Junior Market up again on Wednesday

November 21, 2018 by

Trading on the Junior Market of the Jamaica Stock Exchange ended on Wednesday with 25 securities changing hands, resulting in an exchange of 611,280 units valued at $3,301,546 compared to 864,036 units valued at $3,263,089 on Tuesday from 20 securities.
At the close of market activities, the prices of 7 securities advanced, 13 declined and 5 remained unchanged as the Junior Market Index advanced by 24.50 points to close at 3,252.43.
Trading ended with an average of 24,451 units for an average of $132,062 in contrast to 43,202 units for an average of $163,154 on Tuesday. The average volume and value for the month to date amounts to 99,170 units valued at $449,048 and previously 119,515 units valued at $473,813. October, ended with an average of 69,421 units valued at $347,455 for each security traded.
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 6 with lower offers.
At the close of the market, Access Financial closed $2 higher at $52, with 20,293 shares trading, Blue Power concluded trading of 1,200 units and rose 65 cents to $5.45, CAC 2000 finished with a loss of 1 cent at $16, trading 2,062 shares, Caribbean Cream ended trading 92 cents higher at $6, with 4,065 shares, Caribbean Flavours traded with a loss of 50 cents at $19.50, in exchanging 1,100 stock units. Caribbean Producers finished trading of 24,271 units and lost 4 cents at $5.51, Consolidated Bakeries closed 30 cents higher at $2.30, trading 4,331 shares, Derrimon Trading ended with a loss of 15 cents at $2.55, with 50,230 shares changing hands, Dolphin Cove concluded trading of 2,270 shares with a loss of 30 cents to close at $16. Elite Diagnostic finished 18 cents higher at $3.18, in exchanging 15,500 stock units, Everything Fresh fell 1 cent in trading a mere 2,500 shares to close at $1.77, Express Catering ended trading 2,500 shares at $7.50, FosRich Group traded 46,985 shares, with a loss of 1 cent at $3.84, Honey Bun ended at $4.11, trading 44,400 units. Indies Pharma traded 179,065 shares and fell 7 cents in closing at $2.93, Jamaican Teas settled 8 cents higher at $4.38, while trading 1,000 shares, Jetcon Corporation ended trading 500 stock units at $3.80, KLE Group finished trading of 16,639 shares at $4, Knutsford Express closed with a loss of 20 cents at $11.80, with 3,417 shares changing hands. Lasco Distributors ended trading 124,909 shares at $4, Lasco Financial concluded trading with a loss of 21 cents at $4.99, with 49,301 stock units changing hands, Lasco Manufacturing finished with a loss of 1 cent at $3.54, with 6,000 units, SSL Venture Capital traded 5.300 shares and lost 5 cents to end at $1.76 and tTech ended with a loss of 25 cents at $6.25, in exchanging 1,340 shares. In the junior market preference segment, Eppley 9.5% finished 1 cent higher at $6.01, with 2,102 shares changing hands.

Prices of securities trading for the day are those at which the last trade took place.

 

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Junior stock list on TTSE -Wednesday

November 21, 2018 by

Trinidad & Tobago Stock Exchange Head Quarters

Cinema operators, CinemaOne Limited is the latest listing on the Trinidad & Tobago Stock Exchange. The company was listed today and is the first company to list on the SME section of the exchange. 
There was no trading in the company’s shares that listed at $10 and there were no bids nor offers to trade the stock at the close
The market closed after 16 securities changed hands, compared to 17 on Tuesday, 5 advanced, 2 declined and 9 remained unchanged as 858,620 units valued at $14,226,508 traded, down from 379,165 units valued at $4,512,298 changing hands on Tuesday.
 The  Composite Index inched higher by 0.69 points on Wednesday to 1,240.81. The  All T&T Index  gained 0.93 points to 1,700.83, while the  Cross Listed Index rose 0.06 points to close at 105.09.
IC bid-offer Indicator| At the end of trading, the  Investor’s Choice bid-offer indicator reading closed with 3 stocks ending with higher bids than the last selling prices and just 5 with lower offers.
Stocks closing with gains| Angostura Holdings concluded trading with a rise of 30 cents to close at $16, with 31,336 stock units changing hands, First Citizens added 10 cents and settled at $32.75, after exchanging 2,207 shares, Grace Kennedy gained 1 cent and ended at $3, with 199,312 stock units changing hands, Prestige Holdings rose 2 cents and completed trading at $7.35, with 200 units and Republic Financial Holdings closed with a gain of 22 cents and ended at $107.27, after exchanging 17,843 shares.
Stocks closing with losses| First Caribbean International Bank fell 5 cents and completed trading of 200,291 units at $8, and Sagicor Financial traded with a loss of 20 cents and ended at $7.05, with 21,458 stock units changing hands.
Stocks trading with no price change| Calypso Macro Index Fund traded 1,263 shares to close at $15.85, Clico Investments ended at $20, with 292,254 stock units with a value of $5,865,098 changing hands, JMMB Group closed at $1.75, after exchanging 5,500 shares, Massy Holdings concluded trading at $46.80, exchanging 200 shares, National Flour completed trading of 10,000 units at $1.68, NCB Financial Group settled at $6.55, after exchanging 1,632 shares, Scotiabank completed trading at $64.50, with 12,810 units, Trinidad & Tobago NGL settled at $29.30, after exchanging 49,963 shares and West Indian Tobacco completed trading at $95, with 12,351 units.

Prices of securities trading for the day are those at which the last trade took place.

 

Filed Under: Stock Market, TTSE Market Tagged With: , , , , , , , , , , , , , , , , , , ,

Trinidad gets first junior listing

November 21, 2018 by

Cinemaone Limited is the latest listing on the Trinidad and Tobago Stock Exchange. The company was listed today and is the first company to list on the SME section of the exchange.
There was no trading in the company’s shares and none were offered for sale and there were no bids to buy the stock at the close. a total of 6.4 million shares are issued and the opening price was placed at $10.
Trinidad and Tobago Stock Exchange established a market for Small and Medium Enterprises, the SME Market after the government of Trinidad and Tobago announced in 2012 special tax concession for companies listing on this exchange.
The company operates cinemas in Trinidad and Tobago and had revenues of TT$15.2 million for the year ending September 2018 and $12.7 million in the previous year, with profits after tax of $867,000 in 2017 versus $1.5 million in 2016 after making $1.5 million before tax in 2017 versus $1.1 million in 2017.

Filed Under: Company News, Company Results, Stock Market, TTSE Market Tagged With: , , , ,

JSE stocks making strong recovery

November 20, 2018 by

The Jamaica Stock Exchange main market indices were pushed sharply higher on Tuesday, sending the All Jamaica Index surging 5,742.86 points to 397,756.57 and JSE Index jumped 5,232.40 points to close at 362,401.24, thanks partially to jump in the price of NCB Financial.
Market activity closed with 32 active securities in the main and US dollar markets, compared to 30 on Thursday with the prices of 13 stocks rose, 9 declined and 10 remained unchanged.
Main market trading closed with JMMB Group leading with 5,977,409 units, or 49 percent of the day’s volume and NCB Financial with just under 4.29 million units and 35 percent of volume traded.
IC bid-offer Indicator|At the end of trading, the Choice bid-offer indicator reading shows 3 stocks ending with the bid higher than the last selling prices and 7 closing with lower offers.
The market closed with much more trading volume and value than on Monday as 12,215,304 units valued at over $798,389,015 changed hands, compared with 8,566,949 units valued at $433,399,089 being exchanged, on Monday.
Trading resulted in an average of 436,261 units valued at over $28,513,893, in contrast to 295,412 shares valued at $14,944,796 on Monday. The average volume and value for the month to date, amounts to 268,764 valued at $6,039,932, compared to 256,707 valued at $4,301,615. October closed, with an average of 290,851 shares, valued $5,213,901, for each security traded.
In the main market activity, Barita Investments gained 74 cents and closed at $19.75, trading 2,000 shares, Carreras concluded trading of 10,257 units and lost 32 cents at $9.50, Caribbean Cement jumped $7.75 to close at $50 in trading of 7,325 shares, PanJam Investment rose $2.30 in closing at $64, with an exchange of 62,978 stock units, Sagicor Group advanced by $2 to $39 with an exchange of 3,563 shares, Sagicor Real Estate Fund gained 30 cents and settled at $11.75, trading 3,880 shares, Scotia Group gained $2.99 trading 31,977 to close at $55.99, Seprod shed 50 cents to end trading of 156,060 shares at $29.50 and Sterling Investments  fell 50 cents and closed at $20, with 3,094 shares.
Trading in the US dollar market amounted to 43,400 units valued at over $18,506 as JMMB Group 6.00% traded 12,100 units losing 1 cent to close at $1.04, Productive Business Solution traded 1,000 shares at 59 US cents, Proven Investments closed the trading of 25,000 shares at 19 U$ cents and Sygnus Credit Investments USD share ended with 5,300 units changing hands and rose 1 cent to 9 US cents..
The JSE USD Equities Index inched 0.02 points down to close at 157.77.

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Junior Market pushes higher on Tuesday

November 20, 2018 by

The Junior Market rose at the end of trading on Tuesday with Index to gaining 21.85 points to close at 3,227.93 on a day of moderate trades as 20 securities changed hands versus 21 on Monday.
At the close 10 securities rose, just 4 declined with 6 remaining unchanged. In moderate trading, just 864,036 units, valued $3,263,089 changed hands, well below the 5,717,296 units valued $15,894,662 that traded on Monday.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator closed with 3 stocks ending with bids higher than their last selling prices, while 5 closed with lower offers, an indication of a bias towards declining stocks dominating on Wednesday.
Trading ended with an average of 43,202 units for an average of $163,154 in contrast to 272,252 units for an average of $756,889 on Monday. The average volume and value for the month to date amounts to 119,515 units valued at $473,813 and previously 109,127 units valued at $494,523. October, ended with an average of 69,421 units valued at $347,455 for each security traded.
At the close of trading, Access Financial closed 50 cents higher at $50, with 500 shares changing hands, AMG Packaging ended with a loss of 5 cents at $1.75, with an exchange of 42,863 stock units, Blue Power concluded trading of 34,430 units at $4.80, Caribbean Cream ended trading 6 cents higher at $5.08, with 7,000 shares changing hands, Caribbean Producers finished trading 13,500 units with a loss of 10 cents to $5.55. Derrimon Trading ended with a loss of 30 cents at $2.70, exchanging 9,000 shares, Elite Diagnostic closed at $3, with 103,120 stock units changing hands, Eppley climbed $1.05 to $9.05, exchanging 750 units, Everything Fresh fell 2 cents in trading a mere 100 shares to close at $1.78, Express Catering ended trading of 24,913 shares at $7.50. FosRich Group traded 223,700 shares and rose 35 cents to $3.85, Honey Bun ended 31 cents higher at $4.11, with 17,973 units changing hands, Indies Pharma ended trading of 6,410 shares to close at $3, Jetcon Corporation ended trading 7,851 stock units at $3.80, KLE Group finished trading 500 shares 59 cents higher at $4. Knutsford Express closed at $12, with 1,000 shares changing hands, Lasco Distributors ended 5 cents higher at $4, $2, in exchanging 48,328 shares, Lasco Financial concluded trading 20 cents higher at $5.20, swapping 600 stock units, Lasco Manufacturing finished 15 cents higher at $3.55, with $2, with an exchange of 296,410 units and Medical Disposables ended trading with a loss of $1.50 to close at $6, with 25,088 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , ,

Falling stocks dominate gainers on TTSE -Tuesday

November 20, 2018 by

Market activities ended on the Trinidad & Tobago Stock Exchange after 17 securities changed hands, compared to 14 on Monday, 3 advanced, 6 declined and 8 remained unchanged.
The market closed with one stock trading at 52 weeks’ intra-day high, two traded at a 52 weeks’ low but only one closed at the low, as 379,165 units valued at $4,512,298 traded, down from 266,549 units valued at $1,701,603 changing hands on Monday.
The Composite Index declined 0,39 points on Tuesday to 1,240.12. The All T&T Index lost 1.13 points to 1,699.90, while the Cross Listed Index rose 0.05 points to close at 105.03.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading closed with 3 stocks ending with higher bids than the last selling prices and just 1 with a lower offer.
Stocks closing with gains| First Caribbean International Bank concluded trading of 68,190 units and rose 5 cents to end at $8.05, Prestige Holdings added 2 cents and concluded trading of 100 units at $7.33 and Trinidad Cement increased 4 cents and completed trading at $2.74, after exchanging 10,000 shares.
Stocks closing with losses| Angostura Holdings closed with a loss of 5 cents and settled at $15.70, with 700 stock units changing hands, First Citizens shed 10 cents and ended at $32.65, after exchanging 3,503 shares, Guardian Holdings lost 10 cents and concluded trading of 101,145 units, at $18, One Caribbean Media ended trading 99 cents lower at a 52 weeks’ low of $11, after exchanging 1,000 shares, Republic Financial Holdings concluded trading with a loss of 1 cent and completed trading of 271 shares at $107.05 and Trinidad & Tobago NGL traded with a loss of 10 cents and ended at $29.30, after exchanging 24,000 shares.
Stocks trading with no price change| Clico Investments settled at $20, with 4,572 stock units changing hands, Grace Kennedy settled at $2.99, trading 2,500 stock units, JMMB Group completed trading at $1.75, after exchanging 46,000 shares, Massy Holdings completed trading at $46.80, while exchanging 45 shares, National Enterprises settled at $8, with 75,000 stock units changing hands, NCB Financial Group ended at $6.55, in exchanging 10,750 shares, Sagicor Financial settled at $7.25, with 20,902 stock units changing hands but traded at a 52 weeks’ low ahead of the close and Unilever Caribbean settled at $23, with 9,730 stock units trading.
Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Stock Market, TTSE Market Tagged With: , , , , , , , , , , , , , , , , , , ,

Main market stocks jump – Tuesday

November 20, 2018 by

Investors pushed the Jamaica Stock Exchange main market ending sharply higher on Tuesday, and sending the All Jamaica Index surging 5,742.86 points to 397,756.57 and JSE Index jumped 5,232.40 points to close at 362,401.24.
Market activity closed with 28 active securities in the main and US dollar markets, compared to 29 on Monday.
Main market trading closed with JMMB Group leading with 5,977,409 units, to close at $31.75 and NCB Financial with just under 4,29 million units s the price ended at $135.99.
The Junior Market rose in trading on Tuesday with Index to climbing 28.23 points to close at 3,234.31 on a day of moderate trades as 21 securities traded with Lasco Manufacturing trading the most with 296,410 shares changing hands.

Filed Under: JSE Combined, Stock Market Tagged With: , , , , , ,

MPC Caribbean Clean Energy next IPO

November 20, 2018 by

MPC Caribbean Clean Energy ltd is a Caribbean-based investment company set to be the next Initial Public offer in Jamaica and Trinidad simultaneously in early December.
The company is being sponsored by German based MPC Capital that is publicly listed since 2000 with a market capitalization of €158 million.
Trinidad regulators have already signed off on the prospectus while the draft prospectus is now going through the FSC in Jamaica, Martin Vogt, managing director of MPC capital advised IC insider.com.
The company was established in 2017 with the clear vision to invest in renewable energy projects in Jamaica, Trinidad and Tobago and the wider Caribbean region through the MPC Caribbean Clean Energy Fund LLC. The listed company will be just an investing vehicle, with capital raised to be invested through MPC Caribbean Clean Energy Fund LLC, the entity investing directly in the projects.
The company will seek to raise at least US$50 million in the Jamaican and Trinidad markets with the IPO expected to debut around the first week in December. Brokers for the issue are JN Fund Managers.
The Company is registered in Barbados and was established by the clean energy investment specialist MPC Renewable Energies (MPC), a 100% subsidiary of the publicly listed German asset and investment manager MPC Capital, based on its extensive renewable energy experience worldwide and after research and analysis of the Caribbean market.

JPS has signed an agreement to purchase power from the company at 8.5 US cents per KWH.

The initial investment in Jamaica is “Paradise Park”, a 50 MW solar park in Westmoreland with a capital outlay of US$64 million. Once completed by May 2019, the solar park will be the largest photovoltaic power plant in the island. Vogt told IC Insider.com that they have a 20 years power supply contract with JPS. The company also has a 21 MW wind power plant in Costa Rica that has been in operations since 2015 and is profitable. Importantly, the Jamaican operation which is now being built out will have a rated capacity of 50 MWH.
The plan is to raise around US$200 million for investment in the region’s renewables. According Vogt, the Jamaican government is expected to open the market in 2019 for bids for 150 MW renewable supply and the company is planning to bid for another 50 MW to add to the Paradise Park operation. If the bid is successful the expansion will result in some amount of economy of scale in the operation.
The is likely to invest in the Wigton Wind Farm when that company goes public in the first quarter of 2019.
The rate of return for the company is expected to be north of 9 percent per annum which will make it attractive for investors looking for income but payment of dividend may not be more than once per year initially.
The stock issue is likely to be a relatively high income generator, rather than one for rapid stock price gains. shares will be sold in Jamaica in local dollars but in Trinidad they will be in US dollars.
News reaching IC Insider.com is that Fantana Pharmacy should be heading to the market soon, to raise around $500 million to help fund the new location on Waterloo Road in Kingston. A few others are said to be planned for next year with IC insider.com gathering that at least two are in the manufacturing sector and one in the financial sector.

Filed Under: Initial Public Offers Tagged With: , , , , ,

General Accident nearly doubles profit

November 20, 2018 by

General Accident stock is undervalued.

Profit at General Accident Insurance rose 88 percent to $144 million, in the nine months September from $77 million in the similar period in 2017 even as profit for the quarter to September 2018 slipped 29 percent from $68 million to $49 million.
Earnings per share amounted to just 5 cents in the September quarter and 14 for the year to September and IC Insider.com estimates 40 cents for the full year and possible 80 cents for 2019. The stock last traded at $4, just less than twice net book value of $2.05. Annualized return on average equity of 9.45 percent up from 5.2 percent in 2017.
Gross premium for the year to September, grew 20 percent to $7.4 billion, while growth for the quarter was up an extremely strong 69 percent to $2.75 billion over the same periods last year. The company that is also looking to branch out to other parts of the region, also earned 51 percent more commission that the year before with nine months’ earnings rising to $495 million and it grew 104 percent for the quarter to $159 million but commissions paid grew 32 percent for the nine months to $212 million and by 44 percent for the quarter to $96 million. Net earned premiums grew 24 percent, for both the nine months to $1.20 billion for year to date and $531 for the quarter. Investment income including of foreign exchange gains is up 158 percent for the quarter to $144 million and 56 percent for the first nine months to $228 million.
Net claims grew by just 10 percent to $866 million for the nine months but jumped 42 percent for the quarter to $353 million. “Administrative expenses increased by 19 percent compared to the same period prior year, due to new hires to drive the strategic plan” management stated. Management expenses rose 35 percent to $554 million in the nine months and by 47 percent for the quarter to $201 million.
“General Accident ended the third quarter with a book value of $2.05 billion and generated annualized return on average equity for shareholders of 9.45 percent. Despite, low interest rates and increased competition in a very challenging operating environment. For the first nine months of the year, we were able to improve on our performance when compared to the similar period for 2017. The board and management team are committed to ensuring that General Accident’s financial performance continues to improve for the remainder of the year,” Paul Scott, Chairman and Sharon Donaldson, Managing Director said in their report to shareholders that accompanied the quarterly results.
The company ended the period with equity capital of $2 billion with $4 billion in insurance reserves. Assets total $6.7 billion and comprise liquid funds of $3 billion with amounts due from re-insurers and co-insurers of $1.5 billion representing a big jump from $875 million in 2017.

Filed Under: Company News, Company Results Tagged With: , , , ,

Main market stocks make gains – Monday

November 19, 2018 by

Grace new HQ close to the end of construction in downtown Kingston

Stocks remained volatile in trading on the Jamaica Stock Exchange on Monday, but the main market indices closed higher with the All Jamaica Index ending 3,162 points ahead of Friday’s close closing much lower than the 9,168.21 points it put on, 30 minutes after trading opened.
Market activity closed with 30 active securities in the main and US dollar markets, compared to 30 on Friday with the prices of 11 stocks rose, 14 declined and 5 remained unchanged.
The All Jamaica Composite Index jumped 3,162.03 points to 392,013.71 and the JSE Index advanced 2,880.96 points to close at 357,168.84.
Main market trading closed with Grace Kennedy leading with 7,016,055 units, or just less than 82 percent of the day’s volume, PanJam Investment with 305,749 units with and 3.6 percent of volume traded.
IC bid-offer Indicator|At the end of trading, the Choice bid-offer indicator reading shows just 7 stocks ending with the bid higher than the last selling prices and 2 closing with lower offers.
The market closed with much more trading volume and value than on Friday as 8,566,949 units valued at $433,399,089 changed hands, compared with 7,711,871 units valued at $172,980,680 being exchanged, on Friday.
Trading resulted in an average of 295,412 units valued at over $14,944,796, in contrast to 275,424 shares valued at $6,177,881 on Friday. The average volume and value for the month to date, amounts to 256,707 valued at $4,301,615, compared to 253,590 valued at $3,374,731. October closed, with an average of 290,851 shares, valued $5,213,901, for each security traded.
In the main market activity, Berger Paints rose 40 cents and ended at $19, trading 5,200 stock units, Carreras concluded trading of 32,622 units and rose of 50 cents at $9.50, Caribbean Cement dropped $7.75 to close at $42.25 in trading of 28,547 shares, Grace Kennedy rose $1 to end trading 7 million shares to close at $54, Jamaica Producers dipped $2.51 to end at $22, trading 4,130 shares, JMMB Group declined $1.20 to $31.80, with an exchange of 28,707 shares, PanJam Investment dropped $4 in closing at $61.70, with an exchange of 305,749 stock units, Sagicor Group gave up $1.50 and settled at $37 with an exchange of 130,395 shares, Sagicor Real Estate Fund lost 55 cents and settled at $11.45, trading 28,900 shares, Salada Foods rose $1 to close at $21.50 trading 6,300 shares, Scotia Group dropped $2.99 trading 31,977 to close at $53, Seprod gained $1 to end trading of 150,547 shares at $29.50,  traded 8,063 shares and rose Stanley Motta 70 cents to $5.25, Sterling Investments climbed 75 cents to $20.50, trading 1,100 shares and Supreme Ventures lost 99 cents and ended at $16, with an exchange of 44,431 shares.

Trading in the US dollar market amounted to 17,541 units valued at $3,348 as Proven Investments was the sole stock trading and ended at 19 U$ cents.
The JSE USD Equities Index inched 0.36 points higher to close at 157.79.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , ,