Offer for Berger not serious

August 31, 2017 by

Minority shareholders in the Jamaican based Berger Paints have been made an offer to purchase the 104,990,171 ordinary shares that are not owned by the Trinidad based, Ansa McAl group.
The offer is priced at $10.88 per share, well below the price the stock has been trading at for most of 2017 and ever since the company posted strong increased nine months results in early February, re-enforced by earnings of $1.47 per shares for the full year to March, from a 15 percent increase in revenue. With an 11 percent increase in the first quarter to June this year to $23.4 million even as sales declined due to what the company says to inadequate cement supplies.
According to the offer document, from February 12 and March 11 this year, 659,600 units were traded between $10.99 and $13.56. A total of 834,100 units were traded from March 12 to April 11 at $11.41 to $14.49, thereafter until August 11, the trading range was $13.01 to a high of $23.90 with more than 2 million shares trading. In trading in the early morning session on Thursday 65,035 units were sold down to $13.

Berger Paints traded at a 52 weeks’ high of $23.50 earlier this year.

The offer document states that if the group gets 80 percent or more of issued shares, then they will apply to the Jamaica Stock Exchange to have the shares delisted. That of course is an unlikely development at the current offer price. More than 64 million shares or 30 percent of the issued shares are owned by savvy investors comprising 6 shareholders who are unlikely to accept such a low offer. Any success must have the consent of the majority of these holders.
Local stocks are trading at an average of more than 13 times 2017 earnings and that would place a value of Berger shares at $19 to $22 per share. Going forward, with economic activities picking up, profits should rise even more than at the current levels and would put the value of the stock at a higher level than the above range.

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

Trading activity picks up on JSE

August 29, 2017 by

The main market of the Jamaica Stock Exchange saw increased trading on Tuesday over Monday’s activity, with higher values and volumes. The market closed at a new record high with the gains for the year to date being 33 percent based on the All Jamaica Composite Index that advanced 1,183.31 points by the close of trading.
In trading Cable Bahamas Jamaica dollar denominated preference share, traded for the first time with 3 units changing hands at $1,000,000 each.
Elsewhere, at the close of market activity, the securities changing hands, the last price and volume traded for the day are, Barita Investments with a fall of $1.48 to $9.01 with 6,099 shares, after investors seemed to have lost interest in it, following the announcement of a buyout of majority shares. Berger Paints closed at $15.80, losing 20 cents with 60,636 shares, Cable and Wireless lost 5 cents to close at $1.05 with 905,749 shares, Caribbean Cement exchanged 5,388 shares at $30, Carreras held firm at $108 with 730,722 shares, Grace Kennedy ending with a loss of 50 cents, t0 $41 with 5,213 shares. Jamaica Broilers rising 45 cents, to $18.20 with 234,394 shares, Jamaica Producers with a loss of 48 cents, closed at $14.50 with 326,105 shares, Jamaica Stock Exchange jumped 79 cents to $6.49, in trading 5,300 shares, JMMB Group lost 15 cents to $20.75 with 284,052 shares. Kingston Properties closed at $7.50, after losing 50 cents with 10,325 shares, Kingston Wharves climbed $1.15, to $32 with 164,207 shares, Mayberry Investments gained 10 cents to finish at $4.60 with 12,020 shares, NCB Financial Group closed at $87.54, losing 45 cents with 110,532 shares, PanJam Investment lost 2 cents to close at $32.98 with 150,000 shares. Pulse Investments closed with a loss of 1 cent, at $1.99 trading 20,701 shares, Radio Jamaica gained 10 cents to $1.30 with 54,276 shares, Sagicor Group closed at $32 with 55,233 units, Sagicor Real Estate Fund ended at $12 trading 8,200 shares, Salada Foods exchnaged 7,705 shares at $10, Scotia Group closed 50 cents higher to $46 with 16,854 stock units, Seprod climbed $3.25 to close at $33 with 9,091 shares, Supreme Ventures closed at record high of $11, gaining $1.49 with 34,580 shares. Proven Investments US ordinary shares closed at 23 US cents with 2,420 units, Jamaica Money Market Brokers 7.5% preference share, closed at $1.85 with 74,950 units, JMMB Group 7.5% preference share closed with 300,000 shares at $1.15 and Proven 8.25% preference share gained 10 cents to close at $5.10 with 279,533 units.

 

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JSE main market pulls back from record

August 28, 2017 by

The Jamaica Stock Exchange pulled back from the record close on Friday with the market indices declining with the volume and value traded rising above Friday’s levels.
The All Jamaica Composite Index declined 452.43 points to close at 278,307.75, the JSE Market Index declined 412.22 points to 253,569.88 and the JSE US dollar market index fell 6.51 points to 177.52.
At the close of trading, 24 securities changed hands in the main market with 1 trading in the US dollar market, leading to 9 stocks advancing and 10 declining. The main market ended with 3,602,298 units valued at $94,690,959 changing hands compared to 2,197,630 units valued at $56,139,038 at the close on Friday. Trading in the US dollar market accounted for 174,932 units valued at US$40,234 bringing the total of all trades to J$99,840,958.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 4 stocks with bids higher than their last selling prices and 1 with a lower offer.
The main market ended trading with an average of 150,096 units valued at $3,945,457 for each security traded compared to an average of 84,254 units valued at $2,159,194. The average volume and value for the month to date ended at $185,421 units with an average value of $3,984,939 compared with an average of 187,499 units with an average value of $3,987,261 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
At the close of the market, the last traded prices of securities and volume changing hands are, Barita Investments with a loss of 51 cents in closing at $10.49 with 2,449 shares, Berger Paints closed at $16, after gaining 25 cents with 500 shares, Cable and Wireless lost 5 cents to close at $1.10 with 299,771 shares, Caribbean Cement climbed $2.50 and ended at $30 with 76,723 shares, Carreras inched 1 cent higher to close at $108 with 473,898 shares, Grace Kennedy traded 206,942 shares at $41.50. Jamaica Broilers with gains of 14 cents, closed at $17.75 with 4,965 shares, Jamaica Producers dropped $1.52 to $14.98 with 1,053,204 shares, Jamaica Stock Exchange closed at $5.70, with a loss of 30 cents trading 1,645 shares, JMMB Group lost 10 cents to close at $20.90 with 301,858 shares. Kingston Properties closed at $8 with 4,184 units, Kingston Wharves rose 6 cents and closed at $30.85 with 5,743 shares, NCB Financial Group closed at $87.99, having lost $1 with 5,571 stock units, PanJam Investment gained 5 cents to $33 with 39,433 shares, Portland JSX traded 5 cents lower to $9.25 with 10,000 shares. Pulse Investments ended with a loss of 5 cents at $2 with 16,600 shares, Sagicor Group added 50 cents, closing at $32 with 19,990 shares, Sagicor Real Estate Fund gained 2 cents to close at $12 trading 490,652 shares, Scotia Group closed 40 cents higher at $45.50 with 1,651 shares, Sterling Investments exchanged 2,000 shares at $14, Supreme Ventures closed at $9.51, losing 49 cents with 74,519 shares. Proven Investments US ordinary shares lost 1 cent US and closed at 23 US cents with 174,932 units, 138 Student Living variable rate preference share traded 500 units at $5.68, Jamaica Money market Brokers 7.5% preference share closed at $1.85 with 61,500 units being exchanged and JMMB Group 7.5% preference share closed with 448,000 shares at $1.15.

 

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Main market stocks at record close – Friday

August 25, 2017 by

Supreme Ventures closed at record high of $10 on Friday.

Shares of Jamaica’s gaming company, Supreme Ventures hit a new high of $10 at the close of trading on Friday and helped push Jamaica Stock Exchange main market to a new high on Friday, following Thursday’s record close.
At the close of trading on Friday, the All Jamaica Composite Index advanced 106.76 points to end at a record close at 278,760.18, the JSE Market Index rose 97.27 points to a record close of
and the JSE US dollar market index ended 3.84 points higher to 184.03.
At the close of trading, 26 securities changed hands in the main market with 2 trading in the US dollar market, leading to 11 stocks advancing and 13 declining. The main market ended with 2,197,630 units valued at $56,139,038 changing hands compared to 4,236,294 units valued at $109,212,854 at the close on Thursday. Trading in the US dollar market accounted for 82,203 units valued at US$31,069 bringing the total of all trades to J $60,115,919.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading ended at 8 to 1.
The main market ended trading with an average of 84,524 units valued at $2,159,194 for each security traded compared to an average of 184,187 units valued at $4,748,385. The average volume and value for the month to date ended at $187,499 units with an average value of $3,987,261 compared with an average of $193,935 units with an average value of $4,101,515 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
At the close of the market, the last traded prices of securities and volume changing hands are, Barita Investments with a loss of 10 cents, to close at $11 with 900 shares, Berger Paints ending at $15.75, after falling 40 cents with 7,041 shares, Cable and Wireless added 1 cent to $1.15 with 14,200 shares, Caribbean Cement dropping $2.50 to $27.50 with 2,589 shares, Carreras slipping 39 cents, to close at $107.99 with 8,582 shares, Grace Kennedy traded 50 cents higher to $41.50 with 33,114 shares. Jamaica Broilers with gains of 56 cents, ended at $17.61 with 210,036 shares, Jamaica Producers fell 50 cents to close at $16.50 with 18,317 shares, Jamaica Stock Exchange closing at $6, with a loss of 19 cents trading 4,905 shares, JMMB Group lost 50 cents to close at $21 with 523,305 shares. Kingston Properties closed at $8 with 3,014 shares, Kingston Wharves finished 71 cents lower to $30.79 with 1,000 shares, Mayberry Investments closed at $4.50 with 162,111 shares, NCB Financial Group climbed $1 to $88.99, with 242,433 shares, 1834 Investments inched higher by 5 cents to $1.40, trading 12,717 shares, PanJam Investment concluded trading at $32.95, falling 5 cents with 11,536 shares. Pulse Investments climbed 25 cents to $2.05 with 100 shares, Radio Jamaica lost 10 cents to end at $1.20 with 285,000 shares, Sagicor Group climbed 50 cents, to $31.50 with 109,676 shares, Sagicor Real Estate Fund dropped 8 cents to $11.98 trading 6,028 shares, Scotia Group closed $1.85 lower to $45.10 with 235,195 shares, Seprod traded 27,869 shares at $29.75, Supreme Ventures climbed to a record high of $10, gaining $1.20 with 30,246 shares. Proven Investments US ordinary shares gained 1 cent US and closed at 24 US cents with 69,200 units, JMMB Group US 6% preference share traded 2 US cents higher to US$1.12 with 13,003 units, Jamaica Money Market Brokers 7.5% preference share declined 14 cents to $1.85 with 142,500 units, JMMB Group 7.25% preference share closed at $1.50, losing 10 cents with 239 units and JMMB Group 7.5% preference share closed with 104,977 shares at $1.15.

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Huge gains push JSE to record high – Thursday

August 24, 2017 by

Main market indices of the Jamaica Stock Exchange made huge gains in trading on Thursday, to close at new record highs.
The All Jamaica Composite Index surged 6,467.89 points to a record close of 278,653.42, as the market recovered from near 5,000 points drop on Wednesday. The JSE Market Index leapt 5,892.98 points to a record close of 253,884.83, bettering the record reached August 10 for both indices. The JSE US dollar market index declined 3.84 points to 180.19.
At the close of trading, 23 securities changed hands in the main market with 2 trading in the US dollar market, leading to 11 stocks advancing and 8 declining. The main market ended with 4,236,294 units valued at $109,212,854 changing hands compared to 12,794,782 units valued at $308,295,023 at the close on Wednesday. Trading in the US dollar market accounted for 26,814 units valued at US$7,765 bringing the total of all trades to J$110,206,772.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 11 stocks with bids higher than their last selling prices and 7 with lower offers.
The main market ended trading with an average of 184,187 units valued at $4,748,385 for each security traded compared to an average of 473,881 units valued at $11,418,334. The average volume and value for the month to date ended at $193,935 units with an average value of $4,101,515 compared with an average of $194,585 units with an average value of $4,058,391 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
At the close of the market, the last traded prices of securities and volume changing hands are, Berger Paints closing at $16.15 after gaining 15 cents with 1,658 shares, Cable and Wireless lost 1 cent to close at $1.14 with 78,544 shares, Caribbean Cement rising $1.51 to $30 with 40,298 shares, Carreras with a loss of 40 cents to $107.60 with 128,994 shares, Grace Kennedy traded 50 cents higher to $41 with 333,520 shares. Jamaica Broilers finished with a loss of 45 cents at $17.05 with 502,272 shares, Jamaica Producers advanced by $1 to $17 with 2,297,691 shares, Jamaica Stock Exchange closed at $6.19 with gains of 49 cents trading 7,551 shares, JMMB Group gained 50 cents to close at $21.50 with 37,534 shares. Kingston Properties closed at $8 with 1,250 shares, Kingston Wharves climbed $2 to $31.50 with only 800 shares, Mayberry Investments rose 32 cents to $4.50 with 20,438 shares, NCB Financial Group traded $1.99 higher to $87.99 with 252,941 shares, 138 Student Living closed at $5.15 trading 7,850 shares, PanJam Investment closed at $33 with 32,820 shares, Portland JSX lost 11 cents, closing at $9.30 with 200 shares. Pulse Investments ended with a loss of 40 cents at $1.80 with 7,800 shares, Radio Jamaica traded 234,820 shares at $1.30, Sagicor Group fell by 60 cents, closing at $31 with 42,184 shares, Sagicor Real Estate Fund added 1 cent to close at $12.06 in trading 11,185 shares, Scotia Group gained 45 cents and closed at $46.95 with 56,384 shares, Seprod lost 25 cents to close at $29.75 with 56,860 shares, Supreme Ventures held firm at $8.80 with 82,070 shares. Proven Investments US ordinary shares lost US 1 cent and closed at 23 US cents with 25,097 units and JMMB Group US 6% preference share traded at US$1.10 with 1,717 units.

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JSE main market rises on Tuesday

August 22, 2017 by

Trading closed on main market stocks of the Jamaica Stock Exchange with gains in the indices up to 1,000 points but with the stocks rising equalling those declining at on Tuesday.
The All Jamaica Composite Index advanced 1,030.80 points to close at 277,166.52, the JSE Market Index gained 939.17 points to 252,530.09 and the JSE US dollar market index declined 0.98 points to 177.52.
At the close of trading, 22 securities changed hands in the main market with 1 trading in the US dollar market, leading to 9 stocks advancing and 9 declining. The main market ended with 1,806,656 units valued at $31,094,257 changing hands compared to 2,163,104 units valued at $46,639,859 at the close on Monday. Trading in the US dollar market accounted for 104,517 units valued at US$24,043 bringing the total of all trades to J$34,171,703.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 5 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 82,121 units valued at $1,413,375 for each security traded compared to an average of 83,196 units valued at $1,793,841. The average volume and value for the month to date ended at $174,635 units with an average value of $3,532,680 compared with an average of 181,752 units with an average value of $3,695,704 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
The last price at close of the market and the volume of securities traded are, Barita Investments declining 15 cents to $11.10 with 7,675 shares, Berger Paints closing 95 cents lower to $16 with 6,159 units, Cable and Wireless lost 7 cents to close at $1.20 with 102,613 shares, Caribbean Cement ended at $28.95 with 15,949 stock units,Carreras held firm at $108 with 37,181 shares, Grace Kennedyclimbing $2.98 higher to $41.99 with 6,361 units. Jamaica Broilers with a loss of 50 cents, to $17 with 433,797 shares, Jamaica Producers declined 98 cents to $14 with 55,760 shares, Jamaica Stock Exchange closed at $6.47 with 2,957 stock units, JMMB Group closing with a loss of 30 cents to $21.30 with 109,395 shares. Kingston Wharves ended at $29.50 with 340 shares, Mayberry Investments gained 3 cents to $4.09 with 192,037 shares, NCB Financial Group declined 10 cents to $89 with 58,746 shares, PanJam Investment advanced $1.40 to $33 with 9,000 shares and Portland JSX closed at $9.30 with 10,600 shares. Radio Jamaica gained 5 cents to close at $1.35 with 2,240 shares, Sagicor Group traded 50 cents higher to $31.50 with 33,696 shares, Sagicor Real Estate Fund with a 1 cent gain to $12.06 exchanging 41,250 shares, Scotia Group climbed 97 cents to $46 with 33,173 shares, Seprod gained 16 cents to close at $30 with 165 shares, Sterling Investments traded 70 cents higher to $14 with 22,100 shares, Supreme Ventures ended with a loss of 20 cents to $8.80 with 624,922 shares. Proven Investments US ordinary shares lost US 1 cent and closed at 23 US cents with 104,517 units.

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Supreme Ventures hits new high – Monday

August 21, 2017 by

Supreme Ventures closed at a new all-time high of $9.

Stocks rose modestly on the Jamaica Stock Exchange leading the market indices rising around 100 point continuing the much bigger rise on Friday even as Supreme Ventures closed at an all-time high of $9, after climbing 45 cents in trading 12,960 shares.
Investors were responding to strong increase in profit for the six months to June, moving from $649 million to $918 million.
The All Jamaica Composite Index advanced 101.60 points to close at 276,135.72, the JSE Market Index gained 92.57 points to 251,590.92 and the JSE US dollar market index declined 6.86 points to 178.50.
At the close of trading, 26 securities changed hands in the main market with 3 trading in the US dollar market, leading to 10 stocks advancing and 10 declining. The main market ended with 2,163,104 units valued at $46,639,859 changing hands compared to 7,943,772 units valued at $101,876,271 at the close on Friday. Trading in the US dollar market accounted for 6,508 units valued at US$1,904 bringing the total of all trades to J$46,883,517.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading was 7 to 1 with 7 stocks closed with bids higher than their last selling prices and 1 with a lower offer.
The main market ended trading with an average of 83,196 units valued at $1,793,841 for each security traded compared to an average of 294,214 units valued at $3,773,195. The average volume and value for the month to date ended at 181,752 units with an average value of $3,695,704 compared with an average of 187,965 units with an average value of $3,854,192 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
At the close of the market, the last traded prices and the volume of securities changing hands are: Barita Investments with a loss of 35 cents, to end at $11.25 with 767 shares, Berger Paints closing $2.45 higher to $16.95 with 19,700 shares, Cable and Wireless gaining 7 cents to $1.27 with 549,196 shares, Caribbean Cement with gains of 45 cents, ended at $28.95 with 16,055 shares, Carreras held firm at $108 with 41,241 shares, Grace Kennedy falling $2.04 to $39.01 with 262,645 shares. Jamaica Broilers rising $1.29, to $17.50 with 247,206 shares, Jamaica Producers climbing $1.23, to $14.98 with 47,619 shares, Jamaica Stock Exchange closing at $6.47 with 28,865 shares. JMMB Group continues inn strong demand following the 604,000 shares traded on Friday with an exchange of 332,817 shares to finish at $21.50. In other main market activity, Kingston Wharves closed at $29.50, losing 50 cents with 123,007 shares trading, Mayberry Investments fell 11 cents, to $4.06 with 3,117 shares, NCB Financial Group declined $1.85 to $89.10 with 54,845 shares, 1834 Investments closed at $1.34 with 30,000 shares, PanJam Investment closed at $31.60, losing $1.40 with 2,100 shares and Portland JSX gained 5 cents, to end at $9.30 with 1,200 shares. Pulse Investments rose 1 cent, to $1.95 with 33,620 shares, Radio Jamaica lost 5 cents to $1.30 with 14,702 shares, Sagicor Group traded 75 cents lower, to $31 with 81,938 shares, Sagicor Real Estate fund closed at $12.05, losing 1 cent in trading 10,525 shares, Salada Foods gained 50 cents to close at $10 with 250 shares, Scotia Group declined $1.96 to $45.03 with 130,119 shares, Scotia Investments traded 50 cents higher to $35.51 with 4,500 shares, Seprod gained 9 cents to close at $29.84 with 6,210 shares. Proven Investments US ordinary share gained 1 US cent to end at 24 US cents with 5,663 units, Margaritaville Turks US ordinary share lost 3 US cents, to 30 US cents with 421 units, JMMB Group US 6% preference share closed at US$1.10 with 424 units and Jamaica Money Market Brokers 7.5% preference share closed at $1.99 with 107,900 units.

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Two financial stocks return to TOP 10

August 20, 2017 by

Unlike last week when there were several changes to the TOP 10 lists, this past week had just two changes, with Lasco Financial returning to the junior market and Sagicor Group to the Main market lists.
CAC 2000 dropped out of the Junior Marketlisting, allowing for the return of Lasco Financial that dropped sharply in price, to close the week at $3.40. Mayberry Investments was edged out by Sagicor Group, dropping from $34.35 to $31.75 at the close of the past week.
Former TOP main market value stock, Barita Investments moved up from $9.40 during the previous week to close at $11.60 for a gain of more than 273 percent since September last year. The most recent Initial Public Offering, Stationery and Office Supplies that exited the TOP 10 after listing in the prior week, is fluctuating between $4 and just over $5, and should undergo some amount of wide price movements until demand and supply find some balance. JMMB Group climbed to $23 on Friday before closing back at $21.45, supply has dried up for this stock and it seems to be readying to make an early exit in the next few weeks.
The average PE ratio for the Junior Market Top stocks is at 7.5 and the PE for the main market TOP 10, ends the week at 7.2. The average PE for the overall main market trades at 13.3 and 13.2 for Junior Market, based on 2017 estimated earnings.
At the close of the week, IC Insider.com’s TOP 10 stocks now trade at an average discount of 42 percent to the average of the market for Junior Market Top stocks and it remains at 46 percent for the main market.

Filed Under: Buy Rated, JSE Combined, Stock Market Tagged With: , , , , , , , , , , , , , , , ,

JMMB could continue higher

August 20, 2017 by

JMMB Group traded at a 52 weeks’ closing high od $21.45.

Based on the trading activity for the past few days there seems to be increased interest in JMMB Group shares with a sharply declining supply being offered after the company released its first quarter results and announced that they have commenced commercial banking operations in Jamaica.
On Friday the price closed at $21.50 with 782,460 shares traded, after it traded at $23 in the morning session as supply totally dried up at one stage when only a small volume was on offer at $29, the first this has happened in a long time. At the close less than 240,000 units were offered for sales, with most quoted at $22.50. The group reported pretax profit rising to $995 million from $857 million in 2016 but profit after tax just inched up to $613 million from $590 in 2016.
Cable and Wireless came in for buying but sellers were just as interest in selling, in the end supply on the market has been shrinking. The stock could well see side-ways movement during the week, don’t be surprised if the price moves up as supplies around last week’s closing price recedes. NCB Financial Group has seen the price in Trinidad coming close to the Jamaican price on Friday, with demand still strong in that market and no stock on offer. The closing bid in TTSE suggests upward price movement can be expected. Supply in Jamaica is not great, it’s just that buyers are taking their time to acquire and could well be trying to hold out until close to the release of the full year’s results in early November. There was spirited buying of Barita Investments on Thursday gone, with 163,100 units being snapped up aggressively. There was no follow through of such aggression on Friday. It is anyone’s guess where this one will go, in the days ahead, but it is worth watching. Berger Paints pulled back to $14 during the week, with no announcement from its new parent company about the minority holdings. Ansa McAl announced that they would be making a submission about the 20 percent minority holdings in the Trinidad sister company, with no comments about the operations in Jamaica.

Consolidated Bakeries (Purity) stock could fall during coming week.

There is a fair bit of swing in the price of Stationery and Office Supplies with selling coming in during the week, but with buying more subdued than before. Investors can probably expect the price to swing between $4 and $5 for a while. The price could even falling into the $3 to $4 range depending on how fast sellers want to exit. At least that is what the bids and offers suggest, unless there are some increased buying in the week ahead.
Jamaican Teas after reporting nine months results with increased earnings per share over 2016, traded as high as $5.30 during the day but closed at $5 as increased interest was visible for the stock, suggesting that the price could rise further. Jetcon Corporation continues to attract buying interest after posting doubling of profits for the first six months of 2017 and traded as high as $5.70 before pulling back to $5.50 at the close on Friday, with bids to buy in line with the closing price. Paramount Trading came in for some buying with the price recovering from its fall to $2.50 recently after the company stated that they were I the process of constructing the Lubricant plant with operations to commence later this year. Currently supply below $4 is scanty.
Consolidated Bakeries reported a loss in its June quarter leading to a fall in the stock price. Selling continues with more than 660,000 units on offer at $2.15 and weak bids. Further decline is to be expected.

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Big price gains in Scotia & NCB – Friday

August 18, 2017 by

NCB jumped $3.85 on Friday

A big $3.85 jump in the price of NCB and $2.99 for Scotia Group followed by $2 gain in Caribbean Cement and $2.05 for Grace Kennedy, pushed the main market of the Jamaica Stock Exchange sharply upwards on Friday.
At the close of trading, 27 securities changed hands in the main market with 2 trading in the US dollar market, leading to 10 stocks advancing and 10 declining. The All Jamaica Composite Index advanced 3,084.30 points to close at 276,034.12, the JSE Market Index climbed 2,810.15 points to 251,498.35 and the JSE US dollar market index gained 6.31 points to 185.36.
The main market ended with 7,943,772 units valued at $101,876,271 changing hands compared to 11,248,931 units valued at $225,049,422 at the close on Thursday. Trading in the US dollar market accounted for 118,113 units valued at US$28,984 bringing the total of all trades to J$105,586,231.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 8 stocks with bids higher than their last selling prices and 3 with lower offers.
The main market ended trading with an average of 294,214 units valued at $3,773,195 for each security traded compared to an average of 468,705 units valued at $9,377,059. The average volume and value for the month to date ended at 189,965 units with an average value of $3,854,192 compared with an average of 180,487 units with an average value of $3,861,556 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
At the close of market activity, Barita Investments lost 40 cents and closed at $11.60 with 1,098 shares changing hands, Berger Paints gained 50 cents to close at $14.50 with 1,200 shares, Cable and Wireless traded 446,329 shares at $1.20 at the close, Caribbean Cement traded $2 higher to close at $28.50 with 895 shares,Carreras held firm at $108 with 64,088 shares, Grace Kennedy closed $2.05 higher to $41.05 with 3,430 shares. Jamaica Broilers ended with gains of 21 cents, at $16.21 with 218,929 shares, Jamaica Producers declined $1.25, to $13.75 with 604,110 shares, Jamaica Stock Exchange lost 2 cents to close at $6.47 with 2,500 shares, JMMB Group ended with gains of 50 cents, in closing at the last traded price of $21.50 with 782,460 shares, after it traded at $23 in the morning session as supply totally dried up at one stage when only a small volume was available at $29. At the close less than 240,000 units were offered for sales, with most at $22.50. Kingston Wharves closed at $30, rising 48 cents with 6,247 shares, Mayberry Investments gained 17 cents to end at $4.17 with 20,000 shares, NCB Financial Group jumped $3.85 to $90.95 with 194,935 shares, PanJam Investment closed at $33 with 171,350 shares, Portland JSX lost 5 cents, closing at $9.25 with 18,400 shares. Proven Investments lost 1 cent to close at $25.01 with 100,000 shares, Pulse Investments eased 1 cent, to $1.94 with 1,780 shares, Radio Jamaica closed at $1.35 with 29,950 shares, Sagicor Group traded 24 cents lower, closing at $31.75 with 10,292 shares, Sagicor Real Estate Fund closed at $12.06 with 500,400 shares, Scotia Group climbed $2.99 to $46.99 with 440,247 shares, Seprod lost 25 cents to close at $29.75 with 143,605 shares, Sterling Investments closed at $13.30 with 160,000 shares, Supreme Ventures closed at a 52 weeks’ high of $8.55 with 5,000 shares after gaining 50 cents. Proven Investments US ordinary shares lost 0.99 US cent and closed at 23.01 US cents with 117,203 units, JMMB Group US 6% preference share closed at US$1.10 with 910 units, Proven Investments 8.25% preference share closed at $5 with 14,527 units, Jamaica Public Service 9.5% preference share closed at $1,302 with 2,000 units and JMMB Group 7.5% preference share lost 1 cent to close at $1.16 with 4,000,000 units.

 

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