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JSE falls as 15 stocks rise 12 down

November 4, 2015 by IC Insider.com

Barita Investments closed at a new 52 weeks’ high on Wednesday

The Jamaica Stock Exchange closed down in trading on Wednesday, with all three main indices falling. Trading ended with 41 securities being active, leading to 6,392,200 units valued at $35,577,578 changing hands, in all market segments. A total of 15 securities rose, 12 declined, including 4 stocks that ended at 52 weeks’ closing high and 2 at intraday 52 weeks’ high.
The JSE Market Index shed 559.17 points to 132,130.99 the all Jamaica Composite Index dropped 624.90 points to end at 146,620.13 and JSE combined index dipped 246.22 points to end at 137,502.10.
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 13 stocks with bids higher than their last selling prices and 2 with offers that are lower. In trading, Barita Investments closed at a new 52 weeks’ high of $3.50 while trading 24,500 shares to end at with a gain of 60 cents, Berger Paints dropped 45 cents to end at $3 after 13,162 shares were traded. Cable and Wireless continued under selling pressure and closed with a loss of 3 cents, but the volume increased over the 771,778 shares changing hands on Tuesday with 3,545,542 units changing hands to end at 80 centsJSE-sum-4-11-15.png”>

On the offer were 200,000 shares at 86 cents with bid in at 75 cents to buy 325,000 units. Caribbean Cement rose 12 cents to end at $18, with 50,537 shares changing hands. Desnoes & Geddes had 2,860 units changing hands, to close with a gain of 15 cents at $30.15, Gleaner Company traded 14,400 shares to end at $1.92, Grace Kennedy closed at $68.20 while gaining 20 cents with 12,493 shares changing hands. Jamaica Broilers traded 272,250 shares to close at $8.50, after trading at an intraday 52 weeks’ high of $9.20, Jamaica Producers traded 15,000 and gained 50 cents to end at a 52 weeks’ high of $23.50, Jamaica Stock Exchange closed with 26,000 shares trading with a loss of 35 cents at $10.65. JMMB Group traded 10,900 shares to close at $10 with the price gaining 14 cents, Kingston Wharves traded 31,347 units to close at $11, Mayberry Investments rose 10 cents to end at $4.20 by trading 2,049,700 shares. National Commercial Bank with 17,450 shares changing hands declined 50 cents to end at $32.50. Pan Jamaican jumped $3.49 in trading 19,650 shares to end at $85, Radio Jamaica closed at $4.82 for a fall of 18 cents in trading 12,330 shares.

Sagicor Group dropped 20 cents with 94,908 shares trading, to close at $14.50, Sagicor Real Estate Fund traded 3,000 units, the price closed at $10.50 after falling 50 cents, Scotia Group ended with 14,324 shares changing hands and closed at $26.17 after declining $1.03. Scotia Investments rose $1 to close at $27.50 as 6,000 units traded, Supreme Ventures traded at an intra-day high of $4.75, and closed at $4.50 with 10,100 shares changing hands and Proven Investments ordinary share ended at 22.98 US cents with 30,116 units changing hands.

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

Juniors break new ground with fresh high

November 4, 2015 by IC Insider.com

Lasco Distributors closed at a new high of $2.55 on Wednesday.

The junior market broke the 1,400 points level for the first time, just after the market opened on Wednesday morning, after Lasco Manufacturing traded 31,500 units at $3.90 to lift the index by 23.71 to 1,420.07. The junior market ended trading in 12 securities as 4 stocks advanced and 1 declined.
The market index rose 31.56 points to end at a new all-time closing of 1,427.92 and has gained 103 percent since the start of the year. A total of 3,205,139 units, valued at $12,454,599 changed hands.
The market ended with 1 stock closing at new 52 weeks’ high, while 2 securities ended with no bids to buy and 7 had no stocks being offered for sale. A total of 7 stocks closed with bids higher than the last traded prices and none closed with a lower offer.
In trading, Access Financial closed at $11.60 with 5,000 units changing hands to end at of $11.55 while gaining $1.05, Caribbean Cream with 1,169,249 shares changing hands ended at $3.95, Caribbean Flavours traded 100,000 units to end at $4.50, Caribbean Producers traded 32,296 units for a rise of 5 cents to end at $3.05. Derrimon Trading ended at $3.10, with 25,070 units changing hands.

Dolphin Cove had 80,000 shares changing hands at $11.03 after falling $1.96, General Accident ended with 82,455 shares changing hands, in closing at $1.90, Jamaican Teas had 2,300 shares trading to close at $3.90, Lasco Distributors ended with 554,500 shares changing hands and closed with a gain of 15 cents at $3.55 for a new all-time closing high. Lasco Financial closed with a 10 cents increase at $2.55, after trading earlier at $2.60, with a total of 131,975 shares changed hands and Lasco Manufacturing ended of $3.90 with 872,436 shares changing hands, Medical Disposables closed at $2.55 with 121,858 shares trading and Eppley cumulative preference share 2019, ended with 25,000 units changing hands at $6.07.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: Caribbean Flavours, Caribbean Producers (CPJ), Daily Trading, Derrimon Trading, Dolphin Cove, Eppley, Jamaican Teas, Lasco, Lasco Distributors, Lasco Financial Services, Lasco Manufacturing, Medical Disposables

TTSE down moderately on Wednesday

November 4, 2015 by IC Insider.com

T&TNGL dropped to $21.99 on Wednesday

Trading picked up on the Trinidad and Tobago Stock Exchange on Wednesday and ended with 12 securities trading. The market ended with 1 stock closing higher, 1 declining and 10 remaining unchanged as 193,590 shares changing hands for a value of $6,089,823.
At the close the Composite Index ending with a loss of 1.16 points at 1,148.87 the All T&T Index declined 2.30 points to 1,951.26 and the Cross Listed Index remained at 45.46.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 7
stocks with the bid higher than the last selling price and 3 stocks with offers that were lower.
Gains| Republic Bank was the sole stock to record an increase in price, as it traded 26,588 shares and gained 1 cent to close at $112.
Declines| Trinidad and Tobago NGL slipped 75 cents in trading to close at $21.99 with 40,501 units valued at $891,180.
Firm Trades| Clico Investment Fund closed with 44,880 shares valued at $1,010,699, changing hands, to end at $22.52, First Citizens Bank traded 1,055 shares and closed at $35.01, Guardian Holdings closed with 500 shares changing hands, at $12.80, Guardian Media closed with 546 shares changing hands at $19.77.

National Flour Mills with 7,152 shares changing hands closed at $1.97, Praetorian Property Mutual Fund traded 2,000 shares to end at $3.07, Sagicor Financial had 1,240 shares changing hands and closed at $5.75. Scotiabank closed with 16,585 shares valued at $1,036,563 changing hands, to end at $62.50. Scotia Investments closed with a volume with 50,000 shares changing hands at $1.65 and Trinidad Cement closed at $3.75 after trading 2,543 shares.

Filed Under: Stock Market, TTSE Market Tagged With: clico, Daily Trading, FX Market, Guardian Holdings, Guardian Media, National Flour Mills, Praetorian Property Fund, Republic Bank, Sagicor, Sagicor Financial, Scotia, Scotia Investments, Trinidad and Tobago NGL

Jam$ mixed on Wednesday

November 4, 2015 by IC Insider.com

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Foreign currencies into and out of the system, jumped well over Tuesday’s levels. At the close of trading, the equivalent of US$70,261,659 was bought by dealers, compared with US$34,196,386 on Tuesday, while they sold the equivalent of US$67,303,552 versus US$38,695,199 previously.
In US dollar trading , dealers bought US$65,914,311 compared to US$30,867,061 on Tuesday. The buying rate for the US dollar rose 36 cents to $119.58 and US$65,742,994 was sold versus US$36,880,303 on Tuesday, the selling rate rose 2 cents to end at $119.88. The Canadian dollar buying rate lost 1 cent to $88.42, with dealers buying C$1,010,113 and selling C$1,305,367, at an average rate that declined $1.52 to $91.34. The rate for buying the British Pound climbed 84 cents to $181.48 for the purchase of £1,777,274, while £256,712 was sold, at an average rate that dropped $1.07 to $181.96. At the end of trading, it took J$131.27 to purchase the Euro, a fall of 93 cents from Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$128.61 for a decline of $1.02 from Tuesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$903,047 being bought, while US$176,372 was sold.
Highs & Lows| On Wednesday, the highest buying rate for the US dollar, fell 6 cents to $120.05, the lowest buying rate rose 4 cents to $98.40, the highest selling rate remained at $126.10 and lowest selling rate gained 4 cents to end at $98.41. The highest buying rate for the Canadian dollar climbed $3.05 to $94.75, the lowest buying rate rose 17 cents to end at $72.96, the highest selling rate fell 30 cents to end at $93.75 and the lowest selling rate declined 50 cents to end at $86.50. The highest buying rate for the British Pound, fell 40 cents to end at $184.10. The lowest buying rate slipped 42 cents to $147.74, the highest selling rate dropped $2.65 to $188.34 and the lowest selling rate lost 30 cents to $177.20.

Filed Under: FX Market, Stock Market Tagged With: BOJ, British Pound, Canadian dollar, Daily Trading, euro, FX Market, General Accident, J$ vs euro, Jamaica dollar, US Dollar

Junior market breaks 1,400 to be at 1,437

November 4, 2015 by IC Insider.com

The junior market breaks the 1,400 points level in early trading on Wednesday morning session with Lasco Manufacturing trading 31,500 units at $3.90 to lift the index by 23.71 to 1,420.07 at 9:37am, the highest the market has ever traded up to then. The market was quite active with 23 securities trading within half an hour of opening, a development not seen for a long time.
Cable and Wireless traded 708,542 shares down to 80 cents and as high as 86 cents. The stocks now has bid of 81 cents to buy 200,000 shares on the offer is 4,600 units at 82 cents. In the wider market Jamaica Broilers traded 231,250 units at $9.20, Mayberry Investments traded 771,416 units at $4.20, Lasco Distributors traded 511,500 shares and Lasco Manufacturing with 582,147 units.
Trading resulted in 32 securities changing hands with a volume of 3,340,481 units as 14 stocks gained and 8 declined and a number of new all-time highs were reached with the Jamaica Stock exchange.
The Jamaica stock market after 75 minutes of trading, recorded gains in the indices. The All Jamaican Composite index gained 291.99 points to 147,537.02 strong> JSE Market Index rose 261.28 points to 132,951.44 the JSE combined index climbed 629.28 points to be at 138,356.64 and the junior market index rose 40.51 points to its highest level of 1,436.87.

Filed Under: JSE Main Market, Stock Market Tagged With: C&WJ, Jamaica Broilers, Lasco Distributors, Lasco Manufacturing, Mayberry

Profit gains 12% at Medical Disposables

November 4, 2015 by IC Insider.com

Profit after tax for the six months of the financial year to September for Medical Disposables of $42.7 million rose 11.5 percent over the similar period last year. For the September quarter, profit after tax came in at $23.4 million, an increase of only $1.9 million or 9.2 percent.
“The increase in profit was as a direct result of the improved performance in sales revenue for the period ended September, 2015”, Kurt Boothe, General Manager stated in the report to shareholders accompanying the interim financials.
Operating profit rose more impressively than net profit, with a rise to $30 million from $22.5 million, an increase of 33.6 percent and for the half year, 29.6 percent to $53.8 million from $41.5 million in 2014. Increases in finance cost, foreign exchange loss and provision for taxation helped to reduce the final numbers to a moderate increase. Cash flows for the six months before interest cost rose to $57 million from $45 million in 2014.
Earnings per share rose to 9 cents per share in the quarter and 16 cents for the six months and should end around 35 cents for the year ending March 2015.
Sales revenue rose to $599 million, increasing by $59 million or 10.9 percent for the six months to September compared to the same period last year. Revenue for the six months rose 8.9 percent to $308 million from $283 million.
Gross profit for the six months ended at $166.7 million and increased by $30.6 million or 22.5 percent compared to last 2015. “This improvement was due to increased sales in all product categories, changes in the product mix and maintaining gross margin efficiency the company said,” Boothe stated. For the quarter gross profit rose 17 percent to $82.6 million from $70.46. Gross profit margin increased to 26.8 percent in the September quarter from 24.9 percent last year for the similar quarter and for the six months period 27.8 percent versus 25.2 percent.
“Total operating expenses of $113 million reflected an increase of $18.4 million or 19.4 percent over the same period last year. The increase in expenses was driven mainly by staff related costs, insurance, utilities, professional fees, information technology services and expenses related to the new property purchased earlier in the year. Staff related expenses, in particular, increased because of the strategic decision to realign the staff complement and compensation to sustain the current growth, development and expansion of the business,” Boothe further stated in his report.
Current assets amounts $587 million inclusive cash funds of $77 million and current liabilities of $253 million, including short term borrowings of $74 million. Shareholders’ equity increased to $435 million with total borrowings of $324 million.
The main activity of the company is the sale of medical disposables and supplies. The company’s shares are listed on the junior market of the Jamaica Stock Exchange since December 2013. The stock last traded at $3.50 and is up 43 percent for the year to date. it is now priced at a PE of 10, based on IC Insider full year estimated earnings.

Filed Under: Company News, Company Results Tagged With: Jamaica Stock Exchange, junior market, Kurt Boothe, Medical Disposables & Supplies

Jam$ slips against all on Tuesday

November 3, 2015 by IC Insider.com

In foreign exchange trading on Tuesday, the Jamaican dollar slipped in value against all the three major currencies it trades against. Inflows of foreign currencies into the system, fell well short of Monday’s intake. At the close of trading, the equivalent of US$34,196,386 was bought by dealers, compared with US$50,529,982 on Monday, while they sold the equivalent of US$38,695,199 versus US$49,583,967 previously.
In US dollar trading , dealers bought US$30,867,061 compared to US$46,701,326 on Monday. The buying rate for the US dollar fell 5 cents to $119.22 and US$36,880,303 was sold versus US$47,603,305 on Monday, the selling rate rose 5 cents to end at $119.86. The Canadian dollar buying rate gained 39 cents to $88.43, with dealers buying C$1,684,103 and selling C$837,928, at an average rate that rose 16 cents to $89.82. The rate for buying the British Pound slipped 55 cents to $180.64 for the purchase of £1,260,568, while £695,860 was sold, at an average rate that climbed 72 cents to $183.03. At the end of trading, it took J$132.20 to purchase the Euro, a fall of 18 cents from Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.63 for a decline of 20 cents from Monday’s rate. The US dollar equivalent of other currencies traded, amounts to US$170,161 being bought, while US$124,382 was sold.
Highs & Lows| On Tuesday, the highest buying rate for the US dollar, rose 1 cents to $120.11, the lowest buying rate rose 75 cents to $98.36, the highest selling rate rose $1.12 to end at $126.10 and lowest selling rate gained 9 cents to end at $98.37. The highest buying rate for the Canadian dollar climbed 60 cents to $91.70, the lowest buying rate rose 41 cents to end at $72.79, the highest selling rate dropped $4.71 to end at $94.05 and the lowest selling rate gained 50 cents to end at $87. The highest buying rate for the British Pound, fell 50 cents to end at $184.50. The lowest buying rate climbed $2.61 to $148.16, the highest selling rate climbed $1.85 to $190.99 and the lowest selling rate rose 50 cents to $177.50.

Filed Under: FX Market, Stock Market Tagged With: BOJ, British Pound, Canadian dollar, Daily Trading, euro, First Citizens, FX Market, J$ vs euro, Jamaica dollar, US Dollar

Another day of records for JSE

November 3, 2015 by IC Insider.com

The Jamaica stock Exchange closed at yet another high at the end of trading on Tuesday. All three main indices representing the main market, rose at the end of trading. The market closed with 34 securities trading, leading to 6,392,200 units valued at $68,464,086 changing hands, in all market segments. A total of 20 securities rose and 8 declined, with 8 stocks ending at 52 weeks’ closing highs and 5 at an intraday 52 weeks’ high.
The JSE Market Index shot up 500.20 points to 132,690.16, the all Jamaica Composite Index gained 559.00 points to end at 147,245.03. JSE combined index climbed 906.22 points to end at 137,748.32. All Three indices are at new closing highs.
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 9 stocks with bids higher than their last selling prices and 6 with offers that are lower.
In trading, Cable and Wireless continued under selling pressure and closed with a loss of 11 cents, with 771,778 shares changing hands to end at 83 cents. Trading in the stock was between 83 and 90 cents, closing with a bid at 83 cents, to buy 246,781 shares. On the offer were 69,365 shares at 90 cents. By the close the number of serious offers increased dramatically and now total 44, ranging up to $3.10, for a total of 11 million units. The offers at $1.20 and below covers 2.1 million units. Caribbean Cement fell back 12 cents to end at $17.88, with 16,595 shares changing hands. Desnoes & Geddes had 98,677 units changing hands, to close at $30, Gleaner Company traded 72,840 shares to end at $1.92, after rising 2 cents, Grace Kennedy traded at $68 while gaining 30 cents with 4,695 shares changing hands. Jamaica Broilers traded 7,384 shares to close at $8.50 as the price gained shed 50 cents. Jamaica Producers traded 10,000 and gained $2 to end at a 52 weeks’ high of $23, Jamaica Stock Exchange closed with 27,272 shares trading to end at $11, JMMB Group traded 1,030,443 shares to close at $9.86, Kingston Wharves gained 40 cents in trading 6,000 units to close at $11, for a new 52 weeks’ high. Mayberry Investment rose 8 cents to end at $4.10 by trading 83,731 shares. National Commercial Bank with 257,400 shares changing hands dropped back by $3 to end at $33. Pan Jamaican traded 14,700 shares to end $3.49 lower at $85, Radio Jamaica closed at a new 52 weeks’ high of $5 to gain 50 cents in trading 13,896 shares, but ended with the offer at $4.44 by the end of trading. Sagicor Group rose 19 cents with 78,700 shares trading, to close at $14.70, Sagicor Real Estate Fund traded 23,000 units, the price closed at $11, Scotia Group ended with 1,059,827 shares changing hands and closed at $26.20, after rising 21 cents. The stock traded up to $28.50 for an intraday high, Scotia Investments fell $1.50 to close at $26.50 as 10,000 units traded and Supreme Ventures ended with a rise of 32 cents to $4.47 with 50,000 units changing hands.

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

Juniors up 103% for 2015 to date

November 3, 2015 by IC Insider.com

Lasco Manufacturing drink factory, which help push profit & the stock to new highs on Tuesday.

The junior market closed just shy of another milestone of 1,400 points with trading in 12 securities, the market index rose 48.59 points to end at a new all-time closing of 1,396.36 and has gained 103 percent since the start of the year. A total of 4,148,996 units, valued at $12,276,852 changed hands as 9 stocks advanced and 2 declined.
The market ended with 5 stocks closing at new 52 weeks’ high and 2 at an intraday high, while 2 securities ended with no bids to buy and 10 had no stocks being offered for sale. A total of 6 stocks closed with bids higher than the last traded prices and 2 closed with lower offers.
In trading, Cargo Handlers closed at $35 with 2,730 units changing hands to end at a new 52 weeks’ high of $35 while gaining $2, Caribbean Cream with 60,000 shares changing hands ended at $3.95 but traded for a new 52 weeks’ high. Caribbean Flavours gained 10 cents while trading 485,543 units to end at $4.50, for a new 52 weeks’ high, Caribbean Producers traded 60,000 units for a rise of 10 cents to end at $3, Consolidated Bakeries traded 15,000 shares, to end at $1.80 with a loss of 10 cents.

Derrimon Trading rose 10 cents to end at a new high of $3.10, with only 12,000 units changing hands, General Accident ended with 1,149,000 shares changing hands, in closing at $1.90, after falling 10 cents, Jamaican Teas had 50,000 shares trading to close at $3.90, Knutsford Express had 5,780 shares changing hands at $7 after rising by 50 cents to close at a new 52 weeks’ high. Lasco Distributors ended with 738,362 shares changing hands and closed with a gain of 20 cents at $3.40. Lasco Financial closed with a 15 cents increase at $2.45 after trading earlier at $2.71, with a total of 954,116 shares changed hands and Lasco Manufacturing ended at a new all-time closing high of $3.90 with 663,465 shares changing hands with a rise of 50 cents.

Filed Under: Breaking News, Feature Stories, JSE Junior Market, Stock Market Tagged With: Cargo Handlers, Caribbean Flavours, Caribbean Producers (CPJ), Consolidated Bakeries, Daily Trading, Derrimon Trading, General Accident, Jamaican Stock, Jamaican Teas, Knutsford Express, Lasco, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Purity, Trading Activity

TCL closes at another high on TTSE

November 3, 2015 by IC Insider.com

Trading picked up on the Trinidad and Tobago Stock Exchange on Tuesday and ended with 16 securities trading with IC BUY RATED Trinidad Cement jumping to a high for the day at $3.91but closing lower but at a new closing 52 weeks high. Investors are reacting positively to the company’s most recent results showing a big increase in profits. (See story on IC Insider.com). The market ended with 5 stocks closing higher, 2 declining and 9 remaining unchanged as 96,815 shares changing hands for a value of $2,116,596. Two stocks closed at new 52 weeks’ high.
At the close the Composite Index ending with a gain of 0.96 points at 1,150.03 the All T&T Index advanced by 1.90 points to 1,953.56 and the Cross Listed Index rose 0.04 points to 45.46.
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 3 stocks with offers that were lower.
Gains| First Citizens Bank traded 2,787 shares and closed at $35.01, having gained 1 cent, Clico Investment Fund gained 1 cent and closed with 1,000 shares, changing hands, to end at $22.52, Guardian Holdings closed with 1,530 shares changing hands, at $12.80, to gain 1 cent. Praetorian Property Mutual Fund traded 2,000 shares and advanced by 1 cent to end at $3.07 and Trinidad Cement closed 15 cents higher at a new closing 52 weeks’ high of $3.75, after trading as high as $3.91 with 37,102 shares changing hands.
Declines| Massy Holdings fell 1 cent in trading to close at $62.39 with 350 units and Republic Bank traded 5,839 shares and lost 1 cent to close at $119.99 to a new 52 weeks’ low.
Firm Trades| Agostini’s closed at $18.19 with 19,000 shares being traded for $345,610, Angostura Holdings ended with 1,851 shares changing hands and closed at $14. FirstCaribbean International Bank traded 985 shares and ended at $5, Guardian Holdings closed with 1,530 shares changing hands at $12.80. National Flour Mills with 4,100 shares changing hands closed at $1.97, National Enterprises with 590 shares changing hands, closed at $16.50, One Caribbean Media traded 3,600 shares at $22, Point Lisas traded 1,500 shares to close at $3.90 and Scotiabank closed with 9,776 shares changing hands ended at $62.50.