The buying and selling in the forex market on Friday resulted slightly more selling by dealers than the amounts bought in all currencies but sale of US dollars exceeded inflows by US$3 million, helping the selling rate of the US dollar, to continue to gain on the Jamaican currency.
The foreign exchange market closed on Friday, with dealers buying the equivalent of US$31,515,940 and selling US$33,499,897, in contrast to US$32,911,167 purchased and US$33,802,996 sold on Thursday
In US dollar trading, dealers bought US$27,698,434 compared to US$28,031,398 on Thursday as the buying rate for the US dollar remained unchanged at $124.75. A total of US$30,645,567 was sold versus US$31,006,313 on Thursday with the selling rate rising 6 cents to $125.56. The Canadian dollar buying rate fell $1.17 to end at $92.28 with dealers buying C$691,476 and selling C$516,501, at an average rate that climbed by 88 cents to $96.11. The average rate for buying the British Pound climbed $1.04 to $179.34 for the purchase of £1,920,291, while £1,270,603 was sold, with the rate rising $1.11 to $181.05.
At the end of trading, the selling rate for Euro, fell by 12 cents to close at J$140.06 from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$137.13, for a fall of 2 cents on Thursday’s rate. The US dollar equivalent of other currencies traded amounts to US$545,285 being bought, while US$626,785 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates for the Jamaican dollar in the foreign exchange market on Friday, include, a rise of $18.88 in the lowest selling rate of the US Dollar to $121, a rise of $1.60 in the highest buying rate of the Canadian Dollar to $97.50 and the highest buying rate for the British Pound increasing by $2.51 to $183.81.
US$ sales exceed purchases – Friday
Juniors trade higher on Friday
A total of 13 securities traded with 6 advancing and 4 declining. The market ended with bids for 7 stocks closing higher than their last selling prices and 3 ending with lower offers.
At the end of trading, AMG Packaging traded 4,500 shares to close at $12.45, CAC 2000 close with 750 units trading at $6.50, Caribbean Cream closed with a loss of 15 cents at $4.51, after trading 36,570 shares, Carib Flavours did not trade but closed with the offer at $7.75 compared to the last traded price of $7.99. Caribbean Producers traded 14,050 shares and gained 55 cents, to close at $4.50, Consolidated Bakeries traded 294,747 units with a loss of 12 cents and ended at $2, after it traded at an intraday 52 weeks’ high of $2.15, C2W Music closed with 29,000 shares trading with a gain of 2 cents at 36 cents. Dolphin Cove traded 38,920 units and gained 20 cents to end at $11.20, Honey Bun ended at a closing 52 weeks’ high of $5.05 with a gain of 5 cents with 25,850 units changing hands. The price hit a high of $5.50 in the morning session. Jamaican Teas traded 108,490 units to close with a rise of 10 cents at $3.90, Lasco Distributors fell 30 cents with 514,000 units trading at $7.60. Lasco Financial closed with a fall of 20 cents at $3.14 with 167,400 shares changing hands while Lasco Manufacturing traded 1,280,146 shares and gained 10 cents to close at $4.60 and tTech traded 6,472 units at $4.30.
TTSE stocks closed week positively
The Composite Index advanced by 0.33 points to close at 1,110.12, the All T&T Index fell 0.01 points to close at 1,760.05 and the Cross Listed Index rose by 0.09 points to 61.20. The market ended with 1 stock closing at 52 weeks’ high.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 4 stocks with bids higher than their last selling prices and 7 with offers that were lower.
Gains| Grace Kennedy rose 5 cents to a 52 weeks’ high of $5.25 with 1,700 units changing hands and West Indian Tobacco rose 1 cent in closing at $126.31 with 1,128 units trading.
Losses| Massy Holdings closed trading with 29,282 shares with a value of $1,419,675 at $48.15 after losing 1 cent.
Firm Trades| Ansa Merchant Bank traded 200 units at $38.95, Clico Investments Fund ended with 100 shares changing hands at $22.65, First Citizens had 200 shares changing hands to close at $30, Guardian Holdings traded 1,943 shares with the price remaining at $12.85, National Enterprises traded 1,505 shares and closed at $11.15. Praetorian Property Mutual Fund contributed 1,000 shares to end at $2.70, Prestige Holdings traded 300 shares at $11.30.
Market index chopped – Friday
Trading in the early morning session of the Jamaica Stock Exchange saw the main market indices being chopped sharply from Thursday close by nearly 1 percent but the junior market index climbed by almost 2.5 percent in contrast.
Honey Bun fresh from a 5 to 1 stock split, trading at a new high $5.01 and pulled back to $5, but the bid is now at $5.05. Radio Jamaica also traded at a new high of $2 and Consolidated Bakeries traded 46,296 units at a new one year high of $2.13
Stocks trading over 100,000 units in the main market include Cable & Wireless with 364,430 units at $1.48, Radio Jamaica 103,710 at a new high of $2, Supreme Ventures 348,904 shares at $4.50. In the junior market and Lasco Financial traded 164,400 shares at $3.30.
Trading resulted in activity in 25 securities, accounting for a volume of 1,356,891 units as 10 stocks gained and 4 declined. The average number of shares traded amounts to 54,276 units compared to an average of 135,568 units on Thursday.
After 75 minutes of trading in the early morning session, on Friday, the all Jamaica Composite Index was chopped by 1,080.88 points to 176,234.77, the JSE Market Index fell 966.48 points to 158,627.06, the JSE combined index fell 356.36 points, to 169,738.24 and the junior market index jumped 52.67 points to 2,202.72.
US$ sales exceed purchases – Thursday
The buying and selling in the forex market on Thursday resulted slightly more selling by dealers than the amounts bought in all currencies but sale of US$ exceeded inflows by US$3 million.
The foreign exchange market closed on Wednesday, with dealers buying the equivalent of US$32,911,167 and selling US$33,802,996, in contrast to US$28,237,528 purchased and US$39,830,039 sold on Wednesday
In US dollar trading, dealers bought US$28,031,398 compared to US$26,160,433 on Wednesday as the buying rate for the US dollar added 13 cents to end at $124.75. A total of US$31,006,313 was sold versus US$38,578,531 on Wednesday with the selling rate rising 3 cents to $125.50. The Canadian dollar buying rate rose $1.08 to end at $93.45 with dealers buying C$1,133,560 and selling C$606,541, at an average rate that climbed by 78 cents to $95.23. The average rate for buying the British Pound climbed 95 cents to $178.30 for the purchase of £1,804,146, while £621,406 was sold, with the rate dropping 97 cents to $179.94.
At the end of trading, the selling rate for Euro, gained 56 cents to close at J$140.18 from Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$137.15, for a rise of 38 cents on Tuesday’s rate.
The US dollar equivalent of other currencies traded amounts to US$1,452,009 being bought, while US$1,445,479 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates for the Jamaican dollar in the foreign exchange market on Wednesday, include, a fall of $19.23 in the lowest selling rate of the US Dollar to $102.12, a rise of $1.50 in the highest buying rate of the Canadian Dollar to $95.90 and a $1 gain in the lowest buying rate to $75.70 while the lowest buying rate for the British Pound fell by $2.07 to $143.84 and the highest buying rate declined 95 cents to $187.16.
C2W Music monster trade – Thursday
A total of 17 securities traded with 7 advancing and 8 declining. The market ended with bids for 7 stocks closing higher than their last selling prices and 3 ending with lower offers.
At the end of trading, AMG Packaging traded 1,200 shares to close at $12.45, after adding 45 cents, Caribbean Cream closed with a loss of 4 cents at $4.65, after trading 183,500 shares, Carib Flavours closed at $7.99 after losing 1 cent, in trading 200 shares. Consolidated Bakeries traded 283,078 units and gained 11 cents to end at a 52 weeks’ high of $2.12, C2W Music closed with 53,814,091 shares trading with a loss of 1 cent at 34 cents, General Accident had 2,200 shares trading with a gain of 26 cents to close at $2.44. Honey Bun traded for the first time after its 5 for 1 stock split and closed at a 52 weeks’ high of $5 with a gain of $1.20 with 170,860 units changing hands, Iron Rock Insurance traded 628,310 shares but shed 20 cents to end at $3.20. Jamaican Teas traded 17,039 units to close with a loss of 5 cents at $3.80, Jetcon Corporation rose 7 cents in trading 23,525 units at $2.87, Key Insurance gained 6 cents with 61,900 shares at $2.75. KLE Group ended at $1.60 with 9,300 shares changing hands Knutsford Express fell 50 cents in trading 6,200 shares to close at $17.50, Lasco Distributors fell 10 cents with 1,000,000 units trading at $7.90. Lasco Financial closed with a gain of 4 cents at $3.34 with 5,979 shares changing hands while Lasco Manufacturing traded 1,099,242 shares and fell 19 cents to close at $4.50, Medical Disposables ended with 5,000 units changing hands to close with a gain of 1 cent at $3.50 and tTech traded 8,537 units at $4.30.
Spring blues over for TTSE stocks
The spring break of falling stocks on the Trinidad and Tobago Stock Exchange seems over, with the advent of summer and sentiments showing good signs of improving market conditions. Prices remained fairly stable at the close of trading with only two stocks recording price changes. The market closed with 9 active securities changing hands, 1 of which gained, 1 declined while 7 remained unchanged, as 356,121 shares valued at $6,829,136 changed hands. The market ended with 1 stock closing at 52 weeks’ high.
The Composite Index declined by 0.03 points to close at 1,109.79, the All T&T Index fell 0.06 points to close at 1,760.06 and the Cross Listed Index remained at 61.11.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 5 stocks with bids higher than their last selling prices and 3 with offers that were lower.
Gains| National Flour ended with 66,951 shares changing hands and closed with a gain of 1 cent at $2.20.
Losses| West Indian Tobacco lost 6 cents in closing at $126.30 with only 522 units trading.
Firm Trades| First Citizens had 205,093 shares changing hands, for a value of $6,152,790 to close at $30, Massy Holdings closed trading with 2,036 shares at $48.16, National Commercial Bank traded 33,333 shares and closed at $2.45. Prestige Holdings traded 10 shares at $11.30, Trinidad and Tobago NGL traded 4,581 units valued at $962,010 to close at $21, Trinidad Cement traded 43,032 units at $3.50 and Unilever Caribbean closed with 563 shares trading at $64.82.
Juniors trade over 2.6m shares – Thursday
Spurred by good volumes in a number of junior market stocks, the junior market has so far traded over 2.6 million units while the main market had 3 securities trading in volumes over 100,000 units. Honey Bun fresh from a 5 to 1 stock split traded for the first time at $4.30.
Volumes increased for a number of stocks as Honey Bun traded 155,000 units at $4.30, Iron Rock Insurance exchanged 600,000 shares at $3.20, Lasco Distributors lost ground, in trading 762,546 units at $7.90 down from $8 on Wednesday and Lasco Manufacturing had with 1,048,000 shares trading at $4.60. JMMB Group traded 100,000 units at $10, Sagicor Real Estate X Fund had 500,400 shares changing hands at $10 while Supreme Ventures accounted for 219,900 shares at $4.30.
Trading resulted in activity in 27 securities, accounting for a volume of 3,660,342 units as 11 stocks gained and 11 declined. The average number of shares traded amounts to 135,568 units compared to an average of 233,476 units on Wednesday.
After 75 minutes of trading in the early morning session, on Thursday, the all Jamaica Composite Index gained 696.08 points to 175,575.85, the JSE Market Index rose 622.41 points to 158,037.88, the JSE combined index rose by 696.08 points, to 168,568.02 and the junior market index fell 8.59 points to 2,141.91.