The Jamaica dollar gained just under 10 percent in value against the severely battered Pound sterling, at the close of forex trading on Tuesday, from the closing level last Thursday, when it was sold for J$184.68, compared to J$167.22 on Tuesday. The local dollar lost ground against the US dollar but made some gains versus the Canadian dollar.
The foreign exchange market closed with dealers buying the equivalent of US$3 million more than the amount sold in all currencies, bringing the surplus purchased in two days to $13.5 million, with the total bought by dealers amounting to US$56,629,059 while they sold US$53,695,732, in contrast to US$53,067,021 purchased and US$42,684,340 sold on Monday.
In US dollar trading, dealers bought US$53,017,555 compared to US$49,249,650 on Monday as the buying rate for the US dollar rose 23 cents to $125.99. A total of US$52,006,860 was sold versus US$40,553,474 on Monday with the selling rate rising 1 cent to $126.38. The Canadian dollar buying rate climbed by 98 cents to end at $93.76 with dealers buying C$970,519 and selling C$463,363, at an average rate that fell 55 cents to $96.23. The average rate for buying the British Pound dived $2.06 to $166.81 for the purchase of £1,991,457, while £575,709 was sold, with the rate dropping $4.07 to $167.22.
At the end of trading, the selling rate for Euro, dropped $1.74 cents to close at J$138.70 from Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$135.97, for a decline by $1.53 from Monday’s rate. The US dollar equivalent of other currencies traded amounts to US$252,500 being bought, while US$574,305 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates for the Jamaican dollar in the foreign exchange market on Tuesday, a decline of $1.24 in the lowest buying rate of the Canadian Dollar to $75.78, a fall of $2.46 in the highest selling rate to end at $99.60 and a fall of $1 in the lowest selling rate to $90. The highest buying rate for the British Pound dived $5.70 to $180, the lowest buying rate dropped $5.64 to $131.31 and the lowest selling rate dropped by $2.80 to end at $155.20.
TTSE ends higher – Tuesday
Trading on the Trinidad and Tobago stock market accounted for 731,354 shares valued at $2,437,546 changing hands. At the close, 14 securities traded with 2 gaining, 2 declining, while 10 remained unchanged.
The Composite Index advanced by 0.16 points or to close at 1,136.07, the All T&T Index fell 0.24 points to close at 1,788.72 and the Cross Listed Index advanced by 0.08 points to 64.35.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 5 stocks with bids higher than their last selling prices and 7 with offers that were lower.
Gains| Praetorian Property Mutual Fund contributed 465,450 shares valued at $1,172,780 to end at $2.51 after rising by 1 cent and Sagicor Financial traded 14,300 units to gain 8 cents and ended at $7.25.
Losses| Republic Financial Holdings declined by 5 cents to close at a 52 weeks’ low of $107.19 with just 30 shares changing hands and Scotiabank lost 2 cents to close at $53.82 with 442 shares traded.
Firm Trades| Clico Investments ended with 8,820 shares changing hands to end at $22.66, Guardian Holdings closed trading at $12.80, with 5,555 shares changing hands, JMMB Group traded 202,344 shares at 60 cents, Massy Holdings closed at $55.25 with 11,920 shares changing hands valued at $658,580. National Commercial Bank traded 18,514 shares to close at $2.60, National Flour Mills had 1,915 shares changing hands at $2.30, One Caribbean Media traded 30 shares to end at $21.24. Trinidad and Tobago NGL closed at $22.25 with 1,000 units changing hands, Trinidad Cement had 1,000 shares changing hands ended at $3.42 and West Indian Tobacco closed trading with 34 shares at $126.28.
Juniors dented – Tuesday
The junior market closed trading on Tuesday with the market index dropping sharply by 38.02 points to 2,167.59. Only 11 active securities with the volume at 829,809 shares valued at $2,684,479 changed hands. At the close, 3 stocks advanced and 5 declined while one closed at a new low.
At the end of trading 9 stocks closed with the bids higher than their last selling prices and 2 ended with lower offers.
At the end of trading, Blue Power Group traded 900 shares and rose 15 cents to end at $13.70, CAC 2000 had 500 shares trading firm at $6.95, Caribbean Cream gained 10 cents with 44,500 shares changing hands to close at $5.10, Caribbean Producers traded 4,000 units to end at $4.06 with a gain of 6 cents. C2W Music had 268,277 shares changing hands, but fell 6 cents to close at an all-time low of 28 cents, Honey Bun lost 40 cents to close at $5.20 with 4,412 units changing hands, Key Insurance closed at $2.50 with 3,600 units changing hands. Lasco Distributors dropped 60 cents in trading 184,611 units to end at $7, Lasco Financial closed with a fall of 1 cents at $3.49, with 800 shares changing hands, Lasco Manufacturing closed at $5 with 17,607 shares trading and Medical Disposables traded 300,602 shares to close with a loss of 25 cents at $3.
JSE down in early trading
Trading, early Tuesday morning on the Jamaica Stock Exchange continues the slow pace evident for early summer month with moderate volumes with few stocks trading over 100,000 shares. After 75 minutes of trading in the early morning session, on Tuesday, the main market indices gave up ground while the junior market gained moderately.
Only three stocks trade over 100,000 units, with 1834 Investments trading 110,958 shares at $1.02, Proven Investments 262,000 ordinary shares at 17.98 US cents, Sagicor Real Estate X Fund traded 126,843 but fell 3 cents to $10.12.
Grace Kennedy jumped $1.40 to $124.50, Montego Bay Ice jumped $2.60 to $17.50 and Scotia Investments climbed $1.70 to $27.70.
Trading resulted in activity in 23 securities, accounting for a volume of 652,351 shares compared to as 7 stocks gained and 6 declined. The average number of shares traded amounts to 28,363 units compared to an average of 83,135 units on Monday.
The all Jamaica Composite Index fell 105.04 points to 177,444.31, the Jamaica Stock Exchange Market Index dipped 93.92 points to 159,708.57 the Jamaica Stock Exchange combined index fell 63.58 to close at 170,778.93 points andthe junior market index rose 2.28 points to 2,207.89.
Juniors close down on Monday
The junior market closed trading on Monday with only 9 active securities as the volume climbed to 3,510,504 shares valued at $14,348,452 changing hands as the market saw a number of relatively large trades taking place. At the close the junior market index fell by 10.02 points to 2,205.61. Only 3 stocks advanced and 2 declined.
At the end of trading 5 stocks closed with the bids higher than their last selling prices and 3 ended with lower offers.
At the end of trading, Consolidated Bakeries traded 623,874 units to end at $1.85, Derrimon Trading closed with 100,000 shares changing hands at $3.20 after declining by 10 cents, General Accident traded at $2.06, with 85,500 shares changing hands, Honey Bun lost 20 cents to close at $5.60 with 1,011,707 units changing hands. A total of 987,000 of the Honey Bun shares traded between $5 and $5.20. Iron Rock Insurance closed at $3.26 with 187,915 units changing hands for a gain of 6 cents, at the close the bid is at $3.20 to buy 4.67 million units. Jamaican Teas ended with 96,271 shares but lost 40 cents to close at $3.40, Knutsford Express closed trading with 1,033 shares, to end at $17.50, Lasco Distributors traded 27,017 units to end with a gain of 10 cents, at $7.60. Lasco Financial closed with a fall of 11 cents at $3.50, with 385,735 shares changing hands and Lasco Manufacturing lost 1 cent to close at $5 with 1,083,723 shares trading.
Firstcaribbean jumps 43c on TTSE – Monday
The Composite Index advanced by 6.92 points or to close at 1,135.91, the All T&T Index rose fell 0.17 points to close at 1,788.96 and the Cross Listed Index advanced by 1.91 points to 64.27.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 5 stocks with bids higher than their last selling prices and 6 with offers that were lower.
Gains| Firstcaribbean International Bank traded 9,390 shares and gained 43 cents to end at a 52 weeks’ high of $7 and Sagicor Financial traded 35,743 units to gain 3 cents and ended at $7.14.
Losses| One Caribbean Media traded 1,500 shares and fell 5 cents to end at $21.44, Prestige Holdings with 20,474 units changing hands ended at $10.90 to record a loss of 5 cents, Scotiabank lost 1 cent to close at $53.84 with 328 shares traded and West Indian Tobacco shed 1 cent in trading 26 shares at $126.28.
Firm Trades| Clico Investments ended with 314,708 shares changing hands valued at $7,131,283 to end at $22.66, Guardian Holdings closed trading at $12.80, with 9,333 shares changing hands, Massy Holdings closed at $55.25 with 3,250 shares changing hands. National Commercial Bank traded 39,690 shares, to close at $2.60 and Trinidad and Tobago NGL closed at $22.25 with 1,000 units changing hands.
Honey Bun drops 80c in early JSE trading
Trading, early Monday morning on the Jamaica Stock Exchange continues the slow and moderate pace of recent weeks with few stocks trading over 100,000 shares. After 75 minutes of trading in the early morning session, on Monday, the indices gave up ground with losses in recorded in all the main ones.
Only three stocks that did are Consolidated Bakeries with 323,874 shares at $1.90, Honey Bun with 1,007,307 units but the price fell by 8 cents to $5 and Iron Rock with 187,915 units at $3.20 but still has 4,673,129 units on the bid to buy at $3.20.
Trading resulted in activity in 20 securities, accounting for a volume of 1,662,709 shares compared to as 11 stocks gained and 5 declined, including Jamaica Producers that fell by 99 cents to $48.01, with 7,317 shares changing hands. The average number of shares traded amounts to 83,135 units compared to an average of 45,191 units on Friday.
The all Jamaica Composite Index fell 233.06 points to 176,930.60, the Jamaica Stock Exchange Market Index dipped 208.39 points to 159,249.24 the Jamaica Stock Exchange combined index fell 200.32 to close at 170,442.94 points andthe junior market index slipped 1.17 points to 2,214.46.