JSE price changes fluid on Monday
Two junior market and 3 main market stocks ended at new 52 weeks’ closing high and 1 junior stock trading at 52 weeks’ intraday high. The main market indices enjoyed another day of decent gains. The JSE Market Index fell 6.27 points to 106,653.25, the JSE All Jamaican Composite index rose 7 points to 118,147.30 and the JSE combined index jumped 594.88 to end at 111,679.90 points.
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 13 stocks with bids higher than their last selling prices and 5 with offers that were lower.
In trading, Cable and Wireless added 2 cents, with 792,712 shares changing hands to close at 60 cents, Caribbean Cement shot up to $9.90 with 66,761 shares changing hands for a 90 cents increase, Desnoes and Geddes jumped $1.96 to trade at $15.03 with 19,100 shares trading at a new 52 weeks high. Desnoes and Geddes closed with a bid to buy 10,000 units at $17.28, at $2.25 above the last traded price. Grace Kennedy ended with 1,000 shares trading at $64.50, with a gain of 50 cents. Jamaica Broilers closed at $7.10 with 283,284 shares changing ownership, for a gain of 60 cents, Jamaica Producers lost 15 cents in trading 77,628 shares at $18.50, Jamaica Stock Exchange gained 30 cents in closing at $7.50 with 143,900 shares changing hands. Mayberry Investments traded 15,006 shares at $2.60 at the close with a gain of 25 cents, National Commercial Bank closed with a loss of $2.94 with only 4,025 shares trading to close at $30.05. 138 Students Living lost 20 cents in closing at $4.20 with 15,000 shares, Pan Jamaican Investments traded 8,000 shares at $61 with a loss of 99 cents. Radio Jamaica traded 3,056 shares to close at $4, for an 18 cents decline, Sagicor Group with 20,500 shares closed 9 cents lower at $13.01, Scotia Group ended with 13,099 shares trading at $24 after losing $1.64 and Sterling Investments gained 10 cents in ending at $13 while 8,200 shares traded.
Weak start to the week for JSE
The Jamaica Stock Exchange saw low trading activity on Monday, at the close there were 11 stocks rising and 11 declining with 30 securities totalling 1,250,833 units, valued at $8,226,223 changing hands, in all market segments. Trading in the main market was very light with only 446,610 shares trading.
The main market indices enjoyed a second day of increases with the JSE Market Index lost 150.92 points to 96,356.49, the JSE All Jamaican Composite index declined 168.66 points to 106,640.09 and the JSE combined index fell 112.62 to end at 99, 626.43.
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 14 stocks with bids higher than their last selling prices and 5 with offers that were lower. This indicator has increased in strength over the past week as the period for company results for the third quarter approaches. There remain some pockets of weakness as shown by the number of stocks that are offered below their last selling prices.
In trading, Cable and Wireless fell 2 cents with 6,000 shares changing hands, to close at 49 cents, Caribbean Cement had 215,450 shares trading with a 1 cent rise to $7.71, Carreras lost 40 cent in trading 11,250 shares and ended at $49.10, Hardware & Lumber traded just 797 shares to end at $11 for a fall of $2. Mayberry Investments had 13,500 units trading at $2.80, National Commercial Bank had 74,249 units changing hands and ended at $27.75, Pan Jamaican traded 2,337 shares to close with a loss of $1.29 at $61.71. Radio Jamaica traded at $3.08 with 18,847 shares changing hands. Sagicor Group with 14,503 shares closed 18 cents up, to $13. Scotia Group gained $1.18 in ending at $24.95 with 56,261 shares trading, Scotia Investments gained 47 cents to $25 with only 1,900 units, Sterling Investments ended with a loss of 40 cents to a 52 weeks’ low of $13 while trading 3,000 shares and Supreme Ventures lost 15 cents with 10,300 shares trading to end at $3.60.
$450m rights issue for Sterling
Sterling Investments Limited is setting to raise around J$450 million by way of a renounceable rights issue by April this year. The opening date of the issue will be March 18, with closure set for April 8.
Before the issue, the directors are planning to get approval for a stock split which IC Insider understands is likely to be 10 new shares for each one now existing. This means that the right issue price should be under $13.40, the price that the stock has traded at recently, assuming the split takes effect at the above ratio.
The company has called an extraordinary general meeting of shareholders for February 21, 2015 in St. Lucia to consider increasing the share capital, approving the stock split, authorizing the Directors to implement a Rights Issue and to carry out all steps and documents needed to give effect to the stock split and to implement the Right Issue.
Sterling is primarily involved in investing funds in mostly debt capital denominated in foreign currencies. At September last year, profit from operations totalled $48.36 million or 16 cents per share and total comprehensive income ended at $62.8 million. For the September quarter, profit amounted of $9.9 million down from $12.57 million in 2013 with negative total comprehensive income of $2.3 million. At end the end of the period equity capital amounted $544 million. NCB Capital Markets are the brokers to the rights issue.
The Directors intend to consider the payment of a final dividend at the Directors meeting that is scheduled on February 21, 2015. The company paid a dividend of J$1.35 in June last year.
Salada sole main market stock up Wednesday
In Wednesday’s activity on the Jamaica Stock Exchange, Salada Foods was the sole main market stock gaining on the eve of Christmas. The gain comes after the company reported strong increased earnings in the September quarter, from robust sales growth flowing from a change in distributorship.
At the close of trading, the prices of 4 stocks rose and 9 declined as only 18 securities changed hands, ending in 2,553,000 units trading, valued at $42,970,245, in all market segments.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator showed 9 stocks with bids higher than their last selling prices and 4 stocks with offers that were lower.
Main Market| The JSE Market Index lost 518.06 points to 75,931.88, the JSE All Jamaican Composite index fell 579.20 points to close at 83,613.68 and the JSE combined index gained declined by 471.73 points to close at 77,848.54
Gains| The only stock gaining in the main market is Salada Foods trading 58,800 shares and closing 70 cents higher at $8.70.
Firm| The stocks in the main market to close without a change in the last traded prices are, Cable & Wireless ending with 95,000 shares trading at 50 cents, Carreras ending trading with 803,702 at $37 and Sterling Investments closed with 1,000 shares trading at $134.
Declines| The last traded prices of stocks that declined at the end of trading in the main market are, Berger Paints with 1,000 units, the price slipped 5 cents to $1.55. Desnoes & Geddes finished with 19,615 shares trading lower by 10 cents to $4.70, Jamaica Producers ended with 144,043 shares trading 1 cent lower at $17.50, National Commercial Bank closed with 8,003 units, the price slipped 14 cents $18.36, Proven Investments finished with 3,571 units trading, the price declined by 0.25 US cents 19.75 US cents, Sagicor Group closed with 14,560 shares trading lower by 20 cents lower to $10, Sagicor Real Estate Fund ended with 4,000 shares trading 18 cents to $7.10 and Scotia Group closed with 447,276 shares changing hands 9 cents lower to $20.01.
9 up 6 down on JSE
Thursday’s activity on the Jamaica Stock Exchange, resulted in the prices of 9 stocks rising and 6 declining as 24 securities changed hands, ending in 4,155,612 units trading, valued at $38,853,829, in all market segments.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had 4 stocks with bids higher than their last selling prices and 4 stocks with offers that were lower.
Main Market| The JSE Market Index gained 80.66 points to 74,569.04, the JSE All Jamaican Composite index rose 90.19 points to close at 82,089.86 and the JSE combined index increased by 91.69 points to close at 76,481.10.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Gleaner finishing with 30,000 shares at 1 cent gain at $1.01, Jamaica Broilers with 2,330 shares changing hands, closed 9 cents higher to $4.10. Jamaica Money Market Brokers ended trading 664,120 ordinary shares and gained 40 cents to $7, Mayberry Investments saw trading in 230,000 units to close with a gain of 2 cents at $1.52, Pan Jamaican Investment ended with 3,000 shares rising 24 cents to $50.50 Sagicor Group closed with 183,270 units and put on 1 cent to $10 and Scotia Group finished trading with 269,756 shares at 30 cents higher at $19.70.
Firm| Stocks in the main market to close without a change in the last traded price are, Grace Kennedy with 12,394 shares to end at $60.50, Kingston Wharves with 23,000 shares at $6. Proven Investments had 7,097 ordinary shares, changing hands at 17.50 US cents and Sterling Investments concluded trading with 30,000 shares changing hands, to close at $134.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Cable & Wireless ended with 198,271 units as the price slipped 7 cents to 43 cents, Caribbean Cement closed with 2,500 shares trading 14 cents higher to $2.26, Margaritaville ended with 200 units, the price slipped 1 US cent to a 52 weeks, low of 10 US cents and National Commercial Bank closed with 978,842 shares trading, but lost 5 cents to $19.
Preference| Jamaica Money Market Brokers 8.75% preference share traded 273,624 units at $3.
5 up 4 down on JSE
Tuesday’s activity on the Jamaica Stock Exchange, resulted in the prices of 5 stocks rising and 4 declining as 20 securities changed hands, ending in 2,144,368 units trading, valued at 12,272,863.83, in all market segments.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had 6 stocks with bids higher than their last selling prices and 10 stocks with offers that were lower.
Main Market| The JSE Market Index lost 76.43 points to 71,566.02 the JSE All Jamaican Composite index declined 85.47 points to close at 78,732.04 and the JSE combined index gained declined by 46.84 points to close at 73,455.89.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Jamaica Broilers exchanged 29,600 shares and rose 15 cents to at $4.15, Jamaica Producers with 13,114 shares as the price ended a cent higher at $15.51.
Firm| The stocks in the main market to close without a change in the last traded prices are, Berger Paints had 22,799 shares trading at $1.60, Cable & Wireless with 40,855 shares changing hands ended at 29 cents, Jamaica Money Market Brokers had 15,100 ordinary shares changing hands at $7, National Commercial Bank with 422,293 shares traded at $17.55, Proven Investments had 7,000 units to close at 18 US cents, Sagicor Group 7,084 shares closed at $9.60 after trading as high as $10 earlier in the day, Sagicor Real Estate Fund with 16,000 units closed at $6.65, Scotia Investments with 555 shares at $21.40 and recently listed Sterling Investments with 100 shares changing hands, closed at $134.
Declines| The only stock with losing at the end of trading in the main market is, Scotia Group with 52,894 shares to close with a loss of 29 cents at $19.11.
Preference| Jamaica Money Market Brokers 8.75% preference share traded 691,050 units at $3 and Proven Investments 8% preference share traded 6,000 units at $5.