JSE inch up on Wednesday

Carreras climbed to a 52 weeks’ high of $92 on Wednesdaay.

Big movements in a number of main market stocks were mixed at the close of the Jamaica Stock Exchange on Tuesday, leaving the market indices with moderate gains with one stock climbing to a new high.
The All Jamaica Composite Index advanced 126.62 points to 259,635.75, the JSE Market Index gained 115.36 points to 236,557.57 and the JSE US dollar market index dropped 2.64 points to close at 171.83. At the close of trading, 26 securities changed hands in the main market with 2 trading in the US dollar market and one bond traded, leading to 7 stocks advancing and 13 declining. Carreras closed at a new 52 weeks’ high at the conclusion of trading. The main market ended with 5,512,413 units valued at $131,703,756 changing hands compared to 3,076,517 units valued at $75,479,037 at the close on Tuesday. Trading in the US dollar market accounted for 1,886,641 units valued at US$414,205, bringing the total value to J$184,887,663.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 7 stocks with bids higher than their last selling prices and 4 with lower offers.
The main market ended trading with an average of 212,016 units valued at $5,065,529 for each security traded, compared to an average of 133,762 units valued at $3,281,697. The average volume and value for the month to date ended at 155,508 units with an average value of $3,821,656 compared with an average of 127,255 units with an average of $3,199,719 on the previous trading day. The average volume and value for June ended at 218,951 units with an average value of $3,871,959.
In market activity, Berger Paints closed at $15.50, losing $1, trading 3,486 shares, Cable and Wireless gained 3 cents and closed at $1.13, with 70,616 stock units switching owners, Carreras jumped $1.99 higher, in closing at a 52 weeks’ high of $92 with 84,094 shares changing hands, Grace Kennedy closed at $40.50, with a loss of $1.50, trading 24,428 units. Jamaica Broilers gained 30 cents, closing at $18, with an exchange of 137,347 shares, Jamaica Producers closed at $15, losing 70 cents with 6,700 shares trading. Jamaica Stock Exchange lost 15 cents to close at $6.95, trading 46,311 shares, JMMB Group closed at $19, with a loss of $1 exchanging 9,377 units, Kingston Properties traded 95 cents lower to close at $9, with 4,000 units changing hands, Kingston Wharves closed at $29, losing 50 cents while trading 5,165 shares, Mayberry Investments closed at $4.60, with 3,000 shares changing hands. NCB Financial Group climbed $1.45 to close at $70, after exchanging 768,259 shares, 1834 Investments added 15 cents, in closing at $1.50 with 30,292 shares traded, PanJam Investment closed at $34.50, losing 70 cents with trades of 18,348 shares, Proven Investments lost 1 cent to close at $24 exchanging 2,439,750 shares, Pulse Investments closed at $3.50, with a loss of 85 cents and 22,500 shares changing hands, Radio Jamaica traded 86,675 shares at $1.60. Sagicor Group closed at $33.50, with gains of 40 cents trading 28,638 shares, Sagicor Real Estate gained 14 cents to close at $12.24 exchanging 1,015 units. Scotia Group traded $2.45 lower, closing at $42.55 with an exchange of 10,927 shares, Scotia Investments closed at $36.01, losing $1.99 with 42,553 shares changing hands, Seprod traded 29,647 shares at $30 while Supreme Ventures closed at $7.77, with an exchange of 73,630 shares. Margaritaville Turks US ordinary share closed at 32 US cents, with trades of 34,800 units, Proven Investments US ordinary share closed at 22 US cents trading 1,833,841 units, JMMB Group 7.5% preference share lost 1 cent, closing at $1.10 with 1,309,213 units exchanged and JMMB 7.5% preference share closed at $1.85, with 171,442 units traded.

JSE majors in moderate fall – Tuesday

Main market stocks declined on the Jamaica Stock Exchange at the close on Tuesday and just barely taking a small bite out of the strong gains on Monday. At the close, the All Jamaica Composite Index declined 335.47 points to close at 259,509.13, the JSE Market Index fell 305.65 points to 236,442.21 and the JSE US dollar market index dropped 5.99 points to close at 174.47.
At the close of trading, 23 securities changed hands in the main market with 2 trading in the US dollar market, leading to 10 stocks advancing and 9 declining. Three securities ended trading at a new closing high. The main market ended with 3,076,517 units valued at $75,479,037 changing hands compared to 2,897,944 units valued at $74,825,788 at the close on Monday. Trading in the US dollar market accounted for 2,038,184 units valued at US$473,952.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 4 stocks with bids higher than their last selling prices and 3 with lower offers.
The main market ended trading with an average of 133,762 units valued at $3,281,697 for each security traded compared to an average of 120,748 units valued at $3,117,741. The average volume and value for the month to date ended at 127,255 units with an average value of $3,199,719 compared with an average of 120,748 units with an average value of $3,117,741 on the previous trading day. The average volume and value for June ended at 218,951 units with an average value of $3,871,959.
In market activity, Berger Paints gained $1.50 to close at $16.50 while exchanging 7,536 shares, Cable and Wireless lost 1 cent and closed at $1.10, with 100,957 stock units switching owners, Caribbean Cement closed at $28, with 1,350 shares traded, Carreras traded $1.01 higher, closing at a 52 weeks’ high of $90.01, with 1,725 shares changing hands, Grace Kennedy gained $2 to close at $42 in trading 1,400 units. Jamaica Broilers lost 30 cents, closing at $17.70, with an exchange of 26,548 shares, Jamaica Producers closed at $15.70 with gains of 70 cents while trading of 28,804 shares, Jamaica Stock Exchange closed at $7.10, gaining 5 cents trading 18,990 shares, JMMB Group closed at $20 exchanging 2,648 units, Kingston Wharves lost 50 cents to close at $29.50 trading 90,917 shares, Mayberry Investments closed at $4.60, with 1,112 shares changing hands. NCB Financial Group closed at $68.55, with a loss of $1.45 after exchanging 145,990 shares, PanJam Investment closed at $35.20, losing 31 cents with trades of 16,532 shares, Portland JSX lost 99 cents, with 1,052 units traded, Proven Investments added 1 cent to close at a 52 weeks’ closing high of $24.01 in exchanged for 2,200,900 shares, Pulse Investments closed at a new high of $4.35, with gains of 60 cents and with 65,062 shares changing hands. Radio Jamaica traded 69,640 shares at $1.60, Sagicor Group closed at $33.10, with gains of 50 cents in trading 147,145 shares, Sagicor Real Estate Fund exchanged 1,000 units at $12.10. Scotia Group closed at $45, with a loss of 70 cents and an exchange of 42,725 shares while Supreme Ventures closed at $7.77, and lost 1 cent with 50,318 shares changing hands. Proven Investments US ordinary shares, closed at 22 US cents, having lost 0.02 US cent trading 2,068,184 units, JMMB Group US 6% preference share gained 0.02 US cents to close at US$1.12 with trades of 15,718 units, JMMB Group 7.5% preference share lost 2 cents, closing at $1.11 with 51,966 units exchanged and JMMB 7.5% preference share closed at $1.85, with 2,200 units traded.

JSE majors make big gains again – Monday

Scotia Group accounted for 46 percent of the volume traded on Monday.

Big movement in a number of main market stocks of the Jamaica Stock Exchange drove the indices up sharply at the closed on Monday and adding to the big gains on Friday. The All Jamaica Composite Index jumped 1,871.36 points to close at 259,844.60, the JSE Market Index climbed 1,705.02 points to 236,747.86 and the JSE US dollar market index lost 0.51 points to close at 180.46.
At the close of trading, 24 securities changed hands in the main market with 1 trading in the US dollar market, leading to 10 stocks advancing and 7 declining. Pulse Investments, fresh from a 6 for 1 stock split closed at a new 52 weeks’ high at the conclusion of trading. The main market ended with 2,897,944 units valued at $74,825,787.51 changing hands compared to 1,531,947 units valued at $26,473,230 at the close on Friday. Trading in the US dollar market accounted for 83,800 units valued at US$19,274.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 8 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 120,748 units valued at $3,117,741 for each security traded compared to an average of 66,606 units with an average value of $1,151,010 on Friday. The average volume and value for June ended at 218,951 units with an average value of $3,871,959.
In market activity, Barita Investments gained 50 cents to close at $7 trading 20,000 shares, Berger Paints traded $2.97 lower to close at $15 in exchanging 6,667 shares, Cable and Wireless lost 5 cents and closed at $1.11, with 43,470 stock units switching owners, Caribbean Cement closed at $28, with 21,600 shares traded. Carreras traded 8,560 shares at $89, Grace Kennedy closed at $40, but lost $1 trading 25,931 units, Jamaica Broilers gained 40 cents to close at $18, with 25,055 shares changing hands, Jamaica Producers lost $1 and closed at $15 with 39,402 units trading. Jamaica Stock Exchange closed at $7.05, gaining 5 cents and trading 21,349 shares, JMMB Group closed at $20, with gains of 3 cents while exchanging 22,733 units, Kingston Wharves gained 15 cents to close at $30, trading 23,419 shares, Mayberry Investments closed at $4.60, losing 50 cents with an exchange of 888 shares. NCB Financial Group closed at $70, after exchanging 107,711 shares, PanJam Investment closed at $34.89, with 36,102 shares changing hands, Portland JSX traded 1,002 units at $11, Pulse Investments closed at a new high of $3.75 after a 6 for 1 stock split, with 58,504 shares changing hands, Sagicor Group closed at $32.60, with a loss of 49 cents trading 19,778 shares, Sagicor Real Estate fund gained 10 cents to close at $12.10, with 8,519 shares changing owners. Scotia Group accounted for 46 percent of the volume traded in the market and the price jumped $2.70 to close at $45.70, with 1,337,205 shares having been traded, Seprod added $1.93 to close at $30 in exchanging 7,966 shares while Supreme Ventures closed at $7.78, with a rise of 33 cents with 12,351 shares changing hands. Proven Investments US ordinary shares closed at 23 US cents, with an exchange of 83,800 units, JMMB Group 7.5% preference share closed at $1.13, with 996,000 units exchanged, JMMB 7.5% preference share closed at $1.85, with 26,358 units traded and Proven 8.25% preference share lost 5 cents to close at a 52 weeks’ low of $5.10, with 27,294 units traded.

 

Berger price bounces 43%

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 Berger Paints recovered from a $12.50 the previous week to land 43 percent higher at $17.87 this past week to sit at ninth position in the list for the week when they were no new addition to the TOP 10 lists. The other notable mover was Caribbean Producers that landed at $3.68 from $3.30.
Jamaica Broilers released full year results to April with earnings per share of $1.85, IC Insider.com has upgraded 2018 earnings to $2.60 per share. tTech had the annual general meeting during the past week. Coming out of the meeting is management disclosing that, they have implemented a number of measures that is improving efficiency that will allow them to take on more business without the need to increase staff compliment for a while. They also pointed out that the sale team have been working to bring in new business and they expect increase business activity in the second half of the current year. Additionally, management took the recommendation about a possible stock split and informed the meeting that the board will discuss same.
Market movement continues to be constrained by near term resistance levels but it does not prevent stocks from moving in either direction, but it will tend to keep prices overall from big movements upwards.
The average PE ratio for the Junior Market Top stocks is 7.6 and 7 in the main market, these compare favourably with 13.7 for the overall main market and 12.7 for Junior Market, based on 2017 estimated earnings. Several stocks are trading below these averages, and have potential for more gains in the months ahead, barring major negative developments.
At the close of the week, IC Insider.com’s TOP 10 Junior Market stocks now trade at an average discount of 40 percent to the Junior Market average, while those in the main market are trading at a 49 percent discount, to the average of the market, leaving stocks with room for growth in the months ahead.

Jamaica Broilers’ profit jumps 28%

Jamaica Broilers

The financial year to April 2017 was a good one for Jamaica Broilers Group, with attractive revenue and profit growth. For the full year, profit after tax attributed to the company’s shareholders rose 28 percent to $2.23 billion from $1.74 billion in 2016.
Sales revenues grew 15.3 percent to $44.44 billion for the year from $38.52 billion in 2016. The group enjoyed a 17% increase in revenues in the fourth quarter to $12.32 billion up from $10.52 in 2016 but profit but rose from $900 million to $1 billion at a slower pace than the growth in revenue.
A fall in the pace of growth in gross profit was a major factor in the slower growth in the last quarter as direct cost rose limiting gross profit to a rise of 13 percent to $3.57 billion in the quarter from $3.16 billion in 2016.
Segment results showed the Jamaican segment generating revenues of $31.96 billion up from $28.4 billion but segment results fell from $3.6 billion to $2.87 billion. Revenues for the US based operations grew to $10.86 billion from 8.8 billion and generated segment profit of $1.3 billion compared to $1 billion in 2016. Other Caribbean Countries generated revenues from third parties of $1.6 billion up from $1.3 billion in 2016 and contributed $944 million to profit up from $254 million in 2016.
While some Jamaican companies are by passing cheap borrowed funds for expansion purposes, Jamaica Broilers with equity capital of $14.4 billion has $7.7 billion in debt. The group holds $2.76 billion in cash with loan receivable of $2.55 billion of which $500 million is due within 12 months. Cash flow from operations is attractive at approximately $3 billion for 2017. During the past year $749 million was expended on the acquisition of fixed assets compared to $800 million in 2016 and the group paid dividends of $420 million for the 2017 fiscal year, up from $311 million in the prior period.
Forecast for 2018 is for EPS of $2.60, up from $1.85 for 2017. The stock closed on the Jamaica Stock Exchange on Friday at $18 at 10 times 2017 earnings but 7 times 2018 earnings compared to an average of the main market of 13.7. IC Insider.com rates the stock a buy for growth and income.

JSE indices drop Wednesday

Trading in the main market of the Jamaica Stock Exchange closed on Wednesday with the number of stocks rising and falling being almost even. Trading volumes declined while the values increased compared to the prior day but the market indices closed lower.
The All Jamaica Composite Index fell 1,045.65 points to close at 258,307.11, the JSE Market Index declined 952.70 points to 235,347.03 and the JSE US dollar market index gained 1.72 points to close at 183.12.
At the close of trading, 22 securities changed hands in the main market, with 1 trading in the US dollar market, leading to 7 stocks advancing and 8 declining. Trading in the main market ended with 1,699,314 units valued at $60,267,634 changing hands compared to 2,115,285 units valued at $50,230,238 at the close on Tuesday. Trading in the US dollar market accounted for 5,145 units valued at US$1,201.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 6 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 77,242 units valued at a mere $2,739,438 for every security traded compared to an average of 88,137 units valued at $2,092,927 on Tuesday. The average volume and value for the month to date ended at 235,617 units valued at $4,170,226 compared with an average of 243,952 units with an average value of $4,245,530 on the previous trading day. The average volume and value for May ended at 358,008 units and $9,037,303.
In market activity, Barita Investments closed at $6.50, with a loss of 50 cents exchanging 122,700 shares, Berger Paints closed at $14.30, after gaining $1.30 trading 3,468 shares, Carreras gained 30 cents to close at $86.80, with 10,436 units trading, Grace Kennedy dropped $1.90 to close at $40.10, with an exchange of 468,413 units, Jamaica Broilers closed at $17.60, with a loss of 40 cents trading 11,000 shares, Jamaica Producers exchanged 4,742 units at $16. Jamaica Stock Exchange closed at $6.99 trading 47,474 shares, JMMB Group closed at $18.50, with 32,333 units changing owners, Kingston Properties traded 5,000 units at $9.95, Kingston Wharves closed at $28.90, with trades of 1,370 shares. Mayberry Investments closed at $4.75, gaining 20 cents with an exchange of 52,105 shares, NCB Financial Group closed at $70.99, with a loss of 41 cents after exchanging 56,856 shares, 1834 Investments gained 5 cents to close at $1.50 trading 17,269 shares, PanJam Investment lost 2 cents to close at $34.87, with trades of 14,326 shares. Portland JSX advanced $2 to close at $11, with 62,072 shares changing hands, Pulse Investments closed at $17.99, with an exchange of 4,584 shares, Radio Jamaica gained 10 cents to close at $1.60 trading 17,627 units, Sagicor Group closed at $33.20, with a loss of $1.33, trading 3,921 shares, Sagicor Real Estate Fund gained 50 cents to close at $11.50, with 3,450 shares changing hands. Scotia Group traded $2.98 lower to close at $42.52 exchanging 734,967 shares, Scotia Investments closed at $36.58 trading 10,100 units while Supreme Ventures closed at $7.45, losing 20 cents with 15,101 shares changing owners. Proven Investments US ordinary shares closed at 23 US cents, with 5,145 units changing hands.

 

Proven shareholders sending message

Investors in Proven Investments US ordinary shares a strong message to the management of the group by talking with their money. Last week, the company’s shares were sold at $20 and less in the Jamaican dollars on the main market of the stock exchange when the price in the US dollar market was near J$31.
On Tuesday 550,000 shares were sold at J$24 in the JSE main market while 1.83 million units traded, with the stock closing at 23 US cents, 1 US cent less than the price of the right issue. The price has suffered a steep fall since the company released the full year results to March and got worse since the announcement of the rights.
Trading in the main market of the Jamaica Stock Exchange closed on Tuesday with the market indices rising, even as advancing stocks were fewer than declining stocks. At the close, the All Jamaica Composite Index advanced 898.62 points to close at 259,352.76, the JSE Market Index gained 818.75 points to 236,299.73 but the JSE US dollar market index lost 5.93 points to close at 181.40.
At the close of trading, 24 securities changed hands in the main market of the exchange with 1 trading in the US dollar market, leading to 9 stocks advancing and 12 declining. Trading in the main market ended with 2,115,285 units valued at $50,230,238 changing hands compared to 1,709,564 units valued at $44,534,888 at the close on Monday. Trading in the US dollar market accounted for 1,828,601 units valued at US$421,790.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 4 stocks with bids higher than their last selling prices and 1 with a lower offer.
The main market ended trading with an average of 88,137 units valued at $2,092,927 for every security traded compared to an average of 74,329 units valued at $1,781,396 on Monday. The average volume and value for the month to date ended at 243,952 units with an average value of $4,245,530 compared with an average of 252,609 units with an average value of $4,365,119 on the previous trading day. The average volume and value for May ended at 358,008 units and $9,037,303.
In market activity, Berger Paints closed at $13, losing $1.30 trading 7,842 shares, Cable and Wireless closed at $1.13, with 23,303 stock units changing owners, Caribbean Cement traded $3 higher to close at $28 exchanging 26,007 shares, Carreras lost 30 cents to close at $86.50, with trades of 916 units, Grace Kennedy closed at $42, gaining $1 with an exchange of 11,922 units, Jamaica Broilers closed at $18, with gains of 9 cents trading 120,579 shares, Jamaica Producers exchanged 17,174 units to close at $16. Jamaica Stock Exchange lost 1 cent, closing at $6.99 trading 115,220 shares, JMMB Group gained $1.47 to close at $18.50, with 301,494 units changing owners and Kingston Wharves lost $1.10 to close at $28.90 trading 8,540 shares. Mayberry Investments closed at $4.55, losing 45 cents with trades of 5,600 shares, NCB Financial Group closed at $70, with gains of $1.40 after exchanging 93,364 shares and PanJam Investment gained 79 cents to close at $34.89, with trades of 26,073 shares. Proven Investments traded $3 higher to close at $24 exchanging 550,000 shares, Pulse Investments closed at $17.99, losing 1 cent with an exchange of 500 shares, Sagicor Group closed at $34.53, gaining 43 cents trading 48,115 shares and Sagicor Real Estate fund lost 60 cents to close at $11, with 146,392 shares changing hands. Scotia Group closed at $45.50, with gains of $2.99 exchanging 324,221 shares, Scotia Investments closed at $36.58, with a loss of 42 cents trading 194 units, Seprod traded $2 lower to close at $28, with an exchange of 6,700 shares while Supreme Ventures closed at $7.65, gaining 24 cents with 86,000 shares changing owners. Proven Investments US ordinary shares closed at 23 US cents, losing 0.01 US cent with trades of 1,828,601 units, JMMB 7.5% preference share lost 5 cents to close at $1.85 exchanging 75,500 shares, JMMB Group 7.5% preference share closed at $1.13 trading 329 units and Proven Investments 8.25% preference share traded 119,300 units at $5.17.

JSE main market ends down on Monday

Trading in the main market of the Jamaica Stock Exchange closed on Monday with a number of stocks declining out pacing those rising. The volume and value of stocks trading declined compared to that on Friday and the market indices trended lower.
The All Jamaica Composite Index declined 165.52 points to close at 258,454.14, the JSE Market Index fell 150.81 points to 235,480.98 and the JSE US dollar market index gained 3.32 points to close at 187.33.
At the close of trading, 23 securities changed hands in the main market, plus one bond and 1 stock in the US dollar market traded leading to 7 stocks advancing and 12 declining. Trading in the main market ended with 1,709,564 units valued at $44,534,888 changing hands compared to 2,161,083 units valued at $46,263,769 at the close on Friday. Trading in the US dollar market accounted for 203,960 units valued at US$48,949 and the bond market had 425,000 units trading at $42,500,000.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 6 stocks with bids higher than their last selling prices and 4 with lower offers.
The main market ended trading with an average of 74,329 units valued at a mere $1,781,396 for every security traded compared to an average of 77,182 units valued at a mere $5,040,005 on Monday. The average volume and value for the month to date ended at 252,609 units with an average value of $4,365,119 compared with an average of 263,096 units with an average value of $4,517,103 on the previous trading day. The average volume and value for May ended at 358,008 units and $9,037,303.
In market activity, Berger Paints recovered $2.25 of last weeks’ losses to close at $14.30, while trading 27,337 shares, Cable and Wireless added 1 cent to close at $1.13, with 42,747 stock units changing owners, Caribbean Cement closed at $25, with a loss of $1 exchanging 144,428 shares, Carreras traded $1.80 higher to close at $86.80, with an exchange of 5,259 units, Grace Kennedy closed at $41, losing 50 cents with trades of 243,861 units, Jamaica Broilers closed at $17.51, with a loss of 49 cents trading 375,624 shares, Jamaica Producers exchanged 50,500 units to close at $16. Jamaica Stock Exchange closed at $7 trading 31,599 shares, JMMB Group lost 3 cents to close at $19.97, with 19,674 units trading, Kingston Properties closed at $9.95 losing 5 cents exchanging 2,000 shares, Kingston Wharves jumped $4 higher to close at $30 trading 3,402 shares. Mayberry Investments closed at $5, losing 19 cents with 2,000 shares traded, NCB Financial Group closed at $70, with a loss of $1.50 after exchanging 34,098 shares and falling to $68 in early morning trading. 1834 Investments closed at $1.45, losing 5 cents with 33,000 units changing hands, 138 Student Living exchanged 10,600 units at $4.50, PanJam Investment gained 10 cents to close at $34.10, with trades of 6,287 shares. Proven Investments traded $2 higher to close at record high of J$21, in exchanging 48,000 shares in the main market, Pulse Investments closed at $18, with an exchange of 4,048 shares, Radio Jamaica traded 185,000 shares at $1.50, Sagicor Group closed at $34.10, losing 9 cents trading 93,100 shares. Scotia Group dropped $2.19 to close at $42.51, exchanging 336,471 shares while Supreme Ventures closed at $7.41, losing 9 cents with 6,058 shares changing owners. Proven Investments US ordinary shares closed at 24 US cents, with trades of 203,960 units, JMMB Group 7.5% preference share closed at $1.13, gaining 1 cent with an exchange of 4,471 units and Jamaica Producers traded 425,000 units of corporate bond at $100 each.

 

AMG eases Dolphin Cove out of TOP 10

AMG Packaging back in IC TOP 10.

Only one change occurred in the TOP 10 list for the past week with AMG Packaging reentering the list and Dolphin Cove moving out, as the price of the latter moved back to $20 from $18, the week before.
In the main market Berger Paints jumps to third position from 7 with the price tumbling from $17.31 to $12.50 during the week after trading at a low of $12.05.
The other news worthy development of the week was the increase in the price of former TOP 10 Junior Market listing, Jetcon Corporation that drop out of the top list last week. The stock closed at a new high during the past week but ended at $5.90 after 3 for 1 stock split took effect on Thursday, with attempts to trade at $7.40 on Friday thwarted by the circuit breaker rules. The trade was cancelled after the market closed.
Market movement continues to be constrained by near term resistance levels but it does not prevent stocks from moving in either direction, but it will tend to keep prices overall from big movements upwards.
The average PE ratio for the Junior Market Top stocks is 7.3 and 6.9 in the main market, these compare favourably with 13.5 for the overall main market and 13 for Junior Market, based on 2017 estimated earnings. Several stocks are trading below these averages, and have potential for more gains in the months ahead, barring major negative developments.
At the close of the week, IC Insider.com’s TOP 10 Junior Market stocks now trade at an average discount of 43 percent to the Junior Market average, while those in the main market are trading at a 49 percent discount, to the average of the market, leaving stocks with room for growth in the months ahead. At the end of April the reading was 35 percent discount for the juniors and 53 percent for the majors.

Palace leaps $108 on Friday

Palace Amusement hit a record of $498 on Friday.


Cinema owners and movie promoters, Palace Amusement Company’s share price jumped $108 or just under 27 percent to close at an all-time high of $498 with just 888 shares trading on Friday. The movement in the price of the stock contributed in the market indices rising close to 1,000 points.
The stock traded with a gain of $50 to close at $390 on Tuesday in trading 200 shares. Trading in the main market of the Jamaica Stock Exchange closed on Friday with a number of stocks rising being outnumbered by those declining. The volume and value of stocks traded declined compared to the prior day. At the close of the market, the All Jamaica Composite Index gained 982.15 points to close at 258,619.66, the JSE Market Index rose 894.85 points to 235,631.79 and the JSE US dollar market index fell 3.32 points to close at 184.01.
Trading ended with 28 securities changing hands in the main market with 1 trading in the US dollar market, leading to 9 stocks advancing and 12 declining. Trading ended with 2,161,083 units valued at $46,263,769 changing hands in the main market, compared to 39,788,577 units valued at $130,153,064 at the close on Thursday. Trading in the US dollar market accounted for 489,884 units valued at US$115,026.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 4 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 77,182 units valued at a mere $5,040,005 for every security traded compared to an average of 1,473,651 units valued at a mere $4,820,484 on Thursday. The average volume and value for the month to date ended at 263,096 units with an average value of $4,517,103 compared with an average of 274,715 units with an average value of $4,484,422 on the previous trading day. The average volume and value for May ended at 358,008 units and $9,037,303.
In market activity, Barita Investments traded 1,372 shares at $7, Berger Paints lost $2.95 to end at $12.05, with an exchange of 5,077 shares, Cable and Wireless gained 2 cents to close at $1.12, with 241,397 stock units changing owners, Caribbean Cement closed at $26 trading 227,723 shares, Carreras traded $3 higher to close at $85 in exchanging 48,412 units, Grace Kennedy closed at $41.50, losing 50 cents with 2,487 units changing hands, Jamaica Broilers closed at $18, with gains of 50 cents in trading 14,948 shares, Jamaica Producers traded $1 higher to $16, with 18,695 units being exchanged. Jamaica Stock Exchange closed at $7 trading 20,747 shares, JMMB Group closed at $20, with 1,803 units changing hands, Kingston Wharves traded 98 cents higher to $26, with an exchange of 29,851 shares. NCB Financial Group closed at $71.50, gaining 50 cents after exchanging 21,399 shares, 1834 Investments closed at $1.50, losing 2 cents with 68,095 units changing hands, PanJam Investment lost 50 cents to close at $34, as 21,843 shares were traded. Portland JSX lost 95 cents to close at $9, with just 500 units changing hands, Proven Investments traded 51 cents lower to close at 52 weeks’ low of $19 exchanging 800,415 shares, more than $11 less than the stock traded at in the US dollar market, Pulse Investments closed at $18, with an exchange of 7,389 shares, Radio Jamaica lost 15 cents, closing at $1.50 with 44,371 shares switching owners, Sagicor Group closed at $34.19, losing 32 cents trading 6,890 shares, Sagicor Real Estate fund added 10 cents to close at $11.60, with 1,663 units trading, Scotia Group closed at $44.70, with gains of 70 cents exchanging 315,901 shares while Supreme Ventures closed at $7.50, losing 29 cents with 170,957 shares changing hands. Proven Investments US dollar listed ordinary share, exchanged 489,884 ordinary shares at 24 US cents, Proven Investments 8.25% preference share lost 3 cents, closing at $5.17, with 29,600 units traded, Jamaica Money Market Brokers 7.5% preference share closed at $1.90, with 44,650 units changing hands, JMMB Group 7.5% preference share closed at $1.12, with an exchange of 10,000 units and JMMB Group 7.25% preference share lost 1 cent to close at $1.49 with trades of 1,010 units.