Strong weekly start for Junior Market

The Junior Market started the week off positively as it builds on last week’s sharp gains in adding 46.69 points to the Market Index to close at 2,521,29 and recovered 489.50 points or 24 percent from the low reached on March 18th.

Junior Market has recovered close to half of the losses in March.

Market activity closed with 33 securities changing hands, resulting in an exchange of 8,266,110 units valued at $19,972,528 compared to 25,469,094 units valued at $48,110,589 on Friday.
At the end of the trading day, the prices of 15 securities advanced, 12 declined and six remained unchanged. The average PE ratio of the Junior Market ended at 9.3 based on 2020/21 earnings.
Trading ended with an average of 250,488 units at $605,228 for each security traded, in contrast to 771,791 units, for an average of $1,457,897 on Friday. The average volume and value for the month to date amounts to 543,166 units valued at $816,817 and previously 451,476 units valued at $885,272. In contrast, March closed with an average of 226,230 units, valued at $542,563 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows seven stocks ended with bids higher than their last selling prices and one with lower offers.
At the close of the market, Caribbean Assurance Brokers exchanged 26,087 shares and climbed 23 cents to close at $2.17, Caribbean Cream finished 1 cent higher at $2.82 with 5,350 units changing hands, Caribbean Producers swapped 696,817 shares, after slipping 10 cents to end at $2.40. Consolidated Bakeries shed 20 cents exchanging 12,701 stock units at $1.45, Dolphin Cove added 1 cent to close at $7.80 with 1,000 shares crossing the exchange, Elite Diagnostic traded 98,336 shares, after rising 41 cents to end at $4.51. Everything Fresh closed 5 cents higher at 95 cents, with 353,495 stock units changing hands, Express Catering gained 13 cents in trading of 256,472 units at $3.13, Fontana closed trading of 571,861 units and jumped 40 cents to end at $6.30. FosRich picked up 5 cents in exchanging 13,178 shares at $3.40, GWest finished 10 cents higher at 90 cents with an exchange of 10,000 units, Honey Bun gained 50 cents after trading 513,160 shares to settle at $6.50. iCreate finished 8 cents higher at 58 cents with the transfer of 737,372 stock units, Indies Pharma closed trading of 129,871 units and lost 1 cent to end at $2.89, ISP Finance fell 10 cents to $15.90 with the trading of a mere 6 units. Jetcon Corporation exchanged 19,078 shares and added 3 cents to close at $1.02, Key Insurance closed 50 cents higher at $3.50, with 170,430 stock units trading, Lasco Distributors climbed 4 cents to settle at $2.99 in trading 182,893. Lasco Financial closed trading of 71,211 units and slipped 1 cent to end at $3.23, Lasco Manufacturing dropped 14 cents to $3.51, with 80,623 stock units trading, Limners and Bards closed at $2.10, having lost 10 cents with 6,000 units changing hands. Lumber Depot gained 8 cents to end at $1.13, with 1,697,016 shares changing hands, MailPac gained 10 cents in exchanging a volume leading 2,056,859 shares to close at $1.70, Medical Disposables slipped 28 cents to settle at $7.96 with 34,418 shares changing hands. Paramount Trading exchanged 12,688 shares to close at $2.20 after rising 5 cents, Stationery and Office Supplies fell 99 cents to $6.01 with 50,500 shares traded and tTech closed 75 cents lower at $3.50, with 42,063 stock units crossing the exchange.

Prices of securities trading are those for the day’s last transaction unless otherwise stated.

6 IC TOP 10 stocks up 25-50% last week

Three of IC Insider.com TOP 10 stocks gained between 25 and 33 percent during the past week and dropped out of the TOP 10 as the Jamaica Stock Exchange recorded all-round gains after falling by record levels in March.
Stocks leaving the TOP are Lasco Manufacturing with a gain of 33 percent after the stock rose from $2.75 the previous week to close at $3.65. General Accident moved from $4.50 to $5.71 to record a 27 percent rise and Sygnus US dollar-based stock gained 25 percent to close at 15 US cents and left the main market TOP 10. Eppley rose 31 percent for the week in closing at $16 and Elite Diagnostic is up a stunning 50 percent but remains in the TOP 10. Access Financial closed the prior week at $18.35 and is now up 33 percent to $24.50.> Some of the gains in the market arose from oversold conditions as well as funds returning to investors last week from the refund of the Trans Jamaica Highway IPO.
Current IC Insider.com TOP 10 listings are based on profits of companies reporting full year’s results for the financial year ending after this year’s second quarter and up to the second quarter in 2021.
While local stocks make a strong recovery this past week, thanks no doubt to some of the IPO refund coming back into the market. Investors must not lose sight that significant uncertainties abound about the local and global economy and how each company may be affected. It is not possible to determine the exact fallout and benefits from the crisis and the impact on company earnings. Actual earnings could vary materially from IC Insider.com’s forecast.
Investors should be looking beyond just the immediate situation and identify companies that are financially strong to withstand the current cut in revenues but will make a strong recovery by 2021. There are, however, cases where companies will benefit from the crisis, with signs that some companies’ sales increased sharply.
The three top Junior Market selections are Caribbean Producers, KLE Group and Caribbean Assurance Brokers with the potential to gain between 268 to 600 percent by 2021. Caribbean Producers’ price was struck, with the stock falling to a low of $2 in March, but is now trading at $2.50, as the company was poised to have their best yearly results. Closure of hotels and restaurants derailed the trend. The company had the best performance to December last year, with sales rising 10.7 percent to US$59 million, with a profit of US$525,000 versus a loss of $1.2 million in 2018. The expectations are for the company to return to normality for the 2021 fiscal year that ends in June 2021 that will give buyers of the stock around current prices a big payday.
In the Main Market, Radio Jamaica leads the pact followed by Berger Paints then Carreras with projected gains of 205 to 253 percent. RJR had its best Nine months period last year since 2014, while Berger suffered from poor sales in the second half of the year, which management attribute to weather-related disruptions. The company stands to benefit from lower raw material prices with a fall in the price of oil on the world market as well as lower energy prices.
The Jamaica stock market suffered sustained pressure during March, leading to one of the most rapid falls in stock prices in the history of the market and leaving many stocks severely undervalued.
Some companies with early 2020 year-ends will not have experienced the same impact from the fall out of sales on reported results and stock prices, as will others.
With the tourism industry virtually closed, companies heavily dependent on the industry will have little or no sales for a while from March. The Group consists of Caribbean Producers, Dolphin Cove, Everything Fresh and Express Catering. Entertainment company Main Event and restaurant operator KLE Group will be hurt from patrons staying home as well as fewer tourists visiting Montego Bay and patronizing the restaurant in that town. Once this period of disruption has passed, KLE should benefit from economies of scale with the full ownership of the additional restaurant.
The results of some companies will be hit by falling stock and bond prices. The results for the 2020 first quarter will show the impact of the recent market decline locally and overseas. The latter includes JMMB Group, Proven, NCB Financial Group, Barita Investments, VMBS Investments, Jamaican Teas, QWI Investments and Sagicor Group. Banks may have to increase loan loss provisions as businesses encounter cash flow problems and defaulting on loan payments.
The targeted average PE ratio is 20, with both the Junior and Main markets currently trading well below this level. The JSE Main Market ended the week, with an overall PE of 12 and the Junior Market a mere 9.2, based on current 2020 earnings. The PE ratio for Junior Market Top 10 stocks averages 5.5 with the Main Market at 8.5.
The TOP 10 stocks now trade at a discount of 40 percent of the average for Junior Market and Main Market stocks trade at a discount of 29 percent to the overall market. The average projected gain for the IC TOP 10 stocks is 312 percent down from 377 percent last week for the Junior Market and 139 percent from 153 percent for the JSE Main Market, based mostly on 2020 earnings.
IC TOP 10 stocks are likely to deliver the best returns to March 2021. Forecasted earnings and PE ratio for the current fiscal year are in determining potential gains. The ranking of stocks is in order of likely increases, with the highest-ranked, being the most attractive. Expected values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.

Persons who compiled this report may have an interest in securities commented on in this report.

MailPac dominates Junior Market trading

Trading on the Junior Market of the Jamaica Stock Exchange surged on Friday with MailPac dominating the market, just over 22 million shares accounting for 86 percent of the market share.

Junior Market in a recovery stage.

Market activity closed with 33 securities changing hands, resulting in an exchange of 25,469,094 units valued at $48,110,589 compared to 13,283,703 units valued at $24,888,541 on Thursday.
At the close of market activities, the prices of 20 securities advanced, 6 declined and six remained unchanged. The Junior Market Index advanced by 11.40 points to close at 2,474.60. The average PE ratio of the Junior Market ended at 9.3 based on 2020/21 earnings.
Trading ended with an average of 771,791 units at $1,457,897 for each security traded,  in contrast to 390,697 units for an average of $732,016 on Thursday. The average volume and value for the month to date amounts to units 451,335 valued at $885,272 and previously 298,258 units valued at $611,409. In contrast, March closed with an average of 226,230 units, valued at $542,563 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows six stocks ended with bids higher than their last selling prices and three with lower offers.
At the close of the market, AMG Packaging closed 3 cents higher at $1.68, in trading 50,100 stock units, Blue Power ended with 19,862 shares changing hands, after rising 2 cents to end at $4.02, Cargo Handlers climbed 15 cents and exchanged 21,000 units at $5.53. Investors transferred 120,109 Caribbean Assurance Brokers shares and the price lost 7 cents to close at $1.94, Caribbean Producers traded 141,053 shares, after rising 18 cents to end at $2.50, Consolidated Bakeries climbed 27 cents exchanging 115,212 stock units at $1.65, Derrimon Trading shed 3 cents in trading of 9,300 units at $1.87. Dolphin Cove closed 4 cents higher at $7.79, with 5,600 shares trading, Elite Diagnostic ended trading with 25,000 shares, after rising 23 cents to end at $4.10, Everything Fresh closed 6 cents higher at 90 cents, with 62,414 stock units trading. Express Catering dipped 13 cents in trading of 150,117 units at $3, Fontana closed trading of 342,761 units and gained 40 cents to end at $5.90, Fosrich climbed 45 cents and exchanged 19,597 shares at $3.35. iCreate declined 3 cents in trading of 174,438 units at 50 cents, Indies Pharma closed trading of 46,000 units and gained 50 cents to end at $2.90. Knutsford Express close with a loss of 5 cents at $9.15, after swapping of 356 shares, Key Insurance closed 70 cents higher at $3, with 20,000 stock units trading, Lasco Distributors declined by 3 cents to settle at $2.95 in trading 202,783. Lasco Financial closed trading of 116,341 units and gained 2 cents to end at $3.24, Lasco Manufacturing closed 5 cents higher at $3.65, with 149,773 stock units trading, Limners and Bards closed with 6,055 units changing hands and gained 2 cents to end at $2.20. Lumber Depot gained 1 cent to end at $1.21, trading 171,387 shares, MailPac lost 30 cents in exchanging 22,001,550 shares to close at $1.60. Medical Disposables climbed $1.74 to settle at $8.24 with 511,971 shares changing hands. Paramount Trading rose 27 cents and exchanged 616,305 shares at $2.25, the stock closed trading with 1,735,965 units on the bid at $2 with only two offers to sell, on the board amounting to 35,000 shares at $2.50 and $3. SSL Venture closed 21 cents higher at $1.06, with 9,500 stock units trading and Stationery and Office Supplies closed 11 cents higher at $7, with 62,074 stock units trading.

Prices of securities trading are those for the day’s last transaction unless otherwise stated.

Junior Market rapidly clawing back March losses

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The Junior Market of the Jamaica Stock Exchange enjoyed another day of outstanding gains in the market index of 69.27 points to close at 2,463.20 in trading on Thursday, the fifth day of substantial gains in a row, lifting the index 369 points since last week Friday.
Thursday gains reduced the market losses for the year, from a high of 39.3 percent in March to 26.5 percent presently. At the close of market activities, prices of 16 securities advanced, eight declined and ten remained unchanged with 34 securities changing hands. Trading resulted in an exchange of 13,283,703 units for $24,888,541 compared to 7,297,716 units at $17,298,654 on Wednesday. The average PE ratio of the Junior Market ended at 9.1 based on 2020/21 earnings.
Trading ended with an average of 390,697 units at $732,016 for each security traded, in contrast to 208,506 units for an average of $494,247 on Wednesday. The average volume and value for the month to date amounts to 298,258 units valued at $611,409, which is higher than the average in March of 226,230 units, valued at $542,563 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows seven stocks ended with bids higher than their last selling prices and two with lower offers.
At the close of the market, Cargo Handlers declined 32 cents in trading of 1,100 units at $5.38, Caribbean Assurance Brokers rose 1 cent in trading 196,792 shares to close at $2.01, Caribbean Flavours shed 50 cents trading of 139 units at $10, Consolidated Bakeries ended with an exchange of 10,000 shares, after rising 6 cents to end at $1.38. Derrimon Trading closed 7 cents higher at $1.90, exchanging 10,100 stock units, Elite Diagnostic climbed 57 cents and closed at $3.87, with 27,924 stock units changing hands, Everything Fresh ended trading with 6,009 shares, after rising 19 cents to end at 84 cents. Fontana gained 20 cents to end at $5.50 with 163,657 shares crossing the exchange, Fosrich traded of 6,000 shares, after rising 32 cents to end at $2.90, General Accident ended with a loss of 1 cent at $5.71 with 2,100 stock units changing hands. Indies Pharma ended market activity after 22,547 shares changed hands to close at $2.40 after falling 5 cents. Iron Rock Insurance closed 50 cents higher at $3, trading 18,308 stock units, Jetcon Corporation fell 11 cents in trading of 187,000 units at 99 cents, Knutsford Express closed with 5,874 shares crossing the market after rising 55 cents to end at $9.20. Lasco Distributors close with a loss of 2 cents at $2.98, swapping of 26,344 shares, Lasco Financial closed with 5,700 units crossing the market to gain 22 cents and end at $3.22, Lasco Manufacturing ended 10 cents higher at $3.60, in trading 80,700 stock units. Limners and Bards climbed 28 cents and exchanged 61,233 shares at $2.18, Lumber Depot added 1 cent and swapped 3,106,285 shares at $1.20, MailPac rose 14 cents in trading 8,397,683 shares to close at $1.90. Main Event closed 90 cents higher at $5, with 9,729 stock units trading, Medical Disposables ended with a loss of 5 cents at $6.50, after swapping 157,053 shares. Paramount Trading closed 8 cents higher at $1.98, with 85,812 stock units trading, SSL Venture fell 19 cents in trading of 1,000 units to close at a 52 weeks’ low of 85 cents and Stationery and Office Supplies closed with a loss of 11 cents at $6.89 after 7,200 shares changed hands.

Prices of securities trading are those for the day’s last transaction unless otherwise stated.

Junior Market recovery gains grounds

The Jamaica Stock Exchange Junior Market Index surged 89.79 points to close at 2,393.93 as trading ended on Wednesday with 35 securities changing hands, 13 securities advanced, 12 declined and ten remained unchanged. resulting in an exchange of 7,297,716 units valued at $17,298,654 compared to 14,255,673 units valued at $34,934,660 on Tuesday.
Trading ended with an average of 208,506 units for an average of $494,247 in contrast to 431,990 units for an average of $1,058,626 on Tuesday. In contrast, March closed with an average of 226,230 units valued at $542,563 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows ten stocks ended with bids higher than their last selling prices and there were none with lower offers.
The average PE ratio of the Junior Market ended at 8.8, based on 2020/21 earnings
At the close of the market, Access Financial ended market activity exchanging 4,238 shares to close at $23 after falling $3, Caribbean Assurance Brokers lost 11 cents in trading 283,523 shares to close at $2,  Caribbean Cream ended with 30,529 shares changing hands, after rising 1 cent to end at $2.81. Consolidated Bakeries ended market activity, exchanging 45,100 shares to close at $1.32 after falling 3 cents,  Dolphin Cove gained $1.25 to end at $7.75, trading 150 stock units, Derrimon Trading shed 2 cents with ownership of 118,857 units being switched and closed at $1.83, Everything Fresh shed 12 cents in trading of 65,000 units at 65 cents. Fontana closed 31 cents higher at $5.30, with 874,689 stock units crossing the exchange, Fosrich declined 31 cents in trading of 50,250 units at $2.58,  Honey Bun close market activity with a loss of 50 cents in ending at $6, after 68,861 shares changed hands. iCreate closed 2 cents higher at 53 cents, with 8,542 stock units trading.  Iron Rock Insurance fell 50 cents in trading of 5,100 units at $2.50, ISP Finance climbed $2.50 to settle at $16 with 104 shares changing hands, Lasco Distributors closed trading of 47,412 units and gained 2 cents to end at $3. Lasco Financial closed trading of 81,600 units and gained 5 cents to end at $3, Lasco Manufacturing closed trading of 80,689 units and gained 32 cents to end at $3.50, Limners and Bards fell 38 cents in trading of 177,041 units at $1.90, Lumber Depot ended trading with 811,825 shares, after rising 1 cent to end at $1.19. MailPac ended with 3,203,608 stock units changing hands, after rising 7 cents to end at $1.76, Main Event lost 42 cents in exchanging 10,093 shares to close at $4.10, Medical Disposables closed trading of 3,325 units and gained 4 cents to end at $6.55. Paramount Trading fell 4 cents to close at $1.90, after swapping 19,724 shares, SSL Venture closed 4 cents higher at $1.04, with 11,490 stock units crossing the exchange and Stationery and Office Supplies gained $1.30 to end at $7, trading 11,190 shares.
In the junior market preference segment, Derrimon Trading declined by 15 cents to settle at $1.65 after an exchange of 14,600 units.

Prices of securities trading are those for the day’s last transaction unless otherwise stated.

JSE Junior Market closes worse month ever

The Junior Market of the Jamaica Stock Exchange closed on Tuesday with the worse performance in its ten-year history. The market fell as much as 39.3 percent at one stage during the month and 45 percent from the peak in August last year, to record the worse decline in its history, from the peak to the bottom.  
At the close of trading for March, the Junior Market Index climbed 51.34 points to 2,304.14 to claw back 210 points in the last three days of the massive 818 points loss the market suffered on March 26. At the end of the month, the market shed 31 percent for the year to date after declining 21 percent for the month.
Market activities closed with 33 securities changing hands and resulting in the prices of 17 securities advancing, seven declining and nine closing unchanged and 14,255,673 units valued at $34,934,660 crossed the exchange compared to 8,601,172 units valued at $20,333,956 on Monday.
 Trading ended with an average of 431,990 units for $1,058,626 for each security traded, in contrast to 232,464 units, for an average of $549,566 on Monday. The average volume and value for the month to date amounts to 226,225 units valued at $542,563 and previously 216,579 units valued at $508,797. Trading in February closed with an average of 167,673 units valued at $488,038 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows nine stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close of the market, Access Financial jumped $6 to end at $26 after trading 18,818 shares, Cargo Handlers fell 30 cents in trading 400 units at $5.70, Caribbean Assurance Brokers fell 19 cents to end at $2.11 with 86,765 stock unit crossing the market. Caribbean Flavours climbed $1.50 to settle at $10.50, with 60,122 shares changing hands, Caribbean Producers ended market activity exchanging 10,368,364 shares to close at $2.32, after falling 8 cents, Consolidated Bakeries fell 20 cents in trading of 99,000 units at $1.35. Elite Diagnostic rose 20 cents to close at $3.30, with 34,433 stock units changing hands, Everything Fresh climbed 17 cents exchanging 23,015 shares at 77 cents, Express Catering shed 5 cents in trading of 72,781 units at $3.13. Fontana closed 19 cents higher at $4.99, with 758,475 stock units trading, Fosrich ended trading with 19,700 shares, after rising 29 cents to end at $2.89. Honey Bun ended with 43,393 shares changing hands, after gaining 50 cents to close at $6.50, iCreate rose 1 cent and exchanged 400 shares at 51 cents, Indies Pharma closed 45 cents higher at $2.45, with 170,125 stock units changing hands, Iron Rock Insurance lost 45 cents in trading 10,658 shares to close at $3. KLE Group picked up 20 cents and exchanged just 880 shares at $1.45, Knutsford Express closed trading of a mere two units and gained 65 cents to end at $8.65. Lasco Financial closed trading of 98,998 units with gains of 40 cents to close at $2.95, Lasco Manufacturing closed trading of 119,295 units, after picking up 28 cents to finish at $3.18. Limners and Bards rose 22 cents and exchanged 131,091 shares at $2.28, Lumber Depot closed 3 cents higher at $1.18, with 21,273 stock units trading. MailPac traded 1,469,821 shares, after rising 9 cents to end at $1.69, Main Event gained 1 cent to close at $4.52, after 700 shares crossed the exchange, Paramount Trading declined by 4 cents to settle at $1.94, with 249 units changing hands.

Prices quoted for trades are those of the last transaction for the trading day.

 

 

Huge surge for Junior Market Index

The trading week started with a flurry of positives for the junior market on Monday as 37 securities traded of which 26 advanced, four declined and seven traded unchanged, sending the market index soaring 108.72 points to close at 2,252.80 and putting the average PE ratio of the market at just 8.6 times 2020 earnings.

Junior market recovering with the Index pointing up

Trading on Monday resulted in an exchange of 8,601,172 units valued at $20,333,956 compared to 3,982,260 units valued at $9,382,200 on Friday.
The trading day concluded with an average of 232,464 units at $549,566 for each security traded in contrast to 117,125 units for an average of $275,947 on Friday. The average volume and value for the month to date amounts to 216,579 units valued at $508,797 and previously 215,698 valued at $506,536. In contrast, February closed with an average of 167,673 units at 488,038 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows four stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close of the market, Access Financial gained $1.69 to end at $20 with the trading of 40,954 stock shares, AMG Packaging traded 100 units and gained 14 cents to settle at $1.65, Caribbean Cream finished 4 cents higher at $2.80 with 17,624 shares changing hands. Caribbean Producers added 15 cents to close at $2.40 with a market-leading trade of 5,133,280 stock units, Consolidated Bakeries ended with 100 shares traded after rising 9 cents to close at $1.55, Derrimon Trading gained 39 cents to finish at $1.85 in the exchange of 12,500 units. Elite Diagnostic swapped 28,192 stock units and gained 35 cents to settle at $3.10, Everything Fresh ended trading with 45,295 shares after rising 3 cents to 60 cents, Express Catering picked up 18 cents and exchanged 2,110 shares to close at $3.18.  Fontana finished 35 cents higher at $4.80 with 263,143 stock units trading, Fosrich advanced 10 cents to $2.60 in the exchange of 4,000 units, General Accident gained $1.22 to end at $5.72, after trading 31 shares. GWest Corporation dipped 5 cents in trading of 788 units at 80 cents, Honey Bun closed 10 cents higher at $6, with an exchange of 14,647 stock units, Indies Pharma swapped 423,719 stock units and added 3 cents to settle at $2. ISP Finance climbed 50 cents to $13.50 with 5,000 stock units changing hands, Jamaican Teas picked up 1 cent and exchanged 122,528 shares at $4, Jetcon Corporation traded 29,000 shares after rising 10 cents to end at $1.10. Key Insurance closed 30 cents higher at $2.30 with 2,000 stock units trading, Knutsford Express climbed $1 to settle at $8 with 43,905 shares changing hands, Lasco Distributors fell 2 cents in trading of 54,677 units at $2.98. Lasco Manufacturing gained 15 cents and exchanged 272,661 shares at $2.90, Limners and Bards advanced 26 cents in trading 418,392 units to end at $2.06, Lumber Depot concluded market activity exchanging 883,100 shares to close at $1.15 after falling 6 cents. MailPac traded 310,705 shares after rising 10 cents to end at $1.60, Main Event gained 1 cent to settle at $4.51 in the trading of 70,148 shares, Medical Disposables exchanged 8,237 shares after rising 1 cent to $6.51 and Stationery and Office Supplies shed 30 cents to close at $5.70 with 9,938 units crossing the exchange.
In the Junior Market preference segment, Derrimon Trading swapped 2,300 shares, after rising 15 cents to end at $1.80.

Prices of securities trading for the day are those at which the last trade took place.

Carib Producers & RJR lead IC TOP 10

The IC Insider.com TOP 10 stocks return, with earnings per share based on the profit of companies reporting full year’s results for the new financial year that ends after the second quarter of this year up to the second quarter in 2021.
Major uncertainties abound about the local and global economy and how each company may be affected. It is not possible to determine the exact fall out from the crisis and the impact on company earnings. Accordingly, actual earnings could vary materially from IC Insider.com’s forecast. In this regard, investors need to be alert to new information that will come to the fore on an ongoing basis and be prepared to adjust their investment decisions as time passes.
Where there are major uncertainties, there is the possibility of outlandish gains accordingly. Investors should be looking beyond just the immediate situation and identify companies that are financially strong to withstand the current cut in revenues but will make a strong recovery by 2021. The three top Junior Market selections are Caribbean Producers, KLE Group and Lasco Financial with the potential to gain between 320 to 600 percent by 2021. In the Main Market, Radio Jamaica leads the pact followed by Berger Paints then Eppley with projected gains of 149 to 200 percent.
The Jamaica stock market suffered sustained pressure during March, leading to one of the most rapid falls in stock prices in the history of the market. In the past week, prices have bounced with the Main Market putting in strong gains on Thursday and Friday, but the market index is down by a sizeable 29.5 percent year to date.
The market suffered from a large amount of money that went towards buying shares in Trans Jamaica Highway. At the same time, investors were concerned about the effects the Coronavirus could have on the economy and stocks in particular. Finally, prices fell so far that lenders make margin calls on investors who borrowed money on margin, resulting in selling shares to cover the shortfall at low prices to realize cash to pay down loans.
Trans Jamaica Highway shares were listed on the market on Tuesday. That gave some investors the opportunity to raise over $223 million in cash to reinvest in the market along with refunds from the oversubscription in the IPO.
The current year has changed markedly as the Corona Virus impact on countries worldwide has been significantly disruptive, inflicting significant damage to the individuals, businesses and economies.  With the wipeout of fiscal deficits and debt to GDP set to be below 90 percent, the Jamaican economy is in a far better place than at the time of the 2008 crisis that severely tested the country and led to many measures that severely affected the economy from then until 2016.
The current situation of job losses worldwide will lead to lower inflows of export earnings for Jamaica from goods and services. Currently, the tourist industry is at a standstill. There are no clear indications when operations resume and what will the level of support be from guests. The effect of the downturn in the economy will affect companies to differing degrees. Some companies with early 2020 year-ends will not have the same impact on reported results and stock prices. With prices having fallen sharply, investors have an excellent opportunity to get back in and make a bundle in the next two years or so. The key to coming out big winners is to understand how the effects on each company and the timeframe.
With the tourism industry virtually closed, companies heavily dependent on the industry will have little or no sales for a while from March. The Group consists of Caribbean Producers, Dolphin Cove, Everything Fresh and Express Catering. Entertainment company Main Event and restaurant operator KLE Group will be hurt from patrons staying home as well as fewer tourists visiting Montego Bay and patronizing the restaurant in that town. Some major contributors to the tourism market are Grace, Jamaica Broilers and Wisynco. The results for some companies are hit by falling stock and bond prices. The results for the 2020 first quarter will show the impact of the recent market decline. The latter includes JMMB Group, Proven, NCB Financial Group, Barita Investments, VMBS Investments, Jamaican Teas, QWI Investments and Sagicor Group. Banks may have to increase loan loss provisions as businesses encounter cash flow problems and defaulting on loan payments.
The targeted average PE ratio is 20, with both the Junior and Main markets currently trading well below this level. The JSE Main Market ended the week, with an overall PE of 8 and the Junior Market a mere 8.5, based on current 2020 earnings. The PE ratio for Junior Market Top 10 stocks averages 4.7 with the Main Market at 8.
The TOP 10 stocks now trade at a discount of 45 percent of the average for Junior Market and Main Market stocks trade at a discount of 33 percent to the overall market. The average projected gain for the IC TOP 10 stocks is 377 percent for the Junior Market and 153 percent for the JSE Main Market, based mostly on 2020 earnings.
IC TOP 10 stocks are likely to deliver the best returns to March 2021. Forecasted earnings and PE ratio for the current fiscal year are in determining potential gains. The ranking of stocks is in order of likely increases, with the highest-ranked, being the most attractive. Expected values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.

Persons who compiled this report may have an interest in securities commented on in this report.

Good week for JSE Junior Market

The Junior Market of the Jamaica Stock Exchange bounced for five trading days out of the last seven and closed the week on a strong note with 34 securities changing hands and leading to the prices of 21 securities rising, while eight declined and five remained unchanged.
The Junior Market Index advanced by 50.32 points to close at 2,144.08 after an exchange of 3,982,260 units accounting for $9,382,200 compared to 4,329,260 units valued at $9,680,619 on Thursday.
Trading ended with an average of 117,125 units for an average of $275,947 in contrast to 108,232 units for an average of $242,015 on Thursday. The average volume and value for the month to date amounts to units 215,698 valued at $506,536 and previously 220,993 units valued at $518,921. In contrast, February closed with an average of 167,673 units valued at 488,038 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows five stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close of the market, AMG Packaging declined 14 cents in trading of 23,450 units at $1.51, CAC 2000 ended market activity exchanging 3,000 shares to close at $10 after falling $1.40, Caribbean Cream ended trading with 15,433 shares, after rising 65 cents to end at $2.76. Caribbean Flavours ended with a loss of $1 at a 52 weeks’ low of $9 with 1,106 stock units changing hands, Caribbean Producers declined 25 cents in trading 98,606 units at $2.25, Elite Diagnostic climbed 15 cents and exchanged 57,904 shares at $2.75. Everything Fresh closed with a loss of 3 cents at 57 cents in swapping 10,000 shares, Express Catering ended trading with 69,873 shares, after rising 10 cents to end at $3. Fontana closed 20 cents higher at $4.45, with 189,405 stock units changing hands. Fosrich closed 25 cents higher at $2.50, in trading 1,000 stock units, General Accident declined by 5 cents to settle at $4.50 trading 44,789 shares, GWest Corporation closed 13 cents higher at 85 cents, with 9,824 stock units changing hands. Honey Bun ended trading 32,000 shares, after rising 20 cents to close at $5.90, iCreate ended with 19,557 shares crossing the exchange, after rising 5 cents to end at 50 cents. Indies Pharma climbed 47 cents and exchanged 370,612 shares at $1.97, Iron Rock Insurance climbed 45 cents to $3.45, in swapping 1,000 units, ISP Finance lost $1 to close at $13 with 5,000 stock units changing hands. Jamaican Teas gained 6 cents and exchanged 16,160 shares at $3.99, Knutsford Express gained $1 to end at $7, with 1,740 stock units trading. KLE Group closed trading of 1,000 units and gained 4 cents to end at $1.25, Lasco Distributors added 10 cents in exchanging 537 shares at $3, Lasco Manufacturing lost 90 cents in trading of 1,457,018 units at $2.75. Lumber Depot rose 1 cent, transferring 787,765 shares at $1.21, MailPac closed trading of 451,161 units and gained 9 cents to end at $1.50, Main Event jumped 65 cents and closed at $4.50 after transferring 27,477 units. Medical Disposables climbed 80 cents and exchanged 14,650 shares at $6.50, Stationery and Office Supplies traded 2,112 shares, after rising 20 cents to end at $6 and tTech closed 75 cents higher at $4.25, with 50,000 stock units changing hands.

Prices of securities trading for the day are those at which the last trade took place.

All but one Junior Market stock trade

Stability seems to be settling into the Junior market after sharp sell-off.

Trading on the Junior Market of the Jamaica Stock Exchange settled on Thursday with Index falling 20.09 points to close at 2,093.76 as 40 securities changed hands, leaving just one ordinary listing that had no trading. At the close of market activities, the prices of 17 securities advanced, 18 declined and five remained unchanged.
At the close, market activity resulted in an exchange of 4,329,260 units valued at $9,680,619 compared to 2,522,568 units valued at $6,848,779 on Wednesday and the average PE ratio of the market reached 9.8 times 2019 earnings at the close.
Trading ended with an average of 108,232 units for an average of $242,015 in contrast to 78,830 units for an average of $214,024 on Wednesday. The average volume and value for the month to date amounts to units 220,993 valued at $518,921 and previously 228,599 units valued at $537,599. In contrast, February closed with an average of 167,673 units valued at $488,038 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows five stocks ended with bids higher than their last selling prices and four with lower offers.
At the close of the market, Access Financial fell 9 cents in trading of 17,601 units at $18.31, AMG Packaging climbed 35 cents and exchanged 10,515 shares at $1.65, Blue Power ended trading with 41,806 shares, after rising 31 cents to end at $4. CAC 2000 lost $1.10 in trading 700 stock units to close at $11.40, Cargo Handlers picked up 90 cents exchanging 3,301 shares at $6, Caribbean Brokers lost 1 cent to end at $1.97 with 26,640 stock units changing hands. Caribbean Producers closed trading of 196,025 shares and gained 17 cents to end at $2.50, Consolidated Bakeries shed 2 cents to settle at $1.46, after transferring 4,740 units, Dolphin Cove ended trading with 3,508 shares, after rising 10 cents to end at $6.50. Derrimon Trading ended with a loss of 1 cent at $1.46 with 5,000 stock units changing hands, Elite Diagnostic closed 30 cents lower to settle at $2.60 with an exchange of 52,000 shares, Express Catering shed 30cents in trading of 92,892 units at $2.90. Fosrich closed with a loss of 25cents at $2.25, swapping of 11,111 shares, Fontana gained 25 cents and exchanged 712,569 shares at $4.25, General Accident closed 55 cents higher at $4.55, with 56,268 stock units trading. GWwest Corporation closed trading of 35,075 units and gained 2 cents to end at 72 cents, Honey Bun lost 30cents in exchanging 31,546 units at $5.70, Indies Pharma closed with 31,960 shares, crossing the market after rising 25 cents to end at $1.50. IronRock Insurance closed trading of 5,365 units and gained 70 cents to end at $3, Jamaican Teas lost 3 cents to settle at $3.93 after transferring 10,766 units, Jetcon Corporation shed 3cents to close at $1, with an exchange of 90,061 shares. Key Insurance ended with a loss of 1 cent at 2 with 80,000 stock units changing hands, KLE Group closed with 47,367 shares, changing hands after rising 1 cent to end at $1.21, Knutsford Express ended with a loss of $1 to finish at $6 with 3,211 stock units changing hands. Lasco Distributors shed 10 cents in trading of 30,601 units at $2.90, Lasco Financial climbed 5 cents and exchanged 344,486 shares at $2.55, Lasco Manufacturing rose 15 cents and transferred 40,200 shares at $3.65. Limners and Bards lost 5 cents in trading 209,671 shares to close at $1.80, Lumber Depot closed 5 cents higher at $1.20, with 1,302,525 stock units trading, MailPac ended with 402,140 shares crossing the exchange, after rising 4 cents to end at $1.41. Main Event declined by 65 cents in trading of 69,210 units at $3.85, Medical Disposables ended market activity exchanging 72,841 shares to close at $5.70 after falling 40cents, Paramount Trading closed 8 cents higher at $1.98, with 4,000 stock units trading. Stationery and Office Supplies picked up 30 cents and exchanged 6,782 shares at $5.80 and tTech ended market activity trading 5,000 shares to close at $3.50 after falling 20 cents.

Prices of securities trading for the day are those at which the last trade took place.

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