The average closing rates trading the Jamaican dollar in the foreign exchange market were mixed against the main currencies it normally trade with, on Thursday. Dealers bought the equivalent of US$37,367,097 of all currencies, and sold US$36,133,436, compared to US$35,097,312 purchased and US$41,311,362 sold on Wednesday.
In US dollar trading, dealers bought US$31,042,246 compared to US$29,558,721 on Wednesday. The buying rate for the US dollar rose 6 cents to close at $128.41. A total of US$30,989,415 was sold versus US$37,232,249 on Wednesday, with the selling rate rising 2 cents to $129.10. The Canadian dollar buying rate jumped 67 cents to $95.94, with dealers buying C$6,177,817 and selling C$5,714,958 at an average rate that rose 24 cents to $96.45. The average rate for buying the British Pound dipped 14 cents to $157.33 for the purchase of £934,445 while £325,720 was sold with a rise of 71 cents to end at $160.65.
At the end of trading on Thursday, dealers sold €436,490 with the selling rate for the Euro, closing with a fall of $1.01 to $137.31, according to data from Bank of Jamaica. Dealers purchased €519,931 of the European common currency at $136.28 after falling 89 cents. The US dollar equivalent of other currencies traded, amounts to US$12,130 being bought and selling of US$4,746.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded currencies, in the foreign exchange market on Thursday, include a rise in the highest buying rate for the Canadian dollar by $1.95 to $98.60,. The highest buying rate for the British Pound rose $3.25 to $163.75, while the highest selling rate rose 81 cents to $168.80. The highest selling rate for the Euro climbed $3.80 to $168.80 and lowest selling rate dived $19.24 to $114.96.
Jamaican$ trades mixed on Thursday
November 17, 2016 by
NCB hits new high on TTSE
November 16, 2016 by
At the close of trading market activity resulted in 2 stocks closing at 52-week high while trading closed with 795,747 shares changing hands with a value of $8,048,155, in contrast to Tuesday’s volume of 650,998 with a value of $6,697,034.
The Composite Index advanced 6.18 points to 1,188.30 points, the All T & T Index dropped 2.85 points to close at 1,800.14 points, 7.6 percent down year to date and the Cross Listed Index gained 2.08 points to close at 77.06 points, with the year to date gains rising to 55.65 percent.
IC bid-offer Indicator |The Investor’s Choice bid-offer ended with 5 stocks with bid higher than their last selling prices and 5 with lower offers.
Gains| Grace Kennedy gained 26 cents to close at a 52 weeks high of $2.80 with 238,602 shares changing hands, valued at $666,729 and National Commercial Bank gained 25 cents to close at a 52 weeks high of $2.90 with 192,307 shares changing hands with a value of $552,064.
< Strong> Losses| strong> Guardian Holdings lost 44 cents to close at $12.56 with 1,875 shares changing hands, JMMB Group with 100,000 shares changing hands, lost 1 cent to close 90 cents. National Flour Mills dropped 6 cents to close at $2.50 with 1,125 shares changing hands, Sagicor Financial closed at $7.40, down 1 cent with 13,220 shares changing hands and West Indian Tobacco lost 5 cents to close at $126.90 with 28,905 shares changing hands.
Firm Trades | Angostura Holdings closed at $15.50 with 90,500 shares changing hands with a value of $1,402,750, Clico Investment Fund closed at $22.60 with 884 shares changing hands, First Citizens Bank with 1,175 shares changing hands, closed at $33, First Caribbean International Bank closed at $8.50 with 117,275 shares changing hands with a value of $996,737. Massy Holdings closed at $50.99 with 120 shares changing hands, Scotiabank traded 7,237 shares to close at $58.74, Trinidad & Tobago NGL closed at $22.68 with 2,472 shares changing hands and Unilever Caribbean with 50 shares changing hands, closed at $59.87.
Quick about turn at Key Insurance
November 16, 2016 by
Key Insurance recovered from a loss of $21 million in the June quarter to a profit of $84 million in the September quarter, up from a loss of $284,000 in the 2015 third quarter and also reversed the loss in the six months to June this year of $18 million.
The second quarter was negatively affected by an Insurance claims of $747 million compared to just $82 million in 2015 for the same period. In the September quarter the insurance company benefited from a positive turn around for claims.
The claims experience in the second quarter forced the company’s management to review the insurance claims and reserves quarterly rather than annually in the past. The end result is that claims seem to be back to normal in the third quarter with a net recovery in claims of $228 million as opposed to an expense of $193 million expensed in 2015.
Nine months profit ended at $66 million compared to $68 million for the 2015 period and seems set to reach $120 million for the full year, for earnings per share of 35 cents. At this level of earnings, the stock has a PE of 6, the lowest in the junior market.
Key generated net premium income of $166 million up 25 percent over 2015 and $451 million for the nine months, an increase of 28.5 percent. Administrative expenses rose from $77 million in the 2015 third quarter to $100 million in 2016 and for the nine months to $281 million from $220 million.
The stock last traded at $2 on the junior market of the Jamaica Stock Exchange.
The second quarter was negatively affected by an Insurance claims of $747 million compared to just $82 million in 2015 for the same period. In the September quarter the insurance company benefited from a positive turn around for claims.
The claims experience in the second quarter forced the company’s management to review the insurance claims and reserves quarterly rather than annually in the past. The end result is that claims seem to be back to normal in the third quarter with a net recovery in claims of $228 million as opposed to an expense of $193 million expensed in 2015.
Nine months profit ended at $66 million compared to $68 million for the 2015 period and seems set to reach $120 million for the full year, for earnings per share of 35 cents. At this level of earnings, the stock has a PE of 6, the lowest in the junior market.
Key generated net premium income of $166 million up 25 percent over 2015 and $451 million for the nine months, an increase of 28.5 percent. Administrative expenses rose from $77 million in the 2015 third quarter to $100 million in 2016 and for the nine months to $281 million from $220 million.
The stock last traded at $2 on the junior market of the Jamaica Stock Exchange.
National Commercial jumps $7 to $53
November 15, 2016 by
At the close the All Jamaica Composite Index climbed 1,633.32 points to close at 190,105.13, with the year to date gains at 13 percent. The JSE Market Index rose 1,460.49 points to finish at 171,029.58 and the JSE combined index gained 1,250.77 points to end at 184,140.62 with a gain for the year to date of 15.6 percent.
At the close 3,554,573 units valued at $49,191,747 changed hands, compared to 1,386,155 units valued at $4,662,262 changing hands on Monday. The junior market accounted for 1,290,866 units trading valued at $5,509,660 of the stocks traded.
The average trade for the day in the main market ended at 90,548 and 99,679 units month to date. On Monday, an average of 62,133 units traded and for the month to date, 108,809 units, in comparison the average for the October was 220,811 units.
The market closed with 42 securities trading as the prices of 21 gained while 13 declined in the overall market, including 9 stocks rising and 8 falling, in the junior market.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading shows 12 stocks with bids higher than their last selling prices and just 1 with a lower offer.
In market activity, Barita Investments traded 115,028 units and gained 20 cents to close at $4.20, Cable & Wireless closed at 80 cents with 436,344 units trading, Caribbean Cement lost 5 cents with 131,792 units changing hands, to close at $29.95, Carreras traded 2,000 shares to end at $65. Grace Kennedy ended up trading 378,873 units at $41.43 after rising 63 cents, Jamaica Broilers fell 42 cents and closed at $14.58 with 6,665 shares changing ownership, Jamaica Stock Exchange rose 19 cents and ended at $5.69 after trading 101,985 shares, JMMB Group gained 55 cents in trading 237,408 shares to end at $14. Kingston Wharves jumped $1.26 in trading 40,000 shares to close at $18.51, Pan Jamaican Investment fell 5 cents and closed at $23.65 after trading 108,967 shares, Radio Jamaica closed with a gain of 1 cent to close at $1.32 with 23,297 shares trading, Sagicor Group had 452,560 shares changing hands and rose 99 cents to close at $24.99. Sagicor Real Estate Fund traded with a rise of 11 cents to close at $10.23 with 29,630 units switching owners, Scotia Investments gained 10 cents in trading 37,500 shares to close at $26.65, Seprod rose 30 cents in trading 4,600 shares to end at $27.30. Supreme Ventures fell 10 cents trading 47,100 shares to close at $4.90 and JMMB Group 7.50% preference share traded 26,082 units at $1.08.
Trading value climbs on TTSE – Tuesday
November 15, 2016 by
Trading activity closed with 650,998 shares changing hands with a value of $6,697,034, in contrast to Monday’s volume of 87,638 with a value of $556,559.
The Composite Index declined 0.39 points to 1,182.12 points, the All T&T Index dropped 1.47 points to close at 1,802.99 points, and is 7.47 points down year to date and the Cross Listed Index gained 0.10 points to close at 74.98 points, up 51.44 percent year to date.
IC bid-offer Indicator |The Investor’s Choice bid-offer ended with 4 stocks with bids higher than their last selling prices and 6 with lower offers.
Gains| Berger Paints gained 37 cents to close at 52-week high of $4.05 with 1,750 shares changing hands, Sagicor Financial gained 16 cents to close at $7.41 with 19,005 shares changing hands and Trinidad & Tobago NGL gained 13 cents to close at $22.68 with 2,500 shares changing hands.
< Strong> Losses|Angostura Holdings lost 41 cents to close at $15.50 with 82,750 shares changing hands with a value of $1,293,669.
Firm Trades | Clico Investment Fund closed at $22.60 with 210,000 shares changing hands with a value of $4,746,000, First Citizens Bank with 1,020 changing hands, closed at $33, FirstCaribbean International Bank closed at $8.50 with 12,000 shares changing hands and year to date gains of 70 percent. Guardian Holdings closed at $13 with 110 shares changing hands, JMMB Group with 309,136 shares changing hands, closed at 91 cents and year to date gains of 65 percent, National Commercial Bank closed at $2.65 with 11,218 shares changing hands and Point Lisas with 1,500 shares changing hands, closed at $3.70.