New JSE record on limited volume

Trading levels rose on the Main Market of the Jamaica Stock Exchange on Monday but remained moderate with an average of only 156,653 units valued at $3,187,757 for each security trading.
At the close of trading, 23 securities changed hands, resulting in 6,877,671 units valued at $68,979,399 trading, up sharply from the 2,507,681 units valued at only $38,468,870 on Friday.
The main market closed with 9 securities rising, 7 declining and 7 trading firm, leading to the JSE All Jamaican Composite Index increasing by 1,415.92 points to end at a record close of 327,594.70 and the JSE Index rising 1,290.06 points to a new closing record of 298,475.80.
In market activity, Barita Investments closed at $9.50, with 33,268 shares, Berger Paints rose 10 cents and ended at $19.10, with 4,237 stock units, Carreras concluded trading at $10.90, with 1,171,484 units, Caribbean Cement finished at $36.50, with 64,512 shares, Grace Kennedy rose 65 cents and ended trading at $49.65, with 6,186 shares. Jamaica Broilers rose 45 cents to $20.50, with 570,105 stock units, Jamaica Producers ended with a rise of 99 cents at $16.99, with 12,676 units, Jamaica Stock Exchange rose 2 cents and closed at $6.52, with 2,350 shares, JMMB Group lost $1.10 to closed at $27.22, as some selling came into the market for the stock, and ended with 1,208,947 shares changing hands. Kingston Wharves lost 5 cents and finished at $49.95, with 2,471 stock units after it traded at an intraday high of $51, Mayberry Investments settled at $6.05, with 20,200 units, NCB Financial Group rose $1 and ended trading at $97, with 76,990 shares, 1834 Investments lost 5 cents, to end at $1.15, trading 18,055 shares. PanJam Investment rose $1.45 to $44.45 trading 2,522 stock units, Sagicor Group settled at $36.85, with 15,203 shares and Sagicor Real Estate Fund gained 99 cents to end at $15, with 6,365 shares. Scotia Group climbed $1.34 to $51.50, with 30,645 units, Seprod finished trading at $33.01, with 427 shares, Supreme Ventures fell 5 cents and ended at $11.70, with 36,109 shares, Victoria Mutual Investments concluded trading at $4.21, after slipping 4 cents with 218,181 stock units, Wisynco Group fell 9 cents and finished at $10.90, with 95,232 units. In the main market preference segment, Jamaica Money Market 7.25% ended trading at $2.55, with 500 shares and Jamaica Money Market 7.5% traded at $1.92, with 6,364 stock units, changing hands.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “JSE main market hits new record – Monday.”

JSE main market hits new record – Monday

Stocks closed at a new record high on the Jamaica Stock Exchange main market on Monday, with the JSE All Jamaican Composite Index increased by 1,415.92 points to end at a record close of 327,594.70 and the JSE Index rising 1,290.06 points to a new closing record of 298,475.80.
In the morning session the market traded in intraday record territory with the JSE All Jamaican Composite Index climbing by 2,419.83 points to 328,598.61 and the JSE Index jumping 2,204.74 points to 299,390.48.
At the close, 24 securities traded, compared to 26 on Friday and ended with the prices of 9 stocks rising, 8 falling and 7 trading firm, in the main and US dollar markets.
At the close of trading,  Jamaica Producers ended with a rise of 99 cents to $16.99, JMMB Group lost $1.10 to $27.22, as some selling came into the market for the stock. NCB Financial rose $1 to $97, PanJam Investment rose $1.45 to $44.45, Sagicor Real Estate Fund rose 99 cent to $15 and Scotia Group climbed $1.34 to $51.50.
Main market activity ended with 3,603,029 units valued at $73,318,401 compared to 6,877,671 units valued at $68,979,399 on Friday. At the close of trading only two securities traded more than 300,000 units as JMMB Group closed with 1,208,947 units changing hands and accounting for 33.55 percent of the volume traded Carreras with 1,171,484 units accounted for 32.5 percent of the day’s volume and Jamaica Broilers Group ended with 570,105 units or 15.82 percent of the volume..
Trading resulted in an average of 156,653 units valued at an average of $3,187,757 for each security traded. In contrast to 264,526 units for an average of $2,653,054 on Friday. The average for the month to date is 770,204 shares with a value of $4,361,464 and previously 807,049 shares with a value of $4,437,293. In contrast, March closed with an average of 626,526 units with an average value at $20,492,207 for each security traded.
In the US dollar market Proven Investments lost 1 cents to end at 22 US cents while trading just 1,000 shares leaving the Market index 3.78 to end at 172.17.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 7 stocks ended with bids higher than their last selling prices and 3 with a lower offers.
For more details of market activities see –  New JSE record on limited volume.

Good news push TOP 10 stocks

There were no new entrants this past week, to the TOP 10 list of stocks on the Jamaican Stock Exchange, but there was some good news with the acquisition by Stationery and Office Supplies of a book making business.
The acquisition is set to add to profit in year one, and investors responded by driving the stock to a new high. The stock that was facing some challenge to get bids around the $5.50 level, the stock traded at in the past few weeks, jumped to $6 on the same day the announcement was made. With annual sales estimated around $130 million that could rise with greater focus on the operations and more capital available to support it, IC Insder.com has up graded the earnings to 90 cents for this year. The company is one of a number of Junior Market listings expected to post positive gains in the 2018 first quart over that of 2017.
The other good news for the market was a further fall in Treasury bill rates and another month of slightly negative inflation for March with the first quarter inflation also being negative. While the main market hit two new record highs during the week. While the JSE main market is caught up in a wedge formation and waiting for a big break out which could happen any time, the Junior Market that was in a downward drift from late 2017 now seems to have support from the 200 day and 120 day moving averages with the short term moving average now above both longer term ones. The market is being steered by two support lines with one going back to 2010 and another going back to early 2014.
Investors pressured recently listed Elite Diagnostic during the week as they reacted negatively to the December quarter results with lower profit that the previous year’s results. Investors seemed to have responded the Berger Paints bullish reading in the annual report as they bought the stock in increasing volumes during the week, leaving the price at $19. The Managing Director had reported that “the outlook for 2018 and beyond is extremely positive. The Berger brand remains strong and continues to dominate the local market with strong brand equity and a reputation for quality. With GDP projected to grow by at least 1.5% in 2018, construction activity and the demand for coatings is expected to remain relatively strong for the next two to three years. Plans are already being implemented to expand the company’s local distribution and product range as well as to improve our level of customer service and responsiveness. In 2018, there will also be greater emphasis on building out exports by targeting new markets in Central America and the Greater CARICOM region.”
Palace Amusement continues to enjoy expanded interest from investors with the continued success of the movie Black Panther. After more than two months of showing it still has two showings per day in all three cinemas, but the attraction for the stock is much more than this movie.
Strong buying came in for Barita Investments at $9.50 during the week. JMMB Group gained more ground, as the block out period for insiders to trade in the stock closes and the stock moved up to $28.32, resistance is just over $31 an area investors should be on the lookout for in the short run.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 6 compared to an average PE for the overall main market of 10 based on 2018 estimated earnings. The main market PE remains at 7 for the top stocks, compared to a market average of 12.7.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 40 percent to the average for the Junior Market Top stocks but it’s a third of what the average PE for the year is likely to be of 20 times earnings and main market stocks traded at a discount of 42 percent to the market.

New record close for JSE – Friday

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Stocks closed at a new record high on the Jamaica Stock Exchange main market on Friday.
Within 95 minutes of trading in the morning session the market was trading in intraday record territory, with the JSE All Jamaican Composite Index climbing by 3,266.33 points to territory of 328,244.31 and the JSE Index jumping 2,976.00 points to 299,067.67. By the close of trading, the market failed to hold on to the big early gains, leaving the JSE All Jamaican Composite Index increasing by a more modest 1,200.80 points to a record close of 326,178.78 and the JSE Index advancing by 1,094.07 points, to a record close 297,185.74.

Kingston Wharves jumped $5 to a record close on Friday.

At the close, the indices just edged out the record close of 326,087.70 on JSE All Jamaican Composite Index on April 6 and 297,102.76 for the JSE Index.
At the close, 26 securities traded, compared to 25 on Thursday and ended with the prices of 9 stocks rising, 9 falling and 8 trading firm, in the main and US dollar markets. There was no trading in the US dollar market on Friday.
At the close of trading, Kingston Wharves rose $5 to be the major mover for the day and ended at a record high of $50, Jamaica Producers ended up 90 cents to $16, Sagicor Real Estate Fund lost 99 cents to $14.01, Scotia Group dropped $1.84 to $50.16 and Seprod lost 99 cents to $33.01.
Main market activity ended with 6,877,671 units valued at $68,979,399 compared to 2,507,681 units valued at $38,468,870 on Thursday. At the close of trading only two securities traded more than 300,000 units as Ciboney Group closed with 3,042,400 units changing hands, accounting for 44.24 percent of the volume traded and Jamaica Producers took 28.5 percent of the day’s volume with 1,958,288 units.
Trading resulted in an average of 264,526 shares valued at $2,653,054, for each security traded, compared to 108,162 shares valued at $1,672,560 on Thursday. The average for the month to date is 807,049 shares with a value of $4,437,293 and previously 846,561 shares with a value of $4,577,870. In contrast, March closed with an average of 626,526 units with an average value at $20,492,207 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 6 stocks ended with bids higher than their last selling prices and 4 with a lower offers.
For more details of market activities see – Kingston Wharves pushes JSE to new record.

Kingston Wharves pushes JSE to new record.

Kingston Wharves jumped $5 to a record close at $50 on Friday.

Kingston Wharves jumped $5 and ended at a record high of $50 on modest volume and helped to push the market to new highs on Friday. On Tuesday, the price jumped $5, to the then new high of $45.
Scarcity seems the main factor behind the sharp rally in so short a time frame with 94 percent of the 1.347 billion shares held by the top 10 shareholders. Kingston Wharves close trading with the bid to buy 1,400 units at $50 and no stock being offered. This stock is ideal for a split with more than the relatively high price and limited supply.
Trading levels rose on the Main Market of the Jamaica Stock Exchange on Friday but remained moderate with an average of only 264,526 shares valued at $2,653,054 each trading.
At the close 26 securities changed hands, resulting in 6,877,671 units valued at $68,979,399 trading compared to 2,507,681 units valued at $38,468,870 on Thursday.
The main market closed with 9 securities rising, 9 declining and 8 trading firm, leading to the JSE All Jamaican Composite Index increasing by 1,200.80 points to end at a record close of 326,178.78 and the JSE Index rising 1,094.07 points to a new closing record of 297,185.74.
In market activity, Barita Investments closed at $9.50, with 100,889 shares, Berger Paints ended at $19, with 101,218 stock units, Carreras concluded trading at $10.90, with 214,871 units, Caribbean Cement finished at $36.50, with 28,334 shares, Ciboney Group rose 1 cents and settled at 13 cents, trading 3,042,400 shares. Grace Kennedy ended trading at $49, with 17,235 shares, Jamaica Broilers fell 40 cents to close at $20.05, trading 4,327 stock units, Jamaica Producers climbed 90 cents and finished trading at $16, with 1,958,288 units, Jamaica Stock Exchange fell 48 cents and closed at $6.50, with 30,000 shares. JMMB Group ended at $28.32, after gaining 32 cents with 181,452 shares trading, Kingston Wharves jumped $5 and finished at $50, with an exchange of 3,200 stock units, Mayberry Investments settled with a gain of 5 cents at $6.05, with 72,493 units, NCB Financial Group fell 25 cents and ended trading at $96, with 79,768 shares. 1834 Investments traded with a gain of 13 cents at $1.20, with 128,014 shares, PanJam Investment climbed 60 cents and closed at $43, with 55,875 stock units, Pulse Investments concluded trading at $1.80, with 59,400 shares, Radio Jamaica rose 5 cents finished at $1.10, with 251,100 shares. Sagicor Group settled dropped 65 cents and landed at $36.85, with 14,377 shares and Sagicor Real Estate Fund lost 99 cents to settled at $14.01, with 3,000 shares changing hands. Salada Foods fell 5 cents to $11.15, with 400 stock units, Scotia Group lost $1.84 to $50.16, with 187,520 units trading, Seprod finished trading with a loss of 99 cents at $33.01, after trading 942 shares. Sterling Investments closed at $13.89, with 1,000 shares, Supreme Ventures ended at $11.75, with 19,400 shares, Victoria Mutual Investments concluded trading at $4.25, with a loss of 13 cents in exchanging 38,035 stock units and Wisynco Group rose 49 cents and finished at $10.99, with 284,133 units changing hands.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “New record close for JSE – Friday.”

100 listings for Jamaica Stocks Exchange

The Jamaica Stock Exchange (JSE) with the listing of four preference share issues on the Main Market by JMMB Group on April 19, achieved its hundredth listing of securities on the Exchange.
JMMB Group listed its US dollar Cumulative Redeemable 5.5% and 5.75% Preference shares on the US dollar market while the Jamaican dollar Cumulative Redeemable 7.25% and 7% Variable rate Preference Shares were listed by JMMB on the main market. JMMB raised over $9 billion from the market with these instruments. Since coming to market in 2007, JMMB has raised over $23 billion from the capital markets through its listings of 16 securities over the period. Currently, with 11 securities listed on the markets, JMMB has the record of having the most securities listed by any company.

Kino Williamson (l), Head of Finance, Cable Bahamas Ltd. points to the USD label while Scotia Investment CEO, Lissant Mitchell points to the JMD label. Also sharing the moment (from left) are Marlene Street Forrest, Managing Director Jamaica Stock Exchange, John Gomez, COO Cable Bahamas and Dylan Coke, VP Originations & Capital Markets, Scotia Investments

Speaking at the event, Marlene Street Forrest, Managing Director of the JSE, stated, “JMMB has used the power of the market and their record of accomplishment most effectively. Since inception, they have raised capital via IPO and have listed ordinary shares, restructured their company, made acquisition and have raised capital through issuance of preference shares. JMMB is a testament of what can be achieved by other companies by using the Exchange as a medium for business expansion and wealth creation. We are seeing where investors, companies and our government are beginning to understand the importance of the stock market in creating wealth sector-by-sector, individual-by-individual and company by company. It is non-discriminatory, non-partisan and is fixed in its pursuit, that is, to create wealth for everyone. We facilitate the listing of different products, classes of shares, government or corporate bonds. This is complemented by our Depository and Trustee Services offerings.”

Keith Duncan, Group Chief Executive Officer of JMMB.

Keith Duncan, Group CEO of JMMB Group congratulated the JSE on its 100th listing and told the audience that “JMMB Group could not have achieved the success it has without the Stock Exchange, which provided a great avenue for companies such as ours to access capital for growth and development. I appeal to all companies to look at the Stock Exchange as a medium to raise capital and do business as the economic climate is right for companies to access capital, with a low interest rate regime, debt to GDP reducing and the Government not in the market crowding out the private sector in respect to funding, this is an opportune time for companies to come to market and raise capital and grow their businesses. JMMB has done it successfully and others can do it too.”

Big gains again for JSE stocks – Thursday

There was just modest volume trading on the Jamaica Stock Exchange main market on Thursday with the JSE All Jamaican Composite Index jumped 2,036.04 points to 324,977.98 and the JSE Index advanced by 1,855.07 points to 296,091.67.
At the close, 25 securities traded, compared to 24 on Wednesday and ended with the prices of 8 stocks rising, 4 falling and 13 trading firm, in the main and US dollar markets. Price changes were mostly moderate, with none exceeding 60 cents at the close of trading.
Main market activity ended with 2,487,721 units valued at $38,468,870 changing hands, compared to 4,971,238 units valued at $81,421,271 on Wednesday. At the close of trading Supreme Ventures closed with the largest volume of 532,107 units, amounting to 21 percent of the overall volume traded, followed by Wisynco Group with 477,649 shares or 19 percent of the volume traded.
Trading resulted in an average of 108,162 units valued at an average of $1,672,560 for each security traded. In contrast to 216,141 units for an average of $3,540,055 on Wednesday. The average for the month to date is 846,561 shares with a value of $4,577,870 and previously 897,409 shares with a value of $4,795,531. In contrast, March closed with an average of 626,526 units with an average value at $20,492,207 for each security traded.
The US dollar market closed on Thursday with 19,960 shares trading valued at US$11,700. JMMB Group 6% preference share ended concluded trading at US$1 with 9,260 stock units and Proven Investments finished trading after adding 3 US cents to end at 23 US cents after trading 10,700 shares. Trading ended with a rise of 9.8 points in the market index to 175.95.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 8 stocks ended with bids higher than their last selling prices and 5 with a lower offers.
For more details of market activities see – JSE volume jumps value falls – Thursday.

JSE volume jumps value falls – Thursday

Trading volumes rose but the total sum traded declined on the Main Market of the Jamaica Stock Exchange on Thursday with 4,971,238 units valued at $81,421,271 changing hands compared to 3,313,428 units valued at $132,584,977 on Wednesday.
The main market closed with just 23 securities changing hands, of which 16 rose, 4 declined and 3 traded firm leading to the JSE All Jamaican Composite Index surged 2,036.04 points to 324,977.98 and the JSE Index jumped 1,855.07 points to 296,091.67.
In market activity, Barita Investments closed at $9.50, with 2,000 shares trading, Berger Paints fell 22 cents and ended at $19, with 78,805 stock units, Carreras concluded trading at $10.90, with 363,060 units, Caribbean Cement finished at $36.50, with 18,529 shares, Ciboney Group rose 1 cent to close at 12 cents, with 290,000 shares. Grace Kennedy gained 51 cents and ended trading at $49, with 17,135 shares, Jamaica Broilers traded 18,625 units and gained 25 cents to close at $20.45, Jamaica Producers finished trading at $15.10, with 36,245 units but lost 60 cents in the process, Jamaica Stock Exchange closed at $6.98, with 5,500 shares. JMMB Group ended at $28, with 204,808 shares, Kingston Wharves finished at $45, trading 27,949 stock units, Mayberry Investments settled at $6, with 78,629 units, NCB Financial Group rose by 26 cents and ended trading at $96.25, with 97,448 shares. PanJam Investment lost 60 cents and closed at $42, with 5,000 stock units, Radio Jamaica finished with a fall of 5 cents at $1.05, exchanging 50,000 shares. Sagicor Group settled at $37.50, with 28,720 shares and Sagicor Real Estate Fund climbed 50 cents to $15, with 10,344 shares. Scotia Group traded at $52, trading 9,220 units, Seprod finished trading at $34, with 3,735 shares, Supreme Ventures ended at $11.75, with a rise of 5 cents, trading 532,107 shares, Victoria Mutual Investments gained 13 cents and concluded trading at $4.38, with 124,747 stock units and Wisynco Group finished trading at $10.50, with 477,649 units changing hands.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “Big gains for JSE stocks again – Thursday.”

Big gains for JSE majors – Wednesday

Kingston Wharves jumped $5 to a record close at $45 on Wenesday.

There was just modest volume trading on the Jamaica Stock Exchange main market on Wednesday with the JSE All Jamaican Composite Index jumped 2,508.77 points to 322,941.94 and the JSE Index climbed 2,285.77 points to 294,236.60.
At the close, 24 securities traded, compared to 25 on Tuesday and ended with the prices of 16 stocks rising, 4 falling and 4 trading firm, in the main and US dollar markets.
At the close of trading Berger Paints jumped $1.02 to $19.22, Kingston Wharves jumped $4 to record closing high of $45, NCB Financial rose 98 cents to $05.99, PanJam Investment climbed $1.25 to $43, Scotia Group rose $1.03 to $52 and Seprod was up 99 cents to $34.
Main market activity ended with 4,971,238 units valued at $81,421,271 changing hands compared to 3,313,428 units valued at $132,584,977 on Tuesday. At the close of trading Carreras closed with the largest volume of 1,661,256 units, amounting to 33.42 percent of the overall volume traded, followed by Scotia Group with 647,818 shares or 13 percent of the volume traded and Radio Jamaica with 563,453 units or 11.33 percent of the day’s volume.
Trading resulted in an average of 216,141 units valued at an average of $3,540,055 for each security traded. In contrast to 138,060 units for an average of $5,524,374 on Tuesday. The average for the month to date is 897,409 shares with a value of $4,795,531 and previously 947,792 shares with a value of $4,897,207. In contrast, March closed with an average of 626,526 units with an average value at $20,492,207 for each security traded.
The US dollar market closed on Wednesday with Proven Investments finishing trading at 20 US cents after trading 30,955 shares for US$6,410. Trading ended with a rise of 3.31 points in the market index to 164.15 as the average price of Proven inched higher during the day.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 5 stocks ended with bids higher than their last selling prices and 2 with a lower offers.
For more details of market activities see – JSE main market trading climbs – Wednesday.

Modest gains for JSE majors – Tuesday

Carib Cinema, the flagship for Palace Amusement, the company’s stock climbed $29 on Tuesday.

There was just modest volume trading on the Jamaica Stock Exchange main market on Tuesday with the JSE All Jamaican Composite Index increased by 144.01 points to 320,433.17 and the JSE Index advanced by 131.21 points to 291,950.83.
At the close, 25 securities traded, compared to 28 on Monday and ended with the prices of 9 stocks rising, 11 falling and 5 trading firm, in the main and US dollar markets.
At the close of trading Palace Amusement jumped $29 to $780 and Seprod fell $2.39 to $33.01 as only two securities with major price movements.
Main market activity ended with 3,313,428 units valued at $132,584,977 compared to 2,407,626 units valued at $18,652,792 on Monday. At the close of trading, NCB Financial Group closed trading with 1,244,263 units accounting for 37.55 percent of the volume traded and Ciboney Group with 962,000 units and 29 percent of the day’s volume.
Trading resulted in an average of 138,060 shares valued at $5,524,374, for each security traded, compared to 89,171 shares valued at $690,844 on Monday. The average for the month to date is 947,792 shares with a value of $4,897,207 and previously 1,015,505 shares with a value of $4,839,315. In contrast, March closed with an average of 626,526 units with an average value at $20,492,207 for each security traded.
The US dollar market closed on Tuesday with Proven Investments finishing trading at 20 US cents after trading 4,206 shares for US$841. Trading ended with an unchanged market index of 162.84.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 89stocks ended with bids higher than their last selling prices and 4 with a lower offers.
For more details of market activities see – JSE main market trading climbs – Tuesday.