Scotia stars again

September 6, 2017 by

Jacqueline Sharp

Scotia Group remains the star performer on the Jamaica Stock Exchange and is almost the sole stock resulting in the main market hitting new record highs in the past two weeks.
Although the stock traded at $57.99 with a gain of nearly $3 and the advance decline ratio was strongly positive, the market indices slipped at the close on Wednesday.
In wider market activity, the volume of stocks changing hands and their last traded price are: Barita Investments with a loss of 50 cents in closing at $9 with just 350 shares, Berger Paints closing 34 cents higher to $12.50 with 56,008 shares. Cable and Wireless gained 1 cent, to end at $1.06 with 14,000 shares, Caribbean Cement with a gains of $3.55, closed at $30.05 with 51,576 stock units,Carreras closing at $108 with 65,566 shares, Grace Kennedy added 90 cents and closed at $42.90 with 273,004 shares. Jamaica Broilers rose 79 cents, to $18.50 with 2,900 shares, Jamaica Producers ended with a loss of 10 cents, at $15.70 with 630 shares, Jamaica Stock Exchange closed at $6.35 with 4,292 shares and JMMB Group traded 90 cents higher to $21.90 with 92,900 shares. Kingston Wharves gained 47 cents to close at $30 with 12,645 shares, Mayberry Investments closed at $4.85 with 101,445 shares, NCB Financial Group closed $2.50 higher to $91 with 51,608 shares, 138 Student Living closed at $4.75 with 1,216 shares, 1834 Investments gained 6 cents to close at $1.40 with 1,898 shares. PanJam Investment added 44 cents to close at $33.47 with 10,550 stock units, Radio Jamaica rose 7 cents to $1.29, with 5,719 shares, Sagicor Group closed at $32.86 trading 927,951 units, Salada Foods closed at $8.60 with 100,500 shares, Scotia Group traded $2.99 higher to close at a new high of $57.99 with 153,874 shares, Scotia Investments exchanged 2,025 shares at $35.50, Seprod closed at $30.50 with 2,850 shares, Sterling Investments with a loss of 50 cents, closed at $12.30 with 998,453 shares, Supreme Ventures closed at $12, losing 65 cents with 5,514 shares changing hands. erotic job escorts near me. Margaritaville Turks US ordinary shares closed at 30 US cents with 3,970 units traded, Proven Investments US ordinary share closed at 23.99 US cents, down from 24 cents, with 1,050,020 units, Productive Business Solutions US ordinary shares closed at 60 US cents with 900 units and Jamaica Money Market Brokers 7.5% preference share ended at $2 with 242,935 units trading.

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Scotia jumps to record close of $57.99 – Wednesday

September 6, 2017 by

Scotia Group shares jumped sharply to end at a record $57.99 on Wednesday.

Fresh from the announcement that Scotia Group is changing their chief executive officer, the stock continued on its merry way and jumped sharply at the start of trading on Wednesday to a new high, before ending trading at another record close.
Scotia ended the day trading 153,874 shares with the price climbing $2.99 to a record close of $57.99.
A the close of trading the All Jamaica Composite Index declined 790.64 points to close at 290,539.74, the JSE Market Index fell 720.36 points to 264,714.57 and the JSE US dollar market index declined 4.57 points to 182.61. At the close of trading, 25 securities changed hands in the main market with 3 trading in the US dollar market, leading to 12 stocks advancing and 5 declining. The main market ended with 3,180,409 units valued at $81,180,237 changing hands compared to 3,062,518 units valued at $54,223,292 at the close on Tuesday. The US dollar market accounted for 1,054,890 units valued at US$243,418 bringing the total of all trades to J$112,337,685.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 4 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 127,216 units valued at $3,247,209 for each security traded compared to an average of 122,501 units valued at $2,168,932. The average volume and value for the month to date ended at $173,624 units with an average value of $3,492,967 compared with an average of 189,094 units with an average value of $3,574,886 on the previous trading day. The average volume and value for August ended at 184,094 units with an average value of $4,336,090.

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JSE blast away 290,000 to a record 291,330

September 5, 2017 by

The All Jamaica index of main market stocks of the Jamaica Stock Exchange blast through the critical resistance level of 290,000 during the morning session on Tuesday and held above it at the close to end at a record close as Scotia Group jumped $3 to a new high.
The All Jamaica Composite Index jumped 3,269.07 points to end at a record close of 291,330.38, the JSE Market Index surged 2,978.49 points to a record close of 265,434.95 and the JSE US dollar market index declined 11.04 points to 187.18.
At the close of trading, 25 securities changed hands in the main market with 2 trading in the US dollar market, leading to 10 stocks advancing and 12 declining. The main market ended with 3,062,518 units valued at $54,223,292 changing hands compared to 9,375,844 units valued at $169,350,761 at the close on Monday. Trading in the US dollar market accounted for 86,450 units valued at US$20,960 bringing the total of all trades to J $56,927,184.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 5 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 122,501 units valued at $2,168,932 for each security traded compared to an average of 309,660 units valued at $7,056,282. The average volume and value for the month to date ended at 189,094 units with an average value of $3,574,886 compared with an average of 222,390 units with an average value of $4,277,863 on the previous trading day. The average volume and value for August ended at 184,094 units with an average value of $4,336,090.

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Sharp out Noel in at Scotia Jamaica

September 5, 2017 by

Change at Scotia Group top slot.

Scotia Group (SGJL) announced that Jackie Sharp, President and Chief Executive Officer and Head of Caribbean Central and North, will be leaving to join her family business, effective October 31.
In August 2013, the group appointed Sharp as its first female president and CEO, effective September of that year. Sharp was also appointed a director of the SGJ and the Bank of Nova Scotia Jamaica.
As CEO it not only marked the first female to be appointed to that post but the first person who did not have an early career start in the bank to make it to the top executive post, her rise is sharp indeed, taking a mere 15 years after joining the bank. The resignation brings her career at the financial group to 20 years.

Jacqueline Sharp

According to the release from the group, Jackie Sharp joined the group in 1997 as a Management Trainee and held a number of key positions including Private Banking, Insurance, and Finance, before assuming the Country Head role, and most recently Head of Scotiabank’s Caribbean Central and North covering Jamaica, Bahamas, Cayman, Belize, British Virgin Islands and Turks and Caicos Islands.
“Jackie has made significant contributions to Scotiabank and the community over the years, achieving strong financial results while becoming one of the most respected leaders in the financial sector in Jamaica and the Caribbean”, said Brendan King, Senior Vice President, International Banking, Scotiabank. “We are very grateful for her dedication, consummate leadership and passion over many years at the Bank, and wish her well in her new endeavours as she joins her family business in Jamaica.”
In the first year of her reign Scotia Group Jamaica reported a fall of $774 million or 7 percent in net income to $10.1 billion for the year ended October 2014. Profit rose 14 profit to $11.6 billion for the 2016 year from $10.1 billion in 2015.
Scotia’s closest competitor on the other hand for the year to September 2014 enjoyed a 36 percent, or $3.1 billion increase to $11.6 billion and made profit of $14.4 billion in 2016 versus $12.3 billion in 2015 for a rise of 17.5 percent.

David Noel

Scotia results for six months to April showed profit up 14 percent to $5.7 billion while NCB grew 58 percent to $9.5 billion.
Sharp is being replaced by David Noel as President and Chief Executive Officer, and Head of the Caribbean Central and North regions. Noel joined Scotiabank in Jamaica in 2001 as Legal Counsel before moving to Canada in 2008 on a leadership development rotation in Toronto.
In 2010, he took on the role of District Vice President for East New Brunswick and Prince Edward Island. He returned to Toronto in 2012 where he worked in Global Risk Management. In 2013 he was appointed Managing Director, Caribbean East, leading the Bank’s operations in Barbados and the Eastern Caribbean. In November 2016, he was appointed Deputy Chief Executive Officer of the Scotia Group with responsibility for the subsidiary units, including retail and commercial banking, life insurance, investment management and brokerage, micro-finance and mortgages.

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Sharp resigns from Scotia

September 5, 2017 by

Jackie Sharp has resigned from Scotia Group word reaching IC Insider.com has confirmed.
Sharp who took over from Bruce Bowen in 2013 handed in her resignation today the sources said. the resignation brings to her employment to the group to 20 years.
Sharp initially joined the group in the Insurance segment and rose to top slot in that company before becoming the chief finance person within the group based on what insiders say was her outstanding achievement in the Insurance arm.
Her replacement is David Noel a Jamaican who was seconded to Canada some years ago and was sent off to Barbados to head that operation of the group ahead of higher position whenever that arose. In 2016, he moved back to Jamaica as Sharp’s second in command.
Bank of Nova Scotia, a subsidiary of Scotia Group is Jamaica’s second largest commercial bank in Jamaica.
The change comes at a time when Scotia Group’s profits are at the highest levels in the history of the group with the shares trading on the Jamaica Stock Exchange at record levels and the price closing at an all-time high of $55 on Tuesday.
The change comes at an interesting time, with the Jamaican economy expected to move into a stronger growth period in the years ahead. Inflation and interest rates are expected to remain low, while growth in a number of sectors is expected to pick up. Increased activities in areas such as tourism, certain agricultural items, example poultry, dairy farming, business outsourcing (BPO) and construction should provide a basis for increased banking activity from which Scotia should be able to benefit from.

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JSE AJI breaks 290,000 points

September 5, 2017 by

Helped by a jump of $2.99 in the price of Scotia Group shares in the early morning session on Tuesday to reach a record $54.99, the All Jamaica Composite Index is up to record levels, breaking through the critical resistance of 290,000 points.
The move today have lifted the gains in All Jamaica by an impressive 38 percent for year to date. If the market continues to hold above the 290,000 points mark, it could be setting up for a huge rally ahead with no major resistance levels in sight for sometime to come.
The market index sits just above the resistance level, having exceeded the level at 10.30 earlier in trading today before Scotia Group price fell back to $51.60, after trading just 2,384 shares for the day so far.
At 10:30am, the All Jamaica Composite Index rose 2,173.29 points to 290,234.60, the JSE Market Index rose 1,980.12 points to 264,436.58 and the JSE US dollar market index remained at 198.22 and the Junior Market lost 4.13 points to 3,071.28.

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Broilers dominates Monday’s trading

September 4, 2017 by

Trading activity rose on Monday in the main market of the Jamaica Stock Exchange with 9,375,844 units valued at $169,350,761 changing hands, but one stock, Jamaica Broilers dominated trading, accounting for 7.49 million units and 80 percent of the volume traded.
Three stocks ended trading at record closing prices as demand grows for a selective group of companies.
At the close of the market the volume of stocks changing hands and their last traded price are: Barita Investments with gains of $2.15 and closing trading $10.25 with 45,000 units changing hands, Berger Paints closed 90 cents higher to $11.50 with 2,600 shares, Cable and Wireless gained 3 cents in closing at $1.08 with 142,022 shares, Caribbean Cement ending with a loss of 50 cents, to $26.50 with 499,169 units. Carreras closed at $107.55, losing 45 cents with 18,336 stock units, Grace Kennedy with a loss of 80 cents, closed at $41.20 with 9,576 shares. Jamaica Broilers traded $1.10 lower to $17.85 with 7,492,431 shares, Jamaica Producers gained 5 cents to close at $15.10 with 2,190 shares, JMMB Group lost 9 cents to close at $21.40 with 20,818 shares. Kingston Wharves closed at $30.79 with 2,955 shares, Mayberry Investments with gains of 16 cents, closed at $4.46 with 5,470 shares, NCB Financial Group fell 50 cents to close at $89.50 with 6,379 shares, 1834 Investments closed at $1.34 with 27,300 shares. Portland JSX exchanged 2,000 shares at $9.25, Pulse Investments lost 4 cents, closing at $1.95 with 195,848 shares, Radio Jamaica closed at $1.23, adding 1 cent with 36,482 stock units changing hands, Sagicor Group closed $1.25 lower to $32.85 trading 8,070 shares, Sagicor Real Estate Fund ended at $10.99, after losing 97 cents with 10,000 shares trading, Salada Foods closed at $8.50 with 200,000 shares, Scotia Group jumped $2, to a record close of $52 with 93,121 shares traded, Sterling Investments gained 10 cents, closing at $12.85 with 100 units, Supreme Ventures closed at $12.90 with 505,077 shares. Margaritaville Turks US ordinary share closed at 30 US cents with 2,904 units, Proven Investments US ordinary shares closed at 24 US cents with 2,298 units, recently listed Productive Business Solutions US ordinary share closed at a record high of 72 US cents, gaining US12 cents with 500 units, JMMB Group 7.5% preference share ended at $1.16 with 50,000 units and Productive Business Solutions 9.75% cumulative redeemable share closed with a gain of $5 at a record high of $105 with 900 shares.

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Keep an eye on Scotia Group

September 4, 2017 by

With cut in Bank of Jamaica benchmark interest rate by 25 basis points in the last week of August and fall in the August Treasury bill rates, new life was brought to the main market last week with a number of days of record high.
The entire main market is on IC Insider.com’s watch list as the all Jamaica Composite Index could move to the 300,000 points mark before long.
The most noted move in the Jamaica Stock Exchange last week was Scotia Group racing to a record high of $52 but ending the week without any stock being offered for sale. This stock has to head the stocks to watch list this week.
Others on the list are Barita Investments and Berger Paints two stocks that are subject of takeover offers, both stocks fell back sharply during the week, moves that appear unwarranted. Others on the list are, JMMB Group, NCB Financial Group with just 47,000 units on offer between $90 and $100, Sagicor Group and Supreme Ventures with a 41 percent rise in half year profit.
In the Junior Market, Caribbean Producers with improved 2017 results over 2016 with profit doubling, Jetcon Corporation that came under some selling pressure last week and fell to $4.50 and Stationery & Office Supplies complete the watch list.

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JSE falters on Monday with 3 new highs

September 4, 2017 by

Scotia ended at a new closing high of $52 on Monday.

The main market of the Jamaica Stock Exchange retreated on Monday after it surged sharply on Friday to a record close. At the close of trading the market indices slipped over 1,000 points and sits just below a major resistance level around 290,000 points on the all Jamaica index.
The market closed with 3 new closing highs, as Scotia Group ended at $52, up from $50 on Friday, recently listed Productivity Business Solutions (PBS) US dollar ordinary climbed to 72 cents while the preference share traded a small amount at $105. Jamaica Broilers was the dominant trade by far accounting for 7.49 million units amounting to 80 percent of the volume traded on Monday.
The All Jamaica Composite Index fell 1,185.82 points to close at 288,061.31, the JSE Market Index declined 1,080.42 points to 262,456.46 and the JSE US dollar market index advanced 11.04 points to 198.22 as PBS gained on Friday’s closing price.
At the close of trading, 24 securities changed hands in the main market with 3 trading in the US dollar market, leading to 10 stocks advancing and 8 declining. The main market ended with 9,375,844 units valued at $169,350,761 changing hands compared to 1,353,000 units valued at $37,486,124 at the close on Friday. Trading in the US dollar market accounted for 5,702 units valued at US$1,783 bringing the total of all trades to J$169,580,732.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 5 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 390,660 units valued at $7,056,282 for each security traded compared to an average of 54,120 units valued at $1,499,145. The average volume and value for the month to date ended at $222,390 units with an average value of $4,277,863 compared with an average of 54,120 units valued at $1,499,145 on the previous trading day. The average volume and value for August ended at 184,094 units with an average value of $4,336,090.
Some of the stocks to watch when trading resumes on Tuesday are Barita Investments that closed at $10.25 but has a bid of $9.50 to sell 50,000 units, Berger Paints with buying at $12 for over 9,000 units with the last price on Monday being $11.50, Scotia Group and Supreme Ventures.

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Finance companies blast JSE indices

September 1, 2017 by

Sagiocr Group was one of the big contributors to the JSE rise on Friday with a rise of $2.30.

The main market of the Jamaica Stock Exchange started trading for September in a very bullish mode and closed the day with a huge jump in the market indices, thanks to 2 to 1 advance decline ratio, but more so by movements in the three large capitalisation stocks, NCB Financial, Sagicor Group and Scotia Group.
The All Jamaica Composite Index surged 8,689.74 points, at the close of trading the third highest in the markets history and the JSE Market Index climbed 7,917.33 points. The market sits just under a major resistance level at 290,000 points on the All Jamaica Composite Index, a meaningful break out this coming week could open the market up for a huge rally for the balance of the year.
At the close of market activity, the volume of stocks changing hands and their last traded price are Barita Investments with gains of 5 cents to end at $8.10 with 9,501 shares, Berger Paints closed $2.50 lower to $10.60 with 30,378 shares as investors responded negatively to the buyout offer for the minority shareholdings while ignoring the fundamentals of the company. Cable and Wireless gained 5 cents, closing at $1.05 with 18,094 shares, Caribbean Cement traded 40,150 shares at $27, Carreras closed at $108 with 30,352 stock units, Ciboney exchanged just 200 shares at 17 cents, Grace Kennedy added 2 cents to close at $42 with 14,115 shares. Jamaica Broilers lost 5 cents and closed at $18.95 with 26,278 shares, Jamaica Stock Exchange closed at $6.35, rising of 50 cents in trading 850 shares,JMMB Group gained 49 cents to close at $21.49 with 11,653 units. Kingston Properties closed at $7.50, rising 30 cents with 742 stock units, Kingston Wharves traded 6 cents lower to $30.79 with 1,503 shares, Mayberry Investments lost 20 cents, closing at $4.30 with 199,098 stock units, NCB Financial Group climbed $1.01 to close at $90 with 42,492 shares, 1834 Investments ended with a gain of 4 cents, closed at $1.34, with 31,474 shares and 138 Student Living lost 70 cents to close at $4.75 with 100 stock units. Radio Jamaica closed at $1.22 with 25,927 units changing hands, Sagicor Group jumped $2.30 to $34.10 trading 331,028 shares, Sagicor Real Estate Fund ended at $11.96, after falling 9 cents with 17,729 shares, Salada Foods gained 50 cents, closing at $8.50 with 100,000 shares, Scotia Group closed at $50 with 255,822 shares, after trading earlier at $52. The market closed with no stock being offered for sale ahead of the third quarter results due in the coming week. Seprod traded 4,000 shares at $33, Supreme Ventures closed at a record $12.90, gaining 90 cents with 81,771 units. Newly listed Productive Business Solutions US ordinary shares rose 5 cents and closed at a record 60 US cents while trading just 100 units, Proven Investments US ordinary share closed at 24 US cents with 14,100 units, Jamaica Money Market Brokers 7.5% preference share traded 45,100 units at $2 and JMMB Group 7.5% preference share gained 1 cent to close at $1.16 with 34,643 units.

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