The Jamaica Stock Exchange US dollar market rose for a sixth consecutive on Thursday, with a 175 percent rise in the volume of stocks exchanged, and a 214 percent rise in value over Wednesday, resulting in the trading of seven securities, compared to eight on Wednesday, with four rising, one declining and two ending unchanged.
Investors traded 3,235,927 shares for US$55,292, sharply up from 174,023 units at US$17,600 on Wednesday.
Trading averaged 462,275 units at US$7,899 from 21,753 shares at US$2,200 on Wednesday, with a month to date average of 68,044 shares at US$4,634 compared to 50,007 units at US$4,485 on the previous trading day. August ended with an average of 53,206 units for US$7,288.
The JSE US Denominated Equities Index gained 6.54 points to end at 216.21.
The PE Ratio, a measure used in computing appropriate stock values, averages 9. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November and August 2023.
Investor’s Choice bid-offer indicator shows no stock ending with a bid higher than the last selling price and one with a lower offer.
At the close, First Rock Real Estate USD share climbed 0.97 of one cent to 6.9 US cents after exchanging 159,937 shares, Productive Business Solutions increased 6.75 cents to US$1.39 after 681 units were traded, 
Proven Investments rose 2 cents to close at 21 US cents with investors trading 61,193 stocks. Sygnus Credit Investments USD share remained at 10.98 US cents as investors exchanged 10,564 stock units, Sygnus Real Estate Finance USD share dropped 0.01 of a cent to end at 12.37 US cents with the swapping of 3,545 stocks and Transjamaican Highway rallied 0.06 of a cent to end at 0.99 of one US cent after a transfer of 3,000,000 shares.
In the preference segment, Eppley 6% preference share ended at US$1.13 after 7 units were traded.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
6 days of gains for JSE US dollar market
Buoyant Junior Market
Trading closed on the Junior Market of the Jamaica Stock Exchange Thursday, with the volume of stocks traded declining 15 percent with a 20 percent lower value than on Wednesday resulting from 41 trading of securities versus 43 on Wednesday and ended with 21 rising, 16 declining and four closing unchanged.
A total of 17,734,945 shares were traded for $68,426,190 compared to 20,778,103 units at $85,799,358 on Wednesday.
The day’s trading averaged 432,560 shares at $1,668,931 compared to 483,212 stocks at $1,995,334 on Wednesday, with the month to date, averaging 471,994 units at $1,571,412 in line with the 473,842 stock units at $1,566,843 on the previous day. August closed with an average of 407,186 units at $1,330,946.
Future Energy Source led trading with 5.34 million shares for 30.1 percent of total volume, followed by Jamaican Teas with 4.83 million units for 27.2 percent of the day’s trade, Dolla Financial closed with 1.40 million units for 7.9 percent market share, Fosrich accounted for 1.26 million units or 7.1 percent of traded shares and ONE on ONE Educational with 1.07 million units for 6 percent if the market.
At the close, the Junior Market Index rose 10.66 points to settle at 4,193.43. Consolidated Bakeries traded at a 52 weeks’ high in closing at $2.91.
The PE Ratio, a measure of computing appropriate stock values, averages 12.9. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, AMG Packaging rose 33 cents to $3.89 with a transfer of 6,579 shares, Blue Power gained 10 cents to close at $3.23 in switching owners of 545 units, Cargo Handlers dipped $2.89 to $11.11 after finishing trading of 2,500 stock units. Dolphin Cove advanced $1.39 to end at $14.49 with investors transferring 9,991 stocks, EduFocal popped 28 cents in closing at $2.65 after an exchange of 133,064 units, Elite Diagnostic climbed 17 cents in closing at $3.50 after 13,732 stock units changed hands. Express Catering increased 19 cents to $5.60 in exchanging 119,573 stocks, General Accident lost 75 cents in ending at $5 and trading 5,000 shares, Honey Bun dropped 36 cents to close at $7.90, with 143,821 shares crossing the market. iCreate declined 20 cents to end at $2.80 with an exchange of 440,985 stock units, Jamaican Teas rallied 24 cents to close at $2.95 after a transfer of 4,827,665 stocks, Knutsford Express advanced 15 cents to end at $7.40 in trading 4,508 units. 
Spur Tree Spices rose 16 cents to $3.46, with 797,951 units clearing the market, Stationery and Office Supplies popped 45 cents in closing at $16.10 while exchanging 8,000 stock units and tTech gained 39 cents to $2.99 after an exchange of a mere one share.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading drops on Trinidad market
Market activity ended on the Trinidad and Tobago Stock Exchange on Thursday, with the volume of stocks traded declining 43 percent, with 31 percent less value than on Wednesday, resulting from trading in 18 securities up from 10 on Wednesday, with prices of four rising, three declining and 11 remaining unchanged.
A total of 137,453 shares were exchanged for $2,186,097 down from 243,182 shares at $3,177,226 on Wednesday. An average of 7,636 units traded at $121,450 compared to 24,318 shares at $317,723 on Wednesday, with trading month to date averaging 46,718 shares at $472,219 versus 48,630 units at $489,377 on the previous day. The average trade for August amounts to 40,829 units at $378,385.
The Composite Index shed 0.79 points to close at 1,340.63, the All T&T Index fell 1.53 points to 2,008.96 and the Cross-Listed Index remained at 87.56.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Agostini’s ended at $45 trading 242 shares, Angostura Holdings dipped 5 cents to close at $23 in exchanging 2,475 stock units, Calypso Macro Investment Fund remained at $22 with a transfer of 85 units. Clico Investment Fund rallied 1 cent to $30, with 3,301 stocks clearing the market, First Citizens Group remained at $50 in switching ownership of 205 stock units, FirstCaribbean International Bank ended at $5.10 with investors transferring 5,565 stocks. Guardian Holdings ended at $25.50, with 1,474 shares changing hands, JMMB Group increased 3 cents to $2.30 in trading 10,000 units, L.J. Williams B share fell 15 cents to $2.05 after exchanging 5,000 units. 
Massy Holdings remained at $4.75 after swapping 67,853 shares, National Enterprises ended at $3.30 with a transfer of 1,600 stocks, Point Lisas remained at $3.11 after trading 160 stock units. Prestige Holdings remained at $6.40 in exchanging 3,528 stock units, Republic Financial Holdings climbed 2 cents to $140.02, with 110 stocks crossing the market, Scotiabank ended at $78.40, with 15,391 units crossing the exchange. Trinidad & Tobago NGL lost 5 cents in closing at $21.45 after trading 2,079 shares, Unilever Caribbean gained 50 cents in ending at $13 after exchanging 12,947 stocks and West Indian Tobacco ended at $22.50, with 5,438 shares changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE US dollar market gains
Trading on the Jamaica Stock Exchange US dollar market ended on Wednesday, with the volume of stocks exchanged by investors rising 19 percent, with a 36 percent lesser value than on Tuesday, resulting in the trading of eight securities, compared to seven on Tuesday with one rising, two declining and five ending unchanged.
Overall, 174,023 shares were traded for US$17,600 compared to 145,974 units at US$27,536 on Tuesday.
Trading averaged 21,753 units at US$2,200 compared with 20,853 shares at US$3,934 on Tuesday, with a month to date average of 50,007 shares at US$4,485 down from 51,566 units at US$4,611 on the previous day. August ended with an average of 53,206 units for US$7,288.
The JSE US Denominated Equities Index gained 0.98 points to end at 209.67.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.4. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November and August 2023.
Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than the last selling price and one with a lower offer.
At the close, First Rock Real Estate USD share slipped 0.07 of a cent to 5.93 US cents after trading 140,971 shares, Productive Business Solutions ended at US$1.3225 with one stock unit changing hands, Proven Investments remained at 19 US cents, with an exchange of 27,877 units. Sterling Investments dipped 0.01 of a cent to 2.09 US cents, with 70 stocks clearing the market and Sygnus Credit Investments USD share remained at 10.98 US cents with investors transferring 1,650 shares.
In the preference segment, Eppley 6% preference share ended at US$1.13 with an exchange of one stock unit, Equityline Mortgage Investment preference share ended at US$1.85 as investors exchanged one share and JMMB Group 6% rallied 4.99 cents to close at US$1.0899, with 3,452 stock units crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Main Market slips on trading spike
Market activity on the Jamaica Stock Exchange Main Market ended on Wednesday, with the volume of stocks traded rising 168 percent with 231 percent higher value than Tuesday, with Barita Investments accounting for 49 percent of the total value of stocks traded on the Main Market after activity ended in 57 securities compared to 55 on Tuesday, with 19 rising, 21 declining and 17 ending unchanged.
Barita Investments headquarters
A total of 28,254,323 shares were traded for $365,934,690 versus 10,530,582 units at $110,705,795 on Tuesday.
Trading on Wednesday averaged 495,690 units at $6,419,907 versus 191,465 shares at $2,012,833 on Tuesday and month to date, an average of 226,546 units at $3,170,510, compared with 211,963 stock units at $2,994,449 on the previous day. August closed with an average of 738,534 units at $5,975,613.
Transjamaican Highway led trading with 17.70 million shares for 62.6 percent of total volume, followed by Wigton Windfarm with 2.62 million units for 9.3 percent of the day’s trade, Barita Investments ended with 1.80 million units for 6.4 percent of the market, Pulse Investments with 1.26 million units for 4.4 percent of shares traded and Massy Holdings with 1.13 million units for 4 percent market share.
The All Jamaican Composite Index dropped 388.89 points to end at 408,412.37, the JSE Main Index shed 2,103.56 points to 356,047.27 and the JSE Financial Index popped 0.26 points to settle at 86.13.
The PE Ratio, a formula used to ascertain appropriate stock values, averages 13.8 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments climbed $3.85 to $102.85 in trading 1,797,206 shares, Caribbean Cement popped $1.70 to end at $61, with 3,236 stock units crossing the market, Carreras gained 48 cents in closing at $8.88 after exchanging 58,865 stocks. Eppley dipped 40 cents to $38.50 after trading 500 units, First Rock Real Estate increased $1.75 to close at $13.75, with 133,786 units clearing the market, GraceKennedy dropped 80 cents to close at $90, with 116,985 stocks changing hands. Guardian Holdings fell $3 to $497 in an exchange of 114 shares, Kingston Wharves advanced $1 in ending at $37 as investors exchanged 2,918 stock units, Massy Holdings declined 55 cents in closing at $87.45, after 1,129,652 stocks changed hands. Mayberry Jamaican Equities rose $1.58 to end at $12.63 with an exchange of 141,470 shares, NCB Financial rallied $1 to end at $90, with a transfer of 100,439 stock units, Proven Investments shed $1.98 in closing at $30.02, with 4,100 units crossing the exchange. 
Salada Foods lost 47 cents in ending at $4.21 after exchanging 26,641 stocks, Seprod shed $2.47 to close at $64.53 in switching ownership of 16,339 units and Stanley Motta declined 40 cents to end at $4.50 after trading 33,339 shares and Supreme Ventures rose 40 cents to $27.50 with the swapping of 288,623 stock units.
In the preference segment, 138 Student Living preference share rallied $7.50 to close at $57.50 with investors transferring 256 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market trading bounced
The Junior Market of the Jamaica Stock Exchange climbed higher on Wednesday after the volume of stocks traded jumped 77 percent and the value jumped 111 percent more than on Tuesday with 43 securities trading versus 46 on Tuesday and ended with 21 rising, 14 declining and eight closing unchanged, leading to 20,778,103 shares being exchanged for $85,799,358 up from 11,719,807 units at $40,628,150 on Tuesday.
Big Fesco trade pushed the price up by 29 cents.
Future Energy Source led trading with 9.65 million shares for 46.5 percent of total volume, followed by AMG Packaging with 2.78 million units for 13.4 percent of the day’s trade, Everything Fresh ended with 1.79 million units for 8.6 percent market share, ONE on ONE Educational traded 1.37 million units for 6.6 percent if the market, iCreate with 1.25 million units controlled 6 percent market share and JFP Limited with 1.14 million units for 5.5 percent of shares traded.
Trading averaged 483,212 shares at $1,995,334 compared to 254,778 shares at $883,221 on Tuesday with month to date, averaging 473,842 units at $1,566,843 compared to 473,358 shares at $1,544,697 on Tuesday the previous trading day. August closed with an average of 407,186 units at $1,330,946.
At the close, the Junior Market Index rose 49.01 points to settle at 4,182.77, but the market closed with negative sentiment as shown by today’s reading of the Investor’s Choice bid-offer indicator. The PE Ratio, a measure of computing appropriate stock values, averages 12.7. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and six with lower offers.
At the close, Access Financial rallied 16 cents to $24.69 with the swapping of 326 shares, AMG Packaging lost 24 cents to end at $3.56 with an exchange of 2,777,614 stock units, CAC 2000 advanced $1.40 to $8.50 in exchanging 1,859 units. Consolidated Bakeries climbed 32 cents in closing at $2.82 as investors exchanged 37,013 stocks, Derrimon Trading increased 12 cents to $2.33 in switching ownership of 232,498 units, Dolphin Cove rose 32 cents to $13.10 after a transfer of 7,088 stocks. EduFocal shed 13 cents to $2.37 with investors transferring 18,296 shares, Elite Diagnostic fell 21 cents in closing at $3.33 in an exchange of 4,362 stock units, Everything Fresh dipped 20 cents to end at $1.50 in trading 1,785,469 shares. Future Energy Source popped 29 cents to close at $5.85 after trading 9,654,327 stocks, Honey Bun gained 66 cents to end at $8.26, with 6,613 stock units clearing the market, iCreate popped 11 cents to $3 with a transfer of 1,245,783 units. 
Iron Rock Insurance gained 30 cents in closing at $2.80, with 100 shares changing hands, Lasco Distributors rallied 21 cents to close at $3.11 while exchanging 170,347 stock units, ONE on ONE Educational dropped 14 cents to $1.61, with 1,374,982 stocks crossing the market and Stationery and Office Supplies declined $1.10 in ending at $15.65 after an exchange of 12,950 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
7-0 for TTSE on Wednesday
The bearish sentiment in Tuesday’s trading when 40 percent of stocks trading on Trinidad and Tobago Stock Exchange on Tuesday continue on Wednesday, with no stock price rising, seven declining and three remaining unchanged, with 56 percent less volume of stocks trading with 
67 percent lower value than on Tuesday, resulting in trading 10 securities, down from 20 on Tuesday.
A total of 243,182 shares were exchanged for $3,177,226, down from 547,703 units at $9,500,672 on Tuesday. An average of 24,318 shares were exchanged at $317,723 compared to 27,385 units at $475,034 on Tuesday, with a month to date average of 4 8,630 units at $489,377 versus 49,309 units at $494,171 on the previous trading day. The average trade for August was40,829 units at $378,385.
The Composite Index fell 1.76 points to 1,341.42, the All T&T Index lost 3.40 points at 2,010.49 and the Cross-Listed Index remained unchanged at 87.56
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Agostini’s ended at $45 in an exchange of 500 shares, Clico Investment Fund fell $1.51 in closing at $29.99 with a transfer of 30,306 stocks, First Citizens Group remained at $50 with the swapping of 4,758 stock units.
Guardian Holdings dropped 25 cents to $25.50 in an exchange of 293 units, JMMB Group lost 3 cents to close at $2.27 after trading 82,115 shares, Massy Holdings closed at $4.75, with 69,251 stocks crossing the market. Republic Financial Holdings declined 15 cents to $140 after trading 834 stock units, Scotiabank shed 1 cent to close at $78.40 after finishing trading 2,394 units, Trinidad & Tobago NGL dipped 40 cents in closing at $21.50 after exchanging 3,544 stock units and West Indian Tobacco dropped 35 cents to end at a 52 weeks’ low of $22.50, with 49,187 units clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Knutsford Express looking good
Jamaica cross-country luxury bus operator, Knutsford Express is all smiles again having turned a loss of $96 million in 2021 into a profit of $78 million before other comprehensive income in the year to May 2022, but the position is even better when the loss of $33 million in the discontinued Florida business is considered.
Revenues for the year ending May 2022, jumped 77 percent to $1.11 billion from a covid19 battered 2021, with $629 million. Other income brought in $21.5 million for the year, with just about all, generated in the last quarter and appears to be from real estate rental. The audited statement says nothing about its source, but there was virtually no other income in the prior year.
The fourth quarter generated revenues of $339 million up 96 percent from $173 million in the May 2021 quarter, with profit surging to $82 million for the quarter, from a minuscule $10 million in 2021 before losses from the discontinued business.
Unfortunately, the company fails to compute direct operating costs, as such gross profit is not reported in their full year or quarterly reports. A clear backward step in an expanding financial space. Based on the audited financial statements, ICInsider.com computes gross profit before staff cost at 60 percent for 2022, up from 52 percent in 2021, with fuel accounting for the largest part, coming in at $150 million in 2022 from $73 million in the previous year. Parts and supplies accounted for $59 million, up from $29 million. Insurance costs rose to $37 million from $28 million last year, while Toll fees consumed $35 million against $20 million m 2021.
Operating expenses rose 40 percent to $979 million, from $698 million in 2021, with Salaries, wages and related expenses accounting for $306 million, up from $219 million in 2021, with the number of staff increasing from 178 to 221. Finance costs more than doubled from $15 million to $36.6 million.
Earnings per share for the year amounts to 16 cents, including losses from the discontinued business and 22 cents excluding it, while the fourth quarter delivered earnings of approximately 15 cents per share or 60 cents annualized. ICInsider.com projects full year 2023 earnings at 90 cents per share, with the PE ratio at 8.3 times 2023 earnings compared to a market average of just under 13, an indication that the stock is undervalued.
The company generated $267 million in gross cash inflows and expended $223 million on the purchase of fixed assets and was left with $54 million that helped in pushing total funds to $106 million at the end of the year, in addition, investments amounted to $92 million.
Borrowings moved from $487 million to $512 million, while payables rose from $98 million to $151 million. Shareholders’ equity rose from $666 million at the end of May last year to $751 million.
Knutsford Express is a buy, with the price more than doubling by the end of 2023.
Gains for JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended Tuesday, with the volume of stocks exchanged declining 48 percent with the value up 63 percent on Monday, resulting in seven securities traded, compared to eight on Monday, with three rising, one declining and three ending unchanged.
Overall, 145,974 shares were traded for US$27,536 compared to 278,103 units at US$16,872 on Monday.
Trading averaged 20,853 shares at US$3,934 versus 34,763 units at US$2,109 on Monday, with the month to date averaging 51,566 shares at US$4,611 versus 53,123 units at US$4,645 on the previous day. August ended with an average of 53,206 units at US$7,288.
The JSE US Denominated Equities Index rose 4.81 points to end at 208.69.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.7. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November and August 2023.
Investor’s Choice bid-offer indicator shows no stock ended with a bid higher than the last selling price and one with a lower offer.
At the close, First Rock Real Estate USD share rose 1 cent in closing at 6 US cents after trading 30,925 shares, Margaritaville remained at 14.99 US cents with 12 stocks crossing the exchange, 
Productive Business Solutions ended at US$1.3225 after just 1 stock unit was traded. Proven Investments dipped 2 cents to end at 19 US cents in switching ownership of 110,453 stock units and Sygnus Credit Investments USD share climbed 0.01 of a cent in ending at 10.98 US cents, with 1,895 shares changing hands.
In the preference segment, JMMB Group 5.75% remained at US$1.50, with one unit clearing the market and JMMB Group 5.75% increased 5 cents to US$1.80 after investors finished exchanging 2,687 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Main Market slippage
Market activity on the Jamaica Stock Exchange Main Market ended on Tuesday, with the volume of stocks traded declining 14 percent as 56 percent more funds passed through the market than on Monday, following trading in 55 securities compared to 60 on Monday, with 17 rising, 21 declining and 17 ending unchanged.
At the close, 10,530,582 shares were exchanged for $110,705,795 ccompared to 12,287,344 units at $70,856,504 on Monday.
Wednesday’s trading averaged 191,465 units at $2,012,833 versus 204,781 shares at $1,180,942 on Monday and month to date, an average of 211,963 units at $2,994,449 versus 213,094 units at $3,048,601 on the previous day. August closed with an average of 738,534 units at $5,975,613.
Transjamaican Highway led trading with 3.21 million shares for 30.5 percent of total volume followed by Pulse Investments with 2.50 million units for 23.7 percent of the day’s trade and Sagicor Select Financial Fund with 702,867 units for 6.7 percent market share.
The All Jamaican Composite Index declined 1,892.98 points to 408,801.26, the JSE Main Index fell 248.44 points to 358,150.83 and the JSE Financial Index rallied 0.39 points to settle at 85.87.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.7 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments popped $1 to $99, with 151,286 shares crossing the market, Caribbean Cement dipped $3.18 to $59.30 in an exchange of 144,468 stock units, Carreras declined 58 cents to $8.40 in trading 279,235 units. Eppley shed $2.10 to $38.90 with an exchange of 61 stocks, GraceKennedy fell $1.19 to close at $90.80 with investors transferring 75,728 units, Guardian Holdings rallied $5 to $500 with the swapping of 208 stocks. Jamaica Stock Exchange advanced 99 cents to $16.49 after 68,349 stock units crossed the market, Kingston Wharves lost $2 to close at $36 trading 12,169 shares, Massy Holdings gained $5.90 in closing at $88 after 530 stocks crossed the exchange. Mayberry Investments dropped 40 cents to close at $7.50 trading 352,655 shares, Mayberry Jamaican Equities dipped $1.95 to $11.05 as investors exchanged 80,083 units, 138 Student Living increased 96 cents to end at $6.50 after exchanging 5,015 stock units. 
PanJam Investment rose $1.49 in closing at $59.99, with 406,254 stock units clearing the market, Proven Investments climbed $1.80 to close at $32, with 22,884 units changing hands, Sagicor Group shed $2 in ending at $51.50 after an exchange of 35,774 shares. Scotia Group lost 50 cents to end at $35 in exchanging 1,276 stocks and Supreme Ventures declined 50 cents to $27.10 in switching ownership of 112,085 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
