Trading on the Jamaica Stock Exchange US dollar market closed with a sharp fall in the number and value of shares changing hands as market activity resulted in three securities changing hands, similar to Friday.
The market closed with the prices of one stock advancing, one declining and one closing unchanged. Trading ended with 552,258 shares for US$125,657 changing hands, in contrast to 2,160,753 shares at US$452,039 from three securities on Friday.
At the close, the market climbed 6.27 points to 187.83. The PE ratio of the market closed with an average of 13.1 times IC Insider.com projected 2020 earnings.
At the close of market activity, Proven Investments closed with a loss of one cent at 22 US cents, with 548,229 shares changing hands. Sygnus Credit Investments gained 1.9 cents and exchanged a mere 29 units at 15 US cents and Trans Jamaican Highway was unchanged at 0.99 of a US cent after transferring 4,000 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading dips on JSE US$ market
Junior & Main Market performance gap grows
IC Insider.com TOP 10 weekly reports indicated for some time that the best buys for Jamaican stocks are in the Junior Market. Since the drop in March, the Junior Market is recovering at a faster pace than the Main Market and the trend continues.
Following on from last week when the Junior Main Market rose four out of five trading days, the market rose three days this past week with Thursdays decline being a mere seven points and the market rising 12 points for the week.
The Main Market lost just under 2,000 points last week and lost 3,784 points this week, thus widening the performance gap between this market and the Junior Market, for the year to date.
For the Junior Market TOP 10, Elite Diagnostic price dropped from $4.17 last week to $3.81 and moved back into TOP 10, replacing Medical Disposables that inched up to $6.95 from $6.69 last week. There was no change to the TOP 10 Main Market, this past week.
The past week closed with the three top Junior Market stocks with the potential to gain between 254 to 698 percent by March 2021 are Caribbean Producers, followed by Lasco Financial and Caribbean Cream that took over from Lumber Depot that was number three last week. In the Main Market, the top three continues to be Radio Jamaica continues to lead, followed by Berger Paints and JMMB Group with expected gains of 170 to 230 percent.
The targeted average PE ratio of the market is 20 based on the profits of companies reporting full year’s results for the financial year ending after the second quarter of 2020 up to the second quarter in 2021. 
Both the Junior and Main markets are currently trading well below this level. The JSE Main Market ended the week, with an overall PE of 14.3 and the Junior Market at just 9.6, based on 2020-21 earnings. The PE ratio for the Junior Market Top 10 stocks averages a mere 5.7 at just 59 percent to the average of the overall Junior Market. The Main Market TOP 10 stocks trade at 8.6 or 60 percent of the PE of the overall market.
The average projected gain for the IC TOP 10 stocks is 283 percent, for the Junior Market and 140 percent for the JSE Main Market, based on 2020-21 earnings, an indication that there is the potential to make greater gains in the Junior Market than in the Main Market.
IC TOP 10 stocks are likely to deliver some of the best returns up to March 2021. The expected gain for each stock is based on earnings and PE ratios for the current fiscal year. 
The ranking of stocks is in order of likely increases, with the highest-ranked, being the most attractive. The ranking of stocks is in order of likely increases, with the highest-ranked, being the most attractive. 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 down JSE US$ market prices up
Trading remained subdued on the Jamaica Stock Exchange US dollar market on Tuesday as stocks crossing the exchange fell to just 13 percent of Monday’s volume.
Proven Investments gained the most on the market.
Trading activity resulted in five securities changing hands, compared to four on Monday. Traded ended with the prices of three stocks advancing and two closing unchanged. Trading ended with 57,099 shares at US$26,170 changing hands, in contrast to 442,807 shares at US$25,355 on Monday.
At the close, the market added 1.15 points to 188.79. The PE ratio of the market closed with an average of 13.3 times IC Insider.com projected 2020 earnings.
At the close of market activity, First Rock Capital transferred 25,000 stock units at 10.5 US cents, Proven Investments rose 1.9 cents, exchanging 13.930 units and closed at 24.9 US cents. Sygnus Credit Investments gained one-tenth of a cent to end at 13.1 US cents, with 799 units changing hands and Trans Jamaican Highway ended at 0.99 of a US cent, after adding one-tenth of a cent in trading 7,370 units.
In the preference segment, JMMB Group 5.75% preference share traded 10,000 stock units at US$2.01.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
3 changes to BUY RATED Top 10
The Junior Main Market rose four out of five trading days this past week, with the market gaining 2.5 percent while the Main Market lost just under 2,000 points for a loss of half of one percent.
Scotia Group this week’s featured stock
In the last week of May, the Junior Market index gained 3 percent in continuation of a 4 percent rise in the prior week while the Main Market rose 2 percent, with less than a percentage point rise for the previous week.
IC Insider.com TOP 10 weekly reports indicated for some time that the best buys in the Jamaican markets are in the Junior Market, investors by their actions since the market dived in March are confirming this by pushing the Junior Market at a faster pace than the Main Market.
For the Junior Market TOP 10, CAC 2000 and KLE Group dropped out, with full-year earnings, downgraded, with the loss incurred for the six months for CAC and KLE struggling from lack of business due to coronavirus, with little possibility of either of them making up grounds to put them back in TOP 10 contention, for 2020. Elite Diagnostic price climbed from $3.74 to $4.17 and moved out of the group. Replacing the stocks dropping out of the TOP 10 are Caribbean Assurance Brokers, Jamaican Teas and Medical Disposables.
There was no change to the TOP 10 Main Market this past week.
This week’s focus: Scotia Group released half-year results to April this past week, but investors are concerned about the impact of bad loans on the profits of banks and they may be overreacting to it. Scotia Group reported a net income of $4.02 billion for the six months to April compared to $5.62 billion for the corresponding period last year. Excluding additional loan provisions of $1.11 billion due to the revision of expected credit losses, net income would be down $488 million or 8.7 percent. When the added loan provision and reduced fee income are taken into consideration, the second quarter, the results would have beaten the pretax profit in 2019, by a small margin.
The group loan portfolio increased $34 billion or 18 percent year over year, primarily due to 28 percent growth in commercial loans, with delinquency of only 0.8 percent. 
The retail loan portfolio increased 11 percent over the prior year and included a 14 percent increase in mortgages. The growth in loans is the most critical factor in determining likely gains in profit going forward.
The past week closed with the three top Junior Market stocks with the potential to gain between 260 to 692 percent by March 2021 are Caribbean Producers, followed by Lasco Financial and Lumber Depot. In the Main Market, Radio Jamaica continues to lead, followed by Berger Paints and JMMB Group, with expected gains of 165 to 233 percent.
The targeted average PE ratio of the market is 20 based on the profits of companies reporting full year’s results for the financial year ending after the second quarter of 2020 up to the second quarter in 2021. Both the Junior and Main markets are currently trading well below this level. The JSE Main Market ended the week, with an overall PE of 14 and the Junior Market at just 9.3, based on current 2020-21 earnings. 
The PE ratio for Junior Market Top 10 stocks averages a mere 5.7 at just 61 percent to the average of the overall Junior Market. The Main Market TOP 10 stocks trade at 8.6 or 62 percent of the PE of the overall market.
The average projected gain for the IC TOP 10 stocks is 283 percent, for the Junior Market and 140 percent for the JSE Main Market, based on 2020-21 earnings, an indication that there is the potential to make greater gains in the Junior Market than in the Main Market.
IC TOP 10 stocks are likely to deliver some of the best returns up to March 2021. Expected gains are computed based on earnings and PE ratios for the current fiscal year. The ranking of stocks is in order of likely increases, with the highest-ranked, being the most attractive. 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 US dollar market rises
Trading fell back on the JSE US dollar market on Wednesday, with just a fraction of the levels of stocks traded compared to Tuesday activity.
The market activity resulted in four securities changing hands, similar to trading on Tuesday. The market closed with the prices of one stock advancing, two declining and one unchanged. Trading ended with 48,474 shares with a value of US$4,762 changing hands, in contrast to 638,054 shares with a value of US$127,752 from the trading of six securities on Tuesday.
At the close, the market advanced by 3.98 points to 197.11. The PE ratio of the market closed with an average of 13.2 times 2020 earnings.
At the close of market activity, First Rock Capital lost 1 cent to close at 10 US cents, with an exchange of 34,551 stock units, Proven Investments gained 3.9 cents to end at 25.88 US cents, with the trading of 4,862 units. Sygnus Credit Investments shed 3 cents to end at 13 US cents, after transferring just one stock unit and Trans Jamaican Highway had 9,060 units changing hands at 0.99 of a US cent.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE US$ Market index slips
Trading closed on the JSE US$ Market on Monday with the number of active securities slipping to four compared to six on Monday and led to a fall-off in the volume and value of stocks changing hands.
The market closed with the price of one declining and three remaining unchanged. Trading ended with 638,054 shares with a value of US$127,752 changing hands, in contrast to 1,287,024, shares with a value of US$713,238 on Monday.
At the close, the US dollar market index dipped 2.75 points to 193.13. The PE ratio of the market closed with an average of 13.4 times 2020 earnings.
At the close of market activity, First Rock Capital traded 25,000 shares and closed at 11 US cents, Proven Investments fell 3.9 cents to close at 22.03 US cents, after transferring 573,173 shares. Sygnus Investments settled at 15.99 US cents, after exchanging 52,200 stock units and Trans Jamaican Highway ended at 0.99 US cents exchanging 37,681 shares.
There was no trading in the preference segment of the US dollar market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading climbs on the JSE US$ Market
Trading picked up further on the JSE US$ Market on Monday after the number of active securities rose and leading to a 35 percent rise in the volume of stocks changing hands with a value JSE US$ Market that was 700 percent higher than on Friday.
Market activity resulted in six securities changing hands, similar to that on Friday. The market closed with the prices of four stocks rising, one declining and one remained unchanged. Trading ended with 1,287,024, shares with a value of US$713,238 changing hands, in contrast to 955,873 shares with a value of US$89,015 from the trading of six securities on Friday.
At the close, the market advanced 5.08 points to 195.88. The PE ratio of the market closed with an average of 13.6 times 2020 earnings.
At the close of market activity, First Rock Capital gained 1 cent trading 677,100 shares and closed at 11 US cents, Proven Investments gained 2.9 cents to close at 25.9 US cents, after transferring 85,697 shares. Sygnus Investments rose one-tenth of a cent to settle at 15.99 US cents, after swapping one stock unit and Trans Jamaican Highway ended at 0.99 US cents, exchanging 106,981 shares.
In the preference segment, JMMB Group 5.75% preference share gained 1 cent and ended at $2.01, with 200,000 units changing hands and JMMB Group 6% lost 1 cent to close at 99 US cents trading 217,245 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
New changes to BUY RATED stocks
Junior Main Market stocks pulled back this week, resulting in few changes to the IC Insider.com TOP 10 lists as the market may be caught in the usual early summer of consolidation ahead of the release of second-quarter results.
For Junior Market TOP 10, General Accident pulled back to an attractive level of $5.32 and re-entered the TOP 10 at the expenses of Jamaican Teas. Sagicor Group moved back into the TOP 10 Main Market with Victoria Mutual Investments dropping out.
The week closed with the three top Junior Market stocks with the potential to gain between 356 to 692 percent by March 2021 as Caribbean Producers, followed by KLE Group and Lasco Financial. 
In the Main Market, Radio Jamaica continues to lead, followed by Berger Paints and JMMB Group with projected gains of 165 to 210 percent.
The targeted average PE ratio of the market is 20 based on the profits of companies reporting full year’s results for the financial year ending after the second quarter of 2020 up to the second quarter in 2021. Both the Junior and Main markets are currently trading well below this level. The JSE Main Market ended the week, with an overall PE of 14.2 and the Junior Market at just 9.5, based on current 2020-21 earnings. 
The PE ratio for Junior Market Top 10 stocks averages a mere 5.1 at 53 percent to the average of the overall Junior Market. The Main Market TOP 10 stocks trade at 8.6 or 60 percent of the PE of the market.
The average projected gain for the IC TOP 10 stocks is 327 percent, for the Junior Market and 139 percent for the JSE Main Market, based on 2020-21 earnings, an indication that there is greater potential to make greater gains in the Junior Market than in the Main Market.
IC TOP 10 stocks are likely to deliver some of the best returns up to March 2021. Expected gains are based on projected earnings and PE ratios for the current fiscal year. 
The ranking of stocks is in order of likely increases, with the highest-ranked, being the most attractive. 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.
Trading jumps on JSE US$ market
Trading levels picked up on the JSE US dollar market on Friday, with six times the volume trading on Thursday and leading to a rise in the market advanced by 1.72 points to 190.80.
Market activity resulted in six securities changing hands, up from three on Thursday. The market closed with the prices of three stocks advancing and none declining. Trading ended with 955,873 shares for US$89,015 changing hands, in contrast to 154,355 shares for US$13,028 from the trading five securities on Thursday.
The market closed with the PE ratio of the market at an average of 13.3 times 2020 earnings.
At the close of market activity, First Rock Capital Holdings traded 503,686 shares and rose half a cent to close at 10 US cents, Proven Investments gained half of a cent in trading 37,127 shares and closed at 23 US cents. Sygnus Credit Investments gained 3 cents in exchanging 29,163 units to close at 15.98 US cents and Trans Jamaican Highway ended at 0.99 US cents, after picking up one-tenth of a cent with 370,595 shares changing hands.
In the preference segment, JMMB Group 5.75% Preference Share traded 7,500 units at US$2 and JMMB Group 6% exchanged 7,802 stock units in closing at US$1.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
More slippage for JSE US$ market
unitsThe JSE US dollar Market closed on Wednesday with further slippage in the market index and with more securities trading, but the volume exchanged slipped slightly below Tuesday’s level.
Market activity resulted in five securities changing hands, compared to three on Tuesday. The market closed with the prices of one stock advancing, two declining and one remaining unchanged. Trading ended with 359,890 shares with a value of US$61,624 changing hands, in contrast to 649,264 shares with a value of US$121,654 from the trading of four securities on Tuesday.
At the close, the market index fell by 1.99 points to 187.00 and the PE ratio of the market closed with an average of 12.8 times 2020 earnings.
At the close of market activity, Margarataville exchanged 1,089 shares and closed unchanged at 18 US cents, Proven Investments ended trading 250,000 shares to settle at 22 US cents, Sterling Investments lost four-tenth of a cent in trading 1,966 stock units at 1.9 cents. Sygnus Credit Investments closed at 13 US cents, after gaining one-tenth of a cent in exchanging 44,700 units and Trans Jamaican Highway ended the day at 0.93 US cents, having shed one-fifth of a cent after transferring 62,135 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.