Trading of foreign currency in the forex market on Wednesday, saw the US dollar selling rate rising against the Jamaican dollar and the pound and Canadian dollar declining versus the local currency. The equivalent of US$38,513,726 was bought by dealers, compared with US$48,785,985 on Tuesday, while they sold the equivalent of US$43,034,863 versus US$39,217,475 previously.
In US dollar trading , dealers bought US$35,208,960 compared to US$45,101,656 on Tuesday. The buying rate for the US dollar rose 14 cents to $119.14 and US$41,144,885 was sold versus US$36,870,724 on Tuesday, the selling rate gained 9 cents to $119.66. The Canadian dollar buying rate advanced by 10 cents to end at $89.83 with dealers buying C$993,642 and selling C$815,037, at an average rate that dipped $2.26 cents to $90.54. The rate for buying the British Pound climbed 71 cents to $182.15 for the purchase of £1,581,355, while £680,911 was sold, at an average rate that declined 15 cents to $183.55. At the end of trading, it took J$135.62 to purchase the Euro, with a fall of 44 cents from Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$132.96 for a fall of 33 cents on Tuesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$146,307 being bought, while US$228,782 was sold.
Highs & Lows| The highest buying rate for the US dollar ended with a gain of $1.10 at $121, but the lowest buying rate ended 5 cents higher at $98.20, highest selling rate advanced 5 cents to $125.83 and lowest selling rate rose 4 cents to $98.19. The highest buying rate for the Canadian dollar fell $1.10 to $91.80, the lowest buying rate declined by 9 cents to end at $73.66, the highest selling rate lost 11 cents to end at $94.96 and the lowest selling rate gained 60 cents to end at $87.70. The highest buying rate for the British Pound, fell $1.65 to end at $184.85. The lowest buying rate rose 16 cents to $148.90, the highest selling rate rose 22 cents to $191.96 and the lowest selling rate remained at $177.50.
Jamaica dollar slips on Wednesday
7 juniors stocks rose 2 fell
The junior market ended with 11 securities traded as the junior market index fell 3.83 points to 1,281.95 with 1,300,792 units, valued at $14,184,687, changing hands as 7 stocks advanced and 2 declined.
The market ended with 5 securities ended with no bids to buy, while 2 had no stocks being offered for sale. A total of 7 stocks closed with bids higher than the last traded prices and 1 closed with a lower offer.
In trading, Caribbean Cream price slipped 33 cents and closed at $2.90 with 120,000 shares changing hands. Caribbean Flavours traded at $3.50 with 19,392 shares changing hands, Caribbean Producers traded 414,000 units to end at $2.99, Consolidated Bakeries rose 10 cents in traded 59,878 shares, to end at $1.30. General Accident Insurance ended with 127,562 shares changing hands to gain 5 cents and end at $1.90, KLE Group had 116,279 units changing hands at 43 cents, Knutsford Express traded 132,617 shares at $6.20 after adding 5 cents to end at a new 52 weeks’ high, Lasco Distributors with 10,763 shares changing hands, closing 3 cents higher at $2.86. Lasco Financial closed at a new all-time closing high of $2.60 while 147,651 shares changed hands with the price rising 10 cents, the stock traded at $2.65 during the day, Lasco Manufacturing traded 147,651 shares to end at $3.49 after trading 14 cents higher and Medical Disposables closed at $2.55 with a rise of 20 cents with 10,000 shares traded.
Jamaica dollar rose vs US on Tuesday
Trading of foreign currency into the forex market on Tuesday, had the US dollar selling rate ground falling against the Jamaican dollar and the pound and Canadian dollar rising versus the local currency. The equivalent of US$48,785,985 was bought by dealers, compared with US$28,906,392 on Friday, while they sold the equivalent of US$39,217,475 versus US$23,735,150 previously.
In US dollar trading , dealers bought US$45,101,656 compared to US$25,241,490 on Friday. The buying rate for the US dollar rose 6 cents to $119 and US$36,870,724 was sold versus US$22,798,959 on Friday, the selling rate fell 2 cents to $119.57. The Canadian dollar buying rate declined 57 cents to end at $89.73 with dealers buying C$1,388,271 and selling C$1,587,771, at an average rate that rose 54 cents to $92.80. The rate for buying the British Pound fell 21 cents to $181.44 for the purchase of £1,644,669, while £660,786 was sold, at an average rate that gained $2.20 to $183.70. At the end of trading, it took J$136.06 to purchase the Euro, with a fall of 12 cents from Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$133.29 for a fall of 53 cents on Friday’s rate. The US dollar equivalent of other currencies traded, amounts to US$141,716 being bought, while US$99,228 was sold.
Highs & Lows| The highest buying and highest selling rates for the US dollar ended unchanged at $119.90 and $125.78 respectively, but the lowest buying rate ended 4 cents higher at $98.15 and lowest selling rate jumped sharply by $9.20 to $98.15. The highest buying rate for the Canadian dollar fell 84 cents to $92.90, the lowest buying rate remained at $73.75, the highest selling rate added 24 cents to end at $95.07 and the lowest selling rate dropped 90 cents to $87.10. The highest buying rate for the British Pound, climbed $2 to end at $186.50. The lowest buying rate was unchanged at $148.74, the highest selling rate rose $2.68 to $191.74 and the lowest selling rate closed $1 higher to end at $177.50.
T&TNGL climbs $2 on TTSE
Trinidad and Tobago NGL traded on the Trinidad and Tobago Stock Exchange on Tuesday and gained TT$2 to close at a new high of $25 with 7,645,914 shares valued at $191,137,391 changing hands. The stock closed with a bid of $24 to buy 422 shares with 21,663 on offer at $25.
Activity elsewhere on the Stock Exchange, on Tuesday ended with 11 securities trading. At the close, there was just 4 stocks closing higher,1 declined and 5 remained unchanged as a total of 7,755,051 units traded, valued at $192,821,409.
At the close the Composite Index ending with a rise of 2.39 points at 1,152.54, the All T&T Index gained 4.74 points to 1,958.07 and the Cross Listed Index was unchanged at 45.52.
Gains| Angostura Holdings had 598 shares changing hands with the price gaining 1 cent to close at $14.01. Ansa Merchant Bank traded 200 units to close 1 cent higher at $38.95, Clico Investment Fund closed with 59,746 shares valued at $1,344,882 changing hands to end at $22.51, after gaining 1 cent and First Citizens Bank traded 1,636 shares and closed 1 cent higher at $35.01.
Losses| Guardian Holdings lost 1 cents in trading 10,0001 shares and closed at $13.12.
Firm Trades| JMMB Group traded 21,276 units and closed at 43 cents, Republic Bank closed with 459 shares trading for $112, Scotiabank ended with 19 shares trading to end at $62.50. West Indian Tobacco traded just 200 shares to close at $126 and Trinidad Cement had 15,000 units changing hands at $3.16.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 4 stocks with the bid higher than the last selling price and 4 stocks with offers that were lower.
Strong gains for JSE Tuesday morning
The Jamaica stock market after 90 minutes of trading, recorded marked increases in the indices on Tuesday morning, with the main market indices at new intraday high except the All Jamaica Index. Trading resulted in 27 securities changing hands with a volume of 1,487,849 units as 10 stocks gained and 8 declined.
The All Jamaican Composite index jumped 1,414.98 points to 135,140.25 JSE Market Index rose 1,286.13 points to 121,858.69, the JSE combined index rose 1,379.37 points to be at 126,5212.12 and the junior market index rose 20.60 points to 1,283.29.
In trading, Hardware & Lumber exchanged 12,651 shares at $17.10 to gain $2.09, Scotia Group had 210,000 shares trading at $25.70, JMMB Group 7.50% preference share exchanged 500,000 units at $2, Caribbean Cream had 71,219 units changing hands at $3.30, Caribbean Flavours traded at a new high of $3.50 with 20,000 shares and Lasco Manufacturing 233,792 shares traded at $3.40.
Newly listed T&TNGL rules on TTSE
The Class B Shares of Trinidad and Tobago NGL Limited was listed on the Trinidad and Tobago Stock Exchange on Monday and gained TT$3 to close at $23 from the offering for sale price of $20. The company saw trading in 18,000 shares valued at $414,000. The stock closed with a bid of $23 to buy 362,287 shares with none on offer, a good sign that the price is headed higher with a PE ratio of less than 10 times this year’s earnings.
The company generated an operating profit of US$15 million for the March quarter of 2015, a fall of 65.5 percent compared to the 2014 quarter. Earnings per share based on the annualised first quarter results, is 25 TT cents. A total of 75.8 million out of 116,100,000 issued shares, were offered to the public to raise $1.5 billion for the government of Trinidad and Tobago.
Activity elsewhere on the Stock Exchange, on Monday ended with 11 securities trading. At the close, there was just 1 stock closing higher, declined and 9 remained unchanged as a total of 33,337 units traded, valued at $651,432. At the close the Composite Index ending with a rise of 3.57 points at 1,150.15, the All T&T Index gained 7.08 to 1,953.33 and the Cross Listed Index was unchanged at 45.52.
Losses| Clico Investment Fund closed with 800 shares changing hands to end at $22.50, after falling 1 cent.
Firm Trades| First Citizens Bank traded 2,851 shares and closed at $35, Flavorite Foods contributed 2,200 shares in trading, to close at $4.80, Grace Kennedy had 2,502 units changing hands at $3.60, Guardian Holdings with 4,986 shares trading, closed at $13.13. Guardian Media traded 888 shares with the price remaining at $19.76, Massy Holdings traded 50 shares with the price ending at $62.46, Republic Bank closed with 28 shares trading for $112, Sagicor Financial Corporation closed with 950 shares changing hands, to end at $6 and Scotiabank ended with 82 shares trading to end at $62.50.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 4 stocks with the bid higher than the last selling price and 4 stocks with offers that were lower.
Inflation moderates in September
Prices in Jamaica rose 0.4 percent on average in September compared to August 2015, the Statistical Institute of Jamaica (STATIN), reported. Inflation in August recorded an increase of 0.8 percent. According to the Statin report. The All Jamaica ‘All Divisions’ Consumer Price Index increased, with the index moving from 229 to 230.
The calendar year-to-date movement was 2.6 percent, while for the last 12 months, year over year inflation stood at 1.8 percent.
Increases in cost in the Education category, amounted to 5.3 percent due to the increase in tuition fees, the second highest movement was for the division Food and Non-Alcoholic Beverages which moved up by 1.1 percent. Two divisions recorded declines which moderated the overall movement in inflation with Housing Water, Electricity, Gas and other fuels fell by 1.2 percent and the Transport division is down by 1 percent.
The other divisions that recorded increases are: Alcoholic Beverages and Tobacco 0.1 percent, Clothing and Footwear 0.6 percent, ‘Furnishings, Household Equipment and Routine Household Maintenance 0.1 percent, Health 0.2 percent, Recreation and Culture 0.5 percent and Miscellaneous Goods and Services 0.2 percent while the divisions of Restaurants and Accommodation Services and Communication each recorded negligible movements.