In early trading on the Jamaica Stock Exchange, the junior market had a healthy gain in the index, lack of supply, could give a bid lift to prices in the upcoming sessions. After more than an hours trading, 11 junior market securities or 40 percent of listings, had no stock on offer, an indication that buyers in these stocks may need to move their buying prices higher to get the stocks they want.
Interesting trades, with 75 minutes having elapsed, are Cable & Wireless trading 501,500 units and last traded at $1.55 for a 3 cents gain from Friday’s last traded price, Ciboney Group with 28,200 units at a 52 weeks’ high of 19 cents, with a bid to buy 45,830 units at 21 cents, National Commercial Bank with a fall to $35.75 with 28,750 units, Caribbean Flavours at a new high of $6.75 with 16,512 shares trading and General Accident Insurance with 500,000 shares changing hands at $1.97.
At 10.45am, the all Jamaica Composite Index is up 72.22 points to 156,185.95, the JSE Market Index gained 64.62 points to 141,690.58, the JSE combined index rose 247.76 points to be at 147,539.23 and the junior market index rose 20.91 points to 1,646.92.
In trading, 26 securities have changed hands with a volume of 1,526,763 units as 9 stocks gained and 9 declined.
Juniors up set to climb
J$ slips against all on Friday
On Friday, the Jamaican dollar slipped against the three major currencies it usually trades against, in the foreign exchange market. Purchasing by dealers was just slightly more than the funds they sold. At the close of trading, dealers bought the equivalent of US$40,251,301 and sold the equivalent of US$39,350,916, compared with US$16,888,330 they purchased and US$24,496,549 sold on Thursday.
US dollar trading , dealers bought US$36,593,430 compared to US$14,549,371 on Thursday. The buying rate for the US dollar rose 51 cents to $119.45 
and US$37,420,311 was sold versus US$20,657,823 on Thursday, the selling rate rose 4 cents to $119.97. The Canadian dollar buying rate fell 3 cents to end at $87.36 with dealers buying C$1,562,984 and selling C$1,203,103, at an average rate that dropped 87 cents to $88.69. The rate for buying the British Pound jumped $1.75 to $178.91 for the purchase of £1,598,967, while £622,047 was sold, with the rate falling $1.36 to $179.20. At the end of trading, it took J$127.36 to purchase the Euro, a rise of 27 cents from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$124.41 for a fall of 15 cents from Thursday’s rate. The US dollar equivalent of other currencies traded, amounts to US$120,061 being bought, while US$111,998 was sold.
Highs & Lows| On Friday, the highest and lowest buying rates for the 
US dollar and the highest and the lowest selling rates were all unchanged at $120.10, $98.66, $126.42 and $98.66 respectively. The highest buying rate for the Canadian dollar fell $1 to end at $90, the lowest buying rate dipped 83 cents to $70.80, the highest selling rate rose 49 cents to $92.17 and the lowest selling rate was unchanged at $84.50. The highest buying rate for the British Pound, remained at $181. The lowest buying rate fell by 83 cents to $144.42, the highest selling rate dropped $2.99 to $184.26 and the lowest selling rate was unchanged at $174.
Bulls retreat on JSE – Friday
Carib Cement closed at a new 52 weeks’ high on Friday.
The JSE Market Index lost 480.67 points to 140,626.96, the all Jamaica Composite Index fell 537.18 points to end at 156,113.73 and the JSE combined index declined 149.43 points to end at 147,291.47.
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 7 with lower offers.
In trading, Cable and Wireless closed with 1,389,853 units changing hands at $1.52 after the price gained 9 cents, Caribbean Cement climbed 20 cents to end at a 52 weeks’ high of $19.20, with 75,115 shares changing hands, Carreras rose 90 cents to close at $56 with 13,048 units trading. Ciboney did not trade but had a bid to buy 125,000 units at 19 cents and just below, are bids between 16 cents and 18 cents to buy 2.38 million units. Desnoes & Geddes ended with 44,130 shares trading at $30, Gleaner traded 23,325 units at $1.95, Jamaica Broilers lost 60 cents as it traded 266,093 shares to close at $8. Jamaica Producers traded 18,661 shares to end at $31, JMMB Group lost 14 cents while trading 5,400 shares to close at $10.11. Kingston Wharves ended with 76,220 shares changing hands at $11.30 after losing 17 cents, 
National Commercial Bank closed with a loss of $1.19 as 105,766 shares changed hands to end at $36. Pan Jamaican Investments declined by $1 to end at $89 with 12,618 units changing hands. Pulse Investments traded 10,000 shares and ended at $2.50 after falling 50 cents, Sagicor Group fell 5 cents in trading 39,505 units to end at $16.65. Scotia Group had 19,600 shares changing hands and closed at $27, Supreme Ventures had 250,643 units changing hands but the price rose 10 cents to $4.80. Proven Investments ended at 22.9 US cents with 108,528 changing hands, Jamaica Money Market Brokers 7.50% preference share traded 75,000 units with the price ending at $1.80.
Huge profit turn at Honey Bun – BUY RATED
Honey Bun turned around a loss of $17 million in the September 2014 quarter into a profit of $4 million in 2015 and a profit of only $23 million into a one of $68 million for the 2015 fiscal year or earnings per share of 72 cents.
The performance and IC Insider’s forecast for the next two years, (See EPS forecast below) have elevated the status of the stock to BUY RATED.
The change came from a 22 percent rise in revenue in the quarter to $215 million from $169 million in 2014 and from a 19 percent growth in revenues for the full year, to $887 million from $747 million in 2014. The profit in the September quarter is a major achievement for the company it being the first time since 2012 when a small profit of $550,000 was realized that the company is reporting a profit.
“The company services lots of schools and so the summer months are normally reduced due to the holiday season for July and August. We will always have this challenge but we have somewhat overcome a significant portion of it by way of the development of new products that are not directly geared for schools and by targeting other markets also.
One Honey Bun’s Products
Helping the growth in profits was an improvement in gross profit and gross profit margin with the latter being 42.8 percent up from 41 percent in 2014 and from a 9.5 percent increase in administrative and other expenses, selling & distribution costs of $307 million from $280 million.
Investments, cash and equivalents rose to $92 million, net current assets stood at $102 million, borrowed funds fell from $73 million in 2014 to $51 million while equity rose to $368 million.
The company’s shares are listed on the junior market of the Jamaica Stock Exchange and last traded at $5.50, with the price being up 164 percent since 2015, and now sports a PE of 7.6 times 2015 earnings. IC Insider is forecasting earnings per share (EPS) of $1.15 for the 2016 fiscal year which gives it a PE of 4.8 and EPS of $1.70 for 2017.
The company advised that the Board of Directors will meet on Monday, December 7 to consider the declaration of a dividend. An interim dividend of 12 cents per stock, amounting to $11.3 million was paid in May this year.
Juniors make strong recovery on Friday
Knutsford closed at a new high of $9 on Friday
Only 2 securities ended with no bids to buy and 7 had no stocks being offered for sale. A total of 4 stocks closed with bids higher than the last traded prices and none closed with lower offers.
In trading, Access Financial Services traded 249 units with the price rising 7 cents to $13.57, AMG Packaging closed at $6 with 1,458 units changing hands, Blue Power rose by 1 cent and closed with 10,265 units trading, C2W Music ended with 61,000 units changing hands at 38 cents. Caribbean Cream had 87,000 units changing hands but lost 10 cents, to end at $4.40, Caribbean Flavours in trading 7,426 units and ended at $6.57, Caribbean Producers gained 35 cents in trading 462,506 units to end at $5.80 for a 52 weeks’ closing high, Consolidated Bakeries fell 10 cents trading 19,736 shares at $1.30. Dolphin Cove ended with 128,900 units changing hands with a $1 gain to $16, General Accident ended with 699,239 shares changing hands and closed at $2 after declining by 19 cents, Honey Bun with 1,000 shares changing hands, closed with a gain of 15 cents at $5.65 for a new 52 weeks’ high. Jamaican Teas gained 5 cents with 3,000 shares trading at a 52 weeks’ closing high of $5,
KLE Group ended with 30,000 units with a loss of 10 cents at 70 cents, Knutsford Express jumped $1 in trading 30,000 units at $9 for a 52 weeks’ high. Lasco Distributors closed with 1,135,443 shares changing hands, to end with a rise of 5 cents at $4.05, Lasco Financial ended at $3, with 1,124,054 shares changing hands. Lasco Manufacturing rose 16 cents to $3.71 with 651,985 shares trading, Sweet River Abattoir traded just 612 units at $3.95 and Derrimon Trading preference share ended with 3,500 trading at $2.20.
No price change for TTSE – Friday
Trading on the Trinidad and Tobago Stock Exchange was moderate Friday, ending with 14 active securities but there were no prices changes based on last traded prices and only 60,287 shares changed hands for a value of $1,263,624.
At the close, the Composite Index ending with a fall of 1.82 points at 1,158.66, the
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 6 stocks with the bid higher than the last selling price and 6 stocks with offers that were lower.
Firm Trades| Agostini’s traded 170 shares at $18.20, ANSA McAL contributed 200 shares and ended at $67, Ansa Merchant Bank traded 500 units to close at $38.96, Clico Investment Fund closed with 7,389 shares changing hands at $22.65. 
First Citizens Bank traded 6,769 shares to close at $35.01, Guardian Holdings with 5,680 shares changing hands, closed at $12.90, Massy Holdings closed at $61.95 with 20 shares changing hands, National Commercial Bank traded 10,200 shares at $1.95. National Enterprises with 350 shares changing hands at $16.49, National Flour with 1,000 shares ended at $2.22, Republic Bank closed at $112, with 1,000 shares changing hands. Sagicor Financial Corporation closed with 8,377 shares changing hands at $6.03, One Caribbean Media ended with 17,205 shares valued at $378,510, changing hands at $22.05 and West Indian Tobacco added 1,427 shares and ended at $126.15.
JSE make moderate gains early Friday
In early trading on the Jamaica Stock Exchange, the main market indices have inched up and junior market index also gained, as the market was active from the start, but with moderate volumes.
At 10.45 am, the all Jamaica Composite Index is up 91.31 points to 156,742.22, 
the JSE Market Index gained 81.71 points to 141,188.34, the JSE combined index rose 150.44 points to be at 147,591.34 and the junior market index was up 8.21 points to 1,600.13.
The main trades have been Cable & Wireless traded 732,740 units and last traded at $1.45, Lasco Manufacturing with 526,824 shares at $3.51, Caribbean Producers with 362,506 units with a gain of 30 cents to $5.75, Jamaica Broilers with 187,098 units at $8.40 and Supreme Ventures with 172,209 shares at $4.80 and Kingston Wharves with 65,660 units at $11.
In trading, 24 securities have changed hands with a volume of 2,368,532 units as 6 stocks gained and 6 declined.
J$ slips against all on Thursday
On Thursday the Jamaican dollar slipped against the three major currencies it usually trades against in the foreign exchange market. Purchasing by dealers was US$7.6 million less than the funds they sold. At the close of the market, the equivalent of only US$16,888,330 was bought by dealers with the equivalent of US$24,496,549 sold, compared with US$32,919,431 they purchased and US$37,604,938 sold on Wednesday.
In US dollar trading , dealers bought US$14,549,371 compared to US$30,545,842 on Wednesday. The buying rate for the US dollar declined 34 cents to $118.94 and US$20,657,823 was sold versus US$35,916,393 on Wednesday, the selling rate rose 6 cents to $119.93. 
The Canadian dollar buying rate fell 8 cents to end at $87.39 with dealers buying C$942,453 and selling C$646,643, at an average rate that gained 26 cents to $89.56. The rate for buying the British Pound fell 81 cents to $177.16 for the purchase of £1,008,120, while £383,784 was sold, with the rate rising 97 cents to $180.56. At the end of trading, it took J$127.09 to purchase the Euro, a fall of 46 cents from Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$124.56 for a fall of 49 cents from Wednesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$144,899 being bought, while US$2,778,069 was sold.
Highs & Lows| On Thursday, the highest and lowest buying rates for the US dollar and the highest selling rate were unchanged at $120.10, $98.66 and $126.42, respectively. 
The lowest selling rate declined by $18.34 to $98.66. The highest buying rate for the Canadian dollar fell 40 cents to end at $91, the lowest buying rate remained at $71.63, the highest selling rate fell 66 cents to at $91.68 and the lowest selling rate declined by $1 to $84.50. The highest buying rate for the British Pound, rose 50 cents to end at $181. The lowest buying rate was unchanged at $145.25, the highest selling rate jumped $3.12 to $187.25 and the lowest selling rate was down by $1 to end at $174.
No stocks rise on TTSE’s – Thursday
Trading on the Trinidad and Tobago Stock Exchange declined to more moderate levels Thursday, ending with 11 active securities, none closed higher, 1 declined and 10 remained unchanged as 248,589 shares changed hands for a value of $2,284,764.
At the close, the Composite Index ending with a fall of 0.05 points at 1,160.48 the
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 6 stocks with the bid higher than the last selling price and 5 stocks with offers that were lower.
Gains| No stocks recorded gains on Thursday, this is the first time in November that this has happened.
Declines| Massy Holdings suffered a loss of 2 cents to close at $61.95 with 80 shares changing hands to end at a 52 weeks’ low.
Firm Trades| Clico Investment Fund closed with 8,361 shares at $22.65
First Citizens Bank traded 1,072 shares to close at $35.01, Grace Kennedy closed unchanged at $3.75 with 185,500 shares changing hands for a value of $695,625, JMMB Group contributed 3,956 shares and ended at 50 cents, Republic Bank closed at $112, with just 20 shares changing hands. One Caribbean Media closed with 220 shares changing hands at $22.05, Scotia Investments traded 124 units to end at $1.59, Trinidad and Tobago NGL closed at $22 as 46,717 shares changed hands for a value of $ $1,027,772 and West Indian Tobacco added 2,538 shares valued at $320,169 and ended at $126.15.
Bulls take charge of JSE on Thursday
Jamaica Producers closed at a new 52 weeks’ high of $31 on Thursday.
Activity took place in 42 securities, leading to 22 securities rising and 10 declining with 4 stocks ending at 52 weeks’ closing highs and one stock closed at a 52 weeks’ low. The JSE Market Index rose 1,159.84 points to 141,106.63, the all Jamaica Composite Index climbed 1,296.19 points to end at 156,650.91 and the JSE combined index gained 1,523.05 points to end at 147,440.90.
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 7 with lower offers.
In trading, Cable and Wireless closed with 1,296,078 units changing hands at $1.42 and gained of 2 cents, Caribbean Cement climbed $1 to $19 with 250,137 shares changing hands,
Carreras fell $3.90 to close at $55.10 with 5,319 units trading, Ciboney did not traded but had a bid to buy 400,000 at 17 cents and just below that are bids to buy 1.9 million units at 16 cents. Desnoes & Geddes ended with 67,000 shares trading at $30, Gleaner traded 105,270 units at $1.94, Jamaica Broilers traded 1,102,100 shares to close at $8.60. Grace kenned traded 70,834 units 40 cents higher at $75.50, Jamaica Producers jumped $2 while trading 8,779 shares to end at $31 for a 52 weeks’ high, The Jamaica Stock Exchange had 43,000 shares changing hands but fell 13 cents, to end at $13.15, JMMB Group rose 5 cents while trading 161,362 shares to close at $10.25. Kingston Wharves ended with 11,638 shares changing hands at $11.47, Mayberry Investments closed with 21,830 units trading with a gain of 50 cents and ended at $4.50, National Commercial Bank closed with a rise of 18 cent as 105,002 shares changed hands to end at $37.19. Pan Jamaican Investments dropped $5 to end at $90 with 6,531 units changing hands. Pulse Investments traded 20,000 shares and ended at $3 after falling 65 cents, Radio Jamaica ended at a 52 weeks’ high of $5.50, after rising 43 cents, with 11,610 units changing hands, Sagicor Group rose 20 cents in trading 239,919 units to end at $16.70. 
Scotia Group had 9,055 shares changing hands and closed with a rise of 65 cents at $27, Scotia Investments jumped $5.50 to $33.50 but with only 1,000 units changing hands, Supreme Ventures had 29,320 units changing hands but the price slipped 19 cents to $4.70. Proven Investments ended at 22.9 US cents with 108,528 changing hands, Jamaica Money Market Brokers 8.50% preference share traded 107,067 units with the price jumping $1.01 to end at $4.50 and Jamaica Money Market Brokers 8.75% preference share, traded 89,000 units at $2.65.
