Grace & Carib Producers back in TOP 10

the past week was very eventful for the Jamaica Stock market as the main market surged to a new all-time high and the Junior market surges more than 100 points in the early part of the week and broke through resistance before pulling back.
Importantly, although the results for the first quarter of 2018 for many companies did not show strong gains while some showed declines compare with 2017, both the junior and main markets are at points to break out of a wedge formation. The moves are bias to the upside.
Medical Disposables jumped to $5 from $4.30 last week and was eased out of the top stocks and replaced by Caribbean Producers. Stationery and Office Supplies fell by the end of the week to $7.80, moving up on the list in the process, the order book of the stock suggest further decline before it bottoms out. Jamaican Teas price moved to $5.25 during the latter part of the week as demands picks up and supplies appear to have been declining, but by the end of the week it closed at $5.
In the main market, Jamaica broilers jumped to a record close of $26.30 on Friday, up from $21 at the end of the prior week and moved well outside the top 10 list, replaced by Grace Kennedy that slipped 50 cents in price by week end.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 6,2 compared to an average PE for the overall main market of 11, based on 2018 estimated earnings. The main market PE is 7.6 for the top stocks, compared to a market average of 13.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 44 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 41 percent to the market.
Stocks to watch. Scotia Group reported half year results during the past week, but there was nothing about them for investors to be excited about, as they showed lower profits in the April quarter than a year ago period. The stock price pulled back sharply on release of the results. The stock yields a dividend of 4 percent which is higher than treasuries and this could be an attraction for some investors while they await return to profit growth. NCB sits just below the TOP 10 list and has good growth prospects for patient investors. PanJam Investment that IC Insider.com reported on in a separate article last week caught the eyes of some investors who moved the price up to $51.98 and it could go higher this week has there is very limited supply for this one. Investors should also keep an eye out for Sygnus Credit that could have its shares listed by next week.

Scotia pushes JSE down sharply Friday

Scotia Groupd price drop pulls JSE down on friday.

Investors reacted to Scotia Group’s report of lower profits in the April quarter by pushing the price of the stock down $2.99, resulting a sharp fall in the Jamaica Stock Exchange indices by more than 3,800 points, on Friday.
The All Jamaican Composite Index dived sharply by 4,246.63 points to 331,495.46 and the JSE Index had a big drop of 3,869.16 points to 302,029.82.
The volume of stocks trading on the main market was 7,187,416 units valued at $228,155,035 compared to 11,661,188 units valued at $284,601,737 on Thursday.
The main trades were, Grace Kennedy with 3,116,194 units accounting for 43.36 percent of trading, followed by Carreras with 1,575,999 units and 21.93 percent of the day’s volume and Supreme Ventures with 800,000 units.
Market activities resulted in 25 securities trading, compared to 29 on Thursday in the main and US dollar markets of which 12 advanced, 6 declined and 7 traded firm while Jamaica Broilers and JMMB Group 7% preference share closed at record high price.
Stocks with major price changes are, Jamaica Broilers jumping $3.10 to a record close of $26.30, JMMB Group falling $1 to close at $27.50, NCB Financial up $1.24 to $96.50, PanJam Investment up $1.33 to $51.98 and Scotia Group dived $2.99 to $50.01.
Trading resulted in an average of 312,496 units valued at an average of $9,919,784 for each security traded. In contrast to 448,507 units for an average of $10,946,221 on Thursday. For the month to date 197,915 units traded with an average value of $6,902,395 and on the previous day 217,527 units traded with an average value of $6,588,540 on average. May closed with an average of 589,414 shares with a value of $16,532.367, for each security traded.
In the US dollar market, 149,071 units valued at over $29,638 traded with Sterling Investments trading 438 units at 10 US cents and Proven Investments rose 1 cent with 148,633 units trading to close at 20 US cents. The JSE USD Equities Index advanced 4.22 points to close at 166.95.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 4 stocks ended with bids higher than their last selling prices and 4 closing with lower offers.
For more details of market activities see – JSE main market close down on Friday.

JSE main market slides – Friday

The Jamaica Stock Exchange closed on Friday with a sharp retreat from record close of the indices on Thursday, even as more stocks rose than fell.
At the close of trading, the All Jamaican Composite Index dived 4,246.63 points to 331,495.46 and the JSE Index dropped sharply by 3,869.16 points to 302,029.82.
A total of 23 securities changed hands, resulting in 11 advancing, 6 declining and 6 remaining firm as 7,187,416 units valued at $228,155,035 traded.
In market activity, Barita Investments closed down 54 cents, to $11.55, with 1,650 shares, Berger Paints gained 50 cents and ended at $20, with 8,000 stock units, Carreras fell 10 cents and finished at $10.50, with 1,575,999 shares changing hands, Grace Kennedy fell 50 cents to end at $49.50, with 3,116,194 stock units, Jamaica Broilers jumped $3.10 to a new all-time high of $26.30, with 51,790 units changing hands. Jamaica Producers rose 40 and closed at $16.85, with a mere 125 shares, Jamaica Stock Exchange ended at $7.30, with 123,000 shares, JMMB Group concluded trading after falling $1 to close at $27.50, with 658,507 shares, Kingston Wharves settled at $46, with 2,780 units. Mayberry Investments gained 5 cents and ended trading at $6.50, with 35,000 shares, NCB Financial Group climbed $1.23 to $96.50, with 38,364 shares, PanJam Investment jumped $1.33 and ended at $51.98, with 6,155 units, Radio Jamaica settled at $1.08, with 5,921 shares. Sagicor Group ended trading with a rise of 5 cents to $39.55, while exchanging 109,852 stock units and Sagicor Real Estate Fund finished trading at $14.50, with 65,260 stock units. Salada Foods traded 10,000 units at $14, Scotia Group dropped $2.99 to finish trading 305,483 shares at $50.01, after the group posted lower profit in the April quarter. Supreme Ventures added 10 cents and settled at $13, with 800,000 shares. Victoria Mutual Investments ended 9 cents richer at $3.99, trading 102,912 shares, Wisynco Group gave up 15 cents in closing trading at $9.65, with 118,424 shares. In the main market preference segment, JMMB Group 7% rose 10 cents to $2.11, with 25,000 shares, JMMB Group 7.25 % gained 3 cents and ended at $2.11, with 25,000 shares, Productivity Business 9.75% finished trading at $103, with 2,000 shares, 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 “Scotia pushes JSE down sharply Friday.”

JSE main market in 5,000 pts jump -Thursday

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Trading closed on the Jamaica Stock Exchange on Thursday, with more than 5,000 points jump in the market indices, after crossing a series of record highs during the trading session and closed at the highest level in the market’s history.
At the close of trading, the All Jamaican Composite Index surged 5,792.25 points to close at a record 335,742.09 points and the JSE Index jumped 5,277.40 points to a closing record high of 305,898.98.
A total of 26 securities changed hands, resulting in 11 advancing, 11 declining and 4 remaining firm.
Trading on the JSE main market ended with the overall volume and value returning to more normal levels of 4,749,951 units valued at $102,233,802 units.
In market activity, Barita Investments closed at $12.09, with an exchange of 200 shares, Berger Paints ended at $19.50, with 16,000 stock units traded, Carreras closed at $10.60, with 5,130 units, Caribbean Cement gained 20 cents and finished at $39, with 47,447 shares, Ciboney Group rose 1 cent to settle at 13 cents, with 12,000 shares trading. Grace Kennedy added just 1 cent and ended trading at $50, with 2,369 shares, Jamaica Broilers traded at 52 weeks’ high of $23.20, after rising 25 cents with 10,703 stock units, JMMB Group jumped $1 and ended trading at $28.50, with 230,317 shares, Jamaica Producers lost 5 cents and finished trading at $16.45, with 24,901 units changing hands, Jamaica Stock Exchange closed with a rise of 11 cents to $7.30, trading 370 shares. Kingston Properties ended at $6.50 after falling 10 cents, with 1,800 shares, Kingston Wharves jumped $4 and concluded trading at $46, with just 500 shares changing hands, Mayberry Investments rose 44 cents to end at $6.45, with 15,504 stock units, NCB Financial Group settled 9 cents lower at $95.26, with 51,713 units. 1834 Investments dropped 18 cents to $1.06, with 3,500 shares, PanJam Investment finished with a rise of 65 cents to $50.65, trading 6,300 shares, Pulse Investments ended at $1.79, exchanging 40,100 units, Radio Jamaica lost 12 and concluded trading at $1.08, with 1,800 shares. Sagicor Group lost 50 cents and ended at $39.50, trading 2,674,599 shares and Sagicor Real Estate Fund lost 50 cents and finished at $14.50, with 1,600 units. Scotia Group gained 1 cent and ended trading at $53, with 2,019,507 stock units trading, Supreme Ventures closed with 48,970 shares trading and fell 10 cents to $12.90, Victoria Mutual Investments ended at $3.90, with 442,461 shares. Wisynco Group concluded trading at $9.80, with 5,360,241 stock units but fell 5 cents in the process. In the main market preference segment, JMMB Group lost 1 cent and ended at $2, with 300 shares, JMMB Group settled at $1, with 642,856 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 “Jamaica Broiler grabs 99% of trade – Tuesday.”

AJI closes at record 335,742 points

The All Jamaican Composite Index (AJI) surged 5,792.25 points to close at a record 335,742.09 points and the JSE Index jumped 5,277.40 points to a closing record high of 305,898.98 as the market surpassed both the 334,000 and 335,000 marks on the same day, for the first time.
At the close on Thursday, 26 securities traded in the main market of the Jamaica Stock Exchange climbed to 11,661,188 units valued at $284,601,737 compared to 4,749,951 units valued at $102,233,802 on Wednesday as the market scaled new heights.  Previously, the AJI ended at a record closing high of 332,501.11 points on May 4, this year and drifted downwards, prior to today’s strong rally and break upwards.
The main trades were, Wisynco Group with 5,360,241 units to close at $9.80, amounting to 46 percent of the total volume traded, while Sagicor Group traded 2,674,599 units 599 accounting for 23 percent of the day’s volume and Scotia Group closed with just over 17 percent of the day’s volume, having traded 2,019,507 units, the next highest was Victoria Mutual Investments with 442,261 units and in the preference sector JMMB Group 7.5% trading 642,856 units.
Market activities resulted in 31 securities trading, compared to 26 on Wednesday, in the main and US markets. At the close, 12 securities gained, 10 declined and 9 traded firm.
Stocks with major price changes are, JMMB Group rose $1 to close at $28.50, Kingston Wharves jumped $4 to end at $46 and PanJam Investment rose 65 cents to $50.65.
Trading resulted in an average of 448,507 units valued at an average of $10,946,221 for each security traded. In contrast to 182,690 units for an average of $3,932,069 on Wednesday. For the month to date 217,527 units traded with an average value of $6,588,540 and on the previous day 158,650 units valued at 3,992,107 on average. May closed with an average of 589,414 shares with a value of $16,532.367, for each security traded.
In the US dollar market, 30,210 units valued at over $15,975 traded with Sterling Investments ; trading 15,000 units and adding 1 cent to end at 10 US cents followed by<strong> Proven Investments ; with 10,378 units to close at 19 US cents and  JMMB Group 6%  USD preference share with 13,352 units and closed at US$1. The JSE USD Equities Index rose 0.35 points to close at 162.73.
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 4 closing with lower offers.

JSE trading at new record of 335,379 points

The Jamaica Stock Exchange main market is currently trading in record territory with the all Jamaica Composite index having surpassed the 334,000 mark around mid day, moved to more than 335,000 points just ahead of the close.
The market having surpassed the 334,000 points for the first time around midday, moved even higher to trade at level 335,379.45 points with 15 minutes to go before the close with a rise of 5,429.21 points.
The All Jamaica Composite Index rose 4,212.92 points to 334,155.76 points just after midday while the JSE index rose to 3,838,45 points to 304,460.03 points, Scotia Group trading at $52.99 and JMMB Group at $28 were the two major contributors to the market rise. Wisynco Group trades at $9.80 and accounted for the largest block of shares with 5.356 million units of the stock traded.The AJI ended at a record closing high of 332,501.11 points on May 4, this year.
The Junior Market at the same time plunged 64.06 to 2,947.20.Iron Rock traded 4.24 million units in the Junior Market and Blue Power traded 538,182 units with the price falling to $28 from $the last traded price of $37.

SOS back in, Lasco Financial out of TOP 10

Stationery & Office Supplies is back in the TOP 10 but could fall in prive this week before moving higher.

A number of companies reported results in the past week, with some in the TOP 10 not getting much help from the new information and some of the top stocks earnings being downgraded, based on new information conveyed by the latest results.
Lasco Financial posted a strong 37 percent rise in profit, from $162 million to $222 million, but with slightly lower March quarter profit of $55 million, from $62 million, based on sharply increased finance cost that rose from $2 million to $14 million, as revenues grew more than 41 percent in the quarter, from $288 million to $405 million. Based on the new numbers, IC Insider.com places earnings for the current fiscal year at 50 cents per share or just around $650 million. The forecast is not enough to keep it in the Top 10 but it remains a solid buy, just below. Replacing Lasco Financial is Stationery and Office Supplies with the price pulling back during the week to close at $8.06. The price looks as if it could fall to the $6.50 region which would make it an even better buy.
All main market stocks remained in the top spots, but earnings for JMMB Group was downgraded following the March results and so too was Berger Paints. Radio Jamaica reported a loss in the March quarter and a loss for the full year, with a portion of the losses coming from one off items. The charge for depreciation and amortization is $255 million for the March 2018 fiscal year, well in excess of the loss reported for the year, resulting in a positive cash flow operation.
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 11, based on 2018 estimated earnings. The main market PE is 7.6 for the top stocks, compared to a market average of 13.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 44 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 41 percent to the market. Investors should keep an eye out for Scotia Group that should release half year results on Wednesday.

JSE trading back to normal – Friday

The volume of stocks trading on the Jamaica Stock Exchange dropped to 4,603,241 units valued at $166,353,769, well down from 170,209,058 units on Thursday valued at $3,113,335,699.
The main trades were Grace Kennedy with 1,462,365 units amounting to 31.77 percent of the day’s volume, followed by Sagicor Group with 1,357,691 units for 29.49 percent of total volume and Wisynco Group with 721,410 units and 15.67 percent of trade.
Market activities resulted in 25 securities trading, compared to 26 on Thursday, in the main and US markets. At the close, 7 securities gained, 10 declined and 8 traded firm and the All Jamaican Composite Index surged 3,607.57 points to 329,083.46 and the JSE Index jumped 3,286.90 points to close at 299,832.21.
Stocks with major price changes are, Caribbean Cement declining $1 to $39, Jamaica Broilers rising $2.81 to $21, Kingston Wharves down 90 cents to end at $46, NCB Financial Group trading at $96 after rising $1, Sagicor Group rallying $1.30 to $38.30 and Scotia Group advancing $1.05 to $51.05
Trading resulted in an average of 200,141 units valued at an average of $7,232,773 for each security traded, in contrast to 7,092,044 units for an average of $129,722,321 on Thursday. May closed with an average of 589,414 shares with a value of $16,532.367, for each security traded.
In the US dollar market, Productivity Business Solution, ordinary share finished trading with a fall of 1 cent, to 62 US cents, with 618 units trading and Proven Investments ended with 13,475 units trading with a loss of 2 cents to 20 US cents. The JSE USD Equities Index lost 9.75 points to close at 171.36
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 2 stocks ended with bids higher than their last selling prices and 3 closing with lower offers.
For more details of market activities see – JSE main market indices jump sharply – Friday.

JSE main market indices jump sharply – Friday

Bulls may be lurching to pounce on Jamaican stocks.

Trading closed on the Jamaica Stock Exchange on Thursday with, the All Jamaican Composite Index leaped 3,607.57 points to 329,083.46 and the JSE Index surged 3,286.90 points to close at 299,832.21.
A total of 23 securities changed hands, resulting in 6 advancing, 9 declining and 8 remaining firm.
Trading on the JSE main market ended with the overall volume and value returning to more normal levels of 4,603,241 units valued at $166,353,769, from the big surge on Thursday when Jamaica Broilers pushed trading 170,209,058 units valued at $3,113,335,699.
In market activity, Berger Paints ended at $19.50, with 1,562 stock units, Carreras gained 10 cents and concluded trading at $10.40, with 57,502 units, Caribbean Cement lost $1 and finished at $39, with 30,882 shares traded, Grace Kennedy fell 65 cents and ended trading at $49, with 1,462,365 shares, Jamaica Broilers recovered $2.81 to close at $21, with 19,907 stock units trading. Jamaica Producers lost 10 cents and finished trading at $16.50, with 80,429 units, Jamaica Stock Exchange closed down 39 cents to end at $7, with 25,500 shares, JMMB Group declined 80 cents and ended at $27, with 20,764 shares, Kingston Properties concluded trading at $6.60, with 200 shares. Kingston Wharves finished at $46 after falling 90 cents, with 3,395 stock units, Mayberry Investments settled at $6.45, with 10,756 units, NCB Financial Group gained $1 to end trading at $96, with 34,277 shares, 138 Student Living settled at $4.68, with a loss of 31 cents trading 100 units, PanJam Investment closed at $45, with 69,332 stock units. Radio Jamaica finished at $1.25, after falling 3 cents with 25,100 shares, Sagicor Group added 20 cents and settled at $38.50, with 1,357,691 shares and Sagicor Real Estate Fund rose 30 cents and finished at $14.30, with 7,998 units. Scotia Group climbed $1.05 in trading 422,278 stock units to close at $51.05, Supreme Ventures closed at $13, exchanging 94,024 shares. Victoria Mutual Investments ended at $4, with 50,009 shares and Wisynco Group concluded trading with a rise of 5 cents to close at $10, in the exchange of 721,410 stock units. In the main market preference segment, JMMB Group 7.25% concluded trading at $1.50, with 1,000 shares and JMMB Group finished at $1, with 106,760 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 back to normal  – Friday.”

JSE main market in recovery mode – Thursday

Jamaica Broilers dropped $3.81 on Thursday.

Trading closed on the Jamaica Stock Exchange on Thursday with, the All Jamaican Composite Index rising 1,297.53 points to 325,475.89 and the JSE Index gaining 1,182.20 points to close at 296,545.31.
A total of 24 securities changed hands, resulting in 10 advancing, 4 declining and 10 remaining firm.
Trading on the JSE main market ended with the overall volume and value surging normal levels with 170,209,058 units valued at $3,113,335,699 changed hands.
In market activity Carreras rose 49 cents and concluded trading at $10.50, with 53,990 units, Caribbean Cement jumped $1.95 to finish at $40, with 290,000 shares, Grace Kennedy ended trading at $49.65, with 615 shares, Jamaica Broilers dived $3.81 in trading 169,101,565 stock units to close at $18.19, Jamaica Producers gained 35 cents and finished trading at $16.60, with 55,264 units. JMMB Group ended at $27.80 after falling 20 cents, with 32,827 shares, Kingston Wharves climbed $1.90 to end at $46.90, with 8,237 stock units, Mayberry Investments added 35 cents to settle at $6.45, with 16,539 units, NCB Financial Group ended trading at $95 after rising $1, with 30,897 shares changing hands. 1834 Investments traded at $1.16, with 45,000 shares, 138 Student Living lost 10 cents to end at $4.99, with 229 units, PanJam Investment closed at $45, with 16,005 stock units, Portland JSX rose 25 cents and ended at $9.50, with 3,000 units, Radio Jamaica finished at $1.28, with 54,000 shares. Sagicor Group rallied $1.30 to settle at $38.30, with 113,627 shares changing hands, Sagicor Real Estate Fund settled at $14, with 16,082 shares, Salada Foods ended trading at $14, with 35,962 stock units, Scotia Group dropped $1.53 in closing trading at $50, with 102,271 units, Sterling Investments closed at $12.80, with 455 shares. Supreme Ventures ended with a gain of 20 to end at $13, with 30,505 shares, Victoria Mutual Investments concluded trading at $4, with 37,052 stock units, Wisynco Group finished at $9.95 having risen 25 cents, with 162,964 units. In the main market preference segment, Jamaica Money Market 7.5% traded at $2, with 972 stock units, Productivity Business 9.75% lost $2 in trading 1,000 shares at $103.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “Jamaica Broiler grabs 99% of trade – Thursday.”