Activity on the Jamaica Stock Exchange, resulted in the prices of 10 stocks rising, 13 declining as 33 securities changed hands, ending in 9,407,399 units trading, valued at $83,136,775, with 4 stocks closing at 52 weeks’ high, in all market segments.
The JSE Market Index lost 787.71 points to 98,401.83, the JSE All Jamaican Composite index declined 880.45 points to close at 108,925.75 and the JSE combined index dropped by 631.19 points to end at 100,937.41.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 15 stocks with bids higher than their last selling prices and 9 with offers that were lower. The indication is for fluidity in price movements on Thursday and the likelihood of declining stocks out numbering advancing ones.
In trading, Berger Paints traded 71,289 units at $3, Caribbean Cement had 201,560 units trading at $5 after dropping 10 cents. Interestingly, even as Cable & Wireless posted a large loss after taking a $7 billion one off extra ordinary expense hit, the stock traded 649,000 units between 50 cents and the closing price of 48 cents, the same as on Tuesday. Carreras traded 483,380 units at $50, after falling $1.50, Gleaner Company had 219,403 shares trading at $1, Hardware & Lumber closed with 38,638 shares trading unchanged at $18, Jamaica Broilers having 2,428,147 units trading with the price holding at $5.18 after slipping from $5.50 earlier in the day, to end the day down 7 cents. JMMB Group lost 79 cents while it traded 1,130,033 units as the price closed at $7.71, following poor profit results in the final quarter of the fiscal year to March. Mayberry Investments had 1,099,821 units trading 4 cents lower at $3.05. One million units of the stock were sold by JMMB Securities and Mayberry bought them for in house purposes. National Commercial Bank ended with 81,153 units changing hands 35 cents down at $29.55, Pan Jamaican Investment traded 4,078 units 2 cents higher for a new 52 weeks’ high of $60.52. Sagicor Group had 1,199,248 shares trading at $12, after slipping 5 cents, Scotia Group had 315,085 units changing hands to end 250 cents higher at $25.50 and Jamaica Money Market Brokers 7.50% preference shares closed with 295,000 units trading to end at $2.11.
Declining stocks outpace advancers
All Jamaica below 110,000 at 11:30am
The Jamaica Stock Exchange is trading with some fair volume with Jamaica Broilers having 1,568,877 units trading with the price holding at $5.50 and JMMB Group with 1,126,033 units but the price slipped to $8, following poor profit results in the final quarter of the fiscal year to March. Mayberry Investments had 1,000,000 units trading at $3.15, the stock was sold by JMMB Securities and Mayberry bought them for in house purposes. Carreras traded 300,000 units at $50, Sagicor Group had 485,070 shares trading at $12.15, Scotia Group had 255,085 units changing hands at $25.50. Interestingly, even as Cable & Wireless posted a bad loss after taking a $7 billion one off extra ordinary expense hit the stock traded 327,000 at 50 cents. Cargo Handlers trades at a new high of $22.48 by adding 19 cents in trading 102,900 units and Caribbean Cream traded 100,000 units at a new high of $1.35.
15 stocks rose 10 declined on JSE
TheJSE Market Index lost 484.92 points to 99,189.54, theJSE All Jamaican Composite index fell 542.01 points to close at 11109,806.20 and the JSE combined index gained 850.26 points to end at 101,568.60.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 14 stocks with bids higher than their last selling prices and 3 with offers that were lower.
Market activity saw, Cable & Wireless ending with 1,359,285 shares to close at 48 cents, after losing 2 cents but the stock traded as low as 45 cents after the company reported a huge $9 billion loss including an exceptional charge of $7 billion, after trading closed on Monday. Caribbean Cement had 70,900 shares trading at $5.10, to record a gain of 10 cents. Carreras traded of $51.50 and lost 50 cents but with just 6,272 shares, Desnoes & Geddes had 38,161 units changing hands at $7.50, for a loss of 5 cents, Hardware & Lumber traded 72,196 shares between a new intra-day high of $19 and the closing price of $18, Jamaica Broilers traded 206,666 units to close at $5.25 with a 30 cents loss. Jamaica Stock Exchange traded 5,000 units at a new high of $4.80 after gaining 30 cents. JMMB Group gained 5 cents, with 14,350 shares to close at $8.50. Mayberry Investments traded 183,599 units at $3.09, as the price slipped by 1 cent, National Commercial Bank traded 24,497 shares at $29.90 and lost 9 cents, Radio Jamaica traded 100,000 shares to remain unchanged at $3. Sagicor Group had 344,180 units trading 5 cents higher to end at $12.05, the company Real Estate Fund ended with 18,186 units trading down by 8 cents at $7.50. Scotia Group traded 309,997 units at $25.30, Supreme Ventures added 117,357 shares at $3.80. Proven Investments had 40,900 changing hands at 20.99 US cents, Jamaica Money Market Brokers 7.50% preference shares closed with 250,900 units trading at $2.11 and Jamaica Money Market Brokers 8.75% preference shares closed with 147,225 units trading at $3.02.
Main market slips junior up
TheJSE Market Index fell 547.63 points to 99,126.83, theJSE All Jamaican Composite index lost 612.11 points to close at 109,736.10 and the JSE combined index lost 485.94 points to end at 101,383.99 and the junior market index rose 3.35 to 874.63.Thirty three securities traded up to 11 am, including 12 junior market stocks, with Cargo Handlers trading 205,972 units at a new high of $22.29 as Mayberry Investments crossed the shares from their in house inventory to a client. Four new 52 weeks’ highs have been recorded, Hardware & Limber at $19, Jamaica Stock Exchange at $4.80, Cargo Handlers at $22.29 and Derrimon preference shares trading at $2.50.
The preference shares section was active with 4 securities trading as investors seek higher yielding investments.
Market back to pre-crisis levels
Stocks trading at new 52 weeks’ high in the main market are, Carreras traded of $52 to gain $2 but with only 800 shares, Jamaica Stock Exchange, Jamaica Broilers and Pan Jamaican.
TheJSE Market Index gained 908.09 points to 99,674.46, theJSE All Jamaican Composite index climbed 1,015.00 points to close at 110,348.21 and the JSE combined index gained 850.26 points to end at 101,869.93. The close on Monday, places the all Jamaican index back to July 2008 levels.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 11 stocks with bids higher than their last selling prices and 2 with offers that were lower.
Cable & Wireless closed with 341,888 shares trading at 50 cents, Caribbean Cement had 61,057 shares trading at $5, to record a gain of 40 cents. Desnoes & Geddes had 15,250 units changing hands at $7.55, in putting on 12 cents, Jamaica Broilers traded 115,000 units at $5.55 with a 5 cents gain, Jamaica Stock Exchange traded 10,000 units at a new high of $4.50. JMMB Group lost ground by falling 55 cents, with 22,350 shares to close at $8.45 after the investment bank posted earnings of $1.18 per share for the year to March, compared with $1.74 in 2014. The company only made $76 million in the quarter compared to reach $1.93 million compared with $1.85 million at the end of December. Mayberry Investments traded 127,350 units at $3.10, as the price moved up 10 cents, Pan Jamaican Investment traded 6,473 shares at $60.50 to gain 50 cents, for a new 52 weeks’ high. Radio Jamaica traded 55,622 shares and gained 40 cents to close at $3, the company released results of 32 cents per share for the year to March after trading closed compared with 17 cents in 2014. Sagicor Group had 308,000 units trading at the end at $12, the company Real Estate Fund ended with 3,933,104 units trading 7 cents high at $7.58, Scotia Group traded 261,103 units at $25.30 Seprod 23,580 shares as the price slipped 95 cents to $16.55 and Supreme Ventures added 487,217 shares at $3.80.
Buy Rated blooming
Trinidadian stocks have hardly gone anywhere the Jamaican ones are soaring after a long period of drought. There are three triple winners in the main Jamaican market including Hardware and lumber that is up 291 percent since we selected it as Buy Rated. Interestingly, they are no losing stocks in this market. The junior stocks have erased most of the losses suffered earlier and now only two stocks record any losses. Technical indicators are pointing to the Jamaican rally continuing for the rest of the year with lower inflation and interest rates coupled with continued strong profit gains. Trinidad stocks will continue to be under pressure but there are a few severely undervalued ones in that market that could post decent gains in the months ahead.
Access still has further to go as the future looks good for growth in profits but the price of the stock could be trading around current levels for some time but there is limited volumes available, this one becomes a longer term buy with the price where is currently lies. Caribbean Cream and Paramount seems to have quite some gains to deliver in the months ahead as improving results encourage investors to buy into the growth prospects. Lasco Financial could be going anywhere with Mayberry buying 20 percent and buying more in the market of a stock with limited float and Medical Disposables has good potential to deliver a decent gain.
The main market may have had lots of gains so far but there is much more to come from even some of the top performers such as Jamaica Stock Exchange, National Commercial Bank, Caribbean Cement and Carreras to name a few. Over in Trinidad, Guardian Holdings is undervalued but National Flour is severely undervalued, Trinidad Cement is a huge buy with much upside potential especially with debt restructuring leading to lower interest cost and lower energy cost in Jamaica and Barbados.
Carreras pays $2 Mayberry 20 cents
Carreras declared an interim dividend of two dollars ($2) per share unit, payable on June 25, 2015 to shareholders on record as at June 11, 2015. The X-date is June 9. The company paid an interim dividend of $1.60 per share payable on March 12, 2015
Dividends paid prior to the one in March are, $1 per stock on December 18, and an interim dividend of $1.20 per stock unit on December 11, 2014. In September, last year Carreras paid an interim dividend of $1.20 per stock unit, $1.75 per stock unit was paid on June 26. A special capital cash distribution of $1.34 per stock unit was paid on July 31.
Mayberry Investments declared a dividend of twenty cents per share (20 cents), payable on June 17, 2015 to shareholders on record as at June 10, 2015. The X-date is June 8. The company last paid a dividend of 12 cents per share on June 18, 2014.
Board of Directors of JMMB Group will convene a meeting on Monday June 1, 2015 to consider an interim dividend payment to ordinary shareholders.
Jamaica Money Market Brokers the forerunner to JMMB Group last paid a dividend of 16 cents per ordinary on December 16, 2014, prior to that the company paid a dividend of 17 cents per ordinary share on June 26, last year.