Blog Page — Page 1175

Ambush Marketing be careful

October 28, 2015 by IC Insider.com

Danielle Stiebel, Associate , Myers, Fletcher & Gordon (MF&G), during her presentation on “Ambush Marketing”.

Ambush Marketing is seen as a clever marketing strategy, but it has negative effects that impede on the rights of sponsors and other corporations who are victims of such acts.
Ambush Marketing is “a promotional tactic designed to associate a company, product or service with a particular event, or to attract the attention of people attending the event, without payment being made for an official sponsorship”, attorney Danielle Stiebel of Myers Fletcher & Gordon (MF&G) said in delivering a presentation on “Ambush Marketing” at a Wednesday Morning Breakfast Seminar hosted by the Jamaica Chamber of Commerce (JCC) and MF&G recently at the New Kingston Conference Centre.
Stiebel cautioned that marketers while being creative in their campaigns must avoid infringing various event players’ rights. In like manner, she said that in order to safeguard against ambush, sponsors must prepare well drafted sponsorship agreements that adequately protect their rights and provide for sufficient remedies in the event of breach. She also emphasised the need for organisers/promoters to be more vigilant in protecting sponsorship rights through proper protective and enforcement measures.
Earlier this year there was an outcry by Cable & Wireless one of the major sponsors at Boys and Girls alethic championship in Kingston about ambush marketing by one of it’s competitors at the event raising awareness in the topic.

Filed Under: General Business News Tagged With: Ambush Marketing, Boys and Girls alethic championship, Cable & Wireless, Danielle Stiebel, Jamaica Chamber of Commerce, Myers

National Gas holds at $23 on TTSE

October 28, 2015 by IC Insider.com

TCL hits a new high on Wedessday

Trinidad and Tobago NGL traded on the Trinidad and Tobago Stock Exchange on Tuesday at $23 with 26,360 shares valued at $606,280 changing hands. The stock continues under selling pressure as it closed with a bid of $22.75 to buy 12,000 shares with 93,197 units on offer at $23.
Activity on the Stock Exchange, ended with 13 securities trading with 3 stocks closing higher, 1 declined and 9 remained unchanged as a total of 209,912 units, valued at $3,879,300 changed hands.
At the close the Composite Index ending with a gain of 0.41 points at 1,147.87, the All T&T Index advanced by 0.80 points to 1,950.84 and the Cross Listed Index remained at 45.24.
Gains| Clico Investment Fund closed 1 cent higher with 48,296 shares valued at $1,087,074 to end trading at $22.50, National Flour Mills with 51,618 shares trading, gained 6 cents in closing at $1.96 and Trinidad Cement closed 10 cents higher at a 52 weeks’ high of $3.40 with 5,950 shares changing hands as investors responded positively to the company’s nine months results showing profit rising to $394.5 million from $60 million in 2015.
losses| Massy Holdings lost 5 cents to close with 3,978 shares trading at $62.40.
Firm Trades| First Citizens Bank traded 18,085 shares valued at $632,975 and closed at $35, Guardian Holdings closed with 16,287 shares valued at $208,473 changing hands at $12.80, Guardian Media traded 651 shares with the price remaining at $19.77, JMMB Group with a volume of 160,215 shares being traded at43 cents.

National Commercial Bank in trading 54,404 shares closed at $1.67, National Enterprises with 914 shares changing hands, closed at $16.50, Republic Bank traded 4,347 shares valued at $486,864 and closed at $112. Sagicor Financial Corporation closed with 1,886 shares changing hands at $5.75, Scotiabank traded 6,540 units with a value of $408,750 at $62.50 and Scotia Investments traded 25,000 units at $1.61.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with the bid higher than the last selling price and 3 stocks with offers that were lower.

Filed Under: Stock Market, TTSE Market Tagged With: clico, Daily Trading, First Citizens, Grace Kennedy, Guardian Holdings, Guardian Media, Massy Holdings, National Commercial Bank, National Enterprises, National Flour Mills, Republic Bank, Sagicor, Scotia, Trading Activity, Trinidad Cement, TTSE

C&W up to $1.50 in morning session

October 28, 2015 by IC Insider.com

Cable and Wireless traded 4,167,646 units between $1.45 and $1.50 to record and last traded at $1.47. The stocks now has bid of $1.45 to buy 238,600 shares on the offer is 2,544,861 units at $1.50. The other main trade has been Lasco Financial Services with 834,793 shares changing hands between $2.55 and $2.63, the stock last traded at $2.63.
Trading resulted in 26 securities changing hands with a volume of 6,111,547 units as 7 stocks gained and 8 declined.
The Jamaica stock market after 90 minutes of trading, recorded another morning of increases in the indices. The All Jamaican Composite index jumped 1,487.61 points to 144,641.99 JSE Market Index rose 1,331.13 points to 130,360.94 the JSE combined index rose 1,329.21 points to be at 134,729.11 and the junior market index rose 8.11 points to 1,304.52.

Filed Under: JSE Main Market, Stock Market Tagged With: Cable and Wireless, Lasco Financial Services

Jamaican $ steady vs US$ on Tuesday

October 27, 2015 by IC Insider.com

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The local currency again enjoyed another day of stability against the US dollar as it also made gains against the Pound sterling and Canadian dollar on Tuesday but unlike Monday when demand was less than supply on Tuesday demand was US$7 million more than supply. At the close of trading the equivalent of US$32,817,588 was bought by dealers, compared with US$42,229,067 on Monday, while they sold the equivalent of US$40,013,573 versus US$35,350,940 on the previous trading day.
In US dollar trading , dealers bought US$29,941,222 compared to US$38,757,520 on Monday. The buying rate for the US dollar gained 11 cents to $119.16 and US$38,224,150 was sold versus US$31,681,821 on Monday, the selling rate was unchanged at $119.64. The Canadian dollar buying rate rose 9 cents to end at $87.51, with dealers buying C$1,007,988 and selling C$776,956, at an average rate that declined by $2.33 to $89.60. The rate for buying the British Pound declined 12 cents to $180.25 for the purchase of £1,233,583, while £719,828 was sold, at an average rate that dropped 34 cents to $181.54. At the end of trading, it took J$132.18 to purchase the Euro, a rise of 14 cents from Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.56 for a fall of 5 cents from Monday’s rate. The US dollar equivalent of other currencies traded, amounts to US$270,082 being bought, while US$115,300 was sold. Highs & Lows| On Tuesday, the highest buying rate for the US dollar ended with a fall of 10 cents, to $119.90, the lowest buying and the highest selling rates remained unchanged at $98.28 and $125.94 respectively and lowest selling rate climbed $3.89 to end at $102.17. The highest buying rate for the Canadian dollar dropped 15 cents to $90.25, the lowest buying rate was unchanged at $72.21, the highest selling rate lost 41 cents to end at $93.09 and the lowest selling rate gained 50 cents, to $84.50. The highest buying rate for the British Pound, dropped 20 cents to end at $183.15. The lowest buying rate rose 17 cents to $147.91, the highest selling rate remained at $190.46 and the lowest selling rate fell $4 to end at $173.20.

Filed Under: Feature Stories, FX Market, Stock Market Tagged With: BOJ, British Pound, Canadian dollar, euro, J$ vs euro, Jamaica dollar, Trading Activity, US Dollar

Junior market slips below 1,300 on Tuesday

October 27, 2015 by IC Insider.com

Consolidated Bakeries with their Purity brand closed at a new 52 weeks’ high on Tuesday

The junior market enjoyed wide spread trading as 13 securities changed hands leading to the market index falling 19.83 points to close at 1,296.41. A total of 3,546,444 units, valued at $11,640,858 changed hands as 7 stocks advanced and 5 declined.
The market ended with 4 stocks closing at 52 weeks’ high and one traded at an intraday high. At the close 3 securities ended with no bids to buy, while 5 had no stocks being offered for sale. A total of 5 stocks closed with bids higher than the last traded prices and none closed with a lower offer.
In trading, Access Financial closed with a loss of 36 cents to $12.50 with 57,729 units changing hands, AMG Packaging closed with a gain of 63 cents at $5 with 43,796 units changing hands for a 52 weeks’ high, Caribbean Cream rebounded with a 15 cents rise and closed at $3.35 with 1,170,036 shares changing hands. Caribbean Flavours fell 8 cents to $4 with 300,685 shares changing hands, Caribbean Producers traded 346,000 units for a gain of 14 cents end at $3.10, Consolidated Bakeries traded 20,556 shares with a gain of 15 cents to end at $1.65, to close at a new 52 weeks’ high. Dolphin Cove had 4,585 units changing hands to end at $11.20 having lost $1.80, KLE Group ended with 39,000 shares changing hands and gained 2 cents to end at 45 cents. Lasco Distributors with 532,514 shares changing hands, closed 5 cents lower at $3.01 after hitting an intraday for a 52 weeks high of $3.40, Lasco Financial gained 23 cents and closed at $2.63 to close at a 52 weeks high while 740,049 shares changed hands. Lasco Manufacturing traded 283,090 shares to end at $3.11 while shedding 34 cents, Paramount Trading ended with 4,504 units changing hands for 10 cents higher to end at $7.10 and Derrimon Trading preference share ended with 1,400 shares changing hands to end at $2.20

Filed Under: JSE Junior Market, Stock Market Tagged With: Access Financial, AMG Packaging, Caribbean Flavours, Caribbean Producers (CPJ), Consolidated Bakeries, Daily Trading, Derrimon Trading, Dolphin Cove, Jamaican Stock, Lasco, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Paramount Trading

Bulls continue rampage on JSE

October 27, 2015 by IC Insider.com

After clearing the near 11 year record high set back in January 2005 on Monday on Jamaica Stock Exchange bulls continued their rampage and pushed the market on Tuesday to a new record high of 143,154 points after adding 2,959.73 points on the all Jamaica Composite Index.
A total of 24 stocks rose, 10 declined as 40 securities, totalling 6,809,889 units valued at $47,476,253 changed hands, in all market segments. A total of 12 stocks ended at 52 weeks’ closing highs and 3 traded at 52 weeks’ intraday high. The JSE Market Index shot up 2,648.39 points to 129,029.81, a new closing high. JSE combined index climbed 2,323.43, points to end at a new closing high of 133,399.90.
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 12 stocks with bids higher than their last selling prices and 2 with offers that were lower.
In trading, Berger Paints traded 15,000 shares and gained 40 cents to close at $3.40 for a 52 weeks’ high, Cable and Wireless closed with a gain of 24 cents as with 338,626 shares changed hands to end at 52 weeks’ high of $1.26. The stock closed 76,499 units on the bid at $1.27 and with over 2,168,716 million shares on the bid at $1.26. Caribbean Cement gained $1 to end at $18.50 for a new 52 weeks’ closing high, with 193,583 shares changing hands. Cement closed with seven lots being offered amounting to just over 400,000 shares between $18.50 and $24. Carreras ended at 52 weeks’ high with 5,000 share trading at $53 after adding 98 cents, Ciboney Group traded 200,000 shares to end at 9 cents after gaining 1 cent. Desnoes & Geddes had 451,515 units changing hands to close at $30, Grace Kennedy exchanged 1,200 shares at $67.50 to close at a new 52 weeks High as the price gained $2.40, Jamaica Broilers traded 162,859 shares to close at $8.01. JMMB Group lost 45 cents in trading 115,050 shares to close at $9.75, Mayberry Investments traded 49,431 shares and gained 31 cents to end at a 52 weeks high of $3.81, National Commercial Bank rose 12 cents to end with 73,630 shares trading at $31.50. Pan Jamaican price traded 12,771 shares to end at $80, Pulse Investments traded 118,971 and close at 5 by gaining 4 cents, Sagicor Group lost 20 cents with 68,757 shares trading to close at $14.30. Sagicor Real Estate Fund traded 25,000 units as the price gained 80 cents to close at $10 for a 52 weeks’ high. Scotia Group ended with 125,411 shares trading closed at $26.50 after rising by 50 cents, Seprod traded 31,400 shares at $14.96, Sterling Investments traded 216,400 shares to close at $13, Supreme Ventures ended at $3.90 with 808,203 units changing hands and lost 10 cents. Jamaica Money Market Brokers 8.75% preference share, had 100,000 units changing hands at $2.70 and Proven Investments 8% preference share closed with a loss of 10 cents as 120,500 units traded to end at $4.95.

Filed Under: Feature Stories, 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, Pan Jamaican, Proven Investments, Pulse Investments, Sagicor Group, Sagicor Real Estate Fund, Scotia Group, Supreme Ventures

National Gas settles at $23 on TTSE

October 27, 2015 by IC Insider.com

Newly listed Trinidad and Tobago NGL traded on the Trinidad and Tobago Stock Exchange on Tuesday to close at $23 with 676,145 shares valued at $15,551,335 changing hands. The stock closed with a bid of $23 to buy 16,943 shares with 1,500 units on offer at $23.25.
Activity on the Stock Exchange, ended with 12 securities trading. At the close, there were only 1 stock closing higher, 3 declined and 8 remained unchanged as a total of 1,084,127 units, valued at $18,947,984 changed hands.
At the close the Composite Index ending with a fall of 2.67 points at 1,147.46, the All T&T Index declined by 4.47 points to 1,950.04 and the Cross Listed Index fell 0.12 at 45.24.
Gains| Guardian Media gained 1 to end the day at $19.77 but with just 1 share trading.
losses| Guardian Holdings lost 25 cents to close with 103,000 shares valued at $1,318,300 changing hands at $12.80, for a 52 weeks’ low, National Enterprises with 11,725 shares changing hands, and lost 22 cents, to close at a 52 weeks’ low at $16.50 and National Flour Mills with 8,230 shares trading, lost 1 cent in closing at $1.90.
Firm Trades| Clico Investment Fund closed with 57,330 shares valued at $1,290,019 to end at $22.50, First Citizens Bank traded 5,761 shares and closed at $35. Grace Kennedy traded 5,000 units to close at $3.60, JMMB Group with a volume of 160,215 shares being traded at43 cents, National Commercial Bank in trading 54,404 shares closed at $1.67, Republic Bank traded 1,113 shares and closed at $112, Scotiabank traded 1,203 units at $62.50.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with the bid higher than the last selling price and 4 stocks with offers that were lower.

Filed Under: Stock Market, TTSE Market Tagged With: Caribbean stocks, clico, Daily Trading, First Citizens, Grace Kennedy, Guardian Holdings, National Commercial Bank, National Enterprises, Republic Bank, Scotia

C&W at $1.21 in morning session

October 27, 2015 by IC Insider.com

The all Jamaica Composite Index having broken the old 2005 record has gone on to record more gains in Tuesday morning trading as Cable and Wireless traded at $1.21 to record a gain of 19 cents and is up 18 percent from Monday’s close.
The stock now has bid of $1.26 to buy 116,500 shares. C&W has more than doubled in price since early last week Wednesday.
Trading resulted in 27 securities changing hands with a volume of 4,516,347 units as 13 stocks gained and 6 declined.
The Jamaica stock market after 90 minutes of trading, recorded another morning of increases in the indices. The All Jamaican Composite index jumped 1,734.44 points to 141,929.09 JSE Market Index rose 1,552 points to 127,933.42 the JSE combined index rose 1,510.32 points to be at 32,586.79 and the junior market index rose only 5.04 points to 1,321.28.

Filed Under: JSE Main Market, Stock Market Tagged With: C&WJ

National Gas drops 98c on TTSE

October 26, 2015 by IC Insider.com

New high for TCL on Monday after strong Q3 results

Newly listed Trinidad and Tobago NGL traded on the Trinidad and Tobago Stock Exchange on Friday to close at $23 with 69,027 shares valued at $1,604,115 changing hands as the price slipped 98 cents. The stock closed with a bid of $23 to buy 136,181 shares with 1,500 units on offer at $23.48.
Activity on the Stock Exchange, ended with 13 securities trading. At the close, there were 3 stocks closing higher, 5 declining and 5 remained unchanged as a total of 297,852 units, valued at $7,435,092 changed hands.
At the close the Composite Index ending with a fall of 1.03 points at 1,150.13, the All T&T Index declined by 1.15 points to 1,954.51 and the Cross Listed Index fell 0.12 at 45.36
Gains| JMMB Group traded 206,164 units to close at 43 cents after gaining 1 cent, Trinidad Cement closed at $3.30 with 42,325 shares changing hands as the price rose 11 cents to a new 52 weeks’ high of $3.31, the stock closed with the at $3.31 to buy 167,675 shares with no stock being offered for sale and Unilever Caribbean ended with 2,200 shares trading 2 cents up, for a new 52 weeks’ high of $67.29.
losses| Clico Investment Fund closed with 31,483 shares trading, to end at $22.50 after losing 1 cent, National Commercial Bank lost 1 cent in trading 223,595 shares at $1.67, National Flour Mills with 45,001 shares trading, lost 5 cents in closing at $1.91. Point Lisas traded 40,000 shares to close at $3.90, after losing 5 cents and Sagicor Financial Corporation declined by 25 cents with 70,000 shares changing hands, to end at $5.75.

Firm Trades| Angostura Holdings had 19,921 shares changing hands with the price to close at $14, First Citizens Bank traded 3,870 shares and closed at $35. Guardian Holdings closed with 300 shares changing hands at $13.05, Republic Bank traded 18,175 shares and closed at $112, West Indian Tobacco traded 1,600 shares to close at $126.01.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 3 stocks with the bid higher than the last selling price and 5 stocks with offers that were lower.

Filed Under: Stock Market, TTSE Market Tagged With: Angostura Holdings, clico, Daily Trading, First Citizens, Guardian Holdings, JMMB, JMMB Group, National Flour Mills, NCB, Republic Bank, Sagicor, Trinidad and Tobago NGL, Trinidad Cement, TTSE, Unilever Caribbean, West Indian Tobacco

Jamaican $ gains against all on Monday

October 26, 2015 by IC Insider.com

With Bank of Jamaica having sold funds into foreign currency market twice last week, resulting in a moderate revaluation of the Jamaican dollar on the Friday, the local currency again had another day of revaluation on Monday as demand was less than supply. The equivalent of US$42,229,067 was bought by dealers on Monday, compared with US$47,260,818 on Friday, while they sold the equivalent of US$35,350,940 versus US$40,548,955 previously.
In US dollar trading , dealers bought US$38,757,520 compared to US$43,192,155 on Friday. The buying rate for the US dollar lost 22 cents to $119.05 and US$31,681,821 was sold versus US$37,422,844 on Friday, the selling rate fell 4 cents to end at $119.64. The Canadian dollar buying rate dropped $1.58 to end at $87.42, with dealers buying C$1,506,877 and selling C$3,632,689, at an average rate that declined by 29 cents to $91.93. The rate for buying the British Pound declined 99 cents to $180.37 for the purchase of £1,463,083, while £505,871 was sold, at an average rate that dropped 54 cents to $181.88. At the end of trading, it took J$132.04 to purchase the Euro, a drop of $1.53 from Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.62 for a fall of $1.57 on Friday’s rate. The US dollar equivalent of other currencies traded, amounts to US$148,513 being bought, while US$108,653 was sold. Highs & Lows| On Monday, the highest buying rate for the US dollar ended with a rise of 10 cents, to $120 with the other rates remaining unchanged at $98.28 for the lowest buying rate ending, the highest selling rate at $125.94 and lowest selling rate at $98.28. The highest buying rate for the Canadian dollar dropped $3.10 to $90.40, the lowest buying rate declined by 33 cents to end at $72.21, the highest selling rate lost $1 to end at $93.50 and the lowest selling rate fell $2.10 to $84. The highest buying rate for the British Pound, dropped 55 cents to end at $183.35. The lowest buying rate fell 83 cents to $147.74, the highest selling rate rose $1.61 to $190.46 and the lowest selling rate climbed 70 cents to end at $177.20.