Trading on the Jamaica stock market on Monday continues to be modest, with 3,391,899 units valued at $45,816,950 in all market segments changing hands. All market indices lost ground as more stocks declined than rose. A total of 36 securities traded with the prices of 11 stocks rising, 15 fell, including 3 stocks rising and 8 declining from the junior market.
The junior market accounted for 626,581 shares valued at $2,868,043 of all trades.
The JSE Market Index dropped 392.24 points to end at 161,110.22. The all Jamaica Composite Index declined 438.67 points to close at 179,011.90 and the JSE combined index fell 455.71 points, to end at 172,082.96.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 17 stocks with bids higher than their last selling prices and 8 with lower offers.
At the end of market activities, Berger Paints gained 15 cents and ended at $4.50 while trading 104,073 units, Cable & Wireless traded 62,432 shares traded to close at $1.20, after gaining 2 cents, Caribbean Cement dropped $1 to close at $24 after trading 3,000 units. Carreras traded 128,030 shares but slipped 20 cents to $64.60, while 1834 Investments traded 363,105 shares to close at $1, Grace Kennedy lost $3 and closed at $120 with 8,491 units changing hands. Jamaica Broilers ended with 372,057 units changing hands and gained 20 cents to close at $15 as the company released audited accounts showing earnings per share of $1.44, up from 86 cents as the Jamaican operations saw a surge in segment profits of nearly $1 billion. Jamaica Producers traded 3,630 units after rising 10 cents to end at $48.10, Jamaica Stock Exchange traded 8,160 shares at $25.10, JMMB Group traded 27,985 units to close at $9.72. Kingston Wharves traded 3,222 units and gained 46 cents to close at $14.56, Mayberry Investments closed with 7,500 shares changing hands at $3.55, to record a gain of 3 cents, National Commercial Bank ended with 183,554 units changing hands with a fall of 10 cents to $41.90. 
Pan Jamaican Investment Trust dipped 49 cents in trading 216,417 shares to close at $25.01, Radio Jamaica fell 5 cents to close with 104,000 shares changing hands at $1.65, Sagicor Group ended with 187,634 shares changing hands at $23.05, Scotia Group rose 70 cents with 264,308 shares trading to close at $32, the stock traded as high as $32.60. Seprod lost 50 cents while trading 90,850 units, to end at $16.60, Supreme Ventures traded 14,840 units and gained 15 cents to close at $4.69, Proven Investments traded 260,600 units to close at 17 US cents but after hitting a 52 weeks’ low of 15 US cents and JMMB Group 7.5% preference share traded 126,340 shares to close at $1.04.
Juniors hit by 8 losers – Monday
The junior market closed trading on Monday with the market index falling by 8.94 points, to close at 2,206.70, disguising the wide gap in the decline, advance ratio. A total of 14 active securities compared to 13 on Friday traded but with only 626,581 shares valued at $2,868,043, changing hands on Monday.
At the close, 3 stocks advanced and 8 declined while two traded at new closing highs.
At the end of trading 7 stocks closed with bids higher than their last selling prices and 3 ended with lower offers.
At the end of trading, Caribbean Cream fell 45 cents with 16,400 shares changing hands, to end at $5.45, Caribbean Producers, gained 38 cents in trading 1,970 shares at $4.68, Consolidated Bakeries had 50,000 units changing hands, to close at $2, C2W Music traded 10,000 and lost 1 cent to close at 28 cents. Derrimon Trading Company had 32,000 shares trading with a loss of 25 cents to end at $2.95, Dolphin Cove traded 6,083 shares, to end with a fall of 10 cents at $11.65, 
General Accident Insurance closed at $2.05 with 16,427 units trading. Honey Bun fell 45 cents to close at $5.60 with 51,022 units changing hands, Iron Rock Insurance traded 9.838 shares and rose 5 cents to close at $3.35, Jetcon Corporation traded only 900 units at $2.95, Knutsford Express fell 70 cents in trading a mere 460 shares to end at $16.80. Lasco Distributors fell 12 cents in trading 11,893 units to end at $7.38, Lasco Financial slipped 25 cents and ended with 25,341 shares changing hands at $3.20 and Lasco Manufacturing closed at $5.01 with 394,247 shares trading after rising by a cent.
Caribbean Producers profit gets hit
CPJ set to be hit by asset write down
(CPJ) says it “has taken the decision to issue a preliminary disclosure of likely impairment to their net profit in the financial year ended June 30, 2016”
“CPJ advises that the presence of unregulated players in the market continue to create an unequitable environment for the company to compete against products of questionable origin and repute. This has resulted in a review of the implications for CPJ’s business model and hence the following prudent management decisions will be made: A write-down of inventory that has become aged or obsolete that cannot be competitive against unregulated players. An increase in tax provision in anticipation of realignment changes to CPJ’s business model.”
“CPJ views these issues as material primarily for the Fiscal year ended June 2016 and anticipates the authorities will aggressively target the unregulated players. CPJ states however, that the new fiscal year will concentrate on rationalizing non-core businesses and a realignment to address the year-on-year increase in costs associated with their rapid growth and new investments while focusing on protecting their profitable lines of businesses.”
CPJ reported lower profits in the March 2016 quarter of US$643,000 versus US$1.286 million in the similar period in 2015 with the nine months results being just ahead of that for 2015 at US$2.4 million.
While revenues were moderately up, by US$1.3 million in the quarter, to US$24.38 million and nearly US$5 million for the nine months to March,to US$69.8 million, selling and administrative expenses jumped by $1.3 million to US$5.47 million in the quarter and US$2 million for the nine months.
At the end of March, inventories totalled US$25.4 million, even a small write of say 5 percent, could do major damage to the 2016 profit.
The company’s shares that are listed on the junior market of the Jamaica Stock Exchange, traded a small volume today at $4.68.
TTSE record modest gains – Monday
Trading on the Trinidad and Tobago stock market ended on the first trading day of July with all three indices rising with 11 securities trading. Trading accounted for 48,324 shares valued at $389,650 changing hands. The market closed with 4 stocks rising, 3 declining and 4 remaining unchanged.one stock traded at a 52 weeks’ high and one at a low.
The Composite Index gained 0.44 points or to close at 1,139.55, the All T&T Index climbed by 0.87 points to close at 1,794.20 and the Cross Listed Index remained unchanged at 64.54 points.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 6 stocks with bids higher than their last selling prices and 6 with offers that were lower.
Gains| Clico Investment Fund gained 4 cents in trading 4,662 units at $22.70, First Citizens traded 10 shares, to close at $34.51 after rising by 1 cent, Trinidad and Tobago NGL closed with 3,040 shares changing hands at $22.36 after rising 4 cents and Trinidad Cement gained 8 cents with 2,815 units changing hands, to close at $3.50.
Losses| Guardian Holdings traded 5,770 shares but fell 5 cents to close at $12.75, Massy Holdings lost 1 cent to close at $55.24 with 177 shares changing hands and Republic Financial Holdings ended with 91 shares to close at $107.17 with a loss of 1 cent to a 52 weeks’ low.
Firm Trades| Angostura Holdings ended with 1,350 shares changing hands to close unchanged at $13, shares, National Commercial Bank traded 10,000 shares at $2.60, National Flour ended with 15,953 shares changing hands to close at $2.30 and Sagicor Financial Corporation closed with 4,456 shares changing hands, to end at $7.25.
Proven hits 52 weeks’ low
Lasco Manufacturing with 368,596 shares trading at $5.05, is the leading volume trade in the early Monday morning session, on the Jamaica Stock Exchange, followed by Proven Investments
with 257,000 units with the price dropping to a 52 weeks’ low of 15.02 US cents, down from 17 cents at the close on Friday. 1834 Investments chipped in with 96,000 shares at $1.01.
The session had low volumes trading overall with less securities trading after 75 minutes of the market’s opening compared to Friday morning as the various indices declined across the board.
Market activity resulted in 23 securities changing hands, accounting for a volume of 921,863 shares 9 stocks gained and 7 declined. The average number of shares traded amounts to 40,081 units compared to an average of 77,695 units on Thursday.
The all Jamaica Composite Index dropped 482.38 points to 178,968.19, the Jamaica Stock Exchange Market Index fell 431.32 points to 161,071.14, the Jamaica Stock Exchange combined index declined by 415.83 to close at 172,122.84 points andthe junior market index slipped 1.56 points to 2,214.08.
Jamaican$ gained vs US for week
The Jamaica dollar had one of the best periods against the United States dollar this week, with the selling rate hardly moving from the close of Friday, June 23 of $126.35 to close on Friday July 1, at $126.28 as more inflows of US dollars came into the system than the amounts sold.
The foreign exchange market closed with dealers buying the equivalent of US$11.6 million more than the amount sold in all currencies, bringing the surplus purchased in the last five days to just under US$25 million, with the amount bought by dealers bringing US$63,555,858 while they sold US$42,928,790, compared to US$37,497,494 purchased and US$36,347,234 sold on Thursday.
In US dollar trading, dealers bought US$61,641,959 compared to US$34,965,091 on Thursday as the buying rate for the US dollar rose 15 cents to $125.93.
A total of US$41,808,480 was sold versus US$35,041,039 on Thursday with the selling rate falling 10 cents to $126.28. The Canadian dollar buying rate rose by 17 cents to end at $93.88 with dealers buying C$759,027 and selling C$545,417, at an average rate that dropped $1.54 to $96.34. The average rate for buying the British Pound dipped $2.43 to $163.83 for the purchase of £941,985, while £441,374 was sold, with the rate dropping $2.47 to $167.38.
At the end of trading, the selling rate for Euro, rose 10 cents to close at J$140.41 from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$137.64, for a fall of 20 cents from Thursday’s rate.
The US dollar equivalent of other currencies traded amounts to US$122,582 being bought, while US$119,171 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates for the Jamaican dollar in the foreign exchange market on Friday include, a rise of $1.80 in the highest buying rate of the Canadian Dollar to $97.80, a rise of 80 cents in the lowest selling rate to close at $90.70. The British Pound had a mixed day of trading, with the highest buying rate dropping $12.50 to $170, but the lowest buying rate jumped $15.71 at $135.71, the highest selling rate dived by $6 to close at $181 and the lowest selling rate dropped by $4.50 to end at $148.50.
TTSE gains on first trading of July
Grace Kennedy hits 52 weeks’ high on TTSE.
The Composite Index gained 3.50 points or to close at 1,139.11, the All T&T Index climbed by 5.35 points to close at 1,793.33 and the Cross Listed Index rose 0.22 at 64.54 points.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 7 stocks with bids higher than their last selling prices and 5 with offers that were lower.
Gains| First Citizens traded 3,450 shares to close at $34.50 and gained $1.10, Grace Kennedy contributed 2,000 shares, while gaining 21 cents in trading, to close at a 52 weeks’ high of $5.70. Sagicor Financial Corporation closed with 599 shares changing hands, to end with a gain of 3 cents at $7.25 and Trinidad and Tobago NGL traded 92,544 shares changing hands for a value of $2,064,934, to end at $22.32 after rising 7 cents.
Losses| Ansa McAl traded 550 units at a 52 weeks’ low of $62.42 after falling 1 cent and Massy Holdings lost 1 cent to close at $55.25 with 1,071 shares changing hands.Firm Trades| Angostura Holdings ended with 6,000 shares changing hands to close unchanged at $13, shares, JMMB Group closed at 60 cents after trading 10,000 shares, National Enterprises closed with 1,100 shares changing hands at $10.75, Trinidad Cement 5,563 units at $3.42 and West Indian Tobacco traded 5,100 shares with a value of $644,028, to close $126.28.
Big JSE jump to start July
Scotia Group contributed a large portion of the nearly 2,000 points gain in the AJ Index on Friday.
Two stocks closed at new highs. The junior market accounted for 1,681,148 shares valued at $7,205,861 of all trades.
The JSE Market Index climbed 1,731.65 points to end at 161,502.46. The all Jamaica Composite Index jumped 1,996.34 points to close at 179,450.57 and the JSE combined index gained 1,785.02 points, to end at 172,538.67.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 11 stocks with bids higher than their last selling prices and 6 with lower offers.
At the end of market activities, Berger Paints gained 5 cents and ended at $4.35 while 6,800 units were traded, Cable & Wireless traded 150,647 shares traded to close at $1.18, Caribbean Cement jumped $1 to close at $25 after trading 4,160 units. Carreras traded 1,425 shares but slipped 40 cents to $65. Ciboney gained 1 cent while trading at 21 cents with 140,000 shares changing hands, 1834 Investments traded 221,434 shares to close at $1, Grace Kennedy lost $3 and closed at $120 with 8,491 units changing hands, Jamaica Broilers ended with 119,956 units changing hands and gained 5 cents to close at $14.80. Jamaica Producers traded 10,000 units after rising 1 cent to end at $48, Jamaica Stock Exchange gained 10 cents to end at 52 weeks’ high of $25.10 while trading 1,931 shares, JMMB Group traded 36,304 units to close at $9.72. Kingston Wharves traded 1,400 units and gained 20 cents to close at $14.10, Margaritaville Turks closed with 159,040 shares changing hands at 19 US cents, National Commercial Bank ended with 100,328 units changing hands with a fall of $1 to $42, Pan Jamaican Investment Trust dipped 50 cents and traded 8,000 shares to close at $25.50.
Radio Jamaica rose 7 cents to close with 6,000 shares changing hands at $1.70, Sagicor Group gained 2 cents in ending with 135,000 shares changing hands at $23.05, Sagicor Real Estate Fund traded 47,905 shares and rose 3 cents to close at $10.15. Scotia Group rose 52 cents with 572,909 shares trading to close at $31.30, the stock traded as high as $32.89 and ended with an average trading price of $32.65. Supreme Ventures ended trading, with 304,000 units trading with a gain of 1 cent at $4.54. Proven Investments traded 18,500 units at 17 US cents and JMMB Group US 6% preference share, traded 15,610 units and gained 10 cents, to close at US$1.10.
Juniors enter July with gains – Friday
Caribbean Cream traded at a new all time closing high on Friday of $5.50.
At the end of trading 6 stocks closed with the bids higher than their last selling prices and 2 ended with lower offers.At the end of trading, Blue Power closed at a new high of $16 with 3,881 units trading to gain $1, Caribbean Cream gained 50 cents with 96,989 shares changing hands, to end at a new closing high of $5.50. Out of favour, Caribbean Flavours, lost 5 cents in trading 11,039 shares at $6.51, Consolidated Bakeries gained 20 cents with 373,576 units changing hands, to close at $2,
Dolphin Cove traded 5,000 shares, to end with a rise of 10 cents at $11.75, General Accident Insurance closed at $2.05 with 4,147 units trading. Honey Bun gained 45 cents to close at $6.05 with 58,441 units changing hands, Knutsford Express traded a mere 200 shares to end at $17.50, Lasco Distributors traded 76,398 units to end at $7.50, Lasco Financial ended with 2,713 shares changing hands at $3.45. Lasco Manufacturing closed at $5 with 301,603 shares trading, Medical Disposables traded 400 shares to close at $3.40 and tTech gained 50 cents in trading 746,761 units to close at $4.50.
All Jamaica jumps 2,500 points
Scotia Group jumped to $32.89 from $30.70 with 564,857 shares helped push the All Jamaica composite by nearly 2,500 points in early Friday morning on the Jamaica Stock Exchange. At the same time Blue Power traded 3,881 shares at a new 52 weeks’ high of $16, to gain $1. Activity picked up on the first trading day for July with five company’s stocks trading over 100,000 units and one over 90,000 shares.
After 75 minutes of trading in the early morning session, on Friday, Caribbean Cream traded 96,989 units bat $5.50., Lasco Manufacturing had 193,204 shares trading at $5, Margaritaville Turks traded 150,000 units at 19 US cents, Supreme Ventures traded 300,000 shares at $4.54 and tTech had 746,761 shares trading at $4.50.
Trading resulted in activity in 28 securities, accounting for a volume of 2,175,463 shares compared to as 14 stocks gained and 5 declined. The average number of shares traded amounts to 77,695 units compared to an average of 71,299 units on Thursday.
The all Jamaica Composite Index jumped 2,431.09 points to 179,885.32, the Jamaica Stock Exchange Market Index surged 2,173.75 points to 161,891.19, the Jamaica Stock Exchange combined index climbed 1,823.55 to close at 172,630.57 points andthe junior market index rose 0.27 points to 2,214.16.
