JSE 2,940 points intraday gains melt to 240
The JSE Market Index rose 214.68 points to 151,684.04, the all Jamaica Composite Index gained 239.92 points to end at 168,471.77 and the JSE combined index gained 418.68 points to close at 159,633.58.
At the close, 5,096,460 units valued at $149,875,337 changed hands in all markets with the junior market accounting for of 1,801,000 units changed hands, valued at $7,668,101. Trading was broad based with a total of 44 securities being active in all market segments. Of the stocks trading 17 in the combined markets gained and 8 declined. Five stocks traded at 52 weeks’ closing high and 2 at intraday 52 weeks’ high as investors’ continue to push prices higher.
The main market was facing resistance around the 165,000 points level, on the all Jamaica composite index, now that it has crossed it and seems to be moving away, this level appears to be gathering strength to offer support for the market.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 16 stocks with bids higher than their last selling prices and 8 with lower offers.
In trading, Berger Paints ended with 27,839 shares trading at $3.15 for a loss of 5 cents, Cable and Wireless rose 2 cents with 88,799 units changing hands to close at $1.40, but the stock was on offer at $1.35 at the close. Caribbean Cement dropped 94 cents to end at $19.50, with 5,019,013 shares trading, Carreras closed at $60.85, with 1,640 units changing hands for a rise of 85 cents, Desnoes and Geddes traded 136,442 shares but closed down 95 cents to $29.05, Gleaner Company traded 20,000 shares at $2.05 with a 35 cents gain. Grace Kennedy with 11,249 units changing hands, finished 20 cents higher at $84.20, Jamaica Broilers fell 5 cents and closed at $10.45 with 34,091 shares changing hands, Jamaica Producers traded 2,141 shares to end at $32, Jamaica Stock Exchange fell 39 cents while trading 42,101 shares to close at $18.60. JMMB Group traded 331,521 units and rose 25 cents to end at $10.45, Kingston Wharves traded 21,296 units at $11.35, Mayberry Investments had 33,628 units changing hands for $4.35, National Commercial Bank gained 8 cents to end at a 52 weeks’ high of $40.58, with 26,683 units changing hands. 138 Student Living had 138,798 units trading at $4.60 after rising to an intraday high of $4.70, Radio Jamaica had 215,062 shares trading with a gain of 92 cents to end at $5, but with 211,797 units selling for $4.20 and lower. Sagicor Group rose 19 cents to close at a 52 weeks’ high of $20.19 with 3,200 units changing hands, after it traded as high as $22. Scotia Group had 92,420 shares changing hands at $30.01 and Supreme Ventures ended at $4.66 with 76,838 units changing hands and Jamaica Money Market Brokers 7.50% preference share traded 15,947 units to end at $1.98.
JSE starts 2016 on a new high
At the close, 5,096,460 units valued at $149,875,337 changed hands in all markets with the junior market accounting for of 1,707,388 units, valued at $6,741,784. A total of 35 securities traded in all market segments, 17 of which in the combined markets gained and 8 declined. Five stocks traded at 52 weeks’ closing high and 2 at intraday 52 weeks’ high as investors continue to push prices higher.
The main market was facing resistance around the 165,000 points level, the on the all Jamaica composite index, now that it has crossed it and seems to be moving away. This level appears to be moving towards support for the market.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 11 stocks with bids higher than their last selling prices and 2 with lower offers.
In trading, Berger Paints ended with 85,100 shares trading at $3.15 for a loss of 5 cents, Cable and Wireless rose 8 cents with 212,690 units changing hands to close at $1.38, Caribbean Cement climbed 54 cents to end at $20.44, with 10,000 shares trading. Carreras closed at $60, with 2,261,300 units changing hands for 82 cents fall but not until after it traded at a new 52 weeks’ intraday high of $62, Gleaner Company traded 52,000 shares at $1.70 with a 40 cents increase. Grace Kennedy with 2,483 units changing hands finished $2.75 higher at $84, Jamaica Broilers rose 25 cents and closed at $10.50 with 124,677 shares changing hands, Jamaica Producers traded 1,000 shares to end at $32, after rising $1.32, Jamaica Stock Exchange gained 39 cents in trading 1,400 shares at $18.99, National Commercial Bank gained 50 cents to end at a 52 weeks’ high of $40.50, with 12,145 units changing hands. 138 Student Living had 260,933 units trading at a 52 weeks’ high of $4.60 after rising by 10 cents, Radio Jamaica had 51,000 shares trading with a gain of 42 cents to end at $4.08, Sagicor Group closed at $20 with 24,426 units changing hands, Scotia Group had 36,809 shares changing hands at $30.01. Seprod closed with a loss of 44 cents at $20.56 with 2,938 shares trading, Supreme Ventures ended at $4.66 with 208,363 units changing hands and Jamaica Money Market Brokers 7.25% preference share traded 26,000 units to gain 4 cents and ended at $2.06.
Dividend triples for H&L owners
Shareholders of Hardware Lumber (HL) will be paid an interim dividend for the year 2015 of One Dollar and Nine cents per stock unit on January 29, this year, to shareholders on record as at the close of business on January 15.
The ex-dividend date for the payment is the January 13. The company paid 32 cents per share in dividends in 2014 and 30 cents in 2013.
The payment comes against the background of lower profits in the year to September and acquisition of the majority shares by a group of investors.
Total revenue for the nine months to September 2015 was $5.37 billion or 2.3 percent more than the comparative period in 2014. Profit after tax for the nine-month to September 2015 was $64 million, 43 percent less than the $113 million for the same period in 2014 and earnings per share of 79 cents, compared to $1.40 for the similar period in 2014.
On Thursday December 30, Grace Kennedy’s 58.15 percent interest amounting to 47,013,417 shares in Hardware & Lumber, were traded over the Jamaica Stock Exchange at $18.50 each.
The shares were bought by Argyle Industries Inc. (“Argyle”) a St. Lucian Company special purpose vehicle incorporated for the purpose of acquiring and holding the Investor’s equity interests in Hardware & Lumber.
TTSE ends 2015 mixed
The last trading day of 2015 saw mixed fortune for the Trinidad and Tobago Stock Exchange with 2 stocks rising and 2 declining as the market closed with 10 active securities with the prices of 6 remaining unchanged. A total of 285,623 shares changed hands valued at $826,260.
The Composite Index ended with a gain of 0.44 points to 1,162.30, the All T&T Index fell 0.05 points to 1,948 50 and the Cross Listed Index rose 0.12 points to end at 49.51.
IC bid-offer Indicator| At the end of trading there are signs that the number of stocks gaining could rise with IC Bid indicator showing an increase number of stocks with higher bids than in recent trading days. The Investor’s Choice bid-offer indicator had 6 stocks with bids higher than the last selling price and 6 stocks with offers that were lower.
Gains| JMMB Group gained 2 cents in trading 235,000 shares to close at 55 cents and Trinidad and Tobago NGL gained 7 cents, to end at $21.50 with 25,000 shares changing hands valued at $537,500.
Declines| Scotiabank closed with 500 shares changing hands with a 1 cent loss to end at $61.94 and Trinidad Cement closed with a loss of 1 cent at $3.99 with 100 shares changing hands.
Firm Trades| Trading in First Citizens ended with 939 units changing hands to close at $35, Grace Kennedy had 7,212 units changing hands at $4.05, Guardian Holdings ended with 260 shares trading at $13.25. National Commercial Bank closed at $2.10 while trading 14,610 shares and National Flour Mills contributed 300 shares in closing at $2.70 and Sagicor Financial Corporation traded 372 shares and closed at $6.20
Grace Kennedy sells H&L interest
Grace Kennedy has sold its 58.15 percent interest in Hardware & Lumber (H&L) with the shares traded over the Jamaica Stock Exchange floor today by broker – GK Capital Management in the amount of 47,013,417 shares at $18.50 each.
The shares are sold to, Argyle Industries Inc. (“Argyle”) a St. Lucian Company special purpose vehicle incorporated for the purposes of acquiring and holding the Investor’s equity interests in Hardware & Lumber. The investors in Argyle include a group of investors led by, ABBECO INVEST S.A. ( a Bahamian investment company), Sterling Asset Management along with its affiliates and associates and Greystone Equity Partners Inc. along with its affiliates and associates a release from Grace Kennedy said.
Grace Kennedy Group CEO, Don Wehby, stated “As previously indicated GraceKennedy’s decision to sell our shares in H&L was not an easy one, however, this divestment is consistent with our present strategy of concentrating on the food business locally and internationally and financial services in the region.” He added, “I feel very positive about the continued growth of H&L under the prospective new owners, Argyle, who are excited about the possibilities for the future.”
H&L comprises the Rapid True Value and the Agro Grace business. There are currently 10 Rapid True Value outlets across Jamaica, along with six Agro Grace Retail Centres. The company is headquartered at in Kingston.
The buyers will be required to make an offer to buy the remaining shares at the same price of $18.50.
Quiet day on TTSE – Tuesday
The Trinidad and Tobago Stock Exchange continued trading on the last week of 2015 on a subdued but mixed note, with only 7 active securities. At the close the prices of 2 stocks rose, 2 declined and 3 remained unchanged as 80,119 shares changed hands valued at $1,213,579.
The Composite Index ended with a fall of 0.13 points to 1,159.90, the All T&T Index gained 0.02 points to 1,947.80 and the Cross Listed Index fell 0.04 points to end at 48.95.
IC bid-offer Indicator| At the end of trading there are signs that the number of stocks gaining could rise with IC Bid indicator showing an increase number of stocks with higher bids than in recent trading days. The Investor’s Choice bid-offer indicator had 9 stocks with bids higher than the last selling price and 6 stocks with offers that were lower.
Gains| Trinidad and Tobago NGL closed with a gain of 1 cent to end at $21.01 with 5,928 shares changing hands and West Indian Tobacco gained 1 cent with 4,528 units changing hands to close at a new 52 weeks’ high of $126.27 valued at $571,751.
Declines| Grace Kennedy lost 5 cents with 60,245 units changing hands at $4.01, Massy Holdings ended with a loss of 1 cents at a 52 weeks’ low of $61.45 while trading 779 shares.
Firm Trades| Trading in First Citizens ended with 6,019 units changing hands to close at $35, One Caribbean Media traded 88 shares with the price remaining at $22 and Sagicor Financial Corporation traded 2,532 shares at $6.10.