Junior market trading jumps – Wednesday

September 27, 2017 by

Main Event was the leading trade with more than 1 million shares on Wednesday.

Trading on the Junior Market of the Jamaica Stock Exchange picked up by more than 300 percent on Wednesday with 21 securities changing hands, resulting in an exchange of 2,043,273 units valued at $10,429,058 compared to 463,032 units valued at $2,269,157 on Tuesday.
At the close of market activities, the Junior Market Index advanced by 13.65 points to close at 2,982.32 as the prices of 8 advanced, 9 declined and 4 remained unchanged based on last traded prices.
Trading ended with an average of 97,299 units for an average of $496,622 in contrast to 24,370 units for an average of $119,429 on Tuesday. The average volume and value for the month to date, amounts to 122,095 units valued at $563,081 and previously, 123,473 units at $566,773. In contrast, August closed with average of 234,437 units valued at $1,295,260 for each security traded.
Trading ended with the market sentiments looking mixed and having implications for the next day trading activity as 3 stocks ended with bids higher than their last selling prices and 2 with lower offers.
At the close of the market the volume of stocks changing hands and their last traded price are: AMG Packaging traded 30 cents higher at $3.50, with 1,632 units, Cargo Handlers finished with a loss of 1 cent at $11.08, with 95,394 shares, Caribbean Flavours ended with a loss of 20 cents at $11.60, with 4,273 stock units, Caribbean Producers closed 15 cents higher at $3.75, with 4,752 units, Derrimon Trading closed with a loss of 1 cent at $7.99, with 1,961 shares. Dolphin Cove closed at $17, with 326 stock units trading, Express Catering finished at $4.50, with 305,066 shares, Honey Bun closed 15 cents higher at $4.20, with 4,577 stocks trading, Jamaican Teas settled with a loss of 22 cents at $3.78, with 26,100 shares trading, Jetcon Corporation concluded trading at $4.50, with 69,020 units, Key Insurance settled 25 cents higher at a new high of $4.25, with just 100 units. KLE Group traded with a loss of 6 cents at $2.80, with 8,000 stock units, Knutsford Express gained 39 cents to $14.89, with 10,400 shares, Lasco Distributors concluded trading with a loss of 30 cents at $6.30, with 41,455 shares, Lasco Financial ended 6 cents higher at $4.06, trading 304,402 stock units, Lasco Manufacturing ended 40 cents higher at $4, with 1,000 shares, Medical Disposables ended 30 cents higher at $5.30, with 4,000 units, Main Event traded with a loss of 5 cents at $5, with 1,009,579 shares. Stationery and Office closed at $4.80, with 84,437 stocks, tTech traded with a loss of 1 cent at $7.59, with 46,799 shares and Derrimon Trading preference share ended with a loss of 1 cent at $2, with 20,000 shares changing hands.

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Scotia Group pushed JSE down – Tuesday

September 26, 2017 by

Scotiabank dropped $1.90 and helped put a sharp dent in the indices on Tuesday.

Main market stocks of the Jamaica Stock Exchange, continue to have small differences between the number of winners and losers, but another big fall in the price of Scotia Group shares along with 9 other stocks, pulled the market down on Tuesday as 25 securities changed hands.
The main and the US dollar markets traded 29 securities with 9 advancing and 11 declining based on the last price for the day, with Carreras hitting an intraday high of $13 after the recent 10 to one stock split and ended at new closing high of $12.50.
At the close of market activity, Berger Paints closed at $11.50 with gains of 25 cents trading 47,524 shares, as investors continue to buy above the Ansa Coatings offer price of $10.88. Cable and Wireless exchanged 1,173,288 units at $1, Carreras advanced $1 to $12.50 with 492,727 shares, after it traded at an intraday high of $13, Grace Kennedy ended at $42.70, after losing 80 cents with 11,605 units changing hands. Jamaica Broilers closed at $17.50 with 653,854 shares trading, Jamaica Producers lost 50 cents to close at $14.50 with 23,685 stock units, Jamaica Stock Exchange fell 4 cents, to $6.46 with 61,389 units trading, JMMB Group settled with a loss of 20 cents at $22.50 trading 158,134 shares. Kingston Properties exchanged 200 units at $6.80, having lost 20 cents, Kingston Wharves traded $2.23 higher to $30.74 with just 2,700 units, Mayberry Investments settled at $4.10 with 12,135 units, NCB Financial gained 62 cents to close at $87.50 trading 193,108 shares, 138 Student Living closed at $4.75 with trades of 12,334 units. PanJam Investment exchanged 123,149 shares at $35, Portland JSX lost 5 cents, in trading 1,500 units at $9.25, Pulse Investments closed at $1.80 with 47,470 shares, Radio Jamaica closed at $1.12 trading 103,200 shares, Sagicor Group rose 25 cents, to settle at $34.25 with 346,129 stock units changing hands, Sagicor Real Estate Fund gained 55 cents, closing at $12.05 with 41,155 shares, Scotia Group closed $1.90 lower to $44.10 exchanging 631,765 stock units, after it traded at $49, the high for the day. Scotia Investments lost 1 cent and closed at $35.50 with 1,845 units, Seprod declined by $1 to $33 with 3,000 units, Supreme Ventures lost 9 cents to close at $11 with 218,690 shares trading.
In the main market preference segment, JMMB Group US 6% preference share traded at US$1.12 with 2,697 units, Jamaica Money Market Brokers 7.5% preference share closed at $2.08, gaining 8 cents trading 20,630 units and JMMB Group 7.5% preference share exchanged 51,846 units at $1.19.
In the US dollar market, Margaritaville Turks US ordinary shares gained 2 US cents, closing at 32 US cents with trades of 42,500 units, Productive Business Solution US ordinary shares with gains of 3 US cents, closed at 65 US cents trading 171 units, Proven Investments US ordinary shares closed at 23 US cents losing 0.99 US cent exchanging 64,882 units,

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JSE in big fall on Tuesday

September 26, 2017 by

JSE headquarters in downtown Kingston.

Decline of $1.90 in the price of Scotia Group shares along with 9 other stocks, dented the value of the main market of the Jamaica Stock Exchange on Tuesday, as price movements between winners and losers are close to even as 25 securities traded.
The market suffered large fall in the two main indices with the All Jamaica Composite Index dropping 3,458.79 points to close at 281,912.79, as the 290,000 points resistance is proving a challenge to the market for the time being. The JSE Market Index sank 3,151.35 points to 256,854.43. The JSE US dollar market index added 0.40 points to 187.99.
At the close of trading, 25 securities changed hands in the main market with 4 trading in the US dollar market, leading to 9 stocks advancing and 11 declining. The main market ended with 4,433,242 units valued at $88,443,092 changing hands compared to 1,991,216 units valued at $25,521,205 on Monday. Trading in the US dollar market accounted for 110,250 units valued at US$31,004, bringing the total of all trades to J$92,473,610.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 7 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 177,330 units valued at $3,537,724 for each security traded compared to an average of 82,967 units valued at $1,063,384. The average volume and value for the month to date ended at 278,353 units with an average value of $2,866,580 compared with an average of 284,296 units with an average value of $2,829,294 on the previous trading day. The average volume and value for August ended at 184,094 units with an average value of $4,336,090.

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JSE main market slips – Monday

September 25, 2017 by

Scotia Group dropped $3 to $46.

Trading on the Main and US dollar market of the Jamaica Stock Exchange ended with an almost even advance decline ratio resulting in the market indices slipping in a shortened trading session that commenced in the afternoon after the regular closing time had passed.
The volume of securities trading and the days last traded price are, Barita Investments that ended with a loss of 25 cents at $7.75, with 6,700 shares. Berger Paints concluded trading with a loss of 75 cents at $11.25, with 7,256 units, Cable & Wireless ended with a loss of 4 cents at $1, with 170,543 stocks changing hands, Carreras finished 50 cents higher at $11.50, with 464,114 units, Grace Kennedy finished $1.45 higher at $43.50, with 5,737 shares, Jamaica Broilers ended 50 cents higher at $17.50, with 39,878 stock units, Jamaica Producers concluded trading at $15, with 13,350 shares, JMMB Group finished 70 cents higher at $22.70, with 41,657 units, Kingston Properties finished at $7, with 2,000 shares, Kingston Wharves dropped $2.22 trading 18,341 shares to end at $28.51. Mayberry Investments traded with a loss of 50 cents at $4.10, with 2,138 units, NCB Financial fell 92 cents to $86.88 with 73,643 units changing hands. 1834 Investments ending at $1.40, with 93,917 stocks, PanJam Investment traded with a loss of 50 cents at $35, with 146,100 units, Portland JSX traded at $9.30, with 2,450 shares, Pulse Investments closed 9 cents higher at $1.80, with 7,701 stock units, Radio Jamaica closed at $1.12, with 49,263 units, Sagicor Group settled with a loss of 40 cents at $34, with 55,255 shares, Sagicor Real Estate Fund concluded trading 50 cents higher at $11.50, with 7,480 shares. Scotia Group dropped $3 to $46, with 44,994 stock units changing hands, Scotia Investments concluded trading 1 cents higher at $35.51, with 2,900 units, Supreme Ventures ended 9 cents higher at $11.09, with 699 shares.
In the main market preference segment, Jamaica Money Market Brokers 7.5% preference share traded at $2, with 232,000 units and JMMB Group 7.5% preference share closed at $1.19, with 503,100 shares.
In the US dollar market, Margaritaville traded just 100 units at 30 US cents, Productive Business Solution US ordinary shares lost 3 cents and closed at 62 US cents trading 750 units, Proven Investments US ordinary share closed at 23.99 US cents, after rising 1.99 US cents in exchanging 99,223 units.

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570,000 Berger shares snapped up

September 22, 2017 by

Berger Paints traded 570,000 shares on Friday and closed at $12.

Investors snapped up more than 570,000 units of Berger Paints’ shares pushing the price to $12 at the close, as more news came to the public that Ansa Coatings is highly unlikely to get enough shares to force a delisting of the company from the Jamaica Stock Exchange based on the offer, of $10.88 per share.
The JSE market indices rose on Friday as Scotia Group recovered some ground with 9 other stocks posting gains even as 11 fell in value.
At the close of market activity, Barita Investments closed with a loss of 15 cents at $8 with 323 units trading, Berger Paints added 75 cents to close at $12 with 572,833 shares changing hands, Cable and Wireless closed at $1.04, gaining 3 cents with 13,270 units, Caribbean Cement closed with a loss of 30 cents at $25.50 with 67,941 shares, Carreras gained 20 cents, and closed at $11 with 417,758 units, Grace Kennedy traded $1.45 lower, to $42.05 with 35,700 units. Jamaica Broilers advanced $1.25 to $17 exchanging 28,943 shares, Jamaica Producers declined by $1, closing at $15 with 6,650 units, Jamaica Stock Exchange closed at $6.50 with 4,960 stock units, JMMB Group closed at $22, after falling $1 in trading 148,514 shares. Kingston Wharves with 100 units traded rose $1.23 to $30.73, Mayberry Investments lost 9 cents, closing at $4.60 with 31,800 shares, NCB Financial Group traded 70 cents lower to $87.80 with 90,395 shares, 1834 Investments lost 4 cents to close at $1.40 with 30,000 shares. PanJam Investment dropped $3.50 to $35.50 with 22,813 stock units, Pulse Investments closed at $1.71, gaining 6 cents with 126,500 shares, Radio Jamaica closed at $1.12 trading 72,310 shares, Sagicor Group gained 40 cents, and ended at $34.40 with 15,770 shares, Sagicor Real Estate Fund gained 39 cents, closing at $11 with 1,850 units, Scotia Group closed $2.90 higher at $49 while exchanging 58,409 shares, Scotia Investments fell $1.50, closing at $35.50 with 1,412 units, Seprod with gains of $1, ended at $34 with 1,000 units, Supreme Ventures closed at $11, having gained 15 cents with 50,150 shares changing hands. Productive Business Solution US ordinary shares closed at 65 US cents trading 1,920 units, Proven Investments US ordinary shares closed at 22 US cents, after losing 1.99 US cents in exchanging 241,067 units and JMMB Group 7.5% preference share closed traded at $1.19 with 171,913 units.

 

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JSE suffers set back in forward move

September 21, 2017 by

JMMB Group inching higher on limited supply of stocks.

Large fall in the prices of are Caribbean Cement, Carreras and Scotia Group push the market down appreciably on Thursday and strong gains in PanJam Investment and JMMB Group could only dent the fall.
At the close of market activity, Berger Paints gained of 25 cents and closed at $11.25 with 148,982 shares, Cable and Wireless closed at $1.01, having lost 9 cents with 117,235 shares changing hands, Caribbean Cement with a loss of $2.20 at $25.80 with 30,123 shares, Carreras traded $1.20 lower to $10.80 with 1,217,220 shares, Ciboney Group exchanged 367,400 shares at 16 cents, Grace Kennedy gained 49 cents to settle at $43.50 with 11,300 units. Jamaica Producers advanced $1, to $16 in exchanging 34,495 shares, Jamaica Stock Exchange closed with gains of 5 cents, at $6.50 with 1,379 units, JMMB Group ended at a 52 weeks’ closing high of $23, after adding $1, trading 16,843 shares. Kingston Wharves traded at $29.50 with the exchange of 1,740 units, Mayberry Investments lost 1 cent, closing at $4.69 with 298,018 shares, NCB Financial traded 49 cents lower to $88.50 with 35,806 shares, 138 Student Living exchanged 20,000 shares at $4.75, while 1834 Investments gained 4 cents to close at $1.44 with trades of 6,520 units. PanJam Investment jumped $3.50 to $39 with 61,275 shares, Pulse Investments gained 23 cents to close at $1.65, with 12,581 shares, Radio Jamaica added 1 cent, in closing at $1.12 trading 305,416 shares, Sagicor Group closed with a loss of 52 cents at $34 with 4,550 units, Sagicor Real Estate Fund declined 39 cents in closing at $10.61 with 10,000 shares, Salada Foods traded 3,316 units at $8, Scotia Group plunged $4.90 to $46.10, in exchanging 117,999 shares, Scotia Investments closed at $37 with 30,453 shares, Seprod ended with a loss of $1 at $33 with 500 units, Supreme Ventures exchanged 131,400 shares at $10.85. Margaritaville Turks US ordinary shares closed at 30 US cents trading 5,500 units, Proven Investments US ordinary shares traded 13,000 units at 24 US cents, JMMB Group US 6% preference share closed at US$1.12 with 7,280 units and Proven 8.25% cumulative redeemable preference share lost 5 cents to close at $5.25 with 20,000 units.

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JSE main market falls – Thursday

September 21, 2017 by

Scotiabank dropped $4.90 and helped put a sharp dent in the indices on Thursday.

The main market of the Jamaica Stock Exchange indices suffering a big fall at the close on Thursday on limited volume. The All Jamaica Composite Index declined by 3,472.85 points to close at 285,659.32, the JSE Market Index fell 3,164.16 points to 260,267.95 and the JSE US dollar market index was down 0.45 points to 191.30.
Big players in the days loss are Caribbean Cement falling $2.20, Carreras down $1.20, Scotia Group with a fall of $4.90 while a big jump of $3.50 in PanJam Investment and $1 in JMMB Group, helped to alleviate the pain.
At the close of trading, 25 securities changed hands in the main market with 3 trading in the US dollar market, leading to 9 stocks advancing and 10 declining. The main market ended with 3,004,551 units valued at $33,829,615 changing hands compared to 1,826,710 units valued at $21,069,859 at the close on Wednesday. Trading in the US dollar market accounted for 25,780 units valued at US$12,873 bringing the total of all trades to J$35,516,032.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 7 stocks with bids higher than their last selling prices and 1 with lower offers.
The main market ended trading with an average of 120,182 units for an average of $1,353,185 for each security traded compared to an average of 91,336 units valued at $1,053,493. The average volume and value for the month to date ended at $311,195 units with an average value of $3,032,711 compared with an average of 324,839 units with an average value of $3,144,679 on the previous trading day. The average volume and value for August ended at 184,094 units with an average value of $4,336,090.

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Profit jumps 69% at Main Event

September 21, 2017 by

Main Event should earn 50 cents per sahre for 2017.

Revenues at Main Event, rose 14.8 percent in the July quarter, to $290 million, compared to only 10 percent for the year to date to reach $942 million.
The strong growth in revenues coupled with reduction in cost in some areas resulted in a loss of $4.7 million in the 2016 quarter, transformed to a profit of $26 million in this year’s third quarter and $101 million for the nine months, versus $60 million in 2016, for a strong increase of 69 percent.
Revenues in the quarter to April was flat, at $319 million compared to the 2016 period, but contributed $25 million more profit than the July quarter. Direct operating cost as reported were $147 million in both quarters in 2017, as a result, gross profit margin in the July period was less than in April. In the July quarter, administrative cost ended at $92 million, the same as in the April quarter but depreciation rose to $22 million, from $16 million, as the company acquired more equipment for its own use rather than hiring them.
Assuming the growth level in revenues for the third quarter continues, the company seems heading for profit of 50 cents per share for the 2017 fiscal year to October and 70 cents for 2018, providing room for the stock to deliver a good return for investors who get in at the right price.

Three directors of Main Event, including the mentor who is respossible to ensure compliance with the JSE rules.

“We remain very confident in our strategies and the company’s prospects for further growth and new business opportunities,” the company’s Chairman, Ian Blair and CEO, Solomon Sharpe stated in their comments on the nine months results.
The balance sheet shows fixed assets growing to $420 million from $342 million at July 2016 and improved working capital of more than $100 million versus just $12 million in 2016, while borrowings have declined from $156 million to $122 million. With increasing profit, the finances should be looking better by year end and into 2018.
The stock is BUY RATED but closer to the $5 level currently and for a limited time, as it may not trade back down there.

The stock is listed on the Junior Market of the Jamaica Stock exchange and is trading at $5.60, just over a PE of 11 compared to 13.7 for the junior market.

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JSE rise on modest trading – Wednesday

September 20, 2017 by

Carreras jumped to a record close of $12.

In modest trading on the Jamaica Stock Exchange on Wednesday, the prices of 10 stocks rose and 5 fell in the main and US dollar markets, leading to gains in the main market indices, the third consecutive day of increase.
Cigarette distributor, Carreras fresh from a 10 for 1 stock split, traded at a new 52 weeks’ high of $12 at the close while JMMB Group hit an intraday 52 weeks’ high of $23.70 before pulling back to $22 by the close as supply to sell is very limited and should pave the way for upward push in the price in the days or weeks ahead.
At the close of market activity, Berger Paints closed at $11, the last price the stock traded at, after hitting a high of $12.20 and ending with 129,140 shares changing hands. Cable and Wireless gained 5 cents to close at $1.10 with 111,500 units, Carreras closed at a record $12, after gaining 50 cents with 1,134,465 shares, Grace Kennedy advanced $1, settling at $43.01 with 4,332 units. Jamaica Broilers lost 29 cents and closed at $15.75, with 12,130 shares, Jamaica Producers lost 1 cent, closing at $15 in exchanging 18,700 stock units, Jamaica Stock Exchange rose 10 cents to $6.45 with 1,000 units, JMMB Group closed at $22, after gaining $1 and trading 20,959 shares. Kingston Wharves dropped $2.50 to close at $29.50 with 1,000 units having been exchanged, NCB Financial Group traded 99 cents lower to $88.99 with 34,831 shares. PanJam Investment remained at $35.50 with trades of 2,100 units, Pulse Investments closed at $1.42, gaining 2 cents with 183,000 shares, Radio Jamaica with gains of 6 cents, closed at $1.11, in trading 11,000 stock units, Sagicor Group added 2 cents, ending at $34.52 with 8,333 units changing hands, Salada Foods traded 88,783 shares at $8, Scotia Group closed at $51, exchanging 16,194 units, Seprod added $1 to close at $34 with 1,500 shares, Supreme Ventures closed 15 cents lower to $10.85 in exchanging 3,703 units. Productive Business Solution US ordinary shares closed at 65 US cents, trading 540 units, Proven Investments US ordinary shares traded 397 units at 23.99 US cents, JMMB Group 7.5% preference share closed at $1.19, gaining 4 cents with 26,540 stock units and Proven 8.25% cumulative preference share closed at $5.50 with 17,500 units.

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Recovery continues on JSE – Wednesday

September 20, 2017 by

JMMB Group traded at an intraday 52 weeks’ high of $23.70.

Activity on the Jamaica Stock Exchange was tepid on Wednesday, with only $21 million of trade taking place. At the close of trading, 20 securities changed hands in the main market with 2 trading in the US dollar market.
Trading closed with the prices of 10 stocks advancing and 5 declining in the main and US dollar markets leading to the third consecutive days of increase after the main market plunged sharply on Friday. Carreras fresh from a 10 for 1 stock split, traded at a new 52 weeks’ high of $12 at the close, while JMMB Group hit an intraday 52 weeks’ high of $23.70, before pulling back to $22 by the close, as supply to sell is very limited and should pave the way for an upward push in the price, in the days or weeks ahead.
The All Jamaica Composite Index advanced 510.79 points to close at 289,132.17, to sit just below resistance at 290,000 points. The JSE Market Index gained 465.38 points to 263,432.11 and the JSE US dollar market index closed unchanged at 191.75.
The main market ended with 1,826,710 units valued at $21,069,859 changing hands compared to 5,755,768 units valued at $88,334,159 at the close on Tuesday. Trading in the US dollar market accounted for 937 units valued at US$446 bringing the total of all trades to only J$21,128,316.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading is slightly biased to the upside, suggesting that rising prices should have the upper hand over declining ones on Thursday, with 9 stocks with bids higher than their last selling prices and 1 with a lower offer.
The main market ended trading with an average of 91,336 units for an average of $1,053,493 in contrast to 230,231 units for an average of $3,533,366. The average volume and value for the month to date ended at $324,839 units with an average value of $3,144,679 compared with an average of 342,801 units with an average value of $3,294,050 on the previous trading day. The average volume and value for August ended at 184,094 units with an average value of $4,336,090.

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