JMMB Group traded at a 52 weeks’ closing high od $21.45.
Based on the trading activity for the past few days there seems to be increased interest in JMMB Group shares with a sharply declining supply being offered after the company released its first quarter results and announced that they have commenced commercial banking operations in Jamaica.
On Friday the price closed at $21.50 with 782,460 shares traded, after it traded at $23 in the morning session as supply totally dried up at one stage when only a small volume was on offer at $29, the first this has happened in a long time. At the close less than 240,000 units were offered for sales, with most quoted at $22.50. The group reported pretax profit rising to $995 million from $857 million in 2016 but profit after tax just inched up to $613 million from $590 in 2016.
Cable and Wireless came in for buying but sellers were just as interest in selling, in the end supply on the market has been shrinking. The stock could well see side-ways movement during the week, don’t be surprised if the price moves up as supplies around last week’s closing price recedes. NCB Financial Group has seen the price in Trinidad coming close to the Jamaican price on Friday, with demand still strong in that market and no stock on offer. The closing bid in TTSE suggests upward price movement can be expected. Supply in Jamaica is not great, it’s just that buyers are taking their time to acquire and could well be trying to hold out until close to the release of the full year’s results in early November. There was spirited buying of Barita Investments on Thursday gone, with 163,100 units being snapped up aggressively. There was no follow through of such aggression on Friday. It is anyone’s guess where this one will go, in the days ahead, but it is worth watching. Berger Paints pulled back to $14 during the week, with no announcement from its new parent company about the minority holdings. Ansa McAl announced that they would be making a submission about the 20 percent minority holdings in the Trinidad sister company, with no comments about the operations in Jamaica.
Consolidated Bakeries (Purity) stock could fall during coming week.
There is a fair bit of swing in the price of Stationery and Office Supplies with selling coming in during the week, but with buying more subdued than before. Investors can probably expect the price to swing between $4 and $5 for a while. The price could even falling into the $3 to $4 range depending on how fast sellers want to exit. At least that is what the bids and offers suggest, unless there are some increased buying in the week ahead.
Jamaican Teas after reporting nine months results with increased earnings per share over 2016, traded as high as $5.30 during the day but closed at $5 as increased interest was visible for the stock, suggesting that the price could rise further. Jetcon Corporation continues to attract buying interest after posting doubling of profits for the first six months of 2017 and traded as high as $5.70 before pulling back to $5.50 at the close on Friday, with bids to buy in line with the closing price. Paramount Trading came in for some buying with the price recovering from its fall to $2.50 recently after the company stated that they were I the process of constructing the Lubricant plant with operations to commence later this year. Currently supply below $4 is scanty.
Consolidated Bakeries reported a loss in its June quarter leading to a fall in the stock price. Selling continues with more than 660,000 units on offer at $2.15 and weak bids. Further decline is to be expected.
Revenues at 
The results for 2017 translate to 14 cents per share for the quarter and 22 cents for the half year and should end around 50 cents for the year. With a stock price of $13.75 the market value is a very rich 29 times earnings against a market average of just over 13. The stock which traded as high as $22 earlier this year has been slowly correcting and seems headed lower as investors get a clearer picture of the likely full year’s earnings.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 8 stocks with bids higher than their last selling prices and 3 with lower offers.
Mayberry Investments gained 17 cents to end at $4.17 with 20,000 shares, NCB Financial Group jumped $3.85 to $90.95 with 194,935 shares, PanJam Investment closed at $33 with 171,350 shares, Portland JSX lost 5 cents, closing at $9.25 with 18,400 shares. Proven Investments lost 1 cent to close at $25.01 with 100,000 shares, Pulse Investments eased 1 cent, to $1.94 with 1,780 shares, Radio Jamaica closed at $1.35 with 29,950 shares, Sagicor Group traded 24 cents lower, closing at $31.75 with 10,292 shares, Sagicor Real Estate Fund closed at $12.06 with 500,400 shares, Scotia Group climbed $2.99 to $46.99 with 440,247 shares, Seprod lost 25 cents to close at $29.75 with 143,605 shares, Sterling Investments closed at $13.30 with 160,000 shares, Supreme Ventures closed at a 52 weeks’ high of $8.55 with 5,000 shares after gaining 50 cents. Proven Investments US ordinary shares lost 0.99 US cent and closed at 23.01 US cents with 117,203 units, JMMB Group US 6% preference share closed at US$1.10 with 910 units, Proven Investments 8.25% preference share closed at $5 with 14,527 units, Jamaica Public Service 9.5% preference share closed at $1,302 with 2,000 units and JMMB Group 7.5% preference share lost 1 cent to close at $1.16 with 4,000,000 units.
Trinidad & Tobago NGL traded 20 cents higher to $23.45 with 70,233 shares valued at $1,647,548.
The main market ended trading with an average of 468,705 units valued at $9,377,059 for each security traded compared to an average of 100,124 units valued at $4,478,034. The average volume and value for the month to date ended at 180,487 units with an average value of $3,861,556 compared with an average of 151,666 units with an average value of $3,310,005 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
Mayberry Investments closed at $4 with 6,771 shares, NCB Financial Group dropped $2.90 to $87.10 with 778,034 shares, 1834 Investments closed 9 cents higher at $1.34 with 4,630 shares, PanJam Investment jumped $2 to $33 with 4,350 shares, Portland JSX ended 5 cents higher at $9.30 with 799,300 shares, Radio Jamaica traded 5 cents higher to $1.35 with 46,110 shares, Sagicor Group climbed 99 cents to $31.99 with 93,301 shares, Sagicor Real Estate X Fund rose 1 cent higher to $12.06 with 2,500,000 shares, Scotia Group rose 40 cents to $44 with 4,955 shares, Sterling Investments ended with a loss of 70 cents in closing at $13.30, with 241,935 shares, Supreme Ventures closed 5 cents higher at $8.05 with 3,609,023 shares, JMMB Group 7.5% preference share added 2 cents to close at $1.17 with 311 shares and Proven preference share rose 2 cents to $5 with 3,000 shares.
The Trinidad & Tobago Stock Exchange on Thursday traded 13 securities compared to 14 on Wednesday with the prices of 2 advancing, 5 declining and 6 remaining unchanged.
Republic Financial Holdings with a loss of 1 cent, closed at $101.90 with 1,340 shares. Scotiabank with a loss of 1 cent, to end at $58.02 with 24,775 shares valued at $1,437,558 and Trinidad & Tobago NGL with a loss of 15 cents to $23.25 with 4,270 shares.
The main market ended trading with an average of 100,124 units valued at $4,478,034 for each security traded compared to an average of 123,443 units valued at $3,403,282. The average volume and value for the month to date ended at 151,666 units with an average value of $3,310,005 compared with an average of 157,392 units with an average value of $3,180,224 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
NCB Financial Group closed at $90 with 45,127 shares, 1834 Investments shed 5 cents, to $1.25 with 10,130 shares, PanJam Investment traded 5 cents higher, to $31 with 18,915 shares, Portland JSX ended with a loss of 5 cents, at $9.25 with 10,900 shares. Pulse Investments closed at $1.95 with 25,403 shares, Radio Jamaica declined by 10 cents, to $1.30 with 68,038 shares, Sagicor Group lost 52 cents, to end at $31 with 25,826 shares, Sagicor Real Estate Fund closed at $12.05 with 24,000 shares, Salada Foods closed at $9.50 with 1,158 shares, Scotia Group dropped $2.30 to $43.60 with 112,709 shares, Scotia Investments with a loss of 9 cents, closed at $35.01 with 3,900 shares, Supreme Ventures closed at $8 with 32,900 shares. Proven Investments US ordinary share closed at 24 US cents with 78,570 units, JMMB Group US 6% preference share closed at US$1.10 with 1,400 units, JMMB 7.5% preference share closed at $1.99 with 12,437 units and JMMB Group 7.5% preference closed at $1.15 with 250,000 units.
CAC 2000 ended 35 cents higher to $7.40 with 46,692 shares, Cargo Handlers gained 30 cents to close at $11 with 1,000 shares, Caribbean Cream closed 80 cents higher at $6.70 with 1,877 shares, Consolidated Bakeries lost 24 cents, to close at $2.26 with 221,280 shares, after the company posted a loss in the June quarter on Lower revenues than in 2016. Derrimon Trading fell 90 cents, to $7 with 800 shares, Dolphin Cove closed at $17.50 with 5,534 shares, Express Catering with a loss of 1 cents, closed at $5.20 with 311,836 shares, General Accident with a loss of 7 cents, closed at $2.60 with 615,796 shares, Honey Bun closed at $5 with 4,500 shares, 
Jamaican Teas moved 25 cents higher to $4.95 with 25,101,325 shares, Jetcon Corporation climbed 20 cents higher to $5.50 with 43,070 shares, KLE Group closed 10 cents higher at $2.10 with 738,400 shares, Knutsford Express closed at $15 with 5,538 shares, Lasco Distributors rose 15 cents while closing at $6.70 with 576,888 shares, Lasco Financial lost 15 cents, and closed at $3.85 with 20,000 shares, Lasco Manufacturing closed at $4.33 with 71,292 shares, Main Event gained 5 cents to $5 with 3,732 shares, Paramount Trading closed at $2.85 with 64,224 shares, Stationery and Office Supplies traded 604,415 units with the price falling 59 cents to $4.40, and tTech rose 20 cents to $7 with 500 shares.
Losses| Stocks trading with the prices falling and volumes changing hands at the close are, Guardian Holdings closing at $16.50, with a loss of 1 cent trading 23,100 shares valued at $380,950 and Trinidad & Tobago NGL falling 5 cents to $23.40 exchanging 12,431 shares.
