Scotia Group — Page 117

JSE Main Market stocks dive

September 21, 2020 by IC Insider.com

The Jamaica Stock Exchange Main Market ended trading on Monday with the market declining as more stocks fell than rose after investors exchanged 38 percent fewer shares than on Friday and the value of the shares traded down 87 percent.
At the close, the All Jamaican Composite Index fell by 1,321.77 points to 401,977.80, the Main Index dropped 1,224.08 points to 367,168.22 and the JSE Financial Index lost 0.70 points to settle at 96.29.
Trading ended with 41 securities changing hands compared to 39 on Friday and closed with the prices of 13 stocks rising, 18 declining and 10 remaining unchanged. The average PE Ratio of the market ended at 15.6 based on IC Insider.com forecast of 2020-21 earnings.
The market closed with an exchange of 7,551,575 shares for $27,498,792 compared to 12,180,541 units at $217,796,102 on Friday. Transjamaican Highway led trading with 51.5 percent of total volume, as 3.89 million shares changed hands, followed by Wigton Windfarm with 16 percent and 1.21 million units and Pulse Investments with 15.3 percent or 1.16 million shares.
Trading ended with an average of 184,185 units changing hands at $670,702 for each security, compared to an average of 312,322 shares at $5,584,515 on Friday. The average trade for the month to date ended at 215,594 units at $1,422,062 for each security, in contrast to 217,776 units at $1,474,275. Trading month to date compares adversely to, August with an average of 497,441 units at $3,201,918.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows eight stocks with bids higher than their last selling prices and five with lower offers.
At the close of the market, Barita Investments rose 60 cents to $59.60, with 3,098 shares passing through the market, Caribbean Cement fell $4.05 to end at $45.10, in exchanging 23,510 stock units, Eppley climbed $1 in closing at a 52 weeks’ high of $25, with investors swapping just one stock unit. First Rock Capital shed 55 cents to close at $12.45 trading 610 shares, Grace Kennedy rose 99 cents to settle at $57.99, with an exchange of 16,327 stocks. Jamaica Producers Group gained 50 cents to close at $20.50, in trading 1,017 units, Jamaica Stock Exchange shed 75 cents, finishing at $18 after exchanging 92,507 shares, JMMB Group closed at $29.06, with a loss of 54 cents after transferring 28,790 shares. Kingston Wharves advanced $3 to $49, with investors swapping 111 units, MPC Caribbean Clean Energy declined by $5 to end at $150, after 100 units crossed the exchange, NCB Financial Group climbed $3 to $135, with 8,944 stock units crossing the market. Proven Investments lost $1.40 in trading 7,846 stock units at $37.10, Scotia Group declined by $3.99 to $46.01, after exchanging 97,651 shares, Supreme Ventures fell 45 cents to $13.55 trading 14,448 stock units. Sygnus Credit Investments gained 99 cents in ending at $18.50, with 11,502 stock units clearing the market and Wisynco Group shed 50 cents to close at $16, in exchanging 54,955 shares.
In the preference segment of the Main Market, Eppley 8.75% preference share climbed $1.12 to close at a 52 weeks’ high of $8.59 in an exchange of 115 units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: 138 Student Living, Barita Investments, Berger Paints, Caribbean Cement, Carreras, Community & Workers Co-operative Credit Union, Daily Trading, Emerging markets, Eppley, First Rock Capital, Grace Kennedy, Jamaica Broilers, Jamaica Producers, Jamaica Stock Exchange, Jamaican stocks, JMMB Group, Key Insurance, Kingston Wharves, Mayberry Investments, NCB Financial, PANJAM Investment, Portland JSX, Proven Investments, QWI Investments, Radio Jamaica, Sagicor Group, Sagicor Real Estate Fund, Sagicor Select Fund, Salada Foods, Scotia Group, Seprod, Stanley Motta, Sterling Investments, Supreme Ventures, Sygnus Credit, Trading Activity, Transjamaican Highway, Victoria Mutual Investments, Wigton Windfarm, Wisynco Group

Another quiet week for IC TOP 10

September 21, 2020 by IC Insider.com

For a second consecutive week, there were no changes in the companies on the IC TOP 10 listings, with the markets going sideways and little or no significant price moving news.

Barita public stock offer pulled money away from other JSE stocks.

The Jamaica Stock Exchange market activity was negatively affected by funds diverted away from the as investors moved money into the successful Barita Investments issue of new shares. The Issue closed on Wednesday gone and was upsized to $13.5 billion, resulting in a more than doubling of the issued shares from $10.88 billion to $24.38 billion and the overall equity capital to $28.74 billion.
The past week that saw the local market trading in a narrow range, with the Junior Market closing slightly down for the week after ending the previous week at the highest point since August 28 and the Main Market had the highest weekly close since the end of August.
The top three stocks in each market saw no change in ranking, leaving the top three Junior Market stocks, with the potential to gain between 292 to 695 percent by March 2021. Caribbean Producers heads the list, followed by Lasco Financial and Elite Diagnostic. The focus on all three is on the 2021 fiscal year results projected to show recovery from the 2020 financial year final numbers. The top three Main Market stocks, with expected gains of 204 to 228 percent, are Radio Jamaica, followed by Berger Paints, with the price rising 7 percent during the week and JMMB Group.
This week’s focus – Tropical Battery issue for 325 million ordinary shares at $1 each of with up to 187.5 million units reserved for priority applications, opens Tuesday, September 22, with the scheduled closing of September 30, subject to the right of the Company to close it earlier. With earnings per share around 7.7 cents, the stock is priced around a PE ratio of 13 times 2020 earnings, leaving little or no room for short term gains as it is priced 19 percent above the market average.
The targeted average PE ratio of the market is 20 based on the profits of companies reporting full year’s results, from now to the second quarter in 2021. Both the Junior and Main markets are currently trading well below this level, indicating the potential gains ahead. The JSE Main Market ended the week, with an overall PE of 15.3 and the Junior Market 11, based on IC Insider.com’s projected 2020-21 earnings. The average PE ratio of the Junior Market has been slowly rising, with better profit opportunities than the Main Market and narrowing the gap. The PE ratio for the Junior Market Top 10 stocks average a mere six at just 55 percent to the average of the overall Junior Market. The Main Market TOP 10 stocks trade at a PE of 8.2 or 54 percent of the PE of the overall market.
The average projected gain for the Junior Market IC TOP 10 stocks is 280 percent, and 151 percent for the JSE Main Market, based on 2020-21 earnings, indicates potentially more significant gains in the Junior Market than in the Main Market.
IC TOP 10 stocks are likely to deliver the best returns up to March 2021 and ranked in order of potential gains, based on possible gain for each Company, taking into account the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Revisions to earnings per share are ongoing, based on receipt of new information.

Persons who compiled this report may have an interest in securities commented on in this report.

Filed Under: Buy Rated Tagged With: Access Financial, Berger Paints, Caribbean Assurance Brokers, Caribbean Producers, Carreras, Daily Trading, Emerging markets, General Accident, Grace Kennedy, Jamaica Broilers, Jamaican Stock Exchange, Jamaican stocks, Jamaican Teas, junior market, Laco Distributors, Lasco Financial, Lumber Depot, Medical Disposables, Radio Jamaica, Scotia Group, Stationery and Office Supplies, Stocks to Watch, Sygnus Credit Investments, TOP 10 stocks, Trading Activity, Victoria Mutual Investments

JSE Main Market ends week with gains

September 18, 2020 by IC Insider.com

The Jamaica Stock Exchange Main Market ended trading on Friday, with the market rising after an almost equal number of stocks rising and falling after an exchange of 95 percent more shares and 437 percent more value than on Thursday.
At the close, the All Jamaican Composite Index carved out a gain of 2,653.46 points to 403,299.57, the Main Index increased 2,608.75 points to 368,392.30 and the JSE Financial Index gained 1.17 points to settle at 96.99.
Trading ended with 39 securities changing hands compared to 43 on Thursday and closed with the prices of 15 stocks rising, 16 declining and eight remaining unchanged. The average PE Ratio of the market ended at 15.6 based on IC Insider.com forecast of 2020-21 earnings.
The market closed with an exchange of 12,180,541 shares for $217,796,102 compared to 6,254,690 units at $40,537,477 on Thursday. Kingston Wharves led trading with 32.9 percent of total volume equaling 4 million shares, followed by Pulse Investments with 21.2 percent for 2.58 million units, Wigton Windfarm with 16.1 percent market share for 1.96 million units and Transjamaican Highway with 1.86 million units changing hands for 15.3 percent of the day’s volume.
Trading closed with an average of 312,322 units changing hands at $5,584,515 for each security compared to an average of 145,458 shares at $942,732 on Thursday. The average trade for the month to date ended at 217,776 units at $1,474,275 for each security, in contrast to 211.084 units at $1,183,350. Trading month to date compares adversely to August’s average of 497,441 units at $3,201,918.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows eight stocks ending with bids higher than their last selling prices and four with lower offers.
At the close of the market, Barita Investments shed 99 cents to end at $59, with investors swapping 13,701 shares, Caribbean Cement climbed $1.65 to $49.15, after exchanging 313 units, Eppley Caribbean Property Fund jumped $5.48 to settle at an all-time high of $57.48, in an exchange of 156 stock units. First Rock Capital closed at $13, after picking up 55 cents and trading 6,461 stocks, Jamaica Broilers Group gained 50 cents to settle at $26, with 13,590 stock units clearing the market, JMMB Group rose 58 cents to $29.60, in trading 4,656 stock units. Key Insurance climbed 75 cents to $8.48 after exchanging 73,209 shares. Kingston Wharves declined $4 in closing at $46, after an exchange of 4,004,829 shares, Mayberry Investments lost 43 cents to finish at $5.17, with 16,500 stock units passing through the market, NCB Financial Group fell to $132, after losing $1 and trading 42,183 stock units. 138 Student Living gained 49 cents to close at $5, with an exchange of 30 shares, Palace Amusement dropped $125 to end at $1,495 in an exchange of 13 units, Proven Investments lost 64 cents to settle at $38.50, in transferring 1,631 units, Sagicor Group lost 40 cents to close at $44.30, with investors swapping 35,333 shares. Scotia Group advanced by $3.75, ending at $50 while exchanging 47,493 shares, Seprod lost 89 cents to close at $55, with investors switching ownership of 2,229 stock units and Wisynco Group rose $1.34, in ending at $16.50, with 25,039 stock units changing hands.
In the preference segment of the market, Community & Workers Credit Union gained 43 cents to end at $1.98 in trading just five units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: 138 Student Living, Barita Investments, Caribbean Cement, Carreras, Community & Workers Credit Union, Daily Trading, Emerging markets, Eppley, Eppley Caribbean Property Fund, First Rock Capital, Grace Kennedy, Jamaica Broilers, Jamaica Stock Exchange, Jamaican stocks, JMMB Group, Key Insurance, Kingston Wharves, Mayberry Investments, NCB Financial, PANJAM Investment, Proven Investments, QWI Investments, Radio Jamaica, Sagicor Group, Sagicor Real Estate Fund, Sagicor Select Fund, Scotia Group, Seprod, Stanley Motta, Sterling Investments, Supreme Ventures, Sygnus Credit, Trading Activity, Transjamaican Highway, Victoria Mutual Investments, Wigton Windfarm, Wisynco Group

JSE Main Market closes higher Thursday

September 17, 2020 by IC Insider.com

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The Jamaica Stock Exchange Main Market ended trading on Thursday with the market rising after slightly more stocks rose than declined after an exchange of 30 percent fewer shares than on Wednesday.
At the close, the All Jamaican Composite Index gained 1,124.89 points to 400,646.11; the Main Index increased 1,078.27 points to 365,783.55 and the JSE Financial Index shed 0.37 points to settle at 95.82.
Trading ended with 43 securities changing hands compared to 44 on Wednesday and closed with the prices of 18 stocks rising,16 declining and nine remaining unchanged. The average PE Ratio of the market ended at 15.3 based on IC Insider.com forecast of 2020-21 earnings.
The market closed with an exchange of 6,254,690 shares for $40,537,477 compared to 8,881,013 units at $39,150,303 on Wednesday.
On another day of low volume passing through the market, Pulse Investments carved out 32.7 percent of total volume, with 2.05 million shares, followed by Transjamaican Highway for 15.3 percent, with 957,355 units and Wisynco Group, with 12.9 percent, amounting to 808,615 shares.
Trading ended with an average of 145,458 units changing hands at $942,732 for each security compared to an average of 201,841 shares at $889,780 on Wednesday. The average trade for the month to date ended at 211,084 units at $1,183,350 for each security, in contrast to 216,639 units at $1,203,718. Trading month to date compares adversely to August’s 497,441 units at $3,201,918.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows 13 stocks ending with bids higher than their last selling prices and five with lower offers.
At the close of the market, 138 Student Living shed 49 cents to close at $4.51 in trading 41 shares, Barita Investments advanced $1.49 to $59.99, with 2,150 units passing through the market, Berger Paints gained 85 cents to close at $12.70, in trading 19,402 stock units. Caribbean Cement climbed $3.90 to $47.50, exchanging 6,446 units, Eppley closed at $24, with a loss of 85 cents 1,900 units. Eppley Caribbean Property Fund rose $2 in closing at a record high of $52, transferring 10,028 shares, First Rock Capital fell 75 cents to $12.45, with the swapping of 8,821 stock units, Jamaica Broilers gained 60 cents to end at $25.50 trading 7,334 units. Jamaica Stock Exchange gained 60 cents to finish at $19, exchanging 5,121 units, Palace Amusement dropped $80 to close at $1,620, with investors switching ownership of just seven stock units, Proven Investments advanced $2.97 to $39.14 and clearing the market with 6,561 units. Salada Foods climbed $2.98 to $27.99, in an exchange of 56 stock units, Scotia Group declined $1.25 to settle at $46.25, with 101,459 shares changing hands and Wisynco Group dropped $1.19 to end at $15.16 trading 808,615 shares.
In the preference segment of the market, Community & Workers Credit Union lost 44 cents, ending at an all-time low of $1.55 with an exchange of 43,209 shares.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: 138 Student Living, Barita Investments, Berger Paints, Caribbean Cement, Carreras, Community & Workers Credit Union, Daily Trading, Emerging markets, Eppley, Eppley Caribbean Property Fund, First Rock Capital, Grace Kennedy, Jamaica Broilers, Jamaica Producers, Jamaica Stock Exchange, Jamaican stocks, JMMB Group, Key Insurance, Kingston Properties, Kingston Wharves, NCB Financial, PANJAM Investment, Proven Investments, QWI Investments, Radio Jamaica, Sagicor Group, Sagicor Real Estate Fund, Sagicor Select Fund, Salada Foods, Scotia Group, Seprod, Sterling Investments, Supreme Ventures, Sygnus Credit, Trading Activity, Transjamaican Highway, Victoria Mutual Investments, Wigton Windfarm, Wisynco Group

JSE Main market in a struggle

September 16, 2020 by IC Insider.com

The Jamaica Stock Exchange Main Market ended trading on Wednesday with the market declining after four stocks fell for three rising after an exchange of 78 percent more shares than on Tuesday, with similar values.
At the close, the All Jamaican Composite Index declined by 3,653.98 points to 399,521.22. The Main Index fell by 3,312.47 points to 364,705.28, the JSE Financial Index shed 1.02 points to settle at 96.19.
Trading ended with 44 securities changing hands compared to 42 on Tuesday and closed with the prices of 15 stocks rising, 20 declining and nine remaining unchanged. The average PE Ratio of the market ended at 15.2 based on IC Insider.com forecast of 2020-21 earnings.
The market closed with an exchange of 8,881,013 shares for $39,150,303 compared to 4,987,272 units at $39,141,028 on Tuesday. Transjamaican Highway led trading with 32.2 percent of total volume for 2.86 million shares, followed by Sagicor Select Financial Fund with 23.1 percent and 2.05 million units and Wigton Windfarm with 17.5 percent and 1.55 million shares.
Trading ended with an average of 201,841 units changing hands at $889,780 for each security compared to an average of 118,745 shares at $931,929 on Tuesday. The average trade for the month to date ended at 216,639
units at $1,203,718 for each security, in contrast to 218,043 units at $1,233,488. Trading month to date compares adversely to August’s average of 497,441 units at $3,201,918.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows seven stocks ending with bids higher than their last selling prices and three with lower offers.
At the close of the market, Barita Investments gained $1.50 and closed at $58.50, with an exchange of 16,714 shares, Berger Paints gained 83 cents in ending at $11.85 with investors swapping 6,605 units, Caribbean Cement declined by $4.49 to settle at $43.60,
in trading 2,189 stock units. Eppley rose 85 cents to end at $24.85, in exchanging 100 units, Eppley Caribbean Property Fund climbed 50 cents to $50, with 530 units crossing the market, Grace Kennedy rose $1.20 in closing at $57 and trading 28,405 shares. Jamaica Broilers settled at $24.90, after gaining 30 cents in the transfer of 3,416 units, Jamaica Stock Exchange closed 75 cents higher at $18.40, with 4,068 stock units traded, Kingston Properties shed $1.10 to settle at $6.30 with investors swapping 50 units. Kingston Wharves jumped $6.90 to settle at $49.90 after 350 units crossed the market, MPC Caribbean Clean Energy dropped $8 to $155, in an exchange of 321 units, Portland JSX lost 48 cents in closing at $7.02 and trading 2,400 stock units. Proven Investments fell $1.82 to $36.17, with investors swapping 3,366 stock units, Salada Foods declined by $3.74 to $25.01, with an exchange of 6,979 stock units, Scotia Group shed 50 cents to settle at $47.50, in transferring 117,147 shares. Seprod rose to $55.89, after climbing $1.89 and exchanging 22,839 shares, Supreme Ventures gained 65 cents to close at $14, trading 24,670 shares and Sygnus Credit Investments rose 47 cents to $17.97, with 26,303 shares changing hands.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: 138 Student Living, Barita Investments, Berger Paints, Caribbean Cement, Carreras, Community & Workers Credit Union, Daily Trading, Emerging markets, Eppley, Eppley Caribbean Property Fund, First Rock Capital, Grace Kennedy, Jamaica Broilers, Jamaica Producers, Jamaica Stock Exchange, Jamaican stocks, JMMB Group, Key Insurance, Kingston Properties, Kingston Wharves, Mayberry Investments, Mayberry Jamaica Equities, NCB Financial, PANJAM Investment, Portland JSX, Proven Investments, QWI Investments, Radio Jamaica, Sagicor Group, Sagicor Real Estate Fund, Sagicor Select Fund, Salada Foods, Scotia Group, Seprod, Stanley Motta, Sterling Investments, Supreme Ventures, Sygnus Credit, Trading Activity, Transjamaican Highway, Victoria Mutual Investments, Wigton Windfarm, Wisynco Group

JSE majors in late session fall

September 15, 2020 by IC Insider.com

The Jamaica Stock Exchange Main Market ended trading on Tuesday with the market declining after more stocks fell, with an exchange of 32 percent fewer shares than on Monday with the value plummeting 48 percent.

Ciboney traded at a new 52 weeks’ high of 17 cents.

At the close, the All Jamaican Composite Index declined by 697.39 points to 403,175.20, after it posted gains for most of the day. The Main Index fell by 631.70 points to 368,017.75, but the JSE Financial Index inched 0.06 points higher to settle at 97.21.
The market closed on Tuesday with the same number of stocks changing hands on Monday, with 42 securities and closed with the prices of 13 stocks rising, 24 declining and five remaining unchanged as Ciboney closed at a 52 weeks’ high at 17 cents. The average PE Ratio of the market ended at 15.3 based on IC Insider.com forecast of 2020-21 earnings.
The market closed with 4,987,272 shares trading for $39,141,028 compared to 7,365,263 units at $74,596,143 on Monday. Wigton Windfarm led trading with 42.4 percent of total volume, with 2.11 million shares followed by Transjamaican Highway with 10.6 percent or 528,278 units and Jamaica Stock Exchange with 8 percent and 398,445 units.
Trading ended with an average of 118,745 units at $931,929 for each security, in comparison to an average of 175,363 shares at $1,776,099 on Monday. The average trade for the month to date ended at 218,043 units at $1,233,488 for each security, in contrast to 227,925 units at $1,263,501. Trading month to date compares adversely to August’s average of 497,441 units at $3,201,918.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows eight stocks ending with bids higher than their last selling prices and four with lower offers.
At the close of the market, Barita Investments lost 50 cents in closing at $57, finishing with 2,363 units changing hands ahead of the closing day for their Additional Public offer. Caribbean Cement fell to $48.09, with a loss of $1.30 after exchanging 1,727 units, Eppley shed 95 cents to settle at $24, with investors switching ownership of 5,589 stock units. Grace Kennedy dropped $1.12 to end at $55.80 after 57,594 shares crossed the market, Jamaica Producers slid 90 cents to $20 trading 15,823 stock units, Jamaica Stock Exchange dropped $2.34, to $17.65 with an exchange of 398,445 shares. Kingston Wharves tumbled to $43, after losing $4.50 with 22,458 stock units changing hands, NCB Financial closed at $133.02, declining by $1.98 after investors swapped 15,856 stock units, Palace Amusement climbed a further $110 after surging by $290 on Monday, to close at $1,700 in exchange for 201 units. Portland JSX shed $1 to close at $7.50 with investors switching ownership of 95,828 shares, Proven Investments climbed $1.49 to $37.99, trading 2,303 units, Scotia Group fell to $48, shedding $2.99 with 79,136 shares crossing the exchange and Seprod declined by $1.50 to settle at $54 trading 11,908 stock units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: 138 Student Living, Barita Investments, Berger Paints, Caribbean Cement, Carreras, Community & Workers Credit Union, Daily Trading, Emerging markets, Eppley, Eppley Caribbean Property Fund, First Rock Capital, Grace Kennedy, Jamaica Broilers, Jamaica Producers, Jamaica Stock Exchange, Jamaican stocks, JMMB Group, Key Insurance, Kingston Properties, Kingston Wharves, Mayberry Jamaica Equities, NCB Financial, PANJAM Investment, Portland JSX, Proven Investments, QWI Investments, Radio Jamaica, Sagicor Group, Sagicor Real Estate Fund, Sagicor Select Fund, Salada Foods, Scotia Group, Seprod, Sterling Investments, Supreme Ventures, Sygnus Credit, Trading Activity, Transjamaican Highway, Victoria Mutual Investments, Wigton Windfarm, Wisynco Group

Gains for JSE main Market

September 14, 2020 by IC Insider.com

The Jamaica Stock Exchange Main Market ended trading on Monday with the market rising after fewer stocks fell after investors exchanged 71 percent fewer shares than on Friday but with a value that was 44 percent higher.
At the close, the All Jamaican Composite Index advanced by 1,234.87 points to 403,872.59, the Main Index rose 1,122.68 points to 368,649.45 and the JSE Financial Index gained 0.01 point to close at 97.15.
Trading ended with 42 securities changing hands compared to 43 on Friday and closed with the prices of 18 stocks rising, 15 declining and nine remaining unchanged. The average PE Ratio of the market ended at 15.6 based on IC Insider.com forecast of 2020-21 earnings.
The market closed with an exchange of 7,365,263 shares for $74,596,143 compared to 25,606,369 units at $51,769,010 on Friday.
Transjamaican Highway led trading with 32.7 percent of the day’s volume or 2.41 million shares followed by Wisynco Group with 18.9 percent or 1.39 million units and Wigton Windfarm with 9 percent accounting for 666,451 shares.
Trading ended with an average of 175,363 units changing hands at $1,776,099 for each security, in comparison to an average of 595,497 shares at $1,203,930 on Friday. The average trade for the month to date ended at 227,925 units at $1,263,501 for each security, in contrast to 233,735 units at $1,206,85. Trading month to date compares adversely to August with an average of 497,441 units at $3,201,918.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows 8 stocks ended with bids higher than their last selling prices and five with lower offers.
At the close of the market, Berger Paints shed 85 cents, ending at $11 in exchanging 3,698 shares, Caribbean Cement gained 49 cents to close at $49.39 trading 2,230 stock units, Eppley finished at a record closing high of $24.95, with gains of 45 cents after investors swapped 688 units. Eppley Caribbean Property Fund lost 43 cents to end at $49.56, with 2,900 stock units changing hands, First Rock Capital advanced by $1.50 to settle at $13.50, in transferring 4,160 shares, Jamaica Stock Exchange rose $1.22 to $19.99, after exchanging 150 units. JMMB Group shed 44 cents trading 645,107 shares and closed at $29.06, Key Insurance lost 55 cents to end at $7.95 exchanging 31,426 shares. Kingston Wharves closed at $47.50, with gains of 50 cents and 101 units crossing the exchange, Mayberry Investments gained 47 cents in ending at $5.60 and trading 884 units, Mayberry Jamaican Equities settled at $8.49, after picking up 97 cents, with 250 units clearing the market. Palace Amusement surged $290 to end at $1,590, with an exchange of 88 units, after the company announced the opening of a drive-in cinema in New Kingston. Salada Foods jumped $3.75 to $28.75, with investors switching ownership of 6,979 stock units, Scotia Group gained 49 cents to end at $50.99 as investors traded 61,286 shares and Supreme Ventures shed 40 cents to end at $13.60, in trading 66,059 shares.
In the preference segment of the market, JMMB Group 7.25% finished at $1.20, with a loss of 33 cents transferring 119,522 shares,

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: 138 Student Living, Barita Investments, Berger Paints, Caribbean Cement, Carreras, Community & Workers Credit Union, Daily Trading, Emerging markets, Eppley, Eppley Caribbean Property Fund, First Rock Capital, Grace Kennedy, Jamaica Broilers, Jamaica Producers, Jamaica Stock Exchange, Jamaican stocks, JMMB Group, Key Insurance, Kingston Properties, Kingston Wharves, Mayberry Investments, Mayberry Jamaica Equities, NCB Financial, PANJAM Investment, Portland JSX, Proven Investments, QWI Investments, Radio Jamaica, Sagicor Group, Sagicor Real Estate Fund, Sagicor Select Fund, Salada Foods, Scotia Group, Seprod, Supreme Ventures, Sygnus Credit, Trading Activity, Transjamaican Highway, Victoria Mutual Investments, Wigton Windfarm, Wisynco Group

Scotia jacks up credit loss by 344%

September 13, 2020 by IC Insider.com

In the July quarter, Scotia Group jacked-up expected credit loss provision by 344 percent from $582 million in the 2019 period to $2.6 billion due to the impact of the 2020 COVID 19 virus has on several businesses in Jamaica and, notably, the banking sector, resulting from lower business activity since March.

Scotia Group increased loan loss provision by 344% in the July quarter.

The big July quarter, the increase comes after the banking group hiked the provision by a hefty 264 percent to $1.77 billion in the April quarter, from $487 million in the April 2019 quarter and $895 million in the January 2020 period.
The Group’s total expected credit loss provision for loans in July 2020 amounts to $8.1 billion, while nonperforming loans amount to $4.9 billion compared to $3.8 billion last year and $5 billion at the end of April.
Loans advanced to customers stood at $221 billion at the end of July, a growth of 12 percent year over year, but declined modestly from $223 billion at the end of April, the result of the increased credit loss provisioning and no new net loans granted.
While the bank increased the provision for expected credit loss sharply in the quarter, the stabilization of nonperforming loans at the April levels may be an indication that there may be no need for heavy provisioning in the next few quarters. If the nonperforming loans hold around current levels, it could help in returning profit to more normal levels, compared to a profit after tax that declined sharply by 63 percent for the July quarter to $1.55 billion, from $4.2 billion in 2019.
At the close of trading on the Jamaica Stock Exchange, Main Market to stock gained 50 cents in ending at $50.50.

Filed Under: Buy Rated, Company News, Company Results Tagged With: Bank loan losses, Bank of Nova Scotia Jamaica, Daily Trading, Emerging market stock, Jamaica Stock Exchange, Jamaican stocks, Scotia Group

Quiet week for IC TOP 10

September 12, 2020 by IC Insider.com

The past week was quiet for IC TOP 10 listings, resulting in no change to the list at the end of the week that saw the local market trading in a narrow band and the Junior Market closing at the highest point since August 28 and the Main Market since the end of August.

Scotiabank profit drops in Jamaica.

The top three stocks in each market saw no change in ranking, leaving the top three Junior Market stocks, with the potential to gain between 292 to 695 percent by March 2021. Caribbean Producers heads the list, followed by Lasco Financial and Elite Diagnostic. The focus on all three is on the 2021 fiscal year results, projected to show recovery from the 2020 financial year final numbers. The top three Main Market stocks, with expected gains of 205 to 264 percent, are Berger Paints followed by Radio Jamaica and JMMB Group. All three suffered declines during the week.
This week’s focus: Scotia Group reported a net income of $5.56 billion for the nine months ending in July, compared to $9.79 billion for the corresponding 2019 period. Overall, loans advanced, grew 12 percent mainly due to the strong performance of the Commercial Banking unit, increasing 24 percent versus the prior year. Retail loan grew 5 percent year over year, driven by strong mortgage growth of 16 percent. Total revenues, excluding expected credit losses for the nine months, ended July at $32.1 billion, a reduction of $1.7 billion or 5.1 percent, compared to 2019. For the July 2020 quarter, gross revenues fell from $12.4 billion to $11 billion, with non-interest income contributing $1.1 billion to the decline. Administrative and other expenses were essentially flat at $5.8 billion year over year, a $2 billion increase in provision for expected loan loss helped push profit down in the quarter, to $1.55 billion from $4.2 billion in 2019. Notably, while loans amounting to $221 billion at the end of July grew 12 percent year over year, loans declined modestly from $223 billion at the end of April, the result of the increased credit loss provisioning.
The targeted average PE ratio of the market is 20 based on the profits of companies reporting full year’s results, from now to the second quarter in 2021. Both the Junior and Main markets are currently trading well below this level, an indication of the potential gains ahead. The JSE Main Market ended the week, with an overall PE of 15.1 and the Junior Market 10.9, based on IC Insider.com’s projected 2020-21 earnings. The average PE ratio of the Junior Market has been slowly rising, with better profit opportunities than the Main Market and narrowing the gap. The PE ratio for the Junior Market Top 10 stocks average a mere 6 at just 55 percent to the average of the overall Junior Market. The Main Market TOP 10 stocks trade at a PE of 8.2 or 54 percent of the PE of the overall market.
The average projected gain for the Junior Market IC TOP 10 stocks is 279 percent, and 153 percent for the JSE Main Market, based on 2020-21 earnings, an indication of potentially, greater gains in the Junior Market than in the Main Market.
IC TOP 10 stocks are likely to deliver the best returns up to March 2021 and ranked in order of potential gains, based on likely gain for each company, taking into account the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Revisions to earnings per share are ongoing, based on receipt of new information.

Persons who compiled this report may have an interest in securities commented on in this report.

JSE Main Market at September highs

September 11, 2020 by IC Insider.com

The Jamaica Stock Exchange Main Market ended trading on Friday, with the market rising after an equal number of stocks advanced and declined after an exchange of 143 percent more shares, with 36 percent more value than on Thursday, while closing the week at the highest point for September.
At the close, the All Jamaican Composite Index climbed 1,015.97 points to 402,637.72, the Main Index gained 909.86 points to 367,526.77 and the JSE Financial Index added 0.84 points to settle at 97.14.
Trading ended with 43 securities changing hands, similar to Thursday, and closed with the prices of 16 stocks rising, 16 declining and 11 remaining unchanged. The average PE Ratio of the market ended at 15.4 based on IC Insider.com forecast of 2020-21 earnings.
The market closed with an exchange of 25,606,369 shares for $51,769,010 compared to 10,530,333 units at $38,041,905 on Thursday. Wigton Windfarm led the market with 86 percent of total volume in the trading of 22.05 million shares, followed by Transjamaican Highway with 6.2 percent and 1.58 million units and Sagicor Select Financial Fund with 512,447 units for 2 percent market share.
Trading ended with an average of 95,497 units at $1,203,930 for each security, in comparison to an average of 244,891 shares at $884,695 on Thursday. The average trade for the month to date ended at 233,735 units at $1,206,845 for each security, in contrast to 187,575 units at $1,207,217. Trading month to date compares adversely to August’s average of 497,441 units at $3,201,918.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows eight stocks ending with bids higher than their last selling prices and two with lower offers.
At the close of the market, Berger Paints climbed $1.19 to $11.85, in trading just 50 units, Eppley gained 50 cents to close at $24.50, with 1,200 units crossing the market, Eppley Caribbean Property Fund rose 99 cents to $49.99 after exchanging 5,350 stock units. First Rock Capital fell $1.05 to settle at $12, with 12,574 shares changing hands, Jamaica Broilers Group shed 36 cents to end at $24.60, after 14,625 stock units crossed the market, Kingston Wharves rose $1 to $47, in trading 377 units. Mayberry Jamaican Equities lost 55 cents with an exchange of 10,384 stock units to end at $7.52, Portland JSX advanced $1.48, in ending at $8.50 with investors switching ownership of 400 stock units, Proven Investments finished at $36.35, with gains of 4 cents in trading 7,476 stock units. Salada Foods declined by $2.99 to close at $25 in transferring 10,000 stock units, Scotia Group gained 50 cents in closing at $50.50, with 124,036 shares passing through the market, Seprod rose $2 to $55.50 after the transfer of 24,995 stock units. Supreme Ventures picked up 49 cents to settle at $14, with investors switching ownership of 165,785 shares and Wisynco Group shed 65 cents to end at $16.35, in exchanging 40,884 shares.