TTSE: Trading picks up on Monday’s

Tuesday, 30th July 2013 | Activity picked up over the low level of Monday as trading took place in 10 securities of which 1 advanced, 6 declined and 3 traded firm. A volume of 456,515 shares crossed the floor of the Exchange valued at $9.59 million.

Jamaica Money Market Brokers traded 144,900 shares at a value of $65,205, Scotiabank Trinidad & Tobago had 115,770 shares traded for $8,106,215 as the stock closed back to $70.02 loosing 98 cents at the end of trading. Grace Kennedy contributed 93,471 shares with a value of $317,801 and lost 9 cents, the worse in the market and in the process closed at $3.40, while National Commercial Bank added 30,000 shares valued at $35,400. Clico Investment Fund, posted a volume of 40,580 shares valued at $866,789

IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 4 stocks were higher than their last selling price, there were no stocks having offers that were lower.

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FX: Buying tops selling by US$6M

Monday, 29th July 2013 | Monday was a buoyant day in Forex trading, as buying exceeded selling of all the currencies by US$6 million and the actual trading of US dollars resulted in $42.5 million being purchased and $37.64 being sold at rate that were very close to the closing rate on Friday.

There was more Canadian selling than buying as the buying rate moved up by 12 cents to $98.34 and the selling rate by 10 cents to $99.94. The Pound sterling closed at a selling rate of J$156.40 to a Pound as it lost 18 cents in the process while buying took place by authorised dealers at J$153.40 $1 less than on Friday.

Highest rates traded in buying the currencies were for the US dollar $102.50 up 35 cents, Canadian $99.75 down 25 cents, Pound sterling $157.10 an increase of 33 cents while the lowest buying rates were the US dollar $83.50 no change, Canadian $79.85, up 25 cents and the Pound sterling $126.58 up 75 cents.

Highest rates traded in selling the currencies were for the US dollar $107.21 up 21 cents, Canadian $102.93, Pound sterling $163.17 while the lowest selling rates were the US dollar $83.67 down $14.83, Canadian $94.12 down 38 cents and Pound sterling $149.40 a reduction of $2.10.

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JSE: Advancing stocks clobbered

Monday, 29th July 2013 | Trades on the Jamaican stock market amounted to 4 million units with a value of $97.18 million of which Grace Kennedy accounted for more than 25 percent of the volume and $65 million of the total value of trading.

There were only 4 stocks advancing stocks while 13 declined as 25 companies participated in trading. All the indices with price movements lost value as the junior market lost the most with a 2.75 percent decline. The rest of the indices fell by less than a half of one percent.

Main market trades of note | The all Jamaica Index shed 359.38 points to close at 87,362.77 and the JSE market index fell by 204.26 to close at 86,482.76.

The Carreras sell off continues as investors sold another 362,919 units, down to $51.51 as the stock closed with the last traded price at $51.70 and the total value traded $18.73 million. Today’s trading seems to leave $51 exposed as the next price barrier. Thereafter it looks like $50 is next, but the demand at that price is not great. Other than Grace Kennedy which traded 1.16 million shares, others to post good volumes were Desnoes & Geddes, traded 284,557 units while closing at $4.77, Jamaica Broilers 121,465, trading at $5, Jamaica Money Market Brokers 129,000 between $8 and $8.10 and closing at $8.10, National Commercial Bank 59,326 as the stock closed at $19.50 down 6 cents, Scotia Group 195,392 and closed at $21.15 off by 5 cents.

The ordinary shares of Jamaica Stock Exchange is yet to trade since last week’s listing, the stock now has a bid at $3.25 and an offer at $3.45.

Junior market | Eppley shares that was the subject of an IPO last week was listed today, the fastest such listing since the junior market started. There were no trades nor buyers or sellers positioning to trade so far.

Nine stocks traded, with 6 declining and none gaining as the index fell 22.62 to 801.15. The three Lasco companies released results for the first quarter to June, with Lasco Distributors recording profit gains of 21 percent to reach $164.7 million. The stock traded a low volume of 174,127 units to close at $1.50, off just a cent. Lasco Financial recorded 50 percent gain in profit to reach $39.35 million. The stock traded 253,450 units and lost 8 cents to close at $1.52. Lasco Manufacturing reported profit decline of 10 percent in recording profit of $138.75 million. KLE Group lost a further 29 cents as the stock closed at $2 as only 1,000 units traded, a new low.  General Accident traded 142,265 units at $1.93 and Caribbean Producers 56,768 units at $2.03.

Proven Investment Preference shares traded 411,400 units valued at $2.1 million, there was no trades of the ordinary shares which are quoted in US dollar.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 5 stocks were higher with 4 stocks having offers lower than their last selling price.

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TTSE: Slow trading but Republic hits $111

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Monday, 29th July 2013 | On a day when Republic Bank closed at a last selling price of $111, up 99 cents and a new 52 weeks high with 5,140 shares trading valued at $565,590, only 5 stocks were active of which 3 advanced, 1 declined and 1 traded firm.  A total of 148,257 shares traded for a value of $3.4 million on the Trinidad market.

Trading activity on the main market accounted for 49,669 shares crossing the floor valued at $1,315,148.13. LJ Williams B shares traded 25,000 units for a value of $18,250 as the stock shed 11 cents to close at 73 cents, a new 52 weeks low. Neal & Massy Holdings with a volume of 11,577 shares accounted for $682,801. Sagicor Financial Corporation contributed 7,952 shares with a value of $48,507. Clico Investment Fund gained 6 cents to end the day at $21.36 while 98,588 shares valued at $2,105,454 changed hands.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 4 stocks were higher with 2 stocks having offers lower than their last selling price.

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Ready. Set. Go!

Monday, 29th July 2013 | The earnings season has begun! Over the next few weeks, our IC Insider analysts will be busy scouring over company quarterly reports, crunching the numbers and calling it as we see it.

As in any race to perform, there will be winners and losers. The markets will be sure to respond and with the JSE and TTSE having a limited supply of some stocks, the bulls could be on the run.

Buy Rated Stock | Of the 5 company quarterly reports reviewed to date, 3 have been added to our Buy Rated list. National Commercial Bank, One Caribbean Media and Berger TT have interesting story lines that could improve your wealth health.

Better than a broker’s ‘buy’ recommendation, IC Insider has no vested interest in any stock transaction or conflict of interest. Our research is backed by published reports of the company’s performance and insights of future earnings that can be found at ICInsider.com. The final decision to buy, or not, is your personal choice.

Related posts | NCB recovers from NDX hit | OCM profits growth slows | Berger TT profit poised for big gain

To search for published reports for a Buy Rated stock on IC Insider, please use ‘Search IC Insider’ and enter the company name, in full or in part.

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T&T PE chart show bargains

The stock market in Trinidad is not very active partly due to prices of many of the stocks that are too high for that market creating lack of liquidity. The PE chart shows that there are a number of undervalued stocks that investors can made good money from. Top amongst them is Trinidad Cement with a PE of just two even after the price is up nearly 40 percent since July. For the rest of the manufacturing sector, Unilever is at 22, West Indian Tobacco is at 27 but national Flour is at 6 and Berger at 7.

In the financial sector, BNS is selling at a price earnings ratio of 23 while Guardian Holdings is at 8, Republic Bank is at 15 and National Enterprises at 16. Conglomerates Neal and Massy is at 11 compared to Ansa Mcal at 17. In media, Guardian Media is at 22 but One Caribbean is only at 13.

The graphs below highlights the potential gains for those that appear to be undervalued.

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FX: More FX purchased than sold

Friday, 26th July 2013 | In today’s forex trading, the equivalent of US$31.25 million amount of currency was purchased and $27.34 million was sold.

The Jamaican dollar closed at a selling rate of $101.85 to the US dollar, 2 cents more than on Thursday and authorised dealers purchased the US dollar for 100.30, up 10 cents on Thursday’s close. The Canadian dollar closed at a selling rate of $99.84, up $1.10 and authorised dealers purchased the Canadian dollar for $98.22, $1.58 more than the previous close.  The Pound sterling closed at a selling rate of J$156.58, which was 59 cents greater than the closing rate on Thursday while buying took place at 49 cents less at J$154.40.

Highest rates traded in buying the currencies were for the US dollar $102.15, down 20 cents, Canadian $100, down 46 cents, the Pound sterling $ 156.77 up 37 cents, while the lowest buying rates were the US dollar $83.50 the same rate as the day before, Canadian $79.60, up 33 cents and the Pound sterling declined by 41 cents to $125.83.

Highest selling rates were for the US dollar $107 no change, Canadian $102.67 no change, Pound sterling $ 160.07, an increase of $1.35 and the lowest selling rates were the US dollar $98.50 up $15, Canadian $94.50 down $1 and the Pound sterling $ 151.50 up $4.75.

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TTSE: Unilever up, Clico down

Friday, 26th July 2013 | Overall market activity resulted from trading in 10 securities of which 2 advanced, 5 declined and 3 traded firm.

Trading activity on the First Tier Market registered a volume of 109,697 shares crossing the floor valued at $1,314,622.32. Sagicor Financial Corporation was the volume leader with 63,270 shares changing hands for a value of $385,947, followed by National Flour Mills with a volume of 30,000 shares being traded for $22,495. Unilever Caribbean contributed 9,789 shares with a value of $538,776, while Scotiabank Trinidad added 3,920 shares valued at $274,439.20.

Unilever Caribbean enjoyed the day’s largest gain, increasing $0.71 to end the day at $55.04.

Clico Investment Fund was the only active security on the Mutual Fund Market, posting a volume of 47,705 shares valued at $1,016,167.50 suffered the day’s greatest loss declining by $0.20 to end at $21.30.

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JSE: Market cooled but will it last?

Friday, 26th 2013 | The market cooled off today as only the stocks of 21 companies traded, resulting in a volume of 5,305,431 valued at $35.1 million. There were 8 stocks advancing and 6 declining. The prices of two stocks reached all-time highs and two others made a 52 weeks high by the end of the day.

Main Market trades of note| The all Jamaica Index shed 650.92 points to close at 87,772.15 and the JSE market index fell by 369.94 to close at 86,687.02.

Carreras traded 152,000 shares as the price closed at $52, off 25 cents from the last traded price on Thursday. Jamaica Money Market Brokers (JMMB) traded 1 million shares and lost 49 cents to close at $8 after trading as high as $8.50. National Commercial Bank after posting 92 cents earnings for the June quarter and $2.76 for the fiscal year to date, traded only 31,600 units to close at $19.56 after trading up to $20. Currently, the supply of this stock is limited. Pan Jamaican Investment Trust traded 19,600 units at $52, up 49 cents for the day. Scotia Group (SGJ) with a volume of 135,000 shares, traded between $21.11 and $21.50, the stock closed at $21.20 with no change in the last selling price. Supreme Ventures climbed 9 cents to $3.10, a 52 weeks high, with 176,000 shares trading.

The Jamaica Stock Exchange ordinary shares, the subject of an initial Public offering (IPO) in early July, was listed on Tuesday, is yet to find a compromise price for a willing buyer or seller. The stock closed the week with a bid of $3 for 97,000 shares and an offer at $3.45 by the same broker, Stocks & Securities the sponsoring broker for the IPO, which was priced at $2.85.

Junior market | 8 stocks in the junior market traded with the index moving up by 7.52 points to 823.77. The coming week could be telling for this market with the three Lasco companies releasing results on Monday. Access Financial Services gained 40 cents as 2,100 units changed hands to close at an all-time high of $9. AMG Packaging lost 25 cents while trading 3,900 units to close at $4. Dolphin Cove traded 20,500 units to close at a 52 weeks high of $9.10, gaining 40 cents for the day.  Lasco Financial moved up to an all-time high of $1.60, gaining 15 cents for the day while trading 380,206 shares. At the close, there was 1 million shares on offer at $1.60. Lasco Manufacturing traded 788,400 shares lost 10 cents to close at $1.60.

Proven Investment Preference shares traded 2.2 million units valued at $11.38 million, while there was no trading in the ordinary shares which are quoted in US dollars.

Market intelligence | Earnings season has begun for the second quarter results and are likely to impact trading over the next few weeks and could well impact stocks for the rest of the year.

jse_logo150x150Results dates | On Thursday, National Commercial Bank (NCB) released results that could encourage buying of the stock. On Friday Mayberry released their’s, after trading closed. Monday is the day all three Lasco companies are expected to release figures for the first quarter. These are important as they will send a message about likely 2014 earnings since there have been no new profit figures to positively guide investors for the new fiscal year about valuation of the stocks. Sagicor Investments and Grace Kennedy are also expected to release their results by the end of the coming week.

Cable & Wireless remains under pressure with offers in excess of 28.7 million shares at 15 cents overwhelming what little demand there is for the stock. The demand has not changed much for the last three weeks as the supply is barely being eaten away. Desnoes & Geddes is stuck for the time between $4.65, where there are a few good bids, and $5.18 where a 1 million shares are on offer. Offers below $5.50 seems to have dried up for Jamaica Broilers; bidders who exposed their hands are not yet very aggressive, with bids mostly below $4.50. There are however, a few offers between $7.67 and $5.40, the next is at $13.50 for 800,000 units.

JMMB supply and demand seem fluid presently with some selling at $9 and under. At the end of trade on Friday, there were only 428,000 units of NCB on offer between $20.99 and $35 against 1.3 million units of bids from a low of $10 to $19.55. A bid for 4,549,573 Radio Jamaica shares at $1.23 remains in the system with very moderate supply. Supply of Sagicor Life is just over 300,000 units up to $15, demand is over 2 million above $7, SGJ has 876,000 shares on offer between $21.20 to $21.25 and $33, and demand for 1.17 million units from $14 to $21.12. Scotia Investment has limited demand and a few more offers close to the trading price but there are 6 million units on offer at $30. Supreme Ventures has only two offers amounting 22,400 units and good demand from $2.75 to $3. Carreras still has selling but there are still investors prepared to buy above $50 but those could be taken out in the coming week depending on exactly how much selling there still is.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator shows that bids for 5 stocks were higher with 2 stocks having offers lower than their last selling price, thus keeping the bullish bias in place.

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FX: Buying picks up, selling flat

Thursday, 25th July 2013 | In Thursday’s forex trading, buying of foreign currencies exceeded selling by nearly US$7 million compared with nearly US$3 million on Wednesday. Authorised dealers purchased the equivalent of US$35.8 million and sold US$28.98.

They purchased US$30.96 million in US dollar currency and sold US$25.7 million with the average rate edging up slightly by a few cents for both the buying and selling rates. The Canadian dollar rates that were up on Wednesday, put on 97 cents on the buying rate and 48 cents on the selling rate and saw $1.75 and $1 being slashed off the rates respectively. The average rate for the Pound put on $1.36 for the buying rate and lost 32 cents for the selling rate.

The highest and lowest rates were relatively stable except for the Pound where the highest buying rate fell by 30 cents to close at $156.40, the highest selling rate fell 79 cents to close at $158.72 and the lowest selling rate dropped by $5.25 to $146.75.

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