After clearing the near 11 year record high set back in January 2005 on Monday on Jamaica Stock Exchange bulls continued their rampage and pushed the market on Tuesday to a new record high of 143,154 points after adding 2,959.73 points on the all Jamaica Composite Index.
A total of 24 stocks rose, 10 declined as 40 securities, totalling 6,809,889 units valued at $47,476,253 changed hands, in all market segments. A total of 12 stocks ended at 52 weeks’ closing highs and 3 traded at 52 weeks’ intraday high. The JSE Market Index shot up 2,648.39 points to 129,029.81, a new closing high. JSE combined index climbed 2,323.43, points to end at a new closing high of 133,399.90.
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 12 stocks with bids higher than their last selling prices and 2 with offers that were lower.
In trading, Berger Paints traded 15,000 shares and gained 40 cents to close at $3.40 for a 52 weeks’ high, Cable and Wireless closed with a gain of 24 cents as with 338,626 shares changed hands to end at 52 weeks’ high of $1.26. The stock closed 76,499 units on the bid at $1.27 and with over 2,168,716 million shares on the bid at $1.26. Caribbean Cement gained $1 to end at $18.50 for a new 52 weeks’ closing high, with 193,583 shares changing hands.
Cement closed with seven lots being offered amounting to just over 400,000 shares between $18.50 and $24. Carreras ended at 52 weeks’ high with 5,000 share trading at $53 after adding 98 cents, Ciboney Group traded 200,000 shares to end at 9 cents after gaining 1 cent. Desnoes & Geddes had 451,515 units changing hands to close at $30, Grace Kennedy exchanged 1,200 shares at $67.50 to close at a new 52 weeks High as the price gained $2.40, Jamaica Broilers traded 162,859 shares to close at $8.01. JMMB Group lost 45 cents in trading 115,050 shares to close at $9.75, Mayberry Investments traded 49,431 shares and gained 31 cents to end at a 52 weeks high of $3.81, National Commercial Bank rose 12 cents to end with 73,630 shares trading at $31.50. Pan Jamaican price traded 12,771 shares to end at $80, Pulse Investments traded 118,971 and close at 5 by gaining 4 cents, Sagicor Group lost 20 cents with 68,757 shares trading to close at $14.30.
Sagicor Real Estate Fund traded 25,000 units as the price gained 80 cents to close at $10 for a 52 weeks’ high. Scotia Group ended with 125,411 shares trading closed at $26.50 after rising by 50 cents, Seprod traded 31,400 shares at $14.96, Sterling Investments traded 216,400 shares to close at $13, Supreme Ventures ended at $3.90 with 808,203 units changing hands and lost 10 cents. Jamaica Money Market Brokers 8.75% preference share, had 100,000 units changing hands at $2.70 and Proven Investments 8% preference share closed with a loss of 10 cents as 120,500 units traded to end at $4.95.
JSE slips slightly at close Monday
The Jamaica Stock Exchange on Monday closed with main market indices undergoing small losses. The Jamaica stock market closed with 8 stocks rising, 12 declining as 28 securities changed hands with 3,402,118 units trading, valued at $40,255,758, in all market segments.
At the close, the JSE Market Index dropped 80.85 points to 100,727.82, the JSE All Jamaican Composite index shed 90.37 points to close at 111,525.61 and the JSE combined index dipped 54.59 points to end at 104,309.22.
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 7 stocks with bids higher than their last selling prices and 6 with offers that were lower.
In trading, Berger Paints had 27,080 shares changing hands with a gain of 5 cents to end at $2.60, Carreras dropped $1.50 to $50 with 157,969 shares changing hands, Gleaner closed with 70,665 shares and gained 2 cents at $2.73 after the price had fallen in the morning session to $2.30. Hardware & Lumber ended up at $16, after adding $1 with 13,500 units changing hands. Jamaica Producers traded at $19 with 100,000 shares changing ownership. 
JMMB Group traded 12,000 shares up to $7.99 to gain 19 cents, with the company reporting strong increase in profit for the first quarter, National Commercial Bank traded 99,530 shares at $30 while losing 10 cents. Pulse Investments lost 10 cents in trading 57,000 shares to end at 35 cents, Radio Jamaica traded 27,440 shares to end at $4, with a gain of 5 cents, Sagicor Group ended trading with 1,770,848 units at $13, Sagicor Real Estate Fund lost 20 cents to close at $8.10 while trading 23,990 units. Scotia Group did not trade but had a bid at $24.51 that is higher than the last selling price of $24 and Scotia Investments traded 9,157 with decline of 69 cents to $27.30.
Sharp JSE drop but 4 new highs
Scotia pushes market down on Friday
Trading concluded with 8 stocks rising, 8 declining as 22 securities changed hands, ended in 3,083,351 units trading, valued at $32,242,560 and 4 stocks closed at 52 weeks’ high in all market segments. Overall activity resulted in JSE Market Index declining 976.49 points to 98,050.05. The JSE All Jamaican Composite index lost 1,091.46 points to close at 108,532.55 and the JSE combined index fell 1,118.74 points to end at 100,321.85.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator was showing improved reading over Thursday’s close, with 12 stocks with bids higher than their last selling prices and 6 with offers that were lower, in contrast 13 to 13 at the close on Thursday.in trading, Cable & Wireless had 424,500 units changing hands at 46 cents but closed with an offer to sell 500,000 units at 45 cents, Caribbean Cement had 96,288 units trading at $5.60 after adding 10 cents,Gleaner traded at a new 52 weeks’ high of $1.53 for a 3 cents gain, after trading 10,000 shares, with the stock rising 53 percent since mid-June. Jamaica Broilers had 48,938 shares changing hands at $5.75, National Commercial Bank in
trading 2,970 shares, closed with a fall of 80 cents at $29.10, Pulse Investments closed at a new 52 weeks’ high of 80 cents with 63,000 shares trading, to gain 10 cents. Sagicor Group ended with 682,573 shares trading, at a new closing 52 weeks’ high of $13.50, Scotia Group traded at $23.21, a fall $1.44 from Thursday’s close, with 812,616 shares and Supreme Ventures closed at $4 a new 52 weeks’ closing high, with 96,275 shares trading and Jamaica Money Market Brokers 8.75% preference share traded 798,388 units, but lost 1 cent to end at $2.99.
JSE off to big July start
Scotia rose to $24.50 during trading to help push market on Wednesday
Trading ended with 12 stocks rising, 7 declining as 29 securities changed hands and ending in 12,250,815 units trading, valued at $88,380,669 and 3 stocks closed at 52 weeks’ high in all market segments. The main market closed with 6 stocks advancing to 3 falling.
The JSE Market Index declined 1,470.77 points to 98,741.92 the JSE All Jamaican Composite index gained 1,643.93 points to close at 109,305.87 but
the JSE combined index rose 1,218.10 points to end at 101,216.67 thanks to gains in the junior market offsetting declines in the main market.IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator was showing a poor reading of only 6 stocks with bids higher than their last selling prices and 7 with offers that were lower, a deterioration over the ratio of 10 to 6 on Tuesday.
In trading, Cable & Wireless had 278,936 units changing hands to close 1 cent higher at 46 cents. Caribbean Cement had only 3,410 units trading at $5.70 after shedding 30 cents, Carreras lost 79 cents in trading just 27,687 shares to close at $48.21. Desnoes and Geddes traded at $7.55 with 42,504 shares, Gleaner ended with 13,000 shares changing hands to gain 8 cents, for a 52 weeks’ high of $1.48, Grace Kennedy gained 50 cents to reach $64 while 132,737 shares changed hands. Kingston Wharves traded just 1,000 shares and shed 55 cents in closing at $6.60,
National Commercial Bank in trading 25,835 shares, to close unchanged at $29.04, Pan Jamaican Investment had 21,147 shares changing hands at $61.50, Pulse Investments traded at a new 52 weeks’ high of 70 cents after adding 15 cents with 9,000 shares trading. Proven Investments ended with 366,320 ordinary shares trading at 21.2 US cents, up from US$21, Sagicor Group gained just 1 cent with 147,788 units trading, to end at $13.01 after trading as high as $14.50, a new 52 weeks’ high and Scotia Group that traded 10,505 shares to close at $24.50 after trading at $25 and as low as $23.25 to gain $1.25.
JSE inches up on Monday
Sagicor traded at a new 52 weeks’ high on Monday
TheJSE Market Index gained 71.71 points to 96,599.90, the JSE All Jamaican Composite index rose 80.16 points to close at 106,911.66 and the JSE combined index gained 34.45 points to end at 99,265.14.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 15 stocks with bids higher than their last selling prices and 7 with offers that were lower.Stocks trading include, Cable & Wireless traded 830,959 units at 44 cents, Caribbean Cement ended with 42,304 shares changing hands at $4.99 after gaining 14 cents. Carreras closed with 47,127 stocks units trading and lost 93 cents at $48.07, Desnoes & Geddes gained 45 cents with just 1,404 units trading, to end at $8, Grace Kennedy had 3,560 shares changing hands after losing 5 cents to end at $63.90. Hardware & Lumber traded 20,000 stocks units with a loss of $1 to close at $18. Jamaica Broilers traded 250,000 shares at $5.50 after shedding 25 cents, Jamaica Stock Exchange traded 9,331 shares to close unchanged at $6.35, JMMB Group closed with 23,587 shares changing hands at $7.45 for a 15 rise, Mayberry Investments had 11,195 units changing hands at $2.88,
National Commercial Bank traded 48,527 units to close at $30, after gaining 50 cents. Pulse Investments had 306,000 shares trading at a 52 weeks’ high of 55 cents, to record a gain of 10 cents. Radio Jamaica traded 25,185 stocks units with a loss of 1 cent, to close at $3, Sagicor Group traded 776,521 shares to close at a 52 weeks’ high of $12.60, after putting on 54 cents, Scotia Group ended with 14,717 shares trading unchanged at $23.10. Seprod ended with 19,041 shares changing hands at $15.45 for a gain of 7 cents, Jamaica Money Market Brokers 7.50% preference share traded 435,206 units at $2 and Jamaica Money Market Brokers 8.75% preference share traded 324,497 units at $3.
JSE records gains as 12 stock rose
JSE closed at a new high on Thursday of $5
The JSE Market Index rose by 850.14 points to 99,251.97,
the JSE All Jamaican Composite index rose 950.23 points to close at 109,875.98 and the JSE combined index gained 909.48 points to end at 101,846.89.IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 11 stocks with bids higher than their last selling prices and 4 with offers that were lower.
After two hours of trading on Thursday there was heavy trading in a number of stocks. The big trades for the day are Caribbean Cement with 4,504,011 shares to close at $4.80, the vast majority traded at $5. Carreras traded 528,878 units to end at $50, Jamaica Broilers with 3,019,120 shares changing hands, closed at $5.50, Scotia Group traded 1,103,300 shares with the price closing unchanged at $25.50 as Scotia Investment bought most of those to trade. Supreme Ventures had 8,559,749 shares traded to end at $3.50, down 25 cents and Jamaica Money Market Brokers 7.50% preference share traded 836,000 units with a gain of 19 cents to end at $2.30.
Elsewhere in the market, Jamaica Stock Exchange traded 21,150 units to end with a gain
of 20 cents to a new closing high of $5. National Commercial Bank with 248,135 shares closed at $29.60 to end with a 5 cents gain, Pan Jamaican Investment traded 5,678 shares to close 3 cents higher at a new 52 weeks high of $60.55, Pulse Investments traded 300,000 units at 45 cents, to gain 9 cents for a new 52 weeks high. Sagicor Group had 388,585 shares trading to close at $12, Sagicor Real Estate Fund traded 418,797 shares at $7.60, up 50 cents on the day, Scotia Investments exchanged 20,028 shares to close at $26.28 and Proven Investments traded 146,255 shares at 21 US cents.
Pulse 29% increased profits
Pulse Investments netted profit of $165 million on revenues of $353 million for financial year ended June 2014 increasing 27 percent on $128 million earned in 2013. Revenues increased slightly by 2 percent from $346 million in 2013. The profit includes fair value gains on investment property amounting to $96 million versus $78 million in 2013.
The increase in profit was due to a combination of better cost management and revenue increases in some areas of operations and a fall in administrative and other expenses by 18 percent, from $211 million in 2013 to $173 million in 2014. Property rental income increased by 27 percent, from $30.9 million in 2013 to $39 million in 2014. Earnings per share increased from 46 cents to 59 cents, in 2014 compared to prior year.
Bank loan and overdraft debt declined $1.2 million from June 2013 to $26.3 million in 2014. Net cash generated by operating activities was down slightly from $27 million in prior year to $25.7 million, Cash in hand at year end stood at just $10 million.
The company’s shares were suspended last year by the Jamaica Stock Exchange for the late filing of audited financial statements as well as quarterly statements. While one can possibly see to some reasoning for the lateness of the audited accounts, there can be no excuse for the late filing of quarterly reports as they are not dependent on the audited figures.
There are a number of negatives for Pulse and its investors one is the low level of cash inflows compared with the revenue and profit, creating a problem for investors in not being able to get dividends. The real estate investment which consumed relatively large amounts of cash will need to throw off more cash going forward to make the stock more appealing to investors. The on again off again listing and suspension of listing and the very late financial reporting are very negative for the stock and reflects badly on management, including the directors.
Market eases back on Wednesday at JSE
In Wednesday’s trading on the Jamaica Stock Exchange, the prices of 6 stocks rose and 10 declined as 23 securities changed hands, resulting in 3,423,013 units trading, valued at $28,248,377.
Main Market| The JSE Market Index declined 640.32 points to 71,823.75 and the JSE All Jamaican Composite index fell 715.99 points to close at 79,020.19.
Gains| The volume and last traded prices of stocks with gains, at the end of trading in the main market are, National Commercial Bank with 82,727 units, gained 50 cents to close at $18.50, Radio Jamaica gained 7 cents to close at $1.22 while 10,500 units traded, Sagicor Group had 751,235 shares while gaining 3 cents, to close at $9.23 and Scotia Investments with 1,000 shares gained 40 cents to end at $21.40.
Firm| The stocks in the main market to close without a change in price, with volume and last traded prices are, Berger Paints with 18,336 shares at $1.60, Jamaica Money Market Brokers with 68,000 units changing hands to end at $6.95, Proven Investments US dollar ordinary share, traded 9,269 units at 17 US cents and Pulse Investments with 100,000 shares closed at 35 cents.
Declines| The volume and last traded prices of stocks with losses at the at the end of trading in the main market are, Cable & Wireless with 121,903 units for 3 cents lower at 31 cents, Caribbean Cement with 6,300 shares, lost 20 cents to end at $2.60, Carreras traded 301,057 units with a loss of 15 cents to end at $34.75, Desnoes & Geddes 20,000 units traded at the close at $4.79, with a gain of a cent, Grace Kennedy with 3,329 units lost $1 in falling to $59, Jamaica Producers had 2,343 units going through the market but shed $1.35 to $15.65, Kingston Wharves 33,750 shares was done with a 25 cents loss at $5.02, Scotia Group with 129,116 shares closed 73 cents lower at $18.77 and Seprod 7,140 shares were traded for 25 cents less at $10.50.
Preference| Jamaica Money Market Brokers 8.75% preference share traded 2,832 units at $3 and Proven Investments 8% preference share had just 1,200 units trading, at $5.
Junior Market| The JSE Junior Market Index gained 0.59 points to close at 644.44 as only 4 securities traded with 2 advancing and 1 declining.
Gains| Stocks recording gains at the end of trading in the junior market, are Jamaican Teas with 1,630,657 shares to gain 5 cents and closed at $3.30 and Lasco Distributors with 102,319 shares, gained 1 cent to $1.12.
Firm Trades| Caribbean Producers with 15,000 units traded at $2.36 and was the only stock in the junior market, that traded and closed at the same price as the day before.
Declines| C2W Music with 5,000 shares, lost 5 cents to close at 38 cents, was the sole stock declining in the junior market at the end of trading
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 6 stocks with bids higher than their last selling prices and 6 stocks with offers that were lower.
Trading picked up on JSE – 12 up 6 down
Trading picked up Wednesday’s on the Jamaica Stock Exchange with 32 securities trading, the most for several weeks. The prices of 12 stocks rose and only 6 declined as 11,330,883 shares changed hands, valued at $56,346,945.
Main Market| The JSE Market Index rose by 592.06 points to 71,804.98 and the JSE All Jamaican Composite index gained 662.02 points to close at 78,999.20.
Gains| Stocks gaining, with volume and last traded prices at the end of trading in the main market, are Berger Paints with 2,600 shares, declined by a cent to $1.66, Grace Kennedy with 593 shares, to close with a gain of $1.49 at $59, Jamaica Broilers with 3,001,000 units closed up a cent at $4.58, Jamaica Money Market Brokers 5,063 ordinary share closed with a 5 cents gain at $7, Kingston Wharves traded 6,329 shares and the price was up 2 cents to $5.02, Pulse Investments gained 5 cents to 35 cents in trading 100,000 shares, Sagicor Group had 290,622 units changing hands, at 25 cents higher at $9.40, Sagicor Real Estate Fund closed 20 cents higher with 57,536 units and ended at $6.60 and Scotia Group with 81,950 shares closed at $19 while gaining 30 cents.
Firm| The volume and last traded prices of the stocks in the main market to close without a change in price, are Cable & Wireless with 1,776 shares, closed at 39 cents, Caribbean Cement with 9,499 units closed at $3, Carreras with 25,460 units at $34.90, Gleaner 10,000 shares at $1.10, Jamaica Producers 869 units at $19, Mayberry Investments with 73,118 shares at $1.68, Pan Jamaican Investment 136,816 units at $48.50 and Seprod with 1,859 shares at $10.50.
Declines| The volume and last traded prices of stocks with losses at the end of trading in the main market, are National Commercial Bank 141,521 units at $18.16, down 4 cents, Proven Investments with 1,600 ordinary shares lost 0.0025 US cents to end at 17 US cents and Supreme Ventures with 5,000 shares falling 15 cents to $1.80.
Preference| Jamaica Money Market Brokers 8.75% preference share traded 10,000 units at $3 and Jamaica Money Market Brokers down 7.50% preference share with 55,000 units closed at $2, there was no change in the prices of these.
Junior Market| The JSE Junior Market Index declined by 4.59 points to close at 632.93 as 10 stocks traded with 3 advancing and 3 declining.
Gains| Stocks recording gains at the end of trading in the junior market, are Blue Power with 50,000 shares and gained 1 cent to $9.06, Caribbean Cream had 1,833,661 units trading 10 cents higher at 75 cents and General Accident with 350,811 units closed with a 5 cents gain at $1.33.
Firm Trades| Stocks in the junior market that traded to close at the same price as the day before, are Jamaican Teas 7,218 units at $3.25, Knutsford Express 4,786,253 shares at $5.16, Lasco Distributors 149,349 units at $1.10 and Lasco Financial with 48,265 shares at $1.
Declines| Stocks declining in the junior market at the end of trading, are Cargo Handlers with 400 shares as the price slipped 10 cents to $13.90, Caribbean Producers with just 4,952 shares, losing 5 cents in the process, to $2.30 and Lasco Manufacturing with 81,763 units at 9 cents down at 91 cents.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 6 stocks with bids higher than their last selling prices and 6 stocks with offers that were lower.
Market inches up on Friday
In Friday’s trading on the Jamaica Stock Exchange the prices of 8 stocks rose and 5 declined as 20 securities changed hands resulting in 1,746,200 shares trading valued at $24,040,907.
Main Market| The JSE Market Index gained just 56.60 points to 70,096.77 and the JSE All Jamaican Composite moved up a mere 63.30 points to end at 77,089.13.
Gains| Stocks recording gains at the end of trading in the main market are Jamaica Broilers with 1,229 units to close with a gain of 3 cents at $4.60, Pan Jamaican Investment 310,586 shares, gaining 5 cents to close at $48.06, Sagicor Group with 1,000 shares to close of 50 cents higher at $9, Sagicor Real Estate Fund 14,350 shares to close with a gain of 2 cents at $6.10, Scotia Group with 403,811 shares closed 1 cents higher at $19.
Firm| The stocks in the main market to close without a change in price are Jamaica Money Market Brokers with 15,900 shares closing at $6.70, Kingston Wharves 20,295 units changing hands to close at $5.02, Proven Investments 3,790 units to close at 18 US cents, Pulse Investments 60,000 units to close at 30 cents.
Preference| Jamaica Money Market Brokers 8.75% preference share traded 35,500 units to close at $3.03 and Proven Investments 8% preference share traded 2,000 units to close at $5.08.
Declines| The number of stocks that declined in the main market are Barita Investments with 15,976 units as the price slipped 13 cents to close at $2.20, Cable & Wireless with 480,786 shares to lose 3 cents in closing at 31 cents, Caribbean Cement 22,040 units as the price lost 20 cents to close at $2.30 and National Commercial Bank ended at $18.01 for a 2 cents fall, as 21,322 units traded.
Junior Market| The JSE Junior Market Index edged up by 11.44 points to close at 720.30 with only 5 securities traded, with 3 advancing and 1 declining.
Gains| Stocks recording gains at the end of trading in the junior market are Caribbean Producers with 1,000 units to close with a 5 cents increase at $2.70, Lasco Distributors with 48,000 units to gain 10 cents to end at $1.30 and Lasco Manufacturing with 276,875 shares as it gained 4 cents to end at $1.10.
Firm Trades| The only stock in the junior market stocks that traded to close at the same price as the previous trading day is Lasco Financial Services with 3,000 units to close at $1.
Declines| Dolphin Cove traded 8,740 units to close at $8.50 while shedding a cent, was the only stock in the junior market to decline.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with the bid higher than the last selling price and 3 stocks with offers that were lower.
