The Junior market closed on Tuesday, with limited traded that rose 69 percent above Monday’s low level Fewer securities traded than on Monday, but at the close 7 stocks gained, while 2 declined out of 10 securities that traded, down from 12 on Monday as two stocks closed a new highs.
The market index declined 14.32 points, to close at 2,266.10. Market activities ended with 4 securities closing with bids higher than their last selling prices and 5 ending with lower offers.
Trading ended with 531,125 units changing hands, 63 percent less than on Monday, while the value traded jumped 57 percent, with just $2,288,358 up from $1,453,100 changing hands on Monday.
At the close, Caribbean Cream closed with 18,700 shares changing hands and gained 30 cents to close at $8.30, Caribbean Producers traded 2,316 shares to close at $3.50 after gaining 35 cents, Consolidated Bakeries closed with a 20 cents rise to close at $2.40 with 20,192 units changing hands.
Honey Bun rose 33 cents in trading 90,458 units to end at $5.85, Lasco Distributors closed with 16,572 units trading, ended with a loss of 5 cents at $6.95, Lasco Financial gained 5 cents with 209,953 shares changing hands at $3.45. Lasco Manufacturing rose 10 cents and closed at $4.45 with 125,661 shares trading, Medical Disposables traded 27,067, shares and closed at $3.55, Paramount Trading climbed $1.05 to end with 2,000 shares changing hands at a 52 weeks’ high of $15.05 and tTech rose 5 cents in trading 18,206 shares at $5.30.
7 junior stocks rise 2 fall – Tuesday
Mayberry active in insider trades
Mayberry Investments is one of the listed companies in which there are regular trades done by insiders, the period since August into September have a number of moderate trades. Mayberry Investments has traded heavily in LASCO Financial Services shares recently to top up their holdings.
A connected party of Mayberry Investments purchased 15,766 shares on September 2, 10,500 shares on September 1. A related party purchased 13,289 shares on August 31, while on August 30. Directors trading in the company’s stocks include a purchase of 60,000 shares and sale of 10,000 shares on August 3 and purchase of 2,000 shares on August 15, 37,300 shares on August 10 and 73,539 shares on August 10-18. A sale of 19,496 shares on August 22, 11,000 shares on August 11, 10,000 shares on August 10, while another 21,000 shares were sold on August 10-11.
Mayberry Investments was the main buyer of LASCO Financial Services shares recently in an effort to up their holdings to maintain their 20 percent holding in light of an increase in the issued shares in connection with the staff option plan an informed source told IC Insider. The inside trades resulted from a connected party purchasing 552,729 of the company’s shares on September 2, while on August 24, a connected party sold 37,480 shares and a connected party purchased 701,234 shares.
A connected party of Caribbean Producers sold 54,074 CPJ shares on September 7 and on September 1 connected parties sold a combined total of 3,245,289 shares.
An Officer of Trinidad Cement purchased through the TCL’s Employee Share Ownership Plan 107,715 TCL shares on September 6 and a related party sold 15,000 TCL shares over the period August 16-18.
A National Commercial Bank, related parties purchased 27,664 shares on August 30. Parties connected with Blue Power Group purchased 48,421 shares during the period June 30 to August 18 and sold 2,000 shares on August 18.
A Supreme Ventures connected party sold 8,000,000 shares and another sold 1,223,602 shares on August 3 and August 16, respectively. A connected party sold 838,345 shares and a member of the Senior Management purchased 12,465 shares on September 8.
A Director has sold 50,000 Honey Bun shares on August 22 and on August 12 a director sold 10,050 shares and an Eppley connected party sold 121,667 shares in the company on August 12.
Active insider trading since August
Sagicor Group HQ -Insiders been buying & selling the stock recently.
In the past some of the trades in the local market have not sent any known information when viewed against developments in the companies subsequent to the trades by insiders. In the case of a few of the listed companies investors are well advised to pay attention.
Insiders’ trade in August and September to date, are as listed below trades the various companies reported to the Jamaica Stock Exchange.
Sagicor – There was slightly more buying than selling of shares in Sagicor Group. A related party of the Sagicor Group purchased 71,716 shares on September 7 and 9, and a member of the Senior Management sold 70,000 shares on September 9, while two executives sold 155,000 shares on September 1, and related parties purchased in total 240,075 shares between September 1 and 2. An Executive sold 82,700 shares and related parties purchased 99,046 of the group’s shares, between August 29 and 30.
A connected party purchased 152,750 of the group’s shares on August 26, while a related party purchased 48,650 shares on August 22, and a director sold 173,800 shares on August 15, while another director purchased 2,350 shares on August 15, and a director sold 165,000 shares on August 16, while a director purchased 236,250 shares on August 16.
A JMMB Group connected party sold 1,000,000 of the company’s shares September 7 and a connected party sold 9,000 shares on August 18.A Jetcon Corporation connected party purchased 199,800 shares on September 6 and 72,964 shares on August 22, while a related party purchased 152,699 shares and connected parties purchased a total of 279,735 shares on August 16-17.
Company Executives purchased 24,633 and 29,240 Caribbean Cement shares on September 1 and a Senior Manager purchased 300 shares on August 17.
At Grace Kennedy, a senior officer sold 75,144 shares on August 29 and 30. Jamaica Stock Exchange saw connected parties purchasing 8,234 and 18,034 shares on August 31, while a director purchased 2,000 shares on August 18.
Dip in profit at Jamaica Broilers
Jamaica Broilers sales revenues increased 12 percent over the $8.9 billion the group generated in 2015 to reach $10 billion for the first quarter ending July this year. Profit after tax from continuing operations fell to $401 million from $420 million in 2015.
The profit performance resulted from gross profit that grew in line with sales with a 12 percent increase in for the quarter to $2.7 billion, from $2.4 billion in the corresponding quarter last year and an increase in finance and other income of $178 million up from $123 million in the company’s 2015 first quarter.
Directors in their report to shareholders state that the “Jamaica Operations reported a normalised segment result (after adjusting for the effects of the disposal of subsidiaries) of $641 million compared to $783 million reported last year. This was a result of increased levels of poultry imports and increased input costs. The US Operations continued to grow steadily and reported a segment result of $297 million, which was a 14 percent increase over the prior years’ $261 million. This quarter’s results include for the first time the operations of the new subsidiary International Poultry Breeders Hatcheries Inc., based in Iowa.”
“In the Other Caribbean Operations segment, the increased production of table eggs in Haiti Broilers SA is now reflected in the profits being reported for the quarter. The normalized segment result, after adjusting for the effects of the disposal of subsidiaries, amounted to $74 million which was $49 million or 196 percent above the $25 million reported last year.”
Distribution costs, grew much faster than sales, with an increase of 29 percent over the previous year, to $321 million from $248 million while administration costs moved up by 20 percent to $1.79 billion from $1.49 billion in 2015.
The profit out turn resulted in earnings of 33.08 cents per share for the quarter. IC Insider expects that with continued growth in sales revenues investors should see increased profit for the current year which will be aided by improved economic activity in the markets the group operates in.
At the end of the quarter, shareholders’ equity stood at $12.7 billion while loans grew from $6 billion in July 2015 to $6.9 billion in 2016 while cash funds and investments ended at $1.7 billion in 2016 versus $1.8 billion in 2015.
Jamaica Broilers’ shares are listed on the Jamaica Stock Exchange and last traded at $14.52 at PE ratio of 11 times last fiscal year’s earnings.
5 stocks rise on TTSE on Monday
Angostura Holdings ended with 10,300 shares changing hands to close unchanged at $14.
Market activity ended with 98,192 shares valued at $3,107,756 changing hands, up from the $1,194,344 traded on Friday.
The Composite Index rose 0.04 points to close at 1,155.85, the All T&T Index rose 0.15 points to close at 1,817.14 and the Cross Listed Index ended flat at 65.85.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 8 stocks with bids higher than their last selling prices and 3 with offers that were lower.
Gains| Grace Kennedy ended with 5,529 shares trading as the price gained 1 cent to $2.52, National Flour rose 1 cent and ended with 3,200 shares changing hands to close at $2.41, Prestige Holdings had 2,500 shares changing hands and rose 5 cents to end at $10.85. Sagicor Financial Corporation closed with 14,284 shares changing hands and gained 6 cents to $6.58, and Trinidad and Tobago NGL closed at $23.70 with 16,541 units with a value of $392,462 trading, after rising 1 cent.
Losses| Ansa McAl lost 30 cents and traded 12 units at $62.70, Massy Holdings lost 4 cents and ended with 300 shares changing hands to end at $54.95 and National Commercial Bank ended with 3,160 shares changing hands to close at $2.64, with a gain of 10 cents.
Firm Trades| Angostura Holdings ended with 10,300 shares changing hands to close unchanged at $14, Ansa Merchant Bank traded 3,304 units to end at $40.01, Clico Investment Fund closed with 17,303 shares valued at $391,740 changing hands, to end at $22.64. First Citizens traded 4,222 units at $35, Republic Financial Holdings ended with 25 shares changing hands at $109.99, Scotiabank closed with 1,554 shares changing hands at $57.60, West Indian Tobacco traded 12,958 shares with a value of $1,636,855 to close $126.32 and L.J. Williams B share closed with 3,000 shares changing hands close at 72 cents after.
JSE stocks drop again on Monday
NCB gained $1 on Monday.
The junior market accounted for 314,520 units valued at $1,453,100 of the total traded on Monday.
At the close of trading, the JSE Market Index sank 603.84 points to end at 158,069.49. The all Jamaica Composite Index dropped 675.29 points to close at 175,611.30 and the JSE combined index dived 516.84 points, to end at 170,018.66.
At the close, the prices of 9 securities gained out of a total of 35 that traded, with 12 declining in the overall market, including 2 stocks rising and 4 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 showed 14 stocks with bids higher than their last selling prices and 7 with lower offers, suggesting continued fluidity in price movements ahead.In market activity, Barita Investments traded 8,500 units at $3.11, investors picked up 647,500 units of Cable & Wireless between the closing price of 75 cents and 80 cents during trading but the stock remains weak at the close, with lots of selling and little buying interest. Caribbean Cement traded 1,000 shares to close with a gain of 10 cents at $25.60, Carreras traded 895 shares and gained 30 cents to close at $66, Grace Kennedy dropped 15 cents and ended at $41.30, with 144,333 shares changing hands. Jamaica Broilers had 3,169 shares changing hands, to end at $14.52. Jamaica Producers ended with a loss of 9 cents at $8.41 with 20,124 units trading, JMMB Group traded 17,612 units and lost 3 cents to $9.85.
Kingston Wharves fell 40 cents in trading 16,529 shares to close at $17, National Commercial Bank had 8,540 units changing hands to close with a gain of $1 at $40, Pan Jamaican Investments rose 50 cents and closed at $24.50 after trading 38,157 shares. Radio Jamaica rose 2 cents to close at $1.42 after 5,736 shares that changed hands, Sagicor Group traded 7,000 shares while rising 9 cents to close at $22.50, Sagicor Real Estate Fund traded 30,700 shares to close at $10.20, Scotia Group climbed 95 cents to close at $30 with 66,000 shares changing hands. Scotia Investments dropped 45 cents with 58,572 units changing hands at $25.50, Sterling Investments traded 5,000 units but fell 15 cents to $14, Supreme Ventures had 17,844 units changing hands at $4.76 and Proven Investments traded 5,201 units to close at 19.87 US cents.
Another US$10 million more on Monday
Trading in Jamaica’s foreign exchange market saw another day when more purchases of the all foreign exchange currencies exceeded sales, with the net intake on Monday, being US$10 million just above the net in take on Friday of just a tad below US$10 million and with the net US dollar currency intake being US$9 million the same as on Friday.
Net inflows for September to date amounts to US$55.7 million. Unlike Friday when the positive net inflows did not stop the rate for selling the US dollar from rising, in Monday’s trading, the local dollar gained against the US dollar.
At the end of trading, dealers bought US$40,557,663 and sold only US$30,162,776 compared to US$37,477,625 purchased and US$27,548,721 sold on Friday, of all currencies.
In US dollar trading, dealers bought US$36,851,384 compared to US$34,686,488 on Friday. The 
buying rate for the US dollar declined 22 cents to close at $126.87. A total of US$27,926,335 was sold versus just US$25,787,049 on Friday, with the selling rate fell 7 cents to end at $127.65. The Canadian dollar buying rate declined by 66 cents to $95.29, with dealers buying C$2,122,844 and selling C$1,762,850 at an average rate that rose by 42 cents to $98.27. The average rate for buying the British Pound dropped 18 cents to $165.42 for the purchase of £1,495,683 while only £562,174 was sold with the rate rising 72 cents to end at $169.27.
At the end of trading, the selling rate for the Euro, fell 26 cents to close at J$144.62 from Friday’s rate, according to data from Bank of Jamaica, dealers purchased the European common currency at J$137.67 for a fall of $2.16 from the rate on Friday. The US dollar equivalent of other currencies traded amounts to US$161,845 being bought, while US$133,875, was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Monday, include a rise of $1.09 in the highest buying rate for the Canadian Dollar to end at $99.50, a fall in the highest selling rate of 92 cents to settle at $102.11, a fall in the lowest selling rate of $1.80 to end at $93. Trading in the British Pound resulted in a fall of 70 cents in the highest buying rate to close at $170.70, a dive of $1.08 in the highest selling rate to $177.12 and a leap of $43.54 in the lowest selling rate to $161.
2 junior stocks rise 4 fall – Monday
The Junior market closed on Monday, with limited trades that fell 63 percent below Friday’s levels, but with a few more securities traded than on Friday. At the close, only 6 stocks had changes in their prices as 2 gained, while 4 declined out of 14 securities that traded, up from 12 on Friday.
The market index rose just 4.21 points, to close at 2,280.42 and is up 27 percent for the year to date.
Market activities ended with 7 securities closing with bids higher than their last selling prices and 4 ending with lower offers.
Trading ended with 314,520 units changing hands, 63 percent less than on Friday, while the value traded dropped a whopping 73 percent, with just $1,453,100 down from $5,439,011 changing hands on Friday.
At the close, AMG Packaging dropped $1.70 and ended at $17.50, with just 535 units changing hands, Cargo Handlers traded at a new high of $86.10 after rising 10 cents with just 200 shares trading, at the close the bid on the stock was for 1,500 shares at 86.50 with none on offer. Caribbean Cream closed with 1,200 shares changing hands at $8, Caribbean Producers traded 4,489 shares to close at $3.25 after falling 53 cents, 
C2W Music closed at 20 cents with 950 units changing hands, Derrimon Trading rose 5 cents to close at $3.10 with 2,000 shares changing hands, General Accident traded 150,000 units to end at $2.30. Honey Bun traded 3,634 units to end at $5.52, Knutsford Express traded 4,000 shares to close at $26, Lasco Distributors ended with 24,964 shares changing hands and fell 5 cents to close at $7. Lasco Financial had just 2,899 shares changing hands at $3.50, Lasco Manufacturing closed at $4.35 for a loss of 15 cents with 110,563 shares trading, Medical Disposables traded 117,630, shares and closed at $3.55 and tTech traded 26,456 shares at $5.25.
Cargo Handlers at new high
Cargo Handlers traded at a new high of $86.10 on the junior market of the Jamaica Stock Exchange in early Monday trading but with only 200 shares changing hands. Trading volume in the overall markets has been light with the highest volume traded being Pan Jamaican Investment with 38,032 units at $24.
The junior market index rose a bit with only a few securities trading in that market but the main market indices declined.
In trading Cable & Wireless after trading as low as 75 cents on Friday found some support to trade a small volume at 80 cents and now has a bid to buy at 76 cents. Scotia Group traded up by 95 cents to trade at 28,000 units at $30.
At 10:45 am 23 securities traded, resulting in a volume of just 202,505 shares carrying a value of $3.1 million changing hands compared to 861,119 shares carrying a value of $8,593,129 on Friday. The average number of shares traded amounts to only 8,805 units compared to 39,142 units on Friday. The number of stocks falling are 6 while the prices of 8 securities rose as the market continues to consolidate.
The all Jamaica Composite Index fell 230.99 points to 176,055.60, the Jamaica Stock Exchange Market Index eased 206.55 points to 158,466.78, the Jamaica Stock Exchange combined index fell 78.90 points to close at 170,456.60 and the junior market index 10.98 points to 2,287.19.
