The number of securities trading Friday, on the Jamaica Stock Exchange, climbed to 22, up from 17 on Thursday and 13 on Wednesday. Price movements were confined to just 9 stocks, with the prices of 4 rising and 5 declining. A total of only 709,978 units traded, valued at $9,562,974, In all market segments.
IC bid-offer Indicator| At the end of trading in the main and junior markets, the Investor’s Choice bid-offer indicator showed only 4 stocks with bids higher than their last selling prices and 8 with offers that were lower, which is a slight improvement over Thursday, with 5 to 10, but a continuing negative indicator for the markets, for the current time.
Main Market| The JSE Market Index fell 270.90 points to 71,705.21 and the JSE All Jamaican Composite index declined 302.92 points, to close at 78,887.64.
Gains| Stocks gaining with last traded prices, at the close of the main market are, Grace Kennedy with 109,905 shares, rising 80 cents to $59, National Commercial Bank 50,200 shares changing hands, gained 14 cents to $17.94 and Sagicor Real Estate Fund, closed 10 cents higher at $6.60, with 10,000 units.
Firm| The stocks in the main market to close without a change in the last traded prices are, Cable & Wireless exchanging 20,000 units to close at 29 cents, Jamaica Broilers with only 2,000 shares, closed at $4, Jamaica Money Market Brokers having 29,193 ordinary shares trading to close at $7, Jamaica Producers ended with 9,751 units at $15.50, Mayberry Investments closed with 4,080 shares at $1.50, followed by Radio Jamaica, 11,000 units trading at $1.04 and Seprod having 2,080 shares at $10.90.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Carreras in trading just 154 shares lost 3 cents to end at $34.60, Kingston Wharves closed with 38,664 units, after losing 50 cents to end at $5, Sagicor Group 72,000 units led to a 15 cents fall to $9.50 and Scotia Group 6,469 units closed 3 cents lower at $19.02.
Preference| Jamaica Money Market Brokers 8.75% preference share traded 10,000 units at $3.02 and their 7.50% preference share contributed 301,000 units at $2.
More JSE securities trade but less stocks
Low market activity on JSE
Thursday is the second consecutive day, of painfully low participation and very low level of trading activity, on the Jamaica Stock Exchange. At the close of the market, the prices of 5 stocks rose and 7 declined, as 17 securities changed hands, culminating in only 554,449 units trading, valued at a mere $5,499,290, in all market segments.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator was negative, showing 6 stocks with bids higher than their last selling prices and 10 stocks with offers that were lower.
Main Market| The JSE Market Index declined 892.06 points to 71,976.11 and the JSE All Jamaican Composite index fell 997.48 points to close at 79,190.56.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Carreras with 3,210 shares, increasing 8 cents to $34.63, Jamaica Money Market Brokers ordinary trading 11,168 units at an increase of 5 cents to end at $7 and Scotia Group with 35,420 shares gained 3 cents to $19.05.
Firm| The stocks in the main market to close without a change in the last traded prices are, Desnoes & Geddes with 42,950 units, closed a$4.77, Mayberry Investments 420 shares closed at $1.50, Proven Investments with 9,000 units, ended at 18 US cents and Sagicor Group put through 271,779 shares at $9.65.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Cable & Wireless with 113,885 units changing hands, for the loss of a cent at 29 cents,
Jamaica Producers 333 shares changing hands 25 cents lower at $15.50, Kingston Wharves 750 shares traded 80 cents lower at $5.50, National Commercial Bank with 14,694 units, ended losing 14 cents to $17.80 and Pan Jamaican Investment with 25,000 shares traded 10 cents down, at $49.
Preference| Proven Investments 8% preference share traded 14,290 units 7 cents off at $5.
Market closes out month down
Tuesday’s activity on the Jamaica Stock Exchange, culminated in the prices of 8 stocks rising and 7 declining, as 21 securities changed hands. A total of 5,217,834 units traded, valued at $54,942,294, in all market segments.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator showed 14 stocks with bids higher than their last selling prices and 5 stocks with offers that were lower. The increase is probably due to month end window dressing by some portfolio managers would want to impact the value of the funds under management at the end of the month and quarter.
Main Market| The JSE Market Index lost 160.31 points to 72,238.36 and the JSE All Jamaican Composite index declined by 179.24 points, to close at 79,483.81.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Caribbean Cement, with 109,500 shares changing hands, ended 4 cents higher at $2.40, Grace Kennedy put through 19,208 units with a gain of 70 cents to $58.20, Jamaica Producers had 122,728 shares changing hands, gained 25 cents to $15.75, Mayberry Investments with 5,420 shares closed 4 cents higher at $1.50 and Sagicor Group traded 738,840 units, with an increase of 65 cents, to $9.90.
Firm| The stocks in the main market to close without a change in the last traded prices are, Berger Paints with 3,500 units, closing at $1.66, Cable & Wireless with 453,827 shares at 29 cents, Desnoes & Geddes 45,000 share at $4.77, Pan Jamaican Investment 417,537 shares trading to close at $49.10, Proven Investments 27,700 ordinary shares, to close with the price at 18 US cents and Seprod with 40,000 shares, closed at $10.90.
Declines| The last traded prices of stocks with losses at the close of the main market are, Carreras, down 8 cents to end at $34.55, in trading 93,336 units, Jamaica Broilers with 500,000 shares lost 50 cents to end at $4, Jamaica Money Market Brokers with 42,087 ordinary shares trading, lost 5 cents at $6.95, National Commercial Bank had 452,630 units changing hands, with a 5 cents loss, at $17.94 and Scotia Group with 351,187 shares, closed 5 cents off at $19.25 .
Preference| Jamaica Money Market Brokers 8.50% preference share traded 222,593 units, with a gain of 5 cents to $3.50 and Jamaica Money Market Brokers 7.50% preference share traded 110,462 units at $2.
JSE slips back with 7 stocks up 7 down
Monday’s activity on the Jamaica Stock Exchange, resulted in the prices of 7 stocks rising and 7 declining with 16 securities changing hands, a total of 2,648,086 units traded, valued at $28,212,290, In all market segments.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator showed 10 stocks with bids higher than their last selling prices and 6 stocks with offers that were lower.
Main Market| The JSE Market Index fell 106.01` points to 72,398.67 and the JSE All Jamaican Composite index declined 118.54 points to close at 79,663.05.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Cable & Wireless with 217,861 shares trading, with a 1 cent rise to 29 cents, Jamaica Broilers 18,500 shares changed hands, 10 cents higher at $4.40, Jamaica Money Market Brokers 4,500 ordinary closed up 5 cents at $7, followed by Jamaica Producers with 19,231 units, to gain 30 cents at $15.50, Pan Jamaican Investment put through 59,124 shares, 10 cents higher to end at $49.10 and Seprod had 36,500 shares changing hands, 10 higher at $10.90.
Firm| The only stock in the main market to close without a change in the last traded price is Ciboney, with 155,500 units at 7 cents.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Carreras with 60,148 shares, lost 2 cents to end at $34.63, Desnoes & Geddes traded 100,825 units at a loss of 3 cents, to end at $4.77, Grace Kennedy ended at $57.50, down by $1.95 with only 572 units trading, National Commercial Bank with 222,880 shares, closed with a cent loss at $17.99, Sagicor Group price slipped 40 cents to $9.25 with 1,188,145 shares and Scotia Group declined by 20 cents to $19.30 with 315,896 shares trading.
Preference| No trading took place in the preference section.
2 days with more declines than gains on JSE
Activity on the Jamaica Stock Exchange, ended Friday with the prices of 5 stocks rising and 7 declining, as 20 securities changed hands. A total of 2,173,764 units traded, valued at $31,949,596, in all market segments. For the week, there were three days when the main market indices declined, to two days of advances. There was a small net increase in the indices, with two days when there were slightly more stocks falling, over those rising.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had 6 stocks with bids higher than their last selling prices and 5 stocks with offers that were lower, in line with the recent sideways movement of the market.
Main Market| The JSE Market Index fell 567.08 points to 72,504.68 and the JSE All Jamaican Composite index declined 634.10 points to close at 79,781.59, slightly higher than the 79,650.40 points, it closed the prior week at.
Gains| Stocks gaining with last traded prices, at the close of the main market are, Gleaner with 35,000 shares trading, with a cent rise to $1.06, Grace Kennedy 1,523 shares closed 45 cents higher at $59.45, National Commercial Bank with just 7,000 units changing hands, was up 5 cents at $18 and Proven Investments 55,000 was higher by 0.01 cent at 18 US cents.
Firm| The stocks in the main market to close without a change in the last traded prices are, Caribbean Cement, putting through 4,001 units at $2.36, Carreras with 300,378 units at $34.65, Jamaica Producers with 1,118,531 shares ended at $15.20, Kingston Wharves closed with only 1,652 shares trading at $6.30, but there is little interest in the stock at these prices that is close to one the big trade of 466 million units took place at on Wednesday, the stock now has bids at $5.01 and lower and Sagicor Group with 2,400 shares closed at $9.65.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Cable & Wireless with 19,600 shares, lost 2 cents to end at 28 cents, Jamaica Broilers traded just 6,500 units with a 10 cents loss, to end at $4.30, Jamaica Money Market Brokers 7,092 ordinary shares traded with a 5 cents loss, to end at $6.95, Mayberry Investments 3,060 shares closed down 1 cent, to end at $1.46, Scotia Group with 119,680 shares, closed 50 cents lower at $19.50 and Supreme Ventures closed with a 15 cents fall, to end at $1.80, with 10,346 units.
Preference| Jamaica Money Market Brokers 8.75% preference share traded 76,000 units at $3.02 and Proven Investments 8% preference share changing hands with 30,000 units at $5.07.
Scotia Group climbs to $20 pushes indices
After the big trade in Kingston Wharves shares on Wednesday worth over $3 billion, Thursday’s trading seem light in contrast. The main attraction in today’s trading, was the gain in Scotia Group share price, accompanied by more than 1.2 million shares, helping to push the index up, quite sharply. Market activity on the Jamaica Stock Exchange, resulted in the prices of 6 stocks rising and 6 declining as 17 securities changed hands, resulting in 12,983,655 units trading, valued at $63,224,180, in all market segments.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator showed 6 stocks with bids higher than their last selling prices and 6 stocks with offers that were lower.
Main Market| The JSE Market Index jumped 1,007.75 points to 73,071.76 and the JSE All Jamaican Composite index rose 1,126.85 points to close at 80,415.69.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Berger Paints with 3,500 shares trading, rose of a cent to $1.66, Jamaica Money Market Brokers with 10,212 ordinary shares, gained 5 cents to end at $7, Scotia Group rose 99 cents, as 1,230,365 shares changed hands at $20 and Scotia Investments increased 10 cents with 4,825 units to $21.80.
Firm| The stocks in the main market to close without a change in the last traded prices are, Carreras 13,736 units at $34.65, Jamaica Producers with 1,000,520 shares at $15.20 and Proven Investments with 8,639 shares, closing at 17.99 US cents.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Barita Investments with 6,777 shares, lost 1 cents to end at $2.18, Kingston Wharves traded just 5,000 units at $6.30, with the loss of 20 cents, National Commercial Bank had 17,500 shares changing hands, with a 25 cents cut in price to $17.95, Sagicor Group with 11,325 shares, closed 10 cents less at $9.65 and Sagicor Real Estate Fund had 306,147 units being active, the price fell 2 cents to $6.50.
Preference| Jamaica Money Market Brokers 8.50% preference share traded 87,271 units at $3.45 and Jamaica Money Market Brokers down 7.50% preference share traded 8,660,000 units at $2.
Little gain from NCB’s KWH sale
National Commercial Bank will collect $3 billion for the sale of its 32.59 percent investment in Kingston Wharves, which it executed today, on the Jamaica Stock exchange at $6.50 per share. But the banking group will not see a boost in its profit from the transaction although the shares were purchased at much lower price than what they have been sold at.
At the end of September last year, the investment was booked at $2,705,495 as the group accounted for their share of profit from the time the investment was made some years ago shortly after the banking was taken over by Lee Chin the majority owner of the bank. Since then Kingston Wharves reported profit of $734 million of which $240 million would be attributable to the bank’s holding. That would bring the amount booked up to June this year to $2.945 billion leaving a small difference which is less than the amounts of profit they would have booked had the sale not taken place.
The group will benefit going forward, from funds that it can either lend or invest in other areas. Jamaica will benefit from some foreign exchange inflows, as a result of the sale.
JPG ups Kingston Wharves holding, NCB out
NCB Capital Markets purchased 466,435,712 on behalf of a client. Shares held by the NCB group were part of the transaction. NCB Jamaica Limited had 360,807,145 or 28.27 percent of the company and NCB Capital Markets Ltd. A/C 2231 had 105,283,757 or 8.25 percent. Steven Gooden of NCB Capital Market only comment is “a release will be made after the close of the Jamaica Stock Exchange today”.
The transaction is clearly not one of a name change as that would have been done as a block transaction. As a result of the transaction, Seaboard is acquiring 21 percent and Jamaica Producers 11.59 percent of the outstanding Kingston Wharves shares. Producers will now own approximately 42 percent of the company. Jeffery Hall CEO of Jamaica Producers confirm the groups interest in the deal and advised of a release after trading on the Jamaica Stock Exchange, to provide the full details.
Jamaica Producers Group already owns 431,777,188 or 33.83 percent of the company and would end up with just over 70 percent of the company. The transaction which was mostly done at $6.50 per share or $1.49 above Tuesday closing price cost $3 billion and would effectively trigger a compulsory takeover offer to the minority shareholders if it was all purchased by Jamaica Producers. The transaction took place in three main blocks that were all done at $6.50,and include 300,345,000 units costing 1,952,242,500, 60,462,145 shares costing $393,003,943 and 105,283,757 at a cost of $684,344,421. Apparently, the largest block was sold to more than one party to the transaction and would have been the reason for the split up of it. This arrangement could mean that Jamaica Producer’s Group would not be a majority shareholder and therefore not trigger the take over clause. the increase in the price exceeds the 15 percent rule of the JSE but the stock had closed Tuesday with a bid of $5.75 which was a set up to allow for the traded at todays price.
In 2012,Jamaica Producers had increased their holdings in Kingston Wharves when they bought Three Hundred and Fifty Seven Million Five Hundred and Fifty Thousand (357,550,000) ordinary shares of KWL at a price of $5 per share to help fund the company’s expansion and modernization in pursuit of increased business expected to flow form the Panama canal expansion.
the transaction will boost NCB 2014 earnings as it comes days ahead of the bank’s year end and whatever gains there will be, will be in the incorporated into the results.
2 consecutive down days on JSE
Tuesday’s Activity on the Jamaica Stock Exchange, resulted in the prices of 5 stocks rising and 7 declining, with 22 securities changing hands. A total of 4,797,725 units traded, valued at $27,746,916 in both the main and junior market.
IC bid-offer Indicator| At the end of trading in the main and junior markets, the Investor’s Choice bid-offer indicator, showed 9 stocks with bids higher, than their last selling prices, and 4 stocks with offers that were lower.
Main Market| The JSE Market Index fell 425.48 points to 71,432.21 and the JSE All Jamaican Composite index lost 475.76 points to close at 78,582.39.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Grace Kennedy with 22,436 shares, with 40 cents rise to $58, Jamaica Producers with 1,000,000 shares changing hands, closed 12 cents higher at $15.20 and Radio Jamaica had 13,754 shares changing hands with a gain of 2 cents to $1.04.
Firm| The stocks in the main market to close without a change in the last traded price are, Cable & Wireless contributing 186,952 shares to close at 30 cents, Caribbean Cement with 4,061 units closed at $2.55, Desnoes & Geddes closed at $4.70 with 553,461 shares trading, National Commercial Bank ended at $18 as 53,945 units changed hands and Sagicor Group accounted for 70,007 shares, to close at $9.25.
Declines| The last traded prices of stocks with losses stocks at the end of trading in the main market are, Carreras with 5,864 shares, lost 10 cents to end at $34.30, Jamaica Broilers traded just 2,330 units with a 5 cents loss and closed at $4.40, Jamaica Money Market Brokers with 56,346 ordinary shares changing hands, lost 5 cents to end at $6.95, Pan Jamaican Investment with 3,500 shares trading, ended at $49 after giving up a cent, Sagicor Real Estate Fund exchanged 29,350 units, with a loss of 34 cents to $6.80 and Scotia Group 141,730 shares helped to lop 31 cents off the price to end at $19.09.
Preference| Jamaica Money Market Brokers 7.50% preference share, traded 340,600 units at $2 and Proven Investments 8% preference share traded 15,800 units at $5.05.
Stocks continue upward move on JSE
Thursday’s activity on the Jamaica Stock Exchange, resulted in the prices of 9 stocks rising and 3 declining as 24 securities changed hands, resulting in 6,462,363 units trading, valued at $54,606,207.
Main Market| At the close of the market the JSE Market Index gained 321.86 points to 72,682.82 and the JSE All Jamaican Composite index rose 359.90 points to close at 79,980.79.
Gains| Stocks gaining, with the last traded prices, at the close in the main market are, Jamaica Broilers with 10,500 shares, rising 5 cents to $4.70, Kingston Wharves with 5,250 shares changing hands, lost a cent at $5.01, Sagicor Real Estate Fund had 17,000 shares changing hands, 3 cents higher at $7.14 and Scotia Investments 22,050 shares at 20 cents more at $21.70.
Firm| The stocks in the main market to close without a change in last traded price are, Cable & Wireless with 3,317 units at 30 cents, Carreras 275,340 shares at $34.65, Jamaica Money Market Brokers with 4,525,000 ordinary shares, closed at $6.95, Jamaica Producers with 788 units ended at $15.08, Proven Investments 5,350 ordinary shares closed at 17.99 US cents, Sagicor Group 570,000 shares closed at $9.75 and Supreme Ventures with 31,000 units at $1.95.
Declines| The last traded prices of stocks with losses, at the at the end of trading in the main market are, Grace Kennedy with 1,623 shares, lost $1 to end at $60, National Commercial Bank traded 256,643 units at $17.86, a loss of 4 cents and Scotia Group with 65,819 shares, closed 6 cents lower at $19.20.
Preference| Eppley 9.5% preference share traded units 12,167 at $6.10, Jamaica Money Market Brokers 8.75% preference share put through 30,000 units at $3.01 and Proven Investments 8% preference share, traded 43,500 units at $5.
Junior Market| The JSE Junior Market Index increased 4.01 points to close at 668.07 as 8 stocks traded with 5 advancing and none declining.
Gains| Stocks recording gains at the end of trading in the junior market are, Blue Power traded 121 units 5 cents higher at $9.05, Dolphin Cove 348 shares closed 30 higher at $8.80, General Accident closed with 239,024 shares and gained 5 cents to $1.50, Lasco Financial 172,400 units, increased 1 cent to 98 cents and Lasco Manufacturing had 16,000 units trading 1 cent higher at $1.02.
Firm Trades| Stocks in the junior market that traded to close at the same price as the day before are, KLE with 127,123 shares at $1 and Lasco Distributors with 32,000 shares changing hands at $1.12.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 7 stocks with bids higher than their last selling prices and 7 stocks with offers that were lower.
