JSE USD market volume collapsed

September 29, 2020 by

The number of stocks fell at the close of trading on the US dollar market of the Jamaica Stock Exchange on Tuesday compared to Monday with an exchange of 18,275 shares for US$4,085 compared to 153,543 units at US$22,603 on Monday. 
At the close of the market, trading ended with four securities changing hands compared to four on Monday and closed with the prices of no stock rising, one declining and three remaining unchanged.
The JSE USD Equities Index declined by 3.13 points to settle at 185.24, with the average PE Ratio ending at 12.6 based on IC Insider.com forecast of 2020-21 earnings.
The average trade for the day amounted to 4,569 units changing hands at  US$1,021, in contrast to an average of 38,386 shares at US$5,651  on Monday. Trading ended with an average of 86,481 units for the month to date at US$10,828, compared to 88,180 units at US$11,143 on Monday. 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 three 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 declined by 0.65 of a US cent in closing at 8.05 US cents, with 4,250 shares changing hands, Proven Investments settled at 26 US cents, in exchanging 724 units and Sygnus Credit Investments ended at 13 US cents trading 12,299 stock units.
In the preference segment, Equityline Mortgage Investment preference share closed at US$1.96, with 1,002 stock units changing hands.

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

Filed Under: Global Market, Stock Market Tagged With: , , , , , , , , ,

Light JSE USD trading Monday

September 28, 2020 by

The US dollar market of the Jamaica Stock Exchange closed trading on Monday, with the market rising after investors traded 72 percent fewer shares than on Friday, resulting in the majority of stocks closing unchanged. 
At the close of the market, trading ended with four securities changing hands compared to four on Friday and ended with the prices of no stock rising, one declining and three remaining unchanged.
The JSE USD Equities Index gained 1.52 points to settle at 188.37, with the average PE Ratio ending at 12.8 based on the IC Insider.com forecast of 2020-21 earnings.
The market closed with an exchange of 153,543 shares, accounting for US$22,603 compared to 553,018 units at US$8,738 on Friday.
The average trade for the day amounted to 38,386 units changing hands at  US$5,651, in contrast to an average of 138,255 shares at US$2,185  on Friday. Trading ended with an average of 88,180 units for the month to date at US$11,413 in contrast to 91,342 units at US$11,799. 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 three stocks ending with bids higher than their last selling prices and none with lower offers.
At the close of the market, Proven Investments remained at 26 US cents after exchanging 650 shares and Sygnus Credit Investments lost half a US cent to close at 13 US cents and cleared the market after trading 150,278 shares.
In the preference segment, Equityline Mortgage Investment preference share closed at US$1.96, with an exchange of 150 units and JMMB Group 6% was unchanged at US$1.05 in trading 2,465 stock units.

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

Filed Under: Global Market, Stock Market Tagged With: , , , , , , , , ,

Closed IPO & APO restore life to market

September 27, 2020 by

Oversubscribed public stock issues were the most pronounced development in the Jamaican stock market for the past two weeks. Barita Investments raised $13.5 billion from the public offer of new ordinary shares in the previous week and was joined by Tropical Battery, with their IPO that closed on the same day of opening, with a raise of $325 million. 

Barita eyeing acquisition.

Barita, a former IC Buy Rated stock capital raise, resulted in its share capital more than doubling from $10.88 billion to $24.4 billion and the overall equity capital moving to $28.74 billion. The stock price climbed to $77 at the close on Friday and provided investors in the APO with a nice 48 percent gain and more for smaller investors who bought at $49.
For a third consecutive week, there was no change in the companies on the IC TOP 10 listings, with the markets moving moderately higher partially helped by the rise in the price of Barita’s stock.
With the two public share issues out of the way, the Jamaica Stock Exchange market indices rose during the week with the JSE Main Market indices closing at the highest point since August 3 while the Junior Market was highest since August 26. The week’s movement reversed the negative effect the two issues had in diverting funds away from the market.
The top three stocks in each market saw no change in ranking for the top three Junior Market stocks, with the potential to gain between 295 to 709 percent by March 2021. Caribbean Producers heads the list, followed by Lasco Financial and Elite Diagnostic. The focus on all three is 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 231 percent, are Radio Jamaica, followed by Berger Paints and JMMB Group.
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 Market and the Main Market are currently trading well below this level, indicating the potential gains ahead. The JSE Main Market ended the week, with an overall PE of 14.8 and the Junior Market 11.2, 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 54 percent to the average of the overall Junior Market. The Main Market TOP 10 stocks trade at a PE of 8.3 or 56 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 the possible increase 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: , , , , , , , , , , , , , , , , , , , , , , , , ,

Volume rise, value falls on JSE USD market

September 25, 2020 by

The US dollar market of the Jamaica Stock Exchange closed trading on Friday, with the market declining after investors traded 172 percent more shares than on Thursday, but with a much lower value resulting in an even number of stocks rising and falling. 
At the close of the market, trading ended with four securities changing hands compared to three on Thursday and ended with the prices of two stocks rising and two declining. The JSE USD Equities Index dropped 1.65 points to settle at 186.85, with the average PE Ratio ending at 12.8 based on IC Insider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 553,018 shares, accounting for  US$8,738 compared to 203,639 units at US$55,318 on Thursday.
The average trade for the day amounted to 138,255 units changing hands at  US$2,185, in contrast to an average of 67,880 shares at US$18,439  on Thursday. Trading ended, with an average of 91,342  units for the month to date at US$11,799 in contrast to 88,161 units at US$12,429. 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, Productive Business Solutions advanced 5 US cents in closing at 75 US cents in trading 3,280 stock units, Proven Investments advanced 1 US cent and ended at 26 US cents exchanging 2,200 stocks. Sygnus Credit Investments lost eight-tenths of a cent and settled at 13.5 US cents in clearing the market with 9,670 stocks and Transjamaican Highway fell 1.3 cents to close at 0.81 of a US cent, with 537,868 stock units passing through the market.

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

Filed Under: Global Market, Stock Market Tagged With: , , , , , , , , ,

Rise in JSE USD market

September 24, 2020 by

The US dollar market of the Jamaica Stock Exchange closed trading on Thursday, with the market inching higher after traded 50 percent more shares than on Wednesday, resulting in more stocks rising than falling. 
At the close of the market, trading ended with three securities changing hands compared to three on Wednesday and ended with the prices of two stocks rising, none declining and one remaining unchanged.
The JSE USD Equities Index carved out a gain of 0.70 points to settle at 188.50, 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 202,039 shares, accounting for US$54,918  compared to 135,825 units at US$9,628 on Wednesday.
The average trade for the day amounted to 67,346 units changing hands at  US$18,306, in contrast to an average of 45,275 shares at US$3,209  on Wednesday. Trading ended, with an average of 86,489 units for the month to date at US$11,724 in contrast to 87,553 units at US$11,359. 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 one with a lower offer.
At the close of the market, Proven Investments carved out a gain of 1 US cent to end at 25 US cents with investors exchanging 196,519 shares and Sygnus Credit Investments gained 1.3 US cents to settle at 14.34 US cents in trading just 20 units.
In the preference segment of the market, JMMB Group 6% settled at US$1.05 in exchanging 5,500 stocks.

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

Filed Under: Global Market, Stock Market Tagged With: , , , , , , , , , , , , , , ,

JSE USD market rises on reduced trading

September 23, 2020 by

Trading fell 74 percent at the close of the market on Wednesday than Tuesday as the US dollar market of the Jamaica Stock Exchange closed with the market index rising even as the prices of more stocks falling than rising. 
At the close of the market, trading ended with three securities changing hands compared to five on Tuesday and closed with the price of one stock rising and two stocks declining.
The JSE USD Equities Index gained 0.52 points to settle at 187.80, 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 135,825 shares, accounting for US$9,628  compared to 516,236 units at US$127,632 on Tuesday.
The average trade for the day amounted to 45,275 units changing hands at  US$3,209, in contrast to an average of 103,247 shares at US$25,526  on Tuesday. Trading ended with an average of 89,248  units for the month to date at US$12,107 in contrast to 91,737 units at US$12,611. 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 lost 1 US cent in closing at 24 US cents in exchanging 33,815 shares, Sygnus Credit Investments lost 0.01 cent ended at 13.01 US cents trading 2,010 units and Transjamaican Highway rose 0.04 of a cent to close at 0.94 US cent, with investors switching ownership of 100,000 shares.

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

Filed Under: Global Market, Stock Market Tagged With: , , , , , , , ,

Trading rises on JSE USD market

September 22, 2020 by

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.

Filed Under: Global Market, Stock Market Tagged With: , , , , , , , , , ,

JSE USD market slips on Monday

September 21, 2020 by

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.

 

Filed Under: Global Market, Stock Market Tagged With: , , , , , , , ,

Another quiet week for IC TOP 10

September 21, 2020 by

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: , , , , , , , , , , , , , , , , , , , , , , , , ,

Volume up prices down on JSE USD market

September 18, 2020 by

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.

Filed Under: Global Market, Stock Market Tagged With: , , , , , , , , , ,