The junior market recorded gains in the morning session on Monday in the two local markets driving the indices to new highs.
A total of 25 securities traded as 9 stocks rose and 7 declined with 7,596,989 units changing hands.
At 11 am, the all Jamaica Composite Index gained 258.15 points to 163,074.80, the JSE Market Index gained by 231 points to 146,854.79, the JSE combined index gained 360.70 points to 153,703.96 and the junior market index is up 15.98 points to 1,685.54.
Interesting trades include 138 Student Living with 6,520,000 shares trading at $4.50 and Lasco Financial trading 458,240 shares at $3.50.
JSE makes gains in early trading
December 21, 2015 by
5 TTSE stocks fell 2 rose – Friday
December 18, 2015 by
T&TNGL continues to enjoy good investors’ interest
Activity ended with 555,348 shares changing hands valued at $13,207,906 as there continues to be investors’ interest in the recently listed Trinidad and Tobago NGL. One stock closed at 52 weeks’ low. At the close, the Composite Index ended with a fall of 0.30 points to 1,158.76, the All T&T Index rose 0.03 points to 1,949.46 and the Cross Listed Index slipped 0.09 points to 48.41.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 3 stocks with bids higher than the last selling price and 7 stocks with offers that were lower.
Gains| Guardian Holdings gained 10 cents with 1,744 shares traded to end at $13.20 and West Indian Tobacco rose 25 cents and closed at $126.25 with 3,424 shares changing hands.
Declines| Republic Financial Holdings, the holding company of the Republic Bank, lost 6 cents while 10,000 shares changed hands at $111.89, Sagicor Financial traded 12,465 shares but lost 10 cents, to end at $6.05.
Scotiabank traded 24,654 units valued at $1,528,061 but lost 1 cent to end at $61.98, Trinidad and Tobago NGL fell 10 cents with 461,308 units valued at $9,687,468, changing hands at $21 and Trinidad Cement fell 6 cents with 9,466 units changing hands at $4.14.
Firm Trades| Clico Investments traded 11,430 units to close at $22.75, National Flour Mills traded 1,000 units to end at $2.70 and National Commercial Bank ended with 19,857 units changing hands at $2.05.
US$13m net FX inflows for week
December 18, 2015 by
Jamaica enjoyed a week of strong net inflows on the FX front
Dealers bought the equivalent of US$48,985,627 and sold US$38,223,472, compared with US$42,340,656 and US$36,886,077 respectively on Thursday.
Purchase of US dollars , exceeded the amount sold by dealers by US$8.5 million with dealers buying US$45,286,649 compared to US$38,568,833 on Thursday. The buying rate for the US dollar rose 5 cents to $119.89. A total of US$36,755,007 was sold versus US$33,479,725 on Thursday, the selling rate moved up by 5 cents to $120.37. < The Canadian dollar buying rate dropped $1.70 to end at $83.37 with dealers buying C$1,240,010 and selling C$967,704, at an average rate that lost $1.14 to $85.29. a href=”http://icinsider.com/wp-content/uploads/2015/12/FX-trade-sum-18-12-15.png”>
The rate for buying the British Pound climbed $2.88 to $178.42 for the purchase of £1,607,390, while £395,048 was sold, with the rate falling 51 cents to $177.13. At the end of trading, it took J$130.36 to purchase the Euro, for a fall of $1.37 from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$127.89 for a decline of $1.13 from Thursday’s rate. The US dollar equivalent of other currencies traded, amounts to US$444,482 being bought, while US$201,416 was sold.Highs & Lows| The highest buying rate for the US dollar, fell 43 cents to $120.12, the lowest buying rate dropped 29 cents to $98.57, the highest selling rate slipped 38 cents to $126.31 and lowest selling rate was down 21 cents to $98.57.
The highest buying rate for the Canadian dollar climbed $2.23 cents to $89.75, the lowest buying rate jumped $2.57 to $71.88, the highest selling rate dipped 29 cents to $92.66 and the lowest selling rate climbed $4 to $86. The highest buying rate for the British Pound, rose 93 cents to end at $182. The lowest buying rate gained $2.07 to $145.83, while the highest selling rate fell $1.87 to end at $185.63 and the lowest selling rate rose by $3 to $176.
Honey Bun trades 55m shares
December 18, 2015 by
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The junior market missed out on a new record close on Friday with the index ending just 7.12 points shy of the record 1,676.68 points reached on November 18 this year. The market saw another big trade as Honey Bun traded more than 55 million shares, representing more than 58.5 percent of the of 94 million issued shares.
Mayberry Investments as brokers, executed the transactions with two blocks of 25,681,800 units and 1,894,000 each for a total value of $295 million. Michelle Chong and Herbert Chong the two largest shareholders controlled 37.5 million shares each in the company. The trades represent about 73.5 percent of their holdings. It is unclear at this time if the principals have sold out the majority to a new owner. On Thursday Derrimon Trading Company traded 40,051,505 shares valued at $155 million.
The junior market closed on Friday with only 7 securities trading of with 3 advanced and 2 declined. The junior market index gained 32.61 points to 1,669.56 with 55,544,624 units, valued at $296,776,261 changing hands.
At the close there was 1 security ending with no bid to buy and 7 securities had no stocks being offered for sale. A total of 2 stocks closed with bids higher than their last traded prices while one closed with a lower offer.
In trading, Access Financial Services closed with a gain of $1.88 at $16 with 2,000 units changing hands, Caribbean Producers closed at $4.50 to gain 25 cents with only 121,600 units changing hands. Derrimon Trading ended with 16,354 shares changing hands at $3.80, Honey Bun traded finished with 55,216,600 shares changing hands at $5.50, for a loss of 25 cents, Lasco Distributors closed with 54,013 shares changing hands at $4.50 after rising by 15 cents, Lasco Financial gained 33 cents to closed at $3,33, with 5,223 shares changing hands, Lasco Manufacturing lost 1 cent and closed at $3.30, with 128,834 shares trading.
Record Friday for JSE stocks
December 18, 2015 by
138 Student Living led the majors with 59m shares on Friday.
The junior market accounted for 55,544,624 units, valued at $296,776,261 as 13 stocks in the combined markets gained, 6 declined, 4 stocks closed at 52 weeks’ high.
138 Student Living had the largest trade in the main market with 58,949,590 units valued at $265,273,155 to close 10 cents up at a 52 weeks’ high of $4.50 while Honey Bun traded 55.2 million units valued at $295,438,307 in the junior market.
At the close the JSE Market Index climbed 2,213.58 points to 146,623.79, the all Jamaica Composite Index rose 2,473.80 points to end at 162,816.65 and the JSE combined index added 2,381.16 points to close at 153,343.26. The main market continues to face a test at the 165,000 points resistance level, on the all Jamaica composite index, but based on the churning of price movements in recent weeks, it is likely to take some more trading days to break through that level if the break takes place.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 8 stocks with bids higher than their last selling prices and 5 with lower offers.In trading, Berger Paints ended with 19,344 units trading at $3.15, Cable and Wireless lost 10 cents with 266,406 units changing hands to close at $1.30, at the close, there were over 1.84 million units on the offer at $1.40 with bids not looking particularly strong at $1.30 and below. Caribbean Cement closed with a rise of 20 cents to end at $18.20, with 19,955 shares changing hands, Carreras gained 99 cents in closing at $60 with 18,184 units trading, Ciboney traded at 27 cents with 54,500 units changing hands, Grace Kennedy gained 50 cents, with 77,778 units changing hands, to finish at a 52 weeks’ closing high of $80. Jamaica Broilers price fell $1.86 to $8.64, with 32,234 shares changing hands, the stock was offered for sale at $9.90 at the close, Jamaica Producers traded 13,000 shares at $31.90,
The Jamaica Stock Exchange share traded 5,000 units to close at $18.95, Kingston Wharves saw trading in 10,000 shares at $11.35 as the price slipped 5 cents. National Commercial Bank rose 30 cents and ended at $39 with 22,500 units changing hands, Pan Jamaican Investment had 20,000 units changing hands at $92.50, having risen 39 cents, Sagicor Group closed with 50,628 units changing hands but the price gained 69 cents to end at $17.50 for a new 52 weeks’ closing high. Scotia Group gained $1.99 with 73,780 shares changing hands at a 52 weeks’ closing high of $30.99 and Supreme Ventures fell 50 cents to end at $4, with 2,300,000 units changing hands.
Honey Bun trades 58% of shares
December 18, 2015 by
Honey Bun had trading in 55 million shares a short while ago representing more than 58.5 percent of the shareholdings of 94,253,390 shares.
Mayberry Investments as brokers executed the transactions with two blocks of 25,681,800 units and 1,894,000 each for a total value of $295 million.
Michelle Chong and Herbert Chong the two largest shareholders controlled 37.5 million shares each in the company. The trades represent about 73.5 percent of their holdings. It is unclear at this time if the principals have sold out the majority to a new owner.
Today’s trade follows a 40 million trade or 14.53 percent of Derrimon Trading’s shares purchased on Thursday by a large shareholder.
Treasury bill rates drop
December 18, 2015 by
Rates of Government of Jamaica Treasury bills fell on the 91 day and 192 days instruments the government have been auctioning for some time, but rose slightly on the 28 days tenner as the amount applied for was well below the amount of $400 million offered.
182 days T-bill rates are down more than 50% since March 2014
Treasury bill rates have declined by 50.78 percent since peaking in March 2014 for the 182 day instrument based on the average rate on the latest offering. At the December auction, the average rate on the 91 days bills fell 18.8 basis points compared to the November rate. The 182 days instrument enjoyed only a 0.5 basis point fall and the 28 day instrument rose by 5.5 basis points.
A total of only $347,996,800 chased the $400 million on offer for the 28 days bills, $717 million went after the $400 million on offer for the 90 days instruments and $557 million went after the $400 million offered for 182 days.
tTech allocation by Monday
December 18, 2015 by
The allocation formula for the recent Initial public offering of tTech shares which closed shortly after opening on Wednesday with more than 300 percent over subscription, should be known by Monday coming.
The likely date was obtained by IC Insider today from a spokesperson at NCB Capital Markets. The recommended formula has been passed on to the company for the approval the spoke person stated. tTech offered more than 25.65 million shares for purchase up to $2.50 each and was well received by investors raising over $50 million that they went to the market.
The spokesperson also indicated that they will be looking into the matter of investor being asked to pay the central depository fee, although it was not included in the prospectus.
Juniors jump, new record for majors
December 18, 2015 by
The junior market is enjoying major gain on Friday morning with a 2 percent or 34 point jump to sit just below the record reached in November of 1,676.68 points.
The main market of the Jamaica Stock Exchange also recorded gains in early trading pushing the indices to new record high. A total of 17 securities traded as 9 stocks rose and just 3 declined with 2,512,805 units changing hands.
At 10:45 am, the all Jamaica Composite Index gained 334.81 points to 160,677.66, the JSE Market Index gained by 299.59 points to 144,709.80, the JSE combined index gained 586.44 points to 151,548.54 and the junior market index is up 34 points to 1,670.95.
Interesting trades, with 75 minutes having elapsed are, Supreme Ventures traded 2,200,000 shares at $4.58 for an 8 cents gain, Grace Kennedy traded at a new 52 weeks’ high of $80 and so has Sagicor Group at $17.50, Jamaica Broilers dropped $1.90 to be at $8.60 and National Commercial Bank had gained $1.20 to $39.90.
Feedback from NCB Capital Markets is the tTech allocation should be known for the recently closed IPO by Monday coming.
Good FX inflows continue on Thursday
December 17, 2015 by
Flows into the Jamaican foreign exchange market remains elevated as dealers bought the equivalent of US$42,340,656 and sold US$36,886,077, compared with US$40,443,682 and US$38,941,809 respectively on Wednesday.
Purchase of US dollars , was above the amount sold by dealers by US$5 million with dealers buying US$38,568,833 compared to US$36,794,485 on Wednesday. The buying rate for the US dollar rose 15 cents to $119.84. A total of US$33,479,725 was sold versus US$37,917,698 on Wednesday, the selling rate moved down by 6 cents to $120.32. 
The Canadian dollar buying rate rose 87 cents to end at $85.07 with dealers buying C$2,789,000 and selling C$2,484,741, at an average rate that gained 62 cents to $86.43. The rate for buying the British Pound fell $3.17 to $175.54 for the purchase of £1,103,035, while £492,870 was sold, with the rate falling 92 cents to $177.64. At the end of trading, it took J$131.73 to purchase the Euro, up by 31 cents from Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.01 for a rise of 27 cents from Wednesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$176,212 being bought, while US$893,905 was sold.
Highs & Lows| The highest buying rate for the US dollar, was unchanged at $120.55, the lowest buying rate rose 8 cents to $98.86, 
the highest selling rate rose 6 cents to $126.69 and lowest selling rate was unchanged at $98.78. The highest buying rate for the Canadian dollar climbed 32 cents to $87.52, the lowest buying rate dipped 66 cents to $69.31, the highest selling rate jumped $2.75 to $92.95 and the lowest selling rate slipped $1 to $82. The highest buying rate for the British Pound, declined by 53 cents to end at $181.07. The lowest buying rate declined $2.32 to $143.76, while the highest selling rate rose $1.82 to end at $187.50 and the lowest selling rate dropped $1 to $173.
