Wisynco Group traded 15,104,462 units and accounted for 79.18 percent of the day’s volume of 19,076,584 units valued at $210,708,799, in main market activity on the Jamaica Stock Exchange on Monday.
The main market closed with 27 securities changing hands and ended with 8 securities rising, 8 falling and 11 trading firm. At the end, the JSE All Jamaican Composite Index climbed 1,544.61 points to 324,039.68 and the JSE Index rose 1,407.32 points to 295,236.78.
In main market activity, Barita Investments closed 28 cents higher at $9.45, with 2,593 shares, Berger Paints ended at $17.95, with 1,100 stock units, Cable & Wireless concluded trading with a loss of 1 cent at $1.15, with 84,826 units, Carreras finished at $10.90, with 186,565 shares, Caribbean Cement settled with a loss of $1 to close at $41, with 13,331 shares. Ciboney Group ended trading at 12 cents, with 1,013,952 shares, Grace Kennedy traded with a loss of $1.50 at $48, with 11,033 stock units, Jamaica Broilers finished trading with a loss of 75 cents at $19.25, with 14,298 units, Jamaica Producers closed at $15.15, with 13,306 shares. Jamaica Stock Exchange ended 2 cents higher at $7, with 60,400 shares, JMMB Group fell $1.30 cents to $24.70, with 154,141 shares, Kingston Wharves settled at $40, with 56,687 units, Mayberry Investments ended trading with a loss of 3 cents at $6.25, with 4,338 shares. NCB Financial Group traded 50 cents higher at $99.85, with 28,618 shares, 1834 Investments finished trading at $1.15, with 32,418 shares, PanJam Investment ended at $41.65, with 18,597 units, Pulse Investments finished 10 cents higher at $1.75, with 221,312 shares. Radio Jamaica settled 4 cents higher at $1.10, with 48,935 shares, Sagicor Group finished trading $36.05 higher at $36.05, with 633,364 shares changing hands, Sagicor Real Estate Fund settled with a loss of 45 cents at $15.05, with 16,661 shares. Scotia Group traded with a loss of 42 cents at $53.05, with 175,666 units, Seprod finished trading at $33.50, with 4,692 shares, Supreme Ventures ended 49 cents higher at $11.99, with 500,720 shares. Victoria Mutual Investments concluded trading 10 cents higher at $4.50, with 659,569 stock units and Wisynco Group finished at $10.50, with 15,104,462 units. In the main market preference segment, JMMB Group 7.5% gained 8 cents and closed at $1.10, with 5,000 shares and Proven Investments settled at $5.15, with 10,000 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 “Record run falters for JSE majors – Monday.”
Palace is back NCB out of TOP 10 stocks
Palace Amusement is back in among the top stocks, after falling out at the end of the previous week, with the stock now offered for sale at $1,120, below the last sale price of $1,300.
There is still no new entrants to the junior market TOP 10, for the second week in a row, as there has been only moderate price changes in that market.
A new element in the market this past week, is the payment to some former Cable & Wireless shareholders who collected nearly $2 billion in cash. Most of these funds are likely to go back into the market that is short on supplies.
The price of NCB Financial rose by the end of the week and moved out of the main market top stock list. Caribbean Cement that has languished just above the $30 level for months has broken into the $40 range and moved down to the second half of the list. The sharp price change follows an announcement that the company signed an agreement to buyback leased assets during this year. The buyback is set to save around $2 billion per annum before tax.
Palace Amusement revenues and profit, are getting a big lift from the strong showing of the Black Panther movie being shown currently. The stock’s attractiveness is not based solely on that development. Data shows the company’s revenues have been rising well since 2014 when it hit $833 million, rising to $916 million in 2015, while there was a slight dip in 2016 to $909 million, it rose 9 percent in 2017, to $990 million. Revenues for the half year to December last year grew 11 percent to $493 million and profit rising 138 percent, continuing the normal annual growth. Revenues will hit the billion mark for the first time in the company’s history, for the current fiscal year and remain over that level going forward. The performance of the economy is critical to the future fortunes and to a lesser degree, the quality of films. Data shows that with tight economy, patronage in Kingston suffered badly with the fall in the economy from in 2008 onwards. At the same time strong growth said to be around 7 percent per annum in the Montego Bay economy, shows up in strong revenues gains there compared to Kingston. With the overall economy recovering, Palace is benefitting.
PanJam Investment for 2017, reported a 29 percent rise in profit to $4.13 billion and in earnings per share of $3.93 from continuing operations. The group is expected to continue to enjoy increased earnings in 2018 and the focus on expansion of new projects will be beneficial to them going forward.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 6.3 compared to an average PE for the overall main market is 10 based on 2018 estimated earnings. The main market PE is 6.8 for the top stocks compared to a market average of 12.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 37 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, 20 times earnings and main market stocks traded at a discount of 44 percent to the market.
Entities associated with IC Insider.com owns shares in Palace Amusement Company and Caribbean Cement.
VM Investments dominates JSE’s trading
Victoria Mutual Investments dominated trading on the Main Market activity on the Jamaica Stock Exchange on Monday, accounted for 60.4 percent of total shares traded and closed at a record high of $4.85.
Market activity on Monday fell well below that on Friday but the market indices climbed much higher even as advancing stocks just edged out declining ones. The main market ended with 26 securities changing hands, ending with 10 securities rising, 8 falling, 8 trading firm. The JSE All Jamaican Composite Index surged 2,130.17 points to 320,257.64 and the JSE Index adding 1,940.83 points to 291,790.92.
Trading ended with 4,116,289 units valued at $49,819,783 changing hands, versus 115,025,659 units valued at $1,171,809,500 on Friday.
In main market activity, Barita Investments closed at $7.50, with 10,345 shares traded, Berger Paints ended 7 cents higher at $19.07, with 63,799 stock units, Carreras finished at $11, with 18,161 shares, Caribbean Cement settled with a loss of 4 cents at $33.05, with 9,961 shares, Ciboney Group ended trading 3 cents higher at 10 cents, with 35,000 shares. Grace Kennedy traded with a loss of $2 at $44, with 4,300 stock units, Jamaica Broilers finished trading with a loss of 12 cents at $18.88, with 11,324 units, Jamaica Producers closed at $15, with 39,031 shares, Jamaica Stock Exchange ended 15 cents higher at $6.70, with 2,250 units changing hands. JMMB Group concluded trading with a loss of $1 at $25, with 288,866 shares, Kingston Properties finished at $6.65, with 680 stock units, Kingston Wharves settled with a loss of $2.25 at $39.75, with 298,752 units, Mayberry Investments ended trading 41 cents higher at $5.41, with 1,450 shares. NCB Financial Group traded with a loss of 30 cents at $99.20, with 66,155 shares, PanJam Investment ended at $41.50, with 14,567 units, Pulse Investments finished with a loss of 7 cents at $1.78, with 2,500 shares, Sagicor Group ended trading 40 cents higher at $37.50, with 32,719 stock units. Scotia Group finished trading 88 cents higher at $50.90, with 1,240 shares, Sterling Investments ended $1 higher to $14, with 4,300 shares, Supreme Ventures concluded trading with a loss of 45 cents at $11.50, with 159,366 stock units, Victoria Mutual Investments finished 40 cents higher at a new high of $4.85, with 2,484,967 units. Wisynco Group settled 25 cents higher at $10.50, with 525,358 shares and Sagicor Real Estate Fund ended trading at $17, with 37,978 shares. In the main market preference segment, Jamaica Money Market 7.5% traded at $1.95, with 1,220 stock units, JMMB Group 7.5% closed at 99 cents, with 1,000 shares, Proven Investments settled 10 cents higher at $6, with 1,000 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 main market sharply higher – Monday.”