Wednesday, 31 July 2013 | The Jamaica market closed today with stocks of 26 companies trading as a volume of 3,441,374 valued at $23.9 million traded. Only 5 stocks advanced to 10 declining as all the indices with trading lost altitude.

The day brings to an end a month when for every week there were net declines in the market, which is a carryover from June when only one in 4 weeks recorded a net gain. The results of companies now being released will have a telling impact on prices over the next several weeks. The signs are there. Grace which posted a 41 percent increase in the second quarter results moved back up today in price, Lasco Manufacturing lost its zest with a 10 percent decline in profits while Lasco Financial with a 50 jump in first quarter profits looks as if it will go higher.

Trades of note Main Market | The all Jamaica Index shed 247.46 points to close at 86,625.92 and the JSE market index fell by 140.64 to close at 86,063.98.

Cable & Wireless traded 643,455 units between 14 cents and 15 cents but closed at 14 cents. Carreras was again dominant in the market with a volume of 171,767 units valued at $8.6 million. Desnoes & Geddes chipped in with 126,748 units and closed at $4.70, the same as Tuesday’s last selling price. Grace Kennedy saw $7.6 million being expended on 135,000 shares as the stock regained yesterday’s loss by putting on $2.90 to close at $56.50 in response to the strong second quarter results. Jamaica Broilers had just 52,971 units trading and closed at $5. Mayberry enjoyed a day of trading when 332,000 units crossed the exchange at $2.60. Sagicor Life gained 40 cents to close at $9 with 66,145 units changing hands. Supreme Ventures traded 80,250 units closed at $2.90 and lost 10 cents in the process. National Commercial Bank and Scotia Group traded relatively light volumes and their closing prices were stable.

Junior market | 9 stocks in the junior market traded with 3 advancing and 3 declining. Lasco Manufacturing traded 1 million units and closed at $1.45 losing 15 cents in the process. Lasco Distributors traded 256.900 units and closed at $1.50 while Lasco Financial traded 148,186 shares gained just 4 cents to $1.60. General Accident had 270,446 shares changing hands and closed at $1.96.  No other major trades took place.

Eppley shares that were listed on Monday is yet to have a bid and offer to date.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator shows that bids for  an elevated 8 stocks were higher with 2 stocks having offers lower than their last selling price.

Results ticker | Paramount Trading released audited results to May showing profit of $73,348,356 versus $53,374,640 in 2012 after tax. Carreras suffered a major reversal in its fortunes with a major drop in profit after tax for the first quarter to June this year, which is down by 40 percent to $485 million compared with the same quarter last year $806 million.

Barita Investments showed vastly improved numbers for the June quarter with profits up with $98.899 million compared to $48.46 million. The results swung the loss for the year to date at the end of the second quarter to a profit at the end of the latest quarter.

Salada Foods reports lower profit in the June quarter than for the same period last year. Profit came in at $42 million after tax and $95.4 year to date versus $52.49 and $106.6 respectively.

Tuesday, 30th July 2013 | Crosses was the order of the day on the Jamaica Stock Exchange. The number and value of shares trading on market was filled with crosses done mainly by Pan Caribbean, leading the stocks of 28 companies to trade with a pumped up volume of 24,917,651 valued at $310.7 million. There were 9 stocks advancing and 13 declining which is an improvement on Monday when only 4 stocks had price advances and 14 declined.

Main market trades of note | The all Jamaica Index shed 489.39 points to close at 86,873.38 and the JSE market index lost 278.14 to close at 86,204.62.

Carreras traded 1,393,327 for a value of $71,652,396 and closed at $51.30 losing 21 cents, Desnoes & Geddes traded 6,787,525 valued $32,345,202, Jamaica Broilers 6,023,761 valued at $29,998,805, Jamaica Money Market Brokers 2,227,588 valued at $18,032,274 as the stock closed at $8.50 up 49 cents, Jamaica Producers 1,569,960 valued at $30,001,936 as the price gained 10 cents to close at $19.11, National Commercial Bank traded 3,149,543 with a value of $61,035,799 as the stock closed at $19.06 down 44 cents, Pan Jamaican Investment Trust 300,458 valued at $15,500,707 with 39 cents being shaved from the price which closed at $51.11, Scotia Group 2,220,944 units valued at $47,061,328, gaining 15 cents to close at $21.30.

Grace Kennedy traded 41,130 units and fell to a $53.60 at the close, off $2.40 on the same day the group reported a 40 percent jump in profits in the latest quarter to June and 20 percent for the six months period but after trading had closed.

Jamaica Stock Exchange ordinary shares traded for the first time since the company was listed but in the form of ordinary shares. Subsequent to the recent IPO, the stock traded at $3.25 up 40 cents on the IPO price with just 2,218 shares. Sagicor Investments lost 50 cents as it closed at $18 and Sagicor Life closed down 41 cents at $9 both with small volumes.

Junior market | 9 stocks in the junior market traded as the index moved up moderately by 4.89 to 806.04.

Trading continue to be dominated by the three Lasco companies followed by General Accident which traded 95,092 units to close $1.92 and Caribbean Producers traded 54,000 units to close $2.03. Blue Power chipped in with 34,199 units valued at $342,073 and closed at $10, a loss of 40 cents. Lasco Distributors traded 112,266 shares and closed up 4 cents to $1.50, Lasco Financial traded 131,516 shares and was up 10 cents to $1.60, and Lasco Manufacturing traded 318,315 shares and closed down a cent to $1.60.

Eppley shares which were listed on Monday has shown no signs that it will trade any time soon as there are no bids nor offer in the market for the stock.

Proven Investment Preference shares traded 196,000 units valued at $1 million. There was no trading in 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 4 stocks were higher with 2 stocks having offers lower than their last selling price.

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.