Market jumps 1,213 pts on low volume

February 23, 2015 by

Scotia Group closed higher at the close & helped to push market up on Monday

Scotia Group closed higher at the close & helped to push market up on Monday

The Jamaica Stock Exchange’s combined index rose 1,213 points and the all Jamaica Composite index closed on Monday at the highest level since it closed on July 25 2013, at 88,373.07. The all Jamaican Index is just a little more than 3,300 points from potential resistance at 91,721.24, the January, 2013 high. Gains in mainly, National Commercial Bank and Scotia Group contributed most to the increase. The market closed with the prices of 8 stocks rising, 3 declining as 23 securities changing hands, ending in 2,662,361 units trading, valued at $10,270,385, in all market segments.
Main Market| The JSE Market Index gained 1,383.93 points to 79,880.82, the JSE All Jamaican Composite index rose 1,547.29 points to close at 88,028.76 and the JSE combined index gained 1,212.61 points to close at 81,799.28.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 8 stocks with bids higher than their last selling prices and 3 stocks with offers that were lower.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Jamaica Money Market Brokers ending trading 15,714 ordinary shares while gaining 3 cents to $6.93. National Commercial Bank closing with 10,450 shares to end with an increase of 98 cents to $22, Radio Jamaica closing with 66,000 shares, the price inched up 5 cents to $1.35 and Scotia Group finishing with only 2,750 shares to end with an increase of 65 cents at $21.
JSE sum 23-2-15 Firm| The stocks in the main market to close without a change in the last traded prices are, Cable & Wireless with 43,379 shares changing hands, closed at 48 cents. Carreras closing with 2,370 shares trading and ended at $44.50, Grace Kennedy closed with 6,750 units trading at $60, Jamaica Broilers had 45,000 shares changing hands at $4.02, Jamaica Producers ending with 1,798 shares trading at $17, Mayberry Investments finished with 1,800 shares changing hands to close $1.95, Proven Investments ending with 17,450 shares trading, to finish at 18.5 US cents and Sagicor Group finishing with 410,514 units trading at $10.25.
Declines| The only stocks closing with a loss at the end of trading in the main market is, Sagicor Real Estate Fund closed with 18,070 shares trading lower by 10 cents to $6.70.
Preference| Jamaica Money Market Brokers 7.50% preference share traded 1,596,100 units at $2.

Filed Under: JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , ,

Carreras hits back on Friday

February 20, 2015 by

Carreras280x150Carreras stock gained $2.48 to close at $44.50 on Friday as activity on the Jamaica Stock Exchange, resulted in the prices of 6 stocks rising and 7 declining as 19 securities changed hands, ending in 2,331,425 units trading, valued at $12,830,920, in all market segments.
Main Market| The JSE Market Index gained 172.87 points to 78,496.89, the JSE All Jamaican Composite index rose 193.27 points to close at 86,481.47 and the JSE combined index advanced by 232.28 points to close at 80,586.67.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 9 stocks with bids higher than their last selling prices and 5 stocks with offers that were lower.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Carreras jumped $2.48 ending at $44.50 while trading 16,258 units, Jamaica Broilers in concluding trading closed with 2,000 shares changing hands, the price gained 2 cents to $4.02, Jamaica Money Market Brokers closing with 3,180 ordinary shares gained 10 cents to $6.90, National Commercial Bank ended trading with 44,457 shares while gaining 2 cents to $21.02 and Scotia Group closing with 290,489 shares to end with an increase of 5 cents at $20.35.
JSE sum 20-2-15 Firm| The stocks in the main market to close without a change in the last traded prices are, Desnoes & Geddes had 52,000 shares changing hands to close $5, Sagicor Group ending with 9,500 units traded at $10.25 and Scotia Investments finishing with 26,090 shares at $23.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Caribbean Cement closing with 4,800 shares, trading 2 cents lower, to $2.61. Grace Kennedy in trading 11,076 units, slipped 1 cent to $60, Mayberry Investments closing with 30,000 shares changing hands, 2 cents lower to $1.95 and Proven Investments closing with only 875 units, to end down 0.5 cent at 18.5 US cents.
Preference| Jamaica Money Market Brokers 7.50% preference share finished with 1,151,000 shares changing hands at $2 and Jamaica Money Market Brokers 8.75% preference share ending with 61,000 units trading at $3.03.

Filed Under: JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , ,

7 stocks rise 4 declined on JSE

February 19, 2015 by

Thursday’s activity on the Jamaica Stock Exchange, resulted in the prices of 7 stocks rising, 4 declining as 22 securities changed hands, ending in 2,265,968 units trading, valued at $19,839,480, in all market segments.
JSE sum 19-2-15 Main Market| The JSE Market Index lost 387.09 points to 78,324.02, the JSE All Jamaican Composite index fell 432.78 points to close at 86,288.20 and the JSE combined index declined by 364.13 points to close at 80,354.39.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 5 stocks with bids higher than their last selling prices and 2 stocks with offers that were lower.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Berger Paints concluding trading with 3,349 shares while gaining 1 cent to $1.57, Caribbean Cement closing with 4,500 shares as the price jumped at 3 cents to $2.63, Desnoes & Geddes ended trading with 2,565 shares while gaining 8 cents to $5. Gleaner closing with 15,857 shares while gaining 2 cents to 83 cents, Mayberry Investments finished with 6,017 shares as the price jumped 1 cent to $1.97 and Scotia Group in trading 22,050 shares to end with an increase of 24 cents to $20.30.
Firm| The stocks in the main market to close without a change in the last traded prices are, Cable & Wireless closing with 295,128 units, trading at 48 cents, Jamaica Broilers with 34,058 shares trading at $4, National Commercial Bank finishing with 30,750 units trading at $21. Pan Jamaican Investment ending with 100 shares changing hands at $53.50, Sagicor Group finishing with 1,519,267 units traded at $10.25, Sagicor Real Estate Fund ended trading with 4,470 shares at $6.80 and Scotia Investments closing with 4,000 units to close at $23.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Carreras closing with 34,036 units 98 cents lower, at $42.02, Jamaica Money Market Brokers with 93,900 shares trading, closed 10 cents lower, at $6.80 and Supreme Ventures finishing with 8,500 units trading, the price slipped 15 cents to $1.85.
Preference| Jamaica Money Market Brokers 8.75% preference share closed with 50,000 shares changing hands to close $3.03 and Jamaica Money Market Brokers 7.50% preference share ending with 46,000 shares trading at $2.

Filed Under: JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , ,

JSE down slightly on Monday

February 16, 2015 by

Monday’s activity on the Jamaica Stock Exchange, resulted in the prices of 4 stocks rising, 4 declining as 19 securities changed hands, ending in 1,741,667 units trading, valued at $9,054,163, in all market segments.
JSE sum 16-2-15 Main Market| The JSE Market Index lost 83.66 points to 78,847.38, the JSE All Jamaican Composite index fell 93.53 points to close at 86,873.33 and the JSE combined index declined by 32.84 points to 80,920.42.
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 5 stocks with offers that were lower.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Carreras concluding trading with 66,390 shares while gaining 50 cents to $44.50 and Scotia Group closing with 39,800 shares while gaining 5 cents to $20.15.
Firm| The stocks in the main market to close without a change in the last traded prices are, Cable & Wireless closing with 252,950 units trading at 53 cents, Caribbean Cement closing with 1,000 shares changing hands at $2.50, Jamaica Broilers finished with 118,353 units trading at $4, National Commercial Bank finished with 79,044 units traded at $22, Pan Jamaican Investment closed with 550 shares at $53.50 and Sagicor Real Estate Fund closed with 2,000 units to close at $6.80.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Jamaica Money Market Brokers closed with 62,750 ordinary shares trading, the price slipped 20 cents to $6.90, Proven Investments trading 11,000 shares, trading lower by 0.2 cents to 19 US cents, Sagicor Group closed with 3,200 shares changing hands to close 15 cents to $10.25 and Supreme Ventures finished with 979,860 units trading to end at 20 cents to $2.

Filed Under: JSE Main Market, Stock Market Tagged With: , , , , , , , , , , ,

Is Carreras set for price rise?

February 14, 2015 by

CravenAA price increase cannot be far away for cigarettes sold by Carreras, with margins under pressure flowing mainly from slippage in the value of the Jamaican dollar taking a toll on the margins, since the last price increase in 2013.
With the squeeze in margin, sales also fell in the December quarter by 11 percent, bringing the year to date sales increase to only 5 percent. Cost slipped 1 percent in the December quarter, with a sharp reduction of 57 percent in sales and marketing cost for the quarter and 24 percent for the year to December. Administrative cost jumped 22 percent for the quarter and 16 percent for the nine months. The decline in sales may just be a normalisation in sales. In the past, there was speculation around the end of each year that the company will increase the price of cigarettes which encouraged the trade to stockpile ahead of such price movements and profit from it.
Carreras has entered into an agreement to sell the factory location that it operates from in Spanish Town to Kingston. Cost is expected to decline as a result and should ease some of the pressure on the bottom line. Those savings will be inadequate to cover the fall in gross profit suffered in the December quarter of more than $220 million.
Car 12-15At the end of the year the cigarette marketers, reported profit of $763 million for the quarter and $1.97 billion for the nine months to December earnings per share for the quarter amounted to $1.57 and $4.05 for the nine months and is on target to hey close to $6 per share from continuing operations. During 2013 the company booked a large gain for interest due on debt owed to them by the tax authorities. Investors should expect high dividend payment and periodic spurt in profits after the company adjust prices higher. Price has been on the move since bottoming at $32 last year and is now at $44 but seems headed higher in the months ahead as interest rates continue to fall.

Filed Under: Company News, Company Results Tagged With:

NCB at yearly high as 14 JSE stocks rose

February 13, 2015 by

NCB hits a new 52 weeks' high on Friday when it closed at $22.

NCB hits a new 52 weeks’ high on Friday when it closed at $22.

The Jamaica Stock Exchange closed the week with the prices of 14 stocks rising, 4 declining as 27 securities changed hands. Two stocks closed at new 52 weeks’ high, with National Commercial Bank ending at $22 after adding $1.50. Trading end with 1,883,471 units changing hands, valued at $28,049,091, in all market segments.
Main Market| The JSE Market Index gained 698.13 points to 78,931.04, the JSE All Jamaican Composite index rose 780.53 points to close at 86,966.86 and the JSE combined index climbed 769.94 points to 80,887.58.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 10 stocks with bids higher than their last selling prices and only 2 stocks with offers that were lower.
Gains| Stocks gaining, with their last traded prices at the end of trading in the main market are, Cable & Wireless, closing with 12,200 shares, changing hands while gaining 3 cents to 53 cents. Caribbean Cement closing with 3,175 shares, the price inched up 10 cents, to $2.50, Jamaica Money Market Brokers closed with 1,400 ordinary shares trading, while gaining 10 cents to $7.10. Jamaica Stock Exchange ended trading with 24,374 shares while gaining 5 cents, to end at a new 52 weeks high of $2.15, National Commercial Bank finished with 67,130 units trading, $1.50 higher, at a new 52 weeks’ high of $22. Pan Jamaican Investment trading 2,000 units and put on 50 cents to $53.50, Proven Investments closed with 2,500 shares while gaining 0.2 cents 19.2 US cents. Sagicor Group finished with 25,050 shares trading, rising 15 cents to $10.40 followed by Scotia Group that closed with 130,569 units and put on 5 cents to $20.10, Seprod closed with 450 shares to end with an increase of 6 cents to $11.96.
JSE sum 13-2-15 Firm| The stocks in the main market to close without a change in the last traded prices are, Berger Paints ending trading with 7,503 shares changing hands, to close at $1.56. Grace Kennedy closing with 200 shares trading at $60, Jamaica Broilers finishing with 231,182 units trading at $4 and Radio Jamaica finished with 29,690 units traded at $1.10.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Carreras ending with 463,976 units trading as the price slipped 50 cents to $44, Kingston Wharves closed with 11,700 shares changing hands, 40 cents down to $5.60 and Sagicor Real Estate Fund finished with 50,100 units trading to end 15 cents lower to $6.80.
Preference| Jamaica Money Market Brokers 8.75% preference share ended trading with 10,000 shares to close lower by 7 cents to $3.03 and Jamaica Money Market Brokers 7.50% preference share had 762,000 units changing hands at $2.

Filed Under: JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , ,

12 stocks rose 5 fell on JSE Wednesday

February 11, 2015 by

Carreras closed at a new 52 weeks' high on Wednesday as investors pushed the stock to $45 at the close.

Carreras closed at a new 52 weeks’ high on Wednesday as investors pushed the stock to $45 at the close.

Wednesday’s activity on the Jamaica Stock Exchange, resulted in the prices of 12 stocks rising, 5 declining as 25 securities changed hands, ending in 7,797,647 units trading, valued at $31,654,420, in all market segments.
Main Market| The JSE Market Index gained 493.53 points to 78,307.17, the JSE All Jamaican Composite index rose 551.80 points to 86,269.36 and the JSE combined index gained 431.35 points 80,233.08.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 10 stocks with bids higher than their last selling prices and 3 with offers that were lower.
Kingston Properties closed up 50 cents to $7.50 on Wednesday

Kingston Properties closed up 50 cents to $7.50 on Wednesday

Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Caribbean Cement closing with 36,956 units while gaining 16 cents to $2.41. Carreras closed with 57,242 units with a gain of $2 to a new 52 weeks’ high of $45, Kingston Properties closing with 100,000 shares trading 50 cents higher to $7.50, National Commercial Bank ended trading with 23,030 shares with an increase of 5 cents to $20.50. Radio Jamaica closing with 2,405 shares while gaining 1 cent to $1.11, Sagicor Group finishing with 448,735 shares as the price moved up 5 cents, to $10.30 and Sagicor Real Estate Fund trading 45,120 shares to end with an increase of 10 cents to $6.80.
Firm| The stocks in the main market to close without a change in the last traded prices are, Cable & Wireless closed with 13,017 shares changing hands to close at 50 cents, Grace Kennedy had 32,532 units trading at $60, Jamaica Broilers closed with 11,229 shares changing hands at $4.05, Jamaica Money Market Brokers ending with 2,369 shares trading at $7, Mayberry Investments ending with 3,765 units trading at $2, Pan Jamaican Investment finished with 43,700 shares changing hands at $53.
JSE sum 11-2-15rv Declines| The last traded prices of stocks with losses at the close of the main market are, Desnoes & Geddes closing with 6,000 units, the price slipped 3 cents to $4.82, Proven Investments finishing with 120,400 units, ended 1 cent down to 19 US cents and Scotia Investments in trading 10,400 shares closed lower by 44 cents, to $22.56.
Preference| Brokers 8.75% preference share ended trading with 1,040,303 units changing hands and gained 8 cents to $3.10, a 52 weeks’ high and Jamaica Money Market Brokers 7.50% preference share finished with 716,489 units trading at $2.

Filed Under: JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , ,

Carreras’ owners enjoying dividends

February 11, 2015 by

Carreras280x150 Carreras declared an interim dividend of $1.60 per share payable on March 12, 2015 to shareholders on record as at February 20. The stock will traded ex-dividend on February 17.
The company last paid dividend of $1 per stock on December 18, and an interim dividend of $1.20 per stock unit on December 11, 2014. The payment will bring to total for 2014 to $8.09 for a return of 22 percent for the year based on the stock price of $36.75 at the end of 2013.
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. On March 13, 2014 they paid $1.62 per share.
A special capital cash distribution of $1.34 per stock unit was paid on July 31 and a special capital cash distribution of $1.18 was last paid on January 30, last year. The company still has more capital distributions to make when they receive the proceeds from the sale of the property in Twickenham Park which is sold at $395 million before transfer cost and the balance of funds due from the tax authorities for over payment of company taxes which amounted to $940 million at the end of September, last year.
The stock traded as high as $45 on Wednesday February 11, on the Jamaica Stock Exchange.

Filed Under: Company News, Dividends Tagged With: ,

8 JSE stocks rise 4 down on Tuesday

February 10, 2015 by

Carreras closed at a new 52 weeks' high of $43 on Tuesday.

Carreras closed at a new 52 weeks’ high of $43 on Tuesday.

Tuesday’s activity on the Jamaica Stock Exchange picked up somewhat from Monday’s poor showing but it still remains at extreme low levels, and resulted in the prices of 8 stocks rising, 4 declining as 24 securities changed hands, ending in 2,488,709 units trading, valued at $9,886,268, in all market segments.
Main Market| The JSE Market Index lost 136.66 points to 77,813.64, the JSE All Jamaican Composite index fell 152.80 points to close at 85,717.56 and the JSE combined index declined by 61.43 points to close at 79,801.73.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 10 stocks with bids higher than their last selling prices and 3 stocks with offers that were lower.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Cable & Wireless closing with 456,902 shares trading, rising 5 cents to 50 cents, after the parent company indicated that revenues climbed 27 percent in the December quarter for the Jamaican subsidiary. Carreras closed with 61,408 units and put on $1 to close at a new 52 weeks’ high of $43, Grace Kennedy ending trading with 16,643 shares and increased 5 cents to $60, National Commercial Bank closing with 12,697 shares while gaining 5 cents to $20.45, Sagicor Real Estate Fund finished with 17,000 shares as the price jumped 5 cents to $6.70 and Scotia Investments in trading 7,733 shares, ended with an increase of 45 cents to $23.
JSe sum 10-2-15 Firm| The stocks in the main market to close without a change in the last traded prices are, Berger Paints trading as 3,000 shares changed hands at $1.56, Caribbean Cement finishing with 5,624 shares changing hands at $2.25, Kingston Wharves trading 239,137 shares and closed at $6. Palace Amusement finished with 3,000 units trading at $66, Pan Jamaican Investment closed with 9,450 units at $53 and Sagicor Group ending trading with 16,470 shares changing hands at $10.25.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Jamaica Broilers closing with 37,000 shares, 14 cents lower to $4.05. Proven Investments ending trading with just 1,548 shares, 1.02 cents down to 20 US cents, Salada Foods closing with just 100 units to fall 9 cents to $10.30 and Scotia Group finishing with 15,656 units with a 15 cents decline to $20.35.
Preference| Jamaica Money Market Brokers 7.50% preference share closed with 778,511 units trading at $2.

Filed Under: JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , ,

Carreras fetches $395m for property

February 10, 2015 by

Property that Carreras previously occupied, now sold for $395m

Property that Carreras previously occupied, now sold for $395m

Carreras sold its property at 15 Twickenham Park Estate for $395 million, the company disclosed in a release to the Jamaica Stock Exchange on Monday. The company stated that the decision to relocate it business to Kingston “is consistent with Carreras’ shift from a manufacturing company to a marketing and distribution company, which naturally resulted in the current location, previously a manufacturing facility, being under -utilised and far exceeding our current space requirement. We therefore decided to sell this property at and have entered into an agreement to sell the said property for Three Hundred and Ninety Five Million Dollars. The sale is scheduled to be completed on March 10, 2015.”
Shareholders who have been enjoying a bumper period of high returns on their shares since 2014, should see another pay out from the net proceeds of this sale.

Filed Under: Breaking News, Company News, General Business News Tagged With: