Jamaica Stock Exchange

Poor Carib capital market regulation

December 22, 2015 by IC Insider.com

Anyone with more than a passing interest in the Caribbean capital markets must be concerned at lax nature of how the system is regulated, in spite of having the oversight bodies in the form of the Financial Services Commissions in the region.
The glaring case of the abuse of power exercised by the Trinidad Cement board in the handling of the company’s right issue earlier this year, stands out as a clear case for regulatory action to protect investors. In this matter the company failed to properly inform shareholders of a strong improvement in the profit of the a for the first quarter and made it worse with Price Waterhouse Coopers signing a report that gave the impression that there was no profit for the quarter.
In Jamaica, we have a Financial Services Commission (FSC) that is said to be the regulator for the financial entities not regulated by Bank of Jamaica, much is lacking from them, their inaction in matters of critical import makes one wonder what taxpayers money given to them is really being used for?
When it comes to the FSC, one is reminded of a police station located across from a house of crime but does nothing, unless the neighbours complain about it. Here is a case be it small. One of the FSC regulated entities is late with its 2015 results, the company issued a statement to the stock exchange to say they would be late in releasing the audited statements and the audited figures would be released on December 4. They also had the lateness of the audited accounts in 2014, with December 5th being the promised date. Now the public is being told that Barita Investments Limited (BIL) the entity involved has advised that the Audited Financial Statements for the financial year-end 2014/2015 will be submitted to the Jamaica Stock Exchange (JSE)on or before December 29, 2015. That is a major shift in the time frame. No reason was given in the notice on the stock exchange site. The investing public has a right to know the reason for the lateness. The FSC that regulates the market, should be interested in knowing what the reasons are as well, but there is not even a peep out of them?
IC Insider spoke with Mrs Rita Humphries, Chairman of the company on Wednesday December 9, about the issues affecting the release and subsequently, the last posting was made on the JSE website. According to the Chairman, there were issues relating to reconciliation of a few accounts which required adjusting entries to be made. Barita had them reconciled and the auditors needed to go through the information and transactions to satisfy themselves that the end result is correct. Additionally, the auditors advised of none receipt of confirmation from clients some of which had already been sent on to the auditors we are advised. Last year the audit was held up by a difference of opinion between the auditors and the Barita over the issue of fully providing for the value of shares Barita held in Scotia Group on the basis the auditors said was the impairment of the investment. This was after they fully provided for the value of Barita’s investment in National Commercial Bank shares.
All this bring one back to the glaring errors in the audited accounts for Knutsford Express audited accounts for 2014 and 2015 for which there have been no request for revision of the reports, why? Are these regulators really serious in protecting investors? Take the most recent case of tTech. The prospectus for the company’s shares, made no mention of subscribers being asked to pay the JCSD fees. One day before the issue opens, a note is placed on the JSE website that the fee is to be paid by subscribers, even as the prospectus states that investors would not be paying any more than the $2.50, the shares were offered to the general public at. The JSE clearly did not intervene to prevent a chaotic situation from happening with some applicant including the fee and others did not as they were unaware of it. Thankfully, the management and brokers were sensitive to the issue and agreed to refund those who paid.
The FSC and the Stock Exchange police the system when companies are going to the public to raise money, but what happens after, very little? Goodyear was delisted from the JSE, shareholders got two payments form liquidation of the assets but about three years after, no information but there are no regulators dealing with the issue anymore, leaving many small investors to fend for themselves. That is not good enough.

Filed Under: Commentary Tagged With: Bank Of Jamaica, Barita Investments Limited, Financial Services Commission, GoodYear, Jamaica Stock Exchange, Mrs Rita Humphries, National Commercial Bank, Price Waterhouse Coopers, Scotia Group, Trinidad Cement, tTech

JSE majors slip on Monday

December 21, 2015 by IC Insider.com

Carreras traded at a new 52 weeks’ high of $60.75 on Monday

Trading ended on the Jamaica stock market with 10,283,114 units valued at $50,915,307 changing hands, in all market segments with 33 securities trading. The junior market accounted for 1,290,587 units, valued at $4,845,099. A total 11 stocks in the combined markets gained, 10 declined while 4 stocks closed at 52 weeks’ high and 1 traded at an intraday high.
138 Student Living had another day of with a large trade of 8,520,000 units at $4.50, valued at $38.34 million, much less than the 58,949,590 units valued at $265,273,155 traded on Friday.
At the close the JSE Market Index fell 38.30 points to 146,585.49, the all Jamaica Composite Index eased 42.80 points to end at 162,773.85 and the JSE combined index added 156.87 points to close at 153,500.13. The main market continues to face a test around the 165,000 points resistance 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 9 stocks with bids higher than their last selling prices and 4 with lower offers.
In trading, Cable and Wireless gained 1 cents with 77,265 units changing hands to close at $1.31, Caribbean Cement fell 33 cents to end at $17.87 with 16,000 shares changing hands, Carreras gained 75 cents, in closing at a new 52 weeks’ high of $60.75, with 42,612 units changing hands. Gleaner rose 8 cents with 8,320 units changing hands at $1.34, Grace Kennedy fell 12 cents, with 1,230 units changing hands, to finish at $79.88. Jamaica Broilers price jumped $1.86 to $10.50 with 19,726 shares changing hands, Jamaica Producers traded 1,000 shares at $31.90, The Jamaica Stock Exchange share lost $2.25 with 28,610 units changing hands to close at $16.70, Kingston Wharves had trading in 9,509 shares at $11.35. Mayberry Investments had 65,011 shares trading at $4.35, for a loss of 35 cents, National Commercial Bank rose just 1 cent and ended at $39.01, with 29,432 units changing hands, Radio Jamaica traded 1,000 units early in the day at $2.25 and ended the day at $3 while 11,400 units changed hands. Sagicor Group closed with 61,827 units changing hands at $17.50, Salada Foods lost 51 cents in trading 51,562 shares at $8.50, Scotia Group declined by 1 cent with 8,741 shares changing hands at $30.98, Supreme Ventures rose 60 cents to end at $4.60, with 7,128 units changing hands and Proven Investments had 16,130 shares trading at 22 US cents, for a loss of 0.99 cents.

Filed Under: JSE Main Market, Stock Market Tagged With: Cable & Wireless, Caribbean Cement, Carreras, Gleaner, Grace Kennedy, Jamaica Broilers, Jamaica Stock Exchange, Kingston Wharves, Mayberry Investments, National Commercial Bank, Proven Investments, Sagicor Group, Salada Foods, Scotia Group, Supreme Ventures

Record Friday for JSE stocks

December 18, 2015 by IC Insider.com

138 Student Living led the majors with 59m shares on Friday.

The main market recorded another day of strong gains of more than 2,200 points on Friday to reach a new record. The market closed with 117,491,770 units valued at $587,527,747 changing hands, in all market segments with 34 securities trading.
The junior market accounted for 55,544,624 units, valued at $296,776,261 as 13 stocks in the combined markets gained, 6 declined, 4 stocks closed at 52 weeks’ high.
138 Student Living had the largest trade in the main market with 58,949,590 units valued at $265,273,155 to close 10 cents up at a 52 weeks’ high of $4.50 while Honey Bun traded 55.2 million units valued at $295,438,307 in the junior market.
At the close the JSE Market Index climbed 2,213.58 points to 146,623.79, the all Jamaica Composite Index rose 2,473.80 points to end at 162,816.65 and the JSE combined index added 2,381.16 points to close at 153,343.26. The main market continues to face a test at the 165,000 points resistance level, on the all Jamaica composite index, but based on the churning of price movements in recent weeks, it is likely to take some more trading days to break through that level if the break takes place.

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 8 stocks with bids higher than their last selling prices and 5 with lower offers.
In trading, Berger Paints ended with 19,344 units trading at $3.15, Cable and Wireless lost 10 cents with 266,406 units changing hands to close at $1.30, at the close, there were over 1.84 million units on the offer at $1.40 with bids not looking particularly strong at $1.30 and below. Caribbean Cement closed with a rise of 20 cents to end at $18.20, with 19,955 shares changing hands, Carreras gained 99 cents in closing at $60 with 18,184 units trading, Ciboney traded at 27 cents with 54,500 units changing hands, Grace Kennedy gained 50 cents, with 77,778 units changing hands, to finish at a 52 weeks’ closing high of $80. Jamaica Broilers price fell $1.86 to $8.64, with 32,234 shares changing hands, the stock was offered for sale at $9.90 at the close, Jamaica Producers traded 13,000 shares at $31.90,

The Jamaica Stock Exchange share traded 5,000 units to close at $18.95, Kingston Wharves saw trading in 10,000 shares at $11.35 as the price slipped 5 cents. National Commercial Bank rose 30 cents and ended at $39 with 22,500 units changing hands, Pan Jamaican Investment had 20,000 units changing hands at $92.50, having risen 39 cents, Sagicor Group closed with 50,628 units changing hands but the price gained 69 cents to end at $17.50 for a new 52 weeks’ closing high. Scotia Group gained $1.99 with 73,780 shares changing hands at a 52 weeks’ closing high of $30.99 and Supreme Ventures fell 50 cents to end at $4, with 2,300,000 units changing hands.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: 138 Student Living, Berger Paints, Cable & Wireless, Caribbean Cement, Ciboney, Gleaner, Grace Kennedy, Honey Bun, Jamaica Broilers, Jamaica Producers, Jamaica Stock Exchange, Kingston Wharves, National Commercial Bank, Pan Jamaican, Sagicor Group, Scotia Group, Supreme Ventures

Stocks eke out more gains – Thursday

December 17, 2015 by IC Insider.com

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Seprod hits new 52 weeks’ high on Thursday

The main market recorded another day of gains on Thursday, but the with a negative advance decline ratio the main indices enjoyed just a moderate gain. The market closed with 45,015,874 units valued at $192,134,961 changing hands, in all market segments with 34 securities trading.
The junior market accounted for 43,233,932 units, valued at $166,308,887 as 19 stocks in the combined markets gained, 14 declined, 5 stocks closed at 52 weeks’ high and 1 traded at an intraday high, but pulled back before the close.
While the main market indices rose, the gains were low at under 250 points with the JSE Market Index climbing 152.28 points to 144,410.21, the all Jamaica Composite Index rising 170.18 points to end at 160,342.85 and the JSE combined index adding 224.86 points aided by junior market gains, to close at 150,962.10. The main market faces a test at 165,000 points resistance level, on the all Jamaica composite index, but based on the churning of price movements in recent weeks, it is likely to take some more trading days to break through that level if the break takes place.

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 12 stocks with bids higher than their last selling prices and 5 with lower offers.
In trading, Berger Paints ended with 45,252 units trading with a decline of 15 cents to $3.15, Cable and Wireless rose 9 cents with only 198,570 units changing hands to close at $1.40, at the close, there were over 2 million units on the offer at $1.40 with bids not looking particularly strong at $1.30 and below. Caribbean Cement closed with a loss of 20 cents to end at $18, with 53,180 shares changing hands. Carreras fell 4 cents in closing at $59.01 with a mere 20,543 units trading, Ciboney traded at 27 cents with 65,000 units changing hands, Gleaner traded at $1.26 down 14 cents with 228,000 units trading, Grace Kennedy gained $1.50, with 10,581 units changing hands, to finish at $79.50. Jamaica Broilers price rose $1.90 to $10.50, with 71,366 shares changing hands, the stock was offered for sale at $9.90 at the close. The Jamaica Stock Exchange share traded 22,665 units and lost 5 cents to close at $18.95, Kingston Wharves saw trading in 15,000 shares at $11.35 as the price slipped 5 cents,

National Commercial Bank rose 34 cents and ended at $38.70 with 173,608 units changing hands, Pan Jamaican Investment had 13,000 units changing hands at $92.11, having lost 89 cents. Pulse Investments traded 148,669 shares with a loss of 40 cents to end at $2.10, Radio Jamaica lost 60 cents to land at $3 with 12,900 shares trading, Sagicor Group closed with 24,780 units changing hands but the price gained 6 cents to end at $16.81. Scotia Group gained 89 cents with 94,242 shares changing hands at $29, Supreme Ventures fell 15 cents to end at $4.50 with 37,168 units changing hands. Proven Investments rose 0.99 US cents had 145,550 shares trading at 22.99 US cents, followed by Proven Investments 8% preference share with 17,675 units trading at $5.10 with a loss of 40 cents.

Filed Under: JSE Main Market, Stock Market Tagged With: Berger Paints, Cable & Wireless, Caribbean Cement, Ciboney, Daily Trading, Gleaner, Grace Kennedy, Jamaica Broilers, Jamaica Stock Exchange, Jamaican Stock, Kingston Wharves, Mayberry Investments, National Commercial Bank, Pan Jamaican, Proven Investments, Pulse Investments, Sagicor Group, Scotia Group, Seprod, Supreme Ventures, Trading Activity

tTech IPO JCSD fee breaches prospectus terms

December 17, 2015 by IC Insider.com

NCB Capital Markets imposes JCSD processing fee on tTech investors in breach prospectus terms.

NCB Capital Markets imposes cess on tTech investors in breach prospectus terms.

The tTech Limited public offering for shares in the company opened on December 16 and closed on the morning of the opening date following heightened interest in the stock. There is one bit of hitch and untidiness relating to the late imposition of JCSD processing fee on investors in the shares.
The imposition of JCSD processing fee is not only untidy, it is in breach of the terms of the prospectus and must be returned to those investors who paid it. There are no references to JCSD processing fee in the prospectus and under the heading of Statutory and General Information items 6 of the prospectus states, “All Applicants (including Reserved Share Applicants) will be required to pay in full the Subscription Price of $2.50 per Share, subject to discounts, where applicable. No further sum will be payable on allotment”. Most junior market IPOs, are highly anticipated, with several issues closing shortly after opening, leading most investors to apply for shares ahead of the opening day and so ensure that their application are on a timely basis. On Tuesday ahead of the opening of the tTech issue, a statement appeared on the website of the Jamaica Stock Exchange, to indicate that the “application form found in Appendix 1 of IPO Prospectus did not include any mention of the JCSD processing fee of J$134.00 (inclusive of GCT) that each application would be subject to. As such, the application form has been updated to include such commentary”.

Most persons would not have been aware of the charge and so put in their applications without it while some included it, having seen the change. This places some applicants at a disadvantage small though it may be. Some investors are shocked that, the company and the broker did not absorb the charge for the cess and that the Financial Services Commission and the Jamaica Stock Exchange have permitted the late imposition of it. The charging of the JCSD processing fee inclusive of GCT is an irritant for investors and there are few solid reasons why companies are not treating the cess as a part of the cost of listing rather than asking investors to pay for it directly.

Filed Under: Initial Public Offers, Stock Market Tagged With: Financial Services Commission, Jamaica Stock Exchange, junior market, NCB Capital Markets, tTech

Jamaican stocks churning forward

December 16, 2015 by IC Insider.com

JSE stock traded at a new high on Wednesday

The main market recorded another day of gains on Wednesday, but a negative advance decline ratio, the main indices enjoyed just moderate gains. The market closed with 5,617,754 units valued at $48,826,282 changing hands, in all market segments with 34 securities trading.
The junior market accounted for 2,721,358 units, valued at $9,118,051 as 11 stocks gained, 14 declined, 1 stock closed at a 52 weeks’ high and 2 traded at an intraday high but pulled back before the close.
While the main market indices rose, the gains were very low at under 300 points each with the JSE Market Index climbing just 53.41 points to 144,257.93, the all Jamaica Composite Index rose a mere 59.69 points to end at 160,172.67 and the JSE combined index added 287.46 points thanks to gains in the junior market to close at 150,737.24.

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 good reading of 15 stocks with bids higher than their last selling prices and 3 with lower offers.
In trading, Cable and Wireless rose 1 cent with only 110,997 units changing hands to close at $1.31, Caribbean Cement closed trading at $18.20, with 25,936 shares changing hands. Carreras fell 85 cents in closing at $59.05 with a mere 250 units trading, Ciboney traded at 27 cents with 215,700 units changing hands, Grace Kennedy declined by $1, with 3,246 units changing hands, to finish at $78. Jamaica Broilers traded at a 52 weeks’ high of $10.50, by the close the price fell 65 cents in trading 65,576 shares, to close at $8.60, Jamaica Producers jumped $2.99 in trading 3,125 units at $31, the Jamaica Stock Exchange shares traded 23,288 units at $19, but traded at a new intraday 52 weeks’ high of $19.05.

Kingston Wharves saw trading in 5,500 shares at $11.40 as the price slipped 10 cents, Mayberry Investments gained 30 cents with 400,114 units changing hands to end at $5, National Commercial Bank fell 14 cents and ended at $38.36 with 17,175 units changing hands, Pan Jamaican Investment had 4,581 units changing hands at $93. Radio Jamaica rose by 60 cents and landed at $3.60 with 24,000 shares trading, Sagicor Group closed with 1,867,437 units changing hands but the price fell by 25 cents to end at $16.75, Scotia Group dropped $1.89 with 55,916 shares changing hands at $28.11. Seprod traded 5,000 shares at $20.50, Supreme Ventures fell 30 cents to end at $4.35 with 61,988 units changing hands and Proven Investments fell 0.9 US cent as 37,468 shares traded to close at 22 US cents.

Filed Under: JSE Main Market, Stock Market Tagged With: Berger Paints, Cable & Wireless, Caribbean Cement, Ciboney, Desnoes and Geddes’, Gleaner, Grace Kennedy, Jamaica Broilers, Jamaica Money Market Brokers, Jamaica Stock Exchange, Kingston Wharves, Mayberry Investments, National Commercial Bank, Pan Jamaican, Proven Investments, Pulse Investments, Sagicor Group, Sagicor Real Estate Fund, Scotia Group, Seprod, Supreme Ventures

15 up 15 down on Tuesday

December 15, 2015 by IC Insider.com

Scotia Group traded at an intraday 52 weeks’ high of $30.99.

The main market recorded another day of gains on Tuesday, pushing the main indices up but by less than on Monday. The market closed on Tuesday with 7,395,180 units valued at $65,085,306 changing hands, in all market segments with 38 securities trading. Of the total value of stocks traded $20,386,711 was executed in the junior market. A total of 15 stocks gained, 15 declined as 1 stock closed at 52 weeks’ high and 1 traded at an intraday high but pulled back before the close.
The JSE Market Index climbed 845.57 points to 144,204.52, the all Jamaica Composite Index rose 944.97 points to end at 160,112.98 and the JSE combined index added 554.46 points to close at 150,449.78. 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 8 stocks with bids higher than their last selling prices and 4 with lower offers.
In trading, Berger Paints rose by 10 cents in trading 29,253 units at $3.40, Cable and Wireless fell 3 cents with only 138,174 units changing hands and closed at $1.30, Caribbean Cement fell 40 cents and closed trading at $18.20, with 10,731 shares changing hands.

Carreras rose $2.90 and closed at $59.90 with 26,654 units trading, Ciboney traded at 27 cents at the close with 114,749 units changing hands after rising 5 cents, Grace Kennedy gained $2.50 with 5,250 units changing hands, to finish at a 52 weeks’ high of $79, Jamaica Broilers fell 65 cents in trading 2,098,850 shares, to close at $9.25. Jamaica Producers was up 1 cent in trading 50,066 units at $28.01, Jamaica Stock Exchange shares rose by a cent in trading 19,449 units at $19 for a new closing 52 weeks’ high, Kingston Wharves saw trading in 100,000 shares at $11.50 as the price gained 30 cents, Mayberry Investments closed with 169,517 units changing hands at $4.70. National Commercial Bank rose 45 cents and ended at $38.50 with 153,879 units changing hands, Pan Jamaican Investment had 87,343 units changing hands at $93, with a rise of 90 cents, Pulse Investments traded 48,666 shares with the price climbing 20 cents to close at $2.50, Radio Jamaica lost 80 cents and landed at $3 with 1,000 shares trading. Sagicor Group with 113,949 units changing hands ended at $17, Salada Foods gained 21 cents and closed at $9.01 while trading 60,000 shares, Scotia Group jumped $1.50 with 217,472 shares changing hands and ended at $30.

The banking group traded at an intraday high of $30.99, Scotia Investments dipped $1.05 with 1,000 units trading and closed at $28.95, Seprod traded 81,599 shares and lost 5 cents in closing at $20.50, Supreme Ventures fell 30 cents to end at $4.35 with 61,988 units changing hands. Proven Investments had 25,000 shares trading at 22.9 US cents, followed by Jamaica Money Market Brokers 7.50% preference share, enjoyed a good day of trading, with 808,320 units changing hands at $1.90 and Jamaica Money Market Brokers 8.75% preference share ended with 707,438 units changing hands at $2.89, with the price slipping a cent.

Filed Under: JSE Main Market, Stock Market Tagged With: Berger, Berger Paints, Cable & Wireless, Caribbean Cement, Ciboney, Grace Kennedy, Jamaica Broilers, Jamaica Money Market Brokers, Jamaica Stock Exchange, Kingston Wharves, Mayberry Investments, National Commercial Bank, Pan Jamaican, Proven Investments, Pulse Investments, Radio Jamaica, Sagicor Group, Salada Foods, Scotia Group, Scotia Investments, Seprod, Supreme Ventures

JSE gains over 1,000 points on Monday

December 14, 2015 by IC Insider.com

The JSE stock traded at a new 52 weeks’ high of $19 on Monday and gained over 1,100% for 2015

The main market recorded sizable gains on Monday, pushing the main indices up by over 1,000 points, with only 33 securities trading on Monday. The market closed with 5,515,963 units valued at $33,968,671 changing hands, in all market segments. Of the total value of stocks traded $20,386,711 was executed in the junior market. A total of 17 stocks gained, 8 declined as 4 stocks closed at 52 weeks’ high and 2 traded at an intraday high but pulled back before the close.
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.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: Barita Investments, Cable & Wireless, Caribbean Cement, Carreras, Daily Trading, Gleaner, Jamaica Broilers, Jamaica Money Market Brokers, Jamaica Stock Exchange, Jamaican Stock, JMMB, JSE Company, National Commercial Bank, Pan Jamaican, Pulse Investments, Sagicor Group, Sagicor Real Estate Fund, Supreme Ventures, Trading Activity

JSE drops nearly 2,000 points on Friday

December 12, 2015 by IC Insider.com

The main market recorded big losses in on Friday, pushing the indices down sharply, with only 30 securities trading on Friday. The market closed with 5,339,621 units valued at $84,347,998 changing hands, in all market segments. A total of 7 stocks gained, 13 declined as 1 stock closed at a 52 weeks’ high.
The main market had strong gains over the past two days, helped on Friday by Scotia Group rising to $30, from $28. The JSE Market Index fell 1,784.13 points to 142,358.84, the all Jamaica Composite Index climbed 1,993.87 points to end at 158,050.32 and the JSE combined index dropped 1,998.71 points to close at 148,772.50. The market having broken through the 155,000 points resistance level on the all Jamaica chart faces the next test at 165,000, which could contain any strong upward movement over the next few trading sessions.
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 15 stocks with bids higher than their last selling prices and 4 with lower offers.
In trading, Cable and Wireless lost 10 cents and closed with 1,884,409 units changing hands at $1.28 after trading as high as $1.45, Caribbean Cement closed trading at $18 having with 25,850 shares changing hands. Carreras lost 40 cents and closed at $56.10 with 3,773 units trading. Grace Kennedy ended with 783,581 units changing hands, to finish at $78, Jamaica Broilers fell 30 cents in trading 657,940 shares, to close at $8.50. Jamaica Producers lost $1.50 in trading 596 units at $30.50, Mayberry Investments traded 300,000 units to end at $4.70, National Commercial Bank lost 50 cents and ended at $38 with 58,910 units changing hands, Pulse Investments traded 96,506 shares with a rise of 1 cent to close at $2.26, Sagicor Group with 107,647 units changing hands ended at $16.54. Scotia Group lost $1 with 96,044 shares changing hands and ended at $29, Scotia Investments dropped $3 with 4,000 units trading and closed at $27. Supreme Ventures fell 5 cents and ended at $4.85 with 220,000 units changing hands, Jamaica Money Market Brokers 7.50% preference share, traded 20,000 units at $1.90 and Jamaica Money Market Brokers 8.750% preference share, traded 42,000 units at $2.90 with the rise of 15 cents.

Filed Under: JSE Main Market, Stock Market Tagged With: Cable & Wireless, Caribbean Cement, Ciboney, Gleaner, Grace Kennedy, Jamaica Broilers, Jamaica Money Market Brokers, Jamaica Stock Exchange, Kingston Wharves, Mayberry Investments, National Commercial Bank, Pulse Investments, Sagicor Group, Scotia, Supreme Ventures

New record close for JSE – Thursday

December 10, 2015 by IC Insider.com

Scotia Group closed at a 52 weeks’ high on Thursday of $30.

The main market recorded strong gains in trading on Thursday, pushing the indices to new record closing highs, with 37 securities trading on Thursday. The market closed with 7,353,395 units valued at $40,265,775 changing hands, in all market segments. A total of 17 stocks gained and 11 declined as 5 stocks closed at a 52 weeks’ high.
The main market had strong gains over the past two days, helped on Thursday by Scotia Group rising to $30, from $28. The JSE Market Index rose 1,510.31 points to 144,142.97 the all Jamaica Composite Index climbed 1,687.86 points to end at 160,044.19 and the JSE combined index gained 1,446.03 points to close at 150,771.21. The market having broken through the 155,000 points resistance level on the all Jamaica chart faces the next test at 165,000 which is not far off, which could contain any strong upward movement over the next few trading sessions.

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 9 stocks with bids higher than their last selling prices and 5 with lower offers.
In trading, Cable and Wireless lost 2 cents and closed with 1,579,942 units changing hands at $1.38 after trading as high as $1.49, Caribbean Cement closed trading at $18 having risen 18 cents with 156,792 shares changing hands. Carreras rose 5 cents and closed at $56.50 with 5,817 units trading. Ciboney lost 1 cent and ended at 26 cents with 213,316 shares changing hands, Desnoes & Geddes had 68,514 units trading at the close at $30. Gleaner Company traded 17,272 shares at $1.40, Grace Kennedy ended with at a 52 weeks’ closing high with only 399 units changing hands, the stock price rose $1 to finish at $78,

Jamaica Broilers gained 50 cents in trading 15,963 shares, to close at $8.80. JMMB Group traded 1,080,760 shares, to close at $10, Kingston Wharves traded 22,945 units to end at $11.20, after shedding 15 cents, National Commercial Bank lost $1.35 and ended at $38.50 with 42,711 units changing hands, Sagicor Group with 90,677 units ended at $16.54. Scotia Group had 146,486 shares changing hands at a 52 weeks’ high of $30, to record a gain of $2, the stock traded at these levels way back in 2005, Seprod had 11,790 units trading with a gain of $1.95 to close at a 52 weeks’ high of $20.55 and Supreme Ventures gained 18 cents and ended at $4.90, with 573,000 units changing hands.