Ian Dear, Managing Director of Express Catering
Trading started in Express Catering shares on Friday on the Junior Market, with the stock enjoying strong demand up to the $3 level. New information obtained this past week from the prospectus resulted in the earnings for this company being upgraded and it is included in the TOP stocks.
Importantly for Express Catering, the prospectus states that effective at the end on of May, the contract that gave rise to the payment of management fees was cancelled. The amount, the equivalent to 9 percent of revenues or roughly US$1.4 million will no longer be paid and should go towards boosting the bottom-line, and should result in the earnings per share around J$0.26 cents for 2018 fiscal year. The change means it is now a part of the TOP 10 Junior Market stocks. With the strong demand for the stock, it should spend just a short time in the list. The same out turn seems likely for Stationery and Office Supplies (SOS) once it starts to trade, with the 
IPO being nearly 4 times oversubscribed with more than 1,000 applications received for the 52 million shares.
With the initial public offers now out of the way, trading in the secondary markets saw more energy in the past week than for the previous two, with some stocks that were weak before, finding buying at the lower prices.
ISP Finance price rose to $14 after falling to $11 during the past week, but big declines in the prices of AMG Packaging and Caribbean Cream pushed out ISP as well Caribbean Flavours and CAC 2000 out of the top listing.
The only movement in and out of the TOP 10 in the main market were Sagicor Group that spent just one week a short while ago, coming back, as Cable & Wireless dropped out with a big gain in the price in the past week of 17.5 percent.
The average PE ratio for the Junior Market Top stocks is down at 6.6 with SOS in at a PE of 5 times 2017 earnings. The PE for the main market TOP 10, holds at 6.7. The average PE for the overall main market, remains at 13 and 12 for Junior Market, based on 2017 estimated earnings.
At the close of the week, IC Insider.com’s TOP 10 Junior Market stocks now trade at an average discount of 45 percent to the Junior Market average, while those in the main market are trading at a 49 percent discount, to the average of the market, leaving stocks with room for growth in the months ahead.
Last week IC Insider indicated that two stocks to watch were Cable & Wireless with the price around support level and NCB Financial with very limited number of stocks currently being offered. Both stocks bounced with the former rising over 17 percent to 94 cents and NCB rising to $75 from $71.50. Active supply for NCB is very low currently and technical chart suggests a big break out for it very soon. NCB is to be watched for a possible break towards $80 and Express Catering to well over $3.
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 6 stocks with bids higher than their last selling prices and 1 with a lower offer.
Jamaica Producers traded 70,303 shares at $14. Jamaica Stock Exchange closed 49 cents lower to $6, with 412,335 shares traded, JMMB Group exchanged 9,435 shares at $19.20, having gained 20 cents, Kingston Properties closed at $7.15 trading 12,526 units, Kingston Wharves declined $2 to close at $29 exchanging 15,846 units. NCB Financial Group jumped $2.99 to close at $75, after exchanging 45,368 shares, 1834 Investments traded 78,774 shares at $1.35, PanJam Investment closed at $32.50, gaining $2.05 with a turnover of 20,647 shares, Proven Investments added 2 cents to close at $24.67 exchanging 34,000 shares and Pulse Investments closed at $2.49, with gains of 24 cents and 34,600 shares changing owners. Sagicor Group lost 66 cents, with an exchange of 6,200 shares, to close at $31.75, Sagicor Real Estate Fund closed at $11.20, with a loss of 70 cents and 11,000 units being switching. Scotia Group traded $1 lower to $41 with 161,924 shares traded, Seprod lost 20 cents, closing at $29.75 trading 460,673 shares, Supreme Ventures fell 20 cents to $7.50, with an exchange of 24,297 shares. Proven Investments US ordinary shares gained 0.01 US cent to close at 24 US cents trading 34,000 units, Proven 8.25% preference share closed at $4.98, losing 2 cents with 9,700 units traded, Jamaica Money Market Brokers 7.5% preference share gained 5 cents to close at $2.10, with 9,890 units changing hands and JMMB Group US 6% preference share traded 6,774 units at US$1.12.
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 6 stocks with bids higher than their last selling prices and 2 with lower offers.
Jamaica Producers dropped 98 cents to $14 with 3,000 shares changing hands. Jamaica Stock Exchange added 39 cents to close at $6.49, trading 96,582 shares, JMMB Group exchanged 76,932 shares at $19, Kingston Properties was down 85 cents to $7.15, trading 1,400 units, Kingston Wharves gained 60 cents to close at $31 while exchanging 1,761 units. NCB Financial Group lost 49 cents to close at $72.01, after exchanging 18,521 shares, PanJam Investment closed at $30.45, after falling $2.75 with 59,375 shares trading, Proven Investments exchanged 300,000 shares at $24.65, Pulse Investments closed at $2.25, gaining 25 cents with 6,500 shares changing owners, Radio Jamaica added 2 cents, to close at $1.40, trading of 117,619 shares, Sagicor Group exchanged 35,756 shares at $32.41, having gained 91 cents, Sagicor Real Estate Fund closed at $11.90, with a loss of 10 cents and 149 units switching owners. Salada Foods traded $1 lower to $9 while exchanging 400 units, Scotia Group gained 50 cents and closed at $42 with trades of 78,658 shares, Scotia Investments lost 40 cents to close at $36 trading 76,543 units, Seprod jumped $3.43 to $29.95 trading 6,350 shares, Supreme Ventures lost 20 cents to $7.70, with 56,978 shares trading. Proven Investments US ordinary shares lost 0.01 US cent to close at 23 US cents in exchanging 930,313 units, Proven Investments 8.25% preference share closed at $5, with 11,640 units traded, Jamaica Money Market Brokers 7.5% preference share was up 5 cents to close at $2.05, with 40,000 units changing hands and JMMB Group 7.5% preference share traded 4,047 units at $1.11.
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 3 with lower offers.
Jamaica Producers traded at $14.98 with 6,438 shares changing hands. Jamaica Stock Exchange closed at $6.10, with of 86,353 shares trading, JMMB Group lost 1 cent, closing at $19 while exchanging 56,479 shares, Kingston Properties traded 13,150 units after losing 80 cents to close at $8, Kingston Wharves closed at $30.40, with gains of 10 cents trading 200 units. Mayberry Investments exchanged 72,745 shares at $4.52, NCB Financial Group held firm at $72.50, with 51,061 shares traded, 1834 Investments added 2 cents to close at $1.35, with trades of 77,058 units, PanJam Investment closed at $33.20 with 5,285 shares changing owners, Portland JSX lost 50 cents to close at $10 trading only 450 shares, Pulse Investments closed at $2, losing 35 cents with 5,000 shares changing owners, Radio Jamaica closed at $1.38, with trades of 60,959 shares. Sagicor Group exchanged 24,933 shares at $31.50, Sagicor Real Estate Fund closed at $12, with a loss of 24 cents and 22,021 units trading. Scotia Group exchanged 525,595 shares at $41.50, Scotia Investments gained 40 cents to close at $36.40 trading 353 units, Supreme Venture held firm at $7.90, with trades of 65,108 shares. Margaritaville Turks US ordinary shares closed at 36 US cents, with gains of 0.04 US cents in trading 2,700,000 units, Proven Investments US ordinary shares closed at 24 US cents, gaining 0.01 US cents exchanging 41,430 units and JMMB Group US 6% preference share traded 18,826 units at US$1.12.
The main market ended trading with an average of 227,764 units valued at $6,413,211 for each security traded compared to an average of 45,192 units valued at $620,041. The average volume and value for the month to date ended at 129,324 units with an average value of $2,758,273 compared with an average of 121,676 units with an average value of $2,563,889 on the previous trading day. The average volume and value for June ended at 218,951 units with an average value of $3,871,959.
Kingston Wharves closed at $30.30, with gains of 30 cents trading only 450 units. Mayberry Investments lost 13 cents to close at $4.52 with 1,000 units being switched, NCB Financial Group added 50 cents to close at $72.50, after exchanging 24,371 shares, 1834 Investments lost 4 cents to close at $1.33, with trades of 2,701 units
ended at 121,676 units with an average value of $2,563,889 compared with an average of 129,324 units with an average value of $2,758,273 on the previous trading day. The average volume and value for June ended at 218,951 units with an average value of $3,871,959.
Kingston Properties traded 2,000 units, with gains of 5 cents to close at $8.85, Kingston Wharves closed at $30, with a loss of 40 cents with the exchange 1,998 units. Mayberry Investments lost 5 cents to close at $4.65 with 100 units switching owners, NCB Financial Group gained 50 cents to close at $72, after exchanging 818 shares, PanJam Investment traded $3.91 higher, closing at $33.91 with 4,271 shares, Proven Investments declined 38 cents to close at $24.63 with 112,186 shares exchanged, Pulse Investments traded 17,144 shares at $2.59, having gained 10 cents, Radio Jamaica closed at $1.50, gaining 7 cents with 1,150 shares changing hands. Sagicor Group traded 14,566 shares at $32, Sagicor Real Estate Fund closed at $13.50, with gains of 10 cents trading only 100 units. Scotia Group declined 59 cents to close at $41.50, with 28,297 shares trading, Seprod dived $3.48 in closing at $26.52 with a mere 570 shares switching owners. Proven Investments US ordinary shares closed at 23.9 US cents, gaining 0.02 US cents in trading 125,186 units and Proven 8.25% preference share closed 10 cents lower to $5 exchanging 10,300 units.
Pull back in the prices of several Junior Market stocks, resulted in changes in the TOP 10 junior stocks at the close of the week. The changes took place against the back ground of an unprecedented 5 issues of new shares around the same time in the market.
Trading on the main market stocks of the Jamaica Stock Exchange picked up over Thursday’s levels but declining stocks numbered more than advancing ones leading to declines in the market indices by more than 1,300 points. 
The main market ended trading with an average of 165,091 units valued at $3,143,410 for each security traded compared to an average of 56,271 units valued at $1,290,623. The average volume and value for the month to date ended at 129,324 units with an average value of $2,758,273 compared with an average of 125,350 units with an average value of $2,715,480 on the previous trading day. The average volume and value for June ended at 218,951 units with an average value of $3,871,959.
Broilers traded 70 cents higher, closing at $18.20, with an exchange of 2,080,661 shares, Jamaica Producers gained 75 cents to close at $14.75 with 10,986 shares changing hands. Jamaica Stock Exchange closed at $6.50, with a loss of 30 cents, trading 920 shares, JMMB Group lost 21 cents to close at $19.31 exchanging 6,645 units, Kingston Properties traded 400 units, losing 5 cents, to close at $8.80, Kingston Wharves closed at $30.40, with an exchange of 13,470 shares. NCB Financial Group dropped 50 cents to close at $71.50, after exchanging 40,147 shares, 1834 Investments traded 219,700 shares, gaining 1 cent to close at $1.37, PanJam Investment plunged $4.25 in closing at $30 while exchanging 201,188 shares, Portland JSX closed at $10.50 with 9,293 shares changing hands, Proven Investments advanced 38 cents to close at $25.01 with 115,000 shares exchanged, Pulse Investments traded 1,669 shares at $2.49, Radio Jamaica gained 5 cents to close at $1.43, with 83,042 shares switching owners. Sagicor Group added $1, closing at $32 with an exchange of 31,500 shares, Sagicor Real Estate Fund closed at $13.40, with gains of $1, trading 6,961 units. Scotia Group declined 31 cents to close at $42.09, with an exchange of 49,507 shares, Scotia Investments lost 1 cent to close at $36 trading 1,500 units, Seprod gained $1 and closed at $30 with 982,293 shares changing hands while Supreme Ventures closed at $7.95, after rising 60 cents and exchanging 75,600 shares. Proven Investments US ordinary shares closed at 22 US cents trading 118,527 units, JMMB Group US 6% preference share exchanged 18,000 units at US$1.12 and JMMB Group7.5% preference share gained 1 cent to close at $1.11, with trades of 953 units.
The prices of more stocks fell on Friday in trading on the Trinidad & Tobago Stock Exchange than those gaining resulted from 16 securities changing hands compared to 12 on Thursday, with 2 stocks advancing, 4 declining and 10 holding firm. 
West Indian Tobacco closed at a 52 weeks’ low of $125.88 trading 779 units.
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 3 stocks with bids higher than their last selling prices and 3 with lower offers.
Jamaica Broilers closed at $18.01, with gains of 41 cents exchanging 3,501,734 shares, Jamaica Producers gained 55 cents, closing at $15, trading 12,153 shares. Jamaica Stock Exchange closed at $6.60, gaining 20 cents and trading 28,156 shares, JMMB Group gained $1, closing at $20 with 10,600 units changing owners, Kingston Wharves gained of 10 cents and closed at $29.10, with 177,693 shares. NCB Financial Group traded $2.90 higher to close at $71.40, after exchanging 94,828 shares, 138 Student Living added 5 cents, closing at $4.55 with 2,100 shares traded, PanJam Investment gained 25 cents to close at $34.50, with an exchange of 13,265 units, Proven Investments traded 66,000 shares at $24.51, Pulse Investments lost 1 cent to close at $2.74, with 16,900 shares changing hands, Radio Jamaica exchanged 3,049 shares at $1.20. Sagicor Group traded $2.50 higher to close at $33, with 47,142 shares changing hands, Sagicor Real Estate Fund added $1.54, closing at 52 weeks’ high of $13.80 with 100 units exchanged, Scotia Group advanced $2 to close at $44 with trades of 54,394 shares while Supreme Ventures closed at $7.30, gaining 5 cents with an exchange of 9,880 shares. Proven Investments US ordinary shares closed at 22 US cents trading 62,895 units, JMMB Group 7.25% preference share closed at $1.55 exchanging 100 units and JMMB Group7.5% preference share exchanged 810 units at $1.10.