Express Catering jumps 96% – Tuesday

Marlene Street Forrest – General Manager of the JSE is said to have intervened to reset the price Express Catering could trade at on Tuesday.

Good sense prevailed on the Jamaica Stock Exchange on Tuesday, finally allowing Express Catering to trade close to levels that large number of investors are prepared to trade the stock. In the process the price jumped 96% from Friday’s closing price and 127 percent from the IPO price of $1.50.
At the close on Monday, bids in the market above $2.29 were cancelled, an indication that the maximum price it could trade at being $2.97. IC Insider.com understands that regulations at the exchange permitted administrative intervention in the trading restriction that allowed the stock to enjoy the revised permitted price range of $2.52 to $3.41. The stock ended up trading 32,750,000 units to close with a gain of $1.67 to $3.41. During trading, the electronic board, showed that 65.6 million units traded up to $3.80. After the market closed a large portion were cancelled since the price exceeded the limit set for the day. The stock closed with the bid at $3.50 which will allow it to trade up $4.55 on Wednesday.
Trading on the Junior Market jumped sharply on Tuesday with the large trade in Express Catering, to 35,527,220 shares valued at $124,668,100, up from 1,438.180 shares valued at $7,648,204 traded on Monday. At the close, the market index rose 40.03 points to 3,028.93.
At the close, 21 securities traded, up from 17 on Monday with 9 stocks gaining and 7 declining. Trading closed with 5 stocks having a higher bids than the last traded price and 2 closing with lower offers.
The Junior Market ended trading with an average of 1,691,772 units for an average value of $5,936,576 compared to 84,599 units for an average of $449,894 on Monday. The average volume and value for the month to date amounts to 239,926 units at $680,321, compared to 74,820 units valued at $371,129 previously. In contrast, June closed with averages of 395,969 units valued at $1,799,200 for each security traded.
At the close of the market, AMG Packaging rose 20 cents and closed at $3.70 with 1,733 units changing hands, Blue Power dived $7 after falling $ 4 on Monday to close at $38 with 8,588 units changing hands, Cargo Handlers ended trading 4,853 shares to close at $13.75, Caribbean Cream jumped by $1 and closed trading with 105,300 units at $7, Caribbean Producers gained 38 cents to close trading with 57,863 units, at $3.40, Consolidated Bakeries ended with 85,000 units changing hands, to close at $2.62. Dolphin Cove ended at $17.50 with 555 shares changing hands, Eppley gained 5 cents and closed trading with 16,985 shares at a new high of $13, General Accident added 1 cent and closed trading with 80,838 shares at $2.51, Honey Bun plunged $1 with 16,760 shares changing hands and closed at $5, ISP Finance slipped $2 and closed with 23,500 units changing hands at $12, Jetcon Corporation traded 62,653 shares to end at $4.61, after gaining 11 cents, Knutsford Express traded 4,481 shares to end at $15, Lasco Distributors closed 39 cents lower at $6.51 after trading 53,268 units, Lasco Financial rose 6 cents and ended with 57,505 shares changing hands at $3.56, Lasco Manufacturing shed 19 cents and ended with 2,107,735 shares trading at $4.31, Main Event lost 10 cents to close with 20,787 shares trading at $5.20, strong> Medical Disposables lost 1 cent in ending at $5.50 with 343 units trading, Paramount Trading ended with 72,354 units changing hands at $2.95 and tTech traded 4,699 units, falling 10 cents to close at $9.50.

Junior Market gains on Monday

Trading on the Junior Market dropped sharply on Monday to 1,438.180 shares valued at $7,648,204.78, from 8,428,003 shares valued at $32,387,101 on Friday. At the close, the market index rose 32.62 points to 2,988.90.
Trading ended with 17 securities changing hands, down from 20 on Friday with 5 gaining and 11 declining and with 6 stocks having a higher bids than the last traded price and 5 closing with lower offers.
The Junior Market ended trading with an average of 84,599 units for an average value of $449,894 compared to 421,400 units for an average value of $1,619,355 on Friday. The average volume and value for the month to date amounts to 74,820 units valued at $371,129 compared 74,208 units valued at $366,206 previously. In contrast, June closed with averages of 395,969 units valued at $1,799,200 for each security traded.
At the close of the market, AMG Packaging closed at $3.50 with 7,486 units changing hands, Blue Power dived $4 to close at $45 with 143 units, CAC 2000 lost 31 cents with 500 shares trading to end at $6.40, Caribbean Cream jumped by $1 and closed trading with 3,205 units at $6, Caribbean Producers lost 23 cents to close trading with 700 units, at $3.07, General Accident lost 20 cents and closed trading with 14,242 shares at $2.50, ISP Finance slipped $2 and closed with 23,500 units changing hands at $12, Jetcon Corporation traded 142,419 shares to end at $4.50, after slipping 4 cents, KLE Group ended at $2 with 31,325 shares changing hands, Knutsford Expressclimbed $1 in trading 591 shares to end at $15, Lasco Distributors closed 59 cents higher at $6.90 after trading 552,000 units, Lasco Financial lost 5 cents and ended with 235,000 shares changing hands at $3.50, Lasco Manufacturing shed 30 cents and ended with 418,482 shares trading at $4.50, Main Event lost 30 cents to close with 689 shares trading at $5.30,  Medical Disposables rose 1 cent, ending at $5.51 with 250 units trading, Paramount Trading gained 20 cents and ended with 1,000 units changing hands at $2.95 and  tTech traded 33,400 units, falling 40 cents to close at $9.60.

Express Catering enters TOP 10

Ian Dear, Managing Director of Express Catering

Trading started in Express Catering shares on Friday on the Junior Market, with the stock enjoying strong demand up to the $3 level. New information obtained this past week from the prospectus resulted in the earnings for this company being upgraded and it is included in the TOP stocks.
Importantly for Express Catering, the prospectus states that effective at the end on of May, the contract that gave rise to the payment of management fees was cancelled. The amount, the equivalent to 9 percent of revenues or roughly US$1.4 million will no longer be paid and should go towards boosting the bottom-line, and should result in the earnings per share around J$0.26 cents for 2018 fiscal year. The change means it is now a part of the TOP 10 Junior Market stocks. With the strong demand for the stock, it should spend just a short time in the list. The same out turn seems likely for Stationery and Office Supplies (SOS) once it starts to trade, with the IPO being nearly 4 times oversubscribed with more than 1,000 applications received for the 52 million shares.
With the initial public offers now out of the way, trading in the secondary markets saw more energy in the past week than for the previous two, with some stocks that were weak before, finding buying at the lower prices.
ISP Finance price rose to $14 after falling to $11 during the past week, but big declines in the prices of AMG Packaging and Caribbean Cream pushed out ISP as well Caribbean Flavours and CAC 2000 out of the top listing.
The only movement in and out of the TOP 10 in the main market were Sagicor Group that spent just one week a short while ago, coming back, as Cable & Wireless dropped out with a big gain in the price in the past week of 17.5 percent.
The average PE ratio for the Junior Market Top stocks is down at 6.6 with SOS in at a PE of 5 times 2017 earnings. The PE for the main market TOP 10, holds at 6.7. The average PE for the overall main market, remains at 13 and 12 for Junior Market, based on 2017 estimated earnings.
At the close of the week, IC Insider.com’s TOP 10 Junior Market stocks now trade at an average discount of 45 percent to the Junior Market average, while those in the main market are trading at a 49 percent discount, to the average of the market, leaving stocks with room for growth in the months ahead.
Last week IC Insider indicated that two stocks to watch were Cable & Wireless with the price around support level and NCB Financial with very limited number of stocks currently being offered. Both stocks bounced with the former rising over 17 percent to 94 cents and NCB rising to $75 from $71.50. Active supply for NCB is very low currently and technical chart suggests a big break out for it very soon. NCB is to be watched for a possible break towards $80 and Express Catering to well over $3.

Massive demand for Express Catering

Gary Peart of Mayberry,King of the the IPO market.

Trading on the Junior Market picked up sharply on Friday as the newly listed Express Catering started trading but hardly contributed to the level of trading with supply being low and demand overwhelming, that would have resulted in the price reaching $3, if the circuit breaker did not prevent it.
By the close there were more than 7.64 million units on the bid for Express Catering, ranging from $2.20 to a high of $3.15, which were all cancelled, in addition, those between $2.01 up to $2. The official position at the close was the highest bid of $2 with interest to buy 1.045 million units, the stock can trade at $2.60 maximum on Monday, which is 30 percent higher than the bid of $2.
Trading was dominated by Caribbean Flavours with 1.4 million units, Jetcon Corporation with over 600,000 shares and Lasco Manufacturing with nearly 2.3 million shares. In the end the, 8,428,003 shares valued at $32,387,101 traded with the new listing accounting for just 100 units at $1.74 to record a gain of 24 cents on the initial public issue price. In contrast, on Thursday, only 565,346 shares valued at $3,255,463 traded. At the close, the market index rose 15.05 points to 2,956.28
At the close 20 securities traded, down from 21 on Thursday with 8 stocks gaining and 1 declining. Trading closed with 4 stocks having a higher bids than the last traded price and 2 closing with lower offers.
The Junior Market ended trading with an average of just 421,400 units for an average value of $1,619,355 compared to 26,921 units for an average value of $155,022 on Thursday. The average volume and value for the month to date amounts to 74,208 units valued at $366,206 compared 51,062 units valued at $282,663 previously. In contrast, June closed with averages of 395,969 units valued at $1,799,200 for each security traded.
At the close of the market, Access Financial Services added 49 cents to close at $46.50 in trading traded 413 units AMG Packaging gained 40 cents to close at $3.50 with 8,000 units changing hands, CAC 2000 rose just 1 cents with 36,639 shares trading to end at $6.71, Cargo Handlers ended trading 1,312 shares to close at $13.75, Caribbean Cream closed trading with 35,000 units at $5, Caribbean Flavours traded 1,400,000 units to end at $12, Caribbean Producers lost 10 cents and closed trading with 15,936 units, at $3.30, Derrimon Trading ended at $8 with 10,404 shares changing hands, Dolphin Cove ended at $17.50 with 1,000 shares changing hands, Eppley jumped $1.15 and closed trading with 3.481 shares at $12.95, General Accident lost 2 cents and closed trading with 9,637 shares to end at $2.70, ISP Finance jumped $3 and closed with 5,858 units changing hands at $14, Jetcon Corporation traded 635,488 shares to end at $4.54, Key Insurance ended at $3.05 with 12,101 shares changing hands, Knutsford Express traded 11,540 shares to end at $14, Lasco Distributors closed 6 cents higher at $6.31 after trading 128,623 units, Lasco Financial ended with 15,048 shares changing hands at $3.55, Lasco Manufacturing gained 20 cents and ended with 2,260,729 shares trading at $4.80, Main Event closed with 11,972 shares trading at $5.60 and strong> Medical Disposables ended at $5.50 with 6,100 units trading, Paramount Trading ended with 1,140 units changing hands at $2.75.

Junior Market falls again on Thursday

Caribbean Cream ended at a 52 weeks’ low of $5.

The Junior Market closed lower on Thursday with the market index slipping 19.82 points to 2,941.23 as 565,346 shares valued at $3,255,463 traded, versus a mere 192,720 units traded valued at $1,219,105 on Wednesday.
At the close 21 securities traded, down from 14 on Wednesday with 4 stocks gaining and 7 declining. Trading closed with 3 stocks having a higher bids than the last traded price and 3 closing with lower offers.
The Junior Market ended trading with an average of just 26,921 units for an average value of $155,022 compared to 13,766 units for an average value of $87,079 on Wednesday. The average volume and value for the month to date amounts to 51,062 units valued at $282,663 compared 52,787 units valued at $291,780 previously. In contrast, June closed with averages of 395,969 units valued at $1,799,200 for each security traded.
At the close of the market, AMG Packaging fell 65 cents to close at $3.10 with 18,689 units changing hands, Blue Power saw just 200 shares trading to end with a loss of $1 at $49, Cargo Handlers ended trading 24,500 shares to close at $13.75, Caribbean Cream closed trading with 8,000 units and fell $1.60 to end at a 52 weeks’ low of $5, Caribbean Flavours traded 2,500 units to end at $12, Caribbean Producers lost 10 cents and closed trading with 15,936 units, at $3.30. Derrimon Trading ended at $8 with 16,000 shares changing hands, Dolphin Cove ended at $17.50 with 1,900 shares changing hands, General Accident gained 2 cents and closed trading with 3,000 shares to end at $2.72, Honey Bun gained 30 cents and closed trading with 19,359 shares at $6, ISP Finance dropped $2 and closed with 31,752 units changing hands at $11, Jamaican Teas lost 20 cents and ended trading 82,972 shares at $4, Jetcon Corporation traded 266,595 shares to end at $4.54, Key Insurance ended at $3.05 with 12,101 shares changing hands, Knutsford Express traded 19,583 shares to end at $14, Lasco Distributors closed 1 cent lower at $6.25 after trading 7,138 units, Lasco Financial ended with 5,301 shares changing hands at $3.55, after rising 15 cents, Main Event rose 10 cents with 13,322 shares trading to end at $5.60, Medical Disposables ended at $5.50 with 6,100 units trading, Paramount Trading ended with 7,785 units changing hands at $2.75 and tTech traded 1,813 units to close at $10.

Junior Market trading nosedives – Wednesday

Trading continued on a down ward path each day of the week and hit rock bottom on Wednesday as a mere 192,720 units traded on the Junior Market on Tuesday down from 401,316 units on Tuesday. Traded value declined to $1,219,105 from $2,286,974.
At the close 14 securities traded, down from 16 on Tuesday with the market index posting a loss of 9.36 points to end at 2,961.05 with no stock gaining and 6 declining.
Trading closed with 6 stocks having a higher bids than the last traded price and 5 closing with lower offers.
The Junior Market ended trading with an average of just 13,766 units for an average value of $87,079 compared to 25,082 units for an average value of $142,936 on Tuesday. The average volume and value for the month to date amounts to 52,787 units valued at $291,780 compared 55,788 units valued at $307,527 previously. In contrast, June closed with averages of 395,969 units valued at $1,799,200 for each security traded.
At the close of the market, CAC 2000 lost 3 cent to end at $6.70 with 20,000 shares trading, Consolidated Bakeries ended with 6,300 units changing hands, to close at $2.62. Derrimon Trading ended at $8 with 2,909 shares changing hands, Dolphin Cove ended at $17.50 with 2,805 shares changing hands, General Accident closed trading with 2,960 shares to end at $2.70, Honey Bun closed trading with 8,000 shares at $5.70, Jamaican Teas ended trading 28,604 shares at $4.20, Jetcon Corporation traded 13,500 shares to end at $4.54, Knutsford Express traded 23,400 shares to end at $14, after falling 50 cents, Lasco Distributors closed 11 cents lower at $6.26 after trading 598 units, Lasco Financial ended with 1,500 shares changing hands to end at $3.40, Lasco Manufacturing fell 17 cents and ended with 37526 shares trading at $4.60, Main Event ended with 46,415 shares trading to end at $5.50, Sweet River fell 1 cent and ended with 863 units changing hands at $3.50 and strong> tTech traded 300 units to close at $10.

More declines for Junior Market – Tuesday

Trading which dropped sharply on the Junior Market on Monday declined even more on Tuesday with only 401,316 units changing hands down from 671,349 units trading on Monday. Traded valued also declined to $2,286,974 from $3,163,547.
At the close 16 securities traded, up from 21 on Monday with the market index posting a loss of 16.66 points to end at 2,970.41 as the price of 6 stocks advanced and 5 declined. Trading closed with 3 stocks having a higher bids than the last traded price and 3 closing with lower offers.
The Junior Market ended trading with an average of just 25,082 units for an average value of $142,936 compared to 31,969 units for an average value of $150,645 on Monday. The average volume and value for the month to date amounts to 55,788 units valued at $307,527 compared 58,347 units valued at $321,243 previously. In contrast, June closed with averages of 395,969 units valued at $1,799,200 for each security traded.
At the close of the market, Access Financial Services lost 4 cents to close at $46.01 in trading traded 413 units, CAC 2000 gained 1 cent to end at $6.73 with 10,000 shares trading, Caribbean Producers lost 10 cents and closed trading with 17,628 units, at $3.40, Consolidated Bakeries ended with 29,635 units changing hands, to close at $2.62 General Accident closed trading with 2,960 shares to end at $2.70, Honey Bun . lost 14 cents to close trading with 2,000 shares at $5.70, ISP Finance dropped 50 cents and closed with 12,000 units changing hands at $13, Jamaican Teas ended trading 9,700 shares at $4.20, Jetcon Corporation traded 12,961 shares and rose 5 cents to end at $4.54, Knutsford Express traded 750 shares to end at $14.50, after falling 20 cents, Lasco Distributors closed at $6.37 after trading 164,442 units, Lasco Financial ended with 500 shares changing hands to end at $3.60, Lasco Manufacturing fell 3 cents and ended with 117,131 shares trading at $4.77, Main Event rose 32 cents with 3,048 shares trading to end at $5.50, tTech added $2 trading 17,148 units to close at $10 and Eppley 9.5% preference share lost 5 cents to close at $6 with 1,000 units trading.

Junior Market trading drops sharply – Monday

Trading dropped sharply on the Junior Market on Monday with only 671,349 units changing hands well off the 3,595,987 units trading on Friday. Traded valued also declined to $3,163,547 from $20,377,796.
At the close 21 securities traded, up from 18 on Friday with the market index posting a loss of 21.57 points to end at 2,987.07 as the price of 6 stocks advanced and 11 declined. Trading closed with 5 stocks having a higher bids than the last traded price and 3 closing with lower offers.
The Junior Market ended trading with an average of just 31,969 units for an average value of $150,645 compared to 199,777 units for an average value of $1,132,100 on Friday. The average volume and value for the month to date amounts to 58,347 units valued at $321,243 compared 60,745 units valued at $336,751 previously. In contrast, June closed with averages of 395,969 units valued at $1,799,200 for each security traded.
At the close of the market, Access Financial Services lost 45 cents to close at $46.05 in trading traded 166 units AMG Packaging fell 25 cents to close at $3.75 with 11,335 units changing hands, Blue Power saw investors buying 2,082 shares at $50, CAC 2000 rose 15 cents to end at $6.72 with 10,000 shares trading, Cargo Handlers dropped 75 cents in trading 3,000 shares to close at $13.75, Caribbean Cream closed trading with 500 units and fell 40 cents to end at $6.60, Caribbean Producers added 49 cents and closed trading with 300,000 units, at $3.50, / Derrimon Trading ended with 2,133 units changing hands, to close at $8 after falling 2 cents. General Accident closed trading with 300 shares to end at $2.70, Honey Bun lost 27 cents to close trading with 5,000 shares at $5.84, >ISP Finance dropped 6 cents and closed with 6,700 units changing hands at $13.50, Jamaican Teas gained 20 cents and ended trading 300 shares at $4.20, Jetcon Corporation traded 10,354 shares and rose 19 cents to end at $4.49, Knutsford Express traded 1,700 shares to end at $14.75, after falling 10 cents, Lasco Distributors added 12 cents and closed at $6.37 after trading 115,667 units, Lasco Financial ended with 94,678 shares changing hands to end at $3.60, Lasco Manufacturing rose 10 cents and ended with 6,363 shares trading at $4.80, Main Event dropped 75 cents with 75,392 shares trading to end at $5.18, Medical Disposables ended at $5.50 with 21,679 units trading, and tTech dived $2 trading 2,425 units to close at $8.

ISP Finance and C&W back in TOP 10

Pull back in the prices of several Junior Market stocks, resulted in changes in the TOP 10 junior stocks at the close of the week. The changes took place against the back ground of an unprecedented 5 issues of new shares around the same time in the market.
Some investors are of the view the public issue of shares all coming around the same time, contributed to the softness in the market over the past two weeks.
On Wednesday, this week, IC Insider.com BUY RATED Stationery and Office Supplies (SOS opens to the public for purchase, at a priced of $2 and is expected to close on the same day it opens. Express Catering IPO opened and close last week Wednesday with more than 1,000 applications received.
ISP Finance price dropped to $13.56 during the past week to re-enter the Top 10. Returning back to the TOP 10 are Caribbean Flavours and Lasco Distributors
Moving out of the top list are AMG Packaging, Lasco Manufacturing with the price rising to $4.70 from $4.30 at the close of the previous week and tTech with the price rising 50 cents to a record $10.
In the main market Sagicor Group spent just one week in the top listing with the price moving from$30 at the end of the previous week to end at $33 and is replaced by Cable & Wireless with the price down under $1 at 80 cents, support for the stock is around 75 cents, hence it could bounce back from these levels soon.

NCB Financial Group is worth watching keenly in the days and weeks ahead.

Market movement continues to be constrained by near term resistance points, it does not prevent stocks from moving in either direction, but it will tend to keep prices overall from big movements upwards.
The average PE ratio for the Junior Market Top stocks is down at 6.8 with SOS in at a PE of 5 times 2017 earnings. The PE for the main market holds at 6.7. The average PE for the overall main market, remains at 13 and 12 for Junior Market, based on 2017 estimated earnings.
At the close of the week, IC Insider.com’s TOP 10 Junior Market stocks now trade at an average discount of 43 percent to the Junior Market average, while those in the main market are trading at a 49 percent discount, to the average of the market, leaving stocks with room for growth in the months ahead in the market.
Two stocks to watch are Cable & Wireless with the price around support level and NCB Financial with very limited number of stocks currently being offered.

Trading jumps on Junior Market – Friday

Caribbean Producers commanded the largest trade on Friday.

Trading picked up on the Junior Market with more than 3,595,987 units changing hands, well up on the 786,779 units trading on Thursday. Traded valued also climbed sharply over Thursday’s low level of $4,004,721 to end at $20,377,796.
At the close 18 securities traded, up from 17 on Thursday, with the market index posting a loss of 31.61 points to end at 3,008.64, as the price of 6 stocks advanced and 8 declined. Trading closed with 1 stock having a higher bid than the last traded price and 4 closing with lower offers.
The Junior Market ended trading with an average of 199,777 units for an average value of $1,132,100 compared to 46,281 units for an average value of $235,572 on Thursday. The average volume and value for the month to date amounts to 60,745 units valued at $336,751, compared 46,842 units valued at $257,217 previously. In contrast, June closed with averages of 395,969 units valued at $1,799,200 for each security traded.
At the close of the market, Blue Power saw investors buying 419 shares and close $6 higher at $50, Caribbean Producers shed 68 cents and closed trading with 2,407,473 units, at $3.01, Derrimon Trading ended with 500 units changing hands, to close at $8.02 after adding 2 cents. Dolphin Cove dived $2.50 to end at $17.50 with 503,584 shares changing hands, General Accident closed trading with 59,606 shares to end at $2.70, Honey Bun climbed 57 cents to close trading with 281,092 shares at $6.11, ISP Finance dropped $2.39 and closed with 1,500 units changing hands at $13.56, Jamaican Teas gained 20 cents and ended trading 200,000 shares at $4, Jetcon Corporation traded 12,400 shares and fell 20 cents to end at $4.30, KLE Group ended at $2.10 with 450 shares changing hands, Knutsford Express traded 1,610 shares to end at $14.85, after falling 15 cents, Lasco Distributors fell 73 cents and closed at $6.25 after trading 18,200 units, Lasco Financial ended with 12,497 shares changing hands and fell 10 cents to end at $3.60, Lasco Manufacturing rose 30 cents and ended with 27,727 shares trading at $4.70, Main Event rose 33 cents with 14,828 shares trading to end at $5.93, Medical Disposables ended at $5.50 with 747 units trading, Sweet River fell 4 cents and ended with 12,000 units changing hands at $3.51 and tTech traded 41,354 units to close at $10.