Only $10m traded on JSE on Monday

August 31, 2015 by

NCB's new Constant Spring Rd. branch. The company's stock closed with a gain of 73 cents on Monday

NCB’s new Constant Spring Rd. branch. The company’s stock closed with a gain of 73 cents on Monday

The Jamaica Stock Exchange closed on Monday with main market indices declining again but advancing stocks were in the ascendancy. The market closed with 33 securities changing hands, resulting in 2,973,601 units trading, valued at $10,712,304, with 14 stocks rising, 6 declining and 2 junior market stocks closing at new 52 weeks’ high, in all market segments.
Unlike Friday when there were only 9 securities trading in the main and US dollar markets, Monday saw trading in 19 securities.
At the close, the JSE Market Index fell 334.02 points to 97,283.75. The JSE All Jamaican Composite index declined 373.34 points to 107,676.10 at support level on the downside and the JSE combined index added 227.26 points to end at 100,418.20.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading that confirms that the decline in the market is ending. JSE sum- 31-08-15rTrading closed with a reading of 10 stocks with bids higher than their last selling prices, and 4 with offers that were lower, the same reading as on Friday.
In trading, Cable and Wireless rose just 1 cent with 1,764,685 units and closed at 46 cents. At the close, bids have built up with 159,000 units at 44 cents, at 43 cents, two bids form 779,586 units, and at 42 cents 710,209 units, 120,000 at 41 cents and 1,538,423 units at 40 cents. On offer between 46 and 52 cents, are 7 visible offers to sell 1,550,578 shares, IC Insider understands that there is an undisclosed amount at 46 cents. Grace Kennedy had 48,366 units changing hands at $64, Jamaica Broilers traded at $6.40 with just 2,500 shares JSE fn Qts-31-08-15changing hands to gain 80 cents, JMMB Group traded 28,350 shares at $7.50, but lost 20 cents, National Commercial Bank traded 11,348 shares and closed with a gain of 73 cents at $28.75. Sagicor Group with 82,930 shares changing hands, closed at $13. Scotia Group traded 70,705 units to close with a gain of 60 cents at $24.36, Scotia Investments ended down 79 cents at $27 while only 1,000 units traded, Supreme Ventures ended with 21,362 stock units trading, with a gain of 2 cents to $3.42 and Proven Investments ordinary share, traded 23,350 units at 21 US cents for a loss of 1 US cent.

Filed Under: JSE Main Market Tagged With: , , , , , , , , , ,

Trading drops sharply on JSE

August 28, 2015 by

The Jamaica Stock Exchange on Friday closed with main market indices gaining modestly, with declining stocks equalling advancing ones. The market endured a very slow day, with the market closing with only 16 securities changing hands, resulting in 1,868,635 units trading, valued at $28,326,579 with 6 stocks rising, 6 declining, in all market segments. There were only 9 securities trading in the main and US dollar markets.
JSE sum- 28-08-15rAt the close, the JSE Market Index rose 221.30 points to 97,617.77. The JSE All Jamaican Composite index gained 247.34 points to 108,049.44 at support level on the downside and the JSE combined index added 316.62 points to end at 100,645.46.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading that is confirming that the decline in the market is ending, with a reading of 10 stocks with bids higher than their last selling prices and 4 with offers that were lower.
In trading, Cable and Wireless rose just 1 cent with 20,000 units and closed at 45 cents, at the close, bids have built up with 120,000 units at 44 cents, at 43 cents, two bids form 779,586 units, and at 42 cents 710,000 units and 458,000 units at 40 cents. On offer JSE fn Qts-28-08-15
between 45 and 50 cents, are 11 visible offers to sell 1,867,550 shares. Carreras had 191,096 units changing hands at $49, with a loss of 50 cents. Desnoes and Geddes traded 654,909 shares to close 10 cents lower at $6.80, Jamaica Broilers traded at $5.60 with just 9,318 shares changing hands, JMMB Group traded just 580 shares at $7.70, but gained 18 cents, Sagicor Group with 169,500 shares changing hands, closed 20 cents higher at $13. Scotia Group traded 31,550 units to close with a loss of 5 cents at $23.76 and Proven Investments ordinary share traded 427,400 units at 22 US cents for a gain of 1.9 US cents

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

JSE up slightly juniors drop Thursday morning

August 20, 2015 by

The Jamaica Stock market has started the morning session up to 10.30 am on a slow pace, in the process the All Jamaica Index trades at 109,785.04 to gain 79.64 JSE Intra 20- 08-15points, JSE Market Index rose 71.26 points to 99,170.57. The combined index fell 97.47 points to be at 102,577.41 and the junior market index 1,001.67, down 18.18 points.
In trading, Cable & Wireless rose back to 45 cents with only 88,317 units, Gleaner slipped to $1.80 from $2 while trading 17,000 shares, JMMB Group traded only 38,3750 units at $7.95 and Proven Investments Limited contributed 120,000 shares at 19 US cents.
A total of 19 securities with a volume of only 820,481 units have traded with 6 stocks declining versus 5 that rose.

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

Scotia Group fall hits JSE indices

August 14, 2015 by
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Scotia lost $2 on Friday

Scotia lost $2 on Friday

Scotia Group price fell back $2 and hits the JSE main market indices pretty hard, resulting in big losses on Friday. The Jamaica stock market closed with 8 stocks rising, 11 declining as 24 securities changed hands with 1,830,046 units trading, valued at $8,866,064 and 2 stocks closed at new 52 weeks’ high, in all market segments.
At the close, the JSE Market Index dropped 1,377.83 points to 100,808.67, the JSE All Jamaican Composite index shed 1,540.03 points to close at 111,615.98 and the JSE combined index dipped 1,378.55 points to end at 104,363.81.
JSE sum- 14-08-15 IC bid-offer Indicator| At the end of trading in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 6 stocks with bids higher than their last selling prices and 4 with offers that were lower.
In trading, Cable and Wireless ended with 636,069 units changing hands to close 5 cents higher at 45 cents, Caribbean Cement stock rose 35 cents to close at $7.50 with 353,986 units traded, Gleaner closed with 127,400 shares traded to close at $2.71 for a loss of 1 cent, Jamaica Broilers traded at $7 with 18,345 shares changing ownership. Jamaica Stock Exchange traded 14,875 shares at a new all-time high of $8.30 to gain $1.29, JMMB Group JSE fn Qts-14-08-15utraded 6,545 units with the price rising 30 cents to end at $7.80, National Commercial Bank traded only 7,843 shares at $30.10. Pan Jamaican Investment closed at $61 after trading 5,484 shares, 9 cents higher, Proven Investments closed at 18.55 US cents after declining 0.45 US cents with 40,884 shares changing hand. Pulse Investments lost 15 cents in trading 62,750 shares to end at 45 cents, Radio Jamaica traded just 20,296 shares to end at $3.95, for a 5 cents fall, Sagicor Group ended trading with 46,300 units at $13 to fall by 10 cents. Sagicor Real Estate Fund closed at $8.30 while trading 15,274 units, Scotia Group lost $2 and ended with 89,612 units trading at $24 and Jamaica Money Market 7.5% preference ended at $2 with 54,500 units changing hands.

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

12 stocks up 15 down as JSE indices jump

August 13, 2015 by

JSE main market pierced resistance at 108,000 points & is heading to the next resistance level at 115,000 points.

JSE main market pierced resistance at 108,000 points & is heading to the next resistance level at 115,000 points.

The Jamaica stock market closed with 12 stocks rising, 15 declining as 36 securities changed hands with 5,017,857 units trading, valued at $33,419,303 and 3 stocks closed at new 52 weeks’ high one closed at 52 weeks’ low and one traded at an intraday weeks’ 52 high, in all market segments.
At the close, the JSE Market Index gained 676.72 points to 102,186.50, the JSE All Jamaican Composite index rose 756.39 points to close at 113,156.01 and the JSE combined index climbed 660.25 points to end at 105,742.36.
IC bid-offer Indicator| At the end of trading in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 9 stocks with bids higher than their last selling prices and 10 with offers that were lower.
JSE sum- 13-08-15rIn trading, Cable and Wireless ended with 990,000 units changing hands at 40 cents, Caribbean Cement stock fell $1.35 to close at $7.15 but traded as high as $8.60 with 669,805 units traded, Carreras traded 3,200 units to close 50 cents off at $51.50, Desnoes & Geddes had 43,637 shares changing hands at $6.80, up 29 cents. Gleaner closed with 377,400 shares traded at new closing 52 weeks’ high of $2.72 for a gain of 21 cents. Grace Kennedy traded 138,893 shares to end at $64.01, Jamaica Producers gained 20 cents to end at $19 with 3,160 units trading. JP yesterday reported earnings for the second quarter attributable to shareholders of $414 million but the bulk of that it, $319 million came from gain on sale of fixed assets and investments. The year-to-date to June net profit attributable to JP shareholders was $589 million compared to $138 million in 2014 of which $429 million came from gains on disposal of fixed assets and investments. JMMB Group traded JSE fn Qts-13-08-1530,000 units and fell 10 cents to end at $7.50, Mayberry Investments had 149,575 shares trading at $3.15, National Commercial Bank traded 109,682 shares at $30.10 with a decline of 90 cents. Radio Jamaica traded just 59,325 shares to end at $4, for a 30 cents decline, Proven Investments closed at 19 US cents after gaining 1.50 US cents with 255,000 shares changing hands, Sagicor Group ended trading with 30,528 units at $13.10 to add 5 cents. Sagicor Real Estate Fund closed at $8.30 while trading 27,548 units, Scotia Group lost 45 cents and ended with 61,898 units trading at $26, and Supreme Ventures traded 27,997 shares at $4 after shedding 50 cents and Proven Investments 8% preference ended at a new 52 weeks’ low of $4.96 with 418,000 units changing hands after losing 2 cents.

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

20 stocks rose to 6 falling on JSE

August 12, 2015 by

RJR closed at a new 52 weeks high of $4.30.

RJR closed at a new 52 weeks high of $4.30.

The Jamaica stock market closed with 20 stocks rising, 6 declining as 34 securities changed hands with 7,947,402 units trading, valued at $51,560,091 and 6 stocks closed at new 52 weeks’ high in all market segments.
JSE Market Index gained 276.39 points to 101,233.39, the JSE All Jamaican Composite index rose 308.93 points to close at 112,399.62 and the JSE combined index climbed 207.08 points to end at 105,082.11.
IC bid-offer Indicator| At the end of trading in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 5 stocks with bids higher than their last selling prices and 5 with offers that were lower.
JSE sum- 12-08-15In trading, Cable and Wireless ended with 1,182,806 units changing hands at 40 cents, Caribbean Cement stock gained 51 cents to close at $8.50, Carreras traded 6,834 units to close at $52, Desnoes & Geddes had 43,637 shares changing hands at $6.80, up 29 cents. Gleaner closed with 250,132 shares traded at new closing 52 weeks’ high of $2.51 for a gain of 36 cents. The stock had traded as high as $2.70 during trading. Grace Kennedy traded 72,578 shares to end at $64, Jamaica Broilers had 11,419 shares changing hands, in closing at $7 for a gain of 30 cents. Jamaica Producers (JP)dropped $1.20 to $18.80 with 986,248 units trading. JP reported earnings for the second quarter attributable to shareholders of $414 million but the bulk of that it, $319 million came from gain on sale of fixed assets and investments. The year-to-date to June net profit attributable to JP shareholders was $589 million compared to $138 million in 2014 of which $429 million came from gains on disposal of fixed assets and investments. JMMB Group traded 10,600 units and fell 39 cents to end at $7.60, JSE fn Qts-12-08-15 Mayberry Investments had 219,866 shares trading at $3.15 for a loss of 35 cents, National Commercial Bank traded 44,926 shares at $31 with a gain of 50 cents. Radio Jamaica traded just 8,132 shares to end at $4.30, a new 52 weeks’ high, Sagicor Group ended trading with 17,790 units at $13.05, and lost 15 cents. Proven Investments closed at 17.5 US cents after falling 0.50 US cents with 200,000 shares, Sagicor Real Estate Fund closed at $8.30 while trading 295,742 units, Scotia Group gained 44 cents and ended with 109,216 units trading at $26.45, Scotia Investments ended with 15,000 shares changing hands at $27.99, up 99 cents and Supreme Ventures traded 1,974,455 shares at $4.50, a new all-time high by adding 92 cents.

Filed Under: Breaking News, Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , ,

$6.95 much for Sagicor X fund rights

August 9, 2015 by

Hilton Rose Hall Sagicor X Fund recent acquisition

Hilton Rose Hall Sagicor X Fund recent acquisition

Sagicor Real Estate X Fund rights issue is priced at J$6.95 per share, 50 cents higher than the net book value of $6.55. The issue a non-renounceable for up to 598,134,700 new ordinary shares on the basis of two new shares for every five units held as at August 17 2015.
The stock closed at $8.50 on the Jamaica Stock Exchange on Friday August 7th with 34,000 shares changing hands. The closing date for the issue is September 2, 2015, with the opening on August 19. The gross funds expected to be raised is J$4,157,036,165 and are intended to be used to assist Fund to acquire a convention hotel in Orlando, Florida, which is affiliated with a major hotel chain. The rights issue document states that the “resort has 742 rooms with over 62,800 square feet of meeting and convention space. It is located in Orlando at the entrance to the Universal Theme Park. The balance of the purchase price is expected to be funded by way of a loan”.
Sagicor Pooled Diversified Investment Fund and other connected Sagicor entities which together own approximately 80% of the stock units of the Company have stated that they intend to take up all their Rights. Shareholders who do not take up any of their Rights will be diluted by 28.57% assuming that all the Rights Shares are taken up and the Rights Issue is not up-sized.
The Fund reserves the right, in the event of over-subscription for shares from the Un-allocated Pool to upsize the Rights Issue by releasing up to maximum of 149,533,675 shares into the Un-allocated Pool to meet demand from its shareholders. X Fund does not intend to up-size the Rights Issue beyond the aforesaid maximum. If the Rights Issue is up-sized to the maximum the issued share capital of the Company would be increased by 50% over the current amount of shares in issue of 1,495,336,750 stock units and a shareholder who did not take up any of his Rights Shares would be diluted by 33⅓%.
Sagicor group a better buy with a PE around 6 times 2015 earnings

Sagicor group a better buy with a PE around 6 times 2015 earnings

Buoyed by an abnormal first quarter results, earnings ended at 46 cents per share to June versus 27 cents for the six months to June last year. Unfortunately, the rights issue document fails to indicate what income and profit is expected from the property being acquired nor what the forecast is for the rest of 2015 for the overall operations, to allow investors an insight into what is to be expected.
The stock which is overvalued is unlikely to enjoy the generation of profits in the short run from ongoing operations to justify the price being asked. In a market where few stocks are selling at a premium to net asset value, it is difficult to see why rational investors would want to pay a premium to the market for such an investment and suffer later the prospects of disappointing earnings that will justify the price either. One only has to look at Proven Investments shares, where investors gobbled up the stock at inflated prices as high as 22 US cents only to see few buyers for it now at 18 US cents to realise that hype will often will out in the short run but reality sets in after.
Investors should know what they are buying but that is not clear from the offer document but Sagicor Group selling at a PE of 6-7 times this year’s earnings with a book value of $12.17 versus last traded price of $13 is a far better buy. The issue is taking place in a bull market so who knows what will happen?

Filed Under: Company News, General Business News, JSE Main Market, Stock Market Tagged With: , , , , ,

JSE enjoying slow Friday

June 26, 2015 by

Trading was mild with 75 minutes of trading having elapsed leading to 11 securities JSE Intra - 26-06-15.trading with 5 rising and 2 declining comprising a total volume of only 252,281 shares changing hands.The all Jamaican Composite index inched up 81.31 to 107,496.53 points, JSE Combined Index put on 77.40 to 99,682.59 points, JSE Index is now at 97,123.17 points after adding 72.75 points and Junior Market Index fell to 895.31, up by 0.97 points.
The most noticeable trade so far is Pan Jamaican with just 760 units trading as the price rose by $2.93 to $63.70, National Commercial Bank with 137,010 shares changing hands at $29 and Proven Investments with 76,970 shares at 21.2 US cents.

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

JSE ekes small gain Monday

June 22, 2015 by

Activity on the Jamaica Stock Exchange, resulted in the prices of 11 stocks rising,11 declining as 31 securities changed hands, ending in 2,308,869 units trading, valued at $12,795,656, and 4 stocks closing at new 52 weeks’ high, in all market segments.
JSE sum 22-6-15The JSE Market Index added 56.80 points to 97,438.98, theJSE All Jamaican Composite index rose 63.48 points to close at 107,849.53 and the JSE combined index gained 124.65 points to end at 100,259.54.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 10 stocks with bids higher than their last selling prices and 4 with offers that were lower.
In trading Cable & Wireless ended with 204,187 units changing hands I cent higher at the close at 45 cents but traded as high as high as 48 cents. Caribbean Cement ended with 173,958 units trading, but lost 35 cents to end at $5.50, Desnoes & Geddes traded 28,187 shares and lost 5 cents in closing at $7.56, Jamaica Broilers had 9,768 shares changing hands and fell 55 cents to end at $5.45, JMMB Group traded unchanged at $7.50 after 237,117 JSE clse qts- 22-6-15units changed hands. National Commercial Bank traded 94,083 shares and lost 5 cents in closing at $29.45, Sagicor Group ended with 94,279 shares being active, fell 20 cents to end at $12.40, Scotia Group struggles to recover with 36,944 shares closed unchanged at $23.15. Proven Investments ordinary share traded 51,000 units and declined 3 cents to 19 US cents, Jamaica Money Market Brokers 7.50% preference share traded 243,400 units at $2 and Proven Investments 8% preference share had 10,100 units traded and lost 1 cent in closing at a 52 weeks’ low of $4.99.

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

JSE slips most stocks rose

June 19, 2015 by

Caribbean Cement factory the company's stock closed at a 52 weeks' high on Friday

Caribbean Cement factory the company’s stock closed at a 52 weeks’ high on Friday

Activity on the Jamaica Stock Exchange, resulted in the prices of 15 stocks rising, 9 declining as 31 securities changed hands, ending in 5,015468 units trading, valued at $22,480,880, with 6 stocks closing at 52 weeks’ high, in all market segments. Only 7 stocks gained in the main market with 5 declining.
TheJSE Market Index lost 248.58 points to 97,382.18, theJSE All Jamaican Composite index fell 277.83 points to close at 107,786.05 and the JSE combined index dropped 186.25 points to end at 100,134.89.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 8 stocks with bids higher than their last selling prices and 3 with offers that were lower.
JSe sum 19-6-15rvIn trading, Cable & Wireless ended with 400,245 units changing hands, 1 cents down at 44 cents, there is some amount of selling at the 48-50 cents range and not much buying showing before 40 cents, with the full 2015 fiscal year results showing a large loss. The Gleaner contributed 670,000 shares with the price rising 3 cents, to end at $1.08, Jamaica Stock Exchange ended at a new all-time high of $7 with 58,055 shares trading to gain of 65 cents, ahead of the ex-dividend date of June 23. JMMB Group had 215,427 shares changing hands with the price remaining at $7.50. National Commercial Bank trading in only 32,931 shares closed at $29.50, Pan Jamaican Investment contributed 20,962 shares with the price slipping 1 cent, to $63.50, JSE fn qts 19-6-15 the stock traded earlier at a 52 weeks’ high of $65, Radio Jamaica closed at a new 52 weeks’ high of $3.20 with 50,000 shares changing hands. Sagicor Group contributing 185,000 shares with the price easing 1 cent, to $12.60. Scotia Group contributing 32,351 shares with the price rising just 1 cent to $23.15, Scotia Investments had 32,219 shares trading between $27.28 and the last price of $29.85, Supreme Ventures contributed 2,148,484 shares with the price falling 20 cents, to $3.50 and Proven Investments contributing 94,708 shares with the price closing unchanged at 22 US cents.

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