Daily Trading — Page 993

FX: Lowest rate for £ drops $45

July 18, 2013 by IC Insider.com

Thursday, 18th July 2013 | While the average buying and selling rates have been fluctuating around the same levels for some time the volatility in the highest and lowest rates have been much different.

In Thursday’s trading, while the Pound selling rate moved up by 49 cents over Wednesday average traded rate and the average buying rate moved up 90 cents, the lowest selling rate fell precipitously by $44.80 to $105. The highest buying rate on the other hand, fell 90 cents with little change to the lowest buying rate but the highest selling rate moved up $3.46 to $161.46.

The lowest selling rate for the US dollar has been moving between $83 and $100 for some time but in today’s trade it fell back by $14.50 closing at $83.50. There was virtually no change in the highest buying and selling rate as well as the highest buying rate for the US dollar. In fact the average rates for the US dollar are virtually exactly where they were on Wednesday. The various rates for the Canadian dollar were up and down at the end of the day. By day’s end US$24.3 million was purchased just a bit less than the US$25.2 million.

JSE: Ban hitting investors harder than smokers

July 18, 2013 by IC Insider.com

Thursday, 18th July 2013 | The smoking ban may well save some lives but it could cause some pensioners theirs. Since the Minister of Health announced the ban, Carreras’ stock, which was at $60, has declined to $53 and looks as if it could go lower as investors exit the stock in fear of profits dropping sharply as the ban takes a toll on demand for the product.

The move has taken $3.5 billion off the value of the shares so far. Shareholders include are pensioners, pension funds and other pooled funds that investors look to for income. The stock traded more than 182,000 units closing down by 75 cents to $53 in today’s trading. There are good bids at $52.50 that could lend support for a while depending on the strength of selling that may still come.

Trading activity was slow for most of the day except for the Lasco stocks, Caribbean Creams and Caribbean Producers and a few others. Activity picked up in the last leg with some upward prices and increased bids for some of the stocks that are in demand.

Stocks of 28 companies traded 6.99 million units valued at $27.2 million as 2 stocks reached an all-time high and one closed at a 52 weeks low and one at a 52 weeks high at the end of trading. The advance decline ratio turned decisively positive as 12 stocks advanced and 6 declined, as the indices with active trades all gained.

Trades of note Main Market | The all Jamaica Index gained 837.12 points to close at 88,586.88, the JSE market index was up by 475.50 to close at 87.178.11.

Grace Kennedy lost $1 to close at $57 in trading 22,451 shares, a continuation of recent weakness in the stock as the company’s stock buyback seems not to be active. Jamaica Money Market put on 30 cents to close at $8.80 with 151,000 units trading. Sagicor Life traded 21,820 shares at $9, the stock closed up by 45 cents, National Commercial Bank (NCB) closed up 40 cents to $19.50 while trading just 7,000 shares, importantly there was 73,000 units on the bid of $19.50 at the end of trading. The NCB move could well be linked with the expectation that the company will be releasing results and disclosing dividends on Thursday next week. Sagicor Investments traded down $1 to $17 but only traded 2,298 shares, Scotia Investments traded up 69 cents on 1,900 units and closed at $26.70. Barita’s 100 shares traded and pulled the stock down to a 52 weeks low at $2.30. At the end, the bid was at $2.50 for a small quantity.

Junior market | Stocks of nine companies traded in the junior market as the index climbed by 12.87 points to 816.26. Caribbean Cream traded 1 million shares and closed down firm at $1.06. Caribbean Producers traded 520,000 shares and closed up 7 cents at $2.10. General Accident traded 142,500 shares and closed down at $2 up 5 cents and Jamaican Teas saw buying coming in, as stock traded 120,000 shares and closed 28 cents better, at $4.28. Lasco Distributors traded 2.79 million shares and closed up 5 cents to $1.50 with Mayberry being the broker buying the bulk of them, the main selling broker was Scotia Investments. Lasco Financial traded at an all-time high of $1.45 but gave up some, as it closed at $1.39 while trading 500,946 units. Lasco Manufacturing traded 319,103 shares and dropped 2 cents to $1.68. Blue Power traded 14,390 shares and dropping 26 cents and closed at $10.04. Dolphin Cove closed at all-time high of $8.70.

Proven Investment Preference shares traded 1.06 million units valued at $5.4 million while there was no trading in the ordinary shares which are quoted in US dollars. At the close there was no stock on offer.

IC bid-offer Indicator | The Investor’s Choice bid-offer market indicator, shows that bids for 7 stocks were higher with 1 stock having an offer lower than their last selling price.

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

TTSE: Unilever up $1

July 18, 2013 by IC Insider.com

Thursday, 18th July 2013 | Trading activity returned to what has been taking place in recent weeks on the Trinidad & Tobago Stock Exchange when the level of trading pulled back from Wednesday’s increased volume. Stocks of 13 companies traded, of which 4 advanced, 3 declined and 6 traded firm as 324,125 units valued at $3.62 million traded.

Trinidad Cement, an IC Insider pick continues to attract investors with 262,170 shares trading for a value of $238,196, while losing a cent to close at $1.15. At the end of trading, there was a bid for 176,551 units at $1.15, the offer was at $1.20 for 5,000.

Scotiabank Trinidad & Tobago enjoyed trading, much lower than on Wednesday, with just 5,349 units trading at Wednesday’s closing price of $69.97, but it had a bid for 1,400 units at $70 at the end of the day. Guardian Holdings traded 16,800 shares for $268,792, while Barbados’ Sagicor Financial Corporation chipped in with 10,000 shares valued at $62,200. West Indian Tobacco, traded 8,148 shares valued at $957,864 as the stock closed at $118, up 49 cents. Unilever Caribbean gained $1 to end the day at $55 as it traded 3,040 shares. Clico Investment Fund was the only active security on the Mutual Fund Market, posting a volume of 61,955 shares valued at $1,391,735 as it fell 5 cents to $22.46

IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that there was 1 stock with its bid higher than the last selling price with 4 stocks having offers lower than their last selling price.

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

FX: US dollar rate stable

July 17, 2013 by IC Insider.com

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Wednesday, 17th July 2013 | Rates for buying and selling rates for the US dollar hardly changed on Wednesday as dealers bought US$22.9 million and sold US$23.6 million on a day when the overall purchases of all foreign currencies amounted to US$25.1 million and selling amounted to US$ 25.33 million. The highest and lowest rates for the US dollar remained fairly stable with no changes to the highest selling rate and the lowest buying rate.

The Jamaican dollar closed at a selling rate of $101.81 to the US dollar and authorised dealers purchased the US dollar for 101.07.

The Canadian dollar closed at a selling rate of $97.98 some 28 cents less than on Tuesday. Authorised dealers purchased the Maple leaf currency for $95.90, up 15 cents for the day. The Pound sterling closed at a selling rate of $154.58 to a pound, slipping 39 cents while buying took place by authorised dealers at $151.92, down $1.35 at the end of trading.

Highest rates traded in buying currencies were for the US dollar $102.50, for the Canadian $98.70 and for the Pound sterling $156 while the lowest buying rates were the US dollar $83.50, for the Canadian $78.60 and the Pound sterling $124.29.

Highest rates traded in selling the currencies were for the US dollar $107 no change from the day before, Canadian $101.33 down 16 cents, Pound sterling $158 a decline of $2.23 and the lowest selling rates were the US dollar $98 up 20 cents, Canadian $94.70 an increase of $1.20 and the Pound sterling $ 149.80 up 60 cents.

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

JSE: Advancing stocks = declining ones

July 17, 2013 by IC Insider.com

Wednesday, 17th July 2013 | In Wednesday’s trading on the Jamaican Stock Exchange, the advance decline ratio remained even as 8 stocks advanced and 8 declined as trading took place in the stocks of only 20 companies. The trading resulted in 9.129 million units valued at $21.2 million changing hands as 2 stocks reached an all-time high, one closed at a 52 weeks low and only one closed at an all-time high at the end of trading.

Main Market | The all Jamaica Index gained 212.18 points to close at 87.749.76. The JSE market index was up by 120.52 to close at 86,702.61.

Carreras’ stock declined to $53.75 off 75 cents as it traded 54,578 units. Grace Kennedy gained 79 cents to close at $58 in trading 23,118 shares. Sagicor Life traded 260,00 shares as high as $9, the stock closed at $8.55 up by 5 cents, National Commercial Bank (NCB) closed down 40 cents to $19.10 while trading just 49,500 shares. Jamaica Money Market put on 40 cents to close at $8.50 with only 200 units trading. Scotia Investments dropped 50 cents on 1,500 units and closed at $26.01.

Junior market | The junior market index fell by 11.07 points to 803.39. Caribbean Cream traded 434,800 shares and closed down firm at $1.06. Lasco Distributors traded 6.34 million shares and closed down 6 cents to $1.45. Lasco Financial closed at $1.39 while trading 324,288 units. Lasco Manufacturing traded 1.07 million shares to close up at $1.70. Blue Power traded 7,500 shares and gained 30 cents to close at $10.30.

IC bid-offer Indicator | The Investor’s Choice bid-offer market indicator, shows that bids for 5 stocks were higher with 2 stocks having an offer lower than their last selling price.

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

TTSE: The day was BNSTT’s

July 17, 2013 by IC Insider.com

Wednesday, 18th July 2013 | It was a big day on the Trinidad & Tobago Stock Exchange with 11 securities of which 2 advanced, 1 declined and 8 traded firm. But it was not the number of companies that traded that made the day big. It was the 1.2 million units valued at $23.1 million that was the real story as this market as not seen this level of trade for some time.

Trinidad Cement, an IC Insider pick continues to reflect increasing interest from investors and was a volume leader with 842,902 shares trading for a value of $978,715, increasing by a cent to end the day at $1.16. Scotiabank Trinidad & Tobago may not have been the dominant volume player with 307,502 shares, but what it lacked there was more than made up by the magnitude of the dollar value of the trade which amounted to $21,515,915. Prestige Holdings contributed 24,778 shares to the total traded with a value of $231,674, while Barbados’ Sagicor Financial Corporation chipped in with 7,162 shares valued at $44,476.02. Clico Investment Fund was the only active security on the Mutual Fund Market, posting a volume of 6,140 shares valued at $138,150 as it traded firm.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that there was 1 stock with the bid higher than the last selling price with 4 stocks having offers lower than their last selling price.

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

FX: Big Pound move

July 16, 2013 by IC Insider.com

Tuesday, 16th July 2013 | The British Pound made a big move on Tuesday as it closed up by $2.74 on average when dealers bought the currency, pushing the buying rate at the end of trading to $153.27. The selling rate climbed by $1.30 to close the day at $154.97. Authorised dealers bought £2.88 million and sold just £1.47 million. The Pound was bought as high as$156.72 which was $2.82 higher than on Monday and as low as $126.33 or $2 less than Monday’s low. Selling of the British currency took place as high as $160.23, just 6 cents less than Monday and as low as $149.20, the same as Monday. The major rate change for the Pound relates to an increase in the value of the Pound against the US dollar on Tuesday and could rise further on Wednesday as the published minutes coming out of the UK central bank’s meeting to discuss monetary policy helped pushed the British pound up against major currencies.

There was an 8 cent upward movement on both the average buying and selling rates for the US dollar. The highest and lowest buying rate for the US currency hardly changed while the highest selling rate slipped by 21 cents and the lowest climbed back by $14.30 to $97.80. The amount of US dollar purchased amounted to US$25.37 million and US$21.98 million was sold.

The Canadian dollar closed at a selling rate of $98.26 down 36 cents from Monday and authorised dealers purchased the Canadian dollar for $95.75, which is 39 cents more than on Monday. The highest rate was $98.80, the same rate as the previous trade and lowest buying rate $78.73, just a 5 cent increase. Both the highest and lowest selling rates declined with the lowest down $1.20 to $93.50.

The total amount of currency traded was US$31.6 million while $26.5 million was sold.

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

JSE: 121m Kremi shares trade

July 16, 2013 by IC Insider.com

Tuesday, 16th July 2013 | Caribbean Cream was the dominant trade today as 121.14 million units were crossed by Stock & Securities for a client in two blocks of 60.5 m units each. All traded at $1.10 for a total consideration of $133.26 million. At the time of the prospectus, Scoops Unlimited was shown as owning 121,141,801 units and this would have been the block that was traded and put into two new hands. The other dominant trade was National Commercial Bank which traded 1 million units at a value of $20.15 million. The stock traded up 44 cents on the day to close at $19.50.

A total of 30 companies traded 124 million stocks with a value at $172.67 million for the day. The advance decline ratio was exactly even with 7 stocks advancing and 7 declining. The indices declined sharply as Scotia Group dropped sharply on the day.

Trades of note Main Market | The all Jamaica Index gave up what was gained yesterday and more, as the index shed 2,310.88 points to close at 87,537.58 points. The JSE market index lost 1,312.62 points to close at 86,582.09 as Carreras traded 13,280 shares between $53.90 and $54.50. The stock closed off 87 cents at $54.50. Scotia Group traded 597,000 units and lost 92 cents to close at $21.08. Jamaica Producers lost 50 cents to close at $19.50 on 56,000 units, Pan Jamaican put on 39 cents to close at $51.50 while trading 5,000 shares.

Junior market | 12 stocks in the junior market traded as most of the stocks recorded moderate increases and the junior market index moved up by 7.03 points to 814.46. Caribbean Cream, fresh from its first quarterly report to the stock exchange which showed improved profit in the last quarter to May, traded 121.145 million units and closed at $1.06. AMG Packaging traded 200,000 units but remained firm at $4. 25, Blue Power traded 38,172 units to close at $10. Lasco Distributors has struggled to hold the higher prices it recently traded at and fell back to $1.50 while exchanging 155,517 shares. Lasco Financial is doing a little better having traded at a new all-time high during the day at $1.41 but closed at $1.40, the same close as Monday’s, as 227,500 units changed hands. Lasco Manufacturing traded 190,288 shares and gained a mere cent up to $1.66.

Market intelligence | The Cable & Wireless stocks on offer are now down to under 29 million shares at 15 cents. Gleaner has over 1.24 million units on the bid at $1.16 but there are 6.4 million units on offer at $1.50. RJR still has a bid for 4.9 million units that was at $1.23 and has seen the bid moved to $1.30.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 5 stocks were higher with 2 stocks having offers lower than their last selling price.

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

TTSE: TCL continues up

July 16, 2013 by IC Insider.com

Tuesday, 16th July 2013 | The total amount of trading took place in 9 securities of which 3 advanced, 1 declined and 5 traded firm on Tuesday as 1,172,484 units crossed the flo0r of the Trinidad Exchange with a value for $3 million.

Jamaica’s National Commercial Bank traded 677,000 shares, for a value of $812,217. IC Insider’s buy rated Trinidad Cement exchanged 448,600 shares for $515,890 as the stock continues to gain closing at $1.15 with a bid at $1.17 for 152,000 shares and the offer at $1.31 for 50,000 units, an indication of more gains ahead. Trinidad’s Scotiabank enjoyed 11,945 shares switching ownership with a value of $835,791, while Angostura Holdings added 3,000 shares valued at $27,169, losing 4 cents to close at $9.06. Clico Investment Fund was the only active security on the Mutual Fund Market, posting a volume of 28,636 shares valued at $644,310. Ansa Merchant Bank Limited enjoyed the day’s largest gain, increasing 7 cents to end the day at $38.60 as 550 units traded.

West Indian Tobacco has a bid at $117.51 for 20,869 shares. The offer is at $118 for a mere 691 units. Unilever has a bid at $54 for 22,980 units, the offer is 43 units at $54.14.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 1 stock were higher with 4 stocks having offers lower than their last selling price.

Conversely, Angostura Holdings Limited suffered the day’s sole decline, falling $0.04 to end the day.

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

FX: More buying than selling

July 15, 2013 by IC Insider.com

Monday, 15th July 2013 | In today’s forex trading, the Jamaican dollar closed at a selling rate of $101.71 to the US dollar, down 9 cents and authorised dealers purchased the US dollar for $100.99, an increase of 22 cents. The Canadian dollar closed at a selling rate of $98.62, an increase of 47 cents. Authorised dealers purchased the Canadian dollar for $95.37, $1.21 less than on Friday. The Pound sterling closed at a selling rate of J$153.67 up 2 cents, while buying took place by authorised dealers at J$150.53 for a decline of 83 cents.

The total amount of currency bought was US$34.1 million while $29.74 million was sold. While there was US$5.4 million more US dollars purchased than sold, more Canadian dollars sold than was purchased as sales jumped to C$2.79 million versus only C$1.34 million bought.

There was little change in the highest and lowest rates for US dollar but the rate climbed by 50 cents for the highest buying rate which ended at $98.80 and 66 cents for the lowest buying rate which closed at $78.68. The highest selling rate for the Canadian dollar moved up by $1.02 in closing at $101.60 and the lowest selling rate rose by $1.20 to $94.70.

Highest rates traded in Pound sterling was $153.90 buying reflecting a 60 cents fall, while the buying rate declined by just 5 cent. The lowest selling rate climbed $1.40 to $149.20 and highest selling rates increased by $1.39 to $160.29.