Eppley preference share closes over

eppleytype150x150 The Eppley preference share issue, successfully raised the minimum capital sought by the company, the Jamaica Stock Exchange was informed. The preference share issue, maturing in 2019 in respect of 41,666,667 cumulative redeemable preference shares priced at J$6, closed as scheduled on Tuesday, 11 November 2013.
The issue was oversubscribed and the Company intends to exercise the right, to issue further preference shares, up to a total of 58,333,334 units. The basis of allotment will be announced today.
Trading in the Junior Market closed with activity in just 99,198 units, valued at $231,017. The JSE Junior Market Index declined 3.07 points to close at 662.69. Only 4 securities traded, with no stock advancing and 3 declining.
At the close of the market, there were 2 stocks with bids higher than their last selling prices and 1 stock with the offer that is lower. The junior market continues to exhibit weakness with 9 securities closing with no bids to buy. There were 5 securities that had no stocks being offered for sale.
Access Financial Services traded 900 shares at $10.01, Caribbean Producers finished trading with 93,000 shares while losing 20 cents to $2, Knutsford Express traded down 4 cents to $5.45 with 4,450 units and Lasco Financial traded only 848 units, losing 3 cents to 95 cents.

2 stocks rose none fell on TTSE

Trading on the Trinidad Stock Exchange ended with 10 securities changing hands, of which 2 advanced, none declined and 8 traded firm, with a total of 161,827 units, valued at $5,879,498.
TTSE sum 13-11-14At the close of the market, the Composite Index lost 0.29 rose points to end at 1,145.82, the All T&T Index fell by 0.58 points to 1,962.27 and the Cross Listed Index remained at 43.16.
Gains| Stocks increasing in price at the close are, Clico Investment Fund that posted a volume of 67,578 shares valued at $1,502,695 and advanced by 10 cents to $22.25 and West Indian Tobacco with only 120 shares, advanced by 1 cent to end at $119.04.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, Angostura Holdings ending at $12.76 with 4,266 shares valued at $54,425.62, trading, First Citizens Bank traded 2,613 shares to close at $36.76, Grace Kennedy traded 100 shares at $3.84, Massy Holdings with 36,715 shares changing hands for a value of $2,516,813, closed at $68.55, followed by National Enterprise that contributed 550 shares and closed unchanged at $17.49, National Flour Mills with a volume of 34,921 shares valued at $38,762, ended at $1.11, Republic Bank contributed 12,551 shares with a value of $1,506,120 to close at $120 and Scotiabank traded 2,413 shares and closed unchanged at $58.16.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 2 stocks with the bid higher than their last selling prices and 1 stock with the offer lower.

Carreras, C&W and Grace dominate JSE

Carreras 4With 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.
JSE 12-11-14 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

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CWJ old OffIn 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.

J$ lost value against US & Pound

On Tuesday, the Jamaican dollar lost value against the US dollar and the Pound but gained value against the Canadian, as authorized dealers purchased the equivalent of US$26,093,184 versus US$47,873,352, on Monday and sold the equivalent of US$27,960,599 compared with US$42,619,796 on Monday
FX sum 11-11-14In US dollar trading, dealers bought US$18,535,552 compared to US$41,018,591 on Monday. The buying rate for the US dollar fell 5 cents to $112.36 and US$24,597,836 was sold versus US$36,753,282 on Monday, the selling rate rose 11 cents to end at $113.01. The Canadian dollar buying rate, jumped 10 cents to $98.79 with dealers buying C$4,007,103 and selling C$1,735,342, at an average selling rate fell 8 cents, to $99.36. The rate for buying the British Pound climbed $1.72 to $177.93, for the purchase of £2,380,812, while £1,104,687 was sold, at $179.72, a rise of 66 cents. Other currencies bought, amounted to the equivalent of US$3264,45, while the equivalent of US$80,331, was sold.
FX HL 11-11-14fnHighs & Lows| The highest buying rate for the US dollar, declined 26 cents to $113.25, the lowest buying rate gained 50 cents to $92.52. The highest selling rate fell 21 cents to $117.70 and the lowest selling rate rose 17 cents $92.02. The highest buying rate for the Canadian dollar declined 15 cents, to $99.70, the lowest buying rate climbed $1.03 to $79.47, the highest selling rate inched up 50 cents to close at $102.15. The lowest selling rate gained 75 cents to $95.75. The highest buying rate for the British Pound, rose 70 cents to $180. The lowest buying rate rose $1.24 to $144.42, the highest selling rate dropped $1.10 to $183.48 and the lowest selling rate jumped $1.50 to $174.

Caribbean Producers up 10%

CaribbeanProducers(CPJ)280X150 Trading in the Junior Market closed with Caribbean Producers gaining 10 percent, as the company with largest percentage price movement. There was a total of 686,019 units changing hands, valued at $857,142. The JSE Junior Market Index rose 5.37 points, to close at 665.91 as 7 securities traded, with the price of 3 advancing and 2 declining.
At the close, there were 2 stocks with bids higher than their last selling prices and 2 stocks with offers that were lower. The junior market continues to exhibit weakness with 10 securities closing with no bids to buy. There were 4 securities that had no stocks being offered for sale.
In trading, Caribbean Producers finished with 20,000 shares with the price rising 20 cents to $2.20, Lasco Financial saw trading in 50,000 units and put on 8 cents to 98 cents and Medical Disposables ended with 10,000 shares with an increase of 4 cents to $1.94.
Lasco Distributors contributed 232,490 shares at $1.32 and Lasco Manufacturing ended trading with 235,894 shares at 95 cents.
Blue Power ended with 660 units as the price slipped 20 cents to $6.90 and General Accident finished with 136,975 shares with 2 cents fall to $1.53.

Republic drops 72 cents on TTSE

Trading on the Trinidad Stock Exchange ended with Republic Bank dropping 72 cents at the end of trading. There was activity in the market, with 11 securities changing hands, of which 4 advanced, 3 declined and 4 traded firm with a total of 638,480 units, valued at $1,740,915.
TTSE 11-11-14At the close of the market, the Composite Index lost 0.80 points to close at 1,145.6 the All T&T Index rose fell by 1.68 points to close at 1,962.76 and the Cross Listed Index increased by 0.01 points to end at 43.04.
Gains| Stocks increasing in price at the close are, Clico Investment Fund gained 4 cents to end at $22.15 while trading 9,366 shares valued at $207,457, Jamaica Money Market Brokers was the volume leader with 518,756 shares changing hands for a value of $233,440 and gained a cent to 45 cents, Scotiabank traded 682 shares at $58.13 up a cent and West Indian Tobacco traded 537 shares at $119.03 for a 1 cent gain.
Declines| The stocks declining at the end of trading are, Grace Kennedy contributed 40,000 shares with a value of $153,600, to close 1 cent down at $3.84 while by Sagicor Financial Corporation with a volume of 57,622 shares traded for $346,893, to end at a new 52 weeks’ low, of $6.01 after falling 4 cents, conversely, Republic Bank suffered a loss 72 cents to close at $120 as 1,285 shares traded.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, Angostura Holdings with 1,000 units ended at $12.75, First Citizens Bank had 2,472 units trading at $36.76, Massy Holdings added 6,260 shares valued at $429,123 to close at $68.55 and National Enterprises traded 500 shares at $17.49.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 2 stocks with the bid higher than their last selling prices and 2 stocks with offers that were lower.

C&W trades 1m units at 54c

cable-and-wireless-worldwide600x250Cable & Wireless traded 1 million units at 54 cents as Scotia Investments sold the stock which was bought by NCB Capital Markets.
The trade leaves 275,995 units on the bid at 54 cents, just below are bids for 600,000 sahres at 50 cents, 1,064,000, 27,360, 300,000 and 2,975,000 units at 47 cents. the closest offer is 500,000 units at 60 cents.
The stock has gained 93 percent since it last traded on Wednesday last week at 28 cents, after Cable & Wireless Plc announced the acquisition of Columbus Communications and that the local company added 125,000 cell customers between April and September.

30% is New Circuit Breaker

Marlene Street Forrest - General Manager of the JSE

Marlene Street Forrest – General Manager of the JSE

The final trading information for the Jamaican Stock market will show that Cable and Wireless did not trade on Friday, even as 264,000 units were put through at 37 cents per share. The trades were eventually cancelled.
At 37 cents, the price moved just over 15 percent, which is 0.20 cents from maximum of 36.80 cents possible. The stock exchange does not trade stocks in Jamaican dollars for fraction of a cent, do not round up the figures, in computing the 15 percent limitation. On Monday, the stock could not trade above 41 cents, which is 15 percent above Friday’s bid of 36 cents, even as there were investors prepared to buy above this level.
Later this month, could be as early as next week Monday, the 15 percent restriction will give way to a new regime of 30 percent in one day but in two tranches of 15 percent each, one hour apart. The rules will still permit the bid to exceed the closing price or the offer to fall below it at the close, thus permitting the stock to trade at more than 15 percent from the closing price, on the next day.
According to information from the Jamaica Stock Exchange, the new rule is as follows, “No stock should trade +/-15% from the close price or the effective close price at the opening of the market. The effective close price is determined whenever the closing bid is greater than the close price or whenever the closing ask is less than the close price. Use the closing bid as the effective close price, if the value is greater than the close price or use the closing ask as the effective close price, if the value is less than the close price. However, during the day if the Circuit Breaker is triggered for a security, the security will be halted for an hour to allow for the release, circulation and absorption of any relevant market news and a cool down period while investors consider their options. After the hour has passed the security will be released for trading and the new reference price, which is a simple average of the trigger price and the close price, will be used to determine the trade range for the remainder of the day. The price of the trade that triggered the Circuit Breaker should not be +/-15% outside of the original prescribed price band. The stock will not be allowed to trade +/- 15% of the new reference price.”
IC Insider spoke with the General Manager of the exchange who advises that the plan is to start as of Monday November 17th. But certain technical challenges with the trading platform could delay its implementation. Until the beginning of December.
The change came after investors were surveyed of the Stock exchange recently. The circuit breaker was implemented in the 1990s based on complaints by some investors about large swings in the price movements of some stocks, which was felt by some as manipulation of the market. The rule did not find favour with a number of the players in the market for several years.

J$ gains against US & Pound

On Monday, the Jamaican dollar gained slightly against the US dollar and the Pound but lost value against the Canadian, as authorized dealers purchased the equivalent of US$47,873,352 versus US$39,911,362, on Friday and sold the equivalent of US$42,619,796 compared with US$31,492,889 on Friday
FX sum 10-11-14In US dollar trading, dealers bought US$41,018,591 compared to US$34,063,940 on Friday. The buying rate for the US dollar fell 7 cents to $112.41 and US$36,753,282 was sold versus US$28,225,359 on Friday, the selling rate declined 1 cent to end at $112.90. The Canadian dollar buying rate, jumped 83 cents to $98.69 with dealers buying C$5,440,083 and selling C$4,885,455, at an average selling rate that rose 32 cents, to $99.44. The rate for buying the British Pound dropped $1.40 to $176.21, for the purchase of £1,094,673, while £556,852 was sold, at $179.06, a fall of 27 cents. Other currencies bought, amounted to the equivalent of US$363,123, while the equivalent of US$680,535, was sold.
FX HL 10-11-14Highs & Lows| The highest buying rate for the US dollar, rose 41 cents to $113.51, the lowest buying gained 17 cents to $92.02. The highest and the lowest selling rates were unchanged at $117.91 and $91.85 respectively. The highest buying rate for the Canadian dollar climbed 30 cents, to $99.85, the lowest buying rate remained at $78.44, the highest selling rate fell 55 cents to close at $101.65. The lowest selling rate gained 50 cents to $95. The highest buying rate for the British Pound, declined 70 cents to $179.30. The lowest buying rate drifted down 78 cents to $143.18, the highest selling rate climbed $2.42 to $184.58 and the lowest selling rate dropped 95 cents to $172.50.