Juniors enjoying more recovery

Trading on the Junior Market of the Jamaica Stock Exchange closed trading on Wednesday with 16 securities changing hands, resulting in an exchange of 1,087,963 units valued at $5,258,148, which is much improved compared to 462,606 units valued at $2,337,749 on Tuesday.
The Junior Market Index advanced by 9.11 points to close at 2,963.36. At the close of market, the prices of 6 securities advanced, 6 declined and 4 remained unchanged.
Trading ended with an average of 67,998 units for an average of $328,634 in contrast to 30,840 units for an average of $155,850 on Tuesday. The average volume and value for the month to date amounts to 76,123 units valued at $327,928, previously 71,470 units valued at an average of $327,875. In contrast, September closed with average of 116,176 units valued at $538,652 for each security traded.
Trading ended with the market sentiments looking mixed for Thursday 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, Access Financial ended trading with a loss of 78 cents at $41.21, with 815 shares, Caribbean Cream finished trading at $5.90, with 10,000 stock units, Caribbean Producers ended trading 14 cents higher at $3.74, with 31,700 units changing hands, Express Catering closed with a loss of 25 cents at $4.44, with 103,623 stock units. General Accident ended at $3, with 705 units, Honey Bun settled 30 cents higher at $4.30, after trading 4,000 shares, Jamaican Teas settled at $4.10, with 122,528 units, Knutsford Express finished trading with a loss of 1 cent at $14.99, with 5,060 shares, Lasco Distributors ended trading at $6.30, with 11,761 shares, Lasco Financial finished with a loss of 5 cents at $4.20, with 19,763 shares, Lasco Manufacturing ended trading with a rise of 35 cents to $4.20, with 3,316 shares, Main Event closed with a loss of 15 cents at $5.15, with 6,653 stock units, Medical Disposables traded 14 cents higher at $4.74, with 1,071 units, Stationery and Office ended 3 cents higher at $4.83, after 692,137 shares changed hands, while tTech traded 5 cents higher at $7.05, with 14,031 units and in the junior market preference segment, Eppley concluded trading with a loss of 55 cents at $6, with 60,800 stock units.
Prices of securities trading for the day are those at which the last trade took place.

Juniors climb 38 points

In moderate trading, the Junior Market of the Jamaica Stock Exchange, ended with only 15 securities changing hands, on Tuesday, with an exchange of a mere 462,606 units valued at $2,337,749, well down on Friday’s levels.
Trading on Friday resulted in 2,090,829 units valued at $10,875,161. At the close of market activities, the prices of 9 securities advanced, 3 declined and 3 remained unchanged, leading to the Junior Market Index advancing 37.85 points to close at 2,954.25.
Trading ended with an average of 30,840 units for an average of $155,850 in contrast to 139,389 units for an average of $725,011 on Friday. The average volume and value for the month to date amounts to 66,921 units valued at $302,510, previously. In contrast, September closed with average of 116,176 units valued at $538,652 for each security traded.
The average volume and value for the month to date amounts to 71,470 units valued at $327,875 and previously 74,548 units with an average value of $323,091. In contrast, September closed with average of 116,176 units valued at $538,652 for each security traded.
Trading ended with the market sentiments looking mixed for Tuesday trading activity as 3 stocks ended with bids higher than their last selling prices and 2 with lower offers.
In market activity, volumes are those trades for the day and the closing prices are those at which the last trade took place. At the close of the market, Access Financial jumped $3.99 to $41.99, with only 400 units trading, Blue Power ended 10 cents higher at $44.10, with a mere 250 stock units, Caribbean Cream ended with a loss of 10 cents at $5.90, with 500 units, Consolidated Bakeries ended 3 cents higher at $2.05, with 250 units changing hands. Express Catering ended 19 cents higher at $4.69, with 1,706 stock units, Jetcon Corporation settled 40 cents higher at $4.90, with 220 stock units, Knutsford Express ended trading at $15, with 10,147 units trading, Lasco Distributors finished with a loss of 5 cents at $6.30, after 29,959 shares changed hands, Lasco Financial finished trading 25 cents higher at $4.25, with 1,891 units, Lasco Manufacturing gained 5 cents at $3.85, with 6,400 shares. Medical Disposables settled with a loss of 70 cents at $4.60, with 73,541 stock units, Stationery and Office closed 9 cents higher at $4.80, with 276,242 shares, tTech traded 1 cent higher at $7, with 21,000 units and in the junior market preference segment, Derrimon Trading traded 35,000 shares at $1.95, with Eppley ending trading at $6.55, with 5,100 stock units changing hands.

Another reord close for JSE

The Jamaica Stock Exchange all Jamaica Composite Index close at yet another record with a rise of 2,135.19 points to 302,498.35 on Monday.
The JSE Index jumped 2,198.62 points to close at 285,647.03 as NCB Financial closed at $91 with 611,333 shares changing hands. Berger Paints resumed trading with 248,769 shares changing hands as the price closed at $11.50 and Scotia Group rose to close at $52.

with todays close and NCB Financial closing with limited supply, the market could be moving away from the recent short term resistance and heading for the next at 360,000 points.

Juniors inch higher from few securities

Trading on the Junior Market of the Jamaica Stock Exchange finished on Friday with 15 securities changing hands, resulting in an exchange of 2,090,829 units valued at $10,875,161 compared to 969,013 units valued at $4,496,741 on Thursday.
The Junior Market Index advanced by 7.14 points to close at 2,916.40.
At the close of market activities, the prices of 5 securities advanced, 6 declined and 4 remained with the prices unchanged.
Trading ended with an average of 139,389 units for an average of $725,011 in contrast to 48,451 units for an average of $224,837 on Thursday. The average volume and value for the month to date amounts to 74,548 units, valued at $323,091 and 61,803 units at an average value of $309,424, previously. In contrast, September closed with average of 116,176 units valued at $538,652 for each security traded.
Trading ended with the market sentiments looking mixed for Tuesday trading activity as 5 stocks ended with bids higher than their last selling prices and 2 with lower offers.
In market activity, volumes are those traded for the day and the closing prices are those at which the last trade took place, accordingly, Caribbean Cream traded 258,135 units at $6, Caribbean Producers closed with a loss of 12 cents at $3.60, with 154,000 stock units changing hands, Express Catering settled with a loss of 5 cents at $4.50, trading 32,961 units, Jamaican Teas ended trading 1,200 shares at $4.10, Jetcon Corporation fell 50 cents to $4.50, with 50,064 shares. Key Insurance finished with a loss of 50 cents at $3.50, with 194,997 units traded, KLE Group settled at $2.50, with 250,000 units, Knutsford Express traded 11 cents higher at $15, with 202,982 stock units, Lasco Distributors finished trading 35 cents higher at $6.35, with 282,987 shares, Lasco Financial closed with a loss of 50 cents at $4, after 47,769 units traded, Lasco Manufacturing ended 5 cents higher at $3.80, with 86,540 units. Main Event ended trading 15 cents higher at $5.30, with 18,799 stock units changing hands, Medical Disposables concluded trading with 2,000 shares at $5.30, Paramount Trading got a lift from the first quarter results showing profits more than doubling and finished 30 cents higher at $2.80, after 458,395 shares were traded and tTech finished trading with a loss of 1 cent at $6.99, with 50,000 units.

All Jamaica cracks 300,000 for first time

Jamaica Stock Exchange all Jamaica Index closes above 300,000 on Friday.

The JSE All Jamaican Composite Index surged 5,376.82 points to close above the 300,000 points level for the first time, as JMMB Group, NCB Financial and Scotia Group recorded strong gains and pushed the index to a record close at 300,363.16.
The JSE Index jumped 4,898.89 points to close at a record 273,664.81 and in the US dollar market the USD Equities Index closed at 184.36.
Come Tuesday, when trading resumes it will be interesting to see how NCB trades since the stock closed at the equivalent of $100 in Trinidad on Thursday. At the close on Friday, there were only 33,603 units on offer for the stock. A break out of NCB is likely to see the market moving decisively away from the resistance, around the 300,000 points level. On Tuesday, Berger Paints that was suspended pending the closure of the Ansa Coating mandatory buyout offer, at the end of the day there were information on the out-turn of the offer.
Trading on the main market of the Jamaica Stock Exchange finished on Friday with 22 securities changing hands, 7 advanced, 6 declined and 11 traded firm with 4,504,312 units valued at $68,391,852 compared to 94,545,441 units valued at $1,119,081,050 on Thursday. In the US dollar market 425,898 units traded for a value of US$102,239 for two securities.
Trading ended with an average of 204,741 units for an average of $3,108,721 in contrast to 4,110,671 units for an average of $48,655,698 on Thursday. The average volume and value for the month to date amounts to 2,279,320 units valued at $30,989,186 and an average of 2,498,747 units at $34,245,233, previously. In contrast, September closed with average of 283,480 units at $3,630,990 for each security traded.
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.

Steady trading for Junior Market

The Junior Market of the Jamaica Stock Exchange settled on Thursday with 20 securities changing hands, resulting in an exchange of 969,013 units valued at $4,496,741 compared to 827,619 units valued at $4,771,002 on Wednesday.
At the close of market activities, the prices of 7 securities advanced, 5 declined and 8 remained unchanged leading to the Junior Market Index losing 2.43 points to close at 2,909.26. Trading ended with an average of 48,451 units for an average of $224,837 in contrast to 33,105 units for an average of $190,840 on Wednesday. The average volume and value for the month to date amounts to 69,963 units 252,557 valued at $317,553 and 71,783 shares at an average value of $319,802, previously. In contrast, September closed with average of 116,176 units valued at $538,652 for each security traded.
Trading ended with the market sentiments looking mixed for Friday’s trading activity with 1 stock ending with the bid higher than their last selling price and 2 with lower offers.
In market activity, volumes are those traded for the day and the closing prices are those at which the last trade took place, accordingly, Access Financial closed at $38, with 4,080 units trading, AMG Packaging ended 14 cents higher at $3.49, with 8,200 stock units, Blue Power concluded trading at $44, with just 1,100 shares, Caribbean Cream traded with a loss of 70 cents at $6, after trading 46,737 shares, Caribbean Producers closed 2 cents higher at $3.72, with 392,821 units, Derrimon Trading ended trading with a loss of 99 cents at $7, with 78,700 shares. Express Catering settled with a loss of 5 cents at $4.55, with 66,900 stock units changing hands, General Accident traded 30 cents higher at $3, with 2,125 units, Honey Bun finished trading with a loss of 20 cents at $4, with 15,101 units, Jamaican Teas ended trading 9 cents higher at $4.10, with 31,362 stock units, Jetcon Corporation concluded trading at $5, with 12,000 shares changing hands, KLE Group settled 10 cents higher at $2.50, with 2,730 stock units. Knutsford Express traded at $14.89, with 6,138 shares, Lasco Distributors traded 50,544 units at $6, Lasco Financial closed at $4.50, with 62,557 shares, Lasco Manufacturing ended with a loss of 5 cents at $3.75, after exchanging 114,774 stock units, Main Event ended at $5.15, trading 4,594 stock units. Medical Disposables concluded trading at $5.30, with 41,260 shares and Stationery and Office settled 1 cent higher at $4.71, after 2,500 units traded. In the junior market preference segment, Derrimon Trading closed with a loss of 5 cents at $1.95, with 24,790 units traded.

Junior Market trading drops

Trading on the Junior Market of the Jamaica Stock Exchange dropped on Wednesday even with 25 securities changing hands as investors exchanged just 827,619 units valued at $4,771,002 compared to 2,217,305 units valued at $9,814,861 on Tuesday.
The Junior Market Index advanced by 9.31 points to close at 2,911.69 as 8 securities advanced, 10 declined and 9 remained with the prices unchanged.
Trading ended with an average of 33,105 units for an average of $190,840 in contrast to 100,787 units for an average of $446,130 on Tuesday. The average volume and value for the month to date amounts to 71,783 units valued at $ $319,802, previously 78,790 units valued at an average of $343,165. In contrast, September closed with average of 116,176 units valued at $538,652 for each security traded.
Trading ended with the market sentiments looking mixed for Thursday’s trading activity as 3 stocks ended with bids higher than their last selling prices and 2 with lower offers.
In market activity, volumes are those traded for the day and the closing prices are those at which the last trade took place, accordingly, Blue Power ended trading with a loss of $5 to $44, with 2,100 stock units, CAC 2000 finished with a loss of 50 cents at $6.50, trading 30,770 shares, Cargo Handlers settled 50 cents higher at $10, with 1,500 stock units, Caribbean Cream added 60 cents to $6.70, with 4,810 stock units trading, Caribbean Flavours finished trading with a loss of 10 cents at $11.90, with 10,000 shares. Caribbean Producers closed with a loss of 4 cents at $3.70, exchanging 24,000 shares, Derrimon Trading dipped 1 cent to $7.99, with 5,000 stock units, Eppley finished at $12, with 1,517 units, Express Catering settled 10 cents higher at $4.60, with 28,301 stock units, Honey Bun finished trading with a loss of 29 cents at $3.80, with 20,003 stock units changing hands, Iron Rock gained 10 cents to end at $2.90, with 30,000 shares. ISP Finance ended with a loss of $1.95 down to $18, with 10,000 units, Jamaican Teas ended trading with a loss of 9 cents at $4.01, with 32,324 stock units, Jetcon Corporation concluded trading 50 cents higher at $5, after 1,358 units were exchanged, KLE Group ended with a rise of 12 cents to $2.40, with 47,665 stock units, Knutsford Express traded at $14.89, with 10,187 shares. Lasco Distributors finished trading at $6, with 159,013 units, Lasco Financial closed 25 cents higher at $4.50, with 10,400 stock units, Lasco Manufacturing ended 5 cents higher at $3.80, with 27,045 units, Main Event ended trading at $5.15, with 47,602 shares, Medical Disposables concluded trading 15 cents higher at $5.30, after 17,000 units changed hands. Paramount Trading finished with a loss of 30 cents at $2.50, trading 15,000 shares, Stationery and Office settled at $4.70, with 16,146 shares and tTech finished trading at $7, with 174,928 shares. In the junior market preference segment, Eppley ended trading 5 cents higher at $6.55, with 100,950 stock units being traded,

Junior Market trading doubles Monday’s

Trading on the Junior Market closed on Tuesday with 22 securities changing hands, resulting in a more than doubling of trading levels over Monday with an exchange of 2,217,305 units valued at $9,814,861 compared to 904,019 units valued at $4,463,382 on Monday.
The Junior Market Index declined by 3.62 points to close at 2,902.38 as market activity resulted in the prices of 5 securities advancing, 6 declining and 9 remaining unchanged.
Trading ended with an average of 100,787 units for an average of $446,130 in contrast to 43,049 units for an average of $212,542 on Monday. The average volume and value for the month to date amounts to 78,790 units valued at $343,165, previously 74,618 units valued at an average of $323,637. In contrast, September closed with average of 116,176 units valued at $538,652 for each security traded. Trading ended with the market sentiments looking mixed for Wednesday, as 4 stocks ended with bids higher than their last selling prices and 2 with lower offers.
In market activity, volumes are those traded for the day and the closing prices are those at which the last trade took place. Trading ended with Access Financial plunged $4 to close at $38, with a mere 100 stock units changing hands, AMG Packaging closed 5 cents higher at $3.35, with 50,395 shares, Caribbean Cream rose by 10 cents to $6.10, with 170,000 units, Caribbean Producers ended 4 cents higher at $3.74, with 15,240 shares traded, Consolidated Bakeries settled at $2.02, with 26,000 units. Dolphin Cove closed at $17.50, with 7,438 stock units, Eppley concluded trading at $12, with 1,500 shares changing hands, Express Catering traded 10 cents higher at $4.50, with 192,607 shares, General Accident fell 3 cents at to $2.70, with 837,115 stock units traded, Honey Bun traded with a loss of 1 cent at $4.09, with 3,420 stock units. Iron Rock traded at $2.80, with 6,245 units, Jamaican Teas settled at $4.10, with 23,280 stock units, Jetcon Corporation closed with a loss of 50 cents at $4.50, with 13,419 stock units, Knutsford Express concluded trading at $14.89, with 4,188 stock shares. Lasco Distributors traded 619,619 units at $6, Lasco Financial settled at $4.25, with 52,621 shares, Lasco Manufacturing ended 25 cents higher at $3.75, trading 3,100 stock units, Main Event finished with a loss of 3 cents at $5.15, exchanging 61,685 shares, Medical Disposables lost 15 cents at $5.15, trading 1,899 shares and Stationery and Office closed at $4.70, trading 81,373 stock units. In the junior market preference segment, Eppley settled with a loss of 5 cents at $6.50, with 45,961 units changing hands.

Record 299,091 points for JSE on Monday

Sagicor Group traded at a 52 weeks’ closing high of $39.99 on Monday.

In another record close for the Jamaica Stock Exchange, the All Jamaican Composite Index ended on Monday just shy of the 300,000 mark after climbing 1,334.26 points to an all-time closing high of 299,091.16 and the JSE Index, pushed higher by 1,215.66 points to a record close at 272,505.87.
Trading on the Main Market of the Jamaica Stock Exchange ended with 23 securities changing hands, 9 advanced, 12 declined and 2 traded firm with 310,999,356 units valued at $2,974,897,171 compared to 5,262,809 units valued at $149,711,405 on Friday as Supreme Ventures accounted for 307 million units while Sagicor Group traded at a 52 weeks’ closing high of $39.99.
In the US dollar market, trading accounted for 2,300 units valued at US$1,380 as just one security traded resulting in the price rising and the JSE USD Equities Index advancing 2.29 points to close at 187.15.
Trading ended with an average of 13,521,711 units for an average of $129,343,355 in contrast to 250,610 units for an average of $7,129,115 on Friday. The average volume and value for the month to date amounts to 48911643 3,041,577 units valued at $42,110,123 and previously 927,164 units valued at $15,214,449. In contrast, September closed with average of 283,480 units at $3,630,990 for each security traded.
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 6 stocks with bids higher than their last selling prices and none with lower offers.

Stinking Berger behaviour

There are some strange and shocking developments regarding the offer by Ansa Coatings International to purchase the minority shares in Berger Paints Jamaica.
First the directors in recommending that shareholders accept the offer made critical claims that are not back up by facts and they offer no information to support same. Secondly, the shares have been suspended in questionable manner and without adequate reasons.
The directors in recommending that shareholders accept the offer said,” in your directors view, it is highly likely that acceptance of the offer will take the aggregate holdings of ACI beyond 80 percent. Under the rules of the Jamaica Stock Exchange, where one shareholder either individually or collectively with concert parties holds more than 80 percent of the listed shares of a company, the stock exchange has the right to de-list such company. In fact the offeror has made it clear its intention to delist the Berger Shares.” The directors’ recommendation goes on to quote ACI statement that they will seek delisting if they acquire an additional 29 percent of the shares. “It is therefore clear that Berger Jamaica shares will in all probability be delisted from the JSE,” the directors’ statement concluded.
According to the directors, Ansa Coatings International controls 51.01 percent of the issued Berger Jamaica’s shares and as a result of this Offer, its holding will most likely exceed 75 percent.
It seems that for the recommendation to shareholders to be substantially based on the “highly likely that acceptance” taking the holdings of ACI beyond 80 percent and most likely exceed 75 percent, is highly flawed. Where did the directors get that information from and why did they not disclose the source in the recommendation. Why they did not think it appropriate to disclose the interim results figures up to August in the report?
At $10.88 per share, Berger is priced at 5 times the current years’ earnings against more than 13 for the main market, on what basis could it be regarded as a fair price?
The situation gets more curious and raises a huge question, is someone is trying to manipulate shareholders in giving away their shares at less than a fair price? That is the only conclusion to be arrived at, when without notice, the shares of Berger were without notice, suspended by the Jamaica Stock Exchange on Thursday, October 5, 2017 and is to remain suspended to Friday, October 13, 2017. According to a release late on Thursday, “this is to facilitate the processing of the transaction in respect to shareholders of the Company who have agreed to sell their shares to Asna Coating, as a part of their Takeover Bid of Berger.” That of course is a load of crap. Trading shares of Desnoes and Geddes a much bigger company was never suspended when Heineken acquired the minority shares in 2016, Hardware and Lumber shares were never suspended either, nor was Scotia Investments’ in Scotia Group’s recent acquisition of the minority shares. Why is there a need to prevent Berger shareholders who want to trade the shares if they so desire? Worse why is there need to suspend it beyond Monday?
The capital market cannot prosper as well as it should if the above abuses continue to take place without corrective action being taken. The Jamaica Stock Exchange and the Financial Services Commission should have intervened when the directors’ recommendation included information that was not backed up by facts and should have intervened and prevented the unwarranted suspension of trading in the company’s shares.