Stocks mostly gained on the US dollar market of the Jamaica Stock Exchange at the close of trading on Wednesday, with the market rising after trading 61.24 percent more shares than on Tuesday, resulting in more stocks rising than falling.
Four securities changed hands, compared to six on Tuesday and trading ended with two stocks rising, one declining and one remaining unchanged.
The JSE USD equity index gained 4.1 points to 193.40. The average PE Ratio ended at 13.4 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 370,094 shares, at US$28,218 compared to 954,856 units at US$23,924 on Tuesday. Trading averaged 92,524 units at US$7,055 compared to 159,143 shares at US$3,987 on Tuesday. Trading for the month to date averaged 101,720 units at US$6,181 in contrast to 102,907 units at US$6,068 on Tuesday. By comparison, December ended with an average of 55,388 units for US$6,412.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices, while no stock closed with a lower offer.
At the close of trading, Margaritaville traded 2,152 shares and closed at 11 US cents, Proven Investments rose 2.59 cents ending at 25.59 US cents, with 586 stock units changing hands, Sygnus Credit Investments fell 0.05 cents to 16.95 US cents after 157,556 stock units cleared the market and Transjamaican Highway climbed 0.09 cents to end at 0.95 US cents in exchanging 209,800 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE USD Market closes higher
JSE Main Market drops on Tuesday
Trading activities knocked several thousand points off the indices of the Jamaica Stock Exchange Main Market after more stocks declined than rose on Tuesday after an exchange of 33 percent fewer shares and a 13 percent fall in value than on Monday.
The All Jamaican Composite Index slumped 3,448.73 points to 427,800.39, the Main Index dropped 3,105.44 points to close at 390,255.61 and the JSE Financial Index dipped 1.17 points to settle at 101.03.
Trading ended with 47 securities changing hands compared to 45 on Monday and closed with prices of 13 stocks rising, 23 declining and 11 remaining unchanged.
The average PE Ratio closed at 16.6 based on ICInsider.com’s forecast of 2020-21 earnings.
Traders exchanged 14,425,631 shares for $58,928,355 down from 21,543,484 units at $67,653,800 on Monday. Transjamaican Highway led trading with 47.7 percent of total volume for 6.88 million shares followed by Pulse Investments with 18.1 percent for 2.61 million units and Wigton Windfarm with 12.8 percent market share for 1.85 million units.
Trading averaged 306,928 units at $1,253,795, versus 478,744 shares at $1,503,418 on Monday. Trading month to date averaged 350,619 units at $1,079,650, in contrast to 358,339 shares at $1,048,880 on Tuesday. Trading in December averaged 455,206 units at $7,774,631.
Investor’s Choice bid-offer indicator reading has seven stocks ending with bids higher than their last selling prices and five with lower offers.
At the close of trading, Berger Paints advanced $1.10 to $14.10, with an exchange of 895 shares, Eppley rose 90 cents to $27.90 exchanging 930 stocks. Eppley Caribbean Property Fund gained 44 cents to finish at $43, with 7,400 units crossing the exchange, Jamaica Broilers ended 40 cents higher at $28.40 trading 10,160 stocks, Mayberry Jamaican Equities lost 30 cents in closing at $7.70, with an exchange of 18,845 shares. NCB Financial declined $3.63 to $138.37 after investors swapped 21,271 shares, 138 Student Living gained 38 cents in closing at $4.89 trading 6,805 stocks, Pan Jam Investment shed 57 to $72, in exchanging 8,090 shares, Portland JSX fell $1 to $8.50, in transferring 1,673 stock units. 
Pulse Investments lost 30 cents to end at $4.45, with investors swapping 2,607,378 shares, Sagicor Group rose 85 cents to end at $50.35 after trading 10,629 stock units, Sagicor Real Estate Fund declined by $1.95 to $6.30, as investors swapped 10,000 shares and Salada Foods fell $2.75 to $26, with 871 units crossing the market.
In the preference segment, Eppley 8.75% preference share dropped 52 cents to $7 with 1,000 units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
More securities trade on JSE USD market
The number of securities trading rose on Tuesday over Monday but the volume slipped 7.29 percent as the US dollar market of the Jamaica Stock Exchange lost some ground at the close.
Trading ended with six securities changing hands, compared up from four on Monday with no stock rising, four declining and two remaining unchanged.
JSE USD equity index lost 3.57 points to end at 189.30. The average PE Ratio ends at 13 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with 954,856 shares, trading at US$23,924 down from 1,029,883 units at US$90,244 on Monday.
Trading averaged 159,143 units at US$3,987, in contrast to 257,471 shares at US$22,561 on Monday. Trading ended, with an average of 102,907 units for the month to date at US$6,068 in contrast to 89,410 units at US$6,568 on the prior trading day. By comparison, December ended with an average of 55,388 units for US$6,412.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and none with lower offers.
At the market close, First Rock Capital Investment carved out a loss of 1.89 cents in closing at 7 US cents after 101,000 stock units cleared the market, Sterling Investments shed 0.4 of a cent, ending at 2 US cents in an exchange of 48,000 stock units, Sygnus Credit Investments settled at 17 US cents after exchanging 21,686 stocks and Transjamaican Highway shed 0.04 of a cent to close at 0.86 of a US cent in finishing trading with 779,120 units.
In the preference segment, Equityline Mortgage Investment preference share remained at US$1.96 while exchanging 50 stock units and JMMB Group 6% lost 0.8 of a cent in closing at US$1.012 after 5,000 shares crossed the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Slight dip for JSE Main Market stocks
Trading took a breather on Monday with the market declining after more stocks declined than rose after an exchange of 158 percent shares than on Friday in trading activity on the Jamaica Stock Exchange Main Market.
At the close, the All Jamaican Composite Index shed 798.73 points to 431,249.12, the JSE Main Index fell by 720.19 points to 393,361.05 and the JSE Financial Index lost 0.17 points to settle at 102.20.
Trading ended with 45 securities changing hands up from 40 on Friday and closed with 12 stocks rising, 22 declining and 11 remaining unchanged. The average PE Ratio ended at 16.8 based on ICInsider.com’s 2020-21 earnings forecast.
Traders exchanged 21,543,484 shares for $67,653,800 up from 8,357,028 units at $62,510,845 on Friday. 1834 Investments led trading with 46.5 percent of total volume for 10.02 million shares, followed by Pulse Investments with 17.5 percent for 3.77 million units. Wigton Windfarm took 16.2 percent of trading, with 3.48 million shares, Transjamaican Highway with 4.8 percent for 1.04 million units and Sagicor Real Estate Fund with 4.7 percent market share for 1.01 million units.
Trading for the day averaged 478,744 units at $1,503,418 for each security, compared to an average of 208,926 shares at $1,562,771 on Friday. Trading month to date averaged 358,339 units at $1,048,880 for each security, in contrast to 333,822 units at $956,327 on the prior trading day. Trading in December averaged 455,206 units at $7,774,631.
Investor’s Choice bid-offer indicator shows ten stocks ending with bids higher than their last selling prices and three with lower offers.
At the close of trading, Barita Investments fell 75 cents to $84, in trading 59,373 shares, Berger Paints dropped by $1.10 to $13, with 2,010 stock units changing hands. Caribbean Cement climbed $1 to $61, after a transfer of 1,327 units, Eppley fell 99 cents to $27 trading 709 stocks, Eppley Caribbean Property Fund dropped $1.87 to $42.56 after exchanging 651 stock units. First Rock Capital advanced $1.15 to $13.75, in clearing the market with 54,287 units, Jamaica Broilers gained 65 cents in closing at $28 and exchanging 104,778 shares, Jamaica Producers dropped $1.33 to $19.77, with 12,260 units clearing the market. JMMB Group closed at $32.65, with a loss of 85 cents after exchanging 42,013 shares, Key Insurance slipped 17 cents to $6.18, in swapping 47,372 stock units. MPC Caribbean Clean Energy rose 47 cents to $157.47 in switching ownership of 10 shares, NCB Financial Group shed $1.70 to end at $142 after clearing the market with 30,449 stocks. 138 Student Living lost 34 cents to close at $4.51 exchanging 151 units, Palace Amusement slipped $5 to $1,295, trading 15 units, PanJam Investment shed 43 cents to end at $72.57, with the swapping of 137 stock units, Proven Investments slid 69 cents to $35.10 trading 22,684 units. 
Pulse Investments gained 8 cents in closing at $4.75, after exchanging 3,765,486 shares, Sagicor Group shed 95 cents to end at $49.50 in exchanging 9,798 units. Sagicor Real Estate Fund fell 73 cents to $8.25, with 1,010,838 stocks changing hands, Supreme Ventures shed 40 cents in closing at $17.50, after the transfer of 29,737 shares. Sygnus Credit Investments rose 57 cents to $17.27, in trading 9,730 units and Victoria Mutual Investments lost 9 cents in closing at $5.91, with an exchange of 46,532 stock units.
In the preference segment, Eppley 8.75% preference share rose 46 cents to settle at $7.52, with 373 shares crossing the exchange, Eppley 8.25% climbed $1 to $7, finishing with a transfer of 200 units and JMMB Group 7.5% gained 5 cents to close at 75 cents, in an exchange of 37,141 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Volume surge for JSE USD market
Trading closed down on Monday after more stocks declined than gained when the US dollar market of the Jamaica Stock Exchange closed after 21 times more shares changed hands than on Friday,
For the third consecutive day, trading ended with four securities changing hands at the close and ended with the prices of one stock rising, three declining and none remaining unchanged.
JSE USD Equity Index lost 0.74 points to end at 192.87. The average PE Ratio ends at 13.8 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 1,029,883 shares, accounting for US$90,244 compared to 45,271 units at US$1,924 on Friday. Trading averaged 257,471 units at US$22,561, compared to an average of 11,318 shares at US$481 on Friday. Trading month to date ended at an average of 89,410 units for US$6,568 in contrast to 57,399 units at US$3,521 on Friday. By comparison, December ended with an average of 55,388 units for US$6,412.
Investor’s Choice bid-offer indicator reading shows no stock ended with the bid higher than the last selling price and one with a lower offer.
At the close of the market, First Rock Capital Investment lost 0.01 of a cent to end at 8.89 US cents after trading 1,004,937 shares, Proven Investments dropped 2.69 cents to end at 23 US cents after exchanging 2,800 stocks. Sygnus Credit Investments rose half a cent to 17 US cents, with 254 stock units changing hands and Transjamaican Highway carved out a loss of 0.04 of a cent to settle at 0.9 of a US cent after 21,892 stocks crossed the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Proven expanding investment foot print
Proven Investments signed an agreement to acquire a 50.5 percent controlling interest in Roberts Manufacturing Company, a Barbados based company, Proven announced this past week.
The agreement is for the purchase of shares from Massy Properties (Barbados) for US$21,452,500. “The consideration includes real estate for US$1,452,500, with the rate of return on the investment put at 15 percent based on the purchase price,” Christopher Williams, CEO of Proven, advised ICInsidier.com.
“Closing is scheduled to take place 3 business days following the receipt of all regulatory and governmental confirmations, approvals, and acknowledgments, save that the closing date may not be extended beyond 30 days,” Proven further advised.
“RMCL produces a variety of margarine, shortening, soyabean oils and animal feed products, which are distributed to over 15 markets regionally and internationally.
“The proposed acquisition is one of three that Proven has been negotiating,” Williams advised ICInsidier.com. One is said to be a financial institution in the Cayman Islands that is subject to regulatory approval and will result in the group owning two companies in that country with the 100 percent owned International Financial Planning (Cayman) Limited. The other business under consideration is in the business of property rental.
“The acquisition of the majority shareholding of RMCL is aligned with PROVEN’s strategy to grow through acquisition in the real sector throughout the Caribbean and Latin American regions with a view to create value to its shareholders.” the Proven release stated.
Christopher Williams, Proven Investments CEO.
RMCL has Ansa Mc Al as the minority shareholder who manages the operations. Proven decided to invest in the manufacturing operations due to the high rate of returns on investments. Management is already in place running it and the appeal of the products to a wide cross section of customers regionally and in developed countries.
Proven generated profit attributable to shareholders of US$29.98 million for the financial year to March 2020 and is boosted by US$25 million in gains from the sale of part of their investments in Access Financial Services. The company suffered losses of nearly US$18 million on other investments and ended the year with a total comprehensive profit of US$18 million.
For the September quarter, Proven generated profits of US$3.4 million and US$4.8 million for the six months. That should compute to around 1.5 US cents per share for the year, but Williams expects this to jump to 24 US cents per share in 2022. Whether that target is achieved or not is unsure at this stage, but what is known is that the last capital raise was not all fully utilized as expansion plans slowed and would have generated a lower rate of return than if they were used in the acquisition of profitable ventures. In addition, the latest announced acquisition will add around US$3 million to annual profit or about 4 cents per share and push Earnings per share within the 20 cents range. The investment market recovered from the collapse in the March quarter and resulted in total comprehensive profit of US$17 million for the September quarter and US$27 million for the half year, thus reversing the 2020 losses in the investment market.
Proven Investments traded the most shares on the market.
To assist in funding acquisitions and ensuring adequate liquidity, the company has offered for sale 89,416,037 new ordinary shares to existing shareholders and the public. The company has the option to upsize the issue to a maximum of 134,124,037 shares to raise a maximum of US$30 million, assuming the Invitation is fully upsized. If fully upsized, the total number of shares in issue will be 759.43 million units.
The price to be paid per share by Existing Shareholders is 22.50 US cents or J$32.80, Key Investors 22 US cents or J$32.10 and others 23 US cents or J$33.50. All the prices are below existing market prices of 25.69 US cents and J$35.79 in the Jamaican segment of the Jamaica Stock Exchange. Acquisitions in the financial sector will provide the opportunity for cross selling products and services to clients in each company, as well as provide the opportunity for some amount of cost reduction as certain administrative and other costs can be shared within the group.
The Directors anticipate that not less than 50 percent of the Company’s annual after-tax profits will be distributed as dividends, subject to the requirement for re-investment of its profits to finance potential growth and to ensure sustained development, as well as due compliance with the solvency and liquidity criteria set by the Company’s Investment Policies.
The official closing date for the offer is January 29, 2021.
JSE Main Market slips on Friday
Prices of stocks mostly rose in early trading Friday, pushing the All Jamaican Composite Index up by more than 1,300 points, after 30 minutes of the opening of trading on the Jamaica Stock Exchange Main Market. The gains eventually gave way to a small loss at the close, after an exchange of 80 percent more shares than on Thursday.
At the close of trading, the All Jamaican Composite Index fell by 779.63 points to 432,047.85, the JSE Main Index shed 705.51 points to 394,081.24 and the JSE Financial Index lost 0.23 points to end at 102.37.
Trading ended with 40 securities changing hands compared to 44 on Thursday and closed with prices of 18 stocks rising, 14 declining and eight remaining unchanged. The average PE Ratio sits at 17 based on ICInsider.com’s forecast of 2020-21 earnings.
Traders exchanged 8,357,028 shares for $62,510,845 compared to 42,478,328 units at $63,599,694 on Thursday. Pulse Investments led trading with 23.9 percent of total volume for 1.99 million shares, followed by Transjamaican Highway with 23.6 percent for 1.97 million units, Carreras with 18.3 percent for 1.53 million units and Wigton Windfarm with 13.2 percent of the day’s trades for 1.1 million units.
Trading averaged 208,926 units at $1,562,771 compared to 965,417 shares at $1,445,448 on Thursday. Trading month to date averaged 333,822 units at $956,327, in contrast to 361,424 units at $822,306 on Thursday. Trading in December averaged 455,206 units at $7,774,631.
Investor’s Choice bid-offer indicator reading has seven stocks ending with bids higher than their last selling prices and three with lower offers.
At the market’s close, Berger Paints gained $1.10 in closing at $14.10, with 6,614 stock shares crossing the market, Caribbean Cement declined by $2 to $60, with investors swapping 6,491 stock units, First Rock Capital gained 40 cents in ending at $12.60, after exchanging 2,100 units. Grace Kennedy shed 50 cents in closing at $65, with a transfer of 27,899 shares, Jamaica Broilers declined by $2.15 to $27.35, in exchanging 385,609 shares, Jamaica Producers closed $1.05 higher at $21.10, with 10,506 stock units clearing the market. Jamaica Stock Exchange shed 72 cents to settle at $19.20 after trading 6,732 units, Kingston Wharves gained 50 cents in closing at $47 in an exchange of 3,090 stock units, Mayberry Investments picked up 32 cents to end at $5.97 after clearing the market with 14,716 shares. 
Pan Jam Investment climbed $4.97 to $73, with 11,719 stock units changing hands, Proven Investments gained 66 cents to end at $35.79, with 9,626 shares crossing the market, Sagicor Real Estate Fund rose 71 cents to $8.98 trading 2,121 stock units. Salada Foods climbed $3.75 to $28.75, transferring 33 units, Scotia Group fell by $1 to $43, with 175,560 shares crossing the market and Sygnus Credit Investments lost 40 cents to close at $16.70, clearing the market with 51,777 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Volume down prices up on JSE USD Market
Trading volume dropped with 94.15 percent fewer shares changing hands than on Thursday, with the prices of more stocks rising than falling at the close of the US dollar market of the Jamaica Stock Exchange on Friday.
For a second consecutive day, trading ended with four securities changing hands and ended, with the prices of two stocks rising, one declining and one remaining unchanged.
JSE USD equity index gained 4.62 points to end at 193.61, with the average PE Ratio ended at 14 based on ICInsider.com’s forecast of 2020-21 earnings.
Trading accounted for 45,271 shares at US$1,924 compared to 773,965 units at US$7,492 on Thursday.
Trading averaged 11,318 units changing hands at US$481 versus 193,491 shares at US$1,873 on Thursday. Trading month to date, averaged 57,399 units at US$3,521 in contrast to 68,241 units at US$4,237 on Thursday. By comparison, December ended with an average of 55,388 units for US$6,412.
Investor’s Choice bid-offer indicator shows no stocks ended with bids higher than their last selling price and one with a lower offer.
At the close of trading, First Rock Capital Investment shed 0.08 of a cent to end at 8.9 US cents in exchanging 380 shares, Proven Investments gained 3.68 cents to close at 25.69 US cents, trading 1,431 stock units. Sterling Investments gained 0.02 of a cent and ended at 2.4 US cents, with 40,000 stock units crossing the market and Sygnus Credit Investments remained at 16.5 US cents in exchanging 3,460 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Rise for JSE Main Market
Stocks put in modest gains for the Jamaica Stock Exchange Main Market at the end of trading on Thursday after an exchange of five times more shares than on Wednesday at nearly twice the value as rising stocks beat out declining ones.
At the close, the All Jamaican Composite Index advanced by 626.97 points to 432,827.48, the Main Index rose 425.29 points to 394,786.75 and the JSE Financial Index inched 0.06 points higher to 102.60.
Trading ended with 44 securities changing hands compared to 46 on Wednesday and closed with prices of 18 stocks rising, 15 declining and 11 remaining unchanged. The PE Ratio closed with an average of 16.9 based on ICInsider.com’s forecast of 2020-21 earnings.
Traders exchanged 42,478,328 shares for $63,599,694 up sharply from 8,061,938 units at $33,788,624 on Wednesday. QWI Investments led trading with 71.1 percent of total volume for 30.21 million shares, followed by Transjamaican Highway with 19.6 percent for 8.34 million units and Sagicor Select Financial Fund with 2.2 percent for 947,698 units.
Trading averaged 965,417 units at $1,445,448 compared to 175,260 shares at $734,535 on Wednesday. Trading month to date averaged 361,424 units at $822,306 compared to 167,441 units at $622,172 on the prior trading day. Trading in December averaged 455,206 units at $7,774,631.
Investor’s Choice bid-offer indicator reading has seven stocks ending with bids higher than their last selling prices and two with lower offers.
At close of trading, Barita Investments lost 25 cents to close at $84.75, with an exchange of 2,952 shares, Berger Paints shed 89 cents to $13 in swapping 4,523 units, Caribbean Cement climbed $1.60 to $62, with investors swapping 1,610 units. First Rock Capital lost 70 cents in closing at $12.20, with 2,404 units changing hands, Grace Kennedy rose $1.50 to $65.50 trading 52,367 shares, JMMB Group closed $1.50 higher at $33.50, with 159,912 shares crossing the exchange. Kingston Wharves finished 50 cents lower at $46.50, after 1,753 units traded, NCB Financial shed 45 cents to $143.55 after trading 14,666 stock units, Palace Amusement climbed $194 to $1,300, in an exchange of 87 shares, Pan Jam Investment dropped $6.17 to close at $68.03, with investors swapping 1,468 units. 
Proven Investments rose 73 cents to finish at $35.13 in exchanging 2,960 units, Seprod fell $1 to $64, with a transfer of 13,722 stock units, Supreme Ventures gained 31 cents to close at $17.87, with 5,935 shares changing hands.
In the preference segment, Eppley 8.75% preference share shed 46 cents to close at $7.06, trading 3,438 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading picks up on JSE USD market
Nearly eight times the number of shares traded on Wednesday than Thursday, resulting in an even number of stocks rising and falling on the US dollar market of the Jamaica Stock Exchange, with the market declining at the close.
Trading ended with four securities changing hands, up from three on Wednesday and closed with the prices of two stocks rising and two declining.
The JSE USD equity index shed 1.83 points to close at 188.99. The average PE Ratio ended at 13.8 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 773,965 shares accounting for US$7,492 compared to 101,863 units at US$1,194 on Wednesday.
Trading averaged 193,491 units changing hands at US$1,873, in contrast to an average of 33,954 shares at US$398 on Wednesday. Trading month to date, averaged 68,241 units at US$4,237, in contrast to 29,703 units at US$4,964 on Wednesday. December ended with an average of 55,388 units for US$6,412.
Investor’s Choice bid-offer indicator reading shows no stock ending with bids higher than their last selling prices or with lower offers.
At the close of trading, First Rock Capital Investments fell by 0.01 of a cent to end at 8.98 US cents, in exchanging 102 units, Proven Investments declined by 2.89 cents to close at 22.01 US cents, after clearing the market with 3,240 units, Sterling Investments rose 0.38 US cents to settle at 2.38 US cents, in crossing the exchange with 12,910 stock units and Transjamaican Highway gained 0.11 cents to close at 0.94 US cents, with the swapping of 757,713 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.