Trading in the early morning session on the Jamaica Stock Exchange, has been moderate, with four stocks trading more than 100,000 units with Jetcon Corporation having 654,721 shares trading at $3, JMMB Group 7.5% preference share trading 529,000 units at $1.04 followed by Kingston Wharves with 500,000 shares trading with a loss of 
$1.50 at $11.50 and Scotia Group with 247,061 units at $30.50. The trade in Jetcon Corporation left only three sell order in the system, starting at $3.15.
After 75 minutes of trading, on Friday, the average volume traded amounts to 92,039 units per active stock, compared to an average of 104,305 units in the mid-morning session on Thursday.
Trading resulted in activity in 25 securities, accounting for 2,300,975 shares changing hands as 8 stocks gained and 12 declined.
The market saw the all Jamaica Composite Index dropped 1,680.04 points to 168,659.85, the JSE Market Index fell 1,502.22 points to 151,853.87, the JSE combined index ended with a fall of 1,652.77 points to 162,685.65 and the junior market index fell 25.23 points to 2,127.68.
JSE pulled back early Friday
4 new lows for TTSE – Thursday
NCB is the sole rising stock on the TTSE on Thursday.
Trading ended with 1,649,710 shares valued at $3,258,584 changing hands.
The Composite Index advanced by 0.81 points to close at 1,119.81, the All T&T Index fell 0.89 points to close at 1,786.12 and the Cross Listed Index rose by 0.35 points to 60.26.
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 5 with offers that were lower.
Gains| National Commercial Bank rose 5 cents to close with 136,865 shares for a value of $328,376, trading at $2.40.
Losses| First Citizens Bank traded 1,565 shares but fell 7 cents to end at a new 52 weeks’ low of $33.03, Massy Holdings closed at 52 weeks’ low of $49.98 after losing 1 cent, to close with 15,150 shares changing hands. National Flour lost 10 cents to end at $2.20 as 451,652 shares valued at $993,596 changed hands, Republic Financial fell 1 cent to a 52 weeks’ low of $108.79 with a mere 14 units changing hands.
Scotiabank had 40 shares trading at $54.96 after falling 1 cent for a 52 weeks’ low and Trinidad and Tobago NGL fell 1 cent in closing at $19.60 with 7,686 shares trading.Firm Trades| Clico Investment Fund traded 12,587 units at $22.55, Guardian Holdings closed at $13 with 2,000 shares trading, Guardian Media closed at $19.75 with 500 shares traded. JMMB Group closed at 58 cents with 1,000,000 shares changing hands for a value of $580,000, Point Lisas Industrial Port Development traded 1,651 at $3.94 and Trinidad Cement ended with 20,000 units trading at $3.35.
Low volumes continue on JSE – Thursday
Kingston Wharves traded at a new high of $13 on Thursday.
Trading on the Jamaica Stock Exchange on Thursday ended with very low volumes in the main market as just 2.27 million shares, including 1.48 million from the preference sector traded, well below the junior market. A total of 36 securities changed hands, accounting for 5,704,171 units valued at a mere $29,931,176, in all market segments.
The junior market accounted for 3,434,205 shares valued at $13,133,950. At the close of trading 17 stocks in the overall market gained, 13 declined including 6 of the stocks rising and 4 declining, from the junior market. Two stocks ended at 52 weeks’ closing highs including one in the junior market.
The JSE Market Index dropped 495.26 points to end at 153,356.09. The all Jamaica Composite Index pulled back 553.88 points to close at 170,339.89 and the JSE combined index climbed down 628.43 points, to close at 164,337.92.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 9 stocks with bids higher than their last selling prices and 4 with lower offers.
At the end of market activities, Cable & Wireless closed at $1.36 after losing 3 cents while trading 42,179 units, Caribbean Cement traded 4,120 shares but the price gained 50 cents to close at $26.50, Carreras recovered 50 cents while trading 18,220 shares, to close at $64. Ciboney traded 108,000 shares but fell 2 cents to end at 12 cents, Grace Kennedy gained 50 cents to end at $83.50 with 6,038 shares changing hands, Jamaica Broilers had 54,653 units changing hands, to close at $14.55, after rising by 5 cents. Jamaica Producers jumped $1.25 with just 250 units changing hands at $34.50, JMMB Group rose by 50 cents in trading 3,627 shares to close at $10.50,
Kingston Wharves traded just 200 shares and gained 70 cents to close at a 52 weeks’ high of $13, National Commercial Bank fell 65 cents while trading 22,416 shares to close at $40.25. Radio Jamaica traded 39,500 shares but fell 4 cents to $1.15, Sagicor Group climbed by $1 to end with 323,077 shares changing hands at $23, Sagicor Real Estate Fund traded 18,156 shares to close at $10.15 after falling 10 cents, Scotia Group declined by $1 to close at $32 while 43,830 units changed hands. Supreme Ventures fell 30 cents and closed at $5.35 with 80,300 shares changing hands, Proven Investments traded 24,067 share at 20 US cents and JMMB 7.5% preference shares traded 1,476,960 units at $2.14 for the loss of 1 cent.
Back to normal for juniors – Thursday
Recently listed Jetcon Corporation traded at a new high of $3 on Thursday .
The junior market closed on Thursday with much less trading than for the past two trading days as trading fell back to more normal levels. At the close a total of 3,434,205 shares valued at $13,133,950 traded and the market index slipped from Wednesday’s close.
One stock ended at a 52 weeks’ high as 15 securities traded, with 7 advancing and 5 declining. The junior market index fell 16.48 points, to end at 2,152.91. A total of 3 stocks closed with bids higher than their last selling prices and 4 ended with lower offers.
At the end of trading, AMG Packaging closed at $13 with 1,399 units changing hands, CAC 2000 traded 1,227 shares but fell 40 cents, to $6.50. Caribbean Cream traded 278,527 units and rose 10 cents, to end at $4.70, as demand increased and selling eases for the stock, after the company reported strong gains in profit, for the year to February. Caribbean Producers traded 227,325 units a fell by 11 cents to end at $3.90. Consolidated Bakeries fell 15 cents with 5,000 shares changing hands at $1.23, General Accident ended trading with 649,313 shares, to close at $2.70, Honey Bun fell 10 cents to end at $18.20 with 21,190 shares trading, as investors interest in the stock continues with the proposed stock split is expected to be approved later in May. Jamaican Teas traded 2,455 shares to end at $3.91. 
Jetcon Corporation rose 10 cents and ended at a 52 weeks’ high of $3 while 10,477 units traded as selling pressure eases for this stock with only 4 offers posted at the close of trading. KLE Group had 518,582 shares trading and gained 15 cents to close at $1.60, Lasco Distributors closed with 84,517 units trading, ended with a gain of 5 cents to close at $27.50, Lasco Financial closed at $3.49 with 43,670 shares changing hands. Lasco Manufacturing rose 2 cents to close at $4.60 with 1,578,723 shares trading, Medical Disposables traded 4,000 shares to close 27 cents higher at $3.42 and tTech ended with 7,800 shares changing hands and gained 30 cents to close at $4.45.
More US$ bought than sold – Thursday
Trading in the Jamaican foreign exchange market saw dealers purchasing a moderate amount of US dollars over the amount they sold on Thursday, while the total amount of currencies bought by dealers was slightly more than the amount sold. The local currency still suffered losses against the US dollar.
The market closed with dealers buying the equivalent of US$30,846,091 and selling US$29,596,417, in contrast to US$34,649,112 purchased and US$40,256,846 sold on Wednesday.
In US dollar trading, dealers bought US$28,578,046 compared to US$31,302,170 on Wednesday, as the buying rate for the US dollar fell 7 cents to close at $122.84. 
A total of US$27,862,374 was sold versus US$38,684,691 on Wednesday with the selling rate rising 5 cents to $123.56. The Canadian dollar buying rate dropped $1.54 to end at $92.56 with dealers buying C$652,621 and selling C$771,360, at an average rate that rose 70 cents to $96.47. The rate for buying the British Pound fell 94 cents to $175.15 for the purchase of £1,184,774, while £730,094 was sold, as the rate rose $2.32 to $179.78.
At the end of trading, the selling rate for Euro, declined 18 cents to close at J$141.95, from Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$139.14 for a fall of $1.90 from Wednesday’s rate. The US dollar equivalent of other currencies traded amounts to US$86,981 being bought, while US$69,571 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates for the Jamaican dollar against the main currencies on Thursday are, a fall of 95 cents in the highest buying rate of the Canadian dollar to end at $96.55 and a decline of $1.03 in the lowest buying rate to $75.95, a drop of $5.86 in the highest buying rate for the British Pound to end at $178,60 and a fall of 79 cents in the lowest buying rate to $142.39.
Juniors edge up majors down early Thursday
The junior market index edged up slightly but the main market indices quite a bit. in Trading, JMMB Group 7.5% preference share traded 1,476,960 followed by General Accident were dominant trades in the morning session on the Jamaica Stock Exchange, at 
the same time Jetcon Corporation traded at a new high of $3 on a morning when declining stocks had the upper hand over advancing ones.
After 75 minutes of trading, on Thursday, the average volume traded amounts to 104,305 units per active stock, compared to an average of 697,832 units in the mid-morning session on Wednesday.
Trading resulted in activity in 29 securities, accounting for 3,024,838 shares changing hands as 8 stocks gained and 12 declined.
The market saw the all Jamaica Composite Index dropped 1,071.31 points to 169,822.46, the JSE Market Index fell 957.93 points to 152,893.42, the JSE combined index ended with a fall of 883.58 points to 164,082.77 and the junior market index gained 0.49 points to 2,169.88.
Tax impairs Jn Life profit
A rise in the charge in taxation for 2015 to $35 million, from $3 million in 2014, eroded the 20 percent gain in gross premium income, JN Life Insurance realized, for the year ended December 2015.
Premium income amounted to $352 million from $294 million for the prior period leading to net premium income of $292 million for an increase of percent over the $250 million netted in 2014.
Operating cost and net insurance benefits increased from $155 million to $184 million an increase of 19 percent, just a shade lower than the increased premium income.
The tax rate increase resulted from the introduction of a corporate income tax last year March that replaced premium and investment taxes at rates of 3 percent and 15 percent respectively. Thus the effective corporate tax rate for JN Life for 2015 was 26 percent of pre-tax profit in contrast to 2.4 percent for 2014.
Although profit before tax increased from $118 million to $135.5 million profit after tax fell from $115 million in 2014 to $100 million, due to the increased tax.
While profits declined moderate total assets grew 36 percent year-on-year from $355 million to $481 million. Investments, which were mainly in BOJ certificate of deposits and government notes, increased by 31 percent over the $293 million reported for 2014 to $384 million.
Low volumes hit JSE’s stocks – Wednesday
Trading on the Jamaica Stock Exchange on Wednesday ended with low volumes in the main market as just 1.48 million shares traded, well below the junior market. A total of 35 securities changed hands, accounting for 18,969,634 units valued at $146,769,004, in all market segments.
The junior market accounted for 17,488,687 shares valued at $129,088,773. At the close of trading 11 stocks in the overall market gained, 11 declined, including 6 of the stocks rising and 4 declining coming from the junior market. Two stocks ended at 52 weeks’ closing highs in the junior market and none in the main market.
The JSE Market Index gained 473.41 points to end at 153,851.35. The 
all Jamaica Composite Index rose 529.45 points to close at 170,893.77 and the JSE combined index climbed 550.16 points, to close at 164,966.35.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 13 stocks with bids higher than their last selling prices and 6 with lower offers.
At the end of market activities, Barita Investments traded 32,391 shares and gained 39 cents to close at $3.44, Cable & Wireless closed at $1.39 while trading 120,853 units, Caribbean Cement traded 37,772 shares but the price fell by 49 cents to close at $26, Carreras recovered 50 cents while trading 18,929 shares, to close at $63.50. Ciboney traded 399,444 but lost 1 cent to end at 14 cents, Jamaica Broilers had 309,968 units changing hands, to close at $14.50. JMMB Group lost 20 cents in trading 16,127 shares to close at $10, Kingston Wharves 
traded 16,000 shares and gained 30 cents to close at $12.30, Mayberry Investments dropped 25 cents in trading 165,669 shares to close at $4. National Commercial Bank fell 10 cents while trading 104,295 shares to close at $40.90, Sagicor Group fell 40 cents to end with 172,795 shares changing hands at $22, Scotia Group declined by 20 cents to close at $33 while 25,000 units changed hands, Seprod ended with 15,000 units trading but recovered from Tuesday’s loss, by adding $1.40 at $17. Supreme Ventures climbed 15 cents and closed at $5.65 with 7,760 shares changing hands, Proven Investments traded 13,398 share at 20 US cents and JMMB 6% US preference shares traded 16,730 units at $1.10.
Dealers sold US$7m more than bought – Wednesday
Trading in the Jamaican foreign exchange market saw dealers purchasing US$7 million less they sold on Wednesday, with the rate of the local dollar continuing to be eroded against the critical US dollar. The Jamaican dollar nevertheless gained against the Pound and the Canadian dollar.
The market closed with dealers buying the equivalent of US$34,649,112 and selling US$40,256,846, in contrast to US$35,269,451 purchased and US$41,196,078 sold on Tuesday.
In US dollar trading, dealers bought US$31,302,170 compared to US$32,440,716 on Tuesday, as the buying rate for the US dollar rose 45 cents to close at $122.91. A total of US$38,684,691 was sold versus US$39,691,937 on Tuesday with the selling rate rising 11 cents to $123.51. 
The Canadian dollar buying rate climbed 14 cents to end at $94.10 with dealers buying C$891,028 and selling C$679,332, at an average rate that slipped $1.59 to $95.77. The rate for buying the British Pound rose 49 cents to $176.09 for the purchase of £1,790,583, while £630,659 was sold, as the rate fell $1.60 to $177.46.
At the end of trading, the selling rate for Euro, climbed 30 cents to close at J$142.13, from Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$141.04 for a fall of 8 cents from Tuesday’s rate.
The US dollar equivalent of other currencies traded amounts to US$99,484 being bought, while US$139,307 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates for the Jamaican dollar against the main currencies on Wednesday are, a rise of $18.98 in the lowest selling rate of the US dollar to end at $119.35, a fall of $1 in the highest buying rate of the Canadian dollar to end at $97.50 and an increase of $3.10 in the lowest selling rate to $90.30, a rise of $3.46 in the highest buying rate for the British Pound to end at $184.46, a fall of $2.59 in the highest selling rate to $184.79 and a rise of $3 in the lowest selling rate to $171.
LasD big day on Wednesday
The Lasco Distributors traded 16.5m shares on Wednesday.
There were two 52 weeks’ highs with 15 active securities trading, as 6 advanced and 4 declined and the junior market index rose 10.83 points, to end at 2,169.39. A total of 3 stocks closed with bids higher than their last selling prices and 5 ended with lower offers.
At the end of trading in the market, Caribbean Cream traded 3,000 units and rose 15 cents to end at $4.60, Caribbean Flavours traded 17,000 units at $8.50, Consolidated Bakery gained 3 cents with 76,757 shares changing hands at $1.38, Dolphin Cove gained 1 cent 23,856 to end at $12.51. General Accident ended trading 9,000 shares to close at $2.70, Honey Bun jumped $1.30 to end at a 52 weeks’ high of $18.30 with 7,042 shares trading,
ISP Finance gained 6 cents to close at a 52 weeks’ high of $2.80 with 63,000 shares. Jamaican Teas traded 8,000 shares to end at $3.91, Jetcon Corporation ended at $2.90 while 294,854 units traded, Knutsford Express had 2,100 shares trading and gained $2.10 to close at $18.90, Lasco Financial lost 1 cent to close at $3.49 with 218,990 shares changing hands. Lasco Manufacturing lost 1 cent to close at $4.58 with 195,355 shares trading, Medical Disposables traded 62,200 shares to close 27 cents lower at $3.15 and Paramount Trading ended with 35,000 shares changing hands at $10.85.
