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JSE jumped sharply on Monday

February 15, 2016 by IC Insider.com

Carreras traded at a new 52 weeks’ high of $65 on Monday

Investors pushed stock prices sharply higher on the opening day of the week on the Jamaica Stock Exchange with 48 securities changing hands in all market segments. Trading resulted in the prices of 26 securities gaining while 10 declined. Nine stocks closed at 52 weeks’ high and 1 at an intraday high, as 23,823,419 units valued at $153,664,407 changed hands in all markets. The junior market accounted for 19,268,579 units, valued at $109,445,668.
The JSE Market Index jumped 3,162.74 points to 162,457.79 the all Jamaica Composite Index climbed 3,397.05 points to end at 180,512.04 and the JSE combined index shot up by 3,534.54 points to close at 174,083.53.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading was 10 stocks with bids higher than their last selling prices and 3 with lower offers.
At the end of the market activities, Berger Paints fell 2 cents to end at $4.98, with 38,961 units traded, Cable and Wireless ended with 1,050,566 units changing hands at $1.69, Caribbean Cement fell 50 cents to close at $27.50 with 23,415 shares changing hands. Carreras traded as high as $65 in the morning session, following very good December quarter results but closed with a gain of 60 cents, to end at a 52 weeks’ high of $64.10 while trading 84,243 units, Ciboney ended with 593,564 share trading at 21 cents, Jamaica Producers had 30,970 shares trading at $30. Jamaica Stock Exchange ended with 55,290 shares trading to end at $20 but traded at an intraday high of $23, JMMB Group slipped by 70 cents in trading 1,136,590 units to end at $13, JMMB reported lower profit in the December Quarter of 32 cents per share versus 46 cents in 2014 and $1.04 for the nine months compared to $1.08. Margaritaville Turks had 120,900 shares trading at 15 US cents, Mayberry Investments fell 10 cents to close at $4.90 with 464,350 units traded. National Commercial Bank traded 95,580 shares to close at $42 after rising by 50 cents, 138 Student Living traded 299,100 units with a gain of 20 cents to end at a 52 week’s high of $5.50, after trading as high as $5.90. Sagicor Group fell 5 cents and closed at $23 with 38,760 units changing hands, Sagicor Real Estate Fund closed at $12 while trading 13,100 shares, Scotia Group had 73,100 shares changing hands with a rise of $2.50 to close at $34, Scotia Investments had 1,500 units changing hands at $29.80 after gaining 80 cents. Seprod dropped $2 to close at $20 with 20,137 shares trading, Supreme Ventures climbed 70 cents to close at $6.45, with 211,534 units changing hands, Proven Investments ordinary share traded at 22 US cents with 119,531 units and Proven Investments preference share traded 72,476 units to close at $5.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: Berger Paints, Cable & Wireless, Caribbean Cement, Carreras, Ciboney, Jamaica Money Market Brokers, Margaritaville Turks, Mayberry Investments, National Commercial Bank, Proven Investments, Sagicor Group, Sagicor Real Estate Fund, Scotia Group, Seprod, Supreme Ventures

Juniors’ big day with 17 gains – Monday

February 15, 2016 by IC Insider.com

Knutsford Express traded at a new all-time high of $18.50 on Monday.

The junior market enjoyed a strong rebound in trading on Monday with 22 securities trading, 17 of which advanced, 3 declined. The market ended with index having 45.92 points to end at 2,313.78 as 7 stocks closed at a new 52 weeks’ as an unusually large volume of 19,268,579 units changed hands, valued at $109,445,668.
At the close, 2 securities ended with no bid to buy and 8 securities had no stocks being offered for sale but there are strong signs of the possibility of a big move forward, as 3 stocks closed with bids that were higher than their last selling prices and none ended with a lower offer.
Access Financial has not traded for a while and closed with a bid at $18.60 to buy just 2,000 units, 12,600 units at $18.59 and 2,650 units at $18. Bids remain at $17.60 to buy 16,500 units, at $17.55 to buy 5,800 units and 33,700 units with a bid of $17.50, all above the last trade at $16.80. There are three offers posted at the close, at $23.49 to sell 15,150 units, 3,000 units at $23.50 and one at $27 for 5,000 units.
In trading, AMG Packaging lost 1 cent while 860,957 units changed hands, to end at $19.99, CAC 2000 had 15,500 shares changing hands to close 35 cents higher at an all-time high of $7.35 with, C2W Music traded 45,223 shares but lost 2 cents to end at 45 cents. Cargo Handlers gained $1.30 to close at an all-time high of $40.30, as 4,000 units changed hands, Caribbean Cream rose 50 cents while trading 43,962 shares to close at $4.65, Caribbean Flavours ended with 750,363 units changing hands at $8.50, Caribbean Producers gained 40 cents with 8,823 units changing hands to close at $5.90. Consolidated Bakeries traded 4,600 units to close with a rise of 4 cents at $1.79, Derrimon Trading ended with 3,732,015 shares changing hands and closed at a new 52 weeks’ high of at $4.65 for a gain of 10 cents, Dolphin Cove rose 28 cents and ended with 35,670 shares trading at $16, General Accident Insurance traded 4,801,700 units at $2.15 to gain 5 cents, Honey Bun rose 92 cents as 15,705 units changed hands to end at a 52 weeks’ high of $13. Jamaican Teas rose 20 cents while trading 116,703 shares to close at a 52 weeks’ high of $8, KLE Group ended at $2.75 with 12,220 units trading, JM sum 15-2-16

Knutsford Express with 1,139,354 shares changing hands, closed with a gain of 50 cents at a 52 weeks’ closing high of $17.50, the stock traded as high as $18.50 during the day. Lasco Distributors closed with 335,916 units trading, but rose 50 cents to end at $8, Lasco Financial gained 70 cents to $3.70 with 2,528,860 shares changing hands, Lasco Manufacturing ended trading with 4,744,503 shares and lost 94 cents to close at $4, Medical Disposables gained 2 cents and ended trading with 48,000 units at $3.52. Paramount Trading rose by 10 cents to end with 1,817 shares changing hands at $11.30, Sweet River ended with 1,388 units changing hands at $4 after rising 10 cents for a 52 weeks’ high and tTech closed with a gain of 30 cents at $4.90 with 21,300 shares trading.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: C2W Music, CAC 2000, Cargo Handlers, Caribbean Flavours, Caribbean Producers, Daily Trading, Derrimon Trading, Dolphin Cove, General Accident, Honey Bun, Jamaican Stock, Knutsford Express, Lasco, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Medical Disposables, Trading Activity, tTech

5 stocks gained on TTSE – Monday

February 15, 2016 by IC Insider.com

Scotia Investments continues with strong demand on TTSE

Trading activity ended with 11 stocks active securities on the Trinidad & Tobago Stock Exchange on Monday of which, 5 stocks rose 2 fell and 4 remained unchanged with 3 closing at 52 weeks’ highs and 1 at a low. A total of 47,215 shares valued at $1,154,944 traded.
The Composite Index gained 5.15 points to close at 1,162.29, the All T&T Index fell 0.06 points to close at 1,909.63 and the Cross Listed Index gained 1.41 points to close at 54.86.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator has turned negative with 4 stocks with bids higher than the last selling price and 10 stocks with offers that were lower.
At the close Scotia Investments that did not trade Monday had unsatisfied demand for 262,540 units at $1.70 with no stock on offer. Grace Kennedy had a bid at $4.55 to buy 35,798 shares with no stock on offer at the close, the stock last traded at $4.55, JMMB Group had 410,000 units on offer at 63 cents with the bid at 57 cents to buy 21,839 units.
Gains| Clico Investments traded 22,505 units valued at $509,710 to close with a gain of 9 cents at $22.65, FirstCaribbean International Bank traded 1,416 shares and closed at 52 weeks’ high of $5.51 with a 31 cents rise, Grace Kennedy traded just 102 shares to end at a 52 weeks’ high of $4.55 after gaining 5 cents.

Prestige Holdings with 191 units changing hands gained of 4 cents to end at a 52 weeks’ high of $10.51 and Republic Financial Holdings gained 1 cent to close at $112.05 with 1,105 shares changing hands.
Losses| National Flour traded 11,000 shares but lost 3 cents to end at $2.12 and Scotiabank lost 2 cents with 83 shares changing hands to end at $59.97 for a 52 weeks’ low.
Firm Trades| Calypso Macro Index Fund traded 1,000 units at $25, First Citizens Bank traded 2,813 units at $35, Massy Holdings traded 6,000 shares with a value of $357,000 to close at $59.50 and National Commercial Bank traded 1,000 shares to close at $2.40.

Filed Under: Stock Market, TTSE Market Tagged With: Clico Investment Fund, First Citizens, Firstcaribbean International Bank, Grace Kennedy, JMMB Group, National Commercial Bank, National Flour Mills, NCB, Republic Financial Holdings, Scotiabank, Trading Activity, TTSE

JSE make big gains in early trading

February 15, 2016 by IC Insider.com

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The Jamaica Stock Exchange got off to a very slow start with only 10 securities trading after an hour of the market’s opening. The slow start did not prevent Carreras from hitting a new 52 weeks’ high of $65, following impressive December quarter results showing a big increase in net profit. That information seems wrong as the company is reporting September 2014 quarterly figures as the December 2014 figures. Nevertheless the earnings in the December 2015 quarter is $1.83 per share which would put a full year’s earnings around $8.
After 75 minutes, trading picked up with 21 securities changing hands with Scotia Group trading up to $36 but later at $34.50, Honey Bun traded at a new high of $12.15 as 5,000 shares traded, Jamaican Teas traded 82,441 units at new highs up to $8 but settled at $7 after losing 80 cents, Lasco Financial traded 50,000 units at $3.60 compared to Friday’s $3 close, Lasco Manufacturing pulled back to $4.20 from $5 with 10,003 and Sweet River traded 1,388 at a high of $4. By 11 am a total of 25 securities traded amounting to 1,251,222 shares 10 recorded price gains and 8 fell.
The all Jamaica Composite Index jumped 3,232.56 points to 180,210.06, the JSE Market Index gained 2,892.52 points to 162,187.57, the JSE combined index climbed 2,449.61 points to 173,136.09 and the junior market index dropped 30.76 points to 2,237.10.

Filed Under: JSE Main Market, Stock Market

Lasco Manufacturing profit jumps

February 14, 2016 by IC Insider.com

Bottle heating machine at Lasco Manufacturing.

Profit at Lacso Manufacturing before tax jumped 79 percent to $764 million for the nine months ended December 2015, this compares with $426.3 million for the same period in 2014, while profit for the quarter increased 69 percent over the same period in 2014 to $267 million before provision of $35 million of corporate taxation.
The strong improvement flowed from 45 percent jump in revenue for the nine months from $4.83 billion, for an increase of $1.5 billion or over prior year’s $3.33 billion. Revenue for the quarter rose by a slightly slower 39 percent from $1.25 billion in 2014 to $1.74 billion in 2015. Gross profit for the nine months rose from $892 million in 2014 to $1.60 billion in 2015, an increase of $703 million or 79 percent in line with the increased profit. For the quarter, gross profit rose by $257 million or 89 percent from $290 million in 2014 to $548 million in 2015 but increased interest and depreciation cost associated with the new factory ate up proportionately more of the revenues than other cost.

One of Lasco’s new products

Operating expenses for the nine months to December 2015 rose by 82 percent or $313 million over prior year’s $383 million to hit $696 million, due to increases in staff compliment, marketing expenses and new products development costs. For the quarter to date, operating expenses were $220 million compared to $89 million in prior year.
Earnings per share for the nine months ended December 2015 rose from 10 cents for the same period prior year to 18 cents and should hit 29 cents for the full year and close to $1 in 2017. The stock which trades at $5 on the Jamaica Stock Exchange junior market, is selling above the market average, at PE of 17 times current fiscal year’s earnings. With new products now being produced, revenues and profit should continue to increase in the next fiscal year which would ensure that the current PE is not all that high but the stock make bounce around for a while until the next set of results are known.
The company generated gross cash flow from operations of $994 million versus $509 million in 2014 even as receivables rose to $2 billion inclusive of prepayment and deposit on equipment of nearly $600 million, compared with $897 million at the end of 2014 and $1.1 billion at the March year-end. Fixed assets net of depreciation swelled to $3.1 billion from $1.1 billion at March 2014 as capital work in progress fell from $2.26 billion to only $400 million. Cash funds grew to $372 million from just $50 million in 2014 but borrowings jumped to $2.15 billion including overdraft of $641 million from $1.38 billion at March 2014.

Filed Under: Buy Rated, Company News, Company Results Tagged With: Jamaica Stock Exchange, Lasco, Lasco Manufacturing

C&W first profit in 7 years

February 14, 2016 by IC Insider.com

Cable and Wireless reported a profit $144 million in the December quarter last year, the first time since they reported a profit of $32.6 million for the December quarter of 2008.
The 2015 quarterly profit was realised after accounting for an exceptional charge of $334 million for the quarter and is down sharply from a loss of $1.8 billion in 2014 that included an exceptional charge of $1.5 billion. For the nine months the loss was down to $644 million after an exceptional charge of $504 million compared with a huge $3 billion loss in 2014 after exceptional cost of $1.5 billion.
Revenues climbed in the quarter by 12 percent, to $6.1 billion on continued growth in mobile customers and data usage and for the nine months by 11 percent to $17.2 billion. Growth in revenues was helped by a 15 percent increase of 125,000 in new mobile customers, 22 per cent growth in mobile revenues and a more than doubling in mobile data income.
Operating expenses fell in the December quarter as wages declined by $420 million for the nine months period and fell by $122 million to $600 million in the quarter compared with the 2014 December quarter.
Advances from the parent company is up to $49 billion with interest cost being static at $1 billion but depreciation charge is down while amortization cost rose to $768 million from $489 million in 2014.
The results point to the company entering the 2017 fiscal year being the first full year in which the company should make a profit since 2007. The company’s stock last traded on the Jamaica Stock Exchange at $1.69 on Friday February 12, rising 29 cents in response to the results.

Filed Under: Buy Rated, Company News, Company Results Tagged With: C&WJ, Jamaica Stock Exchange

Only 8 stocks trade on TTSE Friday

February 12, 2016 by IC Insider.com

Sagicor Financial traded at a 52 weeks’ high on Friday

Trading activity fell back from the 18 stocks active stocks on the Trinidad & Tobago Stock Exchange on Thursday to just 8 on Friday with, 3 stocks rose 1 fell and 4 remained unchanged with 1 closing at 52 weeks’ highs. A total of 792,227 shares valued at $6,980,514 traded.
The Composite Index gained 0.21 points to close at 1,157.14, the All T&T Index fell 0.01 points to close at 1,909.69 and the Cross Listed Index gained 0.06 points to close at 53.45.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator has turned negative with 3 stocks with bids higher than the last selling price and 7 stocks with offers that were lower. At the close Scotia Investments with 128,711 shares changing hands on Thursday has seen a rise in unsatisfied demand of 171,540 shares on Thursday rising to 261,540 units on Friday at $1.70 with no stock on offer. Grace Kennedy had a bid at $4.52 to buy 45,522 shares with no stock on offer at the close, the stock last traded at $4.50.
Gains| Clico Investments traded 14,511 units valued at $327,359 to close with a gain of 4 cents at $22.56.

Republic Financial Holdings gained 1 cent to close at $112.04 with 6,487 shares changing hands at a value of $726,803 and Sagicor Financial Corporation had 677,286 shares valued at $4,470,088 changing hands with a rise of 8 cents, to close at a 52 weeks’ high of $6.60.
Losses| Guardian Holdings fell 1 cent with 4,920 shares changing hands to close at $14.29.
Firm Trades| JMMB Group traded 5,361 units at 57 cents, Massy Holdings traded 247 shares as the price to close at $59.50, National Commercial Bank traded 13,053 shares to close at $2.40 and Trinidad and Tobago NGL traded 70,362 units valued at $834,105 to close at $19.

Filed Under: Stock Market, TTSE Market Tagged With: clico, Clico Investment Fund, Grace Kennedy, Guardian Holdings, JMMB Group, Massy Holdings, National Commercial Bank, NCB, Republic Financial Holdings, Sagicor Financial Corporation, Scotia Investments, Trinidad and Tobago NGL

C&W, Pan Jam dominant plays – Friday

February 12, 2016 by IC Insider.com

C&W gained 21% in trading on Friday following release of Q3 results

Investors pushed Cable and Wireless by 29 cents to rise by 20.7 percent to close at $1.69 with 4,351,809 units trading in response to the profit of $144 million reported in the December quarter after accounting for an exceptional charge of $334 million. Pan Jamaican Investments was another big trade with the price gaining $1.50 to end at $96 after trading 2,045,279 shares valued at $196,346,784. The Jamaica Stock Exchange main market nevertheless lost ground with 38 securities changing hands in all market segments.
Trading resulted 38 securities trading, 16 of which gained and 14 declined. Six stocks closed at 52 weeks’ highs and 3 at intraday highs as 11,326,742 units valued at $259,795,288 changed hands in all markets. The junior market accounted for 2,619,072 units changed hands, valued at $10,651,233.
The JSE Market Index fell 412.90 points to 159,295.05 the all Jamaica Composite Index dropped 461.44 points to end at 176,977.50 and the JSE combined index declined 553.68 points to close at 170,686.48.

IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading was 17 stocks with bids higher than their last selling prices and 6 with lower offers.
At the end of the market activities, Barita Investments ended with 12,000 units traded, to close at $4.75, Berger Paints fell 8 cents to end at $5, with 14,021 units traded, Caribbean Cement rose 1 cent to close at $28 with 48,626 shares changing hands. Carreras gained 75 cents to end at a 52 weeks’ high of $63.50 with 15,180 units trading, Grace Kennedy closed at $84 with 10,283 units changing hands. Jamaica Broilers traded 406,083 units and gained $1.45 to $14.95, JMMB Group jumped $1.95 in trading 8,350 units to end at 52 weeks’ high of $13.70. Kingston Wharves rose 26 cents with 10,545 units changing hands at $11.45, Margaritaville Turks had 30,900 shares trading at a 52 weeks’ high of 15 US cents,

Mayberry Investments gained 30 cents to close at $5 with 130,126 units traded, National Commercial Bank traded 347,478 shares to close at $41.50. Pulse Investments traded 5,000 shares to end at a 52 weeks’ high of $4.65 after rising by 45 cents, Sagicor Group rose 5 cents and closed at $23.05 with 370,399 units changing hands. Sagicor Real Estate Fund gained 20 cents to close at $12 while trading 10,023 shares, Scotia Group had 231,306 shares changing hands with a loss of $2.50 to close at $31.50. Scotia Investments had 14,374 units changing hands at $29, Supreme Ventures lost 45 cents to close at $5.75, with 511,615 units changing hands, Proven Investments ordinary share traded at 22 US cents with 34,100 units and JMMB 7.50% preference share traded 89,573 units to close at $2.15.

Filed Under: JSE Main Market, Stock Market Tagged With: Berger Paints, Cable & Wireless, Caribbean Cement, Carreras, Daily Trading, Desnoes and Geddes’, Grace Kennedy, Jamaica Broilers, Jamaica Money Market Brokers, Jamaica Stock Exchange, Jamaican Stock, Kingston Wharves, Mayberry Investments, National Commercial Bank, Pan Jamaican, Proven Investments, Pulse Investments, Sagicor Group, Sagicor Real Estate Fund, Scotia Group, Supreme Ventures, Trading Activity

Decliners beat up advancers – Friday

February 12, 2016 by IC Insider.com

Honey Bun closed at a 52 weeks’ high on Friday.

The junior market encountered a moderate fall at the closed on Friday with 15 securities trading, 4 of which advanced, 7 declined. The market ended with index having slipped 18.19 points to end at 2,267.86 as 2 stocks closed at a new 52 weeks’ as 2,619,072 units changed hands, valued at $10,651,233.
At the close, 2 securities ended with no bid to buy and 7 securities had no stocks being offered for sale but there are strong signs of the possibility of a big move forward, as 9 stocks closed with bids that were higher than their last selling prices and none ended with a lower offer. Including in the list of stocks with higher bids are Access with a bid at $18.05 to buy just 140 units, a bid for 2,650 units at $18, at $17.60 buying interest for 16,500 units, a bid at $17.55 to buy 5,800 units and 33,700 units with a bid of $17.50, all above the last trade at $16.80. There are two offers with one at $24 to sell 15,150 units and one at $27 for 5,000 units. Cargo Handlers has six bids between $40 and $40.21 to buy just under 10,000 units, the last sale was at $39 and there are no stocks offered for sale.
In trading, AMG Packaging lost 50 cents while 4,186 units changed hands, to end at $20, CAC 2000 had 2,290 shares changing hands to close at $7 with, C2W traded 116,777 shares but lost 2 cents to end at 47 cents. Caribbean Cream lost 50 cents in trading 532,315 shares to close at $4.15 but traded as high as $.70, Caribbean Flavours ended with 5,980 units changing hands at $8.50, Caribbean Producers traded 99,351 units to close at $5.50, after declining by 45 cents. Consolidated Bakeries traded 55,000 units to close with a rise of 12 cents at $1.75, Dolphin Cove ended with 400 shares trading at $15.72,

Honey Bun rose 28 cents as 20,000 units changed hands to end at a 52 weeks’ high of $12.08. Jamaican Teas rose 30 cents while trading 34,808 shares, to close at a 52 weeks’ high of $7.80, KLE Group ended at $2.75 with 23,471 units trading, Lasco Distributors closed with 92,821 units trading, but fell 34 cents to end at $7.50, Lasco Financial dropped 5 cents to $3 with 1,198,671 shares changing hands. Lasco Manufacturing ended trading with 349,779 shares and lost 5 cents to close at $4.94, Medical Disposables ended trading 100,000 units at $3.50 and tTech closed with a loss of 10 cents at $4.60 with 100,000 shares trading.

Filed Under: JSE Junior Market, Stock Market Tagged With: C2W Music, CAC 2000, Cargo Handlers, Caribbean Flavours, Caribbean Producers, Daily Trading, Dolphin Cove, Honey Bun, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Medical Disposables, Trading Activity, tTech

JSE make gains in early JSE trading

February 12, 2016 by IC Insider.com

The Jamaica Stock Exchange got off to a positive start helped by a 20 cents jump in the price of Cable & Wireless to $1.60 with 3.7 million units changing hands after reporting a small profit in the December quarter of $144 million after exceptional charge of $334 million on rising revenues. A total of 28 securities traded up to 10.45am amounting to 4,944,412 shares.
After 75 minutes of trading JMMB Group jumped $2.25 to $14 for a new 52 weeks’ high with only 7,000 shares changing hands, Lasco Financial recovered 55 cents of the 96 cents loss it suffered on Thursday to now traded at $3.60 with 120,309 units traded, Honey Bun traded at a new high of $12.08 as 20,000 shares traded.
The all Jamaica Composite Index rose 651.58 points to 178,090.52, the JSE Market Index gained 583.04 points to 160,299.99, the JSE combined index climbed 636.39 points to 171,876.55 and the junior market index rose 9.59 points to 2,295.64.