Trading in the foreign market on Thursday resulted in a slight slippage of the value of the Jamaican dollar against the US dollar as US$40.1 million of the US dollar was sold by dealers at an average rate of $127.20 to the US dollar.
On Wednesday US$42.5 million was sold by dealers at an average rate of $127.18. US currency purchases amounted to US$39.2 million on Thursday, at an average rate of $126.31 compared to Wednesday, with US$41 million at $126.29.
Dealers purchased US$46.3 million, versus US$45.3 million on Wednesday in all currencies in Jamaica’s forex market and sold US$46.1 million compared with US$44.8 million of all currencies sold previously.
The selling rate for the Canadian dollar slipped to J$99.14 from J$98.16 at the close on Wednesday. The selling rate for the British Pound dropped to J$167.53 versus J$168.48 on Wednesday and the euro gained value against the Jamaican dollar, to J$149.42 to buy the European common currency, versus J$148.92 previously.
Jamaican$ inched higher vs US – Thursday
Jamaican$ resumes gaining vs US$ – Wednesday
Trading in the foreign market on Wednesday resulted in a slight slipping of the Jamaican dollar against the US dollar as US$42.5 million of the US dollar was sold by dealers at an average rate of $127.18 to the US dollar, compared to US$34.5 million at an average rate of $127.29 on Tuesday.
US currency purchases amounted to US$41 million on Wednesday, at an average rate of $126.29 compared to Tuesday, with US$37.9 million at $126.08.
Dealers purchased US$45.3 million, versus US$49.8 million on Tuesday in all currencies in Jamaica’s forex market and sold US$44.8 million compared with US$43.8 million previously.
At Midday, dealers bought US$17.9 million at J$126.84 and sold US$11.3 million at J$127.17 compared to the buying of US$16.17 million at J$126.49 and selling of US$13.2 million at J$127.20 at the same time on Tuesday.
The selling rate for the Canadian dollar dropped to J$98.16 from J$99.38 at the close on Tuesday. The selling rate for the British Pound rose to J$168.48 versus J$168.29 on Tuesday and the euro gained value against the Jamaican dollar, to J$148.92 to buy the European common currency, versus J$146.72 previously.
Jamaican $ slips slightly vs US dollar – Tuesday
Trading in the foreign market on Tuesday resulted in a slight slipping of the Jamaican dollar against the US dollar as US$34.49 million of the US dollar was sold by dealers at an average rate of $127.29 to the US dollar.
On Monday US$43.91 million was sold at an average rate of $127.21. US currency purchases amounted to US$37.86 million on Tuesday, at an average rate of $126.08 compared to Monday, with US$40.76 million at $126.14.
Dealers purchased US$49.81 million, versus US$53.29 million on Monday in all currencies in Jamaica’s forex market and sold US$43.80 million compared with US$54.67 million previously.
At Midday, dealers bought US$16.17 million at J$126.49 and sold US$13.2 million at J$127.20 compared to the buying of US$22.9 million at J$126.81 and selling of US$16.4 million at J$126.99 at the same time on Monday.
The selling rate for the Canadian dollar dropped to J$99.38 from J$101.81 at the close on Monday. The selling rate for the British Pound climbed to J$168.29 versus J$165.89 on Monday and the euro fell in value against the Jamaican dollar, to J$146.72 to buy the European common currency, versus J$147.64 previously.
Jamaican $ gains against 3 majors – Monday
Trading in the foreign market on Monday resulted in more strengthening of the Jamaican dollar as US$43.91 million of the US dollar was sold by dealers at an average rate of $127.21 to the US dollar, compared to US$30.91 million at an average rate of $127.37 on Friday.
US currency purchases amounted to US$40.76 million on Monday, at an average rate of $126.14 compared to Friday, with US$31.74 million at $126.22.
Dealers purchased US$53.29 million, versus US$42.62 million on Friday in all currencies in Jamaica’s forex market and sold US$54.67 million compared with US$53.93 million previously.
At Midday, dealers bought US$22.9 million at J$126.81 and sold US$16.4 million at J$126.99 compared to the buying of US$10.97 million at J$126.67 and selling of US$5.9 million at J$127.24 at the same time on Friday.
The selling rate for the Canadian dollar rose to J$101.81 from J$99.73 at the close on Friday. The selling rate for the British Pound declined to J$165.89 versus J$166.41 on Friday and the euro fell in value against the Jamaican dollar, to J$147.64 to buy the European common currency, versus J$149.12 previously.
Tough economics hit West Indian Tobacco
Tough economic conditions, flowing from an ongoing recession in Trinidad, together with increased Excise and Corporation Tax, the business environment resulted in significant changes in consumption patterns adversely affecting revenue of West Indian Tobacco.
The situation seems to have worsened with illicit cigarettes in the country. According to the Chairman, Anthony Phillip “the Company continues to engage with relevant authorities and stakeholders on the issue of the increased presence of suspected illicit products in the market which has negatively affected our business.”
Against this backdrop, West Indian Tobacco has recorded profit before taxation of $398 million and net profit of $276 million for the nine months to September, down from $373 million in 2016. Revenues fell from $891 million to $787 million but revenues inched just higher in the quarter to $274 million from $272 million in 2016 and revenues net of excise tax was slightly down for the quarter.
Profit after tax for the September quarter fell from $123 million to $97 with tax increasing to $44 million from $43 million in 2016.
The Company continues to proactively respond to the evolving market conditions with ongoing reviews of its Brand Portfolio, Trade Marketing, and Distribution strategies, as well as careful cost management across its operation.
The Board approved the payment of a third interim dividend of $1.14 per ordinary share payable on 24 November 2017, the payment is down compared to $1.44 paid in 2016.
Earnings per share came out at $1.16 for the quarter compared to $1.46 for the similar period in 2016 and for the nine months period $3.27 versus $4.42 in 2016 and should end around $4.75 for the full year giving it a PE ratio of 26 and should result in more decline for the stock. In 2016, earnings amounted to $6.12 per share.
The stock that traded at $127.01 earlier in the year is down to $124.96 on the Trinidad and Tobago Stock Exchange.
Cement to head out of TOP 10
Caribbean Cement increased sales by 14% in Q3 2017.
IC Insider.com BUY RATED Caribbean Cement that showed all the signs of a big pay day is set to break out of the TOP this coming week as investors belated respond to this year’s results.
The company posted earnings of 88 cents for the September quarter, from a 15 percent increase in volume sales and should earn over $3 per share for 2017 and seems set to earn more than $4 in 2018 as it benefits from an upsurge in construction activity that will accelerate next year. The stock climbed to trade at a 52 weeks’ high of $40 on Friday, but closed at $36.10, a strong 33 percent ahead of the close of the previous week. Berger Paints is up 21 percent from last week’s close and is heading higher with very good prospects for increased profits this fiscal year and the next, as construction activity continues to benefit from increased demand, helped by falling interest rates that will make home ownership less costly than before.
Pulse Investments dropped out of the Top tier and Cable and Wireless has returned, the next set of results should help to move this stock higher. The Junior Market saw one change with Main Event entering, just edging out Stationery and Office Supplies.
The main market enjoyed the fourth consecutive weekly record close, driving the All Jamaica Composite Index to a record 321,000.17. 
The market is well clear of resistance around 300,000 points on the all Jamaica Index and continues heading to the next major resistance at the 360,000 points range, on its way to the 500,000 points mark in 2018.
At the close of Friday, the average PE ratio for Junior Market Top stocks is at 8.3 and a PE at 8 for the main market TOP 10. The average PE for the overall main market trades at 14.2 and 13.8 for Junior Market, based on 2017 estimated earnings.
At the close of the week, IC Insider.com’s TOP 10 stocks now trade at an average discount of 40 percent to the average of the market for Junior Market Top stocks and 44 percent for the main market.
Market Watch| Investors should keep a keen eye for Caribbean Cement, Cable & Wireless, NCB, Berger Paints, Jamaica Broilers, JMMB Group, Access Financial, General Accident, Paramount Trading and Stationery and Office.
Jamaican $ gains against all majors – Friday
Trading in the foreign market during the past week was the highest for the month with US$289 million purchased by dealers of all currencies and selling of US$279 million, while US currency purchased amounted to $228 million and US$210 was sold.
Trading on Friday resulted in more strengthening of the Jamaican dollar as US$30.91 million of the US dollar was sold by dealers at an average rate of $127.37 to the US dollar, compared to US$33.84 million at an average rate of $127.49 on Thursday.
US currency purchases declined from the previous day, to US$31.74 million on Friday, at an average rate of $126.22 compared to Thursday, with US$35.96 million at $126.59.
Dealers purchased US$42.62 million, versus US$46.14 million on Thursday in all currencies in Jamaica’s forex market 
and sold US$53.93 million compared with US$43.23 million previously.
At Midday, dealers bought US$10.97 million at J$126.67 and sold US$5.9 million at J$127.24 compared to the buying of US$10.58 million at J$126.80 and selling of US$5.35 million at J$127.43 at the same time on Thursday.
The selling rate for the Canadian dollar dropped to J$99.73 from J$100.21 at the close on Thursday. The selling rate for the British Pound declined to J$166.41 versus J$168.47 on Thursday and the euro fell in value against the Jamaican dollar, to J$149.12 to buy the European common currency, versus J$151.76 previously.
Jamaican $ makes modest gain – Thursday
Sale of US dollar by dealers, fell to US$33.84 million at an average rate of $127.49 to the US dollar, at the close of trading, on Thursday, down from US$44.57 million at an average rate of $127.53 on Wednesday.
US currency purchases declined from the previous day to US$35.96 million on Thursday, at an average rate of $126.59 compared to Wednesday, with US$44.40 million at $126.63.
Dealers purchased US$46.14 million, versus US$58.58 million on Wednesday in all currencies in Jamaica’s forex market and sold US$43.23 million compared with US$56.55 million previously.
At Midday, dealers bought US$10.58 million at J$126.80 and sold US$5.35 million at J$127.43 compared to the buying of US$20 million at J$127.10 and selling of US$12.5 million at J$127.59 at the same time on Wednesday.
The selling rate for the Canadian dollar dropped to J$100.21 from J$102.37 at the close on Wednesday. The selling rate for the British Pound climbed to J$168.47 versus J$167.80 on Wednesday and the euro inched up in value against the Jamaican dollar, to J$151.76 to buy the European common currency, versus J$150.68 previously.
Forex inflows well ahead of outflows – Wednesday
Dealers sold US$44.57 million at an average rate of $127.53 to the US dollar, at the close of trading, compared to US$39.74 million at $127.61 on Tuesday.
US currency purchases, amounted to US$44.40 million on Wednesday, at an average rate of $126.63 compared to Tuesday, with US$39.74 million at $126.95.
Dealers purchased US$58.58 million, versus US$54.45 million in all currencies into Jamaica’s forex market and sold US$56.55 million compared with US$56.20 million previously.
At Midday, dealers bought US$20 million at J$127.10 and sold US$12.5 million at J$127.59 compared to the buying of US$19.1 million at J$127.10 and selling of US$15.17 million at J$127.49 at the same time on Tuesday. In the Central Bank foreign exchange auction the weighted average rate of accepted bids of $127.34 as 44 bids amounting to US$25.7 million were entered for the US$10 million that was on offer.
The selling rate for the Canadian dollar rose to J$102.37 from J$101.86 at the close on Tuesday. The selling rate for the British Pound fell to J$167.80 versus J$168.30 on Tuesday and the euro inched up in value against the Jamaican dollar, to J$150.68 to buy the European common currency, versus J$150.16 previously.
J$ gains but trading levels dip -Tuesday
Dealers sold US$39.74 million at an average rate of $127.57 to the US dollar, at the close of trading, compared to US$57.69 million at $127.61 on Monday.
US currency purchases, amounted to US$39.74 million on Tuesday, at an average rate of $126.65 compared to Monday, with US$76.03 million at $126.95.
Dealers purchased US$ 54.45 million, versus US$87.10 million in all currencies into Jamaica’s forex market and sold US$56.20 million compared with US$68.80 million previously.
At Midday, dealers bought US$19.1 million at J$127.10 and sold US$15.17 million at J$127.49 compared to the buying of US$37.8 million at J$127.24 and selling of US$28.57 million at J$127.64 at the same time on Monday.
The selling rate for the Canadian dollar rose to J$101.86 from J$101.44 at the close on Monday. The selling rate for the British Pound rose to J$168.30 versus J$166.91 on Monday and the euro dropped in value against the Jamaican dollar, to J$150.16 to buy the European common currency, versus J$150.37 previously.