JSE Investors slam cabinet changes – Tuesday

March 27, 2018 by

Investors seem not to like the switch in the Ministry of Finance.

Investors reacted negatively to cabinet changes driving down main market Jamaica Stock Exchange stock prices with just 6 rising and 15 falling.
At the close, the all Jamaican Composite Index lost 1,326.19 points to 322,713.49 and the <strong>JSE Index </strong> shed 1,208.31 points to 294,028.47.
Trading closed with 30 securities changing hands, up from 25 on Monday, leading to 6 advancing, 15 declining and 9 trading firm, in the main and US dollar markets. Securities closing with sizable price changes include, Berger Paints that shed $1.45 to end at $16.50, Caribbean Cement lost $2.50 to close at $38.50, JMMB Group climbing by $1.75 to $26.45, Kingston Wharves dropping $1.50 to $38.50, NCB Financial down $1.15 to $98.70 and lost $1.30 to end at $24.70 and Seprod falling $1.50 to $32.
Main market activity ended with 21,289,061 units valued at $268,573,132 compared to 19,076,584 units valued at $210,708,799 changing hands on Monday.
Jamaica Stock Exchange shares traded 15,104,462 units and accounted for 70.8 percent of the day’s volume, followed by Jamaica Producers Group with 2,394,964 units and 11.25 percent of the volume traded and with 1,013,952 units and Kingston Wharves with 1,025,513 units with 4.82 percent of the day’s trade.
Trading resulted in an average of 760,324 shares valued at $9,591,898 for each security traded, compared to 706,540 shares valued at $7,804,030 on Monday. For the month to date, an average of 661,120 units with an average value at $21,229,208 traded, compared to 655,542 units with an average value at $21,921,023 changing hands on the previous trading day. In contrast, February closed with average of 213,336 units valued at $3,392,475 for each security traded.
Trading in the US dollar market on Tuesday ended with 86,812 units valued at US$17,344 with the market index closing with a gain of 0.85 points to 163.80.

Caribbean Cement drooped $2.50 on Tuesday, the day after cabinet changes were announced.

Proven Investments ordinary share ended trading 86,500 units at 20 US cents and Sterling Investments closed with 312 units trading with a gain of 3 US cents at 13 US cents.
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 3 with a lower offers.
For more details of market activities see –  JSE shares grab 71% of main market trades – Tuesday.

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JSE shares grab 71% of main market trades- Tuesday

March 27, 2018 by

Shares in the Jamaica Stock Exchange accounted for 71% of trading on Tuesday.

The Jamaica Stock Exchange ordinary stock ended trading with 15,075,000 shares, changing hands accounted for 70.8 percent of the day’s volume of 21,289,061 units valued at $268,573,132, in main market activity on Tuesday.
The main market closed with 28 securities changing hands and ended with only 5 securities rising, 15 falling and 8 trading firm. At the end, the JSE All Jamaican Composite Index fell by 1,326.19 points to 322,713.49 and the JSE Index declined by 1,208.31 points to 294,028.47.
In main market activity, Barita Investments closed at $9.45, with 3,003 shares, Berger Paints ended with a loss of $1.45 to $16.50, with 14,099 stock units, Cable & Wireless concluded trading 1 cent higher at $1.16, with 186,742 units, Carreras finished at $10.90, with 97,427 shares, Caribbean Cement lost $2.50 to close at $38.50, with 30,416 shares. Ciboney Group ended trading at 12 cents, with 8,000 shares, Grace Kennedy traded with a loss of 50 cents at $47.50, with 27,863 stock units, Jamaica Broilers finished trading with a loss of 22 cents at $19.03, with 36,071 units, Jamaica Producers closed with a loss of 15 cents at $15, with 2,394,964 shares. Jamaica Stock Exchange ended with a loss of 1 cent at $6.99, with 15,075,000 shares, JMMB Group concluded trading $1.75 higher at $26.45, with 62,418 shares, Kingston Wharves settled with a loss of $1.50 at $38.50, with 1,025,513 units, Mayberry Investments ended trading with a loss of 5 cents at $6.20, with 41,500 shares. NCB Financial Group traded with a loss of $1.15 at $98.70, with 400,433 shares, 1834 Investments finished trading at $1.15, with 10,580 shares, 138 Student Living ended at $5.50, with 1,500 shares, PanJam Investment ended 45 cents higher at $42.10, with 223,507 units, Radio Jamaica settled at $1.10, with 43,613 shares. Sagicor Group ended trading $36.25 higher at $36.25, with 284,764 stock units, Sagicor Real Estate Fund settled 40 cents higher at $15.45, with 13,000 shares. Scotia Group finished trading at $52.90, with 259,811 shares, Seprod finished trading with a loss of $1.50 at $32, with 48,554 shares, Supreme Ventures ended with a loss of 49 cents at $11.50, with 142,310 shares, Victoria Mutual Investments concluded trading with a loss of 12 cents at $4.38, with 379,300 stock units. Wisynco Group finished with a loss of 1 cent at $10.49, with 285,911 units trading. In the main market preference segment, Jamaica Money Market 7.5% traded at $1.95, with 45,172 stock units, JMMB Group 7.5% closed with a loss of 8 cents at $1.02, with 147,000 shares, 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 Investors slam cabinet changes – Tuesday.”

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

2 TTSE listings trade at 52 weeks’ low – Tuesday

March 27, 2018 by

First Caribbean traded on TTSE at a 52 weeks’ high on Tuesday

Market activity on the Trinidad & Tobago Stock Exchange closed on Tuesday with more stocks falling than rising as one stock closed at a 52 weeks’ high and two at 52 weeks’ lows.
At the end of trading 14 securities changed hands compared to 13 on Monday and ended with 3 rising, 5 falling and 6 closing with prices unchanged. Market activity resulted in 225,853 shares valued at $6,610,658 changing hands, compared to 123,223 shares valued at $2,237,281 on Monday.
At close, the Composite Index gained 0.78 points on Tuesday to 1,264.12, the All T&T Index shed 2.82 points to 1,698.98, while the Cross Listed Index rose 0.18 points to close at 111.87.
IC bid-offer Indicator|At the end of trading, on Tuesday, the Investor’s Choice bid-offer indicator reading shows 3 stocks with bids lower than their last selling prices and 7 with lower offers.
Gains| First Caribbean International Bank concluded trading with a gain of 5 cents and ended at 52 weeks’ high of $9.35, after exchanging 47,794 shares, Scotiabank added 1 cent and ended at $62.56, after trading 641 shares and Unilever Caribbean jumped $1.64 to $32, with an exchange of 530 units.
Losses| JMMB Group concluded trading with a loss of 1 cent at $1.85, with 69,753 stock units changing hands, Massy Holdings traded with a loss of 10 cents and settled at $47.30, with 618 stock units trading, National Flour fell 3 cents and ended at a 52 weeks’ low of $1.70, after exchanging 8,250 shares, Trinidad & Tobago NGL closed with a loss of 25 cents and completed trading at $27.75, with 497 shares traded and Trinidad Cement shed 40 cents and settled at a 52 weeks’ low of $2.60, with 550 stock units changing hands.
Firm Trades| Clico Investments concluded trading at $20.50, with 15 units, First Citizens closed at $32.50, after exchanging 3,067 shares, NCB Financial Group completed trading at $6.40, exchanging 75,577 shares, One Caribbean Media settled at $12.44, with 57 stock units changing hands, Republic Financial Holdings concluded market activity at $101.55, with 130 stock units changing hands and Sagicor Financial ended trading at $7.75 while exchanging 18,374 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: , , , , , , , , , , , , , , , , ,

Record run falters for JSE majors – Monday

March 26, 2018 by

The main market of the Jamaica Stock Exchange hits an intraday high, in early trading but failed to close at a new high.

The main market Jamaica Stock Exchange, hit an intraday record high at the start of trading on Monday but closed lower within 525 points of the record close on March 12.
At the close, the all Jamaican Composite Index jumped 1,544.61 points to 324,039.68 and the JSE Index climbed 1,407.32 points to 295,236.78.
Trading closed with 25 securities changing hands, up from 32 on Friday, leading to 13 advancing, 6 declining and 6 trading firm, in the main and US dollar markets. Securities closing with sizable price changes include, Caribbean Cement lost $1 to close at $41, Grace Kennedy declined by $1.50 to $48 and JMMB Group lost $1.30 to end at $24.70.
Main market activity ended with 19,076,584 units valued at $210,708,799 compared to 6,019,816 units valued at $133,802,480 changing hands on Friday. Wisynco Group traded 15,104,462 units and accounted for 79.18 percent of the day’s volume, followed by Ciboney Group, with 1,013,952 units and Victoria Mutual Investments with 659,569 shares.
Trading resulted in an average of 706,540 shares valued at $7,804,030 for each security traded, compared to 250,826 shares valued at $5,575,103 on Friday. For the month to date, an average of 655,542 units with an average value at 21,921,023 traded, compared to 674,192 units with an average value at $23,762,597 changing hands on the previous trading day. In contrast, February closed with average of only 213,336 units valued at $3,392,475 for each security traded.
Trading in the US dollar market on Monday ended with 390,231 units valued at US$104,789 with the market index closing with a fall of 6.21 points to 162.95. Proven Investments ordinary share ended trading 369,771 units at 20 US cents followed by Margaritaville (Turks) with 260 units at 25 US cents and JMMB Group 5.75% preference share, closed with 20,200 units trading at US$1.50.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 9 stocks ended with bids higher than their last selling prices and 3 with a lower offers.
For more details of market activities see – Wisynco corners 79% of JSE main market – Monday.

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Wisynco corners 79% of JSE main market – Monday

March 26, 2018 by

Wisynco, producers of Wata..

Wisynco Group traded 15,104,462 units and accounted for 79.18 percent of the day’s volume of 19,076,584 units valued at $210,708,799, in main market activity on the Jamaica Stock Exchange on Monday.
The main market closed with 27 securities changing hands and ended with 8 securities rising, 8 falling and 11 trading firm. At the end, the JSE All Jamaican Composite Index climbed 1,544.61 points to 324,039.68 and the JSE Index rose 1,407.32 points to 295,236.78.
In main market activity, Barita Investments closed 28 cents higher at $9.45, with 2,593 shares, Berger Paints ended at $17.95, with 1,100 stock units, Cable & Wireless concluded trading with a loss of 1 cent at $1.15, with 84,826 units, Carreras finished at $10.90, with 186,565 shares, Caribbean Cement settled with a loss of $1 to close at $41, with 13,331 shares. Ciboney Group ended trading at 12 cents, with 1,013,952 shares, Grace Kennedy traded with a loss of $1.50 at $48, with 11,033 stock units, Jamaica Broilers finished trading with a loss of 75 cents at $19.25, with 14,298 units, Jamaica Producers closed at $15.15, with 13,306 shares. Jamaica Stock Exchange ended 2 cents higher at $7, with 60,400 shares, JMMB Group fell $1.30 cents to $24.70, with 154,141 shares, Kingston Wharves settled at $40, with 56,687 units, Mayberry Investments ended trading with a loss of 3 cents at $6.25, with 4,338 shares. NCB Financial Group traded 50 cents higher at $99.85, with 28,618 shares, 1834 Investments finished trading at $1.15, with 32,418 shares, PanJam Investment ended at $41.65, with 18,597 units, Pulse Investments finished 10 cents higher at $1.75, with 221,312 shares. Radio Jamaica settled 4 cents higher at $1.10, with 48,935 shares, Sagicor Group finished trading $36.05 higher at $36.05, with 633,364 shares changing hands, Sagicor Real Estate Fund settled with a loss of 45 cents at $15.05, with 16,661 shares. Scotia Group traded with a loss of 42 cents at $53.05, with 175,666 units, Seprod finished trading at $33.50, with 4,692 shares, Supreme Ventures ended 49 cents higher at $11.99, with 500,720 shares. Victoria Mutual Investments concluded trading 10 cents higher at $4.50, with 659,569 stock units and Wisynco Group finished at $10.50, with 15,104,462 units. In the main market preference segment, JMMB Group 7.5% gained 8 cents and closed at $1.10, with 5,000 shares and Proven Investments settled at $5.15, with 10,000 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 “Record run falters for JSE majors – Monday.”

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

Junior Market still consolidating – Monday

March 26, 2018 by

Junior Market has been consolidating for most of 2018, after peaking in mid 2017.

The Junior Market Index slipped just 0.19 points to close at 2,931.12 on Monday, from 18 securities changing hands, leading to 7 advancing, 7 falling and 4 remaining unchanged.
Trading ended with an exchange of 1,101,351 units valued at $3,914,113.37, compared with 1,215,407 units valued at $4,590,122 from 21 securities changing hands on Friday.
Market activity ended with an average of 61,186 units for an average of $217,451 compared to an average of 57,877 units for an average of $218,577 on Friday. The average volume and value for the month to date, amounts to 139,878 units at $592,290, compared to an average of 143,548 units at $609,769 on the previous trading day. February closed with an average of 338,697 units at an average value of $1,495,774 for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows just 5 stocks ending with the bid higher than the last selling price and 6 with lower offers.
At the close of the market, AMG Packaging ended trading at $2, with 166,225 stock units, CAC 2000 finished market activity at $8.70, with 8,290 shares, Caribbean Producers finished trading with a loss of 3 cents at $4.67, as 28,364 units changed hands, Elite Diagnostic settled 2 cents higher at $3.20, with 400,400 units, Express Catering traded 45 cents higher to $4.95, with 266,510 shares, after the company reported third quarter results showing a 166 percent jump in profits. FosRich Group finished trading with a loss of 25 cents at $2.40, with an exchange of 13,695 shares, General Accident closed with a loss of 6 cents at $3.13, as 3,000 stock units traded, Honey Bun concluded market activity with a loss of 2 cents at $4.73, with 34,250 shares, Jamaican Teas ended trading 6 cents higher at $4.51, with 4,901 stock units. Jetcon Corporation added 5 cents to close at $4.25, with 50,889 units, Knutsford Express ended with a loss of 48 cents at $14, with 961 shares trading, Lasco Distributors concluded trading 5 cents higher at $4.05, with 46,436 stock units, Lasco Financial finished with a loss of 8 cents at $4.92, trading just 188 units. Lasco Manufacturing settled with a loss of 20 cents at $4, with 9,350 shares, Main Event ended trading at $5.81, with 2,000 shares, Medical Disposables closed 18 cents higher at $5, with 38,254 shares and Stationery and Office closed at $5.50, while exchanging 8,989 units. In the junior market preference segment, Derrimon Trading closed 14 cents higher at $2.14, with 18,649 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: , , , , , , , , , , , , , , , , , , , ,

Modest price changes on TTSE – Monday

March 26, 2018 by

The Trinidad & Tobago Stock Exchange closed on Monday with 13 securities trading against 17 on Friday, 2 gained, 3 fell and 8 remained with prices unchanged.
Market activity ended with 123,223 shares valued at $2,237,281 changed hands, compared to 198,944 shares valued at $3,013,557 on Friday. At close, the Composite Index gained 1.07 points to 1,264.90, the All T&T Index declined 2.05 points to 1,701.80, while the Cross Listed Index rose 0.01 points to close at 111.69.
IC bid-offer Indicator|At the end of trading, on Friday, the Investor’s Choice bid-offer indicator reading shows 4 stocks with bids lower than their last selling prices and 5 with lower offers.
Gains| Agostini’s added 2 cents and concluded trading at a 52 weeks’ high of $21.06, after exchanging 1,200 shares and Guardian Holdings rose 1 cent to settle at $16.01, after trading 20,044 shares.
Losses| National Flour ended trading 7 cents lower and settled at a 52 weeks’ low of $1.73, after exchanging 500 shares, Sagicor Financial concluded trading with a loss of 6 cents at 52 weeks’ low of $7.75, with 9,818 units and Trinidad & Tobago NGL traded with a loss of 98 cents and concluded trading at $28.00, after exchanging 40,455 shares.
Firm Trades| Clico Investments completed trading at $20.50, with 7,890 units, First Caribbean International Bank settled at $9.30, after trading at a 52 weeks’ intraday high of $9.31 in exchanging 39,491 shares, First Citizens concluded market activity at $32.50, after exchanging 1,725 shares, JMMB Group ended at $1.86, with just 942 stock units changing hands, NCB Financial Group closed at $6.40, after exchanging 150 shares. One Caribbean Media ended at $12.44, with 73 stock units changing hands, Republic Financial Holdings traded 235 stock units and ended at $101.55 and West Indian Tobacco settled at $88.50, after exchanging 700 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: , , , , , , , , , , , , , , ,

JSE at record high at opening

March 26, 2018 by

The Jamaica Stock Exchange hit a new record within 1 minute of today’s opening with the JSE All Jamaican Composite Index jumping 4,576.37 points to 327,071.44 and the JSE Index climbing 4,169.59 points to a record 297,999.05.
The move beat the previous record intraday high reached on March 9 of when the JSE All Jamaican Composite Index (AJI) surged 6,583.63 points to 325,588.39 and the JSE Index jumped 5,998.43 points to a record 296,647.83 at 10.26 in the morning session.
The Junior Market Index put on 11.32 points to trade at 2,942.63 as Express Catering jumped to $5.25 from $4.50 on Friday, following release of nine months results showing profit increasing 166 percent.
With just 5 minutes to 11am the gains for the main market were trimmed with the AJI being up 3,075.18 points to 325,570.25 and the JSE index was up 2,808.68 to 296,638.14 with the Junior Market index being up 15.45 points to 2,946.76.

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

Palace is back NCB out of TOP 10 stocks

March 26, 2018 by

 

New contents at Palace Amusement .

Palace Amusement is back in among the top stocks, after falling out at the end of the previous week, with the stock now offered for sale at $1,120, below the last sale price of $1,300.
There is still no new entrants to the junior market TOP 10, for the second week in a row, as there has been only moderate price changes in that market.
A new element in the market this past week, is the payment to some former Cable & Wireless shareholders who collected nearly $2 billion in cash. Most of these funds are likely to go back into the market that is short on supplies.
The price of NCB Financial rose by the end of the week and moved out of the main market top stock list. Caribbean Cement that has languished just above the $30 level for months has broken into the $40 range and moved down to the second half of the list. The sharp price change follows an announcement that the company signed an agreement to buyback leased assets during this year. The buyback is set to save around $2 billion per annum before tax.
Palace Amusement revenues and profit, are getting a big lift from the strong showing of the Black Panther movie being shown currently. The stock’s attractiveness is not based solely on that development. Data shows the company’s revenues have been rising well since 2014 when it hit $833 million, rising to $916 million in 2015, while there was a slight dip in 2016 to $909 million, it rose 9 percent in 2017, to $990 million. Revenues for the half year to December last year grew 11 percent to $493 million and profit rising 138 percent, continuing the normal annual growth. Revenues will hit the billion mark for the first time in the company’s history, for the current fiscal year and remain over that level going forward. The performance of the economy is critical to the future fortunes and to a lesser degree, the quality of films. Data shows that with tight economy, patronage in Kingston suffered badly with the fall in the economy from in 2008 onwards. At the same time strong growth said to be around 7 percent per annum in the Montego Bay economy, shows up in strong revenues gains there compared to Kingston. With the overall economy recovering, Palace is benefitting.
PanJam Investment for 2017, reported a 29 percent rise in profit to $4.13 billion and in earnings per share of $3.93 from continuing operations. The group is expected to continue to enjoy increased earnings in 2018 and the focus on expansion of new projects will be beneficial to them going forward.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 6.3 compared to an average PE for the overall main market is 10 based on 2018 estimated earnings. The main market PE is 6.8 for the top stocks compared to a market average of 12.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 37 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, 20 times earnings and main market stocks traded at a discount of 44 percent to the market.

Entities associated with IC Insider.com owns shares in Palace Amusement Company and Caribbean Cement.

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20% profit rise for ISP Finance

March 24, 2018 by

ISP Finance Services reported growth in net profit of 20 percent for 2017 to $48.5 million from $41 million in 2016. For the final quarter of the year profit was flat at $17.9 million versus the same period in 2016. The company reported earnings per share of 46 cents.
Increased loan provision of $7.5 million versus a recovery of $1 was the reason for the flat out turn for the December quarter. Interest income from loans rose 24.6 percent to $287 million from $231 million in 2016 while for the December quarter revenues form loans grew 24 percent to $78.5 million. Net interest income ended at $261 million compared to $205 million for the prior year, an increase of 27 percent while for the December quarter net interest income rose by 40 percent to $71 million. Employees cost rose 32 percent in the quarter to $27 million and 18 percent for the year to $108 million while other operating  expenses closed the year 6 percent higher for the quarter to $17 million and 18 percent for the full year at $76 million.
ISP concluded the year with equity capital of $285 million that generated an average return of 19 percent for the year. The loan portfolio ended at $439 million, up 40 percent from $313 million in 2016 with cash funds of $30 million and borrowings of $208 million.
IC Insider.com projects earnings of $1.20 per share for 2018, the stock that is in limited supply now trades at $13.50 at a PE of 11, the great attraction for the stock is one of long term growth rather than short term gains.

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