Trading rises on JSE USD market

The US dollar market of the Jamaica Stock Exchange closed trading on Tuesday, with the market declining after 244 percent more shares changed hands than on Monday and resulted in the prices of more stocks rising than falling. 
At the close of the market, trading ended with five securities changing hands compared to three on Monday and ended with the prices of three stocks rising, one declining and one remaining unchanged.
The JSE USD Equities Index carved out a loss of 1.50 points to settle at 187.28 at the close, with the average PE Ratio ending at 12.7 based on IC Insider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 516,236 shares, accounting forUS$127,632 compared to 150,020 units at just US$2,461 on Monday.
The average trade for the day amounted to 103,247 units changing hands at  US$25,526, in contrast to an average of 50,007 shares at  US$820  on Monday. Trading ended, with an average of 91,737 units for the month to date at US$12,611 in contrast to 90,537 units at US$11,266. By comparison, August ended with an average of 83,402 units for US$7,526.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows two stocks ended with bids higher than their last selling prices and none with lower offers.
At the close of the market, First Rock Capital Investment gained two-tenths of a cent in ending at 8.7 US cents after 5,500 shares crossed the market, Proven Investments carved out a loss 2 US cents to close at 25 US cents with investors switching ownership of 501,010 stocks. Sygnus Credit Investments rose a fraction of a cent to end at 13.02 US cents with investors swapping 4,266 stocks units and Transjamaican Highway gained nine-tenths of a cent and settled at 0.09 US cent with investors swapping 4,510 shares.
In the preference segment of the market, JMMB Group 5.75% remained at US$2.01 in an exchange of 950 units.

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

JSE USD market slips on Monday

The US dollar market of the Jamaica Stock Exchange closed trading on Monday, with the market declining as investors traded 83 percent fewer shares than on Friday, resulting in an even number of stocks rising, falling and closing unchanged. 
At the close of the market, trading ended with three securities changing hands compared to five on Friday and closed with the price of one stock rising, one declining and one remaining unchanged.
The JSE USD Equities Index lost 2.18 points to settle at 188.78, with the average PE Ratio ending at 12.7 based on IC Insider.com forecast of 2020-21 earnings.
The market closed with an exchange of 150,020 shares, accounting for US$2,461 compared to 860,406 units at  US$20,339 on Friday. The average trade for the day amounted to 50,007 units changing hands at US$820, in contrast to an average of 172,081 shares at  US$4,068 on Friday. Trading ended with an average of 90,537 units for the month to date at US$11,266 in contrast to 93,329 units at US$11,962. By comparison, August ended with an average of 83,402  units for US$7,526.
IC bid-offer Indicator| At the end of trading, the  Investor’s Choice bid-offer indicator reading for the market shows one stock ending with the bid higher than the last selling price and one with a lower offer.
At the close of the market, Proven Investments half of a US cent to settle at 27 US cents, in clearing the market with  20 stock units, Sygnus Credit Investments gained 1 US cent to close at 13 US cents while exchanging 10,000 stocks and Transjamaican Highway remained at 0.81 of a US cent, with 140,000 shares changing hands.

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

 

Another quiet week for IC TOP 10

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.

Volume up prices down on JSE USD market

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The US dollar market of the Jamaica Stock Exchange closed trading on Friday, with the market declining after over 41 times more shares traded than on Thursday, resulting in more stocks falling than rising. 
At the close of the market, trading ended similar to Thursday, with five securities changing hands and ended with the prices of one stock rising, three declining and one remaining unchanged.
The JSE USD Equities Index lost 1.98 points to settle at 190.96, with the average PE Ratio ending at 12.6 based on IC Insider.com forecast of 2020-21 earnings.
The market closed with an exchange of 860,406 shares, accounting for US$20,339  compared to 20,101 units at US$32,755 on Thursday. The average trade ended at 172,081 units changing hands at US$4,068, in contrast to an average of 4,020 shares at US$6,551 on Thursday. Trading ended, with an average of 93,239 units for the month to date at US$11,962  in contrast to 83,384 units at US$12,949. By comparison, August ended with an average of 83,402 units for US$7,526.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows two stocks ending with bids higher than their last selling prices and none with lower offers.
At the close of the market, First Rock Capital Investment lost 0.49 of a cent to close at 8.5 US cents with investors switching ownership of 5,000 shares, Proven Investments gained 1.5 US cents, after ending at 27.5 US cents in exchanging 606 units. Sygnus Credit Investments declined by 1.5 US cents to close at 12 US cents trading 104,750 shares and Transjamaican Highway slipped 0.07 of a cent to 0.81 of a US cent, with 750,000 shares passing through the market.
In the preference segment of the market, Equityline Mortgage Investment preference share closed at US$1.96, with 50 units changing hands.

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

JSE USD market slips on lower volume

The US dollar market of the Jamaica Stock Exchange closed trading on Thursday, with the market declining after 54 percent fewer shares changed hands than on Wednesday, resulting in more stocks falling than rising. 
At the close of the market, trading ended with five securities changing hands compared to two on Wednesday and ended with the prices of one stock rising, two declining and two remaining unchanged.
The JSE USD Equities Index declined by 0.91 points to settle at 192.94, with the average PE Ratio ending at 12.9 based on IC Insider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 20,101 shares, accounting for US$32,755  compared to 37,232 units at US$13,216 on Wednesday.
The average trade for the day amounted to 4,020 units changing hands at  US$6,551, in contrast to 18,616 shares at US$6,608 on Wednesday. Trading ended, with an average of 83,384 units for the month to date at US$12,949 in comparison to 99,335 units at US$14,302. By contrast, August ended with an average of 83,402 units for US$7,526.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows two stocks ended with bids higher than their last selling prices and none with lower offers.
At the close of the market, First Rock Capital Investment lost 0.01 of a cent and closed at 8.99 US cents, with 175 units passing through the market. Sygnus Credit Investments gained half a US cent to end at 13.5 US cents, with 376 stock units changing hands and Transjamaican Highway lost 0.02 of a cent and ended at 0.88 of a US cent, trading of 2,150 stock units.
In the preference segment of the market, JMMB Group 5.75% settled at US$2.01, trading 15,000 stocks and JMMB Group 6% settled at US$1.05 and cleared the market with 2,400 shares.

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

Subdued JSE USD Market trading

The US dollar market of the Jamaica Stock Exchange closed trading on Wednesday, with the market declining after investors traded 292 percent more shares than on Tuesday, resulting in no price gain and an even number of stocks falling than and unchanged. 
At the close of the market, trading ended with two securities changing hands compared to three on Tuesday and ended with the price of one declining and one remaining unchanged. The JSE USD Equities Index lost 0.68 points to settle at 193.85, with the average PE Ratio ending at 12.9 based on IC Insider.com forecast of 2020-21 earnings. The market closed with an exchange of 37,232 shares, for US$13,216  compared to 9,507 units at  US$2,513 on Tuesday. At the close, the average trade was 18,616 units at US$6,608, in contrast to an average of 3,169 shares at US$838 on Tuesday. Trading ended, with an average of 94,722 units for the month to date at US$13,863 in contrast to 99,335 units at US$14,302. By comparison, August ended with an average of 83,402 units for US$7,526.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows two stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close of the market, Sygnus Credit Investments lost 1.4 US cents in closing at 13 US cents, exchanging 28,232 shares and in the preference segment of the market, JMMB Group 6% remained at US$1.05, in trading 9,000 units.

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

JSE USD market slips on low volume

The US dollar market of the Jamaica Stock Exchange closed trading on Tuesday, with the market slipping after investors traded a handful of shares, well down on Monday volume, resulting in an even number of stocks rising and falling. 
At the close of the market, similar to Monday, trading ended with just three securities changing hands and ended with the prices of one stock rising,  one declining and one remaining unchanged.
The JSE USD Equities Index lost 0.35 points to settle at 194.53, with the average PE Ratio ending at 13 based on IC Insider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 9,507 shares, accounting for US$2,513 compared to 131,923 units at US$35,370 on Monday.
The average trade for the day amounted to 3,169 units changing hands at  US$838, in contrast to an average of 100,641 shares at US$27,657  on Monday. Trading ended, with an average of 99,335  units for the month to date at US$14,302 in contrast to 108,951 units at US$15,649. By comparison, August ended with an average of 83,402 units for US$7,526.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows two stocks ending with bids higher than their last selling prices and two with lower offers.
At the close of the market, First Rock Capital Investment rose 0.96 US cent to close at 9 US cents exchanging 17 shares, Proven Investments shed 2 US cents to close at 26 US cents with an exchange of8,990 stock units and Sygnus Credit Investments remained at 14.35 US cents in exchanging 500 stocks.

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

Quiet week for IC TOP 10

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.

Proven pushes JSE USD higher – Friday

Proven Investments enjoyed a good day on the US dollar market of the Jamaica Stock Exchange on Friday and helping to move the market higher after investors traded 37 percent more shares in the overall market at twice the value than on Thursday.  

Proven Investments traded the most shares on the JSE USD market.

At the close of the market, trading ended with three securities changing hands compared to five on Thursday and ended with the prices of two stocks rising, none declining and one remaining unchanged.
The JSE USD Equities Index increased 3.82 points to settle at 187.49, with the average PE Ratio ending at 12.9 based on IC Insider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 778,508 shares, accounting for  US$202,867 compared to 568,488 units at US$67,244 on Thursday.
The average trade for the day amounted to 259,503 units changing hands at  US$67,622, in contrast to an average of 113,698 shares at US$13,449  on Thursday. Trading ended, with an average of 109,874 units for the month to date at US$14,315 in contrast to 91,171 units at US$7,651. By comparison, August ended with an average of 83,402 units for US$7,526.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows one stock ended with the bid higher than the last selling price and none with lower offers.
At the close of the market, Proven Investments carved out a gain of 3.2 US cents in closing at 28 US cents and exchanging 758,069 shares and Sygnus Credit Investments gained 1.4 US cents to close at 14.35 US cents, trading 19,639 shares.
In the preference segment of the market, JMMB Group 6% traded 800 units to close at US$1.05.

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

Trading picks up for JSE USD market

Trading picked up on the US dollar market of the Jamaica Stock Exchange on Thursday, 88 percent more shares trading than on Wednesday, resulting in five securities changing hands compared to two on Wednesday and ending, with two stocks falling and the rest closing unchanged.
The JSE USD Equities Index increased 1.85 points to settle at 183.67, with the average PE Ratio ending at 12.6 based on IC Insider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 568,488 shares, accounting for US$67,244  compared to 302,184 units at US$71,447  on Wednesday.
The average trade for the day amounted to 113,698 units changing hands at US$13,449, in contrast to an average of 151,092 shares at US$35,724 on Wednesday. Trading ended, with an average of 91,171 units for the month to date at US$7,561 in contrast to 85,243 units at US$6,125. By comparison, August ended with an average of 83,402 units for US$7,526.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows one stock ended with the bid higher than their last selling price and none closing with lower offers.
At the close of the market, Proven Investments remained at 24.8 US cents, with investors trading 309 shares. Sygnus Credit Investments declined by 1.9 US cents in closing at 13 US cents with investors switching ownership of 297,407 stocks and  Transjamaican Highway closed at 0.81 of a US cent in clearing the market with 250,001 stock units.
In the preference segment of the market, JMMB Group 5.75% remained at US$2.01 after an exchange of 5,200 stock units, JMMB Group 6% lost 10 US cents to settle at US$1.05 and finishing, with 15,571 stocks changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.