FX: Monday, 13th May 2013

Robust FX trading

USD | The foreign exchange market enjoyed high levels of trade on Monday as the equivalent of US$47.29 million were bought while selling amounted to US$50.44 million. This is in contrast with last week’s Monday’s trade in which US$41.2 million were purchased and US$44.4 million sold.

However, the selling rate for the US dollar slipped from Friday’s close to end at J$99.018 (Friday J$99.058) as US$48.6 were sold and US$44.2 million were bought at J$98.52, slightly lower than Friday’s buying rate of J$98.58.

GBP | Sellers to authorized dealers sold £1.3 million at an average of J$149.30 while dealers sold £1.16 million at an average of J$152.72 compared to Friday, when it was sold at J$153.07.

CAD | CAD$1.63 million were bought at an average of J$95.77, a sharp decline from Friday’s rate of J$97.21 and the amount sold was CAD$897,257 at an average rate of J$97.86, slightly higher than Friday’s trades which took place at J$97.79.

Highs & Lows | The highest selling rate for the US dollar remains over J$104 while the lowest is at $81.16. The Pound was sold at a high of $158.68 and a low of $147.56 and the Canadian at a high of $102.45 and a low of $95.15.

FX_TRADE+HighLow+May13

FX_TRADE+Currency+May13

 

FX: Friday, 10th May 2013

Buying exceeds selling by US$10m

USD | Trading activity in the currency market was relatively uneventful with the most watched currency against the Jamaican dollar, the US, hardly had any rates change. Authorised dealers bought US$37.5 million and sold only $27.6 million, that is almost a $10 million difference. The average buying rate for US dollars was $98.579 and the currency was sold at $99.0575. Yesterday, the rates were, buying $98.448 and selling $99.051 resulting in a minor devaluation of the Jamaican dollar against the US.

CAD | More Canadian dollars were purchased today than on Thursday. The amounts purchased was CAD$ 1.63 million and selling $885,795. Purchases of Canadian dollars cost more but sellers charged less to offload the currency today.

GBP | Today £960,233 pounds were bought compared to Thursday’s buying of £3,661 million. There was selling of £734,700, far less than the £3.04 million sold on Thursday. The rate of the pound fell in today’s trading with the buying rate off J$2.30 taking it to J$150.45, the selling rate was 46 cents lower.

Yen falls | Elsewhere the Japanese yen crossed aggressively over the 100 barrier and reached just under 102 yen to the US dollar before retreating to 101.61 at the close as the US dollar gathers strength based on what many in the market are seeing as an ever improving economic developments in the United States. The yen has climbed back from a low of 77 to one US dollar last year. The move which many expect to continue will benefit Jamaicans, making imports form that country vastly cheaper than in 2012.

FX_TRADE+HighLow+May10

FX_TRADE+Currency+May10

FX: Thursday, May 9th 2013

Mixed FX market

GBP | The main action was in the trading of pounds sterling on Thursday as buying was up on Wednesday with £3,661 million bought compared to £779, 323 on Wednesday. The rate climbed for buying as it moved up by $1.90 over Wednesday’s price of J$150.832 to the pound. On the sell side, more than £1.56 million were sold than on Wednesday but the price slipped by 14.55 cents. The pound’s lowest buying rate moved down sharply from 130.07 to J$124.09 and was the most pronounced change in rates for the day.

CAD | The Canadian dollar was less expensive on both the buying and selling side as it took, on average, 47 cents to sell to the system but buyers were paying under a cent less for that currency.

USD | Authorized dealers bought US$24 million for 10 Jamaican cents less per US dollar and sold US$23 million for about 2 cents more than on Wednesday. Overall, the market once more traded more currency on the buy side than on the sell side. Sale of foreign currency was also less than the amount bought on Wednesday. Purchases on Thursday were less than on Wednesday and less selling also took place. There were US$9.6 million less purchases in the system and US$10.3 million less were sold than on Wednesday.

FX_TRADE+HighLow+May9

FX_TRADE+Currency+May9

ForEx: Wednesday, 8th May 2013

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Rates up in trades

The average buying and selling rates inched up on Wednesday for the US and Canadian dollar. It took less for the public to buy  the Pound, while authorized dealers also paid less for the British currency than yesterday on average on a day when there were more purchases of foreign exchange by authorized dealers than by the general public for all the major currencies. Purchases in the foreign exchange market amounted to $40.278 million and $37 million were sold, with the average selling rate for the US dollar inching up to $99.0324 from $99.0056 on Tuesday. Purchases took place at an average of $98.5543 compared to yesterdays $98.5034.

ForExSummaryMay8The Canadian dollar changed hands at $97.2189 and was sold at $98.585 compared with yesterday’s $96.446 buying and $97.9598 selling. The Pound sold today for $153.6649 compared to Tuesdays $153.7841 and was bought at $150.8328 with yesterday’s trade working out at $151.1563. On both days the level of buying of pounds and Canadian dollars were well in excess of sales.

This is the first day since the start of last week that the rate of the US has actually moved against the Jamaican dollar.

The highest rates today were $104 selling for the US dollar, the same as Tuesday, and buying $99.95 versus $99.20 on Tuesday. On the low, the US dollars were bought for $81.16, the same as yesterday, and sold at a low of $97.20. Yesterday the lowest sale was at $83.26 and the purchase at $81.16.

ForExDEtailsMay8

Daily Trading 7th May 2013

JSE | Junior market sets a record with no trades

The junior market achieved a record today when no shares traded. This has never happened, except in the early days when Access Financial Services was the only listed stock on the junior market. Many investors and brokerage house personnel told ICInsider.com that investors were wondering what had happened, some thinking a computer glitch had occurred. In the end, we were told that brokers did not effect any trades since the bids and offers were quite far apart for some stocks and in some cases the volumes on either side, offer or buy, were small.

Five stocks in the junior market and 5 in the main market closed with bids above the last sale price, which means higher prices ahead.

JSEINdicesMay7Bullish days ahead? | The junior market is not the only place that is showing signs of improved investor’s sentiment. In the main market, Scotia Group has rebounded from the post NDX effect by trading in good volumes, NCB is well off the low it reach after the NDX announcement, Grace Kennedy and Carreras have been moving higher.  A number of stocks seem to have found a floor, with strong bids at their last selling price. At the same time, supply is drying up for some stocks. That may well be so, but the all signals are not yet in place for a grand rally.

Interestingly, the market is not reacting negatively to the write-off of unrealized investment gains that have knocked off huge profits for the March Quarter among the financial institutions. Investors seem to be looking beyond that, to recognize that even with those one-off charges, stock prices are still undervalued on the whole. Also, interest rates are likely to fall some more and with very low yields on money market instruments, stocks may be the main thing in town for a long time to come.

Scotia Bank with 1.8 million shares changing hands today valued at $39.1 million commanded the bulk of trading and the stock price moved up 31 cents. Interestingly, the bid to offer ratio on this stock is pitched in favour of buyers as they outnumber sellers. Volumes have generally been low for the sell side while demand is much higher. NCB  rose 19 cents and does not have much volume below $20 per share on the sell side, a sign that the price could rise some more.

Jamaica Broilers has strong buying interest and so does the Gleaner with more than 3 million on the bid at $1.20.

Market signs | The market is displaying signs of upward movements to come but it will have to close well over 87,000 points on the All Jamaica Index before we see signs of a sustainable rally. With the market closing today at 83,282, there are still some movements to go before realizing what could be a bull run.

The market traded $50,469,026.73 in local currency as well as US$9,577.70 in the US dollar market.

TTSE | WITCO jumps $7, market heading higher

West Indian Tobacco Company (WITCO) stock jumped $7.07 to end the day at a all time record of $107.07.

A volume of 1,314,293 shares traded on the main market valued at $5,530,257.06. Trinidad Cement accounted for 637,564 shares valued at $605,685.80, followed by Jamaica Money Market Brokers with a volume of 430,000 shares being traded for $215,000.  Angostura Holdings contributed 125,055 shares with a value of $1,125,495 and Neal & Massy Holdings added 40,177 shares valued at $2,370,443.

TTSEMay7Point Lisas Industrial Port Development Corporation suffered the day’s sole decline, falling $0.01 to end the day at $3.64 on a day when trading took place in 14 securities of which 6 advanced, 1 declined and 7 traded firm.

Clico Investment Fund was the only active security on the Mutual Fund Market, posting a volume of 230,253 shares valued at $4,854,228.71 while advancing 0.07 to end at $21.08.

Closing prices point to a higher market ahead | Clear signs of this can be seen from the number of stocks that have bids at the same level as the last traded price but more importantly there are 7 stocks where the bids are above the last traded price. The companies are Ansa Merchant Bank bid $38.51 last sale $38.50, Berger last sale $3.55 closing bid $3.58, Grace Kennedy, bid $3.31 last price $3.23, One Caribbean Media, $16.75 is the bid versus last price of $16.60, Scotia Investments last sale price $1.55 with the closing bid of $1.57, Scotia Bank which last sold at $69.27 now has a bid of $69.30  and West Indian tobacco which traded today at $107.07 with a closing bid of $110.

ForEx | J$ appreciation continues

In Tuesday’s foreign exchange trading, the value of the Jamaican dollar continued its appreciation as it took J$99.0056 to purchase a US dollar. At the end of Monday’s trade it took J$99.0276 to purchase one US dollar.

ForExSummaryMay7Sellers of the US dollar were better off on average than on Monday as they got J$98.53 for each US dollar they sold compared to $98.4189 on Monday. Sellers of Canadian dollars and Pound sterling were not as fortunate as they got 24 cents less for selling on Monday compared to Tuesday for the Canadian dollar and 15 cents less for selling the pound. It took just 4 cents less to purchase the Canadian dollars and 18 cents less for the Pound.

The equivalent of US$39.2 million, were purchased and US$39.97 million were sold, as increased liquidity continues to enter the market.

Market signals | Highest selling rate for the US was J$104 and the lowest J$83.26 while the highest buying rate for the US was J$99.2 and the lowest J$81.16. The selloff of foreign currency and appreciation of the local currency seems set to continue.

ForExDEtailsMay7

Daily Trading 6 May 2013

JSE Trading | Proven dominates again

Proven dominated trading again today as it did on Thursday last week. NCB Capital Market purchased nearly US$549,599 of the shares as 5,000,900 Proven’s ordinary shares changed hands, with the bulk of it, 5 million units, being sold by one of NCB Capital Market’s clients which they bought for their own account at US$0.1099 each. Proven also dominated in the preference share segment of the market with its 8% preference shares, trading 9,681,047 units valued at $48,708,793.93, as the stock slipped 6 cents, to close at $5.03. Data shows that NCBCM sold from their in-house portfolio to various clients.

Trading volume came in at 17,658,172 units with a value of $159,616,952.40.

JSEINdicesMay6Mayberry Investments sold 1.733 million Scotia Group shares from in-house plus 150,000 units on behalf of one of their clients in today’s trading as Scotia Group saw 2.411 million units trading with a value of $52.98 million. Jamaica Broilers saw trading in 266,098 units, with a value of $1.198 million. Sagicor Investments bought the bulk of the Scotia Bank shares apparently mostly for clients.

In contrast to Scotia, National Commercial Bank traded just 27,610 units at a value of $506,000 but Lasco Manufacturing traded 51,421 units valued at $555.4 million.

At the close the market, the All Jamaica Composite index gained 789.23 points closing at 83,274.18. The main market index, the JSE Index, closed up 448.64 at 84,259.73 points, the junior market index slipped 7.71 to 620.75 mainly due to 47 cent drop in Dolphin Cove shares to $7.92. Also contributing to the fall of this index was a 19 cents fall in Blue Power on 2,404 shares that traded and 10 cents off for Access Financial down to $7 and Consolidated Bakeries off 10 cents to $1.10.

Grace Kennedy gained 50 cents to close at $55.51 and Scotia Bank gained 69 cents to $21.99. Seven stocks closed the day with higher bids than the last selling price. These include Blue Power, Carreras, Ciboney, Dolphin Cove, Jamaica Producers, Kingston Properties and Scotia Investments.

Watch for further advances in the market in the trading days ahead is the message from the market.

TTSE Trading |  Republic Banks puts on $1

Republic Bank had the biggest day trading with an increase of $1.08 to end the day at $109.98.

In another moderate day of trading, 550,425 shares crossed the floor of the main market valued at $6,150,572.56. Angostura Holdings traded 430,897 shares (78 percent of shares trading) for a value of $3,878,073, followed by Point Lisas Industrial Port Development Corporation with 47,763 shares for $174,334.95. Sagicor Financial Corporation saw trading in 30,190 shares with a value of $208,317.70, while Neal & Massy Holdings added 24,164 shares valued at $1,425,676.00. Angostura Holdings suffered the day’s greatest decline, falling $0.50 to close at $9.00.

Clico Investment Fund traded 20,425 shares valued at $429,129.25 as the price declined by $0.11 to end at $21.01.

TTSEMay6Trading took place in 13 securities of which 2 advanced, 3 declined and 8 traded firm.  At the end of trading, there was only one stock with its bid above the last selling price. On Friday there were 5 stocks that closed above their last selling price.

ForEx Trading | FX sell off continues

Authorized dealers were selling the US dollar at JS$99.0276 on average on Monday, but they were paying $98.42 on average to purchase the funds from the public. The prices continued lower than the prior trading day, as was the case all of last week.

Purchases by the dealers amounted to US$41.2 million with sales exceeding purchases by over US$3 million when US$44.36 million were sold to the public. The imbalance between sales and purchases is unusual for Mondays which are normally days when purchases exceed sales. The out turn for Monday suggests that authorized dealers are selling off some of their portfolio. If so, rates could decline more on Tuesday as more sell off takes place.

ForExSummaryMay6Interestingly, while the averages are falling, that is not the case for the highest traded selling price which remains at $104.22 with the lowest settling at $82.66 according the daily Bank of Jamaica’s foreign exchange report. The highest buying rate came out at $99.30 and the low $81.16. Rates for the Canadian dollar also fell from Friday’s close while the Pound sterling rates were mixed, with selling being slightly higher than on Friday but the rate for purchasing was lower by $1.70.

ForExDEtailsMay6

Observers say FX market is liquid

ForEx trading as at Friday 4 May, 2013 | Sale of foreign exchange was greater than the amounts purchased, but the selling rate for the US dollar slipped yet again, in a two-week long appreciation of the beleaguered currency. The closing average rate of the US dollar against the Jamaican dollar is now down to $99.19 compared to yesterday’s $99.26, the currency sold for an average rate of $99.36 on Monday and is well off the low of J$99.81 reached on April 12th. The Jamaican dollar has appreciated every day this week.

Amounts traded | Authorized dealers purchased more funds today than on Thursday, US$34.14 million vs. $32.8 million, but sales amounted to $38.65 million. Only $26.54 million was sold on Thursday. Based on the trend seen from last week and evident all of this week, the currency may well end up below $99 to US$1 during next week. Where it will end? No one really knows, except may be central bankers?  One person within the financial system told ICInsider.com that some corporations and individuals have been squeezed holding the US dollar when Bank of Jamaica launched the index bond which sucked liquidity out of the market for Jamaican dollars.

What is really happening? |  ICInsider.com spoke to two persons within the financial sector who are in a position to say what’s going on. One said that corporate clients are no longer demanding FX as they did before since the announcement that the IMF board would be reviewing Jamaica’s application for funding. Individuals who had bought FX earlier are now offloading, fearing further revaluation of the Jamaican dollar. Even financial institutions are off loading into the market. Both respondents said that supply is adequate to meet demand as such persons are not rushing to buy now as they may purchase what they need later at a lower price.

Developments are really worth watching as liquidity returns to the market with far more positive sentiment that before April.

Daily Trading 3 May, 2013

JSE | Prices up for 15 stocks 

Stocks prices were on the up in today’s trading as advancing stocks outnumbered declining ones 3 to 1 and 15 stocks recorded gains ranging from a high of 30 cents to a low of 1 cent. Only 5 stocks declined between 40 cents to 1 cent. There was trading in 26 stocks overall. In spite of advancing stocks being dominant, the main market indices actually fell moderately with just the junior market and the combined indices moving up. The decline in the indices is based on the average prices the stock exchange uses in its computation. The changes reported here are based on the last selling prices of each stock.

Moved up | AMG Packaging moved up to $4.10 gaining $0.29, Barita gained 23 cents to close at 3.20, Blue Power moved up to $5.80 on a 30 cent move. National Commercial Bank gained 25 cents, and closed at $18.35, Paramount gained 20 cents to close at $3.20. Scotia group climbed 30 cents closing at $21.30.

Carreras slipped 40 cents to close at $55.40 and D&G 19 cents in closing at $4.11.

A total of 2,251,800 shares traded of which Cable & Wireless accounted for 1,196,164 units at a mere value of $7,396,967. Grace traded 50,375 units valued $2.77 million, Jamaican Teas traded 352,084 units valued at $1.4 million, Sagicor Life traded 74,470 units, valued at $566,676, Desnoes & Geddes traded 112,193 units valued at $461,113.

TTSEMay3+Grace is one of the eight stocks to close trading with a bid that is higher than the last selling price. It also closed the same way on the Trinidad market today and so has Carreras with a $56 bid versus the last sale at $55.60. Others with bids above the last sale price are Ciboney, Jamaica Producers, Lasco Distributors, Mayberry, Pan Jamaican, Scotia Investments.

TTSE | Slow market in T&T

In another day of slow trading on the Trinidad market, 6 securities traded. Two stocks advanced, 1 declined and 3 traded firm.

Sagicor Financial Corporation, the Barbados based company, accounted for the bulk of 165,679 shares traded in the market with a value of TT$1,715,841.10. The company traded 121,877 shares, valued at TT$841,051.30 and lost $0.09 to end the day at $6.90. Trinidad Cement traded a volume of 15,000 shares valued at TT$14,250. One Caribbean Media accounted for 15,000 shares with a value of TT$249,000, while Guardian Media saw 10,000 shares changing hands at a value of TT$197,500.

Clico Investment Fund enjoyed the day’s largest gain, increasing $0.12 to end the day at $21.12. Clico Investment Fund was the only active Mutual Fund, posting a volume of 299,358 shares valued at TT$6,322,506.10 as the price  advanced by $0.12 to end at $21.12.

The following stocks had bids that were higher than the last selling price. Ansa Merchant Bank, Berger, Grace Kennedy, Scotia Investments.

TTSEMay3+Real

ForEx Market | J$ continues appreciation

It took slightly less Jamaican dollars to buy a US dollar than it did yesterday, as the average selling price ended at J$99.26 in today’s trading. The appreciation comes against the back drop of the announced IMF agreement that was approved by the fund yesterday.

ForExSummaryMay3In yesterday’s trading, there were more selling of the currency than purchased by US$7.3 million. Today there was a US$6 million surplus of purchases over sales as purchases came in at US32.8 million while sales amounted to US$26.5 million. It also means that for the week-to-date, inflows into the market is almost equal with outflows. Last week the inflows and outflows were evenly matched.

The highest rates paid for US dollars in the market decreased somewhat according to the BOJ data. The highest buying rate fell to $99.40 and the highest selling was down to $104.22. The lowest selling rate was $82.66 and lowest buying $81.33.

ForExDEtailsMay3

Daily Trading 1 May 2013

JSE | Highest since February

The stock market reached its highest level since February 11 when measured by the all Jamaica composite index as it crossed over the 82,000 level. In the case of the main market index, Wednesday’s level was the highest since mid-March. But on one of the more lackluster days, there was a mere $9,166,322 expended in trading, as advancing stocks just outnumbered declining ones by 8 to 7.

JSEINdicesMay1

Stock gaining | Stocks with any noticeable movements were, Berger Paints up 31 cents, to close at $2.26, a day after the company announced that the CEO Warren McDonald would be retiring shortly. Investors snapped up 33,112 of the company’s shares between $1.97 and $2.26. Carreras inched up 83 cents, to close at $55.03 with 17,078 units trading. Lasco Manufacturing climbed 90 cents to $11.05 with a mere 1,700 units trdingand Lasco Financial moved to a new 52 weeks high at $7.60 on moderate volume, Supreme Ventures gained back 10 cents it lost on Tuesday, to close at $2.60 with just 19,000 shares trading. General Accident gained 4 percent to close at $1.70 on the 184,887 shares that traded, between $1.65 and $1.70.

Stocks Losses | Consolidated Bakery, bakers of Purity and Miss Birdie brand of baked products, fell 40 cents to $1.20 with only 300 units sold, as interest in the stock fell away when the company released final year 2102 results that showed a sharp drop in profits, compared with 2011. The company had reported $3.7 million after tax profit compared to $12.8 million in 2011, before gain from disposal of shares. The stock looks set to fall some more unless the first quarter results, which are due in another two weeks, come out early and show positive growth in earnings that could change investor sentiment to the stock.

Stocks in demand | While levels of stocks trading on Wednesday was low, there were 9 companies stocks that had bids higher than their last selling prices, a bullish indicator. These companies include Blue Power, Desnoes & Geddes, Mayberry, Lasco Distributors, Sagicor Investments, Jamaica Producers, Pan Jamaican, Scotia Investments and KLE Group, a company that provides entertainment and restaurants services, that fell to $2.75 at the last traded price, well below the IPO price of $3.70.

TTSE | Witco Jumps to TT$100

West Indian Tobacco Company hit a record TT$100 in today’s trading on the TT Stock Exchange with the largest gain on the market as it increased $2.93 to end the day’s trading. At the end of 2012 the stock traded at $85. Scotia Bank gained 21 cents to land at $69.24 and is up from the December 2012 close of $65.51 while Sagicor Financial gained 14 cents and closed at $7. All three traded below 750 shares each.

A total of 400,834 shares crossed the floor of the Exchange with a value of $3,204,224.37 as 12 securities traded during the day with 6 advancing, 2 declining and 4 trading firm.

TTSEMay1

Angostura Holdings traded 233,615 shares to be the market leader, the value of the shares traded was $2,128,611.97 but the stock fell 39 cents to close $9.11, this was followed by Trinidad Cement with a volume of 137,331 shares valued $137,331.00. National Enterprises contributed 12,576 shares with a value of $196,185.60, while Republic Bank added 6,144 shares valued at $669,081.60.

Clico Investment Fund was the only active security on the Mutual Fund Market, posting a volume of 45,170 shares valued at $948,930.93 and advanced by $0.01 to end at $21.01. Fortress Caribbean Property Fund which last traded at $5.00 did not trade as did Praetorian Property Mutual Fund that last traded at $3.40. There was no activity in the Second Tier Market.

ForEx | J$ revaluation continues

ForExSummaryMay1The rate of exchange between the US and Jamaican dollars continued to inch down, even as the amount of US dollars sold in the system in the last two days exceed the amount purchased by authorized dealers. The average selling rate, fell to J$99.3286 from $99.3481 on Tuesday and $99.36 on Monday. Both the amount of funds purchased US$29.3 million by the dealers and that sold, US$36.6 fell on Wednesday by US$16 million on the buying side and US$18 million on sell side, compared to Tuesday’s trade. The rate of exchange has appreciated from a low of J$99.81 on April 12th.

Interestingly, the currency was sold between $104.27 to a low of $81.49 while the highest price paid for purchase was $99.70. On Tuesday sale took place between $104.27 to a low of $96.4 while the highest price paid for purchase was $99.50 to a low of $81.37.

Too early to say | While the Jamaican dollar has been slowly appreciating since last week, it is too early to say where it will end in the short term. The government announced on Wednesday that the IMF agreement was signed off by the IMF board and will release almost US$200 million for the central bank’s reserves. The amount is not large, but there are more flows that will be coming in during the year that could result in further appreciation of the local currency. Persons who bought FX for investment purposes could well be offloading some into the market if the daily rate shows signs of the currency appreciating for a number of days to come.

ForExDEtailsMay1

Treasury Bills | TBill rates climbed in April

BankofJamaicaBOJIn March, the average yield for the 90 days was 5.82488 percent but bids up to 6.24999% were successful as only $338.7 billion chased after the $400 million on offer. In April, things changed a lot with the average yield climbing nearly 86 basis points to average out at 6.68297 percent. This took place against the background of a 41 percent oversubscription coming against the fall in rates in March when there were less bids for the amount on offer. Allotment was made for successful bids between a low of 5.15 percent and a high of 7.1 percent per annum.

The six issues fared better as average yield climbed a bit moving up to 6.389 percent compared to what the six months bill yielded in March when the yield came out at an average of 6.22345 percent per annum. But while in March the range was 5.50% to 6.65310, only $196 million went after the $400 million on offer, The April auction had 708 million seeking to capture some of the $400 million offer but bidders were successful in garnering between 5.4 percent and 6.65 percent for this instrument. In March, a 30 day treasury bill was oversubscribed by $58 million with yields between 4.5 percent & 6.1 percent.

Daily Trading 30 April 2013

JSE | Lasco Companies dominate Tuesday’s trade

The Jamaican stock market index climbed today with the JSE market index closing up 436.63 points to end trading at 83,476.38. The all Jamaica composited closed at 81,895.10 up 768.89 points and JSE combined gained 379.09 points closing the day at 84,917.24. The junior market index slipped 8.47 points dragging the overall junior market down to 617.18.  The overall market traded 7,166,418 units valued at $65,136,584.80.

Winners | Price movements were a little more pronounced that in recent trading sessions with JMMB jumping $0.86 to close at $8 as the stock traded 48,510 units, at close the bid was not strong at $7.10. Scotia Group recovered from yesterdays fall in putting on 50 cents to close at $21. Grace Kennedy having gained new life with Grace’s announcement to buy shares in the market rose yet again to close at $55.02 up 47 cents for the day on top of the gain on Monday.

Losers | Seprod shed 44 cents with a mere 769 units trading to close at $14.56, Supreme Ventures shed another 9 cents today to land it at $2.50 having traded at $2.75 on Friday last. Sagicor Life fell by 49 cents to close at $7.70 with 35,261 units trading on the day.

 JSEINdicesApr30

Kingston Wharves traded at $6 gaining 10 cents during the day, a twelve months high. The shares are tightly held and there is clearly upward pressure on the price, which seems likely to go higher. Barita lost 28 cents to close at $2.97 with 5,000 shares changing hands.

Junior market | Lasco Distributors with 1,597,000 shares trading at a value of $15.3 million changed hands today between $9.55 and $10.01 the stock closed down 41 cents at $9.59 and Lasco Manufacturing traded 4,512,900 units valued at $46.6 million between $10.10 and $11.05 closing the day at $10.15 own

The Lasco Manufacturing block was sold by Stocks & Securities with Mayberry picking up 1,009,100 units, NCB capita markets buying 3.167 million units, JMMB taking 146,833 units and 141,000 being crossed by Stocks & Securities. Stocks & Securities was the major seller of Lasco Distributors and NCB Capital markets the main buyer.

Bids above last sales | The following stocks had bids above their closing prices: this is usually an indication that prices will rise. These include Berger Paints, Carreras, Desnoes & Geddes, Ciboney, Jamaica Producers, Mayberry, Sagicor Investments and Scotia Investments.

TTSE | Cement continues domination

Cement continues domination on the TTSE when the Cement Group traded 967,380 shares with a value of TT$967,380.

Market activity saw trading in 14 securities of which 8 advanced, 2 declined and 4 traded firm while the total volume of shares traded was 1,028,095 valued at TT$2,075,106.23.

TTSEApr30

Trinidad Cement was followed by Angostura Holdings with a volume of 26,000 shares, valued at TT$247,000. National Enterprises Limited contributed 24,718 shares with a value of TT$385,506.58, while Republic Bank contributed 3,121 shares to the total, valued at TT$339,898.61.

Angostura Holdings was the day’s largest gainer, increasing $0.50 to end the day at $9.50 while Ansa Merchant Bank,  suffered the day’s greatest loss, falling $1.50 to close at $38.50.

Clico Investment Fund was the only active security on the Mutual Fund Market, posting a volume of 145,943 shares valued at $3,064,985.90. Clico Investment Fund declined by $0.19 to end at $21.00. FORTRESS CARIBBEAN PROPERTY FUND remained at $5.00. Praetorian Property Mutual Fund remained at $3.40.

The Second Tier Market did not witness any activity. Fncu Venture Capital Company (Suspended) remained at $1.00. Mora Ven Holdings remained at $14.97.

ForEx Trading | Summary

ForExSummaryApr30

Foreign exchange trading jumped today as Central Bank data shows US$45.3 million US dollars being bought by authorized dealers while they sold nearly $55 million. The average selling rate was J$99.348 almost the same as on Monday when the rate was J$99.36. Last week Tuesday buying was under $40 million while sales were just above it. On Monday, trading amounted to the equivalent of US$42.6 million of purchases, while US$34.75million was sold.

ForExDEtailsApr30

 

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