JSE main market highest since October

March 6, 2018 by

The Main Market of the Jamaica Stock Exchange closed higher for the third consecutive day at the close of trading on Tuesday and putting the JSE All Jamaican Composite Index to the highest level since it peaked at 323,606 points in October last year.
The market closed with the JSE All Jamaican Composite Index (AJI) climbing 1,526.21 points to 321,783.85 and the JSE Index adding 1,390.55 points to 293,181.47 as the market continues to flirt with the upper resistance line of a long term channel with technical signals suggesting that it will continue to creep slowly upwards to the 330,000 points level on the AJI where some resistance lies, but it seems poised to break out thereafter sharply upwards. First quarter results for 2018 will be critical for such a break.
Trading on Tuesday closed with 29 securities changing hands, leading to 10 advancing, 9 declining and 10 trading firm, in the main and US dollar markets.

Berger Paints traded most shares with price falling $2.07 to $17.


The securities with the largest price changes include, Berger Paints ending with a loss of $2.07 to $17, following release of audited nine months results showing a reduction in earnings at 81 cents compared to $1.17 for the same period in 2016 but with the 2017 figures being hit by a large sum incurred to provide the directors recommendation to shareholders following the takeover offer for the shares and JMMB Group added $1.49 to end at $26.49.
Main market activity ended with 10,582,771 units valued at $143,248,381 changing hands, versus 4,116,289 units valued at$49,819,783 on Monday. Berger Paints accounted for 2,492,575 units and 23.55 percent of total shares traded followed by Wisynco Group with 2,449,787 units with 23.15 percent of total volume traded and Victoria Mutual Investments with 1,963,833 units or 18.56 percent of the day’s trades and Sagicor Bank 7.75% preference share ended trading with 1,351,850 shares.
Trading results in an average of 391,954 shares valued at $5,305,496 for each security traded, sharply down on the 158,319 shares valued at $1,916,145 on Monday. For the month to date an average of 1,452,362 units with an average value at $16,597,564 traded, compared to 1,819,426 units with an average value at $20,506,358 traded 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 ended with Productive Business Solution exchanging 5,800 shares at 58 US cents after dropping by 2 cents and Proven Investments concluded trading at 21.1 US cents, down from 21.50 cents with 490,191 units changing hands. The market closed with a total of 495,991 shares with a value of US$106,780 as the market index slipped 3.71 points to 165.85.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 5 stocks ended with bids higher than their last selling prices and 1 with a lower offer.

For more details of market activities see – JSE adds 4,453 points in 3 days – Tuesday.

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Junior Market up again – Tuesday

March 6, 2018 by

The Junior Market of the Jamaica Stock Exchange index, climbed 33.65 points, to close at 2,897.08 on Tuesday, with 22 securities changing hands, compared to 23 trading on Monday.
Market activity resulted in the prices of 10 securities advancing, 6 declining and 6 remaining unchanged, from an exchange of 2,525,646 units valued at $10,130,237, versus 2,509,141 units valued at $11,095,172 on Monday.
Trading ended with an average of 114,802 units for an average of $460,465 compared to an average of 109,093 units for an average of $482,399 on Monday. The average volume and value for the month to date, amounts to 108,116 units at $436,591, compared to an average of 106,129 units at $429,494 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 6 stocks ending with the bid higher than the last selling price and 3 with lower offers.
At the close of the market, Access Financial closed at $50, with 790 shares trading, AMG Packaging ended with a loss of 5 cents at $2, with 145,646 stock units, CAC 2000 finished at $8.70, with 6,000 shares, Caribbean Cream ended trading with a loss of 45 cents at $6.05, with 67,157 shares, Caribbean Producers finished trading 4 cents higher at $4.15, with 9,574 units. Derrimon Trading concluded trading 4 cents higher at $7.52, with 9,494 shares, Elite Diagnostic settled 5 cents higher at $2.82, with 451,759 units, Express Catering traded 60 cents higher at $4.90, with 30,000 shares, FosRich Group finished trading at $2.50, with 10,681 shares. General Accident closed with a loss of 14 cents at $2.90, with 136,800 stock units, GWest Corporation ended with a loss of 1 cent at $2.89, with 3,500 units, Honey Bun concluded trading with a loss of 20 cents at $4.10, with 348,993 shares, Iron Rock finished at $3, with 2,000 shares. Jamaican Teas ended trading at $5, with 506,040 stock units, Jetcon Corporation traded with a loss of 25 cents at $4.25, with 32,300 units, Key Insurance finished trading 1 cent higher at $3.95, with 5,000 shares, Knutsford Express ended at $15, with 108 shares. Lasco Distributors concluded trading 10 cents higher at $4.20, with 244,710 stock units, Lasco Financial finished 30 cents higher at $4.90, with 95,473 units, Lasco Manufacturing settled 11 cents higher at $4.20, with 382,706 shares, Main Event ended trading 20 cents higher at $6.20, with 10,915 shares and Stationery and Office closed 40 cents higher at $5.50, with 26,000 unitschanging hands.
Prices of securities trading for the day are those at which the last trade took place.

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5 stocks up 2 down on TTSE – Tuesday

March 6, 2018 by

First Citizens Bank trades at 52 weeks’ high on Tuesday.

Market activity picked up on the Trinidad & Tobago Stock Exchange on Tuesday with 16 securities trading from just 11 on Monday. The market closed with 588,618 shares valued at $3,726,394 trading, compared to 814,429 shares valued at $6,075,902 on Friday.
The market closed with the prices of 5 stocks rising, 2 declining and 9 remaining unchanged. At close, the Composite Index fell 0.35 points on Tuesday to 1,271.71, the All T&T Index closed with a rise of 1.47 points to 1,702.26, while the Cross Listed Index losing 0.11 points to close at 113.51.
IC bid-offer Indicator|At the end of trading, on Tuesday, the Investor’s Choice bid-offer indicator reading shows 5 stocks with bids lower than their last selling prices and 5 with lower offers.
Gains| First Citizens closed with a gain of 9 cents at a 52 weeks’ high of $32.20, trading 2,500 shares, Massy Holdings gained 25 cents and ended at $47.50, with 178 stock units changing hands, Sagicor Financial finished trading with a rise of 2 cents to $7.85, with 2,500 units, Scotiabank closed with an increase of 6 cents and settled at $61.96, trading 326 shares and Trinidad & Tobago NGL ended trading, rising 22 cents to end at $27.50, trading 5,452 shares.
Losses| National Flour shares fell 3 cents and settled at $1.83, trading 291 shares and NCB Financial Group closed with a loss of 2 cents at $6.53, trading 174,596 shares.
Firm Traded| Ansa Mcal completed at $60, with 2,530 units, Ansa Merchant settled at $40, trading 524 shares, Clico Investments completed at $20.01, with 19,080 units, First Caribbean International Bank settled at $9.30, trading 96,427 shares, Grace Kennedy completed at $3.35, with 32,626 units. JMMB Group ended at $2, with 227,450 stock units changing hands, National Enterprises completed at $9.65, with 3,000 units, One Caribbean Media ended at $12.48, with 20,981 stock units changing hands and Point Lisas completed at $3.81, with 157 units changing hands.
Prices of securities trading for the day are those at which the last trade took place.

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JSE main market sharply higher – Monday

March 5, 2018 by

Bulls may be lurching to pounce on Jamaican stocks.

The Main Market of the Jamaica Stock Exchange closed sharply higher at the close of trading on Monday, with advancing stocks just edging out declining ones.
The market closed with the JSE All Jamaican Composite Index surging 2,130.17 points to 320,257.64 and the JSE Index adding 1,940.83 points to 291,790.92 as the market continues to flirt with the upper resistance line of a long term channel.
Trading on Monday closed with 26 securities changing hands, leading to 10 advancing, 8 declining and 8 trading firm, in the main and US dollar markets. There was no trading in the US dollar market at the close on Monday.
The securities with the largest price changes include, Grace Kennedy losing $2 to close at $44, JMMB Group that fell $1 to $25. Kingston Wharves lost $2.25 to end at $39.75, Sterling Investments gained $1 to $14 and Victoria Mutual Investments climbed 40 cents to a new high of $4.85 while trading the most shares for the day.
Main market activity ended with 4,116,289 units valued at $49,819,783 compared to 115,025,659 units valued at $1,171,809,500 on Friday. Victoria Mutual Investments accounted for 2,484,967 units and 60.4 percent of total shares traded followed by Wisynco Group with 525,358 units with 12.76 percent of total volume traded and Kingston Wharves with 298,752 units or 7.26 percent of the day’s trades.
Trading results in an average of 158,319 shares valued at $1,916,145 for each security traded, sharply down on the 4,424,064 shares valued at $45,069,596 on Friday. For the month to date an average of 1,819,426 units with an average value at $20,506,358 traded, compared to 2,649,980 units valued at $29,801,464 traded on the previous trading day. In contrast, February closed with average of 213,336 units valued at $3,392,475 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 5 stocks ended with bids higher than their last selling prices and 1 with a lower offer.

For more details of market activities see – VM Investments dominates JSE’s Monday trading.

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VM Investments dominates JSE’s trading

March 5, 2018 by

VM Investments closes at a new high on Monday.

Victoria Mutual Investments dominated trading on the Main Market activity on the Jamaica Stock Exchange on Monday, accounted for 60.4 percent of total shares traded and closed at a record high of $4.85.
Market activity on Monday fell well below that on Friday but the market indices climbed much higher even as advancing stocks just edged out declining ones. The main market ended with 26 securities changing hands, ending with 10 securities rising, 8 falling, 8 trading firm. The JSE All Jamaican Composite Index surged 2,130.17 points to 320,257.64 and the JSE Index adding 1,940.83 points to 291,790.92.
Trading ended with 4,116,289 units valued at $49,819,783 changing hands, versus 115,025,659 units valued at $1,171,809,500 on Friday.
In main market activity, Barita Investments closed at $7.50, with 10,345 shares traded, Berger Paints ended 7 cents higher at $19.07, with 63,799 stock units, Carreras finished at $11, with 18,161 shares, Caribbean Cement settled with a loss of 4 cents at $33.05, with 9,961 shares, Ciboney Group ended trading 3 cents higher at 10 cents, with 35,000 shares. Grace Kennedy traded with a loss of $2 at $44, with 4,300 stock units, Jamaica Broilers finished trading with a loss of 12 cents at $18.88, with 11,324 units, Jamaica Producers closed at $15, with 39,031 shares, Jamaica Stock Exchange ended 15 cents higher at $6.70, with 2,250 units changing hands. JMMB Group concluded trading with a loss of $1 at $25, with 288,866 shares, Kingston Properties finished at $6.65, with 680 stock units, Kingston Wharves settled with a loss of $2.25 at $39.75, with 298,752 units, Mayberry Investments ended trading 41 cents higher at $5.41, with 1,450 shares. NCB Financial Group traded with a loss of 30 cents at $99.20, with 66,155 shares, PanJam Investment ended at $41.50, with 14,567 units, Pulse Investments finished with a loss of 7 cents at $1.78, with 2,500 shares, Sagicor Group ended trading 40 cents higher at $37.50, with 32,719 stock units. Scotia Group finished trading 88 cents higher at $50.90, with 1,240 shares, Sterling Investments ended $1 higher to $14, with 4,300 shares, Supreme Ventures concluded trading with a loss of 45 cents at $11.50, with 159,366 stock units, Victoria Mutual Investments finished 40 cents higher at a new high of $4.85, with 2,484,967 units. Wisynco Group settled 25 cents higher at $10.50, with 525,358 shares and Sagicor Real Estate Fund ended trading at $17, with 37,978 shares. In the main market preference segment, Jamaica Money Market 7.5% traded at $1.95, with 1,220 stock units, JMMB Group 7.5% closed at 99 cents, with 1,000 shares, Proven Investments settled 10 cents higher at $6, with 1,000 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 “JSE main market sharply higher – Monday.”

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Junior Market rise on greater volume – Monday

March 5, 2018 by

The Junior Market of the Jamaica Stock Exchange index advanced by 17.52 points to close at 2,863.43 on Monday. 23 securities changing hands, compared to 25 changing hands on Friday.
Market activity resulted in the prices of 10 securities advanced, 8 declined and 5 remained unchanged from an exchange of 2,509,141 units valued at $11,095,172 versus an exchange of 1,770,268 units valued at $6,952,112 on Friday.
Trading ended with an average of 109,093 units for an average of $482,399 compared to an average of 70,811 units for an average of $278,084 on Friday. The average volume and value for the month to date amounts to 106,129 units at $429,494, compared to an average of 104,792 units at $405,635 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 5 stocks ending with the bid higher than the last selling price and 3 with lower offers.
At the close of the market AMG Packaging ended with a loss of 15 cents at $2.05, with 104,354 stock units trading, Blue Power concluded trading with a loss of $1.99 at $33.01, with 10,000 units, CAC 2000 finished with a loss of 30 cents at $8.70, trading 1,000 shares, Caribbean Cream ended trading 22 cents higher at $6.50, with just 2,000 shares, Caribbean Producers rose by 1 cent to end at $4.11, with 962,877 units. Derrimon Trading concluded trading at $7.48, with 57,908 shares, Dolphin Cove finished with a loss of 90 cents at $16.10, exchanging 750 stock units, Elite Diagnostic settled with a loss of 8 cents at $2.77, with 381,025 units, Eppley ordinary share ended trading at $10, with 15,000 shares. Express Catering traded with a loss of 4 cents at $4.30, with 51,030 shares, FosRich Group finished trading at $2.50, with 33,614 shares, General Accident closed 8 cents higher at $3.04, with 169,615 stock units, GWest Corporation ended at $2.90, with 6,040 units changing hands. Honey Bun concluded trading 10 cents higher at $4.30, with 20,800 shares, Jamaican Teas rose 10 cents to close at $5, with 32,000 stock units, Jetcon Corporation traded with a loss of 40 cents at $4.50, swapping 210,424 units, Knutsford Express ended 4 cents higher at $15, with 66,427 shares. Lasco Distributors concluded trading 10 cents higher at $4.10, with 308,000 stock units, Lasco Financial finished 10 cents higher at $4.60, with 4,514 units, Lasco Manufacturing settled 34 cents higher at $4.09, with 24,200 shares, Main Event ended trading at $6, with 6,152 shares. Medical Disposables traded 5 cents higher at $4.85, with 311 shares and Stationery and Office closed with a loss of 38 cents at $5.10, with 41,100 units changing hands.
Prices of securities trading for the day are those at which the last trade took place.

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CrediScotia costs Lasco Financial $1.5B

March 5, 2018 by

Lasco Financial profit dropped for 2017 Q3.

The acquisition of company operating CrediScotia, renamed LASCO Microfinance Limited cost Lasco Financial around $1.5 billion, data disclosed in the company’s December quarterly report shows.
The acquisition was funded primarily from related party advances which stands on the books at $1.27 billion. The amount will be repaid in full from a long term instrument being arranged to raise $1.5 billion at an interest rate of 9.5% and also to provide working capital to allow for expansion of the loan portfolio.
The acquisition was the main contributor for a $1.5 billion surge in the assets of the enlarged Group, taking it to $3.26 billion at the end of December.
Scotia Jamaica Microfinance Company, name was changed, effective at the start of December, following the acquisition by LASCO Financial Services in November 2017.
LASCO Microfinance now, a wholly owned subsidiary of Lasco Financial, is the ”fourth largest contender in the local microfinance market behind Jamaica National Small Business Loans, Access Financial Services and Worldnet Investment,” a release from Lasco disclosed.
The group “aims to continue a seamless transition to merge its networks, systems and processes over the next few months to effectively organize its operations under two main business lines – money services and loans through the

Jacinth Hall-Tracey, Managing Director of Lasco Financial.

LASCO Money brand and LASCO Microfinance.”
At the end of March 2017 loans advanced to borrowers on the books was $282 million and seemed to have climbed to approximately $650 million by September last year. The acquisition has increased the group’s loan portfolio to $1.3 billion, Managing Director of Lasco, Jacinth Hall-Tracey confirms. The merger has also almost tripled the loan team to just under 90 persons, spread over 13 loan offices island-wide.
Interestingly, while the acquisition of CrediScotia took place in November, the results for Lasco show no increase in income for the December quarter. For the September quarter total revenues reached $396 million up from $272 million in 2016, but the December quarterly, reports trading income of $407 million compared to the revenue in September, but it was well ahead of the $298 million generated in the December quarter of 2016. The December quarter is usually the period of highest revenues exceeding all other quarters by a good margin. “There was reduced fX spread compared with September quarter which impacted income; it also led to a revaluation loss,” Hall-Tracey informed IC Insider.com. Profit fell in the quarter to $55 million from $100 million in September an unusual development as profit would normally be greater than the amount reported in the September quarter, after recognizing some direct expenses for the acquisition and normal seasonal operational increases,” Hall-Tracey stated. There was short term debt which attracted legal & professional fees for the short term loan and there was finance cost as well as transaction fees for the short term borrowings to settle the sale price on Hall-Tracey informed IC Insider.com.
Adjusted for the above one off cost and set back earnings from ongoing operation is well ahead of the $55 million reported for the period in 2017 and augurs well for improved results for the March 2019 results.

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

No losses on TTSE on Monday

March 5, 2018 by

Market activity picked up on the Trinidad & Tobago Stock Exchange on Monday with 11 securities trading from just 12 on Friday with no security losing. The market closed with 814,429 shares valued at $6,075,902 trading, compared to 240,391 shares valued at $3,651,230 on Friday.
The market closed with the prices of 5 stocks rising, none declining and 6 remaining unchanged. At close, the Composite Index rose 1.15 points on Monday to 1,271.36, the All T&T Index closed with a rise of 0.47 points to 1,700.79, while the Cross Listed Index gained 0.25 points to close at 113.62.
IC bid-offer Indicator|At the end of trading, on Monday, the Investor’s Choice bid-offer indicator reading shows 5 stocks with bids lower than their last selling prices and 5 with lower offers.
Gains| Clico Investments rose 11 cents and settled at $20.01, with 155,760 units, JMMB Group finished trading with a gain of 1 cent at $2, with 22,922 stock units changing hands, NCB Financial Group gained 2 cents and ended at $6.55, trading 2,120 shares, Trinidad & Tobago NGL closed with an increase of 1 cent at $27.28, trading 18,930 shares and Unilever Caribbean finished 50 cents higher and settled at $29.50, with 348 units.
Losses|There were no stocks closing with a loss on Monday.
Firm Traded| First Citizens ended at $32.11, trading 2,850 shares, Grace Kennedy settled at $3.35, with 593,796 units, National Flour ended at $1.86, trading 2,097 shares, Republic Financial Holdings completed trading at $101.51, with 1,600 stock units changing hands, Sagicor Financial settled at $7.83, with 13,906 units trading and West Indian Tobacco concluded trading at $88.55 with 100 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.

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Mahfood family sold over 111.8m Wisynco shares

March 5, 2018 by

Wisynco had the largest trades on Friday.

On Friday almost 112 million shares in Wisynco Group traded with a value of $1.16 billion. “Yes the family sold 111,820,000 units on Friday with four pension funds taking up the block,” William Mahfood Chairman of Wisynco advised IC Insider.com.
Mahfood advised that when the family took the decision to go public the intension was to have sold 4 percent of the share the company to the public by way of new shares and 19 percent of the existing shares. Ahead of the initial offering a decision was made to sell only 20 percent of the company to the public with the balance to be sold after.
The sale of the shares on Friday was full filling the original decision taken which reduces Wisynco Group Caribbean Ltd holdings to just over 74 percent of the total shares issued or 2.776 billion units. Mahfood says there are no plans to sell any more shares.

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Partial recovery for JSE majors – Friday

March 2, 2018 by

Rising prices on the main market of the Jamaica Stock Exchange had the upper hand at the close of trading on Friday, with an advance delcie ratio of 3 to 2.
At the close, the JSE All Jamaican Composite Index in gaining 796.36 points to 318,127.47 and the JSE Index adding 725.57 points to end at 289,850.09.
Trading on Friday closed with 27 securities changing hands leading to 11 advancing, 8 declining and 8 trading firm, in the main and US dollar markets.
The securities with the largest price changes include, Berger Paints that dropped $2.35 to $19, Caribbean Cement falling $2.99 to $33.01, Grace Kennedy jumping $2 to $46, Jamaica Producers losing $2 to $15, JMMB Group that climbed $1.99 to $26, Sagicor Real Estate Fund jumping $1 to a record $17 and Scotia Group with a fall of $1.98 to $50.02.
Main market activity ended with 115,025,659 units valued at $1,171,809,500 compared to 22,773,292 units valued at $377,866,606 on Friday. Wisynco Group accounted for 111,757,051 changing hands, followed by Ciboney Group with 1,851,345 units.
Trading results in an average of 4,424,064 shares valued at $45,069,596 for each security traded, in contrast to 875,896 shares valued at $14,533,331 on Thursday. For the month to date an average of 2,649,980 units valued at $29,801,464 traded. In contrast, February closed with average of 213,336 units valued at $3,392,475 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 7 stocks ended with bids higher than their last selling prices and 2 with lower offers.
Trading in the US dollar market ended with Proven Investments concluded trading at 21.5 US cents, down from 21.94 cents with 101,500 units changing hands with a value of US$21,823 as the market index slipped 2.05 points to 169.56.

For more details of market activities see – Wisynco trades 112 million shares on JSE – Friday.

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