The Jamaica Stock Exchange market stocks indices fell in Tuesday morning trading with volume increasing over Monday’s levels.
At 10.55 am, a total of 28 securities traded, resulting in a volume of 2,592,474 shares changing hands carrying a value of $31,641,641, compared to 621,667 shares changing hands carrying a value of $3,693,105 on Monday.
The average number of shares traded amounts to 92,588 units compared to 28,258 on Monday. Market activity resulted in 10 stocks falling while the prices of 5 securities rose.
Cable & Wireless traded 103,300 units at 98 cents, JMMB Group 7.50% preference shares had 442,000 units at $1.10, Radio Jamaica 105,595 shares at $1.55, Sagicor Group traded 1,006,427 shares at $23.82, Caribbean Cream traded 55,000 at $9.45, Lasco Distributors had 203,221 shares traded at $7 after losing 89 cents and Lasco Financial Services had 301,293 units changing hands at $3.20.
The all Jamaica Composite Index fell 211.65 points to 186,202.76 the Jamaica Stock Exchange Market Index fell 189.25 points to 167,540.16, the Jamaica Stock Exchange combined index slipped 682.12 points to close at 180,322.46 and the junior market index dived 49.31 points to 2,428.47.
JSE shares fall in early trading – Tuesday
JSE majors gains juniors slip
Trading on the main market of the Jamaica Stock Exchange saw the market indices rising and the junior index slipping slightly after 45 minutes of trading on Thursday. The ratio of advancing stocks to declining ones was virtually even.
Up to 10:45 am, JMMB Group traded at a new 52 weeks’ high of $14.55 with 60,300 shares changing hands, Caribbean Cream fell 99 cents and last traded at $9.01 with 48,577 units changing hands but the stock traded at $10 initially, ISP Finance Services traded at a new high of $7 with 51,809 shares changing hands, Lasco Financial Services had 116,838 units trading at $3.30 and JMMB Group 7.50% traded 180,000 units at $1.10.
A total of 30 securities traded, resulting in a volume of 821,407 shares changing hands carrying a value of $7,914,772, compared to 1,437,120 shares changing hands carrying a value of $26,771,116 on Wednesday. The average number of shares traded amounts to 27,380 units compared to 51,326 on Wednesday. Market activity resulted in 10 stock falling while the prices of 9 securities rose.
The all Jamaica Composite Index rose 475.52 points to 185,454.27, the Jamaica Stock Exchange Market Index gained 425.19 points to 166,870.87, the Jamaica Stock Exchange combined index climbed 355.34 points to close at 179,703.50 and the junior market index declined 3.80 points to 2,428.63.
2 new highs for junior market
The junior market rose moderately but three stocks traded at 
new highs in the morning session as Caribbean Cream hit $10.20 in trading just 4,823 shares and Blue Power traded at $21. tTech traded up to $6 with 48,521 unit. The advance decline ratio was positive at more than 2 to 1.
At 11:45 am 38 securities traded, resulting in a volume of just 3,624,650 shares carrying a value of $18.2 million changing hands compared to 2,159,587 shares carrying a value of approximately $2.16 million on Tuesday. The average number of shares traded amounts to only The 95,386 units compared to 79,985 units on Tuesday. The number of stocks falling are 8 while the prices of 18 securities rose as the market continues to consolidate.
138 Student Living traded 641,007 units and gained 20 cents to $4.70 and Lasco Financial Services trades 1,266,578 shares but fell down to $3.10 from $3.45 at the close on Tuesday.
The all Jamaica Composite Index gained 102.03 points to 177,425.60, the Jamaica Stock Exchange Market Index climbed 91.24 points to 159,691.81, the Jamaica Stock Exchange combined index rose 270.06 points to close at 171,561.63 and the junior market index rose 18.06 points to 2,284.16.
Slow start to the week – Monday
The Jamaica stock market is off to a slow start for the week with low volumes in early Monday morning trading on the Jamaica Stock Exchange.
The leading trades are Radio Jamaica with 50,800 shares at $1.75 and Lasco Financial Services with 78,198 at $3.43 and tTech have 92,965 units changing hands at $4. Iron Rock Insurance has a bid to buy 4,676,395 shares at $3.23 but the stock has not traded so far.
Trading resulted in activity in 21 securities, accounting for a volume of 309,390 units as 6 stocks gained and 4 declined. The average number of shares traded amounts to just 14,733 units compared to an average of 132,153 units on Friday.
After 75 minutes of trading in the early morning session, on Monday, the all Jamaica Composite Index rose 306.23 points to 177,777.41, the JSE Market Index gained 273.81 points to 160,006.41, the JSE combined index climbed 263.72 to close at 171,568.14 points andthe junior market index rose a mere 0.96 points to 2,255.99.
Expansion weights down Lasco Financial
Lasco Financial Services reported lower profits for the quarter and nine months to December 2015. Net profit fell to $43.88 million in the quarter from $69 million in 2014, for the nine months profit fell to $158 million versus $181 million in 2014.
The company profit is now to taxes at 50 percent of the normal company’s tax rate.
Notwithstanding the fall in profits, third quarter revenues increased by $39 million or 19 percent over the corresponding 2014 period to $239 million and for the nine months, to $649 million, up 9.3 percent from $566 million in 2014.
Income from the company’s original source of business, increased by $31 million in the quarter. “All business lines grew the contribution to revenues; Remittance transactions and revenues continue to grow ahead of the industry and the Cambio and Loans divisions increased its transactions and revenues, following the expansion of the branch network. The increase in revenues from our new business lines and value added services resulted in Other Operating Income for the period growing by 100 percent to close the quarter at $14.4M” Managing Director Jacinth Hall-Tracey told shareholders in a report accompanying the results. For the nine months, the income was up by $79 million to $626 million, while other operating income grew to $33 million for the nine months, from $18.5 million and in the quarter, it rose from $7 million in 2014 to $14.4 million.
Nine months’ expenses increased 28 percent or $110M million resulting in a year to date operational profit of $164 million, 9 percent below the previous year’s $181 million. “We launched in September our first business loans branch and closed the quarter with three locations, two in Kingston and one in St. Catherine; two more will be opened in the first week of February. We also launched our Telecoms Division with the distribution deal for Huawei Smart Phones and wearable devices, rolling out eleven locations islandwide through our agent network. This investment impacted our expenses mainly due to a more than 50 percent increase in staff complement and the aggressive marketing support to launch the telecoms business launch the telecoms business,” Hall-Tracey advised shareholders.
Expenses for the quarter grew by 44 percent over the corresponding quarter to $189 million and from $385 million in the 2014 nine months period, to $495 million for an increase of 29 percent, much greater than the increase in revenues. Earnings per share is 13 cents for the nine months and should end around 18 cents for the year, but 2017 fiscal year should see a jump, as the expansion now underway starts to flow into profits.
The company’s stock closed trading on Friday at $4.25 at a PE of 23 times estimated March 2016 earnings.
JSE making strong gains on Thursday
Unlike Wednesday when trading was slow, market activity has picked up by driving the main market indices up by almost 1 percent 30 securities changed hands after 90 minutes of trading with a volume of 5,532,901 units as 13 stocks gained and 8 declined.
At 11 am, the all Jamaica Composite Index is jumped 1,451.46 points to 157,145.64, the JSE Market Index gained 1298.78 points to 141,549.32 the JSE combined index fell 1248.35 points to be at 147,861.31 and the junior market index rose 2.47 points to 1,592.19.
Interesting trades, with 75 minutes having elapsed, are Cable & Wireless with 508,750 units and last traded at $1.50 for a 2 cents fall from Wednesday’s last traded price, Jamaica Broilers with 241,027shares at $8.50, Mayberry Investments with 239,400 units at $4.70, National Commercial Bank traded 1,454,773 shares at $37.50, Scotia Group with 109,384 at $27.50, Supreme Ventures with 787,628 units at $5, Caribbean Producers having 327,996 shares trading at $5.60, Lasco Financial Services with 426,961 units at $3 and Lasco Manufacturing having 380,419 units at $3.22.
Confidence Vote in Xfund & more
Hotel property owned by Sagicor Real Estate Fund
Most recent reports show that a director of Sagicor Real Estate X Fund demonstrated strong faith in the future of the company, by purchasing 121,500 shares on November 20 at $9.90. The fund reported consolidated net profit attributable to stockholders of $1.04 billion for the nine months to September or 63 cents per share with net profit for the September quarter ending at $349 million or 17 cents per share. The quarterly results include capital gains on financial assets and liabilities of $279 million and $746 million for the year to date. The net asset at the end of September amounts to $6.83 with the selling at a premium of 46 percent above net assets.
Elsewhere, at Caribbean Flavours connected parties, purchased 212,000 units of the company’s shares on November 17 at $5, the stock last traded at $6.30 and should go higher with recent results showing growth in profits.
Insiders purchased NCB shares recently.
Lasco Financial Services that is expanding into new areas, saw a connected party purchasing 393,189 shares between November 5 and 23. At Sagicor Group an Executive and two Officers collectively purchased 497,634 of the company’s shares under the Executive Long Term Incentive Scheme on November 16 and 17, but on November 18 an Executive sold 365,400 shares.
Not all insiders were buyers, as Kingston Wharves advised that connected parties sold 12,523 units of its shares on November 17 and 18, while at Mayberry Investments connected parties purchased 4,058,034 units of the company’s shares while a related party sold 3,500,000 units on November 17 and a connected party purchased 127,443 shares on November 18.
Caribbean Cream informed the stock exchange that a connected party sold 750,000 shares between October 28 to 30, while a related party purchased 2,895 shares on October 16.
Juniors break new ground with fresh high
Lasco Distributors closed at a new high of $2.55 on Wednesday.
The market index rose 31.56 points to end at a new all-time closing of 1,427.92 and has gained 103 percent since the start of the year. A total of 3,205,139 units, valued at $12,454,599 changed hands.
The market ended with 1 stock closing at new 52 weeks’ high, while 2 securities ended with no bids to buy and 7 had no stocks being offered for sale. A total of 7 stocks closed with bids higher than the last traded prices and none closed with a lower offer.
In trading, Access Financial closed at $11.60 with 5,000 units changing hands to end at of $11.55 while gaining $1.05, Caribbean Cream with 1,169,249 shares changing hands ended at $3.95, Caribbean Flavours traded 100,000 units to end at $4.50, Caribbean Producers traded 32,296 units for a rise of 5 cents to end at $3.05. Derrimon Trading ended at $3.10, with 25,070 units changing hands.
Dolphin Cove had 80,000 shares changing hands at $11.03 after falling $1.96, General Accident ended with 82,455 shares changing hands, in closing at $1.90, Jamaican Teas had 2,300 shares trading to close at $3.90, Lasco Distributors ended with 554,500 shares changing hands and closed with a gain of 15 cents at $3.55 for a new all-time closing high. Lasco Financial closed with a 10 cents increase at $2.55, after trading earlier at $2.60, with a total of 131,975 shares changed hands and Lasco Manufacturing ended of $3.90 with 872,436 shares changing hands, Medical Disposables closed at $2.55 with 121,858 shares trading and Eppley cumulative preference share 2019, ended with 25,000 units changing hands at $6.07.
C&W up to $1.50 in morning session
Cable and Wireless traded 4,167,646 units between $1.45 and $1.50 to record and last traded at $1.47. The stocks now has bid of $1.45 to buy 238,600 shares on the offer is 2,544,861 units at $1.50. 
The other main trade has been Lasco Financial Services with 834,793 shares changing hands between $2.55 and $2.63, the stock last traded at $2.63.
Trading resulted in 26 securities changing hands with a volume of 6,111,547 units as 7 stocks gained and 8 declined.
The Jamaica stock market after 90 minutes of trading, recorded another morning of increases in the indices. The All Jamaican Composite index jumped 1,487.61 points to 144,641.99 JSE Market Index rose 1,331.13 points to 130,360.94 the JSE combined index rose 1,329.21 points to be at 134,729.11 and the junior market index rose 8.11 points to 1,304.52.
The JSE up strongly on Friday morning
The Jamaica stock market for the second consecutive morning, is enjoying slow trading with only 15 securities being active at 10.45 ,but the indices have so far climbed quite a bit with all main market indices up by more than 1,000 points. Jamaica Broilers trades at new 52 weeks’ high of $8. Trading accounted for a volume of 1,206,561 units with 6 stocks gaining and 5 declined.
In trading, Carreras exchanged 109,500 shares at $51.99 to gain 19 cents, Jamaica Stock Exchange had 10,000 shares trading at $8.60 for a rise of 65 cents as the company stands to see increased income if trading continues to be bullish. 
JMMB Group exchanged 35,096 shares at $8.55 for a small gain, Scotia Investments had 420,000 units changing hands at $27.50, Caribbean Producers traded at $3 with 65,000 shares. Lasco Distributors 109500 shares traded at $2.79, Lasco Financial Services 105,000 shares traded at $2.25, Lasco Manufacturing 198,172 shares traded at $3.50.
The All Jamaican Composite index jumped 1,124.16 points to 132,131.96 JSE Market Index rose 1,005.91 points to 123,570.27, the JSE combined index rose 1,281.46 points to be at 123,840.64 and the junior market index rose 37.15 points to 1,269.32.
