Trading on Thursday, with the volume of stocks traded falling 78 percent with 99 percent less value than on Wednesday, to close the Jamaica Stock Exchange US dollar market, resulting in seven securities traded, the same as on Wednesday with none rising, three declining and four ending unchanged.
The JSE US Denominated Equities Index lost 0.07 points to end at 215.90. The PE Ratio, a measure used in computing appropriate stock values, averages 9.3. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending up to August 2023.
Overall, 234,994 shares traded for US$7,758 compared to 1,086,150 units at US$718,478 on Wednesday. Trading averaged 33,571 units at US$1,108, compared to 155,164 shares at US$102,640 on Wednesday, with month to date average of 78,039 shares at US$9,589 versus 80,746 units at US$10,105 on the previous day. May ended with an average of 47,916 units for US$3,528.
Investor’s Choice bid-offer indicator shows three stocks ended with a bid higher than the last selling prices and one with a lower offer.
At the close, First Rock Capital USD share remained at 7.49 US cents while trading 2,690 shares, 
MPC Caribbean Clean Energy finished at US$1.38, with two units crossing the exchange, Proven Investments lost 0.86 of a cent to end at 25.04 US cents with 20,590 stock units changing hands. Sterling Investments dropped 0.03 of a cent to 2.07 US cents after trading 33,201 stocks, Sygnus Credit Investments USD share ended unchanged at 12.94 US cents in an exchange of 21 stock units, Sygnus Real Estate Finance USD share ended at 11.5 US cents in exchanging 75 shares and Transjamaican Highway slipped 0.07 of a cent to 0.93 of one US cent in trading 178,415 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Steady trading for JSE USD market
Trading surge for JSE USD market
Trading jumped sharply on Wednesday, on the Jamaica Stock Exchange US dollar market with the volume of stocks traded rising 611 percent higher and the value surging 6,323 percent over trading on Tuesday, resulting in seven securities trading, compared to four on Tuesday with two rising, three declining and two unchanged.
The JSE US Denominated Equities Index gained 3.42 points to end at 215.97.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.4. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending, up to August 2023.
A total of 1,086,150 shares traded for US$718,478 versus 152,805 units at US$11,186 on Tuesday. Trading averaged 155,164 units at US$102,640, compared to 38,201 shares at US$2,797 on Tuesday, with month to date average of 80,746 shares at US$10,105 versus 75,922 units at US$4,107 on the previous day. May ended with an average of 47,916 units for US$3,528.
Investor’s Choice bid-offer indicator shows two ended with a bid higher than the last selling prices and one stock with a lower offer.
At the close, First Rock Capital USD share remained at 7.49 US cents, with 2,290 shares crossing the exchange, 
MPC Caribbean Clean Energy ended at US$1.38 with an exchange of 7 stock units, Productive Business Solutions shed 1 cent to close at US$1.14, with 612,721 stocks crossing the market. Proven Investments advanced 0.88 of one cent to close at 25.9 US cents after 54,605 units changed hands, Sygnus Credit Investments USD share declined 0.03 of a cent to end at 12.94 US cents in an exchange of 13,056 units and Transjamaican Highway gained 0.05 of a cent to end at 1 US cent after exchanging 402,835 stock units.
In the preference segment, JMMB Group 6% dropped 4 cents to close at US$1.01, with 636 stocks changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Fall for JSE USD market
Trading activity dropped on the Jamaica Stock Exchange US dollar market on Tuesday, with the volume of stocks trading declining 54 percent and the value down 76 percent from Monday, resulting in more stocks falling than rising.
Four securities traded, down from eight on Monday, with one rising, two declining and one ending unchanged. The JSE US Denominated Equities Index lost 1.28 points to end at 212.55.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.3. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending up to August 2023.
Overall, 152,805 shares traded for US$11,186, down from 335,526 units at US$46,352 on Monday. Trading averaged 38,201 units at US$2,797, compared to 41,941 shares at US$5,794 on Monday, with a month to date average of 75,922 shares at US$4,107 versus 77,373 units at US$4,158 on the previous day. May ended with an average of 47,916 units for US$3,528.
Investor’s Choice bid-offer indicator shows two ended with higher bids than the last selling prices 
and two stocks with lower offers.
At the close, Proven Investments fell 0.98 of one cent to 25.02 US cents in trading 40,231 shares, Sygnus Credit Investments USD share declined 0.02 of a cent in closing at 12.97 US cents after 668 stocks changed hands, Sygnus Real Estate Finance USD share remained at 11.5 US cents after an exchange of 752 shares and Transjamaican Highway rose 0.11 of a cent to close at 0.95 of a US cent with an exchange of 111,154 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Gains for USD market as more stocks rise
The value stocks trading on Monday surged 232 percent on the Jamaica Stock Exchange US dollar market, but the volume was mildly higher and trading closed with eight active securities, the same as Friday, with three rising, one declining and four ending unchanged.
The JSE US Denominated Equities Index rose 2.90 points and closed at 213.83.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.10. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending up to August 2023.
Overall, 335,526 shares traded, for US$46,352 versus 320,625 units at US$13,970 on Friday. Trading averaged 41,941 units at US$5,794, compared to 40,078 shares at US$1,746 on Friday, with a month to date average of 77,373 shares at US$4,158 versus 80,326 units at US$4,021 on the previous day. May ended with an average of 47,916 units for US$3,528.
Investor’s Choice bid-offer indicator shows three stocks ended with higher bids than the last selling prices and none with a lower offer.
At the close, First Rock Capital USD share ended at 7.49 US cents with an exchange of 37 shares, MPC Caribbean Clean Energy remained at US$1.38 while exchanging one stock unit, 
Proven Investments rose 0.5 of a cent to end at 26 US cents in an exchange of 48,190 stock units. Sterling Investments dropped 0.02 of one cent to close at 2.1 US cents, with 577 units changing hands, Sygnus Credit Investments USD share advanced 0.79 of a cent in closing at 12.99 US cents in switching ownership of 260,908 units, Sygnus Real Estate Finance USD share finished at 11.5 US cents after an exchange of 850 stocks and Transjamaican Highway climbed 0.03 of one cent to close at 0.84 of a US cent with 24,962 shares traded.
In the preference segment, JMMB Group 6% remained at US$1.05 in exchanging one stock unit.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
New ICTOP10 entrants
Dolla Financial a former ICInsidertop10 stock fresh from the recent IPO, was listed on Wednesday and was the highlight of the Jamaica Stock Exchange, with the stock jumping 132 percent pushed by extremely high demand, with just modest selling, with indications the price may need to be in the $3 to $4 range to evoke greater balance between buyers and sellers.
Investors with a longer term investment target of over two years or more may find the potential growth prospects exciting and pay off well at the above prices.
The week ended with two new listings in the TOP10, but half of the Junior Market stocks recorded gained and 4 in the Main Market.
Junior Market stocks with worthwhile gains this past week are Dolphin Cove, with the price rising 14 percent to $17.61, Stationery and Office Supplies up 13 percent to $12.45, AMG Packaging up 10 percent to $3.94 and Caribbean Cream 5 percent to $4.98. Medical Disposables dropped 16 percent to $6.26.
In the TOP10 Main Market, Caribbean Cement lost 8 percent to $64.50 and Guardian Holdings fell 5 percent to $510.
Dolphin Cove and Stationery and Office Supplies dropped out of the Junior Market TOP10 and were replaced by CAC 2000, got an earnings upgrade to $1.32 after the company reported a profit of $47 million or 36 cents per share for the April quarter with the company reporting solid second quarter profit of $14 million for the six months to April from $8.7 in 2021 and Lasco Distributors.
The average PE for the JSE Main Market TOP 10 ends the week at 6.2, well below the market average of 14.1, while the Junior Market PE for the Top 10 is 5.8 versus the market at 13.2. The Junior Market TOP10 is projected to gain an average of 249 percent to May 2023 and the Main Market 243 percent.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. 
ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks will likely deliver the best returns up to the end of May 2023. They are ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios 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.
Trading picks up for JSE USD market
Trading on Friday ended with the volume of stocks changing hands rising 61 percent over Thursday as 11 percent more funds entered the Jamaica Stock Exchange US dollar market, resulting in eight securities traded, similar to Thursday, with two rising, three declining and three ending unchanged.
The JSE US Denominated Equities Index dipped 3.59 points to end at 210.93.
The PE Ratio, a measure used to compute appropriate stock values, averages 9, The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending, up to August 2023.
A total of 320,625 shares traded amounting to US$13,970 compared to 199,358 units at US$12,579 on Thursday. Trading averaged 40,078 units at US$1,746 compared to 24,920 shares at US$1,572 on Thursday, with a month to date average of 80,326 shares at US$4,021 versus 83,984 units at US$4,228 on the previous day. May ended with an average of 47,916 units for US$3,528.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, First Rock Capital USD share remained at 7.49 US cents, with 3 shares crossing the market, 
Margaritaville ended at 14.99 US cents with an exchange of 30 stocks, Proven Investments climbed 0.48 of a cent in ending at 25.5 US cents in switching ownership of 30,832 stock units. Sterling Investments gained 0.2 of a cent in closing at 2.12 US cents with the swapping of 2,823 units, Sygnus Credit Investments USD share finished at 12.2 US cents trading 11,698 stocks, Sygnus Real Estate Finance USD share lost 0.5 of one cent to end at 11.5 US cents in exchanging 23,408 units and Transjamaican Highway dropped 0.17 of a cent to 0.81 of a US cent in an exchange of 251,830 stock units.In the preference segment, JMMB Group 5.75% shed 5 cents in ending at US$2.25 after trading just one share.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Fall for JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market on Thursday, ended with the volume of stocks traded rising 69 percent, with a 63 percent drop in value than Wednesday, as eight securities were traded, up from six on Wednesday with three rising, three declining and two ending unchanged.
The JSE US Denominated Equities Index lost 3.43 points to end at 214.52.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.3. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending, up to August 2023.
Some 199,358 shares traded for US$12,579 compared to 118,104 units at US$34,212 on Wednesday. Trading averaged 24,920 units at US$1,572, compared to 19,684 shares at US$5,702 on Wednesday, with a month to date average of 83,984 shares at US$4,228 versus 89,891 units at US$4,494 on the previous day. May ended with an average of 47,916 units for US$3,528.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than the last selling prices and one with a lower offer.
At the close, First Rock Capital USD share rallied 0.49 of a cent to 7.49 US cents, with 6,497 shares crossing the market, Margaritaville declined 0.01 of one cent to close at 14.99 US cents with the swapping of 12,982 stock units, Productive Business Solutions traded 1,297 stock units at US$1.15. 
Proven Investments shed 0.97 of a cent in closing at 25.02 US cents after exchanging 27,032 units, Sterling Investments dropped 0.25 cents to 1.92 US cents with 23,369 stock units changing hands, Sygnus Credit Investments USD share ended at 12.2 US cents after exchanging 2,014 stocks and Transjamaican Highway gained 0.07 of a cent after ending at 0.98 US cents in trading 126,115 units.
In the preference segment, JMMB Group 6% rose 4 cents to close at US$1.05 with the exchange 52 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Volume up, prices down on JSE USD market
Trading picked up on Wednesday, with the volume of stocks traded rising 32 percent, with a more than doubling in the value that rose 120 percent more than on Tuesday, on the Jamaica Stock Exchange US dollar market, resulting in more stocks falling than rising at the close.
A total of six securities traded, compared to five on Tuesday with two rising, four declining and no ending unchanged. The JSE US Denominated Equities Index fell 1.02 points to 217.95.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.1. The PE ratio uses ICInsider.com earnings forecasts for companies with their financial year ending, up to August 2023.
Overall, 118,104 shares were traded, for US$34,212 up from 89,436 units at US$15,551 on Tuesday. Trading averaged 19,684 units at US$5,702, compared to 17,887 shares at US$3,110 on Tuesday, with month to date average of 89,891 shares at US$4,494 versus 95,583 units at US$4,396 on the previous day. May averaged 47,916 units for US$3,528.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than the last selling prices and two stocks with lower offers.
At the close, First Rock Capital USD share shed 0.4 of a cents to end at 7 US cents with the swapping of 28,483 shares, Proven Investments rallied 0.97 of one cent in ending at 25.99 US cents after trading 5,000 units, Sterling Investments advanced 0.25 of a cent to 2.17 US cents, as 250 stocks changed hands. Sygnus Credit Investments USD share declined 0.19 of a cent to close at 12.2 US cents while exchanging 275 stock units and Transjamaican Highway fell 0.07 of a cent in closing at 0.91 of one US cent in an exchange of 54,096 units.
In the preference segment, JMMB Group 6% lost 4 cents to close at US$1.01 after trading 30,000 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Slippage for the JSE USD market
The volume of stocks trading jumped 176 percent with the value surging 278 percent above trading on Monday at the close of the Jamaica Stock Exchange US dollar market on Tuesday, resulting in five securities traded, down from seven on Monday with one rising, three declining and one ending unchanged.
The JSE US Denominated Equities Index lost 1.51 points to close at 218.97.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.3. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending, up to August 2023.
Overall, 89,436 shares traded, for US$15,551 compared to 32,360 units at US$4,111 on Monday. Trading averaged 17,887 units at US$3,110, compared to 4,623 shares at US$587 on Monday, with the month to date average of 95,583 shares at US$4,396 versus 101,214 units at US$4,489 on the previous day. May ended with an average of 47,916 units for US$3,528.
Investor’s Choice bid-offer indicator shows one ended with a bid higher than the last selling prices and two stocks with lower offers.
At the close, First Rock Capital USD share dropped 0.1 of a cent in ending at 7.4 US cents with the swapping of 102 shares, Proven Investments fell 1.23 cents to 25.02 US cents in an exchange of 58,051 stock units, Sygnus Credit Investments USD share rallied 0.39 of one cent to close at 12.39 US cents with 3,284 units crossing the exchange and Transjamaican Highway ended unchanged at 0.98 US cents after trading of 27,998 stocks.
In the preference segment, JMMB Group 6% declined 3 cents to end at US$1.05, with one unit changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
3 new ICTOP10 listings
The old stock market adage of sell in May and go away continued to influence the market this past week, helped by funds tied up in the Dolla Financial IPO, but most investors should get full refunds early this coming week, as well as the likelihood of the trading commencing in the stock in the latter part of the week.
The week ended with three new listings in the TOP10, as declining stocks dominated the Junior and Main Market.
In the Junior Market, the only worthwhile gain was a 14 percent rise by Paramount Trading to $2. Access Financial shed 6 percent to close at $20.45, stocks that declined by 5 percent each are Lasco Financial to $3.43, Jetcon Corporation to $1.26 and Medical Disposables to $7.45.
For the TOP10 Main Market stocks, Caribbean Cement gained 7 percent to $70 after the company reported a proposed $1.50 dividend payment in August. VM Investments lost 10 percent to $5.30, Berger Paints slipped 3 percent to $11, JMMB Group down 5 percent to $42 and Sygnus Credit Investments dipped 5 percent to $14.11.
Lasco Distributors and Paramount Trading dropped out of the Junior Market TOP10. They were replaced by Dolphin Cove, with the price dropping to $15.40 and Stationery and Office Supplies (SOS).
SOS got an earnings upgrade to $1.70, with first quarter revenues 24 percent ahead of 2019, the previous best quarter before the negative impact of Covid-19, with the full reopening of the economy after, suggesting revenues should be running even further ahead of 2019 for the second quarter onwards. 
Dolphin Cove is benefitting from a resurgence in the tourism industry that is delivering increased revenues compared to 2021. The increased income and cost reduction contribute to a substantial profit increase that will carry over into the first half of 2023. It will enjoy increased revenues since the tourism recovery was not at full force in the first half of this year.
In the Main Market, Caribbean Producers is back, with upgraded earnings for the fiscal year to June 2023 of $2.30 per share that will flow from increased earnings for the year starting in July as it benefits from the recovery in the tourism sectors from which the bulk of its revenues is earned. QWI Investments has dropped out of the ten.
The average PE for the JSE Main Market TOP 10 ends the week at 6.2, well below the market average of 14.6, while the Junior Market PE for the Top 10, is 6 versus the market at 12.9. The Junior Market TOP10 is projected to gain an average of 235 percent to May 2023 and the Main Market 228 percent.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks will likely deliver the best returns up to the end of May 2023. They are ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios 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.