FX: US$ rates stable Pound up

Thursday, 8th August 2013 | There was a bit more selling of foreign currency on Thursday than amounts bought. The equivalent of US$34.4 million was purchased and the equivalent of US$36.5 million was sold. The actual amount of US currency traded was $29.9 million purchased with $33.2 being million sold.

The buying rate for the US dollar eased by 7 cents to $101.16 and the selling rate moved down by 2 cents to settle at $101.83. The Canadian dollar rate for buying increased by 22 cents and selling rate moved up by 71 cents.  The average rate settled at $96.21 buying and selling at $98.33. The average rate for the Pound rose by 19 cents for buying the currency which closed at $154.85 and the average selling rate rose by $1.56 to $158.08.

Authorised dealers bought the US dollar at $4.27 less at $102.10 for the highest rate but the lowest buying rate was flat at $83.67. The high for selling remain unchanged at $107.21 but the lowest rate for selling rose by $15.33 to close at $99.

The highest buying rate for the Canadian currency fell 20 cents to $98.70 while the highest selling rate decreased by 34 cents to $101.86 and the lowest buying rate fell by 40 cents to $78.68 and the lowest selling rate was down 50 cents to $94.80.

The highest buying rate for the Pound grew by 70 cents to $158.60 and lowest buying rate moved up by $1.66 to $127.41 while the highest selling rate increased by $1.24 to $164.25, there was no change in the lowest selling rate.

FX_TRADE+Currency+Aug8

FX_TRADE+HighLow+Aug8

JSE: All reds

Thursday, 8th August 2013 | The Jamaican stock market suffered declines across the board for all indices in spite of a positive advanced decline ratio of 8 to 6, albeit moderate.  The all Jamaica Index lost 89.71 points, closing at 86,890.98 and the JSE market index slipped by 50.98 to close at 86,214.63 and the Junior market eased to close at 801.72, 19 points lower than on Wednesday.

Just under $18 million worth of shares traded accounting for a volume of 6.57 million units. Cable & Wireless, which barely traded for several weeks, has now attracted interest ahead of the June quarter results as the stock traded 3 million units, in addition to 1.32 million on Wednesday, thus reducing the amounts on sale at 15 cents to 24 million units. Elsewhere, the other main contributions to the volume were Lasco Distributors traded 1.2 million units, Supreme Ventures 943,000 and 650,000 of Jamaica Money Market Brokers.

Carreras traded flat at $51.50 with just under 50,000 units. Caribbean Cement, continuing its response to the return to profit in the June quarter, gained 19 cents to close at $1.39 as 56,423 units traded. Grace gained 20 cents to close at $56.40 with very limited volume. Jamaica Money Market Brokers followed up yesterday’s 502,000 units traded and valued at $4 million with today’s larger volume worth $5.49 million and closed at $8.20, up 20 cents. National Commercial Bank traded just 21,750 units between $19.10 and $19.30 before closing at $19.30; demand seems to be building at the $19 level but supply is drying up below $23 and this is contributing to the low volumes being traded as investors try to get supplies at the lowest prices possible. Sagicor Life traded 256,514 units, closing up 5 cents at $8.70 but traded as high as $9. Scotia Group traded just 58,586 units down from just over 2 million units on Wednesday and closed the day at $21.01 after trading as high as $22. Supreme Ventures traded down to $2.75, off 15 cents, in direct response to the lower profit reported for the June quarter.

Junior market | Only stocks of 8 companies traded in the junior market as the prices of 3 gained and 2 fell, all with small changes.  Caribbean Creams traded 44,644 shares to close firm at $1.06. Dolphin Cove traded 24,417 units firm, at $1.35. KLE Group traded 10 cents down to another all-time low of $1.70 with 5,000 shares trading. Lasco Distributors saw 1,198,070 units changing ownership and closed firm at $1.48 and Lasco Financial, which traded 195,148 units, closed at $1.51.

Eppley shares still have not traded and has no bids or offers at the close of trading.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 8 stocks were higher with3 stocks having offers lower than their last selling price.

After the bell | Kingston Properties released results showing a loss before fair value gain on investment property and miscellaneous income at $6.7 million for the six months ended June, 2013, compared with a profit of $6.7 million for the similar period in 2012. Profit for the latest quarter is $554,000 versus $4.2 million in 2012.

JSEIndicesAug8

TTSE: Trading sinks

Thursday, 8th August 2013 | A mere 67,521 shares crossed the floor of the Trinidad & Tobago Stock Exchange valued at $742,258 even as the stocks of 10 companies traded as 3 advanced, 4 declined and 3 traded firm.

Stocks trading with fair volumes were: One Caribbean Media 26,783 shares valued at $482,189, Angostura Holdings 22,758 shares for $205,999 as the stock shed 44 cents to close at $9.05. Williams LJ B contributed 7,926 shares with a value of $5,151.90, while National Commercial Bank Jamaica added 7,835 shares valued at $9,245.30. Only 200 shares valued at $4,306 was traded for Clico Investment Fund as the stock advanced by a cent to end at $21.53.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator shows no stocks with bids that were higher or lower than their last selling price.

TTSEAug8

JSE: Scotia’s market today

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Wednesday, 7th August, 2013 | The Jamaican stock market was dominated by trading in Scotia Group as just over 2 million units of the stock traded valued at $45 million as high as $23.49 but closed at the last trading price of $21.02. The other major trade on the day after the Independence Holiday was Jamaica Money Market Brokers trading 502,000 units valued at $4 million as the stock closed at $8, a decline of 16 cents. Jamaica Producers traded firm at $17.05 while trading 45,549 units valued at $816,000, Sagicor Life Jamaica traded 80,000 units closing down 20 cents at $8.65. Cable & Wireless traded 1,324,034 with just one trade at 15 cents thus reducing the amounts on offer at that price to 27 million units.

Carreras gained 39 cents to close at $51.50 with just under 7,000 units. Caribbean Cement responding to profit reported in the June quarter gained 20 cents to close at $1.20. Grace gave up 30 cents to close at $56.20 with limited volume. Kingston Wharves lost 29 cents to close at $7.51 with nearly 30,000 units trading.

The market closed today with stocks of 26 companies trading 6,149,080 valued at $61.36 million. There were 7 stocks advancing and 11 declining. The all Jamaica Index gained 209.24 points to close at 86,980.69 and the JSE market index went up by 118.92 to close at 86,265.61.

Junior market | Stocks of 11 companies traded in the junior market as the prices of 3 gained and 4 fell and the index inched up by 0.21 points to close 801.91. Caribbean Producers traded 76,108 shares to close firm at $2.03. Consolidated Bakeries traded 78,542 units firm at $1.35. General Accident Insurance traded 78,542 units and closed at $2 after trading as low as $1.85. Jamaican Teas chipped in with 107,474 shares between $4.41 the last traded price and $4.50 as the stock gained 11 cents for the day. KLE Group traded firm at $1.80 with 84,000 shares trading. Lasco Distributors saw 378,260 units crossing the monitor in today’s trade as the price gained a cent, closing at $1.48 and Lasco Financial which traded 120,840 units and closed at $1.50 off 4 cents.

Blue Power lost 40 cents in closing at $9.60 on small volume and so did Cargo Handlers that lost 50 cents to close at $13.50 and Dolphin Cove that lost 20 cents to close at $8.90 off 10 cents.

Eppley shares have still not traded and has no bids or offers at the close of trading.

Proven Investment Preference shares traded 787,900 units valued at $4 million while the ordinary shares which are quoted in US dollars traded 297,526 units at a value of US$34,232. The stock lost a fraction of a cent to close at US0.115 cents.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 8 stocks were higher with2 stocks having offers lower than their last selling price.

JSEIndicesAug7

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TTSE: $13M spent on ANSA stock

Wednesday, 7th August, 2013 | Trinidad Cement had 500,920 shares changing hands for a value of $756,952 on the Trinidad & Tobago Stock Exchange. The stock last traded at $1.54, a gain of 2 cents for the day.

Overall 1,077,086 shares valued at $16,907,699 traded as 11 securities changed hands of which 2 advanced, 2 declined and 7 traded firm. LJ Williams B shares traded down 8 cents to a 52 weeks low of 65 cents with small volume.

Conglomerate ANSA Mcal had 201,666 shares trading for $13,370,456 as the stock climbed 2 cents to end the day at $66.30. Grace Kennedy, the Jamaican conglomerate chipped in with 170,000 shares with a value of $578,400, while National Flour Mills added 139,832 shares valued at $97,882. Neal & Massy traded 28,254 units at $58.96 the same price as Tuesday. Sagicor Financial Corporation traded 24,000 with the last traded price of $6.90, down 10 cents on the day. Clico Investment Fund posted a volume of 8,400 shares valued at $180,768 with no price change.

IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator shows that bid for 1 stock was higher and 1 stock had the offer lower than their last selling price.

TTSEAug7

FX: Post holiday trading up

Wednesday, 7th August 2013 | Foreign exchange trading on Wednesday was higher than normal as it benefited from increase amounts based on the closure of the market on Independence Holiday, on Tuesday. Buying amounted to the equivalent of US$47.6 million and the equivalent of US$39.6 million sold. The actual amount of US currency traded was $43.2 million purchased with $37.4 million sold. The buying rate inched up by 6 cents to $101.22 and the selling rate moved up by 5 cents to settle at $101.86.

Authorised dealers bought the US dollar for $3.57 more, at $106.37 but the lowest buying rate rose by $2.98 to $83.67. The highest rate for selling increased by $2.67 to close at $107.21 but the lowest rate for selling remained unchanged at $83.67.

The Canadian dollar rate for buying fell by 8 cents and selling fell by 34 cents.  The rate settled at $95.99 buying and selling at $97.62. The highest buying rate for the Canadian currency fell 10 cents to $98.90 while the highest selling rate increased by 64 cents to $102.08, the lowest buying rate fell by 16 cents to $79.02 and the lowest selling rate was up by 50 cents to $95.20.

The average rates for the Pound rose by 92 cents for buying the currency which closed at $154.65 and the average selling rate rose by 46 cents to $156.52. The highest buying rate for the Pound grew by $1.50 to $15.90 and lowest buying rate moved up by $2.30 to $125.75 while the highest selling rate increased by $3.53 to $163.01 there was no change in the lowest selling rate.

FX_TRADE+Currency+Aug7

FX_TRADE+HighLow+Aug7

TTSE: Witco drops 95 cents

Tuesday, 6th August 2013 | West Indian Tobacco Company traded 27,743 shares valued at $3,247,318 as the stock lost 95 cents to close at $117.05. The stock which is one of the highest on the Trinidad market at nearly 27 times this year’s estimated earnings may be considered pricey and most likely will see a decline in profits due to the sharp 30 percent drop in cigarette sales in Jamaica since it supplies the bulk of cigarettes to Carreras. The stock may be fully priced at these levels.

Overall, there was trading in 12 securities of which 4 advanced, 4 declined and 4 traded firm as the market recorded a volume of 361,037 shares valued at $18.68 million. ANSA Mcal saw 208,344 shares changing hands for a value of $13,808,135, followed by Sagicor Financial Corporation with a volume of 32,516 shares for $227,612 as the price increased by 10 cents to end the day at $7.00. Point Lisas Industrial Port Development Corporation contributed 32,003 shares with a value of $120,742, while Clico Investment Fund posted a volume of 3,600 shares valued at $77,472, the stock advanced by a cent to end at $21.52.

National Enterprises traded 20,300 units firm at $16 and Jamaica Money Market traded 22,662 units at 44 cents.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator shows that the bid for 1 stock, Trinidad Cement, was higher and 1 stock had the offer lower than the last selling price.

TTSEAug6

FX: Monday big for FX

Monday, 5th August 2013 | Monday was a big day in the forex market with the equivalent of US$55 million being purchased and US$48.7 million being sold. The actual amount of US currency traded was $48.98 million with $45.2 million sold. The buying rate inched up by 13 cents to $101.16 and the selling rate slipped by 4 cents to settle at $101.81. Authorised dealers bought the US dollar at 60 cents more at $102.80 but the lowest buying rate rose by $3.08 to $80.69. The high for selling declined by $2.67 to close at $104.54 but the lowest rate for selling remained unchanged at $83.67.

The Canadian dollar rates for buying and selling fell as buying rate cost 25 cents less than the price on Friday at $96.07 and selling was 34 cents less at $97.61. The highest buying rate fell 40 cents to $99 while the highest selling rate declined by $1.44 to $101.44 and the lowest buying rate increased by $1.53 to $79.18 and the lowest selling rate was down by $1.22 to $94.70.

The average rates for the Pound rose by $2.16 for buying the currency which closed at $153.73 and the sell rate rose by 89 cents to $156.06.

FX_TRADE+Currency+Aug5

FX_TRADE+HighLow+Aug5

JSE: Easy does it

Monday, 5th August, 2013 | The JSE market closed today with stocks of 27 companies traded resulting in a volume of 2.8 million shares valued at just $17 million. There were 6 stocks advancing and 7 declining as all the indices with price changes lost value moderately, in what seems to be a holiday mode market. Price changes were low with only Carreras with a 50 cent gain to $51.11 being the most pronounced movement as 44,487 units of that stock traded, valued at $2.28 million.

Main market trades of note | The all Jamaica Index shed 68 points and the JSE market index dropped 38.72 points. Jamaica Money Market Brokers traded just over 100,000 shares to close at $8.20, a gain of 11 cents on the day. Sagicor Life traded over 72,000 shares and lost 15 cents as it closed at $8.85. Scotia Group traded 266,649 units closing at $21.12 with a value of $5.64 million. Seprod traded 87,200 units valued at $1.285 million as the stock closed at $14.75 the same as on Friday. Mayberry Investments chipped in with 287,609 units at $2.60, accounting for $748,000.

Caribbean Cement cemented the gains over the last few weeks as the company reported a profit in the June quarter and investors cheered the results by bidding the stock up to $1.12 at the end of trading but bought all that was available at $1 and 99 cents. The stock closed up 10 cents on a volume of 471,000 units.

Junior market | Trading took place in the shares of 9 companies as the index shed 5 points. Honey Bun which traded 10,100 at $4 reported results to the June quarter which was flat with the nine months for 2012 but the results for the quarter showed a 4 percent sales increase but that was inadequate to prevent a reduction in profits which declined from $7.5 million to $2.34 million in the quarter. The stock has no bid at the end of trading.

KLE Group dropped 20 cents to trade at an all-time low of $1.80 but only 4,000 shares changed hands. Lasco Distributors traded 279,350 units and closed down 2 cents to $1.48, Lasco Financial traded 184,737 shares to end up 5 cents more than the opening price to close at $1.55 while Lasco Manufacturing traded 110,160 units and dropped 8 cents to close at $1.52 after trading as high as $1.60.

Eppley shares that were listed last week still have not traded and have no bids or offers at the close of trading.

Proven Investment Preference shares traded 532,000 units valued at $5.09 valued at $2.7 million while there was a small volume traded in the ordinary shares.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 7 stocks were higher with 2 stocks having offers lower than their last selling price.

JSEIndicesAug5

TTSE: Agostini’s at 52 weeks high

Monday, 5th August, 2013 | Trading on the Trinidad & Tobago Stock Exchange on Monday was subdued with 11 securities trading of which 2 advanced, 3 declined and 6 traded firm as just 708,913 units changed hands valued at $2.33 million.

Interest continued to be displayed in Trinidad Cement (TCL) with a volume of 503,031 shares changing hands for a value of $759,577 as the stock closed at $1.51. The price remained steady at Friday’s last traded price but the bid was higher at the close at $1.52 suggesting further gains ahead. The TCL Group released results on Friday showing a continuation of the return to profitability that was evidenced in the first quarter. Profit due to shareholders of TCL was placed at $46 million and $73 million year to date. While there are some one off cost and income that ought to be adjusted for to arrive at ongoing income, it would still mean a decent profit in the quarter and year to date.

Prestige Holdings saw 100,000 shares being traded for $935,000, while National Flour Mills had 70,000 shares with a value of $49,000 but ended up falling 5 cents to close at 70 cents. Sagicor Financial Corporation added 11,500 shares valued at $79,350. Agostini’s traded 4,304 units at $17 increasing by 33 cents to end the day at $17.00, a new 52 weeks high. Clico Investment Fund posted a volume of 6,600 shares valued at $141,964 and advanced by a cent to end at $21.51.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 3 stocks were higher and 1 stock had the offer lower than their last selling price.

TTSEAug5