4 new highs push juniors to record close

January 10, 2017 by

Derrimon Trading closed at a 52 weeks’ high of $6.30 on Tuesday.

The junior market closed higher than on Monday, but gave up most of its early morning gains that pushed the index up by 33.74 points to 2,739.37. The market index closed with an increase of 9.63 points, to end at a record close of 2,715.26 on Tuesday as 5 securities ended closing all-time highs.
At the close of trading on Tuesday the prices of 10 stocks rose, 6 declined with 20 securities trading, compared to 21 trading on Monday. Volume of stocks traded rose 50 percent, from Monday’s low level, ending with a volume of just 1,095,189 units, changing hands, valued at $6,212,985, up by 41 percent from $4,409,716 on Monday.
An average of 54,759 units with an average value of $310,649 traded, compared to 34,673 units with an average value of $209,986 on the preceding trading day. The average for the month to date is 61,744 units with an average value of $314,508 versus 63,141 units with an average value of $315,280 on Monday. The average for December is 131,147 units, at an average of $672,488.
The market closed with 7 stocks with bids higher than their last sale and 3 with offers lower than their last sales.
At the close of trading, Access Financial Services traded 909 units to close at $25, Cargo Handlers climbed to a new high of $20 after gaining 30 cents with 27,765 shares trading, Caribbean Cream fell 10 cents with 27,068 units being exchanged to end at $7.90, Caribbean Flavours added 20 cents while trading 4,166 shares to close at $12. Caribbean Producers fell 30 cents in trading 2,000 units at $3.45, Consolidated Bakeries ended trading with 193,390 units changing hands with the price rising 45 cents to end at a 52 weeks’ high of $2.60, C2W Music had 31,000 units changing hands to close with a gain of 1 cent at 35 cents. Derrimon Trading ended at 52 weeks’ high of $6.30 with 7,500 shares changing hands, after rising by 30 cents, Dolphin Cove closed at $14.99 with 1,249 shares changing hands, after slipping by 1 cent, Honey Bun had 95,162 shares changing hands to close at $5.95 after losing 10 cents. Iron Rock Insurance traded 100 units and gained 5 cents to end at $4.10, Jamaican Teas ended at $4.85 with 17,854 shares trading, Jetcon Corporation rose 50 cents, to close at a new all-time high of $7, with 15,647 shares being exchanged by investors. KLE Group ended with 50,200 units changing hands at $2.20, Lasco Distributors lost 21 cents and ended with 431,350 units trading to close at $7, Lasco Financial lost 27 cents and closed with 46,000 shares changing hands at $3.67. Lasco Manufacturing rose 6 cents to end at $5.10, with 138,933 units trading, Paramount Trading ended with 722 shares changing hands at $3 and tTech ended with 4,000 units changing hands at $5.50 after rising 20 cents.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , ,

Junior market breaks 2,700 points

January 9, 2017 by

The junior market surged 81.31 points, pushing the market index over the 2,700 mark for the first time, to end at a record 2,705.63 points at the close on Monday, with 5 securities trading at the close, at new all-time highs.
At the close of trading on Monday the prices of 13 stocks rose, 3 declined with 21 securities trading, compared to 13 trading on Friday. Volume of stocks traded rose 48 percent, from Friday’s low level, ending with a still low volume of just 728,143 units, including one stock in the preference sector changing hands, valued at $4,409,716, up by 65 percent from $2,672,851 on Friday.
An average of 34,673 units with an average value of $209,986 traded, compared to 37,841 units with an average value of $205,604 on the preceding trading day. The average for the month to date is 63,141 units with an average value of $315,280 versus 70,258 units with an average value of $341,603 on Friday. The average for December is 131,147 units, at an average of $672,488.
Securities that had bids above their last selling prices numbered just 4 on Monday and one ended with a lower offer. Since the start of last week there were a number of securities closing with large gaps between bids and last sale prices, with the exception of Eppley that has a bid of $8.01, compared to a last sale of $4.90, they have all traded higher to wipe out the major differences.
At the close of trading, Access Financial Services gained $3 in trading 1,889 units to close at an all-time high of $25, AMG Packaging jumped $1.50 to close at a 52 weeks’ high of $28.50 with 399 units changing hands, Blue Power jumped $3.50 and closed at a 52 weeks’ high of $34.50 with 3,500 units traded. CAC 2000 traded 7,000 units at $5.25 after gaining 30 cents, Cargo Handlers climbed to a new high of $19.70 after gaining $1.10 with 2,235 shares trading, Caribbean Cream dropped 55 cents with 143,035 units being exchanged to end at $8, Caribbean Flavours added 60 cents while trading 1,000 shares to close at $11.80. C2W Music had 3,334 units changing hands to close with a loss of 1 cent at 34 cents, Consolidated Bakeries ended trading with 5,925 units changing hands at $2.15. Dolphin Cove closed at $15 with 555 shares changing hands, General Accident closed trading with 75,504 units at $3, Honey Bun had 17,127 shares changing hands to close at $5.95 after losing 10 cents, Iron Rock Insurance traded 1,110 units and gained 5 cents to end at $4.05. Jamaican Teas ended at $4.85 with 8,640 shares being exchanged with a rise of 60 cents, Jetcon Corporation rose 43 cents, to close at a new all-time high of $6.50, with 26,649 shares being exchanged by investors, Lasco Distributors ended with 58,900 units trading with a gain of 20 cents to close at $7.21, Lasco Financial rose 29 cents and closed with 10,912 shares changing hands at $3.94. Lasco Manufacturing rose 24 cents to end at $5.04, with 40,149 units trading, Medical Disposables traded 10,000, shares with a rise of 25 cents to close at $4.45, Paramount Trading ended with 26,700 shares changing hands at $3 and Eppley 8.25% preference share, ended with 283,500 units changing hands at $6.

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Jetcon & CWJ set for 2017 top spots

January 7, 2017 by

C&W set to be 2017 top stock from the main market.

By the end of 2017, the two top stocks on the Jamaica Stock Exchange is forecasted by IC Insider to be the 2016 listed Jetcon Corporation and previously battered Cable and Wireless that should be reporting good profits for the year.
In the just concluded week, Caribbean Cream (Kremi) and Lasco Financial that entered the IC Insider’s TOP 5 at the end of December, only spent one week in the list. Both stocks climbed during the past week with Lasco Financial moving up 18 percent to $3.67 and Caribbean Cream gained 14 percent to $8.55. Key Insurance rose 14 percent during the week and General Accident was up 7 percent.
Entering the TOP 5 for the first time, is Dolphin Cove, and returning is Jetcon Corporation at 4th and 5th spot, respectively. Investors have lost confidence in Dolphin Cove even as the company continues to produce decent results and having good prospects, with the major expansion in the tourism industry. Profit to September last year, was up 11 percent to $1.17 per share, exceeding the results for the entire 2015.
Jetcon reported in their September quarterly

Dolphin Cove moved into the IC Insider’s TOP 5 junior market stocks.

report that they “had another quarter of strong results with revenues climbing 86 percent over the September 2015 quarter, to $267 million and climbed 61 percent to $610 million for the nine months. Profit grew 275 percent to $35 million from $9 million in the September quarter, compared with the similar period in 2015 and is up 141 percent for the nine months period over the same period in 2015.” Profit for the nine months ended at $67 million and had exceeded the $40 million after tax, earned for the full year of 2015. In mid-September the company also reported that “subsequent to the Quarter, revenues continue be ahead of the same period for 2015 by approximately 70 percent,” suggesting that the final quarter should continue to reflect the robust performance seen in the earlier months. Jetcon is poised to be IC Insider’s top junior market stock for 2017, followed by ISP Finance, based on IC Insider’s forecast.
There were not much movement in the main market stocks during the week. Radio Jamaica moved out of the TOP 5, having gained in price during the week and is replaced by National Commercial Bank, at the number 5 position. The banking group is still selling cheaper than Scotia Group with earnings for the 2017 year to be released by the end of January. IC Insider is forecasting $8 per share earnings for 2017 with increased dividend payments around $3 per share, suggesting the stock has much room for growth. The number 1 main market stock is projected to be Cable & Wireless followed by Barita Investments. Last year this publication stated that Barita was the best main market stock back in September, it is now up by 93 percent since but has much more gains ahead with projected earnings of $1.75 for 2017.

Note: One of our writers is a director of two junior companies, Jetcon Corporation and Jamaican Teas. Connected parties to IC Insider.com may hold shares in companies commented on from time to time.

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Junior market climbs to highest ever

January 6, 2017 by

Blue Power rose $1 to close at a new all-time high of $31.

The junior market, pushed to close above the 2,600 points on Thursday for the first time, moved even higher at the close on Friday as advancing stocks out did declining ones, three to one. The market index rose just 5.51 points to end at a record 2,624.32, on lower volume than on Thursday.
At the close, a large number of securities, 13, ended with bids higher than their last selling prices and none ending with lower offers. Some of the securities with bids higher than their last selling prices have no offer and may not trade. At the close, the securities closing with large gaps between bids and last sale prices, include Access Financial with the $24.01 versus the last sale of $22, with no stocks on offer. Cargo Handlers had a bid at $19.11 with the last trade at $18.60 and an offer at $19.70 and Eppley that ended with a bid of $8.01, compared to a last sale of $4.90.
The prices of 9 stocks rose, 3 declined with 13 securities trading, compared to 16 trading on Thursday. Volume of stocks traded fell 37 percent, from Thursday’s low level, ending with just 491.934 units changing hands, valued at $2,672,851, down by 32 percent from $3,954,032 on Thursday.
An average of 37,841 units with an average value of $205,604 traded, compared to 49,187 units with an average value of $247,127 on the preceding trading day. The average for the month to date is, 70,258 units with an average value of $$341,603 versus 81,063 units with an average value of $386,936 on Thursday. The average for December is 131,147 units, at an average of $672,488.
At the close of trading, Blue Power jumped $1 and closed at a 52 weeks’ high of $31 with 10,979 units traded, Caribbean Cream jumped $1.15 with 21,100 units being exchanged to end at $8.55. Caribbean Flavours lost 80 cents while trading 2,900 shares to close at $11.20, Caribbean Producers gained 50 cents in trading 2,000 units at $3.75. Derrimon Trading gained 5 cents to close at a 52 weeks’ high of $5.80 with 10,000 shares changing hands, General Accident rose 1 cent and closed trading with 3,200 units at $3, Jamaican Teas ended at $4.25 with 54,784 shares being exchanged. Jetcon Corporation gained 6 cents, to close at a new all-time high of $6.07, with 141,959 shares being exchanged by investors, KLE Group climbed 30 cents and closed with 76,000 shares trading at $2.20, Knutsford Express traded just 200 shares and gained 50 cents in closing at $23. Lasco Distributors ended with 21,000 units trading with a loss of 9 cents to close at $7.01, Lasco Financial rose 15 cents and closed with 50,362 shares changing hands, at $3.65 and Lasco Manufacturing fell 20 cents to end at $4.80, with 97,450 units trading.

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Jamaican stocks pull back on Friday

January 6, 2017 by

The Jamaica Stock Exchange pulled back from Thursday’s close in a moderate trading on Friday morning, resulting in sharp fall from Thursday’s intraday high for the main market and the junior market’s record close.
Market activity resulted in 26 securities traded at 10:45 am, compared to 29 on Thursday at 10:45 am. A total of 14 securities advanced and 6 declined, resulting in a volume of 984,204 shares changing hands, carrying a value of $4,620,010, compared of 1,153,658 shares changing hands, carrying a value of $6,116,182 on Thursday. The average number of shares traded, amount to 37,854 units versus 39,781 units on Thursday.
Noted trades were junior market listed Jetcon Corporation with 128,319 units at $6.06, Lasco Financial gaining 15 cents to $3.65 with 3,962 units trading and Blue Power trading at a new high of $31 with 10,979 shares and Proven Investments traded 577,533 units at 22.99 US cents.
The all Jamaica Composite Index lost 493.48 points to 209,908.28, the Jamaica Stock Exchange Market Index fell 441.26 points 192,069.90 the Jamaica Stock Exchange combined index declined 501.40 points to 204,934.14 and the junior market index eased 8.97 points to 2,609.84.

Filed Under: JSE Combined, Stock Market Tagged With: , , , , , , , ,

Junior market first close above 2,600

January 5, 2017 by

The junior market pushed pass the 2,600 points mark at the close for the first time. The market index rose 33.35 points to end at 2,618.81 on much less volume than on Wednesday. Indication at the close, suggests that Friday could be explosive for the stocks in this market, with a large number of securities numbering 14,closing with bids higher than their last selling prices and none ending with lower offers.
Some of the securities with bids higher than their last selling prices have no offer and may not trade. At the close, the securities closing with large gaps between bids and last sale prices, include Access Financial with the $24.01 versus the last sale of $22, with no stocks on offer. Cargo Handlers had a bid at $19.10 with the last trade at $18.60 and an offer at $25.10. Eppley’s bid closed $8.01, compared to a last sale of $4.90 and Knutsford Express traded last at $22.50 and ended with the bid at $23 and an offer at $32.50.
The prices of 7 stocks rose, 5 declined with 16 securities trading, compared to 12 trading on Wednesday. Volume of stocks traded fell 71 percent, from Wednesday’s low level, ending with 786,999 units changing hands, valued at $3,954,032, down by 69 percent from $12,580,140 on Wednesday.
An average of 49,187 units with an average value of $247,127 traded, compared to 169,435 units with an average value of $786,259 on the preceding trading day. The average for the month to date is 81,063 units with an average value of $386,936 versus 97,001 units with an average value of $456,841 on Wednesday. The average for December is 131,147 units, at an average of $672,488.
At the close of trading, AMG Packaging jumped $2.49 and closed at $27 with 2,115 units traded, Cargo Handlers closed at $18.60 with 4,900 units changing hands, Caribbean Cream lost 60 cents with 4,500 units being exchanged to end at $7.50. Caribbean Flavours recovered the 75 cents it lost on Wednesday while trading 1,621 shares to close at $12, Caribbean Producers fell 5 cents in trading 29,490 units at $3.25, Consolidated Bakeries lost 20 cents in trading 79,180 shares to close at $2.15. Derrimon Trading gained 25 cents to close at a 52 weeks’ high of $5.75 with 154,000 shares changing hands, General Accident lost 1 cent and closed trading with 19,318 units at $2.99. Honey Bun had 31,416 shares changing hands to close at $6.05 after rising 55 cents. Jamaican Teas ended at $4.25 with 6,778 shares being exchanged. Jetcon Corporation fell 4 cents, to close at $6.01, with 112,099 shares, Key Insurance climbed 20 cents and closed with 54,033 shares trading at $3, after trading at an intraday all-time high of $3.20, Lasco Distributors ended with 84,557 units trading with a rise of 60 cents to $7.10. Lasco Financial closed with 47,322 shares changing hands, to end at $3.50 and Lasco Manufacturing gained 15 cents and ended at $5, with 1467,670 units trading.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , ,

820% jump in junior market trades – Wednesday

January 4, 2017 by

Jetcon closed at a new high on Wednesday.

The junior market rose modestly at the close of the second trading day of the new year, on increased volume over Tuesday’s, with two stocks accounting for 81 percent of the volume. At the end of trading, the market index gained 4.04 points to end at 2,585.46.
The prices of 7 stocks rose, 5 declined with 16 securities trading, compared to 12 trading on Tuesday. Volume of stocks traded jumped 820 percent on Wednesday, from Tuesday’s low level, ending with 2,710,965 units changing hands, valued at $12,580,140, up 723 percent from $1,529,067 on Tuesday.
Market activities ended with 5 securities closing with bids higher than their last selling prices and 2 ending with lower offers. At the close, Access Financial ended with a bid of $25 versus the last sale of $22, AMG Packaging bid is at $27.05 with and last traded at $24.51, Eppley bid is $8.50 compared to a last sale of $4.90, these stocks have no stock being offered for sale for some time.
An average of 169,435 units with an average value of $786,259 traded, compared to 24,567 units with an average value of $127,422 on the preceding trading day. The average for the month to date is 97,001 units with an average value of $456,841. The average for December is 131,147 units, at an average of $672,488.
At the close of trading, Cargo Handlers closed at $18.60 with 3,121 units changing hands, Caribbean Cream gained 70 cents with 6,000 units being exchanged to end at $7.30. Caribbean Flavours fell 75 cent while trading 13,000 shares to close at $11.25, Consolidated Bakeries rose 9 cents in trading 15,000 shares to close at $2.35, Derrimon Trading ended at $5.50 with 176,694 shares changing hands, after rising by 40 cents, General Accident gained 20 cents and closed trading with 1,000 units at $3, Honey Bun had 17,005 shares changing hands to close at $5.50 after falling 18 cents. Iron Rock Insurance traded 31,614 shares to end at $4, Jamaican Teas ended at $4.25 with 102,572 shares being exchanged. Jetcon Corporation gained 5 cents, to close at a 52 weeks’ high of $6.05, with 22,222 shares, KLE Group lost 5 cents and closed with 3,100 shares trading at $1.90, Knutsford Express traded 8,321 shares and gained $2.50 in closing at $22.50, Lasco Distributors ended with 36,725 units trading with a fall of 51 cents to $6.50. Lasco Financial rose 31 cents with 1,386,210 shares changing hands, to end at $3.50, Lasco Manufacturing fell 5 cents and ended at $4.85, after 67,645 units switched hands and Eppley 8.25% preference share traded 820,736 units at $6.

Filed Under: JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , ,

AJI hits new high on Wednesday

January 4, 2017 by

The Jamaica Stock Exchange all Jamaica Composite Index climbed higher in early trading on Wednesday to beat yesterday’s record close as advancing stocks exceeded declining ones with Barita Investments, trading at a new high of $6.50 and Lasco Financial trading 1,379,710 shares at $3.55.
Market activity resulted in 31 securities traded at 10:45am, compared to 25 on Tuesday at 10:45 am. A total of 14 securities advanced and 9 declined, resulting in a volume of 2,248,154 shares changing hands, carrying a value of $19,672,487, compared 2,173,726 shares changing hands, carrying a value of $28,865,298 on Tuesday. The average number of shares traded, amount to 72,521 units versus 86,949 units on Tuesday.
The all Jamaica Composite Index rose 59.68 points to a record 212,271.58, the Jamaica Stock Exchange Market Index climbed 53.36 points to an all-time high of 194,183.11, the Jamaica Stock Exchange combined index jumped 122.79 points to a record high of 206,674.94 and the junior market index creep 7.14 to 2,588.56.

Filed Under: JSE Combined, Stock Market Tagged With: , , , , , ,

Juniors slip first trading day for 2017

January 3, 2017 by

The junior market index slipped at the close on the first trading day of the new year on very moderate volume. At the end of trading the market index declined by 12.29 points to end at 2,581.42.
At the close, the prices of 2 stocks rose, 5 declined with 12 securities trading, compared to 16 trading on Friday. Volume of stocks traded dropped on Friday by 82 percent, from Friday’s level, ending with 294,809 units changing hands, valued at $1,529,067, down by 82 percent from $8,675,126 on Friday.
Market activities ended with 5 securities closing with bids higher than their last selling prices and one ending with a lower offer.
An average of 24,567 units with an average value of $127,422 traded, compared to 102,038 units with an average value of $542,195 on the preceding trading day. The average for December is 131,147 units, at an average of $672,488.
At the close of trading, Cargo Handlers closed at $18.50 with 1,379 units changing hands, Caribbean Cream had 19,700 units exchanged for 20 cents less than on Friday to end at $7.30. Caribbean Producers traded 45,331 shares to close at $3.30, Honey Bun had 2,735 shares changing hands to close at $5.68 after falling 17 cents. Iron Rock Insurance climbed 40 cents in trading 564,394 shares to end at $4, Jamaican Teas lost 60 cents to end at $4.25 with 2,500 shares being exchanged. Key Insurance gained 20 cents to end at $2.80 with 55,524 units changing hands, KLE Group closed with 7,000 shares trading at $1.95. Lasco Distributors ended with 96,756 units trading with a fall of 4 cents to $7.01, Lasco Financial rose 8 cents with 6,294 shares changing hands, to end at $3.19, Lasco Manufacturing fell 10 cents and ended at $4.90, after 20,440 units switched hands, tTech traded 20,150 units at $5.30 and Eppley 9.5% preference share traded 17,000 units at $6.18.

Filed Under: JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , ,

Kremi & Lasco Financial in TOP 5

January 2, 2017 by

Investors’ activity in the junior market resulted in changes to the IC Insider’s TOP 5 list from that for December 9. AMG Packaging with gains of 38 percent and Blue Power with gains of 46 percent dropped off the list.
Caribbean Cream and Lasco Financial entered the top listing with potential gains based on fiscal year 2015/16 of 81 and 71 percent respectively.
Derrimon Trading fell back during the period to $3.55 to re-enter the list but has since shot up to $5.50 to be sitting well below the TOP 5 with gains of 77 percent since it entered the top 5 initially. Announcement that the company deposited money to acquire a large block of the shares in Caribbean Flavours spurred the move in the stock price.
In the IC Insider’s TOP 5, the candidates remain unchanged for the main market, with investors’ interest being focussed on other stocks in the main market.
The list comprises potential gains based on current estimated earnings which are likely to drive stock prices before the 2017 earnings start to have a full effect.
The 2017 list based on IC Insider’s earnings forecast is likely to vary quite a bit from those on the current list.

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