46% Junior Market ordinary prices fall

17 Junior Market stocks fell, representing 46 percent of all listed ordinary shares, with 6 rising in trading on Tuesday as 31 securities changed hands, compared to 28 securities on Tuesday.
The market index declined 21.90 points to close at 3,403.19 after hitting a record intraday high of 3,440.48 in early trading.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading had 5 stocks ending with bids higher than their last selling prices, 2 closed with lower offers, reflecting a more balanced out turn for gains and losses in trading on Wednesday.
Market activities, resulted in an exchange of 3,020,667 units valued at $12,499,505, compared to 1,710,272 units valued at $8,314,488 on Monday.
Trading closed with an average of 97,441 units for an average of $403,210 in contrast to 61,081 units for an average of $296,946 on Monday. Trading for the month to date averages 77,610 for an average of $324,129 compared to averages of 73,884 for an average of $309,271 previously. September, ended with an average of 484,335 at $2,628,299 for each security traded.
At the close of trading, AMG Packaging ended at $1.95, trading 75,600 stock units, Blue Power concluded trading 19 cents higher at $6.04, with 1,435 units, CAC2000 closed 20 cents higher at $19, trading 11,673 shares, Caribbean Cream ended trading with 20,481 shares, after declining 19 cents to $7.70, Caribbean Flavours traded 8,958 stock units with a loss of 70 cents at $18.30. Caribbean Producers finished trading of 311,647 units with a loss of 20 cents at $6, Consolidated Bakeries closed with a loss of 10 cents at $2.30, with 700 shares changing hands, Derrimon Trading ended at $3, with an exchange of 105,951 shares, Dolphin Cove concluded trading with a loss of 1 cent at $16, with 7,287 shares. Elite Diagnostic finished with a loss of 15 cents at $3.30, after trading 15,110 stock units, Everything Fresh ended trading of 28,000 shares at $2, Express Catering ended trading 148,971 shares at $8.40, FosRich Group traded 233,061 shares with a loss of 1 cent at $4, after trading at a an all-time high of $4.49. General Accident finished trading 7,900 shares with a loss of 20 cents at $3.80. GWest Corporation closed with a loss of 3 cents at $1.90, exchanging 60,083 stock units, after it traded at an all-time low of $1.86, Honey Bun ended at $3.95, with 15,000 units changing hands, Indies Pharma shed 5 cents and ended with 344,287 shares changing hands, to close at $3.30. Iron Rock concluded trading of 50,000 shares with a loss of 50 cents at $4.50, Jamaican Teas settled 9 cents higher at $4.60, exchanging 8,480 shares. Jetcon Corporation ended trading 3 cents higher at $3.98, with 163,169 stock units, KLE Group finished trading of 350 shares at $3.75, Knutsford Express closed at $12, with 7,700 shares traded, Lasco Distributors ended 9 cents higher at $4.08, with 228,680 shares changing hands. Lasco Financial concluded trading of 268,679 stock units with a loss of 3 cents at $5.42, Lasco Manufacturing finished with a loss of 19 cents at $3.80, in exchanging 43,705 units, Main Event settled with a loss of 69 cents at $5.95, with an exchange of 5,000 shares, Medical Disposables ended trading 43 cents higher at $6.50, with 81,247 shares changing hands. Paramount Trading ended with a loss of 15 cents at $2.75, with 8,936 shares being exchanged, Stationery and Office finished trading 15,456 stock units with a loss of 15 cents at $9.30 and tTech ended with a loss of 45 cents at $5.15, with just 200 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Junior Market moved higher – Monday

The Junior Market of the Jamaica Stock Exchange ended trading on Monday with 28 securities changing hands, as 10 securities advanced, 7 declined and 8 remained unchanged. The Junior Market Index advanced 9.89 points to 3,425.09.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading had 6 stocks ending with bids higher than their last selling prices, 5 closed with lower offers, a negative pointer for trading on Tuesday.
Market activities, resulted in an exchange of 1,710,272 units valued at $8,314,488 compared to 2,257,896 units valued at $8,866,130 on Friday, from the trading of 28 securities.
Trading closed with an average of 61,081 units for an average of $296,946 in contrast to 80,639 units for an average of $316,647 on Friday. Trading for the month to date averages 73,884 for an average of $309,271 compared to averages of 76,500 for an average of $311,790 previously. September, ended with an average of 484,335 at $2,628,299 for each security traded.
At the close of trading, AMG Packaging ended at $1.95, after trading 162,000 stock units, CAC 2000 finished at $18.80, with 4,628 shares changing hands, Caribbean Cream ended trading $1.73 higher to close at $7.89, with 92,416 shares, Caribbean Flavours traded 2,000 stock units at $19, Caribbean Producers finished trading 125,661 units with a loss of 8 cents at $6.20. Consolidated Bakeries closed 40 cents higher at $2.40, with 270 shares traded, Derrimon Trading ended at $3, with 66,000 shares changing hands, Dolphin Cove concluded trading of 66,405 shares $1 higher at $17, Elite Diagnostic finished 25 cents higher at $3.45, exchanging 620 stock units. Everything Fresh ended trading of 114,400 shares and fell 10 cents to $2, Express Catering ended trading 166,739 shares and rose 1 cent higher to $8.40, FosRich Group traded 17,253 shares and rose 1 cent to close at a 52 weeks’ high $4.01, General Accident finished trading 29,810 shares and rose 20 cents higher to $4, GWest Corporation closed 3 cents higher at $1.93, trading 7,012 stock units. Honey Bun ended 4 cents higher at $3.95, while exchanging 46,014 units, Indies Pharma gained 5 cents and ended with 336,300 shares changing hands to close at $3.35. Iron Rock concluded trading 11,100 shares at $5, Jamaican Teas settled with a loss of 9 cents at $4.51, with 8,468 shares being exchanged, Jetcon Corporation ended trading 50,514 stock units with a loss of 1 cent to end at $3.95. KLE Group finished trading 300 shares at $3.75, Knutsford Express closed at $12, with 1,100 shares trading, Lasco Distributors ended with a loss of 2 cents at $3.99, in exchanging 260,460 shares, Lasco Financial concluded trading with a loss of 2 cents at $5.45, with 61,065 stock units. Lasco Manufacturing closed 13 cents higher at $3.99, exchanging 4,868 units, Main Event settled with a loss of 1 cent at $6.64, after trading 500 shares, Paramount Trading traded with a loss of 1 cent at $2.90, with 1,000 shares and Stationery and Office finished trading at $9.45, with 7,401 stock units changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Review of 2018 stock market forecast

Palace hits a new high of $1,500 to be top performer in 2018 so far.

“ Assessment of the market, suggests that 2018 could be a grand year, with overall price gains likely to be in excess of 40 percent”, a quote from IC Insider.com in February, this year.
“Based on projected earnings for 2018, the average PE ratio suggests that main market stocks should grow by 26 percent. Falling interest rates could add another 20 percent to gains during the year, bringing overall gains in excess of 40 percent.”
“Technical readings of the market have the main market heading initially to around 390,000 points or 23 percent ahead of the December close, for the all Jamaica Index, before resistance sets in and then moving much higher, later on’ the IC Insider.com forecast for 2018 stated.
With almost three more months to go, before the year ends, the main market is broken through the 390,000 points mark to be up 31.7 percent for the year to date, there seems no stopping it for now.
The report in February stated that the main market was caught in a wedge formation, trading just below the upper end of channel that can be traced to late 2015. The wedge could hold the market in consolidation mode for a short time, a month or two, before breaking out, most likely to the upside.
IC Insider.com projects that many of the main market heavy weights will find it tough to repeat the strong gains they enjoyed in 2017, if that is the case, their impact on the market index is likely to be less than for 2017. Another factor that could make a repeat of 2017 tough, is the movement of interest rates. Last year, Treasury bill rates fell 29 percent from 6.56 percent to 4.83 percent, that level of decline, is unlikely to happen in 2018, even as some of the decline in the latter part of 2017 is yet to be fully reflected in the prices of stocks to date and should positively affect prices in 2018. IC Insider.com is forecasting rates on 182 days Treasury bill  hitting 3 percent by the end of the 2018 first quarter. Treasury bill rates in 2018 at 1.7 percent, have fallen more sharply than in 2017.
The original piece stated that “there are a number of other factors at play that are set to impact the market. Increasing employment is taking place with the highest number of persons employed in the country’s history. Attendant with that is the sharp fall in unemployment from more than 16.3 percent in 2013, to just over 10 percent in 2017. The annual net employment is growing around 30,000 persons per year and that could rise as the economy gains steam. This will mean more spending and increased tax collection for government. Alpart resumption of Alumina production is a big positive for the overall economy, for increased government revenues and more demand for local goods and services, some of which are provided by listed companies. The tourism sector is enjoying strong growth, apart from increasing foreign exchange intake for the country, will have direct impact on Jamaica Producers and Sagicor X Fund. Jamaica seems to be going through a construction boom with several new buildings under construction, Caribbean Cement and Berger Paints should benefit considerably from such developments.”
“More listings on the stock market will result in increased fee income for JSE and brokerage houses, from increased trading volumes.”
The TOP 10 stocks include a few surprises while there are others that sit just outside the top stocks that investors may still want to keep a keen eye on. Investors should be looking beyond 2018 as medium term gains beyond 2018 could be strong for stocks that will benefit from current developments, long term.
The TOP 10 selection is selling well below the average PE of the Main market of the Jamaica Stock Exchange at just over 6.3 versus nearly 12 at the end of 2017.

Barita last traded on the JSE as high as $20 on Friday.

Barita Investments moved more into fee based income and that is working well for them, with sharp growth, while net interest income stagnates. The prospects for continued strong growth in fee income continues with more investors seeking better returns than in the fixed interest market. The company should see a change in ownership soon and that could see a more aggressive approach to management that could optimize returns from exiting business and newer lines. Unrealized gains on investment ought to be factored into its earnings in valuing the stocks and that would boost its value considerably, the market is not paying attention.
Berger Paints is set to be a big winner with increasing sales coming from a buoyant construction sector resulting in increased profit and what IC Insider.com expects to be a healthy dose of dividend payments. It could become the next Carreras from a dividend yield standpoint but with growing profits. The company will benefit from lowering of overhead cost which was evident in 2017.
Jamaica Broilers continues to grow organically and from new business being acquired. Growth will continue as the Haitian market deliver greater returns form a growing market while the poultry demand in Jamaica continues to grow.
Caribbean Cement will benefit from lower operating cost, increased sales and a planned cut in financing of the lease which is said will cut hundreds of millions of dollars out of it cost that could come close to $2 per share per annum.
Palace Amusement Company, currently enjoying sell out cinemas with block buster hit, is one of those unusual choices. It enjoys minimal trading but it could surprise on the upside if all goes well. Growth in the economy and increased employment will help to boost patronage going forward and will aid in profit growth as well.
JMMB Group put out outstanding Q3 results with a 39 percent increase in profit and strong gains in revenues, auguring well for 2019 outcome.
The growth potential remains strong and investors in the stock will reap rich rewards down the road. Just one stock that requires patience. By the way fees and commission income jumped an impressive 71 percent to $512 million in the quarter and 53 percent in the nine months, over the similar period in 2016 and should continue to do so going forward.
Radio Jamaica continues to disappoint with below expected revenues and profit. It could return to favour but needs to generate more income from advertising. This is one to accumulate for a payoff down the road.
The other three stocks, Sterling Investments, Grace Kennedy and Sagicor Group are undervalued and could deliver some decent returns to patient investors.
Below the TOP 10 are strong candidates to deliver decent returns this year and beyond, the list includes NCB Financial that is on a strong growth trajectory and recently listed Wisynco Group that should generate earnings around $1.10 for the 2019 fiscal year that starts in July.

More gains for Junior Market – Friday

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The Junior Market Index rose 14.27 points to close at 3,415.20, after 28 securities changed hands, resulting in the prices of 12 securities rising, 7 declining and 9 remaining unchanged.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading had 7 stocks ending with bids higher than their last selling prices, 3 closed with lower offers.
Market activities, resulted in an exchange of 2,257,896 units valued at $8,866,130 compared to 2,660,833 units valued at $11,718,330 on Thursday, from trading 28 securities.
Trading closed with an average of 80,639 units for an average of $316,647 in contrast to 104,192 units for an average of $364,931 on Thursday. Trading for the month to date averages 76,500 for an average of $311,790 compared to averages of 75,437 for an average of $310,542 previously. September, ended with an average of 484,335 at $2,628,299 for each security traded.
At the close of trading, Access Financial lost $2 to close at $46, in exchanging 1,790 shares, AMG Packaging ended at $1.95, trading 134,947 stock units, CAC 2000 finished at $18.80, trading 1,028 shares, Cargo Handlers settled 24 cents higher at $13.75, with 3,400 shares changing hands, Caribbean Cream ended trading 50,052 shares with a loss of $1.69 at $6.16. Caribbean Flavours traded 760 stock units, at $19, Caribbean Producers rose 3 cents trading 67,300 units to close at $6.28, Consolidated Bakeries closed at $2, with 6,068 shares trading, Derrimon Trading ended 10 cents higher at $3, with 230,398 shares changing hands. Elite Diagnostic finished 5 cents higher at $3.20, with 170,003 stock units being exchanged, Everything Fresh ended trading of 241,493 shares at $2.10, Express Catering ended trading 158,804 shares and rose 4 cents to $8.39, FosRich Group traded 15 cents higher at $4, with 6,459 shares changing hands, GWest Corporation closed at $1.90, with 5,000 stock units changing hands. Honey Bun ended with a loss of 4 cents at $3.91, after trading 211,872 units, Indies Pharma rose 10 cents and ended with 671,846 shares changing hands to close at $3.30. Iron Rock concluded trading of 800 shares at $5, Jamaican Teas settled with a loss of 5 cents at $4.60, exchanging 100 shares, Jetcon Corporation ended trading 157,389 stock units and rose 6 cents to $3.96, KLE Group finished trading with a loss of 5 cents at $3.75, with 31,700 shares, Knutsford Express closed at $12, in exchanging 5,632 shares, Lasco Distributors ended with a loss of 9 cents at $4.01, with 33,567 shares changing hands, Lasco Financial concluded trading 5 cents higher at $5.47, with 23,234 stock units. Lasco Manufacturing finished 13 cents higher at $3.86, trading 13,500 units, Main Event settled with a rise of 15 cents to $6.65, trading 1,000 shares, Medical Disposables ended trading 7 cents higher at $6.07, with 7,526 shares being exchanged, SSL Venture Capital traded 1,000 shares at $2.30 after trading at a 52 weeks’ high of $2.50 and Stationery and Office finished trading with a loss of 5 cents at $9.45, with 21,228 stock units changing hands.
Prices of securities trading for the day are those at which the last trade took place.

All Jamaica pass 415,000 Points

Gains in Grace Kennedy, Scotia Group, Seprod and NCB Financial were mostly responsible in pushing Jamaica Stock Exchange main market to a new record high in early trading on Friday.
The All Jamaica Composite Index jumped 7,892.89 points to a record 415,112.65 and the JSE Index surged by 7,191.32 points to a record of 378,214.61 points after 41 minutes of opening of the market.
The Junior Market has not participated in the bullishness and slipped 3.76 points to 3,397.17.

More gains for Junior Market – Thursday

The Junior Market Index gained 19.14 points to close at 3,400.93, after 28 securities changed hands, resulting in the prices of 16 securities rising, 8 declining and 5 remaining unchanged.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading had 6 stocks ending with bids higher than their last selling prices, 1 closed with a lower offer.
Market activities, resulted in an exchange of 2,660,833 units valued at $11,718,330 compared to 2,813,183 units valued at $9,853,139 on Wednesday, from trading 27 securities.
Trading closed with an average of 95,030 units for an average of $418,512 in contrast to 104,192 units for an average of $364,931 on Wednesday. Trading for the month to date averages 75,437 for an average of $310,542 compared to averages of 68,664 for an average of $273,220 previously. September, ended with an average of 484,335 at $2,628,299 for each security traded.
At the close of trading, AMG Packaging ended at $1.95, with 205,213 shares changing hands, Cargo Handlers settled with a loss of $1.49 to $13.51, in exchanging 6,800 shares, Caribbean Cream lost 6 cents to close at $7.85, with 86,620 shares changing hands, Caribbean Flavours traded 5,200 stock units and rose $2 to end at $19, Caribbean Producers finished trading 48,552 units with a loss of 5 cents at $6.25, Derrimon Trading ended 20 cents higher at $2.90, with 248,952 shares changing hands. Elite Diagnostic finished 8 cents higher at $3.15, with 6,000 stock units changing hands, Everything Fresh gained 19 cents and ended trading of 46,790 shares at $2.10, Express Catering ended trading 385,115 shares with a loss of 6 cents at $8.35, FosRich Group traded 6,500 shares and gained 55 cents to $3.85, General Accident finished trading 420,991 shares, at $3.80, Indies Pharma rose 4 cents and ended with 628,525 shares changing hands to close at $3.20. Honey Bun ended 10 cents higher at $3.95, with 1,769 units changing hands, Iron Rock concluded trading of 15,000 shares and climbed 10 cents higher to $5, Jetcon Corporation ended trading with 35,000 stock units with a loss of 9 cents at $3.90. Key Insurance traded at $3.08, with 148 units changing hands, Knutsford Express closed 32 cents higher at $12, with 1,142 shares, Lasco Distributors ended 9 cents higher at $4.10, with 19,022 shares changing hands, Lasco Financial concluded trading of 29,062 stock units with a loss of 8 cents at $5.42. Lasco Manufacturing finished with a loss of 12 cents at $3.73, with 12,460 units trading, Main Event settled 25 cents higher at $6.50, with 600 shares, Paramount Trading climbed 16 cents higher to $2.91, exchanging 89,375 shares, Stationery and Office finished trading 13,018 stock units and rose 31 cents to $9.50 and tTech ended 5 cents higher at $5.60, with 18,102 shares changing hands. In the junior market preference segment, Derrimon Trading 9% ended 26 cents higher at $2.51, trading 174,000 stock units, Eppley 8.75% finished at $6, with 145,607 shares, Eppley 9.5% settled with a loss of 2 cents at $6, with 1,270 shares, changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Fall in Scotia pushed market down

Scotia Group dropped to $56 from $61 close of Wednesday, Grace Kennedy fell to $61 from $63 and from a trade at $75 in early trading and Jamaica Broilers fell to $28 from $31 and pulled the main market of the Jamaica Stock Exchange under water, with 45 minutes of trading left for the day.
All the gains earlier in the morning that pushed the market into record territory was given up with the All Jamaica Composite Index pulling back 1,892.60 points from Wednesday’s close, to trade at 406,560 and the JSE Index fell 1,724.38 points to 370,422.16.
Earlier, the All Jamaica Composite Index on Wednesday moved higher by 3,093.31 points to a record 411,545.91.

All Jamaica claims 411,546 – Thursday

The main market of the Jamaica Stock Exchange broke through 410,000 mark based on movement of the All Jamaica Composite Index in early trading on Wednesday and moved higher by 3,093.31 points to a record 411,545.91.
The JSE Index that jumped to a record 374,251.61 in early trading moved on to 374,964.90 with gains of 2,818.36, The Junior Market rose 19.93 points to 3,401.72. Grace Kennedy raced to an all-time high of $75, NCB Financial moved up to a record of $131, Supreme Ventures climbed to $21.70, JMMB Group jumped to $35 and Mayberry Jamaican Equities traded at $12.
The main market broke through all resistance points, with the last being 400,000 points with the next big one being 510,000 points region. If it got there in 2018, would represent a gain of 24 percent from current levels and lift the gains for the year to 60 percent.

All Jamaica breaks 410,000

The main market of the Jamaica Stock Exchange continue to surge forward on Wednesday, with the All Jamaica Composite Index climbing 2,310.44 points to a record 410,763.04 after Grace Kennedy raced to an all-time high of $75.
The JSE Index gained 2,105.07 points to a record 374,251.61, The Junior Market rose 9.81 points to 3,391.60.
The main market has broken through all resistance points with the last being around 400,000 points and the next big one is at 510,000 points, which would represent a gain of 24 percent and lift the gains for the year to 60 percent.
The Junior Market sits just below a short term resistance that is holding it back from moving higher in the short term. Positive news is required for a number of the companies to move that market forward and that may be coming with new set of quarterly results that should start coming in a few days.

Junior Market edge higher – Wednesday

The Junior Market Index advanced 14.25 points on Wednesday to 3,381.79, after 27 securities changed hands, resulting in the prices of 10 securities rising, 10 declining and 7 remaining unchanged.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading had 6 stocks ending with bids higher than their last selling prices, 1 closed with a lower offer.
Market activities, resulted in an exchange of 2,813,183 units valued at $9,853,139 compared to 1,606,501 units valued at $7,572,441 on Tuesday, from trading 28 securities.
Trading closed with an average of 104,192 units for an average of $364,931 in contrast to 57,375 units for an average of $270,444 on Tuesday. Trading for the month to date averages 68,664 for an average of $273,220 compared to averages of 50,901 and $227,364 previously. September, ended with an average of 484,335 at $2,628,299 for each security traded.
At the close of trading, AMG Packaging gained 5 cents to $1.95, in trading 1,197,742 stock units, Blue Power concluded trading of 13,398 units with a loss of 15 cents at $5.85, CAC2000 finished with a loss of 20 cents at $18.80, while exchanging 15,327 shares, Cargo Handlers settled at $15, with 338 shares trading, Caribbean Cream ended trading with a loss of 9 cents at $7.91, with 133,316 shares changing hands. Caribbean Flavours traded 1,000 stock units at $17, Caribbean Producers finished trading 55,688 units with a loss of 5 cents to end at $6.30, Consolidated Bakeries closed at $2, with an exchange of 1,000 shares, Derrimon Trading ended with a loss of 23 cents at $2.70, with 203,686 shares changing hands. Dolphin Cove concluded trading of 2,370 shares, rising $1.01 to $16, Elite Diagnostic finished with a loss of 8 cents at $3.07, with 87,300 stock units changing hands, Everything Fresh ended trading of 180,782 shares at $1.91, Express Catering ended trading 85,088 shares and rose 1 cent to $8.41, FosRich Group traded 71,006 shares at $3.30 after trading at an intraday high of $4. GWest Corporation closed with a loss of 7 cents at an all-time low of $1.90, with an exchange of 14,863 stock units, Honey Bun ended 15 cents higher at $3.85, with 23,041 units changing hands, Indies Pharma lost 9 cents and ended with 238,186 shares changing hands to close at $3.16. Jetcon Corporation ended trading of 66,436 stock units after rising 13 cents higher to $3.99, KLE Group finished trading with 6,276 shares at $3.80, Knutsford Express closed at $11.68, with 8,990 shares changing hands, Lasco Distributors ended 5 cents higher at $4.01, trading 165,267 shares, Lasco Financial concluded trading of 136,768 stock units and added 10 cents to close at $5.50, Lasco Manufacturing finished 10 cents higher at $3.85, with 21,530 units trading. Main Event settled 15 cents higher at $6.25, with 12,457 shares changing hands, Medical Disposables ended trading of 4,060 shares and rose 50 cents to $6, Stationery and Office finished trading with a loss of 1 cent at $9.19, with an exchange of 66,295 stock units and Sweet River closed with a loss of 6 cents at $3.80, with 973 units changing hands.
Prices of securities trading for the day are those at which the last trade took place.