JSE main market index down again – Tuesday

Stocks declined again in trading on the main market on Tuesday, even as advancing stocks outnumbered declining ones by a wide margin.
At the close the JSE All Jamaican Composite Index declined 1,074.92 points to 325,735.98 and the JSE Index fell 979.37 points to 296,782.29 as 27 securities changed hands, resulting in 15 advancing, 4 declining and 8 remaining firm.
Market activity resulted in 13,526,719 units valued at over $293,683,413 compared with 6,884,784 units valued at $95,400,967 trading on Monday.
In market activity, Barita Investments closed at $12.20, with 3,600 shares, Berger Paints gained 50 cents and ended at $20.50, with 1,194 stock units, Carreras rose 3 cents and concluded trading at $10.53, with 46,980 units, Caribbean Cement finished trading at $37.50, with 4,490 shares, Ciboney Group settled at 13 cents trading 100,000 shares. Grace Kennedy fell 32 cents trading 9,823 shares at $48.50, Jamaica Broilers lost 40 cents to end at $21.60, with 11,507,048 stock units changing hands, Jamaica Producers rose 19 cents in trading 3,167 units at $16.70, Jamaica Stock Exchange closed at $7.49, with 1,260 shares. JMMB Group ended at $27.60, with 166,847 shares after rising by 60 cents, Mayberry Investments eased just 1 cents, settling at $6.10, with 14,104 units, NCB Financial Group rose by $1 and ended trading at $95, with 55,030 shares, 1834 Investments traded 100 shares, gaining 1 cent to end at $1.08. PanJam Investment closed with a rise of 95 cents at $45.20, exchanging 839,895 stock units, Portland JSX ended at $10, with 129 units, Radio Jamaica lost 5 cents and finished at $1.30, with 68,950 shares, Sagicor Group gained 49 cents to settle at $38, with 84,700 shares, Sagicor Real Estate Fund finished 60 cents higher at $14.50, with 6,700 units. Salada Foods jumped $1.49 to a record high of $14.90, with 1,250 stock units, Scotia Group jumped $2.63 traded 62,337 units to close at $50.63, Seprod finished trading at $36, with 200 shares, Supreme Ventures gained 32 cents and ended at $13, with 306,420 shares. Victoria Mutual Investments concluded trading at $4.17, exchanging 101,057 stock units and Wisynco Group concluded trading at $10, after rising by 5 cents with 76,787 shares traded. In the main market preference segment, Jamaica Money Market 7.25% rose 5 cents and ended trading at $2.55, with 1,613 shares, Jamaica Money Market 7.5% closed trading at $2, with 2,271 stock units and JMMB Group 7.5% rose 4 cents to finish at $1.05, with 55,767 stock units changing hands.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “JSE main market volume dives – Tuesday.”

Carib Producers dominates Junior trades – Tuesday

Caribbean Producers traded the largest block of shares on Tuesday.

Caribbean Producers traded 14.96 million of 17,217,639 units trading on Tuesday and resulted in $87,073,568 changing hands and compares to 4,133,311 units valued at $30,002,574 trading on Monday.
The Junior Market closed on Tuesday with 25 securities trading, up from 21 on Monday with the market Index declining 2.51 points to close at 2,919.64. At the close of market activities, the prices of 9 securities advanced, 6 declined and 10 remained unchanged.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 5 stocks ending with bids higher than their last selling prices and 2 with lower offers.
Market activity ended with an average of 688,706 units for an average of $3,482,943 in contrast to 165,332 units for an average of $1,200,103 on Monday. The average volume and value for the month to date amounts to 182,941 units with an average value of $909,255 and previously 145,970 units with an average value of $721,120. April closed with an average of 121,622 units at $506,803, for each security traded.
At the close of the market, AMG Packaging ended at $2, with 26,280 stock units, CAC 2000 finished with a loss of 50 cents at $8, in trading 500 shares, Cargo Handlers settled at $9.70, with 4,471 shares changing hands, Caribbean Cream ended trading 11 cents higher at $5.01, with 1,500 shares, Caribbean Producers (CPJ) finished trading at $5.25, with 14,960,000 units changing hands. There were three main blocks of CPJ shares making up the total trade, and includes 2.33 million units, 3 million units and 8.63 million units. Consolidated Bakeries closed with a loss of 9 cents at $1.80, in trading 100,000 shares, Derrimon Trading rose 40 cents to $9.15, with 3,166 shares, Elite Diagnostic settled with a loss of 5 cents at $3.10 and the trading of 154,745 units, Eppley ended trading $2.04 higher at $10.18, with 169,807 shares. Express Catering traded 39,809 shares and gained 21 cents to end at $6.03, FosRich Group finished trading at $2.49 after rising 4 cents, with 61,700 shares, General Accident closed at $3.40, with 25,000 stock units, GWest Corporation ended at $2.10, with 36,500 units. Honey Bun concluded trading with a loss of 5 cents at $4.65, exchanging 7,702 shares, Jamaican Teas rose 34 cents to $4.34, with 5,962 stock units, Jetcon Corporation traded with a loss of 15 cents at $4.10, with 27,857 units, KLE Group closed 5 cents higher at $2.85, with 1,416,905 shares. Knutsford Express ended at $12, with 4,891 shares trading, Lasco Distributors climbed 25 cents to $4.20, with 14,400 stock units, Lasco Financial finished with a loss of 4 cents at $5.36, after trading 15,000 units, Lasco Manufacturing settled at $4, with 2,000 shares. Main Event ended trading at $7, with 64,966 stock units, Medical Disposables traded at $4.60, with 3,761 shares, Stationery and Office ended trading $8.95 with 51,000 shares, changing hands and tTech gained 50 cents to close at $6.50, with 19,717 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.

 

6 stocks 1 fell on TTSE – Tuesday

Trinidad & Tobago Stock Exchange Head Quarters

The Trinidad & Tobago Stock Exchange ended trading on Tuesday with slightly more securities trading than on Monday and with much more prices rising than falling leading to a rise in market indices.
Trading ended with 14 securities changing hands against 15 on Monday leading to 6 advancing, 1 declining and 7 remaining unchanged.
Market activity resulted in 533,003 shares at a value of $22,897,749 trading, compared to 276,320 shares valued at $4,320,119 changing hands, on Monday.
At close of the market the, Composite Index the Composite Index rose 0.62 points on Tuesday to 1,244.60, the All T&T Index gained 1.36 points to 1,727.96, while the Cross Listed Index eased by 0.02 points to close at 102.37.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows the market continuing to be weak as it closed with 3 stocks ending with higher bids than the last selling prices and 5 with lower offers.
Gains| Clico Investments gained 4 cents and completed trading at $20.15, with 11,102 units, First Citizens finished trading with a gain of 1 cent and concluded market activity at $35, after exchanging 17,912 shares, Grace Kennedy closed with an increase of 3 cents and completed trading at $3.08, with 1,760 units, Republic Financial Holdings jumped 92 cents to end at $102.63, with 200,798 stock units changing hands, Sagicor Financial ended 5 cents higher and completed trading at $7.95, with 4,000 units and Trinidad Cement concluded trading and rose10 cents to end at $3, with10,983 shares changing hands.
Losses| First Caribbean International Bank was the sole stock declining and closed with a loss of 1 cent at $8.88, after exchanging 50,560 shares.
Firm Traded| Angostura Holdings ended at $15.75, with 5,859 stock units changing hands, Ansa Merchant settled at $40, after exchanging a mere 28 shares, JMMB Group ended at $1.75, with 155,096 stock units changing hands, NCB Financial Group concluded the day’s activity at $5.50, after exchanging 68,752 shares, Scotiabank settled at $64.25, after exchanging 134 shares, Trinidad & Tobago NGL completed trading at $29, with 5,569 units and Unilever Caribbean endded trading at $32, with an exchange of 450 shares.
Prices of securities trading for the day are those at which the last trade took place.

JSE main market volume jumps – Monday

Add your HTML code here...

Volume traded on the Jamaica Stock Exchange on Monday ending with 6,884,784 units valued at $95,400,967 versus 1,921,527 units valued at $46,900,896 changing hands on the main market on Friday.
The volume was built from Supreme Ventures trading 5,511,490 units and accounted for 80.05 percent of total shares traded, followed by 1834 Investments with 230,248 units and Sagicor Group with 182,753 units.
At the end of market activities, 31 securities traded, compared to 23 on Friday, in the main and US dollar markets as 9 stocks rose, 11 declined and 11 traded firm. At the close, the All Jamaican Composite Index fell 709.93 points to 326,810.90 and the JSE Index declined 646.83 points to 297,761.66.
Stocks with major price changes are, Kingston Wharves that dropped $1.90 to $46.80, PanJam Investment diving $2.75 to $44.25 and Scotia Group with a loss $1.10 to $48.
Trading resulted in an average of 237,406 units valued at an average of $3,289,689 for each security traded, in contrast to 87,342 units for an average of $2,131,859 on Friday. The average for the month to date is 276,670 shares with a value of $12,250,176, previously 279,765 shares with a value of $13,009,983. In contrast, April closed with an average of 708,206 shares with a value of $6,395,518 for each security traded.
In the US dollar market, Productive Business Solution gained 3 cents in closing at 62 US cents with 1,693 shares trading and Proven Investments traded 32,680 shares at 22 US cents. The JSE USD Equities Index declined 1.06 points to close at 173.22.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 4 stocks ended with bids higher than their last selling prices and 1 closing with a lower offer.
For more details of market activities see – JSE main market down again – Monday.

Junior Market rallies – Monday

Dolphin Cove jumped $2.50 on small volume.

The Junior Market Index recovered 28.20 of 57.86 points lost on Friday, to close at 2,922.15 on Monday with 25 securities trading, up from 21 on Friday.
The market closed with an exchange of 4,133,311 units valued at $30,002,574 compared to 8,143,897 units valued at $45,872,386 on Friday. At the close of market activities, the prices of 7 securities advanced, 8 declined and 10 remained unchanged.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 4 stocks ending with bids higher than their last selling prices and 3 with lower offers.
Market activity ended with an average of 165,332 units for an average of $1,200,103 in contrast to 387,805 units for an average of $2,184,399 on Friday. The average volume and value for the month to date amounts to 145,970 units with an average value of $721,120 and previously 200,883 units with an average value of $683,346. April closed with an average of 121,622 units at $506,803, for each security traded.
At the close of the market, AMG Packaging ended at $2, with 29,641 stock units, Caribbean Cream ended trading 10 cents higher at $4.90, with 5,000 shares, Caribbean Flavours traded with a loss of 1 cent at $11, exchanging 6,000 stock units, Caribbean Producers finished trading at $5.25, with 30,064 units, Derrimon Trading concluded trading at $8.75, with 3,000,000 shares. Dolphin Cove finished $2.50 higher at $17.50, but only 100 stock units changed hands, Elite Diagnostic settled at $3.15, with 32,894 units, Express Catering traded with a loss of 23 cents at $5.82, with 1,000 shares, FosRich Group gained 11 cents to end at $2.45, with 464,331 shares. General Accident closed with a loss of 1 cent at $3.40 after 18,463 stock units changed hands, GWest Corporation ended at $2.10, with 79,500 units, Honey Bun concluded trading at $4.70, with 1,300 shares, Jamaican Teas fell 55 cents to $4, trading 46,118 stock units. Jetcon Corporation traded 15 cents higher at $4.25, with 81,420 units, Key Insurance finished trading with a loss of 35 cents at $3.25, in the exchange of 58,397 shares, KLE Group closed at $2.80, with 155,000 shares, Knutsford Express traded 1,000 shares at $12. Lasco Distributors concluded trading with a loss of 7 cents at $3.95, exchanging 14,080 stock units, Lasco Financial dropped 59 cents to $5.40, with 6,838 units, Lasco Manufacturing settled 10 cents higher at $4, exchanging 13,200 shares, Main Event ended trading at $7, with 5,500 shares. Medical Disposables traded 10 cents higher at $4.60, with 12,674 shares, Paramount Trading ended 35 cents higher at $3.10, with 14,054 stock units, Stationery and Office closed with a loss of 5 cents at $8.95, with 48,678 units and tTech concluded trading at $6, with 8,059 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.

 

Falling stocks dominate TTSE – Monday

Scotiabank closed at a new high of $64.2.

The Trinidad & Tobago Stock Exchange ended trading on Monday with slightly more securities trading than on Friday but with prices falling than rising but all market indices rose.
Trading ended with 15 securities changing hands against 12 on Friday leading to 3 advancing, 7 declining and 5 remaining unchanged.
The stocks that gained were mostly in the Market activity resulted in 276,320 shares at a value of $4,320,119 compared to 220,145 shares at a value of $3,003,375 changing hands, on Friday.
At close of the market the, Composite Index the Composite Index rose 6.34 points on Monday to 1,243.98, the All T&T Index added 1.28 points to 1,726.60, while the Cross Listed Index gained 1.58 points to close at 102.39.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows the market continuing to be weak as it closed with 4 stocks ending with higher bids than the last selling prices and 4 with lower offers.
Gains| Guardian Holdings finished trading with a rise of 70 cents to end at $17.20, after exchanging 6,500 shares, JMMB Group gained 2 cents and concluded trading at $1.75, with 6,404 stock units changing hands and Scotiabank ended trading with an increase of 24 cents to a 52 weeks’ high of $64.25, after exchanging 116 shares.
Losses| Clico Investments shares fell 9 cents and ended at $20.11, with 4,160 units traded, First Citizens share fell 1 cent and settled at $34.99, after exchanging 640 shares, Massy Holdings shed 23 cents and concluded the day’s activity at $47.27, with 1,300 stock units changing hands, Republic Financial Holdings lost 95 cents and ended at $101.71, with 22,241 stock units changing hands, Trinidad & Tobago NGL ended trading 5 cents lower at $29, with 1,850 units, Trinidad Cement concluded trading with a loss of 9 cents to end at $2.90, after exchanging 24,323 shares and Unilever Caribbean traded with a loss of 50 cents and settled at $32, after exchanging 4,644 shares .
Firm Traded| First Caribbean International Bank completed trading at $8.89, after exchanging 20,000 shares, National Flour closed at $1.75, after exchanging 900 shares, NCB Financial Group settled at $5.50, after exchanging 67,050 shares, Sagicor Financial ended at $7.90, with 116,137 units and West Indian Tobacco concluded trading at $88.50, with 55 stock units changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Medical Disposables & CPJ back in TOP 10

Medical Disposables in TOP 10

Lasco Financial rose to $5.99 by the end of the week, while IC Insider.com downgraded earnings for Caribbean Flavours to $1.22 for the 2019 fiscal year, with both moving out of the Junior Market TOP 10.
Medical Disposables that suffered a fall in price to $4.50 and Caribbean Producers moved into the TOP stocks listing for the Junior Market. There were no new addition to the TOP 10 main market stocks at the close of the past week. There were some changes in the rankings, most noticeable was Radio Jamaica, with a rise in price to $1.35 from $1.25 at the close of the previous week, as the stock moved closer to exit the top list. Salada Foods rose in sympathy to good half year results, to close at $13.10 from $11.26 at the start of the week, but it pulled back after trading at an all-time high of $15. Caribbean Cement moved down to $37.50 from $40.05 and Barita Investments rose to $12.53 from $11.50 while Berger Paints saw increased selling in light of the company’s posting increased sales but lower profits in the March quarter due to a number of factors, some of which are not likely to be repeated, in the other quarters of the year.
The past week was characterized by some sharp price fluctuations and index movements in both markets, with the ending to the release of most first quarter results. Interest rates fell to their lowest levels on Treasury bills and the central bank cut the overnight rate by 25 basis points during the past week, seem to have little effect on the market so far. That will change as the weeks roll on, it may be that investors are now taking a break for May, this coming week could have the answer.
Former TOP 10 Junior Market stock Stationery and Office Supplies, closed at a new record high of $9 last week after positing good first quarter results with earnings per share up 70 percent to 17 cents and looking as if $1 is possible for the full year, with the commencement of the production of plain paper books.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 6.2 compared to an average PE for the overall main market of 10, based on 2018 estimated earnings. The main market PE is 7.3 for the top stocks, compared to a market average of 13.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 38 percent to the average for the Junior Market Top stocks but it’s a third of what the average PE for the year is likely to be of 20 times earnings and main market stocks traded at a discount of 45 percent to the market.
Stocks to Watch this week include, Barita, Grace Kennedy, PanJam Investment, Radio Jamaica, Salada, Jamaica Stock Exchange ordinary share, Stationery and Office Supplies. Although not yet listed, investors should keep an eye open for Sygnus Credit that saw its IPO more than twice oversubscribed.

Angostura Holdings Q1 profit jumps 76%

Angostura Holdings aged rum.

Profit at Trinidad’s Angostura Holdings surged 77 percent in the March quarter, to TT$41 million before tax and up 76 percent to TT$28.4 million after tax resulting in earnings per share of 14 cents.
Sale revenues climbed 15.5 percent to TT$129.5 million but a 10 per cent fall in direct operating cost took cost down by to $37.7 million and boosted gross profit margin to 71 percent form 63 percent in 2017 and gross profit by 31 percent to $92 million.
Profit declined sharply from 2015 when the company posted $164 million after tax compared to TT$153 million in 2014 and then TT$122 million in 2016 and $111 million last year.
Marketing and sales expenses rose 11 percent to TT$37 million while administrative expenses rose just 2 percent to TT$14.6 million from TT$14.3 million in 2017. Finance cost was negligible.
Cash flow resulted in an increase of TT$61 million in cash pushing cash to TT$214 million as of March and investments of $218 million. At the end of March, shareholders’ equity stands at TT$1.01 billion with borrowings at just TT$20 million. Current assets ended the period TT$795 million well ahead of current liabilities of TT$96 million.
The stock traded at TT$15.75 on the Trinidad and Tobago Stock Exchange. Based on 2017 earnings the stock was selling at a PE ratio of 29 times. If the trend in earnings for the first quarter is held for all of 2018 the PE would fall 17 times earnings. Net asset value is TT$4.9 with the stock selling at 3.20 book value.
This one needs watching to see if the improvement deepens. It is worth noting that the company is amassing cash and could well be after a takeover target.
Angostura is one of the Caribbean’s major rum producers and producers of Angostura Bitters.

Profit rise at T&TNGL

T&T NGL closed at $29 on TTSE on Friday.


Trinidad and Tobago NGL reported higher income from share of joint venture profit in the March 2018 quarter.
The company’s share rose to TT$61.4 million from $57 million in 2017 and $217 million for the twelve months to December 2017.
The company owns 39 percent of shareholding in Phoenix Park Gas Processors and ended with profit of TT$61.8 million after tax in the March 2018 quarter up from $57 million in 2017. Profit for the 2017 fiscal year was $234 million after tax.
Earnings per share amounted to 40 cents and $1.51 for the 2017 fiscal year. Shareholders’ equity $3.26 billion with net book value per share of $21. The stock trades at $29 on the Trinidad Stock Exchange.

Profit grows at First Citizens

First Citizens Bank traded at $35 on Friday.

The Trinidad economy may still be under stress with some companies reporting lower profits but not First Citizens Bank.
Profit before taxation rose 17 percent in the March quarter, to TT$264 million from $225 million in 2017. For the nine months to March, profit also climbed 17 percent to $553 million from $473 million in 2017. After an increase in the tax rate profit after tax is up just 5.6 percent to $367 million for the six months to March and was flat at $164 million for the quarter with $163 million generated in the 2107 quarter.
Net interest income rose 13.75 percent for the quarter, to $397 million from $389 million and rose 13 percent for the half year to $781 million, other income was almost flat at $140 million compared to $141 million in 2017 for the quarter, but rose 7 percent for the year to date, to $341 million from $320 million in 2017 as interest income rose faster than expenses.
Administrative and Other expenses were kept under raps and rose just 3 percent in the quarter and six months period to $272 million and $531 million respectively.
Earnings per share came out at 65 cents for the quarter and $1.45 for the six months and should end the fiscal year around $3. The stock last traded at $35 on the Trinidad and Tobago Stock Exchange with a PE ratio of 12 times 2018 earnings.
At the end of March, shareholders’ equity stood at $6.76 billion with loans advanced to customers moving up nearly 14 percent from $13.9 billion to $15.8 billion.
The company declared a dividend of 44 cents, bringing the payment for the half year to 80 cents versus 69 cents to 2017. Net asset value is TT$26.89 with the stock selling at just 1.3 times book value.