VM Investments in TOP 10

VM Investments press conference for launch its IPO. from left is Michael McMorris – Chairman of VMBS, Courtney Campbell Group CEO, Devon Barrett CEO of VMIL and Janice McKenley – Group Chief Financial Offer.

Initial Public offerings were all the rage in Jamaica Stock Market this past week, with three IPOS opening and closing during the week all being oversubscribed and one new one coming to market to open on Monday and expected to close on the same day.
The focus on IPOs negatively affected trading in the secondary market with the Junior Market giving up almost all of the gains make in the first half of the year. The week ended with no movement in and out of the TOP 10 Junior Market stocks but VM Investments is a new one in the Main Market list along Pulse Investments that returned with a fall in the stock price during the week, and out goes Wisynco and Sagicor Group.
As indicated last week, the bulk of Wisynco’s gain should come in the latter part of 2018, based on current operations that should deliver earnings of 70 cents for the current year and $1 for the next fiscal as the company continues to recover from the ravages of the fire back in 2016. Much is expected from VM Investments that is priced to bounce well. Investors ought to bear in mind that that has the year closely, they will be changes to the TOP list for 2018, quite a number on the current list are expected to repeat in 2018.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended the week at 7.9 and a PE of 8 for the main market TOP 10. The average PE for the overall main market is 14.1 and 12.6 for the Junior Market, based on 2017 estimated earnings.
At the close of the week, discount for both the main and Junior markets have virtually merged, with the IC Insider.com’s TOP 10 stocks now trading at an average discount of 44 percent to the average of the market for Junior Market Top stocks and 46 percent for the main market.
Market Watch| The two markets retreated sharply over the past two weeks and broken through support levels with some individual stocks pulling back and pushing the market index down markedly, but the main market seems to have found a bottom and may be on the way up now that the major IPOs are closed. The junior market could be going through a consolidation phase for a while, at least that is what the market seems to be suggesting.
Investors should still keep a keen eye on Caribbean Cement for which supply seems to be declining fast, Cable & Wireless that appears scarce under $1, NCB Financial, Berger Paints, JMMB Group, Main Event, Lasco Financial, Paramount Trading and Stationery and Office.

9 JSE stocks rise 6 fall – Thursday

Berger Paints price jumped $2.45 on Thursday

When trading closed on the Jamaica Stock Exchange on Thursday, the JSE All Jamaican Composite Index fell 954.19 points to 303,596.51 and the JSE Index declined by 869.38 points to 276,610.75 as the prices of 9 stocks advanced, 6 declined and 4 traded firm resulting in 714,979 units valued at $14,275,297 trading.
In the main market activity, Berger Paints jumped $2.45 higher to $17, with 2,243 shares, an indication that selling at lower levels is limited. Cable & Wireless settled with a loss of 2 cents at $1, with 19,950 shares, Carreras traded with a loss of 10 cents at $10.50, with 54,125 units, Grace Kennedy closed $1 higher at $43, with 24,781 shares, Jamaica Broilers ended 54 cents higher at $17.70, with 1,864 stock units. Jamaica Producers concluded trading 90 cents higher at $15.10, with 10,000 units, Jamaica Stock Exchange finished with a loss of 50 cents at $6.50, with 3,000 shares, JMMB Group settled with a loss of $1 at $24, with 48,960 shares, Kingston Wharves traded 20 cents higher at $32.70, with 11,539 units. NCB Financial Group closed with a loss of $1.65 at $92.25, as 66,022 shares traded, Portland JSX finished 20 cents higher at $8.50, with 1,929 shares, Pulse Investments settled 30 cents higher at $1.75, with 61,000 shares, Radio Jamaica ended trading at $1, with 2,316 stock units. Sagicor Group traded at $38, with 28,366 units, Sagicor Real Estate Fund finished trading at $14.50, with 10,279 shares, Salada Foods closed 69 cents higher at $9.50, with 60,000 shares, Scotia Group ended 20 cents higher at $53, with 18,587 stock units. Seprod finished at $30, with 25,000 shares and Supreme Ventures ended trading with a loss of 1 cent at $10, with 101,330 stock units. In the main market preference segment, Jamaica Money Market Brokers 7.5% preference share ended trading at $1.90, with 6,837 units and JMMB Group 7.5% preference share ended trading at $1.15, with 156,851 stock units.

Prices of securities trading for the day are those at which the last trade took place.
For more details of market activities see report “JSE main market falls back – Thursday.”

10 JSE stocks rise 7 fall – Wednesday

The prices of 10 securities advanced, 7 declined and 6 traded firm in trading on the Main Market of the Jamaica Stock Exchange on Wednesday as trading concluded with 24 securities trading, leading to 9,894,407 units valued at $132,996,713 changing hands.
At the close of market activities, the JSE All Jamaican Composite Index jumped 1,711.67 points to 304,550.70 and the JSE Index climbed 1,559.52 points to 277,480.13.
At the close of trading, Barita Investments concluded with just 145 units changing hands at $8, Cable & Wireless settled 3 cents higher at $1.02, with 54,429 shares, Caribbean Cement ended $1.85 higher at $31.85, with 11,349 stock units. Carreras fell 39 cents to $10.60, with 34,465 units, Grace Kennedy closed with a loss of $1 at $42, as 624,979 shares changed hands, Jamaica Broilers ended 15 cents higher at $17.16, with 1,270,187 stock units, Jamaica Producers concluded trading 20 cents higher at $14.20, with 459 units. Jamaica Stock Exchange finished 10 cents higher at $7, with 34,700 shares, JMMB Group settled at $25, with 11,454 shares, Mayberry Investments finished trading at $5, with 117,316 shares, NCB Financial Group closed $1.40 higher at $93.90, with 51,016 shares trading. 1834 Investments ended with a loss of 5 cents at $1.15, with 30,511 stock units, 138 Student Living closed at $6, with 2,900 shares, PanJam Investment concluded trading 50 cents higher at $42.50, with 4,808 units, Portland JSX finished with a loss of 20 cents at $8.30, with 9,200 shares, Pulse Investments settled with a loss of 5 cents at $1.45, with 200 shares, Radio Jamaica ended trading with a loss of 9 cents at $1, with 100,723 stock units. Sagicor Group traded at $38, with 23,114 units, Sagicor Real Estate Fund finished trading 20 cents higher at $14.50, with 18,752 shares, Scotia Group ended 30 cents higher at $52.80, with 16,186 stock units, Seprod concluded trading 50 cents higher at $30, with 200 units. Sterling Investments finished at $12, with 2,500 shares and Supreme Ventures settled with a loss of 49 cents at $10.01, with 7,426,588 shares. In the main market preference segment, Jamaica Money Market Brokers 7.5% preference share ended trading at $1.90, with 48,226 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 report “JSE main market in big jump – Wednesday.” 

JSE main market in big jump – Wednesday

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A $1.40 rise in the price of NCB Financial helped to lift the JSE indices on Wednesday.

At the close of trading the JSE All Jamaican Composite Index surged 1,711.67 points to 304,550.70 and the JSE Index jumped by 1,559.52 points to 277,480.13 as 24 securities changed hands, with 10 rising, 7 declining and 6 trading firm.
Main market activity lead to 9,894,407 units valued at $132,996,713 trading compared to 2,992,590 units valued at $57,473,157 from 22 securities on Tuesday.
Trading ended with an average of 412,267 units for an average of $5,541,530 in contrast to 136,027 units for an average of $2,612,416 on Tuesday. The average volume and value for the month to date amounts to 227,449.31 units valued at $ 4,185,528 and previously, 161,245 units valued at $3,699,796. In contrast, November closed with average of 349,084 units at an average of $5,801,440 for each security traded.
IC bid-offer Indicator| At the end of trading in the main and the US dollar markets, the Investor’s Choice bid-offer indicator reading shows 8 stocks ended with bids higher than their last selling prices and 2 with lower offers.
Proven Investments US ordinary share, was the sole trade in the US dollar market, with 4,300 units changing hands in closing 1 cent higher to 23 US cents, with the index rising 4.67 points to 174.66.
The major movers at the close, are Caribbean Cement that climbed $1.85, Grace Kennedy losing $1 with 624,979 shares changing hands, followed by a rise of $1.40 in the price of NCB Financial, while Supreme Ventures fell 49 cents with 7.4 million shares trading.

For more details of market activities, see report – 10 JSE stocks rise 7 fall – Wednesday.

JSE close down again on Tuesday

Trading on the Main Market of the Jamaica Stock Exchange ended on with 22 securities changing hands versus 26 on Monday as 7 securities advanced, 7 declined and 8 traded firm.
At the close, the JSE All Jamaican Composite Index declined 1,062.41 points to 302,839.03 and the JSE Index fell 967.97 points to close at 275,920.61 as 2,992,590 units valued at $57,473,157 traded.
In main market activity, Barita Investments concluded trading 25 cents higher at $8, with 500 units, Berger Paints finished with a loss of $2.25 to $14.55, with 13,213 shares trading, Caribbean Cement ended trading with a loss of $1.50 to close at $30, with 3,700 stock units. Carreras traded at $10.99, with 33,604 units, Grace Kennedy closed at $43, with 132,200 shares, Jamaica Broilers ended with a loss of 99 cents at $17.01, with 1,896,189 stock units, Jamaica Stock Exchange finished at $6.90, with 32,935 shares. JMMB Group fell $1.50 to $25, with 514,862 shares, Kingston Wharves traded at $32.50, with 17,837 units, Mayberry Investments finished trading with a loss of 1 cent at $5, with 115,425 shares, NCB Financial Group closed $1.98 higher at $92.50, with 15,738 shares. 1834 Investments ended at $1.20, with 2,630 stock units, 138 Student Living closed at $6, with 1,833 shares, PanJam Investment concluded trading $1 higher at $42, with 1,992 units, Pulse Investments settled at $1.50, with 50,000 shares, Radio Jamaica ended trading 4 cents higher at $1.09, with 10,500 stock units, Sagicor Group traded $1.20 higher to $38, with 12,466 units. Sagicor Real Estate Fund finished trading with a loss of 20 cents at $14.30, with 200 shares, Scotia Group ended with a gain of $1.50 at $52.50, with 11,209 stock units, Seprod concluded trading with a loss of 50 cents at $29.50, with 20,800 units, Sterling Investments finished at $12, with 50,000 shares and Supreme Ventures settled 50 cents higher at $10.50, with 54,757 shares.
Prices of securities trading for the day are those at which the last trade took place.
For more details of market activities see report “Drop in JSE main market on Tuesday.”

JSE up with minority of stocks rising

Trading on the Main Market of the Jamaica Stock Exchange ended on Monday with 26 securities changing hands, of which 5 advanced, 11 declined and 10 traded firm, resulting in 5,044,996 units valued at $75,889,380 changing hands.
The JSE All Jamaican Composite Index advanced by 1,541.93 points to 303,901.44 and the JSE Index advanced by 1,404.87 points to close at 276,888.58.
In main market activity, Barita Investments concluded trading with a loss of 25 cents at $7.75, with 250,300 units traded, Berger Paints finished with a loss of 20 cents at $16.80, with 3,664 shares, Cable & Wireless settled 3 cents higher at 99 cents, with 88,985 shares. Caribbean Cement ended trading with a loss of 25 cents at $31.50, with 9,345 stock units, Carreras traded 9 cents higher at $10.99, with 7,210 units, Ciboney Group finished trading at 35 cents, with 198,773 shares, Grace Kennedy closed at $43, with 6,162 shares. Jamaica Broilers ended 50 cents higher at $18, with 1,478,292 stock units changing hands, Jamaica Producers concluded trading with a loss of $1.10 cents following Friday’s fall of $1.12 to close at $14, with 3,552 units, Jamaica Stock Exchange finished 10 cents higher at $6.90, with 2,920 shares, JMMB Group settled at $26.50, with 15,805 shares trading. Kingston Wharves traded at $32.50, with 500 units, Mayberry Investments finished trading at $5.01, with 117,300 shares, NCB Financial Group closed with a loss of $1.49 at $90.52, with 93,264 shares, 1834 Investments ended with a loss of 1 cent at $1.20, with 100,000 stock units, 138 Student Living closed at $6, with 6,100 shares, PanJam Investment concluded trading with a loss of 50 cents at $41, with 7,500 units. Portland JSX finished with a loss of 45 cents at $8.50, with 25,669 shares, Pulse Investments settled with a loss of 28 cents at $1.50, with 8,753 shares, Radio Jamaica ended trading with a loss of 3 cents at $1.05, with 866,047 stock units, Sagicor Group traded 30 cents higher at $36.80, with 16,886 units. Sagicor Real Estate Fund finished trading at $14.50, with 1,500 shares, Scotia Group ended at $51, with 404,829 stock units, Seprod concluded trading at $30, with 4,865 units, Sterling Investments finished at $12, with 124,000 shares and Supreme Ventures settled with a loss of $1 at $10, with 1,202,775 shares.
Prices of securities trading for the day are those at which the last trade took place.
For more details of market activities see report “More recovery for JSE main market.”

Jam Teas, Blue Power & Wisynco in TOP 10

In a week of big price movements in the market three new stocks moved into the TOP 10 at the close of the last week. Wisynco that IPO debut this week just makes it into the main market TOP 10, suggesting there should be some gains ahead.
The bulk of Wisynco’s gain should come in the latter part of 2018 based on current operations that should deliver earnings of 70 cents for the current year and $1 for the next fiscal. Blue Power slipped in price to re-enter the top Junior Market list while Jamaican Teas rose based on fall in price and estimated earnings for 2018 fiscal year. Out of the TOP 10 Junior Market, are Derrimon Trading and Main Event that rose to $6. Wisynco pushed Pulse Investments out of the main market TOP 10.
At the close of Friday, the average PE ratio for Junior Market Top stocks dropped sharply from 9.2 last week to at 8.1 and a PE at 8.5 for the main market TOP 10. The average PE for the overall main market is 14.3 and 12.9 for Junior Market, based on 2017 estimated earnings.
At the close of the week, discount for both the main and Junior markets have virtually merged, with the IC Insider.com’s TOP 10 stocks now trading at an average discount of 42 percent to the average of the market for Junior Market Top stocks and 43 percent for the main market.
Market Watch| The two markets retreated sharply and broken through support levels with some individual stocks pulling back and pushing the market index down markedly. This week the focus could be on the three IPOs that opening in days.
Investors should still keep a keen eye on Caribbean Cement for which supply seems to be declining fast, Cable & Wireless that appears scarce under $1, NCB Financial, Berger Paints, JMMB Group, Main Event, Lasco Financial, Paramount Trading and Stationery and Office.

NCB climbs $1.96 to help JSE rise

NCB Financial Group jumped $1.96 to help push the JSE up on Friday.

The JSE All Jamaican Composite Index advanced by 309.14 points to close at 302,359.51 and the JSE Index advanced by 281.66 points to close at 275,483.71. The market closed with 2,765,894 units trading valued at $114,523,797 as 19 securities changing hands, 4 advanced, 8 declined and 7 traded firm.
A rise of $1.96 in the price of NCB Financial is the main reason behind the rise on Friday.
In main market activity, Barita Investments concluded trading at $8, with 500 units, Berger Paints finished 80 cents higher at $17, with 85,586 shares, Cable & Wireless settled with a loss of 2 cents at 96 cents, with 222,509 shares, Caribbean Cement ended trading with a loss of 25 cents at $31.75, with 65,067 stock units, Carreras lost 9 cents to end at $10.90, with 8,200 units. Ciboney Group finished trading with a loss of 15 cents at 35 cents, with 54,318 shares trading, Grace Kennedy closed at $43, with 4,500 shares, Jamaica Broilers ended at $17.50, with 5,614 stock units, Jamaica Producers concluded trading with a loss of $1.12 to $15.10, with 5,050 units. Jamaica Stock Exchange finished at $6.80, with 100 shares, JMMB Group settled with a loss of 50 cents at $26.50, with 46,461 shares, Kingston Wharves traded at $32.50, with 200 units, NCB Financial Group closed $1.96 higher at $92.01, with 445,090 shares. PanJam Investment concluded trading with a loss of 25 cents at $41.50, with 44,988 units, Radio Jamaica ended trading at $1.08, with 18,000 stock units, Sagicor Group traded 50 cents higher at $36.50, with 1,530,650 units, Sagicor Real Estate Fund finished trading at $14.50, with 7,129 shares. Scotia Group ended with a loss of 2 cents at $51, with 209,940 stock units and Supreme Ventures settled 70 cents higher at $11, with 11,992 shares.
Prices of securities trading for the day are those at which the last trade took place.

Advancing prices crushed by decliners – Thursday

Trading on the Main Market of the Jamaica Stock Exchange ended on Thursday with 25 securities changing hands, 6 advanced, 11 declined and 6 traded firm, with 5,195,513 units valued at $74,800,685 compared to 13,175,593 units valued at $360,574,899 on Wednesday.
The JSE All Jamaican Composite Index declined by 2,034.00 points to close at 302,050.37 and the JSE Index declined by 1,853.20 points to close at 275,202.05.
In main market activity, 1834 Investments ended with a loss of 9 cents at $1.21, with 10,000 stock units, Barita Investments concluded trading with a loss of 10 cents at $8, with 20,561 units, Berger Paints finished at $16.20, with 1,084 shares, Cable & Wireless settled at $0.98, with 669,689 shares, Caribbean Cement ended trading with a loss of 1 cent at $32, with 32,950 stock units. Carreras traded with a loss of 1 cent at $10.99, with 3,008,091 units, Grace Kennedy closed at $43, with 33,063 shares, Jamaica Broilers ended with a loss of 40 cents at $17.50, with 46,915 stock units, Jamaica Producers concluded trading 22 cents higher at $16.22, with 34,050 units. Jamaica Stock Exchange finished with a loss of 20 cents at $6.80, with 51,195 shares, JMMB Group settled with a loss of 50 cents at $27, with 19,455 shares, Kingston Wharves traded at $32.50, with 107,220 units, Mayberry Investments finished trading at $5.01, with 414,751 shares. NCB Financial Group closed 4 cents higher at $90.05, with 258,394 shares, 1834 Investments ended with a loss of 9 cents at $1.21, with 10,000 stock units, PanJam Investment concluded trading 75 cents higher at $41.75, with 12,050 units, Portland JSX finished 5 cents higher at $8.95, with 1,600 shares, Pulse Investments settled 13 cents higher at $1.78, with 10,000 shares. Radio Jamaica ended trading 3 cents higher at $1.08, with 45,500 stock units, Sagicor Group traded with a loss of $1 at $36, with 31,555 units, Sagicor Real Estate Fund finished trading at $14.50, with 30,633 shares, Scotia Group ended with a loss of $1.48 at $51.02, with 77,645 stock units. Seprod concluded trading with a loss of 1 cent at $30, with 400 units and Supreme Ventures settled with a loss of 70 cents at $10.30, with 66,712 shares. In the main market preference segment, Jamaica Money Market Brokers 7.50%, traded 125,000 units at $1.90, JMMB Group 7.5% ended trading at $1.10, with 87,000 stock units and Proven Investments traded 46,657 shares at $5.50.
Prices of securities trading for the day are those at which the last trade took place.
For more on main market trading follow Main Market drops again on Thursday

Prices mostly up indices drop

Investors chopped $4.99 off the price of NCB Financial on Wednesday.

Prices of securities rose more than those that fell at the close of trading on the Main Market of the Jamaica Stock Exchange on Wednesday, but the JSE All Jamaican Composite Index dropped by 1,625.76 points to 304,084.37 and the JSE Index declined by 1,481.25 points to 277,055.25.
Trading closed with 22 securities changing hands, 9 advancing, 5 declining and 10 trading firm with 13,175,593 units valued at $360,574,899 changing hands.
In market activity, Barita Investments ended trading with a loss of 40 cents at $8.10, with 200 units, Berger Paints finished 9 cents higher at $16.20, with 2,046 shares, Cable & Wireless gained 1 cent to 98 cents, with 492,124 shares trading, Caribbean Cement ended trading at $32.01, with 7,476 stock units, Carreras traded at $11, with 62,384 units. Grace Kennedy closed $1.30 higher at $43, with 161,291 shares, Jamaica Broilers advanced 40 cents to $17.90, with 16,271 stock units, Jamaica Producers concluded trading with a loss of 20 cents at $16, with 3,356,105 units, Jamaica Stock Exchange rose 40 cents to close at $7, with 12,662 shares changing hands. JMMB Group settled at $27.50, with 4,971,543 shares, Kingston Wharves traded with a loss of 50 cents at $32.50, with 17,386 units trading, investors chopped $4.99 off the price of NCB Financial Group down to $90.01, with 128,557 shares trading, PanJam Investment concluded trading 25 cents higher at $41, with 3,518,560 units. Portland JSX finished 40 cents higher at $8.90, with 900 shares, Pulse Investments settled with a loss of 15 cents at $1.65, with 10,974 shares, Sagicor Group traded with a rise of 46 cents to $37, with 166,036 units, Sagicor Real Estate Fund finished trading at $14.50, with 17,424 shares. Scotia Group ended with a loss of $1.44 to close at $52.50, with 46,603 stock units and Supreme Ventures settled $1 higher at $11, with 134,138 shares. In the main market preference segment, Jamaica Money Market Brokers 7.25% traded 2,349 shares at $2.49 JMMB Group 7.25% ended trading 3,907 stock units at $1.50 and Proven Investments 8.25% traded 46,657 units at $5.50.
Prices of securities trading for the day are those at which the last trade took place.