FX: Monday, 20th May 2013

Robust FX trading | The foreign exchange market enjoyed high levels of trade on Monday with the equivalent of US$39.9 million being purchased and US$31.7 million sold. This contrast with last week’s Monday’s trade in which US$47.3 million were purchased and US$50.4 million were sold.

USD | The selling rate for the US dollar slipped from Friday’s close to end at J$99.9592 (Friday J$98.9885) as US$29.64 were sold and US$37.1 million were bought at J$98.428, slightly higher than Friday’s buying rate of J$98.4244.

GBP | £1.24 million were sold to authorized dealers by the public, at an average of J$147.63 while dealers sold £0.71 million, at an average of J$151.3622.  On Friday last, the selling rate was J$150.29, $1.06 less.

CAD | Can$0.84 million were bought at an average of J$94, $1.34 less decline from Friday’s rate of J$95.34. Can$0.46 million were sold on Monday at an average rate of J$96.3, slightly lower than Friday’s trades which took place at J$97.15.

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JSE: Monday, 20th May 2013

Advancing stocks out-do declining ones again Trading picked up today as 4,114,189 units valued at over $67,585,621 were traded. National Commercial Bank 1,037,700 units valued at $19.6 million, Pan Jam traded 400,000 units at a value of $421.4 million, Carreras traded 220,989 units valued at $12.667 million, Dolphin Cove  with 816,710 units amounting to $6.6 million, Lasco Financial Services chipped in with 376,000 units valued at $3 million and General Accident Insurance Company with 505,500 units with value of $900,000. The movement and demand for the Lasco Financial shares comes against the background of earnings that are expected to be much higher than last year and should be released late this week or early next.

Major price movements were Grace falling $1.75 to $58.25, Kingston Wharves up 35 cents to close at a 52 weeks high of $7, Lasco Financial up 30 cents to $8.10 a 52 weeks high, NCB losing 44 cents to $18.55 and Scotia Investments down 50 cents to $23.50.

There was a positive advance/decline ratio of 12 to 5 thus maintaining the mildly bullish trend seen in the last 2 weeks. Supply of stocks at current price levels for the more attractive stocks are proving harder to come by suggesting that buyers will need to up their bid prices if they are to get the quantities they want. The number of stocks with bids above their last sale continue to show up in the market, an indication that sellers not prepared to sell as low as the last selling prices.

The JSE indices moved up moderately with two reflecting no change as no stocks associated with them traded.

JSEINdicesMay20

TTSE: Monday, 20 May 2013

Lackluster trading | And so it was on a day when a mere 8 securities changed hands with 1 advancing, 2 declined and 5 traded firm accounting for just 140,368 units at a value of TT$3.4 million. The market continues to reflect a scenario of stocks in demand but there are no visible sellers and on the other hand there are some stocks that investors want sold but the buyers are not in any haste to buy them at the prices they were last sold at.

Scotia Investments Jamaica was the volume leader with 11,250 shares changing hands for a value of $19,125. Conglomerate ANSA Mcal chipped in with 8,300 shares worth $557,926. Sagicor Financial Corporation contributed 1,980 shares with a value of $13,622, while West Indian Tobacco Company saw 1,972 shares changing hands for a value of $217,019.

Clico Investment Fund suffered the day’s greatest loss, falling $0.06 to close at $21.01 as it traded 123,661 shares valued at $2,597,636.

TTSEMay20

TTSE: Friday, 17th May 2013

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TTSEMay17

JSE: Friday, 17th May 2013

Markets poised for a big run soon? | Advancing stock far outnumbered declining ones as the Jamaica Stock market continues on a bullish note. Fourteen stocks gained to only 4 that declined. Twenty six stocks traded in all.

The market has crossed over a major resistance level just under 85,000 points. Based on market sentiments currently and the shortage of some stocks, it seems only a matter of time for a major breakaway from the current level to take place. That break out could well be next week.

Caribbean Cream trades 1m shares | Newly listed junior market Caribbean Cream traded more than 1 million shares after the stock started trading. Two blocks of 500,000 units were traded at the IPO price of $1. Later in the morning 7,000 units traded at $1.01 the last traded price for the day. At the close, there were 4 orders to purchase 136,445 at $1 and two orders to sell 2,000 units at $1.15 and one order to sell 150,000 units at $1.25.

jse_logo150x150Elsewhere Consolidated Bakeries traded 1.079 million units as low as 90 cents each and Supreme Ventures traded 3.87 million units between $2.75 and $2.95 each. The stock last traded at $2.95. Scotia Group traded 228,455 units while closing down to $20.20 shedding $1.40 in the process. Dolphin Cove traded 249,200 and closed trading at $8.10 and General accident chipped in with 228,187 units valued at $2 million. The stock gained 1 cent. With the company’s first quarter results showing profit gains of 65 percent, demand has come in for it. Proven Preference shares traded 1.4 million units valued at $7 million as investors seek out higher yielding instruments than regular money market ones.

Blue Power traded at $6.80 up 80 cents, it along with Caribbean Cream, traded at all-time highs today. Grace Kennedy which traded at $60 up $2 and Kingston Wharves traded at $6.65 closed at 52 weeks’ highs. Jamaican Producers traded up $2.20 to close at $18.70 but at the end of trade the stock was offered for sale at $17, only 5,000 units traded. National Commercial Bank gained 49 to close at $18.99 on 8,000 units that traded.

Trading took place with 8.4 million units trading at a value of $30 million.

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FX: Friday, 17th May 2013

International FX market | On the foreign exchange market the Japanese yen broke through the 103 barrier this morning as the US dollar was in great demand as economy data out on better than expected. The US dollar rose against all major currencies.

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FX: Thursday, 16th May 2013

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JSE: Thursday, 16th May 2013

Bullish signs are present | The Jamaica stock market registered gains in the main market index as First Caribbean International Bank gained $1.50 to close at $103 while trading just 2,537 shares. The All Jamaica Composite index fell, however, in spite of a positive advance decline ratio. Trading in the market was characterised by heavy cross trading carried out primarily by MVL Stockbrokers. The cross trades helped the volume reach 10.7 million units with a value of $93.9 million.

Two stocks reached 52 weeks high in trading while there was demand for stocks with prices above the last selling price that went unfilled at the end of trading. Blue Power reached $6 up 15 cents with a volume of 913,000 units traded by Mayberry which they bought for their own account. At the end of trading, they had a bid for 200,000 at $6. Kingston Properties traded more than 2 million shares and gained 51 cents to close at $4.51, NCB gained 28 cents to close at $18.50 with 215,300 shares trading. Scotia Investments in its up- today-down-tomorrow shed $3 in trading 452,185 shares with most being a cross and closed at $23.50.

At the close, the junior market looked very bullish as there is a general standoff between buyers and sellers with bids and offers being very wide.

JSEINdicesMay16

TTSE: Thursday, 16th May 2013

TTSE still no aggression | Buyers want stocks to buy in the Trinidad market and some sellers want to sell but there appears to be a standoff with sellers not wanting to part with some of the stocks that are not in great demand at much lower prices that they are offering to sell for. The same seems true for buyers, as there are clearly a shortage of some stocks on the market. The result of this standoff is limited trading and small price changes.

Trading on the main market | 13 securities trading with 5 advancing, none declined and 8 traded firm with a volume of 462,965 shares valued at $10,535,326.98. Conglomerate Ansa Mcal traded 125,000 shares for $8,402,500; Angostura Holdings traded 109,500 shares with a value of $985,479, while First Caribbean International Bank moved 50,000 shares valued at $400,000.

Clico Investment Fund was the only active security on the Mutual Fund Market, posting a volume of 7,447 shares valued at $156,827.

TTSEMay16

FX: Wednesday, 15th May 2013

Wednesday, 15th May 2013

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