The Junior Market Index advanced by 30.97 points to close at 3,003.68 on Tuesday with 17 securities changing hands, as the prices of 6 securities advanced, 1 declined and 10 remained unchanged.
Trading on the Junior Market of the Jamaica Stock Exchange closed with resulting in an exchange of 1,885,937 units valued at $9,218,166 compared to 2,877,033 units valued at $17,351,257 on Monday from 18 securities trading.
Trading ended with an average of 110,937 units for an average of $542,245 in contrast to 151,423 units for an average of $913,224 on Monday. The average volume and value for the month to date amounts to 122,969 units 
valued at $598,559 and previously an average of 133,594 units valued at $602,040. In contrast, October closed with an average of 74,690 units valued at $362,548, for each security traded
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 6 stocks ended with bids higher than their last selling prices and 4 with lower offers.
At the close of the market, Access Financial closed $2 higher at $42, with 866 shares trading, Caribbean Cream finished at $5.60, with 1,900 shares, Caribbean Producers traded at $4.08, with 1,000,000 units, Dolphin Cove finished trading at $18, with 2,000 shares, Derrimon Trading closed $1.50 higher at $8, with 200 shares, 
Express Catering ended at $4.60, with 21,448 stock units. General Accident finished at $2.72, with 1,000 shares, Honey Bun settled at $4.80, with 11,806 shares, ISP Finance ended trading at $16, with 333 stock units, Jamaican Teas traded 5 cents higher at $4.05, with 25,100 units. Jetcon Corporation finished trading 14 cents higher at $4.74, with 154,338 shares, Knutsford Express closed at $13.50, with 43,681 shares, Lasco Financial ended trading 19 cents higher at $6.50, with 172,903 stock units. Main Event closed 45 cents higher at $5.95, with 8,250 shares, Paramount Trading concluded trading with a loss of 10 cents at $3.70, with 11,500 units, Stationery and Office ended trading at $5.15, with 397,500 stock units changing hands and tTech finished trading at $7, with 33,112 shares.
Prices of securities trading for the day are those at which the last trade took place.
6 Junior Market stocks rise 1 fall
10 Junior Market stocks rise 6 fall
Trading on the Junior Market of the Jamaica Stock Exchange ended with the prices of 10 securities advancing, 6 declined and 2 remained unchanged on Monday with 19 securities changing hands, the same number as on Friday.
At the close of market activities, the Junior Market Index declined by 24.55 points to close at 2,972.71, resulting from an exchange of 2,877,033 units valued at $17,351,257 compared to 1,034,761 units valued at $4,990,857 on Friday.
Trading ended with an average of 151,423 units for an average of $913,224 in contrast to 54,461 units for an average of $262,677 on Friday. The average volume and value for the month to date amounts to 133,594 units valued at $602,040 and previously an average of 121,656 units valued $578,945. In contrast, October closed with an average of 74,690 units valued at $362,548, for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 8 stocks ended with bids higher than their last selling prices and 2 with lower offers.
At the close of the market, Access Financial closed with a loss of $1.20 at $40, with 80,000 shares, AMG Packaging lost 1 cent to end at $3.07, with 12,500 stock units, Cargo Handlers ended trading 2 cents higher at $11.01, with 56,829 units, Caribbean Cream added 5 cents to close at $5.60, with 600 units, Caribbean Producers traded with a loss of 2 cents at $4.08, with 273,549 units, Express Catering ended 10 cents higher at $4.60, with 60,376 stock units. General Accident finished 2 cents higher at $2.72, with 13,800 shares, Honey Bun settled at $4.80, with 8,194 shares, ISP Finance ended trading with a loss of 20 cents at $16, with just 414 stock units, 
Jamaican Teas traded with a loss of 10 cents at $4, with 100,000 units. Jetcon Corporation finished trading at $4.60, with 50,877 shares changing hands, Knutsford Express closed 50 cents higher at $13.50, with 7,400 shares. Lasco Distributors settled 30 cents higher at $5.50, with 2,075,784 shares, Lasco Financial ended trading with fell 29 cents to close at $6.31, with 70,396 stock units, Lasco Manufacturing traded 16 cents higher at $4.20, with 34,728 units, Paramount Trading concluded trading with 2,857 units to gain 30 cents to end at $3.80, Stationery and Office ended trading 3 cents higher at $5.15, with 16,256 stock units and tTech finished trading 50 cents higher at $7, with 12,173 shares. In the junior market preference segment, Derrimon Trading ended with 300 units changing hands at $2.
Prices of securities trading for the day are those at which the last trade took place.
Derrimon & Main Event in TOP 10
Main Event moved into the top list of Junior market stocks along with Derrimon Trading, this week, replacing Jamaican Teas and Caribbean Cream that entered the list last week and Pulse Investments and Sagicor Group are in the Main market listing.
Main Event fell back to $5.50 at the end of the past week, from $5.75, the week before, to reenter the list, while Jamaican Teas came in for some buying that lifted the price slightly, to $4.10, to see it leaving. Radio Jamaica is removed from the list as six months’ results suggest that earnings will be hard pressed to exceed the 6 cents reported for the 2017 fiscal year. Also out is Cable & Wireless, with nine months’ results suggesting lower profit than originally projected for the full year to December.
Derrimon Trading reported net profit for this three months to September from core business, jumping 56 percent to $27 million over the $17.5 million reported for the corresponding period in 2016. The consolidated net profit for the nine months was $132 million, up 22 percent over the corresponding period in 2016.
Earnings per share amounted to 48 cents for the nine months and seems on track to end the year at 60 cents.
On Friday Lasco Financial, a former TOP 10 stock, hit a new record high of $6.60 following the reported profit that more than doubled in the September quarter to $100 million and up 63 percent to $167 million for the six months as well as from news of the acquisition of CrediScotia operations.
At the close of Friday, the average PE ratio for Junior Market Top stocks is at 9 and a PE at 8.5 for the main market TOP 10. The average PE for the overall main market is 15 and 14 for Junior Market, based on 2017 estimated earnings.
At the close of the week, IC Insider.com’s TOP 10 stocks now trade at an average discount of 35 percent to the average of the market for Junior Market Top stocks and 43 percent for the main market.
Market Watch| Investors should keep a keen eye for Caribbean Cement, Cable & Wireless that appears scarce under $1, NCB Financial, Berger Paints, JMMB Group, Lasco Financial, Paramount Trading, Derrimon Trading and Stationery and Office.
4 stocks rise on Junior Market 9 fall
Trading on the Junior Market of the Jamaica Stock Exchange ended trading on Friday with 19 securities changing hands, resulting in an exchange of 1,034,761 units valued at $4,990,857 compared to 15,114,679 units valued at $63,009,289 on Thursday.
At the close of market activities, the prices of 4 securities advanced, 9 declined and 5 remained unchanged. The Junior Market Index declined by a mere 3.40 points to close at 2,997.26.
Trading ended with an average of 54,461 units for an average of $262,677 in contrast to 795,509 units for an average of $3,316,278 on Thursday. The average volume and value for the month to date amounts to 121,656 units valued $578,945 and previously an average of 127,044 units valued at $604,299. In contrast, October closed with an average of 74,690 units valued at $362,548, 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 3 with lower offers.
Lasco Financial climbed to a new all-time high of $6.60 in continued investors’ response to the company’s announced acquisition of the CrediScotia’s business but Lasco Distributors ended at a 52 weeks’ closing low of $5.20.
At the close of the market, Access Financial lost $1.81 in closing at $41.20, with 1,902 shares trading, Caribbean Producers traded with a loss of 40 cents at $4.10, with 3,000 units, Consolidated Bakeries closed with a loss of 14 cents at $2.06, with 5,866 shares changing hands, Dolphin Cove finished trading with a loss of $2.18 to close at $18, with just 500 shares, Express Catering fell just 4 cents to $4.50, with 79,327 stock units trading, Eppley concluded market activity with a loss of $2.49 to $10.01, with 3,000 units. 
General Accident ended at $2.70, with 800 shares traded, Jamaican Teas finished trading 10 cents higher at $4.10, with 181,181 units, Jetcon Corporation closed at $4.60, with 148,607 shares, Knutsford Express finished trading $1.49 higher at $13, with 797 shares. Lasco Distributors settled with a loss of 60 cents to closed at 52 weeks’ low of $5.20, with 214,754 shares, Lasco Financial rose 30 cents to a 52 weeks’ closing high of $6.60, with 99,459 stock units, Lasco Manufacturing closed with a loss of 11 cents at $4.04, with 96,632 units, Medical Disposables closed 1 cent higher at $5.30, with 3,000 shares. Main Event concluded trading with a loss of 45 cents at $5.50, with 3,366 shares, Paramount Trading closed at $3.50, in trading 100,000 units, Stationery and Office finished at $5.12, with 89,853 stock units and tTech concluded trading at $6.50, with 1,443 shares. In the junior market preference segment, Derrimon Trading preference share ended with 1,274 units changing hands at $2.
Prices of securities trading for the day are those at which the last trade took place.
Caribbean Producers in big trade
Caribbean Producers commanded 81% of the total trade on Thursday.
Caribbean Producers traded 12,260,068 units or 81 percent of the total volume passing through the Junior Market on Thursday, with the price climbing 50 cents to end at $4.50 two days after the company posting strong profit in the first quarter.
Trading on the Junior Market of the Jamaica Stock Exchange concluded trading on Thursday with 19 securities changing hands, resulting in an exchange of 15,114,679 units valued at $63,009,289 compared to 2,180,177 units valued at $9,696,165 on Wednesday.
At the close of market activities, the prices of 9 securities advanced, 6 declined and 3 remained unchanged. The Junior Market Index advanced by 11.40 points to close at 3,000.66.
Lasco Financial climbed to a new all-time high of $6.30 two days after the company announced acquisition of the CrediScotia’s business but Lasco Distributors traded at an intraday 52 weeks’ low of $5 before closing higher at the end of trading.
Trading ended with an average of 795,509 units for an average of $3,316,278 in contrast to 109,009 units for an average of $484,808 on Wednesday. The average volume and value for the month to date amounts to 127,044 units valued at $604,299 and previously and average of 68,783 units valued at $367,935. In contrast, October closed with an average of 74,690 units valued at $362,548, 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 market, AMG Packaging finished trading 4 cents higher at $3.08, with 8,480 stock units changing hands, Cargo Handlers settled at $10.99, with 1,307 stock units, Caribbean Cream ended trading with a loss of 7 cents at $5.55, with 2,400 shares, Caribbean Producers traded 50 cents higher at $4.50, with 12,260,068 units, Dolphin Cove jumped $2.63 higher to close at $20.18, with 3,650 shares, Derrimon Trading ended 50 cents higher at $6.50, with 117,188 shares. Express Catering finished 9 cents higher at $4.54, with 35,572 stock units, Jamaican Teas ended at $4, with 1,750 units,
Jetcon Corporation traded with a loss of 20 cents at $4.60, with 387,485 shares, Knutsford Express finished with a loss of 69 cents at $11.51, while trading 21,899 shares. Lasco Distributors ended trading 20 cents higher at $5.80, with 297,860 shares, Lasco Financial concluded trading 30 cents higher at an all-time high of $6.30, with 468,946 stock units, Lasco Manufacturing closed 10 cents higher at $4.15, with 101,226 units. Main Event gained 45 cents in closing at $5.95, with 71,396 shares, Paramount Trading finished at $3.50, with 1,244,375 units, Iron Rock traded with a loss of 45 cents at $2.80, with 1,355 shares, Stationery and Office ended with a loss of 3 cents at $5.12, with 73,665 stock units and tTech finished with a loss of 50 cents at $6.50, with 1,057 shares.
Prices of securities trading for the day are those at which the last trade took place.
Lasco Financial lifts Junior Market
Lasco Financial
Following the news that Lasco Financial acquired CrediScotia, the stock jumped $1.10 on Wednesday to a record close, helping to push the Junior Market Index up by 40.48 points on Wednesday, bettering the 28.05 points decline on Tuesday, to close at 2,989.26 when trading ended.
At the close of market activities, 20 securities changed hands, down from 22 trading Tuesday leading to the prices of 8 rising, 5 declining and 7 remaining unchanged, in an exchange of 2,180,177 units valued at $9,696,165 compared to 1,809,393 units valued at $9,170,104 on Tuesday. While Lasco Financial closed at a record high for the day its sister Lasco Distributors closed at a 52 weeks’ low at the closed of trading.
Trading ended with an average of 109,009 units for an average of $484,808 in contrast to 82,245 units for an average of $416,823 on Tuesday. The average volume and value for the month to date amounts to 68,783 units valued at $367,935 and previously 64,720 units, valued at $356,129 previously.
In contrast, October closed with a slightly higher average of 74,690 units valued at $362,548, 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 5 with lower offers.
At the close of the market, AMG Packaging traded 4 cents higher at $3.04, with 30,700 stock units, Cargo Handlers ended at $10.99, with 4,643 stock units, Caribbean Producers ended 15 cents higher at $4, with 244,630 units, Consolidated Bakeries ended with a loss of 16 cents at $2.20, with 12,847 stock units, Dolphin Cove settled at $17.55, with 2,500 shares, Derrimon Trading traded with a loss of $1 in closing at $6, with 3,394 shares. Express Catering settled with a loss of 10 cents at $4.45, with 13,900 stock units, General Accident closed at $2.70, with 4,000 shares, Honey Bun ended trading at $4.80, with 3,862 shares, 
Jamaican Teas finished trading at $4, with 71,805 units. Jetcon Corporation ended trading 30 cents higher at $4.80, with 100,710 shares, Knutsford Express ended at $12.20, with 2,810 shares, KLE Group finished trading 1 cent higher at $2.51, with 502,226 units, Caribbean Cream ended at $5.62, with 13,930 shares. Lasco Distributors traded 60 cents higher at $5.60, with 362,543 shares, Lasco Financial traded $1.10 higher at $6, with 589,625 stock units, after investors attempted to trade it at $6.50 which was outside the range it could trade at for the day. Medical Disposables concluded trading 9 cents higher at $5.29, with 24,000 shares, Main Event lost 30 cents to close at $5.50, with 6,891 shares, Paramount Trading ended with a loss of 49 cents at $3.50, trading 106,600 units and Stationery and Office settled 15 cents higher at $5.15, with 78,561 stock units changing hands.
Prices of securities trading for the day are those at which the last trade took place.
Junior Market drops
The Junior Market Index declined by 28.05 points, to close at 2,948.78 on Tuesday with 22 securities changing hands, the same numbers as on Monday.
At the close, the prices of 5 securities gained, 7 declines and 10 remained unchanged. Market activity resulted in an exchange of 1,809,393 units valued at $9,170,104, compared to 1,906,761 units valued at $16,655,143 on Monday.
Trading ended with an average of 82,245 units for an average of $416,823 in contrast to 86,671 units for an average of $757,052 on Monday. The average volume and value for the month to date amounts to $64,720 units valued at 356,129 and an average of 62,529 units valued at $348,543 previously. In contrast, October closed with a slightly higher average of 74,690 units valued at $362,548, for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 5 stocks ended with bids higher than their last selling prices and 2 with lower offers.
At the close of the market, Access Financial ended trading 51 cents higher at $43.01, with 5,000 shares, AMG Packaging ended trading with a loss of 15 cents at $3, with 7,538 stock units, CAC 2000 finished trading with a loss of 40 cents at $6.50, with 21,110 shares, Caribbean Producers ended trading 20 cents higher at $3.85, with 202,809 units, Derrimon Trading traded at $7, with 14,000 shares. Express Catering settled with a loss of 3 cents at $4.55, with 5,046 stock units, Eppley concluded trading $1 higher at $12.50, with 61,000 units, Honey Bun finished trading at $4.80, with 2,382 shares, Jamaican Teas ended trading at $4, with 27,675 units. Jetcon Corporation traded with a loss of 30 cents at $4.50, with 47,131 shares, 
Knutsford Express closed at $12.20, with 26,259 shares, Key Insurance settled at $3.99, with 9,429 stock units, KLE Group finished trading at $2.50, with 880 units. Caribbean Cream ended trading 2 cents higher at $5.62, with 1,070 shares, Lasco Distributors concluded trading with a loss of 95 cents at $5, with 153,244 shares, Lasco Financial ended trading at $4.90, with 763,065 stock units, Lasco Manufacturing finished trading with a loss of 7 cents at $4.05, with 23,602 units. Medical Disposables traded at $5.20, with 69,250 shares, Main Event ended at $5.80, with 4,441 shares, Paramount Trading jumped 69 cents to $3.99, with 341,058 units trading, Stationery and Office finished at $5, with 21,764 stock units and tTech traded with a loss of 7 cents at $7, with 1,640 shares.
Prices of securities trading for the day are those at which the last trade took place.
CrediScotia buyout to boost LasFin’s profit
Lasco Financial
Lasco Financial Services doubles its $500 million loan portfolio with the acquisition Scotia Jamaica’s Micro Finance Company Limited which trades as CrediScotia. According to a release from Lasco “the deal was executed on Monday November 13 upon the signing of the share purchase agreement.”
CrediScotia is a wholly owned subsidiary of Scotia Group Jamaica which entered the Microfinance sector in November 2011 and currently serves its customers from its seven branches islandwide.
Jacinth Hall Tracey, Managing Director of LFSL explains that the move is part of a larger strategic plan for Lasco Financial to continue its focus on expanding its loan portfolio.
“It is a great opportunity for Lasco Financial Services. We have been developing opportunities incrementally to serve our customers who are in need of micro financing, this move immediately gives us the reach and scale as we will immediately double our loan portfolio and number of clients as well as branches across the island. This merger allows us to maximize on the synergies of both companies and will create one formidable company.
CreditScotia will become a wholly owned subsidiary of LASCO Financial Services and will continue to operate independently of the LFSL Group.
Lasco Financial profit jumped sharply for 2017 Q2.
As such, the acquisition will not see any disruption to the business, employees or clients, the release from Lasco stated. That will only be for a while to allow things to settle, eventually, the attractiveness of economies of scale and the savings to be reaped will be too enticing to be ignored.
The consideration was not announced but could be in the region of $500 to $1 billion.
Lasco Financial recently reported profit of that more than doubled in the September quarter, from $44 million to $100 million with the six months results showing profit of $167 million versus $102 million in 2016. The company saw revenues rising to $396 million form $272 million in the second quarter and $715 million for the half year, from $533 million in 2016. While revenues grew rapidly in the period cost were contained well below increases in revenues. For the full year to March 2017, Lasco made net profits of $192 million.
IC Insider.com forecast was for earnings of 30 cents for this year and 60 cents for the next fiscal year, but this latest move would push earnings higher with 2018/19 enjoying a full year of benefits. At the end of September Lasco had loans and receivables of $1 billion on its books and cash funds amounting to $480 million.
Lasco’s stock closed trading at $4.90 on the Junior Market of the Jamaica Stock Exchange on Tuesday.
Junior Market starts week positively
Trading on the Junior Market of the Jamaica Stock Exchange, ended on Monday with 22 securities changing hands, resulting in an exchange of 1,906,761 units valued at $16,655,143 compared to only 812,631 units valued at $3,846,042 on Friday.
At the close of market activities, the prices of 9 securities advanced, 5 declined and 8 remained unchanged resulting in the Junior Market Index rising by 11.40 points to close at 2,976.83.
Trading ended with an average of 86,671 units for an average of $757,052 in contrast to 40,632 units for an average of $192,302 on Friday. The average volume and value for the month to date amounts to 62,529 units valued at $348,543 and previously, 59,080 units valued at $290,184. In contrast, October closed with a slightly higher average of 74,690 units valued at $362,548, 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 4 with lower offers.
At the close of the market, AMG Packaging ended with a loss of 5 cents at $3.15, with 38,707 stock units traded, Caribbean Flavours traded 30 cents higher at $12.30, with 1,000,000 shares, Cargo Handlers finished trading at $10.99, with 550 stock units, Caribbean Cream traded 10 cents higher at $5.60, with 6,972 shares. Caribbean Producers concluded trading 42,000 units with a loss of 15 cents to end at $3.65, Dolphin Cove ended 12 cents higher at $17.55, with 1,031 shares changing hands, Express Catering traded 8 cents higher at $4.58, with 118,277 stock units, General Accident concluded trading with a loss of 3 cents at $2.70, with 450 shares, Honey Bun closed at $4.80, with 20,000 shares trading, Jamaican Teas settled at $4, with 9,302 units.
Jetcon Corporation ended trading 10 cents higher at $4.80, with 79,878 shares, Knutsford Express settled at $12.20, with 7,902 shares, Key Insurance concluded trading at $3.99, with just 100 stock units trading, Lasco Distributors rose 5 cents to end at $5.95, with 70,083 shares, after trading at a 52 weeks’ low of $5.85, Lasco Financial finished trading 30 cents higher at $4.90, with 370,948 stock units, after trading as low as $4.60 during the morning session. Lasco Manufacturing concluded trading 7 cents higher at $4.12, with 20,001 units, Medical Disposables finished with a loss of 10 cents at $5.20, with 36,000 shares. Main Event ended trading 5 cents higher at $5.80, with 64,005 shares, Paramount Trading finished trading at $3.30, with 3,650 units, Consolidated Bakeries ended at $2.36, with 5,000 shares, Stationery and Office traded at $5, with 10,000 stock units and tTech traded with a loss of 33 cents at $7.07, with 1,905 shares trading.
Prices of securities trading for the day are those at which the last trade took place.
Kremi & Jamaican Teas in TOP 10
Main Event rose in price and Medical Disposables (Meds) dropped out of the TOP 10 and were replaced by Caribbean Cream and Jamaican Teas.
Main Event rose from $5.50 to $5.75 on Friday, enough to lift them out of the Top list. Earnings at Meds were lowered with the release of the 6 months results with a 21 percent increased sales, in the September quarter but a reduction in profit margin and net profit.
JMMB Group rose from $29.50 to a record close of $30.50 and is sitting at the lower end of the main market list. Grace Kennedy reported good September quarter results, excluding one off gains while Berger Paints‘ six months results show revenues for the September quarter rising 21 percent and profit is up approximately 70 percent when the cost associated with the offer from Ansa Coatings offer is taken out. Berger traded to close on Friday at $15 and is one to watch in the week.
This coming week should see a raft of company results that could shake up the top 10 in both markets. On Friday Lasco Financial, a former TOP 10 stock, reported profit that more than doubled in September quarter to $100 million and up 63 percent to $167 million for the six months. These results could encouraged increased buying in the stock.
At the close of Friday, the average PE ratio for Junior Market Top stocks is at 9.1 and a PE at 7.3 for the main market TOP 10.
The average PE for the overall main market trades at 14 and 13.7 for Junior Market, based on 2017 estimated earnings.
At the close of the week, IC Insider.com’s TOP 10 stocks now trade at an average discount of 39 percent to the average of the market for Junior Market Top stocks and 48 percent for the main market.
Market Watch| Investors should keep a keen eye for Caribbean Cement, Cable & Wireless that is expected to post improved profit in the latest quarter from increasing revenues, NCB Financial, Berger Paints, Jamaica Broilers, JMMB Group, Access Financial, General Accident that is expected to benefit from a rise in premium rates, Lasco Financial, Paramount Trading and Stationery and Office.
