1,400 units at $50 and no stock being offered. This stock is ideal for a split with more than the relatively high price and limited supply.
Trading levels rose on the Main Market of the Jamaica Stock Exchange on Friday but remained moderate with an average of only 264,526 shares valued at $2,653,054 each trading.
At the close 26 securities changed hands, resulting in 6,877,671 units valued at $68,979,399 trading compared to 2,507,681 units valued at $38,468,870 on Thursday.
The main market closed with 9 securities rising, 9 declining and 8 trading firm, leading to the JSE All Jamaican Composite Index increasing by 1,200.80 points to end at a record close of 326,178.78 and the JSE Index rising 1,094.07 points to a new closing record of 297,185.74.
In market activity, Barita Investments closed at $9.50, with 100,889 shares, Berger Paints ended at $19, with 101,218 stock units, Carreras concluded trading at $10.90, with 214,871 units, Caribbean Cement finished at $36.50, with 28,334 shares, Ciboney Group rose 1 cents and settled at 13 cents, trading 3,042,400 shares. Grace Kennedy ended trading at $49, with 17,235 shares, Jamaica Broilers fell 40 cents to close at $20.05, trading 4,327 stock units, Jamaica Producers climbed 90 cents and finished trading at $16, with 1,958,288 units, Jamaica Stock Exchange fell 48 cents and closed at $6.50, with 30,000 shares. JMMB Group ended at $28.32, after gaining 32 cents with 181,452 shares trading, Kingston Wharves jumped $5 and finished at $50, with an exchange of 3,200 stock units, Mayberry Investments settled with a gain of 5 cents at $6.05, with 72,493 units, NCB Financial Group fell 25 cents and ended trading at $96, with 79,768 shares. 1834 Investments traded with a gain of 13 cents at $1.20, with 128,014 shares, PanJam Investment climbed 60 cents and closed at $43, with 55,875 stock units, Pulse Investments concluded trading at $1.80, with 59,400 shares, Radio Jamaica rose 5 cents finished at $1.10, with 251,100 shares. Sagicor Group settled dropped 65 cents and landed at $36.85, with 14,377 shares and Sagicor Real Estate Fund lost 99 cents to settled at $14.01, with 3,000 shares changing hands. Salada Foods fell 5 cents to $11.15, with 400 stock units, Scotia Group lost $1.84 to $50.16, with 187,520 units trading, Seprod finished trading with a loss of 99 cents at $33.01, after trading 942 shares. Sterling Investments closed at $13.89, with 1,000 shares, Supreme Ventures ended at $11.75, with 19,400 shares, Victoria Mutual Investments concluded trading at $4.25, with a loss of 13 cents in exchanging 38,035 stock units and Wisynco Group rose 49 cents and finished at $10.99, with 284,133 units changing hands.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “New record close for JSE – Friday.”

JSE volume jumps value falls – Thursday

Trading volumes rose but the total sum traded declined on the Main Market of the Jamaica Stock Exchange on Thursday with 4,971,238 units valued at $81,421,271 changing hands compared to 3,313,428 units valued at $132,584,977 on Wednesday.
The main market closed with just 23 securities changing hands, of which 16 rose, 4 declined and 3 traded firm leading to the JSE All Jamaican Composite Index surged 2,036.04 points to 324,977.98 and the JSE Index jumped 1,855.07 points to 296,091.67.
In market activity, Barita Investments closed at $9.50, with 2,000 shares trading, Berger Paints fell 22 cents and ended at $19, with 78,805 stock units, Carreras concluded trading at $10.90, with 363,060 units, Caribbean Cement finished at $36.50, with 18,529 shares, Ciboney Group rose 1 cent to close at 12 cents, with 290,000 shares. Grace Kennedy gained 51 cents and ended trading at $49, with 17,135 shares, Jamaica Broilers traded 18,625 units and gained 25 cents to close at $20.45, Jamaica Producers finished trading at $15.10, with 36,245 units but lost 60 cents in the process, Jamaica Stock Exchange closed at $6.98, with 5,500 shares. JMMB Group ended at $28, with 204,808 shares, Kingston Wharves finished at $45, trading 27,949 stock units, Mayberry Investments settled at $6, with 78,629 units, NCB Financial Group rose by 26 cents and ended trading at $96.25, with 97,448 shares. PanJam Investment lost 60 cents and closed at $42, with 5,000 stock units, Radio Jamaica finished with a fall of 5 cents at $1.05, exchanging 50,000 shares. Sagicor Group settled at $37.50, with 28,720 shares and Sagicor Real Estate Fund climbed 50 cents to $15, with 10,344 shares. Scotia Group traded at $52, trading 9,220 units, Seprod finished trading at $34, with 3,735 shares, Supreme Ventures ended at $11.75, with a rise of 5 cents, trading 532,107 shares, Victoria Mutual Investments gained 13 cents and concluded trading at $4.38, with 124,747 stock units and Wisynco Group finished trading at $10.50, with 477,649 units changing hands.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “Big gains for JSE stocks again – Thursday.”

Big gains for JSE majors – Wednesday

Kingston Wharves jumped $5 to a record close at $45 on Wenesday.

There was just modest volume trading on the Jamaica Stock Exchange main market on Wednesday with the JSE All Jamaican Composite Index jumped 2,508.77 points to 322,941.94 and the JSE Index climbed 2,285.77 points to 294,236.60.
At the close, 24 securities traded, compared to 25 on Tuesday and ended with the prices of 16 stocks rising, 4 falling and 4 trading firm, in the main and US dollar markets.
At the close of trading Berger Paints jumped $1.02 to $19.22, Kingston Wharves jumped $4 to record closing high of $45, NCB Financial rose 98 cents to $05.99, PanJam Investment climbed $1.25 to $43, Scotia Group rose $1.03 to $52 and Seprod was up 99 cents to $34.
Main market activity ended with 4,971,238 units valued at $81,421,271 changing hands compared to 3,313,428 units valued at $132,584,977 on Tuesday. At the close of trading Carreras closed with the largest volume of 1,661,256 units, amounting to 33.42 percent of the overall volume traded, followed by Scotia Group with 647,818 shares or 13 percent of the volume traded and Radio Jamaica with 563,453 units or 11.33 percent of the day’s volume.
Trading resulted in an average of 216,141 units valued at an average of $3,540,055 for each security traded. In contrast to 138,060 units for an average of $5,524,374 on Tuesday. The average for the month to date is 897,409 shares with a value of $4,795,531 and previously 947,792 shares with a value of $4,897,207. In contrast, March closed with an average of 626,526 units with an average value at $20,492,207 for each security traded.
The US dollar market closed on Wednesday with Proven Investments finishing trading at 20 US cents after trading 30,955 shares for US$6,410. Trading ended with a rise of 3.31 points in the market index to 164.15 as the average price of Proven inched higher during the day.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 5 stocks ended with bids higher than their last selling prices and 2 with a lower offers.
For more details of market activities see – JSE main market trading climbs – Wednesday.

Berger’s Managing director bullish on future

Berger Paints fell $2.07 to $17 with the largest block of shares on Tuesday.

Berger Paints just released its 2017 annual report, filled with a series of goodies for shareholders from talk of going after market share and adding new product lines to the addition and upgrading equipment to increase efficiency.
The report also disclosed the company will pay a final dividend of 28.5¢ per share totaling $61 million, equivalent to 35 percent of the profit to December 2017. The payment will to be made on May 28, to shareholders on record at the close of business of May 11, the proposed dividend compares to 50 cents or just over 30 percent of profit to March in 2017.
“For the nine-month period, revenues were $1.91 billion versus $2.36 billion for the 12-months ended March 2017, with a net profit of $174 million versus $316 million for the previous fiscal year. Berger enjoyed steady growth in profits from the 2012 fiscal year when it posted a profit of $33 million and rising in each year. Profit nearly doubled in 2016 to $122 million from $67 million the year before and more than doubled to March 2017.
The biggest contributor to the revenue decline for the December 2017 period “was a deliberate strategy of using aggressive pricing in an extremely competitive environment, to drive volume growth and take market share. This, coupled with increasing market acceptance and demand for our economy line, put downward pressure on margins. There has been an increase in administration expenses, some of which were one-off and related to the acquisition. Apart from these, there were higher costs for legal settlements as well as higher inventory and bad debt provisions, which adversely affected the current period compared to 2016/2017,” Andy Mahadeo, the Managing Director told shareholders in his report to them.

Andy Mahadeo, the Managing Director

“In addition to the one-off expenses identified in the Overview, raw material prices have also increased significantly over 2016. In a very competitive environment, we have made a deliberate decision to grow market share by absorbing the price increases and ensuring our customers get the best possible value for money. While this has resulted in declining Gross Margins in the short term, it positions the brand for growth in the future as our strategies are implemented going forward.”
“The outlook for 2018 and beyond is extremely positive. The Berger brand remains strong and continues to dominate the local market with strong brand equity and a reputation for quality. With GDP projected to grow by at least 1.5 percent in 2018, construction activity and the demand for coatings is expected to remain relatively strong for the next two to three years. Plans are already being implemented to expand the company’s local distribution and product range as well as to improve our level of customer service and responsiveness. In 2018, there will also be greater emphasis on building out exports by targeting new markets in Central America and the Greater CARICOM region,” the Managing Director reported.
Of note are developments in 2017 that are pointed out in the Managing Director’s report, “While the performance is creditable, there has been a decline in revenue and profits when compared to 2016/2017 on a pro-rata basis, with a few one-off extraordinary events that adversely affected the results. The one-week shutdown of operations and sales in order to conduct the verification exercise prior to the transfer of ownership as well as the significant legal and valuation costs incurred in September, will not be repeated going forward.”

Berger Paints is one of IC Insider’s TOP 10 stocks.

We expect to realize the full effect of our coatings synergies across our five operating plants in 2018 as we leverage our regional supply chain to remove cost. Our Strategic Plan over the next three years will see the company investing heavily in plant and equipment. This will enable us to increase production capacity and improve operational efficiencies while maintaining an unwavering focus on creating additional value.
Gross cash flow brought in $267 million, but growth in receivables, inventories, addition to fixed assets offset by increased payables and the paying of $113 million in dividends, left negative cash flow of $156 million. At the end of December, shareholders’ equity stood at $1 billion with no borrowed funds. Net current assets ended the period at $1.3 billion, inclusive of Trade and other receivables of $674 million, cash and bank balances of $232 million. Current liabilities stood at $494 million of which trade payables accounted for $381 million.
The stock traded at $18.20 on the main market of the Jamaica Stock Exchange with a PE ratio of 7 times 2018 projected earnings of $2.60. Net asset value is $4.93 with the stock selling at 3.5 times book value.

JSE main market trading drops sharply – Monday

Trading levels rose sharply on the Main Market of the Jamaica Stock Exchange on Monday with 2,407,626 units valued at just $18,652,792 changing hands, compared to 8,083,593 units valued at $186,825,752 changing hands on Friday.
The main market closed with just 27 securities changing hands, of which 9 rose, 13 declined and 5 traded firm leading to the JSE All Jamaican Composite Index fell 763.81 points to 320,289.16 and the JSE Index declined by 695.92 points to 291,819.62.
In market activity, Berger Paints added 10 cents to end at $18, with 74,122 stock units trading, Carreras fell 10 cents and concluded trading at $10.80 with 11,218 units, Caribbean Cement lost 3 cents and finished trading at $35.77 with 2,291 shares, Ciboney Group settled 12 cents trading 1,349,330 shares, Grace Kennedy ended trading at $48, with 2,181 shares. Jamaica Broilers rose 25 cents and closed trading at $20.50 with 1,035 stock units, Jamaica Producers finished trading losing 19 cents to end at $15.80, with 4,312 units, Jamaica Stock Exchange gained 50 cents and closed at $7, with 1,000 shares, JMMB Group lost 50 cents to end at $27, with 16,603 shares. Kingston Properties lost 20 cents and concluded trading at $5.25, with 3,727 shares, Mayberry Investments shed 25 cents and settled at $6, with 8,063 units, NCB Financial Group ended trading losing $1.08 to $95.50 with 18,081 shares, 1834 Investments traded at $1.19 with 16,986 shares after slipping 1 cent. PanJam Investment closed 50 cents lower at $41.50 with 3,960 stock units, Portland JSX ended at $8.01 with a loss of 49 cents after trading 15,883 units, Radio Jamaica rose 4 cents and finished at $1.09 with 45,943 shares, Sagicor Group gained 1 cent and settled at $37.56 with 77,870 shares and Sagicor Real Estate Fund fell 50 cents to $14.50 with 13,983 shares. Salada Foods added 10 cents and ended trading at $11.20 with 2,940 stock units, Scotia Group traded 164,153 units, rising 5 cents to $50.20 in the process, Seprod fell 10 cents and finished trading at $35.40 with 118 shares, Supreme Ventures ended at $11.65 with 10,500 shares after losing 5 cents, Victoria Mutual Investments rose 5 cents and concluded trading at $4.20, with 191,987 stock units and Wisynco Group rose 27 cents and ended at $10.48 with 119,419 units trading. In the main market preference segment, JMMB Group 7.25% finished trading at $1.50, with 100 units and JMMB Group 7.5% closed at $1, with 240,686 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “Modest fall for JSE major – Monday .”

Standoff for TOP 10 stocks

Berger Paints annual report had some good news for investors to digest.

The up and down nature of the markets this past week left most stocks fairly stable resulting in no new entrant to the TOP 10 list of stocks on the Jamaican Stock Exchange.
The past week got greeted by a series of company results that were not inspiring with most reporting lower profits for the first quarter this year. On a positive note, most of the results were affected by increased cost resulting from expansion ahead of full flow of new income from the expanded facilities.
Companies affected include recently listed Elite Diagnostic, Paramount Trading and Knutsford Express. Berger Paints released their annual report that was filled with some good talk of going after market share, new product lines to be added and upgrading of equipment to increase efficiency.
“The outlook for 2018 and beyond is extremely positive. The Berger brand remains strong and continues to dominate the local market with strong brand equity and a reputation for quality. With GDP projected to grow by at least 1.5% in 2018, construction activity and the demand for coatings is expected to remain relatively strong for the next two to three years. Plans are already being implemented to expand the company’s local distribution and product range as well as to improve our level of customer service and responsiveness. In 2018, there will also be greater emphasis on building out exports by targeting new markets in Central America and the Greater CARICOM region,” the Managing Director reported.
For Palace Amusement with the bid at $781 at the close of the week down to $750 the movie Black Panther continues to pull in the crowd after two months of showing and still has two showings per day in all three cinemas, the same as shows that opened during the past week.
Barita Investments rose to close the week at $9.50 as investors sucked out most of the supply under $10. Key Insurance fell to $3 as the company reported that two directors sold shares during the week, while JMMB Group gained more ground, as the block out period for insiders to trade in the stock, comes to a close, until after mid May.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 6.2 compared to an average PE for the overall main market is 10 based on 2018 estimated earnings. The main market PE remains at 6.5 for the top stocks, compared to a market average of 12.3.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 39 percent to the average for the Junior Market Top stocks but it’s a third of what the average PE for the year is likely to be of 20 times earnings and main market stocks traded at a discount of 47 percent to the market.

Trading jumps on JSE main market – Friday

Trading levels rose sharply on the Main Market of the Jamaica Stock Exchange on Friday with 8,083,593 units valued at $186,825,752 changing hands, compared to 4,713,225 units valued at $80,181,699 changing hands on Thursday.
The main market closed with 21 securities changing hands, the same as on Thursday of which 10 rose, 5 declined and 6 traded firm leading to the JSE All Jamaican Composite Index dived by 1,552.80 points to 321,052.97. The JSE Index dropped 1,414.78 points to 292,515.54 on Friday.
In market activity, Berger Paints ended with a loss of 30 cents at $17.90, with 3,073 stock units, Carreras concluded trading 30 cents higher at $10.90, with 219,500 units, Caribbean Cement finished 30 cents higher at $35.80, with 26,800 shares, Ciboney Group gained 1 cent to end at 12 cents, with 1,258,000 shares trading, Grace Kennedy ended trading at $48, with 24,135 shares. Jamaica Broilers traded with a loss of 25 cents at $20.25, with 46,838 stock units, Jamaica Producers finished trading 58 cents higher at $15.99, with 2,014,107 units, Jamaica Stock Exchange closed at $6.50, with 56,585 shares, JMMB Group ended 50 cents higher at $27.50, with 31,989 shares. Kingston Properties concluded trading with a loss of 35 cents at 52 weeks’ low of $5.45, with 12,000 shares, Kingston Wharves finished 99 cents higher at $40, with 3,363,504 stock units, NCB Financial Group ended trading gaining 6 cents to end at $96.58, with 41,945 shares, PanJam Investment closed at $42, with 981 stock units. Sagicor Group settled with a loss of 5 cents at $37.55, with 71,388 shares and Sagicor Real Estate Fund settled at $15, with 53,000 shares. Scotia Group traded with a loss of 1.85 cents at $50.15, with 113,898 units, Supreme Ventures ended 17 cents higher at $11.70, with 122,713 shares, Victoria Mutual Investments concluded trading 5 cents higher at $4.15, with 95,150 stock units and Wisynco Group finished 6 cents higher at $10.21, with 41,525 units. In the main market preference segment, Jamaica Money Market 7.5% fell 5 cents to $1.90, with 466,462 stock units and Proven Investments 8.25% settled at $5.15, with 20,000 units changing hands.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “JSE major falls 1,553 points – Friday.”