Trading activity was fairly steady on the Jamaica Stock Exchange US dollar market on Monday, with the volume of stocks changing hands rising 271 percent and valued 347 percent more than on Friday, resulting in trading in five securities, compared to 10 on Friday with three rising, one declining and one ending unchanged.
A total of 162,532 shares were exchanged for US$29,630 versus 43,767 units at US$6,623 on Friday.
Trading averaged 32,506 units at US$5,926 versus 4,377 shares at US$662 on Friday, with month to date average of 33,429 shares at US$3,056 compared with 33,484 units at US$2,883 on the previous trading day. December ended with an average of 39,679 units for US$1,494.
The JSE US Denominated Equities Index slipped 0.10 points to end at 227.22.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.5. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows no stock ending with a bid higher than the last selling price and none with a lower offer.
At the close, First Rock Real Estate USD share popped 0.29 of a cent to end at 7.79 US cents after 
34 shares were traded, Proven Investments increased 0.9 of one cent ending at 19.9 US cents as investors exchanged 153,626 stocks, Sterling Investments ended at 1.95 US cents after exchanging 8,685 stock units and Sygnus Credit Investments J$ share declined 0.34 of one cent in closing at 13.28 US cents with a mere eight units changing hands.
In the preference segment, JMMB Group 6% climbed 4.01 cents to close at US$1.0901 as 179 stock units passed through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading volume climbs on the JSE USD market
Knutsford Express leaves ICTOP10
Knutsford Express posted half year results that show revenues up 72 percent to $813 million and up 65 percent for the second quarter to $398 million and delivered profit of $59 million for the November quarter, up from just $2 million in 2021 and $143 million for the six months from $13 million in 2021, sending investors to pounce on the stock on Friday and pushing it to an intraday 52 weeks’ high of $11.60. The stock closed at $9.60 to exit the ICTOP 10 with an increase of 7 percent for the week.
With the latest results, Knutsford’s 2023 fiscal year earnings have been adjusted to $1 per share and putting the stock on target for at least $20 this year, at the close there were only a few stocks on offer for sale.
Knutsford is replaced by baking company Honey Bun coming in with a $7.20 price, with the potential for the price to move to $20 this year.
Junior Market action resulted in Paramount Trading climbing 30 percent to $1.99, ahead of second quarter results that showed continued improvement in profit as revenues climbed 50 percent in the November quarter, to $601 million and 55 percent for the half year to $1.2 billion ahead the 2021 period. Profit surged 126 percent to November quarter to $65 million and 212 percent for the half year to $149 million. Knutsford rose 7 percent to $9.60, but Iron Rock Insurance dropped 14 percent to $2.01. All other movements in the 
Junior Market TOP10 were 3 percent or less and similarly for the JSE Main Market TOP10.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.6, well below the market average of 14.4. At the same time, the Junior Market Top 10 PE sits at 6.2 versus the market at 12.8, important indicators of the level of the undervaluation of the ICTOP10 stocks currently. The Junior Market is projected to rise by 226 percent and the Main Market TOP10, an average now of 280 percent, to May this year.
The Junior Market has 16 stocks for 34 percent of the market, with PEs from 15 to 31, averaging 19.6 compared with the above average of the market. The top half of the market has an average PE of 18 and shows the extent of potential gains for the TOP 10 stocks. The situation in the Main Market is similar, with the 19 highest valued stocks priced at a PE of 15 to 100, with an average of 31 and 23 excluding the highest valued ones and 26 for the top half excluding the highest valued stock.
ICTOP10 focuses on likely yearly winners. Accordingly, the list includes some of the best companies in the market but not always. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks will likely deliver the best returns up to the end of May 2023 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate, resulting in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
Fall for JSE USD Market
Trading levels plunged on the Jamaica Stock Exchange US dollar market on Friday and pulled the Denominated Equities Index down by 1.47 points to 227.32, with the volume of stocks changing hands declining by 92 percent and the value dropping 93 percent from that on Thursday, resulting in an exchange of 10 securities, up from nine on Thursday, with no stock price rising, five declining and five ending unchanged.
Just 43,767 shares were traded for US$6,623, down from 531,152 units at US$99,750 on Thursday.
Trading averaged 4,377 shares at US$662, versus 59,017 shares at US$11,083 on Thursday, with month to date average of 33,484 units at US$2,883 compared with 37,472 stock units at US$3,188 on the previous day. December ended with an average of 39,679 units for US$1,494.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.5. The PE ratio uses ICInsider. com earnings forecasts for companies with financial years ending between November and August 2023.
Investor’s Choice bid-offer indicator shows no stock ending with a bid higher than the last selling price and one stock with a lower offer.
At the close, First Rock Real Estate USD share ended at 7.5 US cents in exchanging 90 shares, MPC Caribbean Clean Energy declined 5 cents in closing at 60 US cents, 187 units changing hands, Productive Business Solutions remained at US$1.69 with investors transferring two stock units. 
Proven Investments dropped 0.9 of a cent to close at 19 US cents as investors exchanged 30,019 shares, Sygnus Credit Investments USD share ended at 10 US cents while exchanging 1,432 stocks, Sygnus Real Estate Finance USD share lost 0.07 of a cent to close at 12.4 US cents, with 56 units crossing the exchange and Transjamaican Highway fell 0.02 of a cent in ending at 0.95 of one US cents, with 11,928 shares changing hands.
In the preference segment, Productive Business 9.25% preference share shed 45 cents to US$10.55 after 50 stock units crossed the market, Equityline Mortgage Investment preference share remained at US$1.67 with a transfer of just two units and JMMB Group 6% remained at US$1.05 and closed with an exchange of one stock unit.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Jump in trading on JSE USD Market Thursday
Trading on the Jamaica Stock Exchange US dollar market climbed above with a 481 percent jump in the volume after 531,152 shares were traded, with a 924 percent greater value on Wednesday of US$99,750 changing hands compared to 91,439 units at US$9,740 on Wednesday.
The average trade for Thursday amounts to 59,017 shares at US$11,083, up from 10,160 units at US$1,082 on Wednesday. The month to date average amounts to 37,472 shares at US$3,188 up from the 34,442 units at US$2,077 on the previous day December ended with an average of 39,679 units for US$1,494.
While the volume of stocks traded rose, the number of securities that were exchanged remained at nine which is similar to that on Wednesday, with the market ending with prices of three rising, two declining and four ending unchanged.
The JSE US Denominated Equities Index slipped 1.25 points to end at 228.79.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.6. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows no stock ended with a bid higher than the last selling price and two with lower offers.
At the close, First Rock Real Estate USD share lost 0.35 of a cent to close at 7.5 US cents after an exchange of 400 shares, Margaritaville remained at 14.5 US cents in trading 16,587 units, MPC Caribbean Clean Energy increased 5 cents to 65 US cents with investors swapping 500 stocks. 
Productive Business Solutions ended at US$1.69 with a transfer of 55 stock units, Proven Investments remained at 19.9 US cents, with 502,807 units crossing the exchange, Sterling Investments dipped 0.05 of a cent in closing at 1.95 US cents after a transfer of 7,211 shares and Sygnus Credit Investments USD share ended at 10 US cents, with 3,550 stock units changing hands.
In the preference segment, Productive Business 9.25% preference share rallied 45 cents to end at US$11 in exchanging 12 stocks and JMMB Group 5.75% climbed 30 cents to US$2.30 while exchanging 30 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE USD Market rallies
Trading fell on the Jamaica Stock Exchange US dollar market on Wednesday, with a 64 percent drop in the volume of stocks changing hands valued 58 percent lower than on Tuesday, the result from nine securities traded, similar to that on Tuesday with prices of four rising, two declining and three ending unchanged.
Overall, 91,439 shares were traded for US$9,740, down from 256,229 units at US$22,972 on Tuesday.
Trading averaged 10,160 units at US$1,082 versus 28,470 shares at US$2,552 on Tuesday, with month to date average of 34,442 shares at US$2,077 compared with 38,415 units at US$2,240 on the previous day. December ended with an average of 39,679 units for US$1,494.
The JSE US Denominated Equities Index gained 4.02 points to end at 230.04.
The PE Ratio, a measure used in the computation of appropriate stock values, averages 8.6. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November and August 2023.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and three with lower offers.
At the close, Margaritaville rallied 0.1 of a cent to 14.5 US cents in trading 28,413 shares, MPC Caribbean Clean Energy ended at 60 US cents after 15 units were transferred, Productive Business Solutions dipped 1 cent in closing at US$1.69 while exchanging ten stocks. 
Proven Investments rose 0.1 of a cent to 19.9 US cents with an exchange of 7,720 stock units, Sterling Investments advanced 0.1 of a cent to close at 2 US cents with a transfer of 2,400 units, Sygnus Credit Investments USD share ended at 10 US cents after 25,964 stocks were exchanged and Transjamaican Highway popped 0.07 of a cent in ending at 0.97 of one US cent with the swapping of 26,770 stock units.
In the preference segment, Productive Business 9.25% preference share ended at US$10.55, with 107 shares crossing the market and JMMB Group 6% dipped 4 cents to US$1.05 trading 40 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading down on JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Tuesday, with the volume of stocks changing hands declining 52 percent and valued 65 percent lower than on Monday, resulting in nine securities traded, compared to eight on Monday, with one rising, five falling and three ending unchanged.
Overall, 256,229 shares were traded for US$22,972 down from 534,157 units at US$64,761 on Monday.
Trading averaged 28,470 units at US$2,552, versus 66,770 shares at US$8,095 on Monday, with month to date average of 38,415 shares at US$2,240 compared with 40,361 units at US$2,179 on the previous day. December ended with an average of 39,679 units for US$1,494.
The JSE US Denominated Equities Index lost 5.76 points to end at 226.02.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.5. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November 2022 to August 2023.
Investor’s Choice bid-offer indicator shows three stocks ended with a bid higher than the last selling prices and three with lower offers.
At the close, First Rock Real Estate USD share shed 0.02 of a cent after ending at 7.85 US cents after 5,042 shares passed through the market, Margaritaville climbed 0.4 of a cent to end at 14.4 US cents in exchanging 98,829 stocks, Productive Business Solutions ended at US$1.70 in switching ownership of 6 units. 
Proven Investments dropped 0.09 of a cent in closing at 19.8 US cents with a transfer of 35,252 stock units; Sterling Investments declined 0.16 of one cent to 1.9 US cents with the swapping of 4,898 units, Sygnus Credit Investments USD share remained at 10 US cents after exchanging 10,010 stocks and Transjamaican Highway dipped 0.07 of a cent to 0.9 of one US cent after 102,168 shares were transferred.
In the preference segment, JMMB Group 5.75% remained at US$1.7365 after a transfer of 5 stock units and JMMB Group 6% fell 1 cent to close at US$1.09 after finishing trading 19 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading jumps for JSE USD Market
Trading picked up sharply on the Jamaica Stock Exchange US dollar market on Monday, with the volume of stocks changing hands rising 92 percent and the value surging 472 percent more than on Friday, resulting in eight securities traded, compared to 13 on Friday with prices of four rising, three declining and one ending unchanged.
A total of 534,157 shares were traded for US$64,761, up sharply from 278,776 units at US$11,314 on Friday.
Trading averaged 66,770 shares at US$8,095 compared with 21,444 units at US$870 on Friday, with month to date average of 40,361 shares at US$2,179 compared with 34,801 units at US$934 on the trading previous day. December ended with an average of 39,679 units for US$1,494.
The JSE US Denominated Equities Index lost 2.03 points to end at 231.78.
The PE Ratio, a measure used in the computation of appropriate stock values, averages 8.6. The PE ratio uses ICInsider.com earnings forecasts for financial years between November and August 2023.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and four with lower offers.
At the close, First Rock Real Estate USD share climbed 0.11 of a cent to close at 7.87 US cents after a transfer of 441 shares, MPC Caribbean Clean Energy dipped 5 cents in closing at 60 US cents in exchanging 360 units, Proven Investments increased 0.59 of one cent in ending at 19.89 US cents, with 319,970 stock units clearing the market. 
Sygnus Credit Investments USD share rallied 0.01 of a cent to 10 US cents in trading 9,000 stocks, Sygnus Real Estate Finance USD share slipped 0.01 of a cent to 12.47 US cents in an exchange of 1,000 shares and Transjamaican Highway ended at 0.97 of one US cent after an exchange of 203,141 units.
In the preference segment, Productive Business 9.25% preference share shed US$1.45 to end at US$10.55 after 200 stock units passed through the market and JMMB Group 5.75% rose 22.65 cents to US$1.7365, with 45 stocks changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Steady week for ICTOP10
The Jamaica Stock Exchange pulled back from the pre new year’s bounce enjoyed in the last two weeks of 2022 and still retained some of those gains as trading commenced in the new year, with activity in the ICTOP10 quite muted and resulting in no new entrant to the Top Stock list, but there were a few outstanding price movements.
Junior Market action resulted in General Accident popping 11 percent to $4.91, followed by Lasco Distributors with a 5 percent rise to $2.63, but Paramount Trading lost 23 percent to close at $1.53 in a week when only three stocks declining, with the others slipping just one percent.
In the Main Market, Guardian Holdings dropped 8 percent to $524 and Jamaica Broilers fell 4 percent to $29.61 and were the only notable price changes.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.6, well below the market average of 14.4. At the same time, the Junior Market Top 10 PE sits at 6.1 versus the market at 12.7, important indicators of the level of the undervaluation of the ICTOP10 stocks. 
The Junior Market is projected to rise by 231 percent and the Main Market TOP10, an average now of 278 percent, to May 2023.
The Junior Market has 15 stocks, 32 percent of the market, with PEs from 15 to 32, averaging 19 compared with the above average of the market. The top half of the market has an average PE of 18 and shows the extent of potential gains for the TOP10 stocks. The situation in the Main Market is similar, with the 19 highest valued stocks priced at a PE of 15 to 100, with an average of 31 and 23 excluding the highest valued ones and 26 for the top half excluding the highest valued stock.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market but not always. 
ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2023 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate, resulting in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Look out for the 2023 TOP15 stock listing that is coming soon.
Persons who compiled this report may have an interest in securities commented on in this report.
Flat trading on JSE USD market
The Jamaica Stock Exchange US dollar market closed Thursday, with no change to the market index following activities that led to the volume of stocks changing hands falling 12 percent with a 170 percent increase in value than on Wednesday, resulting in trading of 11 securities, compared to seven on Wednesday with five rising, three declining and three ending unchanged.
A total of 40,710 shares were traded for US$9,508 compared to 46,347 units at US$3,524 on Wednesday.
Trading averaged 3,701 units at US$864 versus 6,621 shares at US$503 on Wednesday, with month to date average of 41,747 shares at US$966 compared with 71,640 units at US$1,047 on the previous day. December ended with an average of 39,679 units for US$1,494.
The JSE US Denominated Equities Index ended unchanged at 233.85 points.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.6. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November and August 2023.
Investor’s Choice bid-offer indicator shows no stock ended with a bid higher than the last selling price and four with lower offers.
At the close, First Rock Real Estate USD share gained 0.1 of a cent in closing at 7.7 US cents with 150 shares changing hands, Margaritaville ended at 14 US cents with a transfer of 708 units, MPC Caribbean Clean Energy popped 4 cents to close at 65 US cents with an exchange of 2,501 stock units. Productive Business Solutions fell 0.01 of one cent to US$1.8039 with 100 stocks clearing the market, 
Proven Investments lost 0.79 of one cent in ending at 18.51 US cents after trading 15,867 shares, Sterling Investments rose 0.11 of a cent to close at 2.08 US cents with the swapping of 61 stocks. Sygnus Credit Investments J$ share remained at 13.62 US cents after 30 stock units passed through the market, Sygnus Credit Investments USD share ended at 9.99 US cents with 183 units changing hands and Transjamaican Highway gained 0.02 of a cent to end at 0.97 of one US cent after exchanging 20,744 units.
In the preference segment, Productive Business 9.25% preference share popped 95 cents to US$12 with an exchange of 365 stock units and Eppley 6% preference share dipped 1 cent and ended at US$1.07 after a transfer of one stock.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading drops on the JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Wednesday, with a 95 percent fall in the volume of stocks changing hands valued at 68 percent less than on Tuesday and resulting in seven securities traded, similar to Tuesday with three rising and four declining.
A total of 46,347 shares were traded for US$3,524 compared with 956,617 units at US$11,129 on Tuesday.
Trading averaged 6,621 shares at US$503, down from 136,660 shares at US$1,590 on Tuesday, with the month to date averaging 71,640 shares at US$1,047. December ended with an average of 39,679 units for US$1,494.
The JSE US Denominated Equities Index dipped 0.57 points to end at 233.85.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.6. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November and August 2023.
Investor’s Choice bid-offer indicator shows none ended with a bid higher than the last selling prices and two with a lower offer.
At the close, First Rock Real Estate USD share declined 0.18 of a cent to 7.6 US cents, with 1,371 shares crossing the exchange, Margaritaville rallied 0.01 of a cent after ending at 14 US cents trading 700 units, 
Proven Investments lost 0.44 of one cent in closing at 19.3 US cents as 12,671 stock units changed hands. Sterling Investments dipped 0.03 of a cent to 1.97 US cents with a transfer of 26,126 stocks, Sygnus Credit Investments USD share popped 0.58 of one cent to close at 9.99 US cents in switching ownership of 150 shares and Transjamaican Highway fell 0.02 of a cent to 0.95 of one US cent with 5,048 stock units changing hands.
In the preference segment, JMMB Group 6% increased by 3 cents ending at US$1.10 after exchanging 281 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.