The Jamaica Stock Exchange continues to struggle in the early morning session on Wednesday with very moderate trading as investors continue to digest results of companies and the impact of the change in government.
After 75 minutes of the market opening, 27 securities traded, accounting for only 1,657,243 shares changing hands. A total of 7 stocks declined and 10 rose.
The all Jamaica Composite Index dived 1,047.22 points to 170,499.09, the JSE Market Index dropped 937.06 points to 153,498.11, the JSE combined index lost 830.99 points to 162,383.22 and the junior market index rose 5.81 points to 1,953.80.
Lasco Distributors traded steady with 763135 at $5.50, Caribbean Cement rose $1.55 with 104,207 shares to trade at $22.05, JMMB Group traded 254,607 units at $10.50, Jamaica Producers traded 40,581 shares but lost $1 to be trading at $29 and Scotia Investments traded 100,000 to recover from $26.63 at the close on Tuesday to $28.
JSE’s main indices get hit – Wednesday
Juniors slip again on Friday
Lasco Distributors price dropped sharply on Friday.
At the close, 2 securities ended with no bid and 7 securities had no stocks being offered for sale. There were 7 stocks closing with bids that were higher than their last selling prices and none ended with a lower offer.
In trading, Access Financial fell 50 cents while trading 78,424 units to close at $17.50, AMG Packaging rose by 50 cents with 604 units changing hands, to end at $14.50, C2W Music traded 100,000 units and rose 2 cents to be at 45 cents, Caribbean Cream fell by 10 cents while trading 18,220 shares to close at $3.70. Caribbean Producers had 126,206 units changing hands to close at $5, General Accident traded 21,315 units at $2.50 with a gain of 10 cents,
Honey Bun ended with 17,122 units changing hands at $13.80 after rising 20 cents, Knutsford Express closed at $18.51 with 3,500 shares changing hands. Lasco Distributors lost 89 cents and closed with 809,400 units trading to end at $5.06, Lasco Financial rose 3 cents to end at $3.23 with 140,450 shares changing hands, Lasco Manufacturing ended trading with 1,040,376 shares and gained 40 cents to close at $4.35. Medical Disposables traded 22,000 shares to close 11 cents higher, at $3.50 after it traded at an intraday high of $3.70, tTech closed with a gain of 34 cents at $4.85 with 33,593 shares trading and Derrimon Trading preference share traded 125,000 units to close 1 cent lower at $2.15.
JSE dips in early trading
The Jamaica Stock Exchange recorded losses on Wednesday, in the early morning session. 
After 30 minutes of trading the junior market index is down 2.5 percent, well off from Tuesday’s gain of 1 percent, in early trading.
A total of 5 stocks fell and 6 rose as 18 securities have been active with just 500,267 units changing hands. The all Jamaica Composite Index lost 665.05 points to 176,288.59, the JSE Market Index fell 595.09 points to 158,678.61, the JSE combined index fell 1,043.12 points to 168,279.75 and the junior market index dropped 53.35 points to 2,065.80.
The greatest movers so far are Cable & Wireless with a 10 cents gain, Caribbean Cement down $2.98, Sagicor Real Estate Fund down 30 cents and Lasco Manufacturing down 30 cents to $3.70.
Carreras profit up but report wrong
Carreras recorded moderate growth of 6 percent in the December quarter last year with profit after tax of $851 million from $800 million in the similar period in 2014, but the report issued by the company on the Stock Exchange has the September 2014 quarterly as the comparative December figures.
For the nine months to December, profits rose 16 percent to $2.27 billion from $1.97 billion.
Revenues grew for the nine months by 8 percent to $9.3 billion, up from $8.67 billion, while revenues grew 7 percent for the quarter from $3.3 billion to $3.55 billion.
Apart from the improvement in revenues which helped to improve profits, administrative cost were lower in the quarter, falling to $332 million from $512 million and for the nine months to $1 billion from $1.08 billion while Distribution and marketing cost rose moderately in the nine months to $512 million but the quarterly figure jumped from only $76 million to $245 million in 2015.
Cash funds stood at $3 billion but $1.1 billion is due to be paid for corporation taxes but shareholders’ capital $1.98 billion which is down from $3.1 billion at March 2015.
Earnings per share came in at $4.68 for the nine months and $1.86 for the quarter with full year’s earnings heading for $6.70 per share net asset value turns out at $4.05. The stock last traded at $66 on the Jamaica Stock Exchange on Friday for a PE of 10.
The company will be paying an interim dividend of $1.80 per share to shareholders on March 17 and brings the total dividend in the last twelve months to $8.94.
Juniors down 5% as JSE retreats
The Jamaica Stock market retreated in the morning session on Thursday but the junior market fell sharply by more than 5 percent as Lasco Manufacturing was pulled back $1.10 to $3.90. Lasco Distributors traded 1,035,826 while dropping 60 cents to $7.20 which would have pulled down the index by a sizable amount while Caribbean Producers that traded 140,190 units slipped by 50 cents to $5.
The juniors are not the only one to suffer a fall as the major fell close to 900 points and the combined market by more than 2,200 points. After 90 minutes of trading, the all Jamaica Composite Index fell 1,393.59 points to 178,641.56, the JSE Market Index dropped 1,247.00 points to 160,784.07, the JSE combined index dived 2,205.87 points to 170,851.08 and the junior market index fell 114.04 points to 2,130.64. In trading, 33 securities were active and accounted for 3,272,579 units changed hands with 14 stocks rising and 8 falling.
Scotia Group traded 7,160 units with the price falling by $1 to $31, Proven Investments ordinary shares climbed back from 20 us cents to 22.98 US cents in trading 645,989 units and Jamaica Broilers traded at with 153,671 shares but dropped $2.05 to end at $13.50. Mayberry Investments have put up 20 million Radio Jamaica shares for sale at $5 each.
JSE to host investment conference
The Jamaica Stock Exchange INVESTMENTS & CAPITAL MARKETS CONFERENCE 2016, will be held at the Jamaica Pegasus Hotel on Monday, January 18, to Wednesday, January 20 and comes against the background of the exchange being rated as the best performing global exchange in 2015, with gains over 100 percent for the year.
The conference with its theme “Positioning the Caribbean in the International Arena” will cover the following topics:the UK an Invaluable Trading Partner: Going Beyond Traditional Exports and Identifying Higher Value Products and Services. Building and Deepening the Caribbean, Cuban Relationship in the Areas of Education, Health and Tourism. Investing in and Training the Labour Force is the Conduit for Growth in the Caribbean. Start, Run and Grow Your Business. Confronting the Challenges of Climate Change: Protecting the Caribbean Water Resources as an Economic Strategic Advantage. The Caribbean as an Ideal Sports Destination. New Approaches to Funding Ideas Regionally – Crowd Funding the Newest Rage. Venture Capital Pitch Room for Entrepreneurs and Innovators.
JSE continues in positive mode
The Jamaican stock market is off to more measured trading, early Wednesday with all major indices recording gains in mid-morning trading but leading to a number of stocks recording new 52 weeks’ highs up to 10.45 am. A total of 33 securities traded amounting to 1,556,075 units changing hands with 14 rising, while 9 declined.
The all Jamaica Composite Index rose 661.58 points to 169,133.35 the 
JSE Market Index gained 591.99 points to 152,276.03 the JSE combined index added 8601.65 points to 160,235.23 and the junior market index is up 4.76 points to 1,843.75.
Trading volumes were generally low, but there have been some interest in a number of stocks including Cable & Wireless with 186,335 shares trading at $1.35, Gleaner trading 262,000 units at $2.50, Jamaica Stock Exchange with 37,839 units at $18.60, JMMB Group with 72,026 units trading at $10.45, National Commercial Bank with 5,168 units at a new high of $41, Radio Jamaica at $4.50 with 24,280, Cargo Handlers trading at a new high of $37.65 with 126 shares, C2W Music at 43 cents for a new 52 weeks’ high with 47,290 shares changing hands, Caribbean Cream with 54,293 units at $3.89, General Accident with 79,400 units at $2, Lasco Distributors with 3,538 shares trades at a new high of $5.72 and Lasco Manufacturing with 641,051 units at $3.50 after trading earlier at $3.60.
BUY RATED top Carib markets with 830%
The JSE stock racked up huge gains in 2015
IC BUY RATED stocks were top of the Caribbean markets in Jamaica and Trinidad and Tobago for 2015, with Jamaica Stock Exchange share, chalking up a massive gain of 830 percent since IC Insider elevated it to BUY RATED status.Caribbean Cement followed with gains of 640 percent, Caribbean Cream with 444 percent and Trinidad Cement with a 299 percent increase on the Trinidad market.
While it was easy to make money in Jamaica, with profits rising and interest rates falling, developments in Trinidad went in the opposite direction, with interest rates rising and profits under pressure with the economy ended in recession.
At the beginning of 2015 of the 14 junior market selections, few recorded gains and only Knutsford Express with a 17 percent increase reflecting any meaningful positive movement. Losses were large, with AMG Packaging down 39 percent, Blue Power 31 percent, Caribbean Cream 23 percent, Jamaica Teas 28 percent, Lasco Financial 37 percent and Lasco Manufacturing 32 percent. What a difference a year can make? By the end of 2015, gains were all over the place with the list having 17 companies with two being dropped. There were no losing stocks in the list that had a new addition, tTech which could be listed this week. Honey Bun was added to the listing in November and gained 9 percent since. Eight stocks have more than doubled, four gained 40 percent to 91 percent. Caribbean Cream jumped 292 percent to be the top selection in this market, followed by Lasco Distributors up 274 percent. Blue Power was removed from the list in July with a small gain.
In the JSE main market, at the start of 2015, Hardware and Lumber was the best performing stock with gains of 62 percent followed by Cable & Wireless with 47 percent and Jamaica Broilers had the worst performance with a loss of 24 percent. In all, 7 of the 15 selections were lower than at the time they were BUY RATED.
By year-end, all selections in the JSE main market were up, with Scotia Investments having a mere 15 percent increase, being the poorest performer. This stock is being moved to Market Watch as the 2015 profit performance was far too disappointing to warrant buying now, while Hardware and Lumber remains a hold. The rest, present opportunities for continuing profit making. 
JMMB Group ended with just 28 percent gain, but seems undervalued at the current price. While the list had a few lousy performers, the same can’t be said about a 640 percent gain in Caribbean Cement and 830 percent increase for Jamaica Stock Exchange share. In all, 9 stocks posted gains in excess of 100 percent and 4 below 100 percent but with a 50 percent increase and more.
There were 13 selections in the Trinidad market with Trinidad Cement being the best performer with gains of 150 percent, the next was Point Lisas with 11 percent at the start of 2015. Five stocks suffered losses with the highest being 22 percent and the next 18 percent. For 2015 the price of Trinidad Cement is up 299 percent followed by National Flour with a 59 percent gain.
Looking ahead, the junior stocks should continue to grow, with several of the companies actively expanding resulting in profits climbing at a fast pace. There are a few stocks to be cautious of just now. Lasco Distributors selling at almost 16 times 2016 March earnings. Growth should be strong but unless investors have a long term objective they should be careful buying at current price level, the same applies to Lasco Financial that is selling at 15 times earnings. Dolphin Cove remains a hold at this time.
The Trinidad market needs to be watched at this stage, with the country needing to adjust to the lower price of oil and the recession now being endured.
26 stocks rose over 100%
The Jamaica stock market ended a momentous 2015 with the overall market doubling, aided by a 160 percent in the junior market to land the Jamaican market as the leader in the world in 2015. At the close, all three main market indices made huge gains to reach new record highs.
The JSE combined market index recorded gains of 102 percent for the year, the all Jamaica composite up 99 percent with the JSE Market Index climbing 97 percent.
In a year when just about anyone could use a dart to pick winning stocks out of the 51 securities that rose with gains ranging from a low of 1 percent to a high of 1,086 percent. Five stocks fell up to 17 percent and one ended with the price unchanged. A total of 25 securities rose by 103% or more and 16 between 50% and 95 percent.
After nearly 11 years passed, with the market not rising above the record set in 2005, the record was finally broken in the second half of 2015 as an announced takeover offer for the shares of Desnoes and Geddes helped push the market to new highs, but it was more than that. Treasury bill rates peaked at 9 percent in March 2014, falling to 6 percent by the end of 2015 was a major catalyst in igniting prices higher, aided by some strong increases in profit of a wide range of companies. The top 15 performing stocks for 2015 are those in the table. The Jamaica Stock Exchange delivered a stunning 1,085 percent gain for investors that were invested in the stock from the start of the year, followed by Pulse Investments with 757 percent and Caribbean Cement with 726 percent.
JSE stock gained 1,085% in 2015
With the level of gains in 2015, the PE ratio of the market rose sharply to an average around 10 times 2015 earnings. Some stocks are selling above the average. Interest rates on Treasury bills are around 6 percent but that should fall in 2016 and will result in higher PE ratios as stocks become more attractive as an investment means than before. The local economy grew 1.5 percent in the September quarter, much higher than the previous two quarters, suggesting potential for higher growth levels in 2016, if so corporate profits should continue to grow, hence 2016 should be seeing continuation of the market growing.
With data going back to the start of the Jamaica stock market, indicating that on average only 2 out of the top 10 stocks in a year repeat that performance in the subsequent year, investors should be looking outside the top 10 performing stocks for big winners in 2016. Of the top ten ones that could do very well are Pulse, Caribbean Flavour, Honey Bun. Jamaica Stock Exchange should continue to see attractive gains, with increased stock market activities in 2016. That should mean more revenues and profits, but it will be difficult to see them in the top 10. With the company paying a high level of dividends, investors could see the stock as very attractive for income and thus drive the price higher than profits may suggest is possible.
JSE gains over 1,000 points on Monday
The JSE stock traded at a new 52 weeks’ high of $19 on Monday and gained over 1,100% for 2015
The JSE Market Index climbed 1,000.11 points to 143,358.95, the all Jamaica Composite Index rose 1,117.69 points to end at 159,168.01 and the JSE combined index recovered 1,122.82 points to close at 149,895.32. Notwithstanding today’s gains, the main market faces the next test at 165,000 points level, on the all Jamaica composite index.
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 13 stocks with bids higher than their last selling prices and 3 with lower offers.In trading, Barita Investments traded 14,770 units at $3.80, Cable and Wireless gained 5 cents and closed with 627,319 units changing hands at $1.33, after trading as high as $1.45, Caribbean Cement gained 60 cents and closed trading at $18.60, with 22,709 shares changing hands. Carreras rose 90 cents and closed at $57 with 208 units trading, Ciboney traded at 22 cents at the close with 459,210 units changing hands after losing 4 cents. The stock traded at an intraday high of 29 cents. Gleaner traded 30,760 units at $1.40, Grace Kennedy ended with 91,743 units changing hands, to finish with a fall of $1.50 at $76.50, Jamaica Broilers jumped $1.49 in trading 146,083 shares, to close at a 52 weeks’ high of $9.99.
Jamaica Producers lost $2 in trading 16,022 units at $28, Jamaica Stock Exchange shares traded 12,050 units at $18.99 for a new closing 52 weeks’ high, with 1,110 percent gain since the start of the year. National Commercial Bank rose 5 cents and ended at $38.05 with just 4,637 units changing hands, Pulse Investments traded 39,414 shares with a rise of 4 cents to close at $2.30, Radio Jamaica lost 26 cents and landed at $3.80 with 2,342 shares trading, Sagicor Group with 51,550 units changing hands ended at $17 after rising 46 cents. Scotia Group lost 50 cents with 27,248 shares changing hands and ended at $28.50, Scotia Investments climbed $3 with 20,242 units trading and closed at $30 and Supreme Ventures fell 20 cents and ended at $4.65 with 83,530 units changing hands.
