Kingston Wharves pushes JSE to new record.

April 20, 2018 by

Kingston Wharves jumped $5 to a record close at $50 on Friday.

Kingston Wharves jumped $5 and ended at a record high of $50 on modest volume and helped to push the market to new highs on Friday. On Tuesday, the price jumped $5, to the then new high of $45.
Scarcity seems the main factor behind the sharp rally in so short a time frame with 94 percent of the 1.347 billion shares held by the top 10 shareholders. Kingston Wharves close trading with the bid to buy 1,400 units at $50 and no stock being offered. This stock is ideal for a split with more than the relatively high price and limited supply.
Trading levels rose on the Main Market of the Jamaica Stock Exchange on Friday but remained moderate with an average of only 264,526 shares valued at $2,653,054 each trading.
At the close 26 securities changed hands, resulting in 6,877,671 units valued at $68,979,399 trading compared to 2,507,681 units valued at $38,468,870 on Thursday.
The main market closed with 9 securities rising, 9 declining and 8 trading firm, leading to the JSE All Jamaican Composite Index increasing by 1,200.80 points to end at a record close of 326,178.78 and the JSE Index rising 1,094.07 points to a new closing record of 297,185.74.
In market activity, Barita Investments closed at $9.50, with 100,889 shares, Berger Paints ended at $19, with 101,218 stock units, Carreras concluded trading at $10.90, with 214,871 units, Caribbean Cement finished at $36.50, with 28,334 shares, Ciboney Group rose 1 cents and settled at 13 cents, trading 3,042,400 shares. Grace Kennedy ended trading at $49, with 17,235 shares, Jamaica Broilers fell 40 cents to close at $20.05, trading 4,327 stock units, Jamaica Producers climbed 90 cents and finished trading at $16, with 1,958,288 units, Jamaica Stock Exchange fell 48 cents and closed at $6.50, with 30,000 shares. JMMB Group ended at $28.32, after gaining 32 cents with 181,452 shares trading, Kingston Wharves jumped $5 and finished at $50, with an exchange of 3,200 stock units, Mayberry Investments settled with a gain of 5 cents at $6.05, with 72,493 units, NCB Financial Group fell 25 cents and ended trading at $96, with 79,768 shares. 1834 Investments traded with a gain of 13 cents at $1.20, with 128,014 shares, PanJam Investment climbed 60 cents and closed at $43, with 55,875 stock units, Pulse Investments concluded trading at $1.80, with 59,400 shares, Radio Jamaica rose 5 cents finished at $1.10, with 251,100 shares. Sagicor Group settled dropped 65 cents and landed at $36.85, with 14,377 shares and Sagicor Real Estate Fund lost 99 cents to settled at $14.01, with 3,000 shares changing hands. Salada Foods fell 5 cents to $11.15, with 400 stock units, Scotia Group lost $1.84 to $50.16, with 187,520 units trading, Seprod finished trading with a loss of 99 cents at $33.01, after trading 942 shares. Sterling Investments closed at $13.89, with 1,000 shares, Supreme Ventures ended at $11.75, with 19,400 shares, Victoria Mutual Investments concluded trading at $4.25, with a loss of 13 cents in exchanging 38,035 stock units and Wisynco Group rose 49 cents and finished at $10.99, with 284,133 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 “New record close for JSE – Friday.”

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

Junior Market jumps 47 points – Friday

April 20, 2018 by

The Junior Market fell at the close of trading on Friday with 19 securities changing hands as the prices of 7 securities advanced, 5 declined and 7 remained unchanged as market Index jumped 46.58 points to 2,947.73.
Trading ended with an exchange of 2,462,706 units valued at $9,020,103 up sharply from 1,190,114 units valued at $4,531,582 on Thursday.
Market activity ended with an average of 129,616 units for an average of $474,742 compared to an average of 62,638 units for an average of $997,673 on Thursday. The average volume and value for the month to date, amounts to 266,611 units at $566,937 compared to 140,892 units at $573,523 on the prior trading day. March closed with an average of 149,999 units valued at $623,819, for each security traded.
 IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows just 3 stocks ending with bids higher than the last selling prices and 6 with lower offers.
At the close of the market, Caribbean Cream ended trading 80 cents higher at $4.80, with 30,000 shares changing hands, Caribbean Producers rose 35 cents to close at $5, with 14,955 units, Consolidated Bakeries closed with a loss of 5 cents at $1.95, trading 542 shares, Derrimon Trading concluded trading 10 cents higher at $9.50, with 40,270 shares, Elite Diagnostic settled with a loss of 5 cents at $3.15, exchanging 129,503 units. FosRich Group fell 14 cents to $2.41, with 13,924 shares, General Accident closed with a loss of 14 cents at $3.01, with 4,967 stock units trading, GWest Corporation ended at $2.50, with 9,050 units, Honey Bun concluded trading 15 cents higher at $4.60, with 86,460 shares. Iron Rock finished at $3, with 200,000 shares, ISP Finance settled 1 cent higher at $15.01, with 30,000 shares, Jetcon Corporation traded 25 cents higher at $4.50, with 131,031 units, KLE Group closed at $2.45, with 3,383 shares. Lasco Distributors concluded trading 13 cents higher at $4.15, with 147,874 stock units, Lasco Financial finished at $5.20, with 194,766 units, Lasco Manufacturing closed at $4, with 126,625 shares, Stationery and Office closed at $5.90, with 231,203 units and tTech concluded trading with a loss of 28 cents at $5.50, as 68,153 shares traded. In the junior market preference segment, newly listed Derrimon Trading 9% preference share closed at $2, with 1,000,000 stock units 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: , , , , , , , , , , , , , , , , , , , , , ,

Profit up at West Indian Tobacco

April 20, 2018 by

Profit before corporate taxes rose 6.8 percent to $105.8 million, for the three months ended March 2018, over the corresponding period in 2017 for Trinidad and Tobago’s West Indian Tobacco company.
Profit for the quarter, after tax ended at $72.5 million, an increase of 7.6 percent over 2017. The improvement flowed from slightly lower cost of sales, amounting to $46.4 million versus $46.5 million in 2017, pushing gross profit to $141.45 million over the $124.65 generated for the similar period in 2017. Distribution costs rose to $6.3 million from $5.14 million while Administrative expenses rose to $15.65 million from $14.9 million in 2017 but other operating expenses rose sharply to $14 million from $5.7 million in 2017.
Cash flow of $144 million was generated and after paying taxes of $42 million, net cash from operating activities amounted to $102 million.
The Board approved the payment of a first interim dividend of 82 cents per share to be paid on 21 May 2018, an increase over 76 cents paid in the similar period in 2017.
At the end of the quarter, Current assets amounted to $426 million and included Cash and cash equivalents of $333 million, while Current liabilities was $117 million and Shareholders’ equity was $450 million. In 2017 the company suffered a sharp fall in revenues and profit resulting from increased taxation and lower revenues. Profit for the year ending December 2017 amounted to $380 million down 26 percent from $515 million as revenues dived from $1.24 billion in 2016 to $1.09 billion in 2017.

The stock closed on the Trinidad & Tobago Stock Exchange at $88.55 on Friday.

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

2 gains 2 losses on TTSE – Friday

April 20, 2018 by

Market activity on the Trinidad & Tobago Stock Exchange ended on Friday with trading in 13 securities against 14 on Thursday, with 2 advancing, 2 declining and 9 remaining unchanged.
Trading ended with 305,552 shares at a value of $8,200,326 compared to 329,306 shares at a value of $2,890,817 on Thursday.
At close of the market the, Composite Index shed 0.98 points on Friday to 1,229.27, the All T&T Index rose 0.37 points to 1,693.50, while the Cross Listed Index fell 0.32 points to close at 102.98.
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 bids higher than the last selling prices and 5 with lower offers, an indication of the continuation of a weak market currently.
Gains| National Flour rose 9 cents and ended at $1.75, after exchanging 3,476 shares and West Indian Tobacco closed with a gain of 4 cents and settled at $88.55, with 49,215 stock units changing hands.
Losses| Grace Kennedy ended trading 4 cents lower to $3.10, with 45,861 units and NCB Financial Group concluded trading with a loss of 1 cent and at $5.49, after exchanging 22,700 shares.
Firm Traded| First Caribbean International Bank ended trading at $8.90, after exchanging 2,183 shares, First Citizens completed trading at $32.55, with 317 shares, JMMB Group settled at $1.90, with 625 stock units changing hands, Massy Holdings closed at $47.40, with 50,399 units changing hands, Republic Financial Holdings settled at $101.58, with 10 shares trading, Sagicor Financial closed at $7.80, with an exchange of 123,978 units, Scotiabank ended at $62.51 trading 1,434 shares, Trinidad & Tobago NGL concluded at $27.50, with 2,954 units and Trinidad Cement ended at $2.60, after exchanging 2,400 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: , , , , , , , , , , , , , , , , , ,

JSE trading in record territory

April 20, 2018 by

Kingston Wharves jumped to a record $50 in trading 2,600 shares on Friday morning on the main market of the Jamaica Stock Exchange and helped to push the All Jamaica Index to an all-time record.
At 11.22 am, the JSE All Jamaican Composite Index climbed 3,135.84 points to a to be in intraday record high territory of 328,106.42 and the JSE Index was up 2,850.36 points to 298,942.03 another record level. Jamaica Producers traded 1.85 million units and rose to $16.
The Junior Market was more subdued and traded with a rise of just 3.52 points rise to 2,904.67.

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

Big gains again for JSE stocks – Thursday

April 19, 2018 by

There was just modest volume trading on the Jamaica Stock Exchange main market on Thursday with the JSE All Jamaican Composite Index jumped 2,036.04 points to 324,977.98 and the JSE Index advanced by 1,855.07 points to 296,091.67.
At the close, 25 securities traded, compared to 24 on Wednesday and ended with the prices of 8 stocks rising, 4 falling and 13 trading firm, in the main and US dollar markets. Price changes were mostly moderate, with none exceeding 60 cents at the close of trading.
Main market activity ended with 2,487,721 units valued at $38,468,870 changing hands, compared to 4,971,238 units valued at $81,421,271 on Wednesday. At the close of trading Supreme Ventures closed with the largest volume of 532,107 units, amounting to 21 percent of the overall volume traded, followed by Wisynco Group with 477,649 shares or 19 percent of the volume traded.
Trading resulted in an average of 108,162 units valued at an average of $1,672,560 for each security traded. In contrast to 216,141 units for an average of $3,540,055 on Wednesday. The average for the month to date is 846,561 shares with a value of $4,577,870 and previously 897,409 shares with a value of $4,795,531. In contrast, March closed with an average of 626,526 units with an average value at $20,492,207 for each security traded.
The US dollar market closed on Thursday with 19,960 shares trading valued at US$11,700. JMMB Group 6% preference share ended concluded trading at US$1 with 9,260 stock units and Proven Investments finished trading after adding 3 US cents to end at 23 US cents after trading 10,700 shares. Trading ended with a rise of 9.8 points in the market index to 175.95.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 8 stocks ended with bids higher than their last selling prices and 5 with a lower offers.
For more details of market activities see – JSE volume jumps value falls – Thursday.

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

Junior Market falls on Thursday

April 19, 2018 by

The Junior Market fell at the close of trading on Thursday with 19 securities changing hands, versus 20 on Wednesday, with gains in 8, declines in 7, while 4 remained unchanged. The Junior Market Index declined by 15.38 points to close at 2,901.15.
Trading ended with an exchange of 1,190,114 units valued at $4,531,582 down sharply from 4,712,347 units valued at $19,953,457 on Wednesday.
Market activity ended with an average of 62,638 units for an average of $997,673 compared to an average of 235,617 units for an average of $997,673 on Wednesday. The average volume and value for the month to date, amounts to 140,892 units at $573,523 compared to 146,912 units at $599,293 on the prior trading day. March closed with an average of 149,999 units valued at $623,819, for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows just 6 stocks ending with bids higher than the last selling prices and 3 with lower offers.
At the close of the market, AMG Packaging gained 1 cent and closed at $2.07, with 65,019 stock units, Consolidated Bakeries closed with 2,000 shares after rising 5 cents to $2, Derrimon Trading concluded trading 25 cents higher at $9.40, with 2,337 shares, Elite Diagnostic added 2 cents to end at $3.20, with 374,941 units trading, Eppley ended trading with a loss of 9 cents at $9.41, as 1,698 shares changed hands. Express Catering traded with a loss of 3 cents at $5.30, with 52,423 shares, FosRich Group finished trading at $2.55, with 174,580 shares, GWest Corporation ended at $2.50, with 19,256 units, Honey Bun concluded trading 3 cents higher at $4.45, with 3,315 shares. Jamaican Teas ended trading with a loss of 3 cents at $5 and an exchange of 29,556 stock units, Jetcon Corporation traded 9 cents higher at $4.25, with 11,763 units, Knutsford Express ended at $14, with 18,116 shares, Lasco Distributors concluded trading with a loss of 13 cents at $4.02, with 295,257 stock units. Lasco Financial finished at $5.20, with 7,000 units, Lasco Manufacturing rose 1 cent to settle at $4, with 28,500 shares, Main Event ended trading 10 cents higher at $6.20, with 47,452 shares, Medical Disposables traded with a loss of 10 cents at $5, after exchanging 10,647 shares, Stationery and Office closed with a loss of 10 cents at $5.90, swapping 17,722 units and tTech fell 2 cents to $5.78, with 28,532 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: , , , , , , , , , , , , , , , , , , , , , , ,

JSE volume jumps value falls – Thursday

April 19, 2018 by

Trading volumes rose but the total sum traded declined on the Main Market of the Jamaica Stock Exchange on Thursday with 4,971,238 units valued at $81,421,271 changing hands compared to 3,313,428 units valued at $132,584,977 on Wednesday.
The main market closed with just 23 securities changing hands, of which 16 rose, 4 declined and 3 traded firm leading to the JSE All Jamaican Composite Index surged 2,036.04 points to 324,977.98 and the JSE Index jumped 1,855.07 points to 296,091.67.
In market activity, Barita Investments closed at $9.50, with 2,000 shares trading, Berger Paints fell 22 cents and ended at $19, with 78,805 stock units, Carreras concluded trading at $10.90, with 363,060 units, Caribbean Cement finished at $36.50, with 18,529 shares, Ciboney Group rose 1 cent to close at 12 cents, with 290,000 shares. Grace Kennedy gained 51 cents and ended trading at $49, with 17,135 shares, Jamaica Broilers traded 18,625 units and gained 25 cents to close at $20.45, Jamaica Producers finished trading at $15.10, with 36,245 units but lost 60 cents in the process, Jamaica Stock Exchange closed at $6.98, with 5,500 shares. JMMB Group ended at $28, with 204,808 shares, Kingston Wharves finished at $45, trading 27,949 stock units, Mayberry Investments settled at $6, with 78,629 units, NCB Financial Group rose by 26 cents and ended trading at $96.25, with 97,448 shares. PanJam Investment lost 60 cents and closed at $42, with 5,000 stock units, Radio Jamaica finished with a fall of 5 cents at $1.05, exchanging 50,000 shares. Sagicor Group settled at $37.50, with 28,720 shares and Sagicor Real Estate Fund climbed 50 cents to $15, with 10,344 shares. Scotia Group traded at $52, trading 9,220 units, Seprod finished trading at $34, with 3,735 shares, Supreme Ventures ended at $11.75, with a rise of 5 cents, trading 532,107 shares, Victoria Mutual Investments gained 13 cents and concluded trading at $4.38, with 124,747 stock units and Wisynco Group finished trading at $10.50, with 477,649 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 “Big gains for JSE stocks again – Thursday.”

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

Witco jumps $3.51 on TTSE – Thursday

April 19, 2018 by

West Indian Tobacco recovers $3.51 it lost on Wednesday.

West Indian Tobacco recovered the $3.51 drop on Wednesday to end at $88.51 and was the main reason for the rise in the Trinidad & Tobago Stock Exchange index on Thursday.
Market activity ended on Thursday with trading in 14 securities against 10 on Thursday, with 2 advancing, 4 declining and 8 remaining unchanged.
Trading ended with 329,306 shares at a value of $2,890,817 compared to 351,112 shares at a value of $12,063,114 on Wednesday.
At close of the market the, Composite Index shed 0.75 points on Wednesday to 1,230.25, the All T&T Index gained 5.61 points to end at 1,693.13, while the Cross Listed Index fell 1.00 points to close at 103.30.
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 bids higher than the last selling prices and 4 with lower offers, an indication of the continuation of a weak market currently.
Gains| Sagicor Financial closed with a gain of 10 cents and concluded trading at $7.80, with 105,000 units and West Indian Tobacco jumped $3.51 and settled at $88.51, with 200 stock units changing hands.
Losses| Grace Kennedy shed 1 cent to end at $3.14, with 1,000 units, Massy Holdings lost 4 cents and settled at $47.40, with 547 stock units changing hands, National Enterprises ended trading 10 cents lower at $9.65, with 10 units and NCB Financial Group concluded trading with a loss of 15 cents at $5.50, after exchanging 106,242 shares.
Firm Traded| Angostura Holdings settled at $15.72, with 220 stock units changing hands, Clico Investments concluded trading at $20.16, with 46,425 units, First Caribbean International Bank ended at $8.90, after exchanging 100 shares, First Citizens completed trading at $32.55, in exchanging 3,231 shares, JMMB Group settled at $1.90, with 52,665 stock units changing hands, Scotiabank ended at $62.51, after exchanging 100 shares, Trinidad & Tobago NGL concluded at $27.50, with 10,167 units and Trinidad Cement ended at $2.60, after trading 3,399 shares.
Prices of securities trading for the day are those at which the last trade took place.

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

US$ rate rises in BOJ FX auction

April 19, 2018 by

A total of 29 offers from dealers amounting to $18.35 million were presented for sale to Bank of Jamaica in the second buy side of B-FXITT foreign exchange auction held on Wednesday this week.
The bank accepted 22 offers for the US$12 million it offered to buy. Despite the excess supply, the rate for the US dollar rose above the average rates dealers sold to the general public at since beginning of last weeks. The average in the first buy auction held on April 11, resulted in an average rate of $125.42. The average rate came out at 125.93 for accepted offers but was J$126.24 for all amounts that were offered for sale. The highest priced offer was at U$127.50 and the lowest J$124.90.

Filed Under: FX Market Tagged With: , , ,