Jamaica is currently passing through a period of deflation according to data released by the Statistical Institute of Jamaica. According to the state entity responsible for gathering economic data, the consumer price index declined for the 4th consecutive month to April compared with the prior months, with the rare falling 0.40 percent in April compared to March 2016.
For the year to date there has been negative inflation of 1.7 percent.
The data was released today by the Statistical Institute of Jamaica (STATIN). According to STATIN “impacting the movement were the divisions Food and Non-Alcoholic Beverages recording a negative 0.5 percent and Housing, Water, Electricity, Gas and Other Fuels declining by 2.2 percent”. The fall recorded for the division Food and Non-
Alcoholic Beverages was due primarily fall in the prices of the group of Vegetables and Starchy Foods, falling by 2.6 percent. Housing, Water, Electricity, Gas and Other Fuels decrease, was due to lower electricity and water rates. Increased prices were seen Transport, due mainly to higher prices for petrol, Clothing and Footwear, Furnishings, Household Equipment and Routine Household Maintenance, Health, Recreation and Culture, Restaurants and Accommodation Services and Miscellaneous Goods and Services.
Jamaica’s $ competitiveness may be up 5%
The Jamaican dollar may have gained 5 percent in competitiveness for the year to date against the US dollar. The closing selling rate for 2015 ended at $120.42 and has so far slipped by 3.5 percent to Monday, with inflation being negative 1.7 percent between January and April this year, the Jamaican dollar has picked competitiveness above the change in the rate of exchange.
The foreign exchange market closed on Monday, with dealers buying the equivalent of US$47,761,762 and selling US$44,338,122, in contrast to US$35,541,148 purchased and US$47,935,497 sold on Friday with the rate for the important US dollar rising to record new lows for the Jamaican dollar.
In US dollar trading, dealers bought US$44,507,300 compared to US$32,883,247 on Friday, as the buying rate for the US dollar rose 5 cents to $123.83.
A total of US$42,340,729 was sold versus US$41,138,924 on Friday with the selling rate rising 8 cents to $124.65. The Canadian dollar buying rate dipped 8 cents to end at $92.26 with dealers buying C$1,069,725 and selling C$866,429, at an average rate that rose 86 cents to $96.50. The rate for buying the British Pound fell 89 cents to $174.92 for the purchase of £1,621,031, while £658,096 was sold, with the rate falling $1.81 to $177.42.
At the end of trading, the selling rate for Euro, fell $1.08 to close at J$140.75, from Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$137.76, for a fall of $1.14 from Friday’s rate. The US dollar equivalent of other currencies traded amounts to US$167,489 being bought, while US$390,004 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the Jamaican dollar traded at in the foreign exchange market on Monday, include, a decline in the highest selling rate of $29.21 for the US dollar to $130.79, a drop of $19.40 in the lowest selling rate to end at $100.70. There was a rise of $3.45 in the highest buying rate of Canadian dollar to end at $98.75 and a rise of $3.11 in the lowest buying rate to end at $76.11, while the lowest selling rate fell $2 to $89. The highest buying rate for the British Pound dropped $3.35 to $179.65 and the highest selling rate slipped $1.08 to $184.68.
New records for 3 stocks – Monday
JPSCo trades at new high on Monday at $1,247.
Investors pushed the price of 16 stocks in the overall market up, 11 down, including 5 stocks rising and 6 declining, from the junior market.
The JSE Market Index jumped 1,484.96 points to end at 153,251.61. The all Jamaica Composite Index shot up 1,660.74 points to close at 170,223.05 and the JSE combined index rose 1,336.47 points, to close at 164,523.28.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 10 stocks with bids higher than their last selling prices and 6 with lower offers.At the end of market activities, Cable & Wireless lost 2 cents and closed at $1.47 after trading 132,302 units, Ciboney traded 100,000 shares to close at 13 cents. Grace Kennedy shot up $4.49 with 14,300 shares trading to close at $90. Jamaica Broilers ended at $14.50 while trading 306,339 shares, Jamaica Producers fell 90 cents to $32 with 58,803 units changing hands on a day the company advised the stock exchange that the directors will be meeting to consider a stock bonus. Jamaica Stock Exchange had 35,549 shares trading at $21, JMMB Group traded 94,284 shares at $9.99, for a 14 cents gain. National Commercial Bank traded just 5,551 shares, to close with a gain of 25 cents at $40,
Pan Jamaican Investment jumped $5 to close trading at $125 with 26,773 shares changing hands, Radio Jamaica traded 67,645 shares at $1.10, Sagicor Group ended with 145,082 shares changing hands, but lost 20 cents, to end at $22.80. Scotia Group closed at $30.50 while only 3,000 units changed hands after gaining 49 cents, Supreme Ventures closed at $4.50 with 21,308,893 shares valued at $96,057,185 changing hands after declining by 97 cents. Proven Investments traded 25,980 shares at 17.50 US cents, Jamaica Money Market Brokers 7.5% preference share ended with 366,900 units trading at $2.14 and Jamaica Public Service 9.5% preference share climbed $46, in trading 81,662 units with a value of $101,832,514, to end at a record of $1,247.
Juniors slip slightly on Monday
The junior market edged lower at the close on Monday, with 632,321 shares valued at $2,290,950 changing hands. The market index lost 4 points to end at 2,180.43 as a total of 15 securities traded, with 5 advancing and 6 declining. The junior market ended with bids for 5 stocks closing higher than their last selling prices and 3 ending with a lower offer.
At the end of trading, CAC 2000 closed while trading 800 shares to end at $6.40, Caribbean Cream lost 1 cent with 25,000 shares changing hands at $4.94, Caribbean Producers traded 100,000 shares with a gain of 10 cents to end at $4, Consolidated Bakeries gained 15 cent to close at $1.60 with 127,159 shares changing hands. Dolphin Cove rose 20 cents while trading 1,515 units to close at $12.75, Honey Bun closed with a loss of 5 cents to $21.95, with 7,962 shares trading. Iron Rock Insurance traded 180,416 shares at $3.40, 
Jamaican Teas traded 59,474 shares to end at $3.55, Jetcon Corporation traded 26,000 units to close with a loss of 10 cents at $2.90, KLE Group rose 20 cents in trading 20,000 shares and closed at $1.60. Knutsford Express closed with 1,570 shares trading at $18, Lasco Distributors closed with 22,730 units trading with the price declining 14 cents to close at $7.51, Lasco Financial closed at $3.49 with 49,843 shares changing hands for a fall of 1 cent. Lasco Manufacturing closed at $4.68 with 7,852 shares trading, but fell by 8 cents and Paramount Trading closed with a rise of 55 cents as 2,000 units changed hands at $11.05.
TTSE goes slightly higher on Monday
JMMB traded at a new high on the TTSE on Monday
The market closed with 9 active securities changing hands on Monday and ended with 4 stocks rising, 2 declining while 3 remaining unchanged on Monday, as 233,334 shares valued at $1,259,743 changed hands.
The Composite Index inched up 0.35 points to close at 1,108.88, the All T&T Index gained 1.08 points to close at 1,764.21 and the Cross Listed Index fell 0.05 points to 60.29.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 5 stocks with the bid higher than the last selling prices and 8 with offers that were lower. The indicators are pointing to more losses for the market, with the prices of some large capitalized stocks set for further declines with offers at or below the last traded prices and bids for a small number of shares which are in some instances some distance from the last traded prices.
Gains| Grace Kennedy rose 5 cents and closed with 2,000 shares trading at $5.20, JMMB Group rose 5 cents to close at 52 weeks’ high of 65 cents, with 105,324 shares changing hands. Sagicor Financial closed with 32,000 units changing hands at $7.15, after rising 2 cents and Trinidad Cement traded at $3.50 with 600 units changing hands to gain 15 cents.Losses| Massy Holdings traded 1,600 shares but lost 3 cents to close at a 52 weeks’ low of $48.92, the stock closed with the offer at just $48 and National Commercial Bank traded 10,000 shares but lost 5 cents to end at $2.35.
Firm Trades| Clico Investment Fund traded 63,571 shares valued at $1,436,883 to close at $22.60, Praetorian Property Mutual Fund traded 50,000 units at $2.70 and Trinidad and Tobago NGL traded 1,750 units to close at $20.
Pan Jam & Grace at new highs – Monday
Grace Kennedy and Pan Jamaican Investment traded at new 52 weeks’ high in the early morning session on the Jamaica Stock Exchange, with Grace hitting $90 following impressive first quarter results
and Pan Jamaican traded as high as $130 but traded later at $125 in continued reaction to the company’s announced 5 fro 1 stock split, on a morning session of moderate trading.
The gains in the two stocks helped to push the main market indices up sharply by more than 1 percent.
After 75 minutes of trading in the early morning session, on Monday, the all Jamaica Composite Index rose 2,035.21 points to 170,597.52, the JSE Market Index gained 1,819.80 points to 153,586.45, the JSE combined index was up 1,726.04 points to 164,912.85 and the junior market index gained just 3.70 points to 2,188.13.
Stocks traded more than 100,000 units are, Caribbean Producers with 100,000 at $4 and Ciboney with 100,000 units. Trading resulted in activity in 23 securities, accounting for 490,595 shares changing hands as 10 stocks gained and 4 declined. The average number of shares traded is 21,330 units.
Remittances down in January
Remittances into Jamaica for January, this year declined compared the similar month in 2015, a report on remittance flows out of the country’s central bank shows.
Gross inflow for the month was US$6 million of or 3.6 percent off the intake in January 2015 to end up at US$160 million.
Remittance outflows amounted to US$22.4 million which was 18.7 percent higher than the $19 million that went out in the 2015 period. The combination of the inflows and increased outflows resulted in net total inflows of US$138 million, representing a decrease of US$9.5 million or 6.4 percent, relative to the corresponding period of 2015. The decline is the only January that there has been a decline from since inflows fell in 2009 below the intake for January 2008.
Juniors close up on Friday
One Honey Bun’s Products – the stock ended at a new closing high of $22
The junior market inched forward at the close on Friday, with a mere 193,019 shares valued at $1,341,812 changing hands. The market index added just 8.11 points to end at 2,184.43 as a total of 13 securities traded, with 3 advancing and 5 declining. The junior market ended with bids for 3 stocks closing higher than their last selling prices and 2 ending with lower offers.
At the end of trading, CAC 2000 closed while trading 10,000 shares to end at $6.40, Caribbean Cream fell 5 cents with 9,000 shares changing hands at $4.95, Derrimon Trading dipped 30 cents while trading 400 units to close at $4.50, Honey Bun closed at a new 52 weeks’ high of $22, after rising $1.50, with 19,637 shares trading. Iron Rock Insurance traded 2,725 shares at $3.40, 
Jamaican Teas traded 612 shares and fell 25 cents to end at $3.55, Jetcon Corporation traded 60,000 units to close at $3, Key Insurance lost 17 cents in trading 3,000 shares and closed at $2.50. Knutsford Express gained $1 to close with 6,200 shares trading at $18, Lasco Distributors closed with 42,370 units trading with the price rising 4 cents to close at $7.65, Lasco Financial closed at $3.50 with 15,715 shares changing hands. Lasco Manufacturing closed at $4.76 with 21,890 shares trading, to gain 1 cent and tTech closed with 1,470 units at $4.50.
Sales exceed buying by US$12.5m – Friday
The foreign exchange market closed on Friday, with dealers buying the equivalent of US$35,541,148 and selling US$47,935,497, in contrast to US$34,538,580 purchased and US$28,970,535 sold on Thursday. The net amount sold includes US$4 equivalent of the Pound was sold than the amount purchased by dealers.
In US dollar trading, dealers bought US$32,883,247 compared to US$31,823,942 on Thursday, as the buying rate for the US dollar rose 13 cents to $123.78. A total of US$41,138,924 was sold versus US$26,895,108 on Thursday with the selling rate rising 21 cents to $124.57.
The Canadian dollar buying rate dipped $1.47 to end at $92.34 with dealers buying C$668,675 and selling C$415,469, at an average rate that lost $1.02 to $95.64. The rate for buying the British Pound fell 35 cents to $175.81 for the purchase of £1,451,605, while £4,434,263 was sold, with the rate climbing by 60 cents to $179.63.
At the end of trading, the selling rate for Euro, fell 11 cents to close at J$141.83, from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$138.90, for a fall of 10 cents from Thursday’s rate. The US dollar equivalent of other currencies traded amounts to US$97,337 being bought, while US$97,985 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the Jamaican dollar traded at in the foreign exchange market on Friday, include, a rise of $29.54 in the highest selling rate of US dollar to end at $160, a rate that seems out of line with other rates the US dollar traded at. There was a fall of $2.90 in the highest buying rate of Canadian dollar to end at $95.30 and a fall of $3.11 in the lowest buying rate to end at $73, lowest selling rate jumped $6.50 to end at $91. The highest buying rate for the British Pound rose $2.50 to $183 and the lowest selling rate slipped $1 to $170.
TTSE halts fall on – Friday
Trading showed improvement in market sentiments with fewer lows as well as the number of declining stocks falling from the levels on Thursday. The market ended with no stocks trading at 52 weeks’ lows and none at new highs. Demand for stocks continue to be low on the Trinidad & Tobago stock market. The market closed with 12 active securities changing hands on Friday.
Trading ended with 3 stocks rising, 2 declining while 7 remaining unchanged on Friday, as 196,119 shares valued at $2,546,049 changed hands.
The Composite Index inched up 0.25 points to close at 1,108.53, the All T&T Index eased 0.12 points to close at 1,763.13 and the Cross Listed Index rose 0.09 points to 60.34.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 4 stocks with the bid higher than the last selling prices and 10 with offers that were lower. The indicators are pointing to more losses for the market, with the prices of some large capitalized stocks set for further declines with offers at or below the last traded prices and bids for a small number of shares which are in some instances some distance from the last traded prices.
Gains| Guardian Holdings rose by 2 cents and close with 1,785 shares traded at $13.02, National Commercial Bank traded 6,715 shares at $2.40 and regained 1 cent and Sagicor Financial with 97,378 units valued at $694,785 changing hands, ended at $7.10 after rising 5 cents.
Losses| Clico Investment Fund traded 63,571 shares valued at $1,436,883 to close 5 cents down at $22.60 and Prestige Holdings fell 13 cents and closed with 8,656 shares changing hands, to end at $11.27.
Firm Trades| Ansa McAl traded 15 units at $62.59, Guardian Media traded 300 shares with the price remaining at $19.75, National Flour closed at $2.20 with 77 shares changing hands. Scotia Investments traded 4,732 shares to end at $1.60, Trinidad Cement traded firm at $3.35 with 100 units changing hands, Trinidad and Tobago NGL traded 12,746 units to close at $20 and West Indian Tobacco closed at $126.36, with just 54 units trading.
