Junior Market inches higher on Wednesday

Stocks mostly rose after a trading 63 percent fewer shares on Wednesday than Tuesday at the close of the Junior Market of the Jamaica Stock Exchange, with the market index inching a few points higher.
Trading ended with 28 securities changing hands, down from 35 on Tuesday and concluded with the prices of 18 stocks rising, four declining and six remaining unchanged.
At the close, the Junior Market Index advanced 9.22 points to settle at 2,723.60. The average PE Ratio ended at 14.3 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 4,652,136 shares for $13,253,906 compared to 12,674,893 units at $24,808,257 on Tuesday.
Mailpac Group led trading with 21.9 percent of total volume with a transfer of 1.02 million shares, followed by Derrimon Trading with 19.7 percent and 916,164 units and Lasco Distributors with 17.9 percent accounting for 832,284 shares.
Trading averaged 166,148 units at $473,354 in contrast to 362,140 at $708,807 on Tuesday. Trading month to date averaged 231,831 units at $553,870, versus 236,210 units at $559,238 on Tuesday. December closed with an average of 263,428 units at $638,694.
Investor’s Choice bid-offer indicator reading shows three stocks ended with bids higher than their last selling prices and five with lower offers.
At the close of trading, Blue Power dropped 24 cents to $2.95 in exchanging 10,251 shares, Caribbean Cream rose 9 cents to $4.59 with 100,390 changing hands, Caribbean Flavours lost 5 cents to end at $1.60 with a transfer of 12,313 units. Caribbean Producers gained 4 cents to finish at $2.82 with 119,500 shares traded, Consolidated Bakeries advanced 30 cents to $1.65 with one stock unit changing hands, Everything Fresh rose 4 cents to 74 cents with an exchange of 272 stocks. Express Catering rose 4 cents to $3.49 with 30,651 units passing through the market, Fontana dropped 20 cents to $5.60 with a transfer of 60,513 shares, Fosrich climbed 24 cents to $4.44 with 5,000 stocks traded. Indies Pharma advanced 19 cents to $2.69 with 126,118 units changing hands, Jamaican Teas increased by 6 cents and exchanged 653,810 stock units to finish at a 52 weeks’ high of $2.85, Knutsford Express advanced 15 cents to $6.75 with a transfer of 6,000 units, Lasco Manufacturing dropped 17 cents to $3.90 with 11,060 shares changing hands. Limners and Bards gained 10 cents to end at $2.70 with 4,426 units passing through the market, Lumber Depot advanced 17 cents to $1.71 with a transfer of 421,288 stock units, Mailpac Group exchanged 1,016,948 stocks and rose 9 cents to settle at $3.69. Paramount Trading increased by 14 cents to finish at $1.44 with 85 shares changing hands and Stationery and Office Supplies climbed 23 cents to $4.35 with a transfer of 30,685 units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

More gains for Junior stocks

Stocks pushed higher in trading on Monday to post year to date gains of just over three percent, with the Market Index increasing 22.89 points to 2,725.48 as the Junior Market of the Jamaica Stock Exchange closed after rising stocks exceeded declining ones.
Trading ended with 37 securities changing hands compared to 35 on Friday, with prices of 14 stocks rising, 13 declining and 10 remaining unchanged. Jamaican Teas and Mailpac ended at record closing highs.
The average PE Ratio ended at 13.9 based on ICInsider.com forecast of 2020-21 earnings.
The market closed with an exchange of 13 percent fewer shares with 32 percent lower value than on Friday as 9,478,771 shares traded for $18,322,788, down from 10,923,530 units at $27,075,114 on Friday.
Tropical Battery led trading with 50.2 percent of total volume for 4.76 million shares followed by Jamaican Teas with 15.2 percent for 1.44 million units and Derrimon Trading with 1.15 million units for 12.2 percent market share.
Trading averaged 256,183 units at $495,210, in contrast to 312,101 at $773,575 on Friday. Trading month to date averaged 224,762 units at $545,641, compared to 221,421 units at $551,003 on Friday. December closed with an average of 263,428 units at $638,694.
Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and five with lower offers.
At the close of trading, Blue Power lost 9 cents ending at $2.81, in exchanging 15,922 shares, Caribbean Assurance Brokers gained 6 cents to close at $1.86 trading 13,665 stock units, Caribbean Cream shed 40 cents to finish at $4.30, with investors swapping 7,800 units. Caribbean Flavours rose 5 cents to $1.65, after a transfer of 24,204 stocks, Caribbean Producers closed at $2.61, with a loss of 14 cents, in exchanging 68,474 shares. Express Catering ended 21 cents lower at $3.55, with the swapping of 12,913 stocks, Fontana shed 30 cents to end at $5.40 trading 238,408 shares, General Accident rose 12 cents to $6.37, in swapping of 500 units, Honey Bun shed 5 cents to close at $5.54, with 3,600 shares changing hands. Indies Pharma gained 5 cents to close at $2.50, after 38,684 stock units, crossed the market, ISP Finance advanced by $3.39 to $22.89, and transferred 5,000 shares, Jamaican Teas rose 29 cents to $2.77, with an exchange of 1,444,299 stock units, Lasco Distributors closed 22 cents higher at $3.40, in clearing the market with 118,975 shares. Limners and Bards slipped 20 cents to $2.62 after trading 50,000 units. Lumber Depot gained 13 cents in ending at $1.59, after switching ownership of 38,266 stock units, Mailpac Group rose 15 cents to $3.90, with an exchange of 798,398 shares, Medical Disposables closed at $4.22, after gaining 12 cents transferring 57 stock units. Stationery and Office Supplies slid 44 cents to $4.10, with 31,308 units crossing the market, Tropical Battery slipped 12 cents to $1, trading 4,760,765 shares after the company posted audited accounts showing profit falling to just $29 million from $73 million based on the interim, full-year results. tTech lost 5 cents to close at $4.10, with 29,396 units crossing the exchange.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Junior Market ends firm on Tuesday

Modest gains recorded at the start of trading on Tuesday and lasting for most of the day dissipated in the fading minutes of the Junior Market activity, with the index closing flat after more stocks fell than rose as 45 percent more shares traded than on Monday.
Trading ended with 39 securities changing hands compared to 38 on Monday and concluded with the prices of 12 stocks rising, 16 declining and 11 unchanged.
The Junior Market index was unchanged at 2,636.45 points. The average PE Ratio ends at 13.9 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 4,103,575 shares for $9,392,768 compared to 2,824,415 units at $7,700,599 on Monday. Mailpac Group led trading with 34.4 percent of total volume with a transfer of 1.41 million shares, followed by Lumber Depot with 17.2 percent after an exchange of 706,081 units and Derrimon Trading with 12.7 percent market share or 522,336 units.
Trading averaged 105,220 units at $240,840 compared to 74,327 at $202,647 on Monday. Trading month to date, averaged 274,968 units at $665,002, versus 284,894 units at $689,804 on Monday. November closed with an average of 193,331 units at $566,885.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close of the market, Access Financial climbed 25 cents to $23.94 with 84 shares traded, AMG Packaging fell 5 cents to $1.60 with 109,342 units changing hands, Caribbean Cream slipped 1 cent to  $4.19 with 35 stocks changing hands. Caribbean Flavours rose 3 cents to $1.70 with an exchange of 142,855 stock units, Caribbean Producers gained 6 cents to close at $2.85 with a transfer of 119,500 shares, Consolidated Bakeries increased by 4 cents to $1.39 with 10,000 stocks traded. Elite Diagnostic lost 9 cents to finish at $2.86 with 545 units passing through the market, Everything Fresh rose 4 cents to 73 cents with 84,260 stock units changing hands, Fontana rose 10 cents to $5.60 with 44,901 shares exchanged. Fosrich gained 6 cents to settle at $4.16 with a transfer of 4,501 units, General Accident lost 6 cents to close at $5.99 with 7,673 stocks traded, Honey Bun dropped 10 cents to $5.70 with a transfer of 80,495 stock units. iCreate finished 1 cent higher at 60 cents with investors switching ownership of 17,664 shares, Indies Pharma fell 6 cents to $2.66 with 7,434 units passing through the market, Jamaican Teas declined by 2 cents and traded 324,771 stock units to end at $1.97. Jetcon Corporation dropped 14 cents to close at a 52 weeks’ low of 56 cents, with 132,806 stocks changing hands, Knutsford Express rose by 10 cents to $6.80 with an exchange of 8,157 shares, Lasco Distributors fell 14 cents to $3.08 with a transfer of 5,500 units. Lasco Financial slipped 6 cents to $2.70 with 2,614 stocks passing through the market, Lasco Manufacturing slipped 1 cent to $3.88 with 1,152 stock units traded, Limners and Bards advanced 11 cents to $3.14 trading 52,754 shares. Mailpac Group exchanged 1,412,146 stocks and gained 1 cent to settle at $2.79, Main Event climbed 40 cents to $3.39 with a transfer of 4,613 units, SSL Venture declined by 2 cents to 55 cents with 12,202 stock units changing hands. Stationery and Office Supplies shed 20 cents to finish at $4.30 with 1,760 stocks traded and Tropical Battery slipped 4 cents to $1.12 with 160,687 shares crossing the exchange.
In the preference segment, CAC 2000 9.5% declined by 1 cent to end at $1.11 with a transfer of 608 stock units and Derrimon Trading preference share fell 10 cents to $2 with 19,163 units changing hands.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

More slippage for Junior Market on Wednesday

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Declining stocks beat out rising ones leading to a modest fall in the market index for a second day on the Jamaica Stock Exchange Junior Market at the close on Wednesday, as 43 percent fewer shares traded than on Tuesday.
Trading ended with 40 securities changing hands, up from 37 on Tuesday, closing with prices of 15 stocks rising, 18 falling and seven remaining unchanged.
At the close, the Junior Market Index declined by 1.98 points to settle at 2,566.75. The average PE Ratio ended at 13.9 based on ICInsider.com’s forecast of 2020-21 earnings.
Trading accounted for 4,707,073 shares for $11,350,211 versus 8,230,022 units at $21,433,604 on Tuesday. Lumber Depot led trading with 18.4 percent of total volume or 864,828 shares, followed by Mailpac Group with 13.3 percent after a transfer of 626,578 stock units and Caribbean Producers with 10.4 percent market share for an exchange of 491,823 units.
Trading averaged 117,677 units at $283,755 in contrast to 222,433 at $579,287 on Tuesday. Month to date averaged 308,140 units at $744,848, down from 321,842 units at $778,020 on Tuesday. November averaged 193,331 units at $566,885.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close of trading, Access Financial rose 10 cents to $20.60 in exchanging 2,270 shares, Blue Power jumped 54 cents to $3.29 with a transfer of 605 stocks, CAC 2000 dropped $2 to $8 with 2,760 stock units changing hands, Caribbean Assurance Brokers rose 4 cents to $1.89 with 500 units traded, Caribbean Cream slipped 3 cents to $4.46 with 200 shares crossing the market, Caribbean Flavours gained 4 cents to settle at $1.69, trading 121,491 stocks. Caribbean Producers exchanged 491,823 units and increased 5 cents to end at $2.80, Derrimon Trading dipped 10 cents to $2.30 with a transfer of 333,993 stocks, Dolphin Cove advanced 15 cents to $7.45 with 3,800 units changing hands, Elite Diagnostic fell 13 cents to $2.86 with 151,411 stock units traded, Everything Fresh slipped 9 cents to 65 cents with 21,581 shares passing through the market, Express Catering climbed 27 cents to $3.77 with investors switching ownership of 7,123 units. Fontana lost 8 cents to finish at $5.40, exchanging 235,128 stock units, Fosrich declined by 5 cents to end at $4.15 with a transfer of 7,079 shares, General Accident rose 1 cent to $5.99 with 152,121 units changing hands. GWest Corporation slipped 3 cents to 70 cents with 2,855 stock units traded, Honey Bun dipped 10 cents to $6 with 50,272 stocks passing through the market, iCreate fell 3 cents to 61 cents with investors switching ownership of 103,335 units. Indies Pharma lost 2 cents to settle at $2.72 with 735 stocks changing hands, Iron Rock Insurance jumped 57 cents to $3.77 with a transfer of 12,283 shares, Jamaican Teas slipped 10 cents to $1.90 with 381,673 stock units changing hands. Jetcon Corporation declined 6 cents to end at 71 cents with 326,592 units traded, Knutsford Express advanced 15 cents to $6.65 with 10,774 shares passing through the market, Lasco Distributors dropped 19 cents to $3.06 with investors switching 16,501 stocks. Lasco Financial slipped 1 cent to $2.76 with a transfer of 11,500 stock units, Lasco Manufacturing fell 12 cents to $3.68 with an exchange of 12,000 units, Limners and Bards closed 1 cent higher at $2.88 with 309,488 shares changing hands. Mailpac Group traded 626,578 stocks and increased by 3 cents to settle at $2.79, Main Event jumped 35 cents to $3.40 with 26,037 units passing through the market, Medical Disposables lost 3 cents to finish at $4.24 with investors trading 15,000 shares. SSL Venture rose 6 cents to 57 cents with 250 stock units changing hands, Tropical Battery slipped 1 cent to $1.15 with 389,844 stocks changing hands and tTech lost 1 cent to end at $4.20 with 2,000 shares crossing the exchange.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Junior Market index pulls back

Rising Junior Market stocks beat out of declining ones for a second consecutive the Jamaica Stock Exchange trading session on Tuesday, but the market index fell after investors transferred 131 percent more shares, with a consideration that was 95 percent more than on Monday.
Trading ended with 37 securities changing hands compared to 35 on Monday and finished with the prices of 15 stocks rising, 13 declining and nine remaining unchanged.
At the close, the Junior Market Index fell 23.94 points to settle at 2,568.73. The average PE Ratio ended at 13.8 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 8,230,022 shares for $21,433,604 versus 3,562,074 units at $11,265,090 on Monday.
Lasco Distributors led trading with 60 percent of total volume with a transfer of 4.94 million shares, followed by Lumber Depot with 19.9 percent of the day’s trade for an exchange of 1.64 million units and Jamaican Teas with 5.9 percent market share or 487,334 units.
Trading averaged 222,433 units at $579,287 in contrast to 101,774 at $321,860 on Monday. The month to date averaged 321,842 units at $778,020, compared to 328,929 units at $792,188 on Monday. November averaged 193,331 units at $566,885 trading.
Investor’s Choice bid-offer indicator reading shows five stocks ended with bids higher than their last selling prices and two with lower offers.
At the close of trading, Access Financial advanced 15 cents to $20.50 with 1,307 shares changing hands, Caribbean Assurance Brokers slipped 4 cents to $1.85 with an exchange of 7,250 units, Caribbean Cream lost 1 cent to settle at $4.49 with a transfer of 1,500 stocks. Caribbean Producers rose 5 cents to $2.75 with 6,865 stock units passing through the market, Derrimon Trading gained 10 cents in an exchange of 142,868 shares to close at $2.40, Dolphin Cove climbed 30 cents to $7.30 with investors switching ownership of 71 units. Express Catering dropped 29 cents to $3.50 trading 33,681 stocks, Fontana  ended 1 cent lower at $5.48 with 64,697 stock units changing hands, Fosrich gained 2 cents to finish at $4.20 with a transfer of 32,500 shares. GWest Corporation rose 3 cents to 73 cents with 28,428 stocks crossing the market, Honey Bun advanced 14 cents to $6.10 with an exchange of 3,316 units, iCreate closed 1 cent higher at 64 cents with 74,246 stock units changing hands. Indies Pharma lost 2 cents to settle at $2.70 with a transfer of 69,211 shares, ISP Finance dropped $3.47 to $19.50 with an exchange of 8,500 units, Jamaican Teas traded 487,334 stock units and gained 7 cents to finish at $2. Jetcon Corporation fell 3 cents to 77 cents with 1,300 stocks changing hands, Knutsford Express dropped 20 cents to $6.50 with a transfer of 822 shares, Lasco Distributors exchanged 4,941,741 stock units, increasing by 5 cents to $3.25. Lasco Financial rose 2 cents to $2.77  with an exchange of 2,952 units, Lasco Manufacturing increased 5 cents to $3.80 trading 1,130 stock units, Limners and Bards gained 1 cent to end at $2.87 after an exchange of 89,119 shares. Lumber Depot traded 1,636,225 stocks and added 8 cents to settle at $1.56, Mailpac Group fell 6 cents to $2.76 with 250,067 stock units changing hands,  Main Event advanced 5 cents to $3.05 in exchanging 4,876 units. SSL Venture lost 6 cents to close at 51 cents with a transfer of 24,635 shares, Tropical Battery slipped 1 cent to $1.16 with 154,479 units changing hands and tTech dropped 9 cents to $4.21 with 37,100 stocks crossing the exchange.
In the preference segment, CAC 2000 9.5% lost 3 cents to end at $1.10 with 119 stock units changing hands.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Junior Market pulls back on Tuesday

The market index surged sharply on Monday, but the Junior Market of the Jamaica Stock Exchange could not build on those gains in Tuesday activity and slipped 13.24 points to 2,578.31, with more stocks rising than falling as investors exchanged 74 percent fewer shares than on Monday.
Trading ended with 34 securities changing hands compared to 38 on Monday and concluded with the prices of 14 stocks rising, 11 declining and nine finishing unchanged. At the close, the average PE Ratio ended at 13.7 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with 3,559,517 shares trading for $10,255,036 compared to 13,471,646 units at $33,806,568 on Monday as Mailpac Group led trading with 26.4 percent of total volume for an exchange of 939,501 shares. Limners and Bards chipped in with 14.1 percent of the day’s trade resulting in a transfer of 501,415 units and Caribbean Flavours closed with 8.5 percent market share or 303,996 stocks.
Trading averaged 104,692 units at $301,619 in contrast to 354,517 at $889,647 on Monday. Trading month to date averaged 301,073 units at $692,446, compared to 320,769 units at $731,644 on Monday. November averaged 193,331 units at $566,885.
Investor’s Choice bid-offer indicator
 reading shows four stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close of the market, Blue Power climbed 36 cents to $3.36 with 30,050 shares changing hands, Caribbean Assurance Brokers fell 16 cents to $1.74 with an exchange of 2,579 stock units, Caribbean Cream rose 10 cents to $4.10 with 54,939 stocks passing through the market. Caribbean Flavours traded 303,996 units and fell by 2 cents to $1.68, Caribbean Producers slipped 5 cents to $2.90 in transferring 64,780 shares, Dolphin Cove gained 20 cents to end at $7 with investors swapping 36,500 stock units. Elite Diagnostic lost 9 cents to end at $2.96 with 26,650 stocks changing hands, Express Catering advanced 16 cents to $3.65 with an exchange of 20,900 shares, Fontana fell 13 cents to $5.30 with 288,680 stock units crossing the market. Fosrich jumped 57 cents and traded 15,127 stocks to finish at $4, General Accident rose 14 cents to $6.10 trading 17,625 units, Honey Bun gained 20 cents to close at $6 with switching ownership of 123,002 shares. iCreate dropped 10 cents to 60 cents with 49,106 stock units changing hands, Jamaican Teas ended 1 cent higher at $1.91 with an exchange of 265,431 stocks, Knutsford Express slipped 2 cents to $5.98 with 55,732 units passing through the market. Lasco Distributors fell 25 cents to $3.20 in trading 34,191 shares. Lasco Financial lost 10 cents to settle at $2.68 with investors switching ownership of 5,000 units, Lasco Manufacturing advanced 19 cents to $3.89 with 14,118 stocks changing hands. Limners and Bards exchanged 501,415 stock units and rose 15 cents to finish at $3, Lumber Depot gained 10 cents to close at $1.60 with 117,993 shares passing through the market, Mailpac Group traded 939,501 units and lost 10 cents to close at $2.63. Main Event rose 6 cents to $3.05 with a transfer of 127,073 stocks, Medical Disposables gained 10 cents to end at $4 with the trading of 2,000 stock units, SSL Venture climbed 10 cents to 55 cents with 39,100 units changing hands and tTech dropped 21 cents to $4.09 with 6,731 shares crossing the exchange.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Junior Market at 4 months high

The Junior Market closed on Monday with the best finish in four months after the market index climbed 40.76 points to 2,591.55, the highest level since August 14 when it closed at 2599.86 points. At just after midday, the index climbed as high as 2614.45 but eventually settled lower and bettering Friday’s close.

Jamaican Teas traded the most volume on Monday.

The market closed with investors trading 469 percent more shares than Friday leaving declining stocks to outnumber advancing ones, with 12 stocks rising, 14 declining and 12 ending with prices unchanged after 38 securities changed hands up from 34 on Friday and resulted in an exchange of 13,471,646 shares for $33,806,568 up from 2,367,751 units at $5,915,555 on Friday.
Jamaican Teas led trading with 43.2 percent of total volume trading 5.82 million shares, followed by Mailpac Group with 22.7 percent after an exchange of 3.05 million units and Fosrich with 21.2 percent market share for a transfer of 2.85 million units.
Trading averaged 354,517 units at $889,647, up from 69,640 at $173,987 on Friday. The month to date averaged 320,769 units at $731,644, up from 316,508 units at $711,697 on Friday. November closed with an average of 193,331 units at $566,885 trading.
The average PE Ratio ended at 13.7 based on ICInsider.com’s forecast of 2020-21 earnings.
Investor’s Choice bid-offer indicator reading shows four stocks ended with bids higher than their last selling prices and three with lower offers.
At the close of the market, Access Financial fell 10 cents to $20.10 with an exchange of 8,666 shares,  AMG Packaging declined 22 cents to $1.46 with 158,125 stocks changing hands, Blue Power dropped 36 cents to $3 with 15,265 units trading. CAC 2000 jumped $2 to $10 with 2,182 shares traded, Cargo Handlers lost 20 cents to close at $6.80 with a transfer of 100 stock units, Caribbean Producers inched 1 cent higher to $2.95 with an exchange of 21,296 units. Derrimon Trading rose 25 cents to $2.50 with 1,235 stocks changing hands, Dolphin Cove climbed 80 cents to $6.80 with investors switching 161 shares, Elite Diagnostic gained 5 cents to close at $3.05 with 43,857 stock units traded. Everything Fresh closed 4 cents higher at 75 cents with a transfer of 2,412 stocks, Fontana slipped 7 cents to $5.43 with 127,515 units passing through the market, Fosrich exchanged 2,852,248 shares and shed 56 cents to end at $3.43. General Accident dropped 14 cents to $5.96 with 51,248 units changing hands, GWest Corporation rose 2 cents to 77 cents with a transfer of 1,000 stock units, Honey Bun fell 69 cents to $5.80 with 31,194 stocks changing hands. iCreate gained 11 cents to finish at 70 cents with 25,769 shares passing through the market, Indies Pharma slipped 2 cents to $2.48 with an exchange of 31,307 stocks, Iron Rock Insurance advanced 22 cents to $3.10 after trading 725 stock units.

Lasco Manufacturing dropped 20 cents to $3.70 with 708 shares changing hands, Limners and Bards rose 6 cents to $2.85 with a transfer of  180,351 units, Lumber Depot increased 16 cents to $1.50 with 628,682 stocks passing through the market. Mailpac Group traded 3,053,112 stock units and settled with a gain of 13 cents to close at a 52 weeks’ high of $2.73 after the price bolted to an intraday record high of $3.10. Main Event declined 1 cent to $2.99 with 15,369 units trading, Medical Disposables fell 10 cents to $3.90 with investors switching ownership of 4,295 stocks. SSL Venture dropped 14 cents to a 52 weeks’ low of 45 cents with 100,000 units changing hands and Tropical Battery slipped 1 cent to $1.16 with 90,846 shares crossing the exchange.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Mailpac does it again

Mailpac Group remained the lead trade for a fourth consecutive day on the Junior Market of the Jamaica Stock Exchange on Friday, with the price closing an all-time high of $2.60 as the market ended with more stocks rising than falling after trading 42 percent fewer shares at a value that is 29 percent lower than on Thursday.

Mailpac dominated trading on Friday with 26% of the total volume of the market.

As was the case on Thursday trading ended with 34 securities changing hands with the prices of 18 stocks rising, 10 declining and six remaining unchanged.
At the close, the Junior Market Index advanced by 9.32 points to settle at 2,550.79. The average PE Ratio ended at 13.7 based on ICInsider.com’s forecast of 2020-21 earnings.
Trading resulted in 2,367,751 shares changing hands at $5,915,555 compared to 4,116,831 units at $8,351,601 on Thursday. Mailpac Group led trading with 26.2 percent of total volume, after an exchange of 619,404 shares followed by Jamaican Teas with 25.5 percent for 603,391 units and Tropical Battery with 7 percent market share for 164,691 units.
Trading averaged 69,640 units at $173,987 in contrast to 121,083 at $245,635 on Thursday. The month to date average resulted from an exchange of 316,508 units at $711,697, compared to 347,945 units at $780,169 on Thursday. November averaged 193,331 units at $566,885 trading.
Investor’s Choice bid-offer indicator reading shows four stocks ending with bids higher than their last selling prices and four with lower offers.
At the close of the market, Access Financial shed $1.86 to $20.20, with 1,104 shares crossing the market units, Caribbean Assurance Brokers rose 2 cents to $1.90 trading 1,750 units, Caribbean Cream lost 2 cents to $4, in an exchange of 92,819 shares. Derrimon Trading closed at $2.25, with a loss of 5 cents exchanging 1,000 units, Elite Diagnostic slipped 3 cents to end at $3, in transferring 29,771 stock units, Everything Fresh gained 5 cents to close at 71 cents trading 14,753 stocks. Express Catering lost 1 cent to finish at $3.49 after 2,250 units changed hands, Fontana gained 5 cents to close at $5.50, with 140,405 shares clearing the market, Fosrich rose 3 cents to $3.99, with 11,929 stock units changing hands. GWest Corporation closed 6 cents higher at 75 cents, with 75,697 shares in crossing the exchange, Honey Bun gained 51 cents to settle at $6.49, in trading 81,580 shares, iCreate lost 1 cent in ending at 59 cents, with a transfer of 75,200 shares. Indies Pharma gained 13 cents to settle at $2.50 trading 26,327 stock units, Iron Rock Insurance closed at $2.88, after losing 7 cents exchanging 2,417 units, ISP Finance advanced by $3.97 to $22.97, with just 500 units trading. Jamaican Teas gained 2 cents to close at $1.90, after an exchange of 603,391 shares, Jetcon Corporation picked up 1 cent to settle at 80 cents after a transfer of 12,300 stock units, Knutsford Express rose 7 cents in closing at $6, in clearing the market with 28,984 stock units. Lasco Financial ended 23 cents higher at $2.78, with an exchange of 1,000 units, Lasco Manufacturing gained 5 cents to end at $3.90, with 19,940 units crossing the exchange, Limners and Bards rose 9 cents to close at $2.79, with an exchange of 157,687 shares. Lumber Depot lost 2 cents in ending at $1.34, with 132,904 shares changing hands, Mailpac Group gained 25 cents to end at a record high of $2.60 trading 619,404 shares, Medical Disposables lost 2 cents to end at $4, after 5,102 units were traded. Paramount Trading rose 2 cents to $1.54, in exchanging 4,528 units, SSL Venture closed 7 cents lower at 59 cents trading 12,552 units, Stationery and Office Supplies rose 95 cents to $4.55, with 1,470 units changing hands and Tropical Battery gained 4 cents to close at $1.17 after an exchange of 164,691 shares.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

ISP slated for upside surprise

This Junior Market stock is not the product of a sexy company that many investors follow, but it remains one of the pricier stocks on the market and is a company that could well surprise to the upside.

ISP Finance is now trading at $19.

In reporting its full year results for 2019, the company, in early 2020, showed a profit of $58 million, up from $44 million or rising 30 percent in 2018. By the time the audited report was released, profit dropped to just $23 million or 22 cents per share. The difference resulted from increased provisioning for expected credit losses with the advent of the Coronavirus in the country in the first quarter of 2020. The provision, which was originally booked as $47 million for 2019, climbed to a massive $88 million when the auditors reported the results. The audited accounts also showed a decline of $7 million in finance charges than the interim results.
According to the company’s finance director, Diyal Fernando, “we took a higher level of provisioning to be prudent,” in light of the impact the virus was likely to have on the ability of clients to service their commitments. The company does not now see a sharp increase in provisions for the current year.  To the end of September, expected credit losses provision dropped to $31 million from $37 million last year, which drove the overall provisions for the loan portfolio of $821 million to $191 million as loans grew by $32 million during the September quarter.
One of the most telling developments during the current year is the sharp reduction in staff cost. The wage bill in the September quarter fell substantially to $21.2 million from $37.6 million in 2019, with the nine months down to $80 million from $103 million in 2019. In the June quarter, the wage bill fell to $26 million, down from $33 million in 2019, with the March quarter cost at $33 million. The company has clearly focused on this area and while management at the AGM was a bit cagey on the issue, admitted that they had radically changed their modus operandi. The cost reduction is expected to be a continuing feature of the operations in the future.
Shareholders present at the AGM recommended that the company consider splitting the stock, which last traded at $19 to allow for greater liquidity and extracts more publicity from listing on the market, as well as to issue new shares to increase the share capital and therefore, have more funds for expansion. The directors indicated that they were going to look at the recommendations seriously.
Interest income fell in the September quarter to $86 million from $94 million and $276 million for the nine months to September 2019 to $264 million in 2020. Interest expenses remained stable at $7 million for the quarter and $22 million for the nine months, while operating expenses fell to $57 million for the quarter from $74 million in 2019 and $211 million in the nine months to September 2019 to $186 million this year.
The quarterly profit almost doubled from $12 million to $21 million, but the year to date rose by just $10 million to $51 million, resulting in earnings per share of 19.6 cents for the quarter and 48.4 cents for the nine months. ICInsider.com projects 85 cents per share for the full year to December and $2 for 2021 that puts the PE at 22.5 based on the current year’s earnings and 9.5 times the 2021 estimate. With the company being a strong growth entity, the stock is considered a buy for longer-term gains.
Information gleaned is that the company is in talks about a possible acquisition. The company is a small entity with shareholders’ equity of just $400 million. It provides microfinance loans mostly to workers in government operated entities and there is a position to grow profits at a robust rate.

Mailpac led trading for a 3rd day

Mailpac Group led trading for the third consecutive day on the Junior Market of the Jamaica Stock Exchange on Thursday as the total volume and value of shares trading on the market declined 74 percent and 76 percent, respectively, from Wednesday’s levels.

Mailpac CEO Khary Robinson.

Similar to Wednesday, trading ended with 34 securities changing hands and closed with the prices of 17 stocks rising, 10 declining and seven remaining unchanged.
The Junior Market Index rose 22.47 points to 2,541.47 and the average PE Ratio ended at 13.3 based on ICInsider.com’s forecast of 2020-21 earnings.
Trading accounted for 4,116,831 shares at $8,351,601 down from 15,670,241 units at $34,936,702 on Wednesday. Mailpac Group led trading with 32.8 percent of total volume as 1.35 million shares changed hands, followed by Lumber Depot with 23.5 percent for 967,216 units following the release of good second-quarter results and Jamaican Teas with 19.3 percent market share for 795,272 units.
Trading averaged 121,083 units at $245,635 in contrast to 460,889 at $1,027,550 on Wednesday. The month to date, average trade comes in at 347,945 units at $780,169, compared to 381,049 units at $858,170 on Wednesday. November averaged 193,331 units at $566,885.
Investor’s Choice bid-offer indicator reading shows four stocks ending with bids higher than their last selling prices and three with lower offers.
At the close of the market, Blue Power lost 2 cents to end at $3.36, with 1,330 units passing through the market, Caribbean Assurance Brokers gained 8 cents to close at $1.88 after an exchange of 18,613 stock units, Caribbean Cream lost 1 cent in closing at $4.02, trading 29,376 stock units. Caribbean Producers rose 24 cents to $2.94, with an exchange of a mere 500 units, Consolidated Bakeries gained 28 cents, in ending at $1.40 trading 1,082 shares, Derrimon Trading shed 20 cents to settle at $2.30, after exchanging 10,000 stock units. Dolphin Cove dropped $1 to $6 in transferring 2,000 units, Everything Fresh lost 5 cents to close at 66 cents trading 40,151 shares, Express Catering gained 10 cents to finish at $3.50, with 3,350 units changing hands. Fontana picked up 5 cents in closing at $5.45, with an exchange of 124,807 shares, Fosrich lost 3 cents in ending at $3.96 and trading 6,579 units, General Accident gained 10 cents to $6.10, with 20,650 stock units crossing the market. Honey Bun rose 28 cents to end at $5.98, with 20,525 stock units changing hands, Indies Pharma lost 13 cents to close at $2.37, in transferring 27,616 stock units, ISP Finance climbed $2 to $19, after trading 4,759 units. Jamaican Teas gained 8 cents to settle at $1.88, exchanging 795,272 shares, Jetcon Corporation rose 4 cents to 79 cents trading 12,429 stock units, Lasco Distributors closed 25 cents higher at $3.45, with an exchange of 10,000 units. Lasco Financial slipped 10 cents to close at $2.55 after 80,500 shares passed through the market, Lasco Manufacturing gained 16 cents in closing at $3.85, with investors swapping 18,615 stock units, Limners and Bards gained 10 cents to close at $2.70 trading 8,691 units. Lumber Depot closed at $1.36, with gains of 18 cents as investors swapped 967,216 shares, Mailpac Group added 10 cents in closing at $2.35 trading 1,348,067 shares, SSL Venture gained 10 cents to settle at 66 cents, in exchanging 100,000 shares. Stationery and Office Supplies shed 50 cents to $3.60 after transferring 9,460 units and Tropical Battery lost 6 cents to close at $1.13, exchanging 366,394 shares.
In the preference segment, CAC 2000, 9.5% preference share gained 17 cents to close at $1.14 with an exchange of 4,000 units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.