Tuesday’s activity on the Jamaica Stock Exchange, resulted in the prices of 8 stocks rising and 9 declining as 27 securities changed hands, ending in 4,235,650 units trading, valued at $51,526,408, in all market segments.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had 3 stocks with bids higher than their last selling prices and 8 stocks with offers that were lower.
Main Market| The JSE Market Index fell 194.52 points to 74,012.60, the JSE All Jamaican Composite index declined 217.50 points to close at 81,467.68 and the JSE combined index dropped 146.86 points to close at 75,883.36.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Jamaica Money Market Brokers, finishing trading with 50,000 ordinary shares, 7 cents higher at $6.57. National Commercial Bank finished trading with 49,500 shares while gaining 1 cent to $18.51, Pan Jamaican Investment saw trading in 4,039 units, to close with a gain of 1 cent to $50.27, Scotia Group 108,965 shares traded at 22 cents higher to close at $19.62 and Supreme Ventures with 74,000 shares changing hands, gained 1 cent to $1.76.
Firm| The stocks in the main market to close without a change in the last traded prices are, Gleaner with 110 shares at $1.05, Jamaica Broilers closing with 501,266 shares changing hands at $4, Jamaica Producers concluded trading with 5,000 shares at $15.50. Kingston Wharves had 4,285 shares changing hands $6, Mayberry Investments ended trading with 74,610 shares changing hands to close at $1.50 and Scotia Investments closed with 30,000 shares at $22.51.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Cable & Wireless finished trading with 1,670,678 units and fell 7 cents to 42 cents, Caribbean Cement concluded trading with 10,728 units with a decline of 1 cent to $2.40, Carreras exchanged 1,128,573 shares in trading, with a loss of $2 to close at $35, for Desnoes & Geddes there was dealing in 145,000 units, to close with a 5 cents fall to $4.85. Grace Kennedy contributed just 1,520 shares to trading but lost of 50 cents to end at $60.50, Palace Amusement concluded trading with 100 units to fall $13 to a 52 weeks’ low of $77, Proven Investments exchanged 80,033 units with a decline of 0.49 cent to 17.5 US cents and Sagicor Group ended trading with 145,000 units, with a decline of 1 cent to $9.99.
Preference| Jamaica Money Market Brokers 8.75% preference share traded with 155 units changing hands with a gain of 1 cent to $3 and Jamaica Money Market Brokers 7.50% finished trading with 14,500 shares trading at $2.
8 up 9 down on JSE
Carreras profit up margin squeezed
Profit at Carreras for the three months to September, is up 26 percent to $614 million, from $485 million in 2013, for the six months growth was less robust, at 20 percent to reach $1.17 billion from $9,71 million.
Revenues recovered considerable grounds, from the lost sales in 2013, from the front loading by merchants of inventories ahead of a pending price increase of cigarettes that the company implemented in March 2013. For the quarter, sales revenues rose 18.5 percent over that of 2013 and 19.3 percent for the six months to September. During last year September quarter, revenues fell 16 percent, so there is still a fall out, but that is usually the case whenever there is sizeable price increase, is effected.
Profit margins got squeezed, rising only 13 percent for the six months and 10 percent in the quarter, no doubt, due to the devaluation of the local dollar and the lack of a price increase so far. Carreras was able to hold cost well below the increased sales revenues for the quarter and year to date. The company is on track to earn somewhere in the region of $6 per share, for the current year and that will help move the price up. The stock remains IC Insider BUY RATED.
Carreras will pay a special capital cash distribution, on December 18, following an interim dividend of $1.20 per stock unit, to be paid on December 11, 2014. The payments will bring to total distribution for 2014 to $8.09.
The stock closed trading on the Jamaica Stock Exchange, at $37 on Friday, putting the PE ratio, at 6 times the current fiscal year earnings.
Rich year for Carreras’ shareholders
Carreras declared yet another dividend payable to shareholder in December, with the latest being $1 per stock unit to be paid out of proceeds received from the liquidation of a subsidiary. The payment is pending the granting of a transfer tax exemption pursuant to the Transfer Tax Act.
The interim special capital cash distribution will be paid on December 18, to stockholders on record as at December 1, 2014. The ex-dividend date is November 27. The distribution follows the interim dividend of $1.20 per stock unit due for payment on December 11, 2014, to stockholders on record at November 20. 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. The stock closed at $37 on Friday on the Jamaica Stock Exchange.
In September, Carreras paid an interim dividend of $1.20 per stock unit, the company also paid an interim dividend of $1.75 per stock unit on June 26. On March 13 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, this year.
Profit up|Carreras just announced results for the six months to September, with an 18.5 percent increase in revenues for the quarter, over that of 2013 and 19.3 percent for the six months, to September.
Profit after tax, rose 28 percent in the quarter, to reach $614 million, up from $485 million in 2013, and for the six months, growth was less robust, at 12 percent, to reach $1.22 billion from $970 million.
Profit margins got squeezed, rising only 13 percent for the six months and 9 percent in the quarter, no doubt due to the devaluation of the local dollar and the lack of a price increase so far. Revenues are recovering from the 2013 price increase, and from the front loading by merchant of inventories ahead of the increase. The company is on track to earn somewhere in the region of $6 per share for the current year, that will help move the price up. The stock remains IC Insider BUY RATED.
NCB pushes market as year-end rally continues
Friday’s activity on the Jamaica Stock Exchange, resulted in the prices of 5 stocks rising and 6 declining as 18 securities changed hands, ending in 3,496,586 units trading, valued at $32,700,014, in all market segments.
National Commercial Bank stole the spotlight trading nearly 600,000 units , with the price closing, $1.05 higher than the previous days close, as investor signal their approval of the details of results for the 2014 fiscal year.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator showed 4 stocks with bids higher than their last selling prices and 7 stocks with offers that were lower.
Main Market| The JSE Market Index gained 268.30 points to 73,504.86, the JSE All Jamaican Composite index rose 300.00 points to close at 80,899.95 and the JSE combined index gained 195.54 points to close at 75,252.16.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Cable & Wireless concluded trading with 1,618,096 shares changing hands, as the price gained 2 cents to 52 cents, Carreras ended trading with 411,367 shares trading, $1.45 higher to $37, Kingston Wharves closed with 50,000 shares traded, while gaining 59 cents to $6. National Commercial Bank finished trading with 591,178 units, to close with a gain of $1.05 at $18.16, as investors responded positively to the bank’s year-end results, showing earnings of $4.73 per share and increase dividend of 96 cents to be paid in December. NCB traded as high as $19 before settling at the lower figure and Scotia Investments saw trading in 12,036 shares, with the price rising 1 cent to $22.01.
Firm| The stocks in the main market to close without a change in the last traded price are, Jamaica Broilers that ended trading with 9,601 shares changing hands at $4, Mayberry Investments ended with 444,013 shares at $1.50 and Scotia Group finished trading with 212,541 shares changing hands at $19.40.
Declines| The last traded prices of stocks with losses, at the end of trading in the main market are, Desnoes & Geddes ending with 3,100 units, the price slipped 5 cents, to $4.90, Grace Kennedy closed with 5,165 shares trading, 50 cents lower, to $61.50, Jamaica Money Market Brokers finished with 16,213 ordinary shares trading, with a loss of 30 cents to $6.50, Proven Investments ended with 12,000 units as the price slipped 0.79 cents to 17.2 US cents and Sagicor Group closed with 56,340 shares, trading 1 cents lower at $9.70.
Preference| Jamaica Money Market Brokers 8.75% preference share traded 15,400 shares at $3.
C&W & declining stocks dominate
Thursday’s activity on the Jamaica Stock Exchange, resulted in the prices of 5 stocks rising and 7 declining, as 19 securities changed hands, ending in 10,308,932 units trading, valued at $11,431,758, in all market segments. Cable & Wireless, continuing to trade in higher than normal volumes this year, accounted for 9.77 million of the volume.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator showed 5 stocks with bids higher than their last selling prices and 6 stocks with offers that were lower, a neutral situation.
Main Market indices| The JSE Market Index gained 153.62 points to 73,236.56, the JSE All Jamaican Composite index rose 171.76 points to close at 80,599.95 and the JSE combined index gained 115.71 points to close at 75,056.62.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Carreras finishing trading with 66,822 shares changing hands, to gain 55 cents at $35.55, Desnoes & Geddes concluded trading with 60,000 shares, 3 cents higher to $4.95, National Commercial Bank ended with 30,960 shares while gaining 10 cents to $17.11, Sagicor Group closed with 10,233 units with a gain of 20 cents to $9.80 and Seprod finished trading with 16,528 units, the price rose 63 cents to $11.88.
Firm| The stocks in the main market to close without a change in the last traded prices are, Berger Paints having 6,363 shares changing hands, to close at $1.60, Grace Kennedy concluded trading with 5,000 shares at $62, Jamaica Broilers exchanged 27,954 shares at $4, Radio Jamaica contributed 5,478 shares, in trading at $1.18 and Supreme Ventures ended trading with 3,000 shares at $1.75.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Cable & Wireless ending with 9,771,352 units, trading between 60 cents and 50 cents, at the close the price slipped 1 cent to 50 cents, as selling increased from Wednesday. The stock traded mostly above 56 cents, but traded 476,700 units at 51 cents and 445,000 units at 50 cents less than 2 minutes from the close, to pull the price down and the end.
Jamaica Money Market Brokers ordinary share, closed with 101,200 units trading to fall 20 cents to $6.80, Jamaica Producers finished with 2,000 shares, loss 1 cent to $15.50 and Scotia Group ended trading with 36,844 units to fall 57 cents to $19.40.
Preference| Jamaica Money Market Brokers 8.75% preference share had 66,000 units changing hands at $3.
Carreras, C&W and Grace dominate JSE
With technical indicators pointing to growth ahead, in the prices main market stocks, trading activity on the Jamaica Stock Exchange, on Wednesday, showed signs of trading picking up, in keeping with what has been known, as the usual year-end rally.
The three main trades today are Cable & Wireless with nearly 23 million shares, in 95 trades, Carreras with 1.7 million shares in 22 trades and Grace with 1.3 million shares with only 3 trades.
At the close, the prices of 5 stocks rose and 5 declined, as 18 securities changed hands, ending in 26,947,786 units trading, valued at $158,583,174, in all market segments.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had 4 stocks with bids higher than their last selling prices and 5 stocks with offers that were lower.
Main Market| The JSE Market Index lost a mere 9.89 points to 73,082.94, the JSE All Jamaican Composite index slipped 11.05 points to close at 80,428.19 and the JSE combined index declined by 10.68 points to close at 74,940.91.
Gains| Stocks recording gains at the last traded prices, at the end of trading in the main market are, Grace Kennedy trading 1,314,690 shares while gaining $3.90 to end at $62 for total consideration of $480,860,780, Kingston Wharves closed with 500 units to close with a gain of 11 cents to $5.41, National Commercial Bank finished trading with 28,822 shares, rising 1 cent to $17.01, Scotia Group saw trading in 2,990 units and put on 22 cents, to $19.97 and Scotia Investments ended with 32,000 shares trading 49 cents higher to $22.
Firm| Stocks in the main market closing without a change in the last traded prices are, Desnoes & Geddes that had 126,100 shares changing hands at $4.92, Jamaica Broilers concluded trading with 81,800 shares, trading at $4, Jamaica Money Market Brokers exchanged 518,134 ordinary shares at $7, Mayberry Investments ended trading in 96,890 shares at $1.50, Pan Jamaican Investment finished trading with 865 shares changing hands at $50.15 and Supreme Ventures finished trading with 2,000 shares at $1.75.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Cable & Wireless closing with 22,917,657 shares trading, 1 cent lower at 53 cents, after opening at 64 cents, Carreras finished with 1,665,948 shares valued at $58,334,031 with a loss of 99 cents to $35, Proven Investments with 12,870 units, declined 0.01 cent to 17.99 US cents and Sagicor Group finished trading with 54,130 units, and declined by 5 cents to $9.60.
Heavy trading in C&WJ shares
In early trading on the Jamaica Stock Exchange, Cable & Wireless was the most active stock trading with more than 9.6 million shares changing hands.
Investors stepped up and bought the stocks as high as 64 cents at the opening of the market, inducing sellers to enter the market at lower levels, pushing the price back down to 54 cents. Increased offers are currently posted for 4.45 million units between 58 and 65 cents. Bids to buy, remain mostly in the low 40 cents region.
Elsewhere Grace traded 1.3 million shares as high as $62, the price is up $3.90 from Tuesday’s close and National Commercial Bank traded 4,848 shares at $17.50 up by 50 cents. Carreras fell 99 cents with 17,680 shares trading, to $35.
The price movements helped to push the All Jamaica Composite index up by 283.67 points, to 80,722.91 at 10.30.
C&W jumps 28% more gains ahead
In Monday’s activity on the Jamaica Stock Exchange, Cable & Wireless traded just 25,000 shares at 41 cents, the highest price the stock could trade at for the day as it gained 28 percent form the last traded price of 32 cents that it traded on Thursday. At the close the bid was at 47 cents with buying for 1,391,360 shares. Just below the highest bids are 7.92 million units on the bid at 41 cents. Supplies that were offered a 50 cents were pulled shortly before trading closed, leaving offers at 60 cents, but the stock cannot trade above 54 cents, on Tuesday.
Trading resulted in the prices of 7 stocks rising and 3 declining as 24 securities changed hands, ending in 2,567,049 units trading, valued at $7,942,673, in all market segments
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had 9 stocks with bids higher than their last selling prices and 3 stocks with offers that were lower.
Main Market| The JSE Market Index lost 185.93 points to 72,656.95, the JSE All Jamaican Composite index fell 207.8 points to close at 79,951.87 and the JSE combined index gained declined by 169.98 points to close at 74,491.53.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Cable & Wireless closed with 25,000 shares changing hands 9 cents higher at 41 cents, Desnoes & Geddes exchanged 9,420 shares while gaining 35 cents higher at $4.95, Pan Jamaican Investment contributed just 1,545 shares traded 50 cents higher at $50 and Scotia Group ended trading with 101,774 units and put on 17 cents to $19.77.
Firm| The stocks in the main market to close without a change in the last traded prices are, Gleaner saw trading in 1,550,630 shares at $1.05, Grace Kennedy ended with 500 units to close at $60, Jamaica Money Market Brokers closed with 47,800 ordinary shares at $7, Jamaica Stock Exchange concluded trading with 792 shares to end at $1.84, Proven Investments contributed 17,000 shares to end at 18 US cents, Sagicor Group ended trading with 24,545 shares at $9.65, Sagicor Real Estate Fund ended trading with 33,650 shares changing hands ended at $6.60 and Supreme Ventures closed with 77,202 shares trading at $1.73.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Ciboney finished trading with 3,000 units to fall 1 cent to 7 cents and Mayberry Investments exchanged 209,025 shares traded with a loss of 1 cent to $1.50.
Preference| Jamaica Money Market Brokers 8.75% preference share finished trading with 193,450 units at $3.
CWJ trade at 37C cancelled on JSE
In Friday’s Jamaica Stock Exchange activity, Cable & Wireless (C&W) that is now in hot pursuit by just about all the brokers, flowing from the release of the announced acquisition of Flows operation worldwide and news of continued strong growth in new cell customers, traded at 37 cents, but did not trade in the end, as the trades were cancelled, having exceeded the maximum level permitted in a day and no sellers prepared to sell below, before trading closed.
At the end of trading, C&W had 9,997,276 units to buy at 36 cents and just under 232,000 units to sell at 50 cents. The market ended with the prices of 7 stocks rising and 7 declining as 23 securities changed hands and 5,811,093 units trading, valued at $41,708,849, in all market segments.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had 10 stocks with bids higher than their last selling prices and 4 stocks with offers that were lower. This positive indicator is in keeping with the technical signal from the main market, showing the short term moving average, crossing over the medium term moving average, amongst other positive indicators.
Main Market| The JSE Market Index lost 59.52 points to 72,842.87, the JSE All Jamaican Composite index fell 66.55 points to close at 80,159.75 and the JSE combined index declined 67.63 points to close at 74,661.51.
Gains| Stocks gaining at the last traded prices, at the close of the main market are, Grace Kennedy ending with 75,798 shares, 50 cents higher at $60, Kingston Wharves closing with 1,345 shares while gaining 15 cents to $5.30, Mayberry Investments saw trading in 106,028 shares while rising 1 cent to $1.51 and Supreme Ventures ended with 48,800 units and put on 3 cents to $1.73.
Firm| The stocks in the main market to close without a change in the last traded prices are, Berger Paints, finishing trading with 36,700 shares, changing hands at $1.60, Desnoes & Geddes concluded trading with 1,984,085 shares at $4.60, but closed with the bid at $4.80, to buy $20,600 shares.There was dealing in 35,462, Jamaica Broilers shares at $4, Jamaica Money Market Brokers contributed 2,158 ordinary shares in closing at $7, Palace Amusement concluded trading with 27,970 shares at $90 and Sagicor Group exchanged 392,771 shares at $9.65.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Caribbean Cement, closed with 10,000 shares, to end 20 cents lower at $2.40, Carreras saw trading in 45,173 units, to end with a decline of 2 cents at $34.48, National Commercial Bank closed with 742,177 shares traded, with a loss of 80 cents to $17 and Proven Investments finished trading with 3,240 units to fall 0.01 cent at 17.99 US cents.
Preference| Jamaica Money Market Brokers 8.75% preference share traded 241,000 units at $3.
A D&G and Cable & Wireless market
Desnoes & Geddes (D&G) with more than 27.3 million shares and Cable & Wireless (C&W) with 7.5 million units trading, dominated Thursday’s activity, on the Jamaica Stock Exchange. Except for less than a few thousand unit virtually all of D&G shares traded, were crosses done by NCB Capital Market. The C&W trade, flowed from increased buying, following the announcement of the takeover of Flow by CWC Communications plc.
At the close of trading, the prices of 4 stocks gained and 4 declined as only 14 securities changed hands, ending in 35,240,771 units trading, valued at $129,810,630, in all market segments.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had 9 stocks with bids higher than their last selling prices and 6 stocks with offers that were lower.
Main Market| The JSE Market Index fell 350.96 points to 72,902.39, the JSE All Jamaican Composite index declined 392.43 points to close at 80,226.30 and the JSE combined index lost 210.18 points to close at 74,729.14.
Gains| IC Insider BUY RATED Cable & Wireless, finished trading with 7,481,913 units and put on 4 cents to end at 32 cents, to be the sole stock to gain at the end of trading, in the main market. The stock which was responding to news of a takeover of Columbus International, operators of Flow, enjoyed very strong bids at the close with 1,389,745 units to buy at 32 cents at the top of the bids, 2,954,100 units on the bid at 30 cents and 3,658,619 units at 28 cents. There are 2,288,839 on offer between 35 to 50 cents, an almost certain recipe for further gains to come.
Cable & Wireless HQ Kingston
Firm| The stocks in the main market to close without a change in the last traded prices are, Jamaica Broilers closing with 24,819 shares at $4, Jamaica Money Market Brokers finished trading with 487 shares at $7, Proven Investments with 5,425 shares at 18 US cents, Radio Jamaica ended with 3,615 units to close at $1.18 and Sagicor Group closed with 50,000 shares at $9.65.
Declines| The last traded prices of stocks with losses at the end of trading, in the main market are, Caribbean Cement, ended with 105,000 units, to close 5 cents lower at $2.60, Desnoes & Geddes closed with 27,346,412 shares, valued at $125.8 million to end 35 cents down, at $4.60, Sagicor Real Estate Fund finished trading with 82,100 shares changing hands, lost 15 cents at $6.60 and Scotia Investments with 500 shares fell 9 cents, to $21.51.