Daily Trading — Page 976

JSE: T-bill auction slows JSE trading

October 23, 2013 by IC Insider.com

Wednesday, 23nd October 2013 | The local stock market has a history of slow days when there are government bond offers and today was no exception with a Treasury bill offer closing during the day.

On a very slow day on the Jamaica Stock Market, trading took place for 2,225,824 shares valued at $13,557,822 as most of the market indices declined marginally, with the Main Market index falling 16.36 to close at 82,304.35, while the all Jamaica index closed at 80,507.91 as it fell by 28.79 and the junior market index inching down by 3.25 to 751.32. There was trading in stocks of 22 companies, with 2 rising, 9 falling and 11 remained unchanged.

Main Market | Carreras exchanged 22,355 units to close firm at $40; Grace Kennedy 36,411 units changed hands, closing down 75 cents at $55.51; Jamaica Money Market Brokers traded just 3,650 units to close down 40 cents at $8.10; Pan Jamaican Investment traded 20,000 units to close at $48.01; Sagicor Investments exchanged 337,696 units and closed at $15.99, down a cent. Sagicor Life saw 55,000 units trading to close at $8.10, down 9 cents; Scotia Group only exchanged 14,748 units to close firm at $20.50.

Jamaica Money Market Brokers 7.50% preference shares traded 486,600 firm at $2 and Jamaica Money Market Brokers 8.75% preference shares traded 558,000 units, closed up 10 cents at $3.

Junior Market | Trading in the junior market saw Caribbean Cream with 500,000 units changing hands to close firm at $1.02, Dolphin Cove put in only 2,000 shares as the price closed down 62 cents at $8. General Accident Insurance swapped just 35,600 shares and closed down a cent at $1.61 followed by Lasco Distributors 20,000 units closing firm at $1.50. Lasco Financial traded 19,500 units at $1.17 while Lasco Manufacturing had 48,200 units that traded firm at $1.45 and Paramount Trading put through 37,810 units to close at $3.30 up 25 cents.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed improvement in market sentiment over Tuesday’s reading with bids for 4 stocks being higher and 3 stocks with offers lower than their last selling price. The junior market had 3 stocks with offers that were lower than the last selling price and bid for just 1 that was higher.

TTSE: Witco up 80c to $119

October 23, 2013 by IC Insider.com

Wednesday, 23rd October 2013 | West Indian Tobacco recorded an attractive gain of 80 cents to end the day at $119 as 2,000 shares traded. Overall activity on the Trinidad market was moderate with trading in 12 securities of which 5 advanced, 1 declined and 6 traded firm as 337,790 shares were traded valued at $2,935,278.

Agostini’s reached a new 52 weeks high trading 17,777 shares valued at $315,186 as the price climbed 13 cents to $17.73. First Citizens traded only 3,700 units to close up a cent at $35. Sagicor Financial Corporation had a volume of 162,031 shares changing hands for a value of $1,174,565 as the price closed firm at $7.25. Trinidad Cement had a volume of 85,000 shares valued at $198,973 with the price closing firm at $2.35. Scotia Investments contributed 30,000 shares with a value of $58,500, the price closed firm at $1.95, while Republic Bank closed up a cent at the end of trading at $112.02, as 474 units traded.

Clico Investment Fund, posted a volume of 32,990 shares valued at $709,285 and closed down by 23 cents to end at $21.50.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed bids for 4 stocks being higher and 3 stocks with offers lower than their last selling price.

Filed Under: Stock Market, TTSE Market Tagged With: Daily Trading, Trading Activity, TTSE

FX: US$8M surplus purchases, J$ below $105

October 22, 2013 by IC Insider.com

Tuesday, 22nd October 2013 | The forex market reopened on Tuesday after the Heroes’ holiday closure with the currency purchased by dealers coming in at US$8 million more than the amount sold, only one trading day after the central bank’s intervention resulted in a surplus of US$4.5 million. The surplus should place some downward pressure on the rate in the short term at least.

Total purchases in the market on Tuesday represented two normal trading day’s transactions amounting to the equivalent of US$63,057,239 whiles sales totalled US$54,993,416.

The amount of US dollars purchased by dealers on Tuesday was US$58,328,934 at an average rate of $104.50 representing a 20 cents reduction on Friday’s close, while the amount sold was US$51,014,352 at an average rate of $104.99, down by 2 cents, having slipped back below the $105 mark.

There was buying for C$1,358,257, as the buying rate dropped by 54 cents to $99.997 whiles sales amounted to C$2,010,791 as the selling rate moved up by 87 cents to $103.26.

The amount of British Pounds purchased was £2,011,635 at $167.14, down 84 cents and selling amounted to £1,085,610 at a selling rate that was higher by 80 cents to $171.31.

Highs & lows | The highest buying rate for the US dollar was unchanged at $106.75 but the lowest buying rate increased 17 cents to $85.17. The highest selling rate was unchanged at $109.14 and the lowest selling rate dropped $16.99 to hit $85.01.

The highest buying rate for the Canadian dollar climbed $1.50 to end at $104.50. The lowest buying rate was 50 cents higher at $81.26 while the highest selling rate gained 25 cents to $104.75 and the lowest selling increased by 60 cents to $97.90.

The highest buying rate for the Pound was 30 cents higher at $172.30 while the lowest moved up $1.62 to $135.29. The highest selling rate was up $2.27 to $175.27 and the lowest selling gained a $1 to $163.80.

Filed Under: FX Market, Stock Market Tagged With: Daily Trading, FX Market, Trading Activity

JSE: Index up but trading down

October 22, 2013 by IC Insider.com

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Tuesday, 22nd October 2013 | On a very slow day on the Jamaica Stock Market, trading took place for 5,766,814 shares valued at $21,261,844 as most of the market indices enjoyed a rare ‘up’ day with the Main Market index gaining 514.60 to close at 82,320.71, while the all Jamaica index which closed at 80,536.70 fell by 905.44. The junior market, which has held up well in the past weeks saw the index inching up by 0.73 to 754.57. There was trading in stocks of 26 companies, with 11 rising and only 3 falling and 15 remained unchanged.

Main Market | Trading in the main market was subdued on the first trading day after the holiday close on Monday. In trading Carreras exchanged 49,207 units to close firm at $40; Desnoes & Geddes, which closed at $5 on Friday, closed today at $4.50 as 40,000 units changed hands; Jamaica Money Market Brokers traded 523,000 to close firm at $8.50; National Commercial Bank had only 9,457 units as the price closed up 50 cents at $18.50 but the stock is still weak. Salada Foods traded 13,588 units unchanged at $8.50; Scotia Group only exchanged 30,651 units to close at $20.50 an increase of 50 cents; Supreme Ventures had a big day with 1,395,754 units to close at $2.60 off by a cent and Proven Investments 8% preference, put in 743,000 units at $5.09.

Junior Market | Trading in the junior market saw Access Financial changing ownership of 56,579 units as the price closed firm at $8.40; Blue Power traded 24,918 units and closed at $9.50 for an increase of 22 cents; Caribbean Cream saw 414,165 units changing hands to close firm at $1.02; Caribbean Producers put in a big volume of 2,289,981 as the price closed firm at $2.08 as General Accident Insurance swapped just 14,400 shares at $1.61 followed by Lasco Distributors 31,800 units which closed firm at $1.50. Lasco Manufacturing had 31,400 units that traded firm at the close at $1.45 and Paramount Trading put through 37,810 unit to close at $3.30 up 25 cents.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed slight deterioration in market sentiment over Friday’s reading with bids for 3 stocks being higher and 7 stocks with offers lower than their last selling price. Interestingly, the junior market had 6 stocks with offers that were lower than the last selling price and no bids that were higher.

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Filed Under: JSE Main Market, Stock Market Tagged With: Daily Trading, JSE Company, Trading Activity

TTSE: Republic Bank drops

October 22, 2013 by IC Insider.com

Tuesday, 22nd October 2013 | Republic Bank, an IC Insider Buy Rated pick, which enjoyed a big $6.06 jump in price in Monday’s trading to end at $117.17, a new 52 weeks high, fell back $5.16 in Tuesday’s trading to close at $112.01 while trading 3,632 units.

There was trading in 12 securities of which 3 advanced, 3 declined and 6 traded firm with 305,245 shares changing hands valued at $10,625,226.

Ansa Mcal traded 88,687 shares for a value of $5,879,932 as the price closed at $66.30; Angostura Holdings closed firm at $13.50 with 1,000 units trading; First Citizens Bank contributed 8,011 shares with a value of $ 280,375 as the price closed down a cent at $34.99; Jamaica Money Market Brokers with a volume of 40,249 shares, traded for $29,392 as the price held firm at 73 cents. At the close, demand had eased to only 11,000 units at 65 cents while the offer was for 195,077 units at 73 cents.

Point Lisas Industrial Port Development Corporation added 850 shares and closed firm at $3.77; Scotia Bank gained 75 cents to end at $71.01, a new 52 weeks high, while trading 2,907 units. Scotia Investments contributed 16,000 shares with a value of $31,200 and closed unchanged at $1.95. West Indices Tobacco traded 5,924 units to close firm at $118.20.

Clico Investment Fund posted a volume of 133,795 shares valued at $2,907,220 and declined by 21 cents to end at $21.73.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed bids for 3 stocks being higher and 5 stocks with offers lower than their last selling price.

Filed Under: Stock Market, TTSE Market Tagged With: Daily Trading, Trading Activity, TTSE

TTSE: Big jump in Republic Bank, up $6.06

October 21, 2013 by IC Insider.com

Monday, 21st october 2013 | Republic Bank, an IC Insider Buy Rated pick, enjoyed a big $6.06 jump in price in Monday’s trading to end at $117.17, a new 52 weeks high as 1,807 units changed hands during trading. The stock is now priced at 16 times 2013 earnings, well below the 23 times that First Citizens and Scotia Bank are currently valued. For Republic to get a similar valuation, it would require a price of around $170. As such the stock still remains on the Buy Rated list. Also, with limited supply currently available, we expect the continuation of upward price movements.

Republic’s gain helped to push the all TTSE Index up 19.74 to 1,965.81. Market activity resulted from trading in 12 securities of which 3 advanced, 3 declined and 6 traded firm and 1,087,382 shares changing hands valued at $2,104,212.

Angostura Holdings closed firm at $13.50 with 1,771 units trading; First Citizens Bank contributed 16,329 shares with a value of $571,515 as the price closed firm at $35; Guardian Holdings traded 5,000 units and the price was down a cent to close at $15.24; Jamaica Money Market Brokers with a volume of 378,295 shares, traded for $276,155 as the price held firm at the end at 73 cents. At the end, there was demand for over 39,000 units at 73 cents.

National Commercial Bank exchanged 670,000 shares for a value of $763,500 as the priced closed down 4 cents to $1.14 but the bid was at $1.16 for only 2,000 units and offer of nearly 295,000 units at $1.18. Point Lisas Industrial Port Development Corporation added 10,650 shares valued at $40,151 as the price remained unchanged at $3.77.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed bids for 3 stocks being higher and 3 stocks with offers lower than their last selling price. This coupled with the lack of supply in the market to meet demand suggest that the market continues to look somewhat bullish for some stocks.

Filed Under: Company News, Stock Market, TTSE Market Tagged With: Daily Trading, Trading Activity, TTSE

FX: BOJ intervention cools wayward J$

October 18, 2013 by IC Insider.com

Friday, 18th October 2013 | Friday was a big day on the Forex market coming against the background of a continuous slide in the value of the Jamaican dollar, particularly against the US dollar, as well as the central bankers meeting with the major players in the market.

Overall, there was buying by dealers of the equivalent of US$49,535,095 and selling of US$45,891,196; large amounts for a Friday suggesting that the BOJ intervention would be in the order of US25-30 million. IC Insider have been reliably advised by someone close to a commercial bank that the central bank intervened in the market by selling US dollars at $104.65. The source said that the central bank indicated that they were not uncomfortable with the rate around these levels but asked for an orderliness in their behaviour. Friday’s intervention is in keeping with our report on the NCB big sell off of US dollars, which would have placed the central bank in a position to intervene since a major slide in the value of the local currency would spike inflation above the norm and put in jeopardy the government workers’ wage agreement.

There was buying of US Dollars by authorised dealers of US$46,831,456 as the buying rate moved up by 30 cents to $104.70 and selling of US$44,527,662 with the selling rate declining by 15 cents to $105.01. Trading in the Canadian dollar resulted in C$914,382 bought as the rate went down 51 cents to $100.53 and CS577,137 was sold with the selling rate moving up 18 cents at $102.3869. Trading in the British Pound accounted for £1,036,286 as the buying rate was up $1.30 to end at $167.984 and £374,396 was sold at a selling rate up 68 cents to $170.52.

The highest buying rate for the US dollar fell $1.05 to 106.75, while the lowest buying remained unchanged at $85.00 and highest selling rate and lowest remained the same at $109.14 and $102.00 respectively.

The highest buying rate for the Canadian fell $2.50 to 103.00 but the lowest climbed 29 cents to $80.76; the highest selling rate dropped 50 cents to $104.50 while the lowest was up 30 cents to $97.30. The highest buying rate for the British Pound climbed 20 cents $172.00 and the lowest jumped $33.67 to $133.67; the highest selling rate dropped 34 cents to $173.00 and the lowest was up 80 cents to $162.80.

Related post | FX: NCB dumped US$54m

Filed Under: FX Market, Stock Market Tagged With: Daily Trading, FX Market, Trading Activity

JSE: The end of two negative weeks

October 18, 2013 by IC Insider.com

Friday, 18th October 2013 | The second week of big declines ended on Friday with another day of slippage for the two main market indices. Reports from the brokerage community have confirmed to IC Insider that Lascelles Superannuation Fund is liquidating the equities they hold for some noted companies that has caused prices to decline. It was tough week as the Jamaica stock market declined just about every day, a continuation from the sharp decline of the week before,

In a very slow day on the Jamaica Stock Market, trading took place for 14,927,180 shares valued at $131.3 million as the market indices saw another day of decline in the Main Market index of 268.90 to close at 81,806.11, while the all Jamaica index which closed at 79,631.26 fell by 473.13. The junior market has held up well in the past weeks but saw the index inching down by 0.92 to 753.84. There was trading in stocks of 26 companies, with 6 rising and 9 falling and 14 remained unchanged.

Trading resulted in Carreras exchanging 12,025 at $40, up 50 cents; Desnoes & Geddes 86,166 to close up 50 cents at $5; Grace Kennedy 106,549 units but fell to $55.65, off by $1.36; Jamaica Broilers had strong volume of 8,017,062 but at a depressed prices to close at $4.17, up 7 cents; Jamaica Producers 106,100 units resulted in a 25 cents price cut to close at $18.25; Mayberry Investments 22,804 units resulted in the price closing firm at $2.50; National Commercial Bank had a good volume of 3,994,816 units but ended firm at $18; Pan Jamaican Investment Trust had only 16,350 units to close at $48.01, down 10 cents; Scotia Group 505,270 units closing firm at $20; Scotia Investment traded 2,502, lost 49 cents to close at $26.01; Seprod 323,036 units to close firm at $13 and Proven Investments 8% preference 1,083,600 units firm at $5.09.

Junior Market | Access Financial Services had a small volume of 2,258 but closed at $8.40 up 12 cents; Caribbean Cream still struggling to move above the listing price of the IPO earlier in the year had 38,140 units closing at $1.02, up 2 cents; newly listed Caribbean Flavours exchanged 258,997 closed firm at $2.70; Lasco Distributors had 25,320 units to close firm at $1.50; Lasco Financial Services 157,900 units resulted in a closing price of $1.13, a decline of 5 cents; and Lasco Manufacturing lost ground with 90,700 units in closing at $1.45 down 5 cents.

IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator showed slight improvement in market sentiment over Thursday with the bids for 3 stocks being higher and 5 stocks with offers lower than their last selling price.

Filed Under: JSE Main Market, Stock Market Tagged With: Daily Trading, JSE Company, Trading Activity

TTSE: Prices continue up

October 18, 2013 by IC Insider.com

Friday, 18th October 2013 | Prices continue to rise for most stocks trading on the Trinidad stock market with trading in 13 securities of which 8 advanced, 1 declined and 4 traded firm. Trading resulted in a volume of 477,227 shares valued at $2,259,541.

Fours stocks reached new 52 weeks high on the last trading day of the week. These are Angostura Holdings which gained 96 cents to end the day at $13.50 while trading 13,260 units; Jamaica Money Market Brokers with 279,868 shares changing hands for a value of $204,734 as the price closed up 3 cents to 73 cents; Scotia Bank up 5 cents to close at $70.26 with 635 shares changing hands and Republic Bank which closed at $111.12, up 12 cents while trading 430 shares.

First Citizens traded 9,930 to close firm at $35.00; Neal & Massy gained 25 cents to close at $57.26 in trading 2,393 units; Point Lisas Industrial Port Development had 12,500 shares changing hands with the price closing firm at $3.77. Sagicor Financial Corporation with a volume of 100,000 shares being traded for $725,000. Guardian Holdings Limited contributed 24,055 shares with a value of $366,786 as the price gained 10 cents to end at $15.25, while National Commercial Bank Jamaica added 22,100 shares valued at $26,078 firm at $1.18.

Grace Kennedy declined by 3 cents to end the day at $4.12 as 6,048 units were traded.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed bids for 5 stocks being higher and 3 stocks with offers lower than their last selling price. This coupled with the lack of supply in the market t0 meet demand is suggesting that the market is looking somewhat more bullish than a few weeks ago.

Filed Under: Stock Market, TTSE Market Tagged With: Daily Trading, Trading Activity, TTSE

FX: J$105.16 to buy US$1

October 17, 2013 by IC Insider.com

Thursday, 17th October 2013 | Today the local dollar climbed past the 105 mark for the US dollar as there was more selling of the American dollar than the amount purchased by dealers by US$1.9 million. Overall the equivalent of US$21.6 million was purchased and US$22 was sold.

Dealers pulled in US$17 million at $104.39 an increase of 26 cents and sold US$18.9 million at $105.16 up by 27 cents on the day. On a day when it took more Jamaican dollars to acquire each of the three main currencies, the Canadian was bought for $1.64 more at $101.04 to acquire C$1.37 million and selling took place at $102.21 up 89 cents for C$1.1 million. The Pound sterling fetched $166.69 up 29 cents on the day as buying by dealers accounted for £1.62 million and selling was carried out at $169.84, up 80 cents for £800,075.

The highest buying rate for the US dollar increased by $1 to hit $107.80 while the lowest buying rate was unchanged at $85.00. The highest selling rate increased by 21 cents to $109.14 while the lowest selling rate increased by 20 cents to $102.00.

The highest buying rate increased by $3 to $105.50 for the Canadian Dollar while the lowest remain unchanged at $80.47 but the highest selling rate increased by $1.26 cents to $105.00 and the lowest increased by 5 cents to $97.00.

The highest buying rate increased by $1.40 for the British Pound to $171.80, lowest the lowest buying rate declined $33.67 to $100.00. The highest selling rate increased by $1.02 to $173.34 and the lowest selling rate increased by 95 cents to $162.00.