Sharp rise in Junior Market trading

November 19, 2019 by

Trading on the Junior Market surged on Tuesday with an exchange of 12,854,412 units amounting to $57,700,892, compared to 1,518,746 units valued $8,756,192 on Monday as 29 securities changed hands, down from 34 on Monday.
At the close, the market index rose 14.97 points to close at 3,308.39 after pushing the prices of 10 securities lower and 8 higher while leaving the prices of 11 unchanged and the market’s PE at 13.8.
Trading ended with an average of 443,256 units for an average of $1,989,686 in contrast to 44,669 units for an average of $257,535 on Monday. The average volume and value for the month to date amounts to 135,292 shares at $667,284 and previously 109,101 shares at $554,821, for each security traded. In contrast, October closed with an average of 186,927 units valued at $788,734 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator with 2 stocks ending with bids higher than their last selling prices and 5 with lower offers.
At the close of the market, Access Financial ended with a loss of $1 cent and ended at a 52 weeks’ low of $29 with 13,900 stock units changing hands, AMG Packaging climbed 17 cents and exchanged 365,511 shares at $2.07, Blue Power closed trading of 14,431 units and gained 19 cents to end at $7. Caribbean Flavours ended with a loss of 1 cent at $12.30 with 10,387 stock units changing hands, Consolidated Bakeries shed 20 cents in trading of 3,500 units at $1.60, Dolphin Cove lost 40 cents in exchanging 100 shares to close at $10.50. Elite Diagnostic lost 25 cents as 369,485 units crossing the exchange at $5.25, Everything Fresh closed with a loss of 8 cents at $1.02, in the swapping of 208,000 shares, Express Catering traded 131,780 shares, after rising 30 cents to end at $6.30, Fosrich ended with 7,492 shares changing hands, after rising 5 cents to end at $4.75. Fontana closed 16 cents higher at $7, with 137,572 stock units trading, General Accident climbed $1.50 to end at $8 with an exchange of 46,000 stock units, GWest Corporation closed with a loss of 3 cents at 95 cents, in swapping of 4,342 shares, iCreate fell 9 cents in trading of 28,984 units at 60 cents. Jetcon Corporation lost 13 cents with a transfer of just 11,000 shares to close at $1.80, Lasco Distributors climbed 57 cents and inn exchanging 7,112,148 shares at $3.90, Lasco Financial shed 12 cents in trading of 27,655 units at $4.18, Lasco Manufacturing closed trading of 312,553 units and gained 20 cents to end at $5.25.

Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

JSE main market drop

November 18, 2019 by

The major indices on the Jamaica Stock Exchange lost more ground on Monday following Friday’s 5,000 points fall as trading resulted in lower volumes and higher value passing through the market, with investors having some new stock offers in which to invest.
At the close of trading, the All Jamaican Composite Index shedding 3,914.87 points to close at 547,614.48, while the JSE Index dropped 3,497.38 points to 498,675.40 and the JSE Financial Index lost 1.38 points to close at 134.92.
The market closed with 40 securities changing hands in the main and US dollar markets with 7 rising, 21 declining and 12 closing unchanged. Main market activity ended with 37 securities accounting for 26,997,864 units valued at $314,531,311 in contrast to 43,823,390 units for $226,040,673 on Friday, from 33 securities.
Sagicor Select Funds dominated trading with 12.4 million shares for 46 percent of total volume, followed by Wigton Windfarm with 7 million units accounting for 25.8 percent of the day’s trade and Jamaica Broilers with 2.3 million shares and 8.4 percent. QWI Investments traded 1.2 million shares and Sagicor Group 1 million units to be the other entities trading more than a million shares.
The market closed with an average of 729,672 units valued at an average of $8,500,846 for each security traded. In contrast to 1,327,982 units for an average of 6,849,717 on Friday. The average volume and value for the month to date amounts to 533,330 units valued at $4,098,200 and previously, an average of 516,075 units valued at $3,676,184 for each security changing hands. The market closed out October with an average of 957,488 units valued at $13,947,047 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 9 stocks ending with bids higher than their last selling prices and 7 with lower offers. The PE ratio of the market ended at 17.3, with the main market stocks ending at 18 times 2019 current year’s earnings.
In main market activity, Barita Investments closed 70 cents lower to $70.30 in trading 3,527 shares, Berger Paints dropped $1 to settle at $17, after exchanging 57,618 units, Caribbean Cement lost 50 cents swapping 180,833 shares, to end at $75. Carreras gained 44 cents to close at $8.74, with 51,623 shares changing hands, Eppley closed $1.84 lower to $14.16 with 1,310 units crossing the exchange, Grace Kennedy dropped $2 in ending at $63 and trading 38,275 shares, Jamaica Broilers slid $2 and closing at $33 with of 2,264,273 shares changing hands. Jamaica Stock Exchange dropped $4.80 to settle at $28.20, after swapping 329,832 shares, following the release of nine results last week, showing the stock price to be overly extended, at a PE ratio of well over 30. Kingston Wharves fell 50 cents to $60 with 2,974 units changing hands, Mayberry Investments lost $2 to close at $8, with 300,000 units traded, Mayberry Jamaican Equities ended the day’s trade at $11.25, after losing 75 cents with an exchange of 4,126 units. NCB Financial gained to close at $210 after trading 240,157 units, Sagicor Real Estate Fund added 50 cents to end at $11.30 with 35,054 shares crossed the exchange, Scotia Group declined 55 cents to end at $55, in trading 379,879 shares. Stanley Motta lost 55 cents to close at $5.45, with 2,000 shares crossing the exchange, Supreme Ventures ended at $26, falling 50 cents and trading 48.778 units, ending the day’s trade at $23 and Wisynco Group settled at $23 after falling 50 cents and previously trading as high as $26, early in the trading session with 616,356 shares changing hands. The increased interest comes as reports are that the company is enjoying strong sales in the final quarter of the year.
Trading in the US dollar market closed with 475,526 units valued at US$135,657, with the market declining 13.24 points to close at 208.70. Proven Investments gained 2.5 US cents to close at a 52 weeks’ closing high of 33 US cents after exchanging 445,794 units, Sterling Investments closed at 2.2 US cents after falling 0.2 US cents in trading 22,803 units and Sygnus Credit Investments closed at 14 US cents with 6,929 units changing hands.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Junior Market in deep dive

November 18, 2019 by

Investors drove the Junior Market Index down 67.60 points to close at 3,293.42 on Monday after pushing the prices of 20 securities lower and just 4 higher while leaving the prices of 10 unchanged and the market’s PE at 14.3.
The decline is consistent with the market movement in the past with the advent of new initial public offerings on the market as investors seek funds to buy into them. Currently, there are five offerings to sell shares in the market.
The number of securities changing hands rose to 34 from 30 on Friday, resulting in an exchange of 1,518,746 units valued $8,756,192, compared to 5,647,257 units amounting to $26,657,444 on Friday.
Trading ended with an average of 44,669 units for an average of $257,535 in contrast to 188,242 units for an average of $888,581 on Friday. The average volume and value for the month to date amounts to 109,101 shares at $554,821 and previously 116,237 units at $587,745, for each security traded. In contrast, October closed with an average of 186,927 units valued at $788,734 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator with 3 stocks ending with bids higher than their last selling prices and 3 with lower offers.
At the close of the market, Access Financial ended with a loss of $1 and ended at a 52 weeks’ low of $30 with 10,900 stock units changing hands, AMG Packaging fell 10 cents in trading of 3,780 units at $1.90, Blue Power swapped 3,780 shares and declined 59 cents to settle at $6.81. Caribbean Flavours shed 9 cents in trading of 8,000 units at $12.31. Cargo Handlers ended market activity exchanging 6,007 shares to close at $10.05 after falling 45 cents. Caribbean Producers lost 5 cents in trading 57,760 shares to close at $4.70, Derrimon Trading closed 2 cents higher at $2.57, with 77,361 stock units trading, Everything Fresh added 8 cents and exchanged 114,425 shares at $1.10, Express Catering shed 30 cents in trading of 11,734 units at $6. Fontana exchanged 294,026 and declined by 16 cents to settle at $6.84, General Accident dropped $1.50 in trading 68,119 shares to close at $6.50, GWest Corporation dipped 2 cents with 2,942 units changing hands at 98 cents, Honey Bun closed with a loss of 50 cents at $6.50, in swapping of 4,213 shares. iCreate ended trading with 14,000 shares, after rising 1 cent to end at 69 cents, Iron Rock Insurance fell 10 cents in trading of 40,000 units at $3.50, ISP Finance ended market activity exchanging 360 shares to close at $32.90 after falling 9 cents. Jetcon Corporation shed 6 cents trading 18,227 units at $1.93, Lasco Distributors declined 28 cents with 19,163 units crossing the exchange at $3.33, Lasco Financial ended market activity exchanging 67,025 shares to close at $4.30 after falling 15 cents. Lasco Manufacturing lost 15 cents in trading 36,574 shares to close at $5.05, Main Event closed trading of 6,189 units and gained 26 cents to end at $5.90. Medical Disposables ended market activity exchanging 25,000 shares to close at $6.75 after falling 25 cents, Paramount Trading shed 2 cents in trading of 1,000 units at $1.85 and Stationery and Office Supplies lost 20 cents in trading of 113,564 units to close at $11.

Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Junior Market stable – Friday

November 15, 2019 by
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Junior Market Index closed trading on Friday with the prices of 10 securities advancing, 15 declining and 5 remaining unchanged, leading the Junior Market Index to eke out a minor rise of 0.72 points to close at 3,361.02.
On Friday, 30 securities changing hands, resulting in an exchange of 5,647,257 units valued at $26,657,444, compared to 3,576,032 units valued at $15,984,300 from 28 securities on Thursday.
Trading ended with an average of 188,242 units for an average of $888,581 in contrast to 127,715 units for an average of $570,868 on Thursday. The average volume and value for the month to date amounts to 116,237 shares at $587,745 and previously 108,439 shares at $555,164, for each security traded. In contrast, October closed with an average of 186,927 units valued at $788,734 for each security changing hands.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator with 3 stocks ending with bids higher than their last selling prices and 4 with lower offers.
At the close of the market, Access Financial fell 60 cents to settle at 52 weeks’ low of $31 with 4,220 shares changing hands, Blue Power traded 400 shares, after rising 40 cents to end at $7.40, Caribbean Flavours lost $2.10 in trading 17,760 units at $12.40, Caribbean Producers added 5 cents in exchanging 510,474 shares at $4.75. Dolphin Cove shed 10 cents trading 9,000 units at $10.90, Derrimon Trading declined by 5 cents to settle at $2.55 after 72,200 shares crossed the market, Elite Diagnostic lost 20 cents in trading of 11,259 units at $5.50, Everything Fresh shed 21 cents in trading of 53,433 units at $1.02. Fosrich declined by 19 cents in trading of 23,627 units to close at $4.70, Fontana fell 20 cents exchanging 60,495 units at $7, General Accident ended trading with 553,622 shares, after rising 20 cents to end at $8. Honey Bun traded 66,789 units and gained 55 cents to end at $7. iCreate lost 1 cent in closing at 68 cents with 40,500 stock units changing hands, Indies Pharma gained 29 cents to close at $3.35, with 1,878,500 stock units passing through the market. Iron Rock Insurance lost 10 cents in transferring 1,000 units at $3.60, ISP Finance closed at $32.99 after jumping $2.99 in trading 1,000 shares. Jamaican Teas climbed 37 cents and exchanged 1,150,008 shares at $6.30 after reporting strong full-year results, Key Insurance fell 20 cents in trading of 1,800 units at $3.30. Lasco Distributors ended trading with 568,151 shares, and rose 31 cents to end at $3.61, Lasco Manufacturing climbed 20 cents and exchanged 362,459 shares at $5.20, Limners and Bards fell 16 cents in trading of 25,784 units at $2.72, Main Event lost 48 cents with 2,114 units crossing the exchange at $5.64. Medical Disposables closed trading of 1,290 units and gained 30 cents to end at $7, Paramount Trading shed 13 cents in trading of 37,100 units at $1.87 and tTech lost $1.40 in trading 18,689 shares to close at $5.50.

Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

JSE main market drops

November 15, 2019 by

The major indices on the Jamaica Stock Exchange tumbled on Friday, erasing some of the gains made in the week to Thursday but still leaving the market ahead of the close of the previous week.
The All Jamaican Composite Index plunged 5,180.13 points to close at 551,529.35, the JSE Index dropped 4,693.76 points to 502,172.78 and the JSE Financial Index lost 1.50 points to close at 136.30.
The market closed with 35 securities changing hands in the main and US dollar markets with 14 advancing, 15 declining and 6 trading firm. Main market activity ended with 33 securities accounting for 43,823,390 units valued at $226,040,673 in contrast to 24,330,188 units valued at $89,041,566 on Thursday from 36 securities.
Wigton Windfarm dominated trading with 31.4 million shares for 72 percent of total volume, followed by Sagicor Select Funds with 5.5 million units accounting for 13 percent of the day’s trade and QWI Investments with 2.2 million shares and 5 percent. Wisynco Group was the only other stock trading over 1 million shares in the main market.
The market closed with an average of 1,327,982 units valued at an average of $6,849,717 for each security traded, in contrast to 675,839 units for an average of 2,473,377 on Thursday. The average volume and value for the month to date amounts to 516,075 units at $3,676,184 and previously, an average of 447,021 units valued at $3,379,509 for each security changing hands. The market closed out October with an average of 957,488 units valued at $13,947,047 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 13 stocks ending with bids higher than their last selling prices and 3 with lower offers. The PE ratio of the market ended at 17.3 with the main market ending at 18 times 2019 current year’s earnings.
In main market activity, Berger Paints lost 40 cents, in swapping 6,363 units to close at $18, Carreras declined 45 cents to settle at $8.30, with 213,783 shares traded, Grace Kennedy closed $2 lower at $$65 exchanging 233,978 shares, Jamaica Broilers dropped $1.42, ending the day’s trade at $35 with 171,913 shares changing hands. Jamaica Stock Exchange settled at $33, after losing $1.56 in trading 141,471 shares, Kingston Properties gained 40 cents trading 2,520 shares, to end at $5.70, Kingston Wharves closed 50 cents lower to $60.50 with 32,705 units changing hands. Mayberry Investments climbed $2.60 to $10, with 327,682 units traded, NCB Financial dived $8.08 to close at $205.02, after exchanging 234,135 units, Portland JSX gained 40 cents to end at $8.50 with the transfer of 585 units, Proven Investments dropped $1.75 to $45.25, with 13,942 shares changing hands. Pulse Investments closed 30 cents lower to $4.10 trading 46,222 shares. Seprod closed $1 lower to $50.53, with 396,704 shares crossing the exchange, Sygnus Credit Investments gained $1.55 swapping 88,532 units and ending at $23 and Wisynco Group added 50 cents settled at $23.50, with 1,030,907 shares changing hands.
Trading in the US dollar market closed with 341,750 units valued at US$113,637 with the market advancing 11.60 points to close at 221.94. Proven Investments gained 0.5 US cents traded 336,750 units at a 52 weeks’ high of 30.5 US cents, after hitting a high of 35 cents before closing and Sygnus Credit Investments closed at 14 US cents with 5,000 units changing hands.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Sizable gains for JSE main market

November 14, 2019 by

Market activity on the Junior Market resulted in the major indices recording more gains on Thursday and bringing the increase for the week to 11,719.17 points as the market continues to recover from its 42,772.34 fall from the peak in early August.
The market closed with the All Jamaican Composite Index climbing 2,648.71 points to 556,709.48, the JSE Index advancing 2,402.96 points to 506,866.54 and the JSE Financial Index posting 0.66 points to end at 137.80.
The market activity led to 38 securities changing hands in the main and US dollar markets with 14 advancing, 13 declining and 11 trading firm. Main market activity ended with 36 securities accounting for 24,330,188 units valued at $89,041,566 in contrast to 20,477,665 units valued at $53,408,633 on Wednesday from 33 securities.
Sagicor Select Funds dominated trading with 10.8 million shares for 44 percent of total volume, followed by Wigton Windfarm with 7.8 million units accounting for 32 percent of the day’s trade and QWI Investments with 4 million shares and 16 percent. 1834 Investments closed at a 52 weeks’ high of $1.25 after trading at $1.26 earlier, while Proven Investments US dollar listed stock traded at a 52 weeks’ high of 30.5 US cents.
The market closed with an average of 675,839 units valued at an average of $2,473,377 for each security traded, in contrast to 619,626 units for an average of 1,618,443 on Wednesday. The average volume and value for the month to date amounts to 447,021 units valued at $3,379,509 and previously, an average of 423,619 units valued at $3,482,413 for each security changing hands. The market closed out October with an average of 957,488 units valued at $13,947,047 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 10 stocks ending with bids higher than their last selling prices and 6 with lower offers. The PE ratio of the market ended at 17.1, with the main market ending at 17.8 times 2019 current year’s earnings.
In main market activity, Caribbean Cement traded 5,290 stock units and closed at $75.50, after losing $1.49, Eppley Caribbean Property Fund gained $1 to settle at $36, with 9,750 shares changing hands, Grace Kennedy closed $1 higher to $$67, in swapping 12,774 units. Jamaica Broilers added 62 cents to close at $36.42, trading 12,749 shares, Jamaica Producers lost 39 cents to end at $24.05, with an exchange of 11,146 shares, Jamaica Stock Exchange lost 44 cents to settle at $34.56 after 21,889 stock units passed through the market. Kingston Properties lost 62 cents while trading 1,680 units, to end at $5.30, Kingston Wharves gained $1 to close at $61 with 820 shares changing hands, Mayberry Investments closed 70 cents lower to $7.40, with 8,910 units traded, Mayberry Jamaican Equities lost 30 cents to end at $12 exchanging 5,350 shares. NCB Financial ended at $213.10, after rising $1.10 with a transfer of 131,716 units, Portland JSX closed at $8.10, after losing 40 cents with 100 units trading, Salada Foods dropped $1, in ending at $29 with 500 units crossing the exchange. Seprod rose by $1.03 to $51.53, with 8,274 shares changing hands, Supreme Ventures gained 49 cents, ending the day’s trade at $26.49 with 76,054 shares traded, Victoria Mutual Investments closed 30 cents higher to settle at $8.30, with 272,572 shares changing hands and Wisynco Group lost 50 cents to close at $23, with 57,193 shares crossing the exchange.
Trading in the US dollar market closed with 5,449,518 units valued at US$1,638,052 with the market adding 1.77 points to close at 210.34. Proven Investments traded 5,306,625 units at 30 US cents and Sygnus Credit Investments closed at 14 US cents with 142,893 units changing hands.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Big drop for Junior Market – Thursday

November 14, 2019 by

Junior Market Index dropped 38.60 points to close at 3,360.30 at the close of trading on Thursday with the prices of 7 securities rising, 13 declining and 8 remaining unchanged.
Similar to Wednesday, investors traded in 28 securities on Thursday, resulting in an exchange of 3,576,032 units valued at $15,984,300 compared to 4,967,518 units valued at $25,373,913 on Wednesday.
Trading ended with an average of 127,715 units for an average of $570,868 in contrast to 177,411 units for an average of $906,211 on Wednesday. The average volume and value for the month to date amounts to 108,439 shares at $555,164 and previously 97,258 shares at $528,565, for each security traded. In contrast, October closed with an average of 186,927 units valued at $788,734 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator with 2 stocks ending with bids higher than their last selling prices and 5 with lower offers.
At the close of the market, Access Financial lost 40 cents to settle at $31.60 with 3,903 shares changing hands, AMG Packaging climbed 10 cents and exchanged 233,120 stock units at $2, Blue Power declined by 90 cents in trading 48,548 units at $7. CAC 2000 transferred 1,000 stock units and dropped $1.50 to settle at $11. Caribbean Cream inched just 1 cent higher in exchanging 257,455 shares at $4.06, Dolphin Cove ended market activity in transferring 500 shares to close at $11 after falling 75 cents. Elite Diagnostic closed 20 cents higher at $5.70, with 425,228 stock units trading, Everything Fresh ended with 50,944 shares changing hands, after rising 9 cents to end at $1.23. Express Catering lost 40 cents in trading 69,050 stock units to close at $6.30. Fontana lost 25 cents to close at $7.20 with investors switching ownership of 201,386 units, General Accident dipped 5 cents with 25,900 units changing hands at $7.80. Indies Pharma lost by 6 cents in trading 847,485 units at $3.06, Jamaican Teas ended market activity in exchanging 344,273 shares to close at $5.93 after falling 27 cents, Jetcon Corporation traded 25,300 shares, after rising 19 cents to end at $1.99, Lasco Distributors dipped 10 cents with 77,810 units crossing the exchange at $3.30. Lasco Financial shed 84 cents in trading 112,401 units at $4.45, following the release of the second-quarter results with a loss of $16 million in the quarter after making a loan loss provision of $180 million in the quarter, Limners and Bards fell 6 cents in trading 200,891 units at $2.88. Medical Disposables declined 30 cents to settle at $6.70. Paramount Trading climbed 15 cents and exchanged 10,694 shares at $2 and Stationery and Office Supplies ended trading 84,263 stock units after rising 17 cents to close at $11.20.

Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

MailPac Group IPO gains IC buy rating

November 14, 2019 by

Mail Pac Group and shareholders are selling 500 million shares at $1 each to raise $500 million with the offer opening on November 22. Applications from the general public must be for a minimum of 10,000 shares.  
The general public will be allowed to purchase just 6 percent or 150 million of the total issued share capital of 2.5 billion units that will be issued, following the close of the issue.
MailPac Group was formed late in 2019 and acquired Mailpac Services Limited and Mailpac Local Limited from Norbrook Equity Partners, majority shareholders, to amalgamate both logistics platforms into one operating business.
Profit is expected to reach $282 million in the 12 months to December this year based on results of the business operations for 2019 and will result in 14 cents earnings per share and a PE ratio of just seven times 2019 earnings and compares favourable with the average for the Junior Market of over 12 .5.
The company projects a profit of $317 million in 2020, but IC Insider.com is forecasting $356 and 14 cents per share. The stock receives the coveted IC Insider.com Buy Rated grading, with the price doubling by 2020.
The company enjoyed growth in revenues of 12.2 percent in 2017 and 25.7 percent in 2018 and 28.8 percent for the first half of 2019.
Before the acquisition mentioned above, the businesses in 2018 grew revenues to $969 million and $851 for the first three-quarters of 2019. Net income for the same periods was $213 million and $203 million, respectively. Mailpac Local Limited operated for seven months in 2018.
The Company intends to apply to the JSE for listing on the Junior Market subject raising at least $495 million. Proceeds are for general corporate purposes, including working capital and capital expenditure re and to settle existing debt obligations the selling shareholder assumed on behalf of the Company.
According to the company, Mailpac Services offers over 20 years of expertise in e-commerce fulfillment. With a rapidly growing client base of over 50,000 consumers in Jamaica, the business, a technological fulfillment platform for anyone shopping online. MGL’s core offering provides clients with physical addresses in Miami, Florida, where they can receive all goods purchased from international providers. Deliveries to the 55,000 square foot Florida warehouse are flown to Jamaica by a third-party cargo plane. MGL clears all items and delivers them to the customers at their homes or businesses or customers may collect packages at any of the company’s eleven stores islandwide.
The directors of the company are Khary Robinson, Executive Chairman, Mark Gonzales Executive Director & CEO, Garth Pearce Director, William Craig Independent, Non-Executive Director Tracy-Ann Spence Independent, Non-Executive Director. In the interest of good corporate governance, the board would do well to appoint an independent non-executive director as the chairman.

Filed Under: Buy Rated, Initial Public Offers Tagged With: , , , , , ,

Junior Market trading jumps – Wednesday

November 13, 2019 by

Junior Market trading closed with 28 securities changing hands on Wednesday, resulting in an exchange of 4,967,518 units valued at $25,373,913, compared to 1,312,567 units valued at $6,552,084 from 29 securities Passing through the market on Tuesday.
At the close of market activities, the prices of 10 securities advanced, 12 declined and 6 remained unchanged. The Junior Market Index advanced by 14.05 points to close at 3,398.90.
Trading ended with an average of 177,411 units for an average of $906,211 in contrast to 45,261 units for an average of $225,934 on Tuesday. The average volume and value for the month to date amounts to 97,258 shares at $528,565 and previously 97,258 shares at $528,565, for each security traded. In contrast, October closed with an average of 186,927 units valued at $788,734 for each security.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator with 4 stocks ending with bids higher than their last selling prices and 3 with lower offers.
At the close of the market, Access Financial ended trading with 7,121 shares, after rising 50 cents to end at $32, Blue Power closed with a loss of 5 cents at $7.90, in the swapping of 2,429 stock units, Caribbean Flavours dropped $3.50 while exchanging just 1,000 shares at $14.50. Caribbean Producers traded 3,377,581 shares and declined by 10 cents to settle at $4.70, Derrimon Trading ended market activity exchanging 128,184 shares to close at $2.60 after falling 9 cents, Dolphin Cove climbed to $11.75 after a gain of $1.25 with 96,722 shares changing hands. Everything Fresh fell 1 cent to $1.14 with 10,000 stock units crossing the exchange, Express Catering climbed 30 cents and exchanged 11,971 shares at $6.70, Fosrich closed trading of 11,962 units and gained 19 cents to end at $4.89. GWest Corporation traded 5,000 shares, after rising 20 cents to close at $1, Honey Bun fell 14 cents to $6.45, after swapping of 5,500 shares, Indies Pharma gained 2 cents to close at $3.12, with 101,118 stock units trading, ISP Finance lost $3 in trading 2,200 shares to close at $30. Jamaican Teas dipped 2 cents in trading of 13,261 units at $6.20, Lasco Distributors shed 18 cents in trading of 318,006 units at $3.40, Lasco Financial closed 29 cents higher at $5.29, with an exchange of 15,000 stock units. Lasco Manufacturing lost 20 cents in trading of 64,065 units at $5, Limners and Bards ended market activity exchanging 662 shares to close at $2.94 after falling 4 cents, Main Event ended trading with 19,340 shares, after rising 77 cents to end at $6.12. Stationery and Office Supplies ended market activity exchanging 212,491 shares to close at $11.03 after falling $1.47 and tTech ended trading with 34,206 shares, after rising 60 cents to end at $6.90.
In the Junior Market preference segment, CAC2000 closed 2 cents higher at $1.10, with 9,800 stock units trading.

Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Big jump in JSE main market index

November 12, 2019 by

The bounce in JSE main market continues and is poised to move higher.

The All Jamaican Composite Index soared 6,520.42 points to close at 553,783.03, the JSE Index advanced 5,843.29 points to 504,211.92 and the JSE Financial Index gained 1.40 points to close at 136.70.
The market closed with 38 securities changing hands in the main and US dollar markets with 12 advancing, 15 declining and 11 trading firm. Main market activity ended with 35 securities trading, accounting for 14,472,152 units valued at $103,787,768 in contrast to 33,964,316 units valued at $265,890,078 on Monday from 37 securities.
Sagicor Select Funds dominated trading with 6.9 million shares for 48 percent of total volume, followed by Wigton Windfarm with 4.1 million units accounting for 28 percent of the day’s trade and QWI Investments with 1.8 million shares for 12 percent of stocks traded.
The market closed with an average of 413,490 units at $2,965,365 for each security traded, in contrast to 917,954 units at an average of $7,186,218 on Monday. The average volume and value for the month to date amounts to 403,342 units valued at $3,699,001 and previously, 402,092 units at $3,802,123 for each security changing hands. The market closed out October with an average of 957,488 units valued at $13,947,047 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 12 stocks ending with bids higher than their last selling prices and 3 with lower offers. The PE ratio of the market ended at 16.7 with the main market at 17.4 times 2019 current year’s earnings.
In main market activity, Barita Investments gained 80 cents to close at $71 with 10,393 shares changing hands, BergerPaints ended at $18.50, after adding 50 cents trading 7,000 stock units, Eppley Caribbean Property Fund dropped $1.99 to settle at $35, with 6,000 units crossing the exchange. Grace Kennedy closed 31 cents lower to $67, in swapping 17,324 shares, Jamaica Broilers lost 98 cents to close at $35.02, after exchanging 41,351 stock units, Jamaica Producers climbed $2.50 to end at $24 trading 78,607 shares after the company posted results with a doubling in the third-quarter profit. Kingston Wharves advanced to $60, after climbing $3 with 150 units traded, on positive third-quarter results, Mayberry Equities added 30 cents to close at $11.30 after exchanging 7,017 stock units, NCB Financial ended at $209, after losing $1 in swapping 234,698 shares. PanJam Investment climbed $3.85 to $102.85, with 5,100 units changing hands, Portland JSX lost 50 cents to close at $8.50 while exchanging 100 units. Seprod settled at $51, after losing $2 from swapping 8,225 shares, Supreme Ventures added 50 cents, ending the day’s trade at $26.50 with 32,600 shares changing hands and Victoria Mutual Investments closed 39 cents lower to settle at $7.60 trading 94,354 shares.
Trading in the US dollar market closed with 80,977 units valued at US$22,298, with the market climbing 3.93 points to close at 198.49. Proven Investments traded 69,615 units to close at 30 US cents, Sygnus Credit Investments closed at 14 US cents with 10,467 units changing hands and JMMB Group 5.75% preference share exchanged 895 units and ended the day’s trade at US$2.02.

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