15 up 15 down on Tuesday
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.
JSE drops nearly 2,000 points on Friday
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.
JSE up in early trading
The Jamaica Stock Market has recorded decent gains in early trading on Wednesday but with limited volumes and only 13 securities had traded up to 10:30 with 3 coming from the junior market but the indices gained quite a bit. By 10:45 the main indices were all up by more than 1,000 points with only 14 securities changing hands with a volume of just 638,154 units as 2 stocks rose and 5 declined.
At 11 am, the all Jamaica Composite Index is climbed 1,355.87 points to 158,001.45, the JSE Market Index rose 1,213.25points to 142,315.11 the JSE combined index gained 1,286.95 points to be at 149,002.19 and the junior market index was up 15.84 points to 1,639.99.
Interesting trades, with 75 minutes having elapsed, are Gleaner Company with 318,300 shares at $1.4o and National Commercial Bank with only 3,600 units changing hands at $39.99 having gained $1.99.
Heavy indices losses on JSE – Monday
A total of 13 securities recorded gains and 8 declined as 5 stocks closed at a 52 weeks’ high but the JSE Market Index dropped 1,571.80 points to 140,840.88 the all Jamaica Composite Index dived 1,756.57 points to end at 156,353.92 and the JSE combined index erased 1,409.79 points to close at 147,465.66.
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 1 with a lower offer.
In trading, Berger Paints ended with 43,063 units trading at $3.45 after gaining 30 cents, Cable and Wireless closed with 2,427,885 units changing hands down to $1.35 for a loss of 14 cents, Caribbean Cement closed trading at $17 having lost 1 cent with 29,527 shares changing hands. Carreras closed at $56 with 6,893 units trading. Ciboney closed at a 52 weeks’ closing high of 24 cents with 125,816 shares changing hands, Gleaner Company traded 65,126 shares at $1.40, Grace Kennedy ended with 116,251 units changing hands with a gain of 49 cents to $76, a 52 weeks’ closing high, Jamaica Broilers lost 48 cents in trading 48,100 shares, to close at $8.02. Jamaica Producers rose by 50 cents to close at $32 with 917,122 units trading, JMMB Group lost 35 cents in trading 396,832 shares, to close at $10. Kingston Wharves traded 1,000 units to end at $11.50, with a gain of 20 cents, Mayberry Investments ended with 61,048 shares changing hands with a gain of 30 cents to $5, National Commercial Bank ended at $39.99, having risen $2.49 and closed with 6,460 units changing hands at a 52 weeks’ closing high. Pulse Investments had 32,620 units trading at $2.50, Radio Jamaica lost 44 cents in trading 1,000 units at $4.06, Sagicor Group with 108,541 units changing hands, ended at $16.70, Sagicor Real Estate Fund ended with 22,365 shares trading, to finish at $10.25. Scotia Group had 21,181 shares changing hands at $27.50 to record a 32 cents gain, Supreme Ventures closed with 1,105,941 units changing hands, 20 cents lower at $4.70 and Jamaica Money Market Brokers 7.50% preference share rose 9 cents and ended trading 445,500 units at $1.90.
JSE stock up 887% could end higher
The Jamaica Stocks Exchange stock rocketed from $1.57 to a record $15.50 topping the market as the best performing stock over 52 weeks with gains of 887 percent. The JSE benefitted from a big jump in profits from $8 million in 2014 to $139 million in nine months to September this year, as revenues jumped from $242 million in 2014 to $521 million.
For the quarter, profit amounts to $37 million up from $11 million in 2014, from operating revenues of $157 million versus $89 million in 2014. In addition to operating revenues, the JSE earned $16 million from investment income in the latest quarter, compared to $8 million in the September 2014 quarter and $34 million in the nine months in both years.
Earlier in the year, IC Insider stated, “the stock remains IC Insider BUY RATED and is now available at $3.50 which it last traded at, but won’t remain that way forever and investors should be buying this one for big long-term gains,” since then the stock has shot up to $15.50 for a gain of 933 percent for the year.
For the September quarter, cost rose from $90 million to $109 million due mainly to staff cost jumping b $12 million. For the nine months, cost rose from $273 million to $340 million with staff cost accounting for $20 million of the increase and securities commission fees jumping to $37 million from $10 million in 2014.
The exchange has cash and investments of $448 million with a working capital ratio of 2.4:1 and equity of $624 million, there is no borrowed debt on the books.
Factors that investors should be considering looking forward which will be critical to the fortunes of the stock exchange are the levels of trading that could point them to future income and profit. Up to December 4, this year, the JSE traded $8.4 billion in normal trades compared to $3.7 billion in December 2014, in the September quarter, trading amounted to $8.68 billion up from $3.74 billion in the June 2015 quarter and $5.15 billion in September 2014. The increase in the 4th quarter stock trading activity to date, is just below the 3th quarter level, in addition there will be a full quarterly income from repo business.
In the March quarter 2015, a total of $4.9 billion was involved in trading up from $3.8 billion in March 2014. Both the December and the March quarters in 2015 have a few one off type trades, regardless the trend is pretty clear pointing to the possibility of a strong 2016. The last two quarters suggest that trading levels in dollar terms could be up around 40 percent and it could be more. That would mean a sharp increase in revenues for the exchange in addition the managing of the repo business will provide added income for the entire year compared with two months in the September quarter and 5 months for the year to December.
Back in 2004, the market traded $28 billion in regular trading activity when the Jamaican dollar was trading around $62 to the US dollar with trading in 2005 being slightly behind at $26 billion. Trading would need to get to $51-55 billion for a year to match trading levels back in 2004 and 2005.
Profit should close out the year on a high with monetary trading levels set to exceed that of the third quarter and well ahead of the fourth quarter of 2014. IC Insider is forecasting earnings of $1.40 for the 2015 not factoring the trade that could flow from the Heineken buyout of the minority shares in Desnoes and Geddes.
Heavy trading on JSE on Friday
The JSE Market Index rose 365.33 points to 142,412.68, the all Jamaica Composite Index shot up 408.27 points to end at 158,110.49 and the JSE combined index climbed 497.86 points to end at 148,875.45.
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 10 stocks with bids higher than their last selling prices and 3 with lower offers.
In trading, Berger Paints ended with 135,245 units trading at $3.15 after falling 45 cents, Cable and Wireless closed with 445,330 units changing hands down to $1.49 for a loss of 3 cents, Caribbean Cement closed trading at $17.01 having lost $1.49 with 8,054 shares changing hands. Carreras closed at $56 with 9,880 units trading. Ciboney traded at an intraday 52 weeks’ high of 26 cents but ended at 23 cents with 763,857 shares changing hands, Desnoes & Geddes ended with 100,000 shares trading at $30, Gleaner Company traded at 100,000 shares and fell 30 cents to $1.40, Jamaica Broilers lost 10 cents in trading 124,557 shares, to close at $8.50. Jamaica Producers fell 50 cents to close at $31.50 with 24,145 units trading, JMMB Group gained 10 cents in trading 153,315 shares, to close at $10.35. Kingston Wharves traded 4,903,085 units to end at $11.30, with a gain of 10 cents, Mayberry investments ended with 294,647 shares changing hands at $4.70, National Commercial Bank ended back at $37.50 having traded at a 52 weeks’ high of $40 during the day and closed with 2,394,692 units changing hands. Pan Jamaican ended fell $2 with 930 shares trading, to finish at $92, Pulse Investments had 7,380 units changing hands to close at $2.50, Radio Jamaica lost 31 cents in trading 16,886 units at $4.50, Sagicor Group with 227,120 units ended at $16.70, Scotia Group had 885,356 shares changing hands at $27.18 to record an 18 cents gain. Scotia Investments had 5,400 units trading but fell $1 to end at $27, Supreme Ventures closed with 57,500 units changing hands, 20 cents higher at $4.90, Proven Investments ordinary share traded 124,217 units at 23 US cents and Jamaica Money Market Brokers 7.50% preference share rose 9 cents and ended trading 181,747 units at $1.90.