Junior Market climbed higher – Monday

Fontana ended at a record close of $4.80.

Trading levels dropped on the Junior Market on Monday with the number of securities falling compared to Friday.
Trading volume fell 47 percent and the value traded fell 63 percent from Friday’s levels,
ending with 28 securities changing hands and an exchange of 931,633 units valued at $3,535,851, compared to trading of 32 securities and 1,771,092 units valued at $9,457,886, on Friday.
Although, trading levels declined, the market climbed 23.23 points to 3,098.42 as the prices of 11 securities advanced, 9 declined and 8 remained unchanged.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 3 stocks ended with bids higher than their last selling prices and 2 with lower offers.
Trading ended with an average of 33,273 units for an average of $126,280 in contrast to 55,347 units for an average of $295,559 on Friday. The average volume and value for the month to date amounts to 87,372 units valued at $314,379 and previously, 94,551 units valued at $339,340. In contrast, April closed with an average of 87,963 units valued $317,267 for each security traded.
At the close of the market, Access Financial closed $1 higher at $45, with 620 shares traded, AMG Packaging ended with a loss of 1 cent at $1.89, with an exchange of 26,107 stock units, Blue Power concluded trading of 2,100 units, at $4.60, Caribbean Flavours declined by 50 cents, to close at $16, with 770 stock units changing hands. Caribbean Producers finished trading 3,020 units and rose 39 cents to $4.99, Consolidated Bakeries closed at $1.80, with an exchange of 2,850 shares, Derrimon Trading ended at $2.68, in exchanging 17,732 shares, Everything Fresh settled 2 cents higher at $1.62, with 48,759 units changing hands. Express Catering traded 8,114 shares and rose 13 cents, to end at $7.29, FosRich Group finished trading 21,724 shares and gained 27 cents to a new closing high of $4.67, Fontana closed 30 cents higher at a new closing high of $4.80, with an exchange of 200,841 stock units. General Accident jumped 87 cents higher to $4.89, with 5,100 units changing hands, GWest Corporation concluded trading of 34,500 shares, with a loss of 4 cents at $1.35, Honey Bun finished with a loss of 5 cents at $4.05, with an exchange of 47,710 shares, iCreate settled at 90 cents, with 2,500 shares trading. Indies Pharma ended trading 281,171 stock units after adding 14 cents in closing at $3.34, Jamaican Teas closed 10 cents higher at $4.20, with 1,898 shares changing hands, Jetcon Corporation  ended with a loss of 18 cents at $2.30, with 8,088 shares crossing the exchange, but traded earlier, at an intraday 52 weeks’ low of $2.29. Key Insurance  concluded trading with 1,247 stock units, after rising 20 cents to end at $3.90, Lasco Distributors traded 65,399 shares with a loss of 1 cent at $3.89,  Lasco Financial  ended at $5, with 28,300 shares changing hands, Lasco Manufacturing  finished with a loss of 2 cents at $3.50, in trading 15,511 stock units. Main Event closed 60 cents higher at $5.60, with an exchange of 888 units, Paramount Trading  concluded trading with 11,750 shares at $2.10, SSL Venture Capital finished at $1.70, with 2,846 shares passing through the exchange. Stationery and Office settled at $7.01 with 60,158 stock units changing hands and tTech traded with a loss of 10 cents at $6.10, with the trading of 6,300 shares. In the junior market preference segment, Derrimon Trading ended with a loss of 8 cents at $1.90, with 25,630 stock units changing hands.

Prices of securities trading for the day are those at which the last trade took place.

Junior Market inched higher – Friday

FosRich traded at an all-time high of $4.99 on Friday.

The Junior Market index to closed just 7.96 points higher at 3,068.50 on Friday, with an increase in the number of securities trading and marginally higher volume and value than on Thursday.
Trading ended with 32 securities changing hands, leading to an exchange of 1,771,092 units valued at $9,457,886, compared to trading of 28 securities leading to 1,831,466 units valued at $7,827,314on Thursday. At the close of market activities, the prices of 16 securities advanced, 11 declined and 5 remained unchanged.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 3 stocks ended with bids higher than their last selling prices and 6 with lower offers.
Trading ended with an average of 55,347 units for an average of $295,559 in contrast to 65,410 shares for an average of $279,547 on Thursday. The average volume and value for the month to date amounts to 94,551 units valued at $339,340 and previously, 101,559 units valued at $347,167. In contrast, April closed with an average of 87,963 units valued $317,267 for each security traded.
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 7 with lower offers.
At the close of the market, Access Financial closed with a rise of 80 cents to $44, with 956 shares traded, AMG Packaging ended with a loss of 10 cents at $1.90, with an exchange of 10,000 stock units, Blue Power closed 40 cents higher at $4.60 in trading of 100 units. CAC 2000 jumped 75 cents to $12, with 250 shares changing hands, Cargo Handlers settled at $10.95, with 100 shares trading, Caribbean Cream ended trading of 15,278 shares with a loss of 3 cents at $5.27, Caribbean Flavours traded 7,103 stock units at $16.50, Caribbean Producers finished trading of 14,680 units and lost 1 cent to close at $4.60. Consolidated Bakeries closed with a loss of 5 cents at $1.80, with 6,600 shares crossing the exchange, Derrimon Trading lost 7 cents to end at $2.68, trading 40,082 shares, Dolphin Cove concluded trading of 203,000 shares, at $12.05, Everything Fresh finished 5 cents higher at $1.60, with 324,146 stock units changing hands. Elite Diagnostic ended trading of 42,038 shares with a loss of 1 cent at $3, Express Catering rose 1 cent to $7.16 in trading 4,365 shares, FosRich Group exchanged 14,774 shares to close at $4.40 after trading at an intra-day high of $4.99, Fontana rose 10 cents to $4.50, with 195,988 stock units changing hands. General Accident ended with a loss of 18 cents at $4.02, with an exchange of 130,000 units, Honey Bun finished 5 cents higher at $4.10, in trading 500 shares, iCreate settled 5 cents higher at 90 cent, with 33,000 shares changing hands, Indies Pharma ended trading of 53,782 stock units with a loss of 15 cents at $3.20. Iron Rock exchanged 2,576 units with a gain of 40 cents to $3.90, ISP Finance a lost $1.30 cents to close at $11.20 while trading 78,500 shares with, Jamaican Teas  closed 10 cents higher at $4.10, with an exchange 18,290 shares, Jetcon Corporation ended 18 cents higher at $2.48, in trading 300 shares. Key Insurance  concluded trading of 100 stock units and rose 45 cents higher to $3.70,  Knutsford Express added 5 cents to end at $13, with 5,600 shares changing hands, Lasco Distributors  ended trading of  55,252 shares, at $3.90, Lasco Financial gained 50 to end at $5, with an exchange of 26,163 shares. Lasco Manufacturing traded 14,145 stock units, and closed with a loss of 8 cents at $3.52, Paramount Trading concluded trading of 25,572 shares, and lost 10 cents to close at $2.10, SSL Venture Capital finished 10 cents higher at $1.70, with 1,800 shares changing hands and tTech traded 446,052 shares and led to a 95 cents jump to close at $6.20.

Prices of securities trading for the day are those at which the last trade took place.

Trading drops on Junior Market – Tuesday

Main market volume contracts.

The Junior Market lost momentum on Tuesday with an exchange of 1,594,633 units at $6,823,033 compared to 4,742,829 units valued at $18,023,858 on Monday, as 23 securities changed hands, versus 28 previously.
The market index slipped 7.23 points to 3,121.21 as the prices of 9 stocks rose, 7 declined and 7 remained unchanged.
Trading ended with an average of 69,332 units for an average of $296,654 in contrast to 169,387 units for an average of $643,709 on Monday. The average volume and value for the month to date amounts to units 124,264 valued at $487,194. In contrast, March closed with an average of 195,942 shares valued at $777,498 for each security traded.
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 6 with lower offers.
At the close of the market, Access Financial closed at $45.50, with an exchange of 7,807 shares, AMG Packaging ended 1 cent higher at $2.16, with 5,000 stock units changing hands, Blue Power concluded trading of 72,817 units, with a loss of 20 cents in closing at $4.30, Cargo Handlers settled at $11, in trading 1,500 shares. Caribbean Producers finished trading of 41,150 units with a rise of 19 cents to end $4.99, Consolidated Bakeries closed 4 cents higher at $2.09, with an exchange of 2,448 shares, Derrimon Trading ended at $2.65, with an exchange of 16,113 shares, Everything Fresh finished with a loss of 5 cents at $1.40, trading 244,900 stock units. Elite Diagnostic settled with a rise of 16 cents at $3.16, in trading 1,000 units, Express Catering swapped 33,377 shares after rising 20 cents higher at $8, FosRich Group traded 4,777 shares, in rising 65 cents higher to $4.40, Fontana finished trading at $4.05, with 770,452 shares, Honey Bun concluded trading at $4, with 34,550 shares. iCreate rose 1 cent to close at $1.01, with an exchange of 6,590 shares. Iron Rock settled with a loss of 1 cent at $3.98, trading 5,000 shares, Jamaican Teas  traded 12,224 units and rose 10 cents higher to $4,  Jetcon Corporation traded 17,185 shares, at $2.80,  Key Insurance  closed at $3.15, with 1,000 shares changing hands. Lasco Distributors finished with a loss of 19 cents at $3.70, with an exchange of 61,905 units, Lasco Manufacturing ended trading with 16,413 shares and closed 10 cents higher at $3.65,  Main Event  traded with a loss of 6 cents at $5.45, with 650 shares crossing through the exchange. SSL Venture Capital  ended with a loss of 5 cents at $1.65, with an exchange of 2,670 shares and Stationery and Office lost 5 cents to close at $6.75, with 235,105 shares changing hands.

Prices of securities trading for the day are those at which the last trade took place.

Junior Market index moved up – Tuesday

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Junior Market stock trading.


Trading ended on Tuesday with 31 securities changing hands, resulting in an exchange of 4,609,652 units valued at $19,878,004, compared to 6,329,310 units valued at $24,906,239.61 changing hands on Monday.
Trading on the Junior Market of the Jamaica Stock Exchange ended with on Monday with the Index advanced by 12.91 points to close at 3,179.14 as the prices of 9 securities rose, 9 fell and 13 remained unchanged.
Trading ended with an average of 148,698 units for an average of $641,226 in contrast to 204,171 units for an average of $803,427 on Monday. The average volume and value for the month to date amounts to 232,813 units valued at $666,944 and previously 148,698 units for an average of $641,226, in contrast to 204,171 units for an average of $803,427 previously. In contrast, January closed with average of 2,245,428 units with a value of $7,372,574 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 3 stocks ended with bids higher than their last selling prices and 2 with lower offers.
At the close of the trading,  AMG Packaging  ended with a loss of 10 cents at $2.35, with 130,507 stock units changing hands, Blue Power concluded trading 1,586 units, with a loss of 1 cent at $4.97, Caribbean Cream closed with a loss of 17 cents at $5.20, with an exchange of 7,000 shares. Caribbean Flavours  traded 3,605 stock units, at $18,  Caribbean Producers finished trading  11,200 units to close at $4.60, Consolidated Bakeries closed 20 cents higher at $2, with 100 shares changing hands, Derrimon Trading ended at $2.90, with 135,485 shares crossing the exchange’s trading platform. Dolphin Cove  concluded trading with 75,093 shares, with a loss of 95
cents to close at $14,  Everything Fresh  finished 10 cents higher at $1.75, in exchanging 12,000 stock units. Elite Diagnostic settled with a loss of 5 cents at $3.10,  trading 4,900 units, Express Catering ended trading of 694,970 shares, with a loss of 16 cents to close at $7.30, FosRich Group traded 34,968 shares, at $4, Fontana closed trading 8 cents higher at
$3.99, with 511,282 shares changing hands. General Accident jumped 49 cents higher to $4.49, with an exchange of 1,038,615 stock units, GWest Corporation ended at $1.80, with 12,882 units trading, Honey Bun concluded trading of 1,100 shares for 7 cents more to end at $3.87, ICreate traded 561,314 and lost 4 cents to close at $1.05. Indies Pharma finished 13 cents higher at $2.83, trading 13,467 shares. Iron Rock settled at $3.50, with 92,970 shares changing hands, Jamaican Teas  traded 15 cents higher at $4, with an exchange of 19,276 units, Jetcon Corporation  finished trading 108,985 shares, at $3,  Key Insurance  closed at $3, with the trading of 5,000 shares. Knutsford Express  concluded trading with 3,814 stock units at $12.90, Lasco Distributors  closed at $3.80, with 1,047,602 units changing hands, Lasco Financial settled with a loss of 20 cents at $4.60, after trading 10,462 shares, Lasco Manufacturing ended trading 10,451 shares with a loss of 2 cents to close at $3.25. Main Event traded with a loss of 20 cents at $5.60, with 1,236 shares changing hands, Medical Disposables rose 11 cents to close at $6.60, trading 19,900 stock units, SSL
Venture Capital
 ended at $1.95, with 15,000 shares trading and Stationery and Office concluded trading of 5,259 shares with a rise of 8 cents to $8.33. In the Junior Market preference segment, Derrimon Trading 9% ended at $2.10, with 19,623 stock units trading.

Prices of securities trading for the day are those at which the last trade took place.

Sharp jump in Junior Market trading – Friday

In a long delayed but shortened trading session on Friday, the Junior Market traded volume jumped 154 percent over Thursday’s levels while the value of trades increased by 203 percent resulting from 1,085,040 units valued at $5,213,905 compared to 426,549 units valued at $1,722,476 on Thursday,
Trading ended, with 25 securities changing hands, up from 15 trading on Thursday. The prices of 8 securities rose 9 declined and 8 remained unchanged leading the Junior Market Index to decline 9.24 points to 3,252.12 at the close.
The average trade ended at 43,402 units for an average of $208,556 in contrast to 28,437 units for an average of $114,832 on Thursday. The average volume and value for the month to date amounts to 35,515 units valued at $154,760 and previously 30,037 units valued at $117,401. In contrast, December ended with an average of 136,222 units at a value of $737,367 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 higher bids than their last selling prices and 2 closing with lower offers.
At the close of the day’s activities, Access Financial ended with a loss of $2.03 at $50.55, with 8,692 shares changing hands, AMG Packaging ended 3 cents higher at $1.90, trading 60,400 stock units, Cargo Handlers settled at $15, with an exchange of 11,000 shares, Caribbean Cream closed 8 cents higher at $5.90, in trading 5,445 shares. Derrimon Trading ended at $2.45, with 150,489 shares changing hands, Dolphin Cove concluded trading of 355 shares, at $16.50, Elite Diagnostic finished with a loss of 4 cents at $2.90, with an exchange of 20,996 stock units, Everything Fresh ended trading of 128,018 shares to close at $1.90. Express Catering settled with a loss of 29 cents at $7.90, with the trading 265,900 units, FosRich Group ended trading of 4,821 shares and rose 4 cents higher to $3.90. General Accident traded 75,107 shares with a loss of 2 cents at $3.38,  Honey Bun  closed with a loss of 5 cents at $3.85, with 13,750 stock units changing hands, Indies Pharma  closed trading of 50,512 shares at $3.25, ISP Finance  concluded trading 3,300 shares at $1 higher to end at $13. Jamaican Teas  finished 10 cents higher at $4, exchanging 500 shares. Key Insurance  ended trading at $4, with an exchange 10,000 stock units, KLE Group  traded 42,700 units at $3,  Knutsford Express  closed trading of 1,100 shares with a loss of 50 cents at $12.50.  Lasco Distributors  closed 7 cents higher at $3.89, with 169,003 shares changing hands, Lasco Financial  ended with a loss of 16 cents at $4.60, after 25,861 shares changed hands, Lasco Manufacturing  concluded trading with 13,300 stock units for a gain of 1 cent to $3.99.  Medical Disposables  settled 50 cents higher at $7, with the trading of 10,588 shares, Paramount Trading exchanged 4,122 shares at $2.90,  SSL Venture Capital lost 1 cent in trading 5,115 shares to end at $1.93 and  Stationery and Office traded with a loss of 5 cents at $8.10, with 3,966 shares changing hands.

Prices of securities trading for the day are those at which the last trade took place.

Junior Market inched higher – Thursday

Trading on the Junior Market of the Jamaica Stock Exchange ended on Thursday with a miniscule increase in the Index of 2.46 points to 3,168.22 after 11 securities advanced, 5 declined, while 7 remained unchanged as 23 securities changed hands versus 23 on Wednesday.
Trading resulted in an exchange of 1,715,859 units valued at $9,303,423 compared to 5,429,367 units valued at $18,378,072 on Wednesday.
Trading ended with an average of 74,603 units for an average of $404,497 in contrast to 236,059 units for an average of $799,047 on Wednesday. The average volume and value for the month to date amounts to 204,876 units at a value of $657,021, versus 247,680 units $739,994, previously. November, ended with an average of 190,475 units valued at $653,358 for each security traded.
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 just 3 with lower offers.
At the close of the market activity, AMG Packaging ended 10 cents higher at $1.70, with 45,300 stock units changing hands, Cargo Handlers settled at $15, trading 8,130 shares, Caribbean Producers finished trading of 4,784 units, at $5.40, Consolidated Bakeries closed at $2.15, trading 2,000 shares, Derrimon Trading ended at $2.65, with an exchange of 111,364 shares. Elite Diagnostic finished trading with 15,140 stock units and rose 2 cents to $2.87, Eppley settled at $9, in exchanging 385 units, Express Catering ended trading with a loss of 20 cents at $7.60, with 14,000 shares, FosRich Group traded 5,200 shares with a loss of 40 cents at $3.60. General Accident finished trading 25 cents higher at $3.75, with 64,860 shares, GWest Corporation closed 10 cents higher at $1.55, with 10,000 stock units trading, Indies Pharma traded 411,391 shares and gained 3 cents to close at $3.15, Jamaican Teas settled at $3.70, while exchanging 42,931 shares, Jetcon Corporation ended trading 4,700 stock units for 40 cents higher at $3.40. Key Insurance  traded 14,900 units, with a loss of 2 cents at $4.98, Lasco Distributors ended with a loss of 10 cents at $3.90, exchanging 3,000 shares, Lasco Financial concluded trading with 166,552 stock units, 20 cents higher at $4, Lasco Manufacturing finished 15 cents higher at $3.45, with 117,500 units. Main Event settled at $6.50, trading 1,129 shares, Medical Disposables ended trading 51,500 shares and gained 30 cents to close at $6.50, Paramount Trading closed with a loss of 2 cents at $2.95, in an exchange of 6,906 shares, SSL Venture Capital traded 15,798 shares and added just 1 cent to end at $1.80 and Stationery and Office finished trading 30 cents higher at $8.95, with 598,389 stock units changing hands.

Prices of securities trading for the day are those at which the last trade took place.

Many more stocks to watch now

NCB had a good 2018 fiscal year with strong profit gains that boosted interest in the stock.

There was another big insider trade, in NCB Financial Group shares following last weeks’ big trade valued at $650 million.
Jamaica’s largest financial institution, advised the Jamaica Stock Exchange that a connected party sold 2,768,165 of the group’s shares and three directors and a senior manager purchased a total of 2,836,672 shares between November 23 and 26. This development is the clearest signs that the immediate future is extremely bright for the group.
The local stock market is showing major shift in sentiment with the news that Scotia Group is selling off of its insurance arm to Sagicor Group. The announcement drove up the prices of Scotia Group, Sagicor Group and Pan Jamaican that traded at a new high on Wednesday. But NCB continued to scale new highs on each day for the week. NCB has little supply coming onto the market as demand continues to climb.
All the above stocks are now the watch list, but investors must keep watch on Barita Investments that has shot up to a record high of $23 with a bid at $24.01. There is some amount of public chatter about the performance of the company that has encouraged more interest in the stock. The company will benefit from several developments in the financial market, including the impact of the change in accounting policy that will result in gains or losses in investments whether realized or not going straight to the profit and loss account. With growth in the stock market Barita should benefit in two ways, increased value of the portfolio, for example, 48 million JSE shares owned increasing around $100 million in the December quarter so far but Barita is said to also own shares in NCB that has risen sharply in price for the quarter. The equity linked unit trust will garner more fee income based purely on the fact that the portfolio would have grown based on gains in stock price. The other financial stock to be watched is Key Insurance that has traded over 21 million shares so far with the stock having a bid of $4 to buy over 911,000 shares. The movement in the Key shares seems like the start of an aggressive stance an investor, watch developments in this one keenly. Seprod also seems poised to rise with early selling from the public offer now appearing to be abating.
Mayberry Jamaican Equities is yet another to watch as the local stock market moves higher over the next several weeks and it could drag it mother company Mayberry Investments with it.

Barita is stock to watch this week

The main stock of interest this week is Barita Investments that came into buying interest this past week leading the price to move to $12.95, this one seems headed higher in the short term as the supply that  is on the market has been taken out with few stocks on offer now.
Bulls pushed the Jamaican stock market, to new heights last week, with the main market having 11 straight days of record highs and the Junior Market cleared the historical high reached in 2017, in the past week as well.
NCB Financial that was in the spotlight for the past two weeks, still has buying interest but seems to be having most bids around the $120 mark and may find it tough to break over the $130 mark where it traded during the past week.
While the stock is trading close the $130 mark in Jamaica, it is trading in Trinidad around J$115 and that may hold back the price from moving much higher locally until the price in the twin island state picks up. Scotia Group reported profit that showed gains, some of it was non-recurring income and exceptional foreign exchange gains that seems unlikely to repeat anytime soon.
While the supply of several of the main market stocks being scarce, the main market is just under 15,000 points from a major resistance level at 400,000 points and that could stymie much more movement in the short term, with some prices having moved quite a bit recently. There are several stocks priced well below the market’s average and that could encourage buying interest in them.

NCB stock closed at $129 on Friday.

Investors should keep their eyes on a number of stocks this week. NCB Financial that closed on $115, should move higher this week as demand continues to build and with limited supply on offer.
Grace Kennedy may not be ready to break out of the $60 range as yet but it’s a stock to keep an eye on. Caribbean Cement keeps trading between $46 to $50, but there appears no real desire to move the price forward. Kingston Wharves traded at a record high of $75 on limited volume in the past week but pulled back slightly to $72 at the close with a PE ratio of 46 is compared to a market average of 14.6. Supply of the stocks remain low, but some investors keep on buying. Sygnus Credit Investments picked up last week and moved back within a cent of the IPO price, buoyed by full year results of US$1.4 million. The PE ratio is 11.4, well below the market average of 14.6, that will encourage more interest in the stock. Jamaica Producers has very limited volume on offer and that could help buying at higher prices in spite of a PE of 28, twice the market average. Stanley Motta with a PE of 11 based on 2019 earnings has been recovering for the recent decline and is one to watch.
In the Junior Market, Indies Pharma, came in for continued buying that pushed the price to a record high of $4.10 on Friday against very limited supply. Some selling came into the market on Friday to ease the buying pressure on the price which could stick around the current level of $4 for a while. Bulls came in and bought out a big parcel of Access Financial that was on offer for weeks but the $50 level seems a barrier in the short term. Demand is building for Elite Diagnostic while supply has waned.

Jamaica Producers stock in demand in spite of high price.

General Accident could move higher as more demand comes in for it with limited selling, but investors may not want to be more aggressive with this stock at this time. If the company were to announce expansion into the Eastern Caribbean it may well make a difference.
Stocks with scarce supplies that could spring surprises include, Grace Kennedy, NCB Financial, Berger Paints, Caribbean Cement, Kingston Wharves, PanJam Investment, Sagicor Group, Salada Foods, Seprod and Scotia Group.
The Junior Market supplies continue to be limited for many of the listings. The list includes, Caribbean Flavours, Cargo Handlers, Derrimon Trading, Express Catering, General Accident, ISP Finance and Medical Disposables.
An overall view of stocks indicates that the main market continues to be steered higher by an upward sloping support line as well the 45 and 125 day moving averages, lending support just below, but the 400,000 points resistance could likely stall the rally in the main market for a while. The Junior Market now at an all-time high, is being steared by an upward rising long-term support line and a golden cross. The golden cross is a very strong bullish long-term signal.

Indies gains 167% since Junior Market IPO

Newly listed Junior Market stock, Indies Pharma jumped to a record $4 on Thursday, in recording gains of 167 percent since the IPO issue in July, at $1.50 per share.
The stock seems to have benefited from information from the company indicating the likely acquisitions and new products to come to market. Additionally, a look at the order book indicates very few stocks being offered for sale. Blue Power and Medical Disposables are two stocks that have benefited from good results recently to help push them to record closing highs on Thursday but AMG Packaging closed at a 52 weeks’ low.
The Junior Market having retreated for two consecutive days recorded gains at the close of trading on Thursday, with the market index rising 8.83 points to close at 3,365.20, as it pulled back from 3,388.43 high reached in the morning session.
Trading resulted in 25 securities, the same number that changed hands on Wednesday, leading to 11 advancing, 7 declining and 7 remaining unchanged, as investors exchanged 2,749,388 units valued at $12,888,595, compared to 3,271,099 units valued at $12,971,060 on Wednesday.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading had 5 stocks ending with bids higher than their last selling prices, 4 closed with lower offers.
Trading closed with an average of 109,976 units for an average of $515,544 in contrast to 130,844 units for an average of $518,842 on Wednesday. Trading for the month to date averages 732,567 units for an average of $4,441,049 and on the prior trading day, an average of 806,685 units for an average of $4,908,371. Trading in August, averaged 244,613 units at $1,348,298 for each security traded.
At the close of trading, Access Financial closed with a gain of $2.50 to close at $50, with an exchange of 250 shares, AMG Packaging ended with a loss of 1 cent at a 52 weeks’ low of $1.89, with 5,662 stock units, Blue Power concluded trading of 24,100 units and gained 50 cents to end at a 52 week’s high of $6.50, Cargo Handlers settled at $13, trading 5,187 shares, Caribbean Producers finished trading 1,143,307 units at $6. Consolidated Bakeries closed with a loss of 5 cents at $2.45, with 100 shares changing hands, Derrimon Trading ended at $3, while exchanging 566,924 shares, Dolphin Cove concluded trading 240 shares at $17, Elite Diagnostic finished trading of 141,028 stock units and rose 6 cents to $3.50. Everything Fresh dropped 34 cents in trading 69,825 shares to end at $2.10, Express Catering closed at $8.18, with 70,042 shares changing hands, FosRich Group traded with a loss of 5 cents at $3, exchanging 7,670 shares, Honey Bun ended 5 cents higher at $4.05, with the swapping of 24,500 units, Iron Rock concluded trading at $3.50, with 32,151 shares changing hands. Indies Pharma gained 35 cents with 235,244 shares changing hands to end at a record close of $4, Jamaican Teas jumped 45 cents to $4.65, with 120,000 shares trading, Jetcon Corporation ended trading 6,879 stock units and rose 5 cents to $4, Key Insurance traded 67 cents higher at $3.75, with the trading of just 900 units, Lasco Distributors ended with a loss of 23 cents at $3.77, trading 15,700 shares. Lasco Financial concluded trading with a loss of 45 cents at $5.45, with 58,922 stock units changing hands, Lasco Manufacturing closed with a loss of 9 cents at $3.90, in exchanging 94,100 units, Main Event settled 2 cents higher at $6, with 16,494 shares traded, Medical Disposables ended trading a mere 300 shares and gained $1.25 to a new high of $7.95 and Stationery and Office finished trading 29,363 stock units and rose 1 cent to $9.
Prices of securities trading for the day are those at which the last trade took place.

Access, Fosrich, JMMB now in IC TOP 10

Both the Jamaica Stock Exchange, main and Junior markets reached higher levels during the past week, with the main market hitting a series of new record highs. The coming weeks should see more gains as investors seek out opportunities as fixed interest returns have tanked.
The Top 10 has 3 changes, with Medical Disposables and Caribbean Producers moving out and making space for Access Financial and Fosrich Group in the Junior Market and JMMB Group coming in for is Berger Paints, with the latter jumping to $21.50 by the end of the week from $18 the week before.
Access Financial produced decent June quarter results with profit rising 16 percent to $217 million from $188 million for the 2017 quarter. The company is in the process of another acquisition, this time overseas, this should continue to help boost profit going forward. Fosrich posted good second quarter results and is on target to reach IC Insider.com’s forecasted earnings of 30 cents per share. Fosrich too, could be making an acquisition later this year, or early 2019, unofficial, but credible reports suggest. JMMB Group posted good first quarter results with a 59 percent increase in net profit. Some of the strong gains came from the relatively sharp fall in the value of the Jamaican dollar in the period that is not expected to continue.
The PE ratio for Junior Market Top stocks average 8.5 up marginally from 8.4 last week, as the market continues to revalue the multiple higher. The latest valuation compares to an average PE for the overall market of 13, based on 2018 estimated earnings. The main market PE is now 8.5 and is up from 8, last week, for the top stocks, compared to a market average of 13.7, a clear indication of the level of potential gains that can be made by owning these stocks. Work done by IC Insider.com suggests that the PE ratio is likely to end 2018 around 16 to 18 times earnings, as investors continue to upgrade the multiple they are prepared to pay for stocks, which would lift prices sharply over the next several months from current levels. The latest government bond offer with a 4.58 years tenor, was heavily oversubscribed, resulting in rates dropping to 3.95 percent, suggesting that investors are satisfied that the economic policies will continue to lead to low inflation for a considerable time. These rates suggest more funds will be going into stocks as liquidity remains high in the financial system.
The TOP 10 stocks now trade at an average discount of 35 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 38 percent to the market.
TOP 10 stocks are likely to deliver the best returns within a 12 months period. Stocks are selected based on projected earnings for each company’s current fiscal year. Based on an assumed PE for each, the likely gains are determined and then ranked, with the stocks with the highest potential gains ranked first followed by the rest, in descending order. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis based on new information received that can result in changes in and out of the list as well.