JSE trading back to norm on Friday

The Jamaica Stock Exchange main market closed at a record on Friday as the market continues to gradually grind its way forward.

Trading activity declined in main market on Friday, but the market gained much ground to land at a new record close, as 4,887,322 units valued at $81,394,524 traded, compared with 39,156,142 units valued at $3,462,726,542 on Thursday.
The main market closed with 26 securities changing hands, 11 securities rose, 5 declined and 10 traded firm, as the JSE All Jamaican Composite Index surged 3,775.73 points to end at a record high of 332,501.11 and the JSE Index jumped 3,440.11 points to a record close of 302,946.08.
In market activity, Barita Investments closed at $10.49, with 429 shares, Carreras concluded trading at $10.60, with a loss of 12 cents trading 581,969 units, Caribbean Cement jumped $1 and finished at $38.60, with 100,100 shares, Grace Kennedy ended trading at $49, with 40,820 shares, Jamaica Broilers traded at $20.49, with 1,570 stock units. Jamaica Stock Exchange last 5 cents and closed at $6.80, with 22,500 shares, JMMB Group fell 99 cent and ended at $26.01, with 124,624 shares, Kingston Properties concluded trading at $6.65, with 12,801 shares, Kingston Wharves gained 85 cents to finish at $48.90, with 7,735 stock units. Mayberry Investments lost 13 cents in settling at $6, with 23,702 units traded, NCB Financial Group climbed $1 and ended trading at $99.95, with 189,977 shares, 1834 Investments traded at $1.16, with 440,607 shares, PanJam Investment rose 55 cents and closed at $45, with 17,145 stock units. Portland JSX ended at $10, with 57,715 units, Radio Jamaica finished at $1.10, after rising 2 cents with 142,000 shares, Sagicor Group jumped $4 and settled at $42, with 53,733 shares and Sagicor Real Estate Fund gained 50 cents to close at $15, with 12,628 shares, Scotia Group added 25 cents to trade at $50, with 506,317 units changing hands. Seprod finished trading at $35, with 3,100 shares, Sterling Investments closed at $13, with 2,025 shares trded, Supreme Ventures rose 35 cents nd ended at $12.20, with 14,890 shares, Victoria Mutual Investments concluded trading at $4.25,fter declining 5 cents with 497,877 stock units trading and Wisynco Group rose 13 cents and finished at $10.68, with 1,188,978 units. In the main market preference segment, Jamaica Money Market 7.5% traded unchanged at $2, with 1,280 stock units, JMMB Group 7.25% concluded trading at $1.50, with 1,100 shares, JMMB Group 7.5% finished at $1, with 841,700 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 “Record close for JSE main market – Friday.”

NCB dominates JSE trading – Thursday

NCB dominated trading with 35 million shares.

NCB Financial Group dominated trading on Tuesday on the main market of the Jamaica Stock Exchange with an exchange of 35,067,960 units accounting for 89.56 percent of the volume traded with the price rising 85 cents to $97.85.
Trading activity resulted in 39,156,142 units valued at over $3,462,726,542 compared to 14,312,143 units valued at $130,374,672 trading on Thursday.
The market that enjoyed several record closes during the month ended on Tuesday The main market closed with 23 securities changing hands, 9 securities rose, 9 declined and 5 trading firm, as the JSE All Jamaican Composite Index lost 923.48 points to end at 328,725.38 and the JSE Index declined 841.39 points to a record close of 299,505.97.
In market activity, Barita Investments gained 49 cents and closed at $10.49, with 2,046 shares, Berger Paints jumped $2 to end at $22, with 38,452 stock units trading, Carreras rose 7 cents and concluded trading at $10.72, with 608,357 units, Caribbean Cement lost 40 cents and finished at $37.60, with 12,424 shares, Ciboney Group settled at 11 cents, with 722,522 shares. Grace Kennedy ended trading at $49, with 15,229 shares, Jamaica Broilers lost 1 cent to trade at $20.49, with 14,967 stock units, Jamaica Producers gained 20 cents and finished trading at $17, with 22,818 units, Jamaica Stock Exchange closed at $6.85, with 50,000 shares. JMMB Group ended at $27, with a rise of 30 cents trading with 41,032 shares, Kingston Wharves dropped $1.75 and finished at $48.05, with 7,385 stock units changing hands, Mayberry Investments settled at $6.13, with 299,826 units, NCB Financial Group ended trading at $98.75, with 35,067,960 shares. 138 Student Living fell 35 cents to settle at $5.15, with 10,000 units, PanJam Investment rose 25 cents and closed at $44.45, with 16,280 stock units, Radio Jamaica rose 1 cents and finished at $1.08, with 108,713 shares, Sagicor Group settled at $38, after falling 50 cents with 91,191 shares and Sagicor Real Estate Fund lost 50 cents and settled at $14.50, with 22,460 shares. Scotia Group lost 25 cents and closed at $49.75, with 82,208 units. Sterling Investments closed at $13.00, with 522 shares, Supreme Ventures fell 15 cents and ended at $11.85, with 148,791 shares, Victoria Mutual Investments rose 4 cents and concluded trading at $4.30, with 166,533 stock units and Wisynco Group rose 5 cents to settle at $10.55, with 1,606,426 units.
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 trades at record high – Tuesday.”

JSE majors close April on a record – Monday

Investors pushed the main market of the Jamaica Stock Exchange to record highs on Monday and closing April at a record high after ending with 6 closing record highs, during the month.
The market that enjoyed several record closes during the month ended on Monday with 29 securities changing hands, resulting in 12,309,558 units valued at $246,771,642 trading leading to a rise in the market indices.
The main market closed with 13 securities rising, 8 declining and 8 trading firm, as the JSE All Jamaican Composite Index surged by 2,366.31 points to a record close of 328,893.09 and the JSE Index climbed 2,155.97 points to record 299,658.77.
In market activity, Barita Investments lost 50 cents and closed at $9.50, with 42,960 shares traded, Berger Paints jumped 95 cents to end at $20, with 103,899 stock units crossing the exchange’s platform, Carreras finished at $10.60, with 2,041,313 shares, Caribbean Cement fell 50 cents and settled at $37.50, with just 500 shares trading, Grace Kennedy traded at $49, with 80,953 stock units. Jamaica Broilers finished trading at $21, with 2,612,575 units, Jamaica Producers closed at $16.99, with 55,324 shares, Jamaica Stock Exchange lost 5 cents and ended at $6.80, with 44,641 shares, JMMB Group concluded trading at $26.87, with 44,847 shares after slipping 11 cents. Kingston Wharves jumped $1.95 to close at $50, with 2,346 units, Mayberry Investments gained 18 cents and ended trading at $6.20, with 5,000 shares, NCB Financial Group traded at $97, with 44,744 shares, 1834 Investments added just 1 cents and finished trading at $1.16, with 13,000 shares. PanJam Investment ended 25 cents higher at $44, with 25,274 units, Portland JSX lost 40 cents and concluded trading at $10, with 15,830 shares, Pulse Investments slipped 1 cent and finished at $1.78, with 9,000 shares, Radio Jamaica rose 2 cents and settled at $1.07, with 33,090 shares. Sagicor Group ended trading at $37.60, with 1,073,450 stock units and Sagicor Real Estate Fund rose 30 to $15.30, with 17,936 stock units. Scotia Group finished trading at $50, with 608,581 shares traded, Seprod rose 76 cents and concluded trading at $34.99, with 2,700 stock units, Supreme Ventures gained 13 cents and settled at $11.70, with 1,089,028 shares. Victoria Mutual Investments gained 5 cents and ended trading at $4.25, with 194,155 shares, Wisynco Group traded with a gain of 16 cents at $10.85, with 1,382,174 shares. In the main market preference segment, Jamaica Money Market 7.25% lost 5 cents and ended trading at $2.50, with 1,800 shares, Jamaica Money Market7.5% traded at $1.92, with 2,138 stock units, JMMBC 7.25% ended rose 10 cents to $2.10, with 50,000 shares, Proven Investments 8.25% rose 90 cent and closed at $5.90, with 712,300 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 trades at record high – Monday.”

Grace & FosRich in TOP 10 stocks

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Grace Kennedy is in TOP 10

Out go Palace Amusement and Lasco Financial, in comes Grace Kennedy and FosRich Group into the TOP 10 listings this week.
Lasco Financial climbed to $5.65 at the end of last week while the bid on Palace climbed to $1,000 thus leaving room for Grace Kennedy and FosRich that fell to $2.35, to enter, in a week that saw the main market trading in record territory and the Junior Market recording gains in the index for the week.
The next two weeks should set the tone for the market in the medium term as most companies will be releasing results for the March quarter. Based on early releases, only a handful of results have positive effect on prices. The latest results from Supreme Ventures with a 49 percent rise in the first quarter profit seems set to push the price higher.
Investors responded positively to Berger Paints prospects, with active supply below $20 per share having declined sharply, leaving the price to close the week at $19.
Buying continued for Barita Investments with the price hitting $10 during the week. JMMB Group pulled back by the end of the week to $26.98 from $28.32, as the block out period for insiders to trade in the stock is in place until full year results are out. Resistance for the stock price is just over $31 an area investors should be on the lookout for, in the short run. Caribbean Cement first quarter profit was slightly down on last year, but the company is set to do better in the June quarter with the buyout of the expensive lease of equipment and prospects of lower operating cost, with the major repairs behind them and increasing demand for cement likely, ahead of the 6 percent growth in the first quarter. The stock may remain around current price levels for a while. Iron Rock reported vastly improved results for first quarter and appears to be on the way to their first profit since listing. The stock climbed to $3.50, following release of the results.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 6.1 compared to an average PE for the overall main market of 10 based on 2018 estimated earnings. The main market PE is 7.2 for the top stocks, compared to a market average of 13.
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 43 percent to the market.

Trading elevated on JSE main market – Friday

Bulls may be lurching to pounce on Jamaican stocks.

Trading on the Main Market of the Jamaica Stock Exchange on Friday ended with 24 securities changing hands, resulting in 22,131,577 units valued at $314,568,605 trading leading to a rise in the market indices.
The main market closed with 9 securities rising, 8 declining and 7 trading firm, as the JSE All Jamaican Composite Index increased by 727.45 points to 326,526.78 and the JSE Index advanced 662.79 points to close at 297,502.80.
In market activity, Barita Investments lost 25 cents and closed at $10, with 11,890 shares, Berger Paints ended at $19.05, with 25,531 stock units, Carreras concluded trading at $10.60, with 415,364 units, after rising 25 cents, Caribbean Cement lost 1 cents and finished at $37.99, with 7,555 shares, Ciboney Group fell 3 cents to 10 cents with 7,063,873 shares trading. Grace Kennedy ended trading at $49, with 32,450 shares, Jamaica Broilers traded with a rise of 50 cents at $21, exchanging 44,397 stock units, Jamaica Producers climbed 49 cents and finished trading 8,514 units at $16.99, Jamaica Stock Exchange closed at $6.85, with 51,818 shares. JMMB Group gained 48 cents and ended at $26.98, with 77,600 shares, Kingston Properties spiked $1.39 to conclude trading at $6.64, with just 840 shares, Kingston Wharves finished with a fall of $1.45 to $48.05, trading 100,791 stock units, Mayberry Investments settled at $6.02, with 82,641 units changing hands. NCB Financial Group ended trading with a rise of $2 to $97, with 92,006 shares, with investors responding positively to the six months results. Portland JSX jumped $1.89 and ended at $10.40, with 82,924 units after the company posted a profit for 2018. Pulse Investments concluded trading at $1.79, with 1,085 shares, Sagicor Group settled at $37.60, with a rise of 10 cents after 4,907,816 shares traded and Sagicor Real Estate Fund settled at $15, with 20,000 shares. Scotia Group lost 50 cents to trade at $50, with 202,000 units, Seprod fell 77 cents and finished trading at $34.23, with 58,738 shares, Supreme Ventures lost 18 cents and ended at $11.57, with 297,625 shares, Victoria Mutual Investments concluded trading at $4.20, after losing 10 cents with 227,874 stock units and Wisynco Group finished at $10.69, up 19 cents with 8,307,655 units changing hands. In the main market preference segment, JMMB Group 7.5% finished at 99 cents, with 10,590 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 climbs on Friday.”

JSE main market volume remains elevated – Thursday

Trading on the Main Market of the Jamaica Stock Exchange on Thursday as 24 securities changed hands, resulting in 6,955,242 units valued at $271,269,169 trading.
The main market closed with just 5 securities rising, 11 declining and 8 trading firm, leading to the JSE All Jamaican Composite Index increased by 96.51 points to 325,799.33 and the JSE Index advanced by 87.93 points to 296,840.01.
In market activity, Berger Paints gained 5 cents to end at $19.05, with 74,992 stock units, Carreras concluded trading with a loss of 40 cents at $10.60, in the trading of 476,294 units, Caribbean Cement lost 51 cents and finished at $38, with 213,889 shares, Ciboney Group gained 1 cent to end at 13 cents with 1,630,930 shares trading. Grace Kennedy ended trading at $49, after gaining 50 cents with 24,964 shares, Jamaica Broilers traded with a fall of 50 cents at $20.50, exchanging 4,898 stock units, Jamaica Producers finished trading 6,648 units at $16.50, Jamaica Stock Exchange lost 5 cents and closed at $6.85, trading just 100 shares. JMMB Group fell 75 cents and ended at $26.50, with 120,688 shares, Kingston Wharves jumped of $3.50 to $49.50, trading 3,418 stock units, Mayberry Investments settled for a fall of 3 cents at $6.02, with 17,367 units changing hands. NCB Financial Group ended trading with a fall of $1.50 to $95, with 2,259,648 shares, PanJam Investment lost 25 cents in exchanging 190,902 shares at $43.75. Radio Jamaica ended with 10,077 shares trading at $1.05, Sagicor Group settled at $37.50, after 33,966 shares traded and Sagicor Real Estate Fund settled at $15, with 1,000 shares. Salada Foods traded 30,900 shares at $11.20, Scotia Group lost $1.49, to trade at $50.50, with 69,878 units, Supreme Ventures ended at $11.57, with 44,591 shares, Victoria Mutual Investments concluded trading at $4.30, after rising 24 cents with 130,176 stock units and Wisynco Group finished at $10.50, down 40 cents with 1,609,916 units changing hands. In the main market preference segment, Jamaica Money Market Brokers 7.25% traded a mere 300 units at $2.55, while Productivity Solutions 9.75% traded 350 units at $105 and Proven Investments 8.25% finished at $5, with 1,079,574 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 ekes out modest rise – Thursday.”

Carib Cement post fall in Q1 profits

Carib Cement reports lower Q1 profit for 2018

Revenues rose 6 percent in the March quarter this year for Caribbean Cement, compared to the first quarter of 2017 to $4.3 billion, but profit before taxation slipped modestly to $510 million from $528 million last year.
Increased taxation, from $67 million to $176 million dragged profit down to $348 million or 39 cents per share versus $460 million in 2017 or 54 cent per share.
“This performance was mainly driven as a result of the scheduled annual maintenance of Kiln 5 and Mill 5, during February and March of 2018,” the directors reported to shareholders and they went on to state that “our investment in maintenance efforts will no doubt increase our operational efficiencies with the goal of driving exports, in due course.”
Operating cost rose over 2017 by 10 percent to $3.7 billion, at a faster pace than revenues but repairs and maintenance jumped 75 percent to $345 million and staffing cost rose 18 percent to $542 million. Cost is set to fall sharply with the buyback of assets that were leased from Trinidad Cement which will reduce the $3 billion per annum charge that was incurred in this area in 2017.
Net cash generated by operating activities for the period of $856 million, but $1.5 billion was expended on capital improvement, including the installation of a new coal mill. According to management, the coal mill project currently in the final stages, and production is expected by the end of the third quarter of this year. This will continue to contribute to the plant’s operational efficiency and also to a reduction in operating costs. Cash on hand at the end of the quarter amounted to just over $1 billion.
The first quarter results left accumulated losses at $2.9 billion with shareholders’ equity at $9.3 billion. The stock closed on the Jamaica Stock Exchange at $38.51.

JSE main market retreats on Wednesday

Stocks closed on the Jamaica Stock Exchange main market with a fall on Wednesday pulling the JSE All Jamaican Composite Index down by 1,060.23 points to 325,702.82 and the JSE Index lower by 965.99 points to 296,752.08.
At the close, 26 securities traded, compared to 27 on Tuesday and ended with the prices of 11 stocks rising, 11 falling and 4 trading firm, in the main and US dollar markets.
At the close of trading, Caribbean Cement jumped $1.51 to $38.51, JMMB Group lost $1.08 to $27.25, Kingston Wharves fell 43 to $46, Scotia Group rose $1.79 to $51.99 and Seprod gained $1 to $35.
Main market activity ended with 14,655,576 units valued at $227,353,346 compared to 10,843,662 units valued at over $263,546,997 on Tuesday. At the close of trading Carreras closed with 4,337,080 units changing hands and accounting for 29.59 percent of the volume traded Wisynco Group closed with 13,412,434 units and accounted for 23.28 percent of the day’s volume and Ciboney Group Limited with 2,161,849 units and 14.75 percent of the volume. Also trading in large quantity were Jamaica Producers with 1,044,013 units and scotia Group with 1,959,155 units.
Trading resulted in an average of 563,676 units valued at an average of $8,744,359 for each security traded. In contrast to 401,617 units for an average of $9,761,000 on Tuesday. The average for the month to date is 736,824 shares with a value of $4,962,720 and previously 747,221 shares with a value of $4,720,546. In contrast, March closed with an average of 626,526 units with an average value at $20,492,207 for each security traded.
There was no trading in the US dollar market on Wednesday leaving the Market index at 172.17.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows7 stocks ended with bids higher than their last selling prices and 3 with a lower offers.
For more details of market activities see – JSE main market trading drops sharply – Wednesday.

JSE main market trading elevated – Wednesday

Trading on the Main Market of the Jamaica Stock Exchange on Wednesday as 26 securities changed hands, resulting in 14,655,576 units valued at $227,353,346 trading.
The main market closed with 11 securities rising, 11 declining and 4 trading firm, leading to the JSE All Jamaican Composite Index falling 1,060.23 points to 325,702.82 and the JSE Index declined by 965.99 points to 296,752.08.
In market activity, Barita Investments closed at $10.25, with 1,025 shares, after adding 25 cents, Berger Paints lost 10 cents and ended at $19, with 10,656 stock units, Carreras fell 5 cents and concluded trading at $10.75, with 4,337,080 units, Caribbean Cement jumped $1.51 and finished at $38.51, with 66,979 shares, Ciboney Group declined by 2 cents and settled at 12 cents, with 2,161,849 units. Grace Kennedy ended trading with a loss of 51 cents at $48.50, with 35,620 shares, Jamaica Broilers gained 90 cents in traded 14,955 stock units to end at $21, Jamaica Producers finished trading at $16.50, with 1,044,013 units, Jamaica Stock Exchange lost 10 cent and closed at $6.90, with 1,260 shares. JMMB Group dropped $1.08, ending at $27.25, with 170,021 shares, Kingston Wharves dropped $3 and finished at $46, with 15,000 stock units, Mayberry Investments settled at $6.05, for a rise of 3 cents, with 108,012 units, NCB Financial Group climbed $1.40 to $96.50, with 46,142 shares. 1834 Investments closed trading at $1.15, with 81,945 shares, PanJam Investment lost 1 cent and closed at $44, with 72,100 stock units, Pulse Investments concluded trading at $1.79, after falling 1 cent with 108,000 shares, Sagicor Group fell 49 cents and settled at $37.50, with 25,985 shares and Sagicor Real Estate Fund settled at $15, with a rise of 99 cents trading 17,835 shares. Salada Foods gained 5 cents and ended trading at $11.20, with 43,684 stock units, Scotia Group jumped $1.79 to $51.99, with 1,959,155 units, Seprod climbed $1 and finished trading at $35, with 25,820 shares, Supreme Ventures ended at $11.75, up 5 cents with 527,887 shares. Victoria Mutual Investments concluded trading at $4.06, after rising 31 cents with 357,576 stock units and Wisynco Group finished at $10.90, with 3,412,434 units changing hands. In the main market preference segment, Jamaica Money Market 7.5% traded 2,138 stock units at $1.92 and JMMB Group closed at 99 cents, with 8,405 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 “JSE main market retreats on Wednesday.”

Cement signs buy back agreement

Caribbean Cement paid $1.3 billion as initial payment on the buy back of kiln.

Caribbean Cement is reporting that they signed an agreement with our parent company Trinidad Cement Limited (TCL), for the acquisition of Kiln 5 and Mill 5 thereby terminating the lease agreement.
The company reported that they made the initial payment of $1.3 billion towards the acquisition representing a significant investment in plant and equipment, improving the company’s asset base.
In March, Caribbean Cement announced that it signed a memorandum of understanding agreeing to the termination of the operating lease and the purchase by CCC of the assets covered under the Lease.
Agreement is for approximately USD$118 million to be paid to TCL and redemption of an aggregate number of 52 million preference shares held by TCL for approximately USD$40.5 million to be paid over a nine-year period, starting in 2018 and sourced from at least one third of CCC’s profits available for distribution from the previous year. CCC will also seek financing to fund the Asset Acquisition and the Redemption.
The agreement flows from concerns of minority shareholders who at the company’s last annual General meeting, at which shareholders were given the commitment by management that the best structure would be identified to acquire ownership of the assets.
The company paid $3.3 billion in 2017 for the lease of the assets that was installed to facilitate expansion of the plant.

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