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JSE had a sharp 4,000 point fall on Tuesday

January 19, 2016 by IC Insider.com

Scotia Group played a big part in the fall of the market on Tuesday

Trading levels on the Jamaica Stock Exchange continues to be buoyant with 45 securities changing hands on Tuesday in all market segments but with reduced value compared with recent past trading days. At the close 19 securities in the combined markets gained and 12 declined.
Six stocks closed at 52 weeks’ highs as 6,138,490 units valued at $58,183,086 changed hands in all markets, with the junior market accounting for 1,840,258 units changed hands, valued at $6,617,973.
The JSE Market Index dived 4,233.89 points to 155,745.69, the all Jamaica Composite Index is down with a fall of 4,731.62 points to end at 173,010.89 and the JSE combined index dipped by 3,935.84 points to close at 167,170.08.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reached an elevated level indicating several rising prices ahead with reading of 14 stocks with bids higher than their last selling prices and only 4 with lower offers.

In trading, Barita Investments traded 6,000 shares and gained 10 cents to close at $4.60, for a 52 weeks’ high, Berger Paints closed at $3.70 as the price rose 40 cents with 9,000 units trading, Cable and Wireless ended with 883,544 units changing hands to close with a gain of 7 cents at $1.50, Caribbean Cement traded with a fall of $2.97 and closed at $21.52 with 31,378 shares changing hands. Carreras gained 94 cents in trading 33,262 shares at $60.99, Ciboney traded 1,724,839 units to end at 24 cents, Desnoes & Geddes lost 40 cents to close at $28.60 with 186,241 shares, Grace Kennedy rose $2.29 and closed at $82.50, with 144,996 units changing hands. Jamaica Broilers closed at $12 with 110,225 shares changing hands to record a gain of 25 cents. Jamaica Producers had 27,828 shares trading as the price rose by 13 cents to $33.13, Jamaica Stock Exchange fell 80 cents to close at $19.20 while trading 29,810 shares, JMMB Group traded 237,056 units to end with a gain of 33 cents at $11.83, Kingston Wharves rose 4 cents in trading 3,665 units to close at $11.05,

Margaritaville Turks traded 120,594 shares at 11 US cents by rising 0.50 cents. Mayberry Investments traded 94,603 shares and gained 10 cents to end at $4.85. National Commercial Bank ended with a fall of 10 cents at $41, with 165,801 units changing hands. Pan Jamaican Investments fell 1 cent to close at $94 with 144,908 shares trading, Sagicor Group declined by 97 cents to close at $22 with 82,272 units changing hands. Sagicor Real Estate Fund gained 50 cents to close at $11.60 with 30,245 shares traded, Scotia Group fell 20 cents with 88,079 shares changing hands to close at $30.40, Supreme Ventures gained 13 cents to end at $5.25 with 56,950 units changing hands at a new 52 weeks’ closing high and Proven Investments ordinary share traded 44,410 units at 22.99 US cents, up from 21 US cents on Tuesday.

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

Juniors rise slightly on Tuesday

January 19, 2016 by IC Insider.com

A high percentage of the stocks listed on the junior market were active on Tuesday with 18 trading, 6 of which advanced, 4 declined, the market index was up a miniscule 6.24 points to end at 2,249.07. A total of 6 stocks closed at a new 52 weeks’ highs.
The volume of 1,840,258 units changed hands, valued at $6,617,973 with indicators showing potential for a resumption of upward price movements with the supply of stocks being reduced as indicated by the increased number of stocks without offers. At the close, 1 security ended with no bid to buy and 9 securities had no stocks being offered for sale. A total of 4 stocks closed with bids higher than their last traded prices while 2 closed with lower offers.
In trading, AMG Packaging price rose 20 cents to a new high of $11.40 with 32,190 shares changing hands, C2W Music ended at 49 cents while 27,516 units changed hands, Caribbean Cream ended with 4,000 shares changing hands at $4.94, Caribbean Flavours traded 11,353 units to close with a loss of 10 cents to end at $8.90. Caribbean Producers had 13,361 units changing hands but rose 20 cents to close at $5.50 Consolidated Bakeries closed at $1.40 with 273,000 units trading. Derrimon Trading closed at $4.15 with 33,167 shares traded, Dolphin Cove traded at $15.60 as 1,000 shares changed hands, General Accident fell 24 cents while trading 573,067 shares to close at $2.19. Honey Bun closed at $7.60 as 104,424 shares changed hands, Jamaican Teas lost 5 cents with 400 shares trading to close at a $5.20, KLE Group ended at $2 with 127,714 shares changing hands. Lasco Distributors closed with 105,295 units trading and ended unchanged at $8, Lasco Financial lost 20 cents to close at $4 with 196,579 shares changing hands. Lasco Manufacturing traded 245,720 shares and gained 5 cents to close at $5, Medical Disposables had 30,574 shares changing hands with a rise of 55 cents to close at $3.55, Paramount Trading ended at a 52 weeks’ high by rising 5 cent to close at $10.55, but only 135 shares traded and tTech closed with a gain of 10 cents at $4.90 with 60,583 units changing hands.

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

Negatives remain as TTSE slips lower

January 19, 2016 by IC Insider.com

Activity on the Trinidad and Tobago Stock Exchange continued with moderate with trading in 9 securities on Tuesday. The market closed with no stock gaining 3 declined with the prices of 6 remaining unchanged. A total of 52,161 shares changed hands valued at $1,671,277.
The Composite Index ended with a fall of 0.85 points to 1,163.80 the All T&T Index lost 1.69 points to 1,939.08 and the Cross Listed Index remained at 51.22.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator has turned negative with only 2 stocks with bids higher than the last selling price and 9 stocks with offers that were lower.
Losses| Ansa McAl closed at a 52 weeks’ low with 95 shares traded and lost 38 cents to end at $66.25, National Flour Mills traded 14,108 units and lost 1 cents to end at $2.49 and Trinidad Cement closed with 173 shares changing hands with a loss of 4 cents to end at $3.89.
Firm Trades| Ansa Merchant Bank traded 385 shares at $38.96, Clico Investment Fund traded 15,000 shares to close at $22.75, Grace Kennedy traded 1,680 shares at $4.06, National Commercial Bank closed at $2.30 while trading 10,000 shares. Point Lisas had 400 units changing hands at $3.93, Republic Financial Holdings closed at $112 as 11,090 shares changed hands and Sagicor Financial Corporation ended with 1,000 shares changing hands at $6.50.

Filed Under: Stock Market, TTSE Market Tagged With: Ansa Mcal, Ansa Merchant Bank, clico, Clico Investment Fund, Daily Trading, Grace Kennedy, Guardian Media, National Commercial Bank, National Flour Mills, NCB, Point Lisas, Republic Financial Holdings, Sagicor Financial Corporation, Trinidad Cement, TTSE

Scotia help push down JSE 3,000 points

January 19, 2016 by IC Insider.com

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The seesaw movement in the price of Scotia Group continued in the morning session with the stock trading at $30.30 compared with yesterday’s close on which the indices is computed, helping to push the main stock market indices down between 2,894 to just under 3,481.54 points..
After 75 minutes of trading, the all Jamaica Composite Index dropped 3,481.54 points to 174,260.97 the JSE Market Index declined 3,115.31 points to 156,864.27 the JSE combined index fell 2,893.83 points to 170,963.97 and the junior market index rose 4.84 points to 2,247.67. In trading, 31 securities were active and accounted for 3,595,430 units changed hands with 13 stocks rising and 12 falling.

Filed Under: JSE Main Market, Stock Market

Inflows of FX below norm on Monday

January 18, 2016 by IC Insider.com

Trading in the Jamaican foreign exchange market on Monday was well below the levels expected for the first day of a week in the winter months. Dealers bought the equivalent of just US$27,603,340 and sold US$28,177,563, compared with US$58,820,996 purchased and US$48,672,598 sold on Friday.
In US dollars trading, dealers bought US$23,407,422 compared to US$55,716,976 on Friday with the buying rate for the US dollar falling 68 cents to $119.63. A total of US$26,363,858 was sold versus US$45,573,684 on Friday as the selling rate climbed by just 2 cents to $120.80. The Canadian dollar buying rate rose 28 cents to end at $80.79 with dealers buying C$2,421,519 and selling C$980,032, at an average rate that declined by $1.50 to $82.16. The rate for buying the British Pound dropped $3.03 to $169.10 for the purchase of £1,645,063, while £689,638 was sold, with the rate falling 22 cents to $171.32. At the end of trading, it took J$132.28 to purchase the Euro, for a jump of $1.37 on Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.79 for a rise of $1.53 on Friday’s rate. The US dollar equivalent of other currencies traded, amounts to US$235,202 being bought, while US$169,063 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the currencies traded at are, a fall of $2.30 in the highest selling rate of the Canadian dollar to $86.20 and the lowest selling rate falling by $1.55 to $78.15, the British Pound, dropping $3.10 of the highest buying rate to $173.45 and an increase of $1.34 in the highest selling rate to $178.90.

Filed Under: FX Market, Stock Market Tagged With: BOJ, British Pound, Caribbean Cement, Daily Trading, euro, FX Market, J$ vs euro, Jamaica dollar, Trading Activity, US Dollar

JSE had a sharp jump on Monday

January 18, 2016 by IC Insider.com

Scotia Group once more pushed up the JSE indices with big gains on Monday.

Trading levels on the Jamaica Stock Exchange continues to be buoyant with 43 securities changing hands on Monday in all market segments but with reduced value compared with recent past trading days. At the close 23 securities in the combined markets gained and 15 declined.
Seven stocks closed at 52 weeks’ highs and 1 at intraday highs as 3,242,483 units valued at $29,602,537 changed hands in all markets, with the junior market accounting for 1,767,220 units changed hands, valued at $8,897,090.
The main market indices climbed sharply again as Scotia Group shot up to $34.99 in early trading, to help push up the indices by the big moves, but the indices could fall back on Tuesday The JSE Market Index climbed 3,705.74 points to 159,979.58, the all Jamaica Composite Index is down with a jump of 4,141.39 points to end at 177,742.51 and the JSE combined index surged by 3,281.87 points to close at 171,105.92.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reached an elevated level indicating several rising prices ahead with reading of 12 stocks with bids higher than their last selling prices and only 3 with lower offers.
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In trading, Barita Investments traded 12,000 shares and gained 10 cents to close at $4.50, for a 52 weeks’ high, Berger Paints closed at $3.30 as the price fell 45 cents with 27,730 units trading, Cable and Wireless ended with 166,850 units changing hands to close with a loss of 2 cent to $1.43. Caribbean Cement traded with an increase of 49 cents and closed at $24.49 with 26,583 shares trading. Ciboney traded 104,035 units with a fall 1 cent to end at 24 cents, Gleaner Company traded 4,573 shares and lost 2 cents to close at $2.68, Grace Kennedy closed at $80.21, with 5,653 units changing hands. Jamaica Broilers rose 25 cents to close at $11.75 with 34,714 shares changing hands. Jamaica Producers had 39,294 shares trading as the price rose by 70 cents to $33, Jamaica Stock Exchange closed at $20 while trading 26,333 shares, JMMB Group traded 287,100 units to end with a loss of 27 cents at $11.50. Kingston Properties traded 20,000 units and lost 24 cents to close at $6.80, Kingston Wharves lost 14 cents in trading 52,797 units to close at $11.01, Mayberry

Investments traded 101,452 shares and gained 5 cents to end at $4.75, National Commercial Bank ended with a rise of 59 cents at $41.10, with 51,157 units changing hands. Pan Jamaican Investments fell 5 cents to close at $94.01 with 15,238 shares trading. Radio Jamaica lost 50 cents in trading 11,303 shares to close at $5.50. Sagicor Group rose 17 cents to close at $22.97 with 16,782 units changing hands. Scotia Group rose 51 cents with 291,386 shares changing hands to close at $30.60 after trading earlier at $34.99, Supreme Ventures gained 42 cents to end at $5.12 with 171,360 units changing hands at a new 52 weeks’ closing high and Proven Investments ordinary share traded 32,550 units at 21 US cents, down from 22 US cents on Friday.

Filed Under: JSE Main Market, Stock Market Tagged With: Berger Paints, Cable & Wireless, Caribbean Cement, Ciboney, Desnoes and Geddes’, Gleaner, Grace Kennedy, Jamaica Broilers, Jamaica Money Market Brokers, Jamaica Stock Exchange, Kingston Wharves, Mayberry Investments, National Commercial Bank, Proven Investments, Sagicor Group, Scotia Group, Supreme Ventures

Juniors fall as 11 stocks rose 6 fell

January 18, 2016 by IC Insider.com

Honey Bun closed at a new 52 weeks’ high on Monday

A high percentage of the stocks listed on the junior market were active on Monday with 19 trading, 11 of which advanced, 6 declined but the market index was down a moderate 23.51 points to end at 2,242.83. A total of 6 stocks closed at a new 52 weeks’ highs.
The volume of 1,767,220 units changed hands, valued at $8,897,090 with indicators showing potential for a resumption of upward price movements with the supply of stocks being reduced as indicated by the increased number of stocks without offers. At the close, 1 security ended with no bid to buy and 9 securities had no stocks being offered for sale. A total of 3 stocks closed with bids higher than their last traded prices while 2 closed with lower offers.
In trading, Access Financial traded 10,000 shares and gained 10 cent6s to end at $16.60, AMG Packaging price rose 15 cents to a new high of $11.20 with only 1,434 shares changing hands, CAC 2000 gained 3 cents to end at a 52 weeks’ high of $6.53 with 10,300 shares changing hands. C2W Music ended at 49 cents while 25,000 units changed hands, Caribbean Cream ended with a loss of 1 cent as 76,999 shares changed hands at $4.94, Caribbean Producers had 110,247 units changing hands but rose 10 cents to close at $5.30, Consolidated Bakeries gained 4 cents to $1.40 with 31,096 units trading. Derrimon Trading closed at a 52 weeks’ high of $4.15 after rising 10 cents with 1,000 shares, Dolphin Cove traded with a gain of 5

cents to end at $15.60 as 9,148 shares, General Accident rose 24 cents while trading 245,379 shares to close at 52 weeks’ high of $2.43. Honey Bun rose 42 cents to a new 52 weeks’ high of $7.60 as 85,000 shares changed hands, Jamaican Teas rose 25 cents with 8,848 shares trading to close at a $5.25, KLE Group ended at $2 with 23,500 shares changing hands, Lasco Distributors closed with 366,363 units trading and ended with a loss of 9 cents at $8. Lasco Financial lost 50 cents to close at $4.20 with 176,544 shares changing hands, Lasco Manufacturing traded 353,515 shares but fell by 5 cents to close at $4.95, Medical Disposables had 211,500 shares changing hands at $3 after dropping 30 cents and tTech closed with a loss of 15 cents at $4.80 with 20,388 units changing hands.

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

Negatives remain as TTSE slips slightly

January 18, 2016 by IC Insider.com

Activity on the Trinidad and Tobago Stock Exchange continued with moderate with trading in 10 securities on Monday. The market closed with no stock gaining 2 declined with the prices of 8 remaining unchanged. A total of 102,868 shares changed hands valued at $1,065,715.
The Composite Index ended with a fall of 017 points to 1,164.65 the All T&T Index lost 0.34 points to 1,940.77 and the Cross Listed Index remained at 51.22.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator has turned negative with only 3 stocks with bids higher than the last selling price and 9 stocks with offers that were lower.
Losses| Angostura Holdings closed at a 52 weeks’ low with 20,976 shares traded for a value of $285,668 and lost 3 cents to end at $13.61 and Scotiabank closed with 300 shares changing hands with a loss of 7 cents to end at $61.78.
Firm Trades| Clico Investment Fund traded 500 shares to close at $22.75, Grace Kennedy traded 1,680 shares at $4.06, JMMB Group traded 984 units at 55 cents. National Commercial Bank closed at $2.30 while trading 11,000 shares. National Flour Mills traded 2,000 units at $2.50, One Caribbean Media had 14,894 units changing hands at $22, Republic Financial Holdings closed at $112 as 534 shares changed hands and Sagicor Financial Corporation ended with 50,000 shares changing hands at $6.50.

Filed Under: Stock Market, TTSE Market Tagged With: Angostura Holdings, Clico Investment Fund, Daily Trading, Grace Kennedy, JMMB Group, National Commercial Bank, National Flour Mills, NCB, One Caribbean Media, Republic Financial Holdings, Sagicor Financial Corporation, Scotiabank, Trading Activity, TTSE

Scotia pushes JSE to 4,000 points gain

January 18, 2016 by IC Insider.com

The continued seesaw movement in the price of Scotia Group continued in the morning session with the stock trading at $34.99, helping to push the main stock market indices up between 3,100 to just under 4,000 points. Scotia closed trading on Friday with the last trade ended at $30.09.
Supreme Ventures also rose with a gain of 35 cents to trade at $5.05, in the junior market Honey Bun traded at a new high of $7.60 with 56,000 units but, Lasco Financial fell back by 46 cents to $4.06 with 109,645 shares.
After 75 minutes of trading, the all Jamaica Composite Index jumped by 3,996.70 points to 177,597.82 the JSE Market Index climbed 3,576.27 points to 159,850.11 the JSE combined index gained 3,139.92 points to 170,963.97 and the junior market index fell 25.71 points to 2,240.63
In trading 31 securities were active and accounted for 1,469,912 units that changed hands with 16 stocks rising and 9 falling.

Filed Under: JSE Main Market, Stock Market Tagged With: Daily Trading, Lasco, Lasco Financial, Scotia Group, Supreme Ventures, Trading Activity

Margaritaville Turks profit up 86%

January 18, 2016 by IC Insider.com

The Turks and Caicos based Margaritaville Turks, a Jamaica Stock Exchange US dollar market listed company, reported a big 86 percent jump in profits of US$518,134 in the six months to November last year versus $278,508 in the prior year.
The improved profit came from revenues that climbed 11 percent to $3.376 million. For the quarter ending November, the company reported improved results with net profit of $247,253, a whopping increase of 728 percent over the profit of $33,611 for the same quarter in 2014. Sales revenue for the quarter rose a very strong 24.7 percent to $1.65 million, compared to $1.32 million in 2014. Gross profit grew by 25 percent, slightly faster than sales revenue and for the six months by 10.7 percent.
Administrative expenses rose by 5.3 percent to hit $1.68 million for the six months and for the quarter to November to $829,364 for an increase of 8.7 percent. Management fees fell from $212,614 in 204 for the six months to $125,000 and for the quarter from $92,628 to $62,500. Depreciation charge was essentially flat at $123,748 for the six months and $62,444 for the quarter.
The company generated earnings per share of 0.77 US cents to November and 0.37 US cents for the quarter. IC Insider expects earnings for the full year to May to be around 2 US cents per share. This puts the PE of the stock at a low 5 times current year’s earnings.
Cash flows from operating activities amounted to $642,173 for six months versus $399,202 in 2014 before increase in related party receivables of $1.24 million and $685,495 in 2014 and ended with cash of $24,977. The equity capital stood at of $4.3 million and the company had no borrowed funds.