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Juniors up on Thursday with 5 gains

October 15, 2015 by IC Insider.com

Caribbean Flavours traded at a 52 weeks’ high of $3.30.

Focus on the Jamaica Stock Exchange on Thursday was mostly on main market stocks with only 7 junior market securities trading up to midday. By the close, 10 securities traded and the junior market index was up 27.38 points to 1,232.17 with 2,227,302 units, valued at $6,746,786 changing hands as 5 stocks advanced and 1 declined.
The market ended with 5 securities ended with no bids to buy, while 3 had no stocks being offered for sale. A total of 7 stocks closed with bids higher than the last traded prices and 2 closed with lower offers.
In trading, AMG Packaging gained 8 cents to close at $3.88, with 1,072,687 units changing hands, Caribbean Cream fell 8 cents to $3.30 with 2,000 shares changing hands, Caribbean Flavours added 22 cents in trading 10,000 units at an all-time high of $3.30,

Caribbean Producers traded 51,678 units and gained of 20 cents to end at $3. Consolidated Bakeries had 169,000 units changing hands at $1.18, Derrimon Trading had 635,700 shares changing hands at $2.30, KLE Group traded 10,000 units at 43 cents. Lasco Distributors rose 29 cents with 20,000 shares changing hands and closed at $2.80, Lasco Financial closed at $2.25 while 156,219 shares changed hands and Lasco Manufacturing traded 100018 shares to end at $3.29 after trading gaining 28 cents.

Filed Under: JSE Junior Market, Stock Market Tagged With: AMG Packaging, Caribbean Flavours, Caribbean Producers (CPJ), Consolidated Bakeries, Daily Trading, Derrimon Trading, junior market, Lasco, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Purity

Only 16K shares traded on TTSE

October 15, 2015 by IC Insider.com

Activity on the Trinidad & Tobago Stock Exchange on Thursday ended with 12 securities trading. At the close there were 2 stocks closing higher, 2 declined and 8 remained unchanged as a total of 16,155 units traded, valued at $362,011.
At the close the Composite Index ending with a decline of 0.04 points at 1,146.53, the All T&T Index fell 0.14 to 1,946.20 and the Cross Listed Index remained at 45.51.
gains| Ansa Merchant Bank traded 1,369 units to close 1 cent higher at $38.95 and Sagicor Financial Corporation closed with 181 shares changing hands, to end 1 cents higher at $6.
Losses| Massy Holdings traded 1,360 shares with the price ending at $62.46, after losing 1 cent and National Enterprises with 23 shares changing hands to end 1 cent lower at $16.72, to close at a 52 weeks’ low
Firm Trades| Berger Paints with 200 shares changing hands, closed at $3.66, ANSA McAL contributed 850 shares in trading, to close at $67.03, First Citizens Bank traded 2,546 shares and closed at $35. Guardian Holdings with 2,026 shares trading, closed at $13.12, National Flour closed with 400 shares trading for $1.96, Point Lisas traded 1,000 shares to close at $3.95, Trinidad Cement traded 6,000 units at $3.16 and West Indian Tobacco traded just 200 shares to closed at $126.
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 5 stocks with offers that were lower.

Filed Under: Stock Market, TTSE Market Tagged With: Ansa Mcal, Ansa Merchant Bank, Berger Paints, Daily Trading, First Citizens, Guardian Holdings, Massy Holdings, National Enterprises, National Flour, Point Lisas, Sagicor Financial Corporation, Trinidad Cement, TTSE, West Indian Tobacco

The JSE enjoying slow Thursday morning

October 15, 2015 by IC Insider.com

The Jamaica stock market is enjoying a slow morning of trading with only 16 securities being active at 11 am with a volume of 1,157,117 units as 5 stocks gained and 6 declined.
In trading, Caribbean Cement traded at a new 52 weeks’ high of $12 with limited volume as the supply has effective dried up with only one offer at $15. Derrimon Trading had 635,700 shares traded at $2.30, subsequent to 11am Desnoes & Geddes traded at $28.50 for an increase of $3.47.
The All Jamaican Composite index rose 405.74 points to 127,674.61 JSE Market Index rose 397.92 points to 115,213.23, the JSE combined index rose 446.32 points to be at 119,607.39 and the junior market index rose 11.59 points to 1,216.38.

Filed Under: JSE Main Market, Stock Market Tagged With: Caribbean Cement, D&G, Derrimon Trading

Paramount rolls along with more profits

October 15, 2015 by IC Insider.com

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Paramount office

Junior market listed, Paramount Trading reported another quarter of increased revenues and profit with growth of 17 percent in sales to end at $238 million and profit of $42.6 million, an increase of 25 percent for the August quarter over that of 2014. Cost of sales increased by 12 percent much slower than the growth in revenues, leading to an upward movement in gross profit margin, from 32 percent to 34 percent. Distribution cost jumped 70 percent but from a small base, to reach $710 million while administrative cost excluding depreciation, rose 36 percent to $38 million. Finance cost fell from $1.8 million to $1.3 million.
“Year over year, operating expenses as a percentage of total revenue increased 16.9 percent versus 14.9 percent as the company continued to strengthen its team and streamline operations. Paramount has a positive outlook for the rest of the year as it continues to aggressively pursue growth opportunities,” Hugh Graham, CEO & Managing Director stated in a report to shareholders accompanying the financials.
During the quarter the company generated $44 million in cash from operations and ended up with new cash funds of $69 million after reducing the level of receivables by $20 million, payables grew by $33 and Inventory rose by $15 million, putting cash and equivalent at $164 million at the end of the August.

Some of the products the company handles

The principal activity of the Company is importation and distribution of chemicals and other related products including “SIKA” branded hardware products, whose line of products include anchoring adhesives and sealants principally distributed to the commercial hardware market.
Earnings per share for the quarter ended at 28 cents compared with 22 cents, in the August 2014 quarter and 95 cents for the 2015 year that ended in May. IC Insider forecast $1.45 per share for the full year. The stock trades at $6.10 on the Junior market, placing the PE ratio at 4 with much room for growth in the stock price with nearly half of the junior stocks valued at an average of 8.6 times current year’s earnings with all of those above 7.7 times.
The company will be considering a dividend at a directors’ meeting to be held on Thursday, October 29. The last dividend paid, was 15.1 cents per share on December 12, last year and in December 2013, 13.5 cents. With the 2015 full year profit being up by 57 percent over 2014, investors should see an increase to about 23.5 cents per share being paid this time around.

Filed Under: Buy Rated, Company News, Company Results Tagged With: Hugh Graham, Paramount Trading, Sika

J$ lost more ground on Wednesday

October 14, 2015 by IC Insider.com

The Jamaica dollar lost ground against the US dollar on Wednesday with the equivalent of US$28,123,813 being bought by dealers, compared with US$39,633,518 on Tuesday, while they sold the equivalent of US$32,663,359 versus US$28,821,789 previously.
In US dollar trading , dealers bought US$23,950,737 compared to US$37,263,331 on Tuesday. The buying rate for the US dollar fell 12 cents to $118.84 and US$31,446,646 was sold versus US$26,530,020 on Tuesday, the selling rate gained 9 cents to end at $119.56. The Canadian dollar buying rate rose $1.51 to end at $90.10, with dealers buying C$1,497,531 and selling C$656,350, at an average rate that dropped 67 cents to $91.24. The rate for buying the British Pound increased $1.46 to $181.41 for the purchase of £1,926,701, while £380,537 was sold, at an average rate that climbed $1.08 to $182.63. At the end of trading, it took J$135.88 to purchase the Euro, with a rise of 2 cents from Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$133.26 for a loss of 10 cents from Tuesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$96,565 being bought, while US$134,581 was sold.
Highs & Lows| The highest buying rate for the US dollar added 5 cents on Wednesday to end at $119.80, the lowest buying rate gained 16 cents to close at $98.11, the highest selling rate ended unchanged at $126.05 and the lowest selling rate dropped $1.76 to end at $98.12. The highest buying rate for the Canadian dollar rose $1.50 to $93.50, the lowest buying rate fell 67 cents to be at $72.79, the highest selling rate lost $1.45 to end at $94.35 and the lowest selling rate was left at $86. The highest buying rate for the British Pound, declined 30 cents to end at $184.90. The lowest buying rate slipped $1.17 to $146.74, the highest selling rate rose $1.18 to $189.18 and the lowest selling rate closed unchanged at $176.

Filed Under: FX Market, Stock Market

Jamaica’s business confidence rebounds

October 14, 2015 by IC Insider.com

Business confidence levels rebounded in August according to the latest survey of the perception of present and future business conditions relative to the previous survey a report from Bank of Jamaica shows.
Persons in the business sector were responding to the questions “In general do you think business conditions are better or worse than they were a year ago in Jamaica” and in response to the future, “Do you think that in a year from now business conditions will get better or get worse than they are at present”?
The index of present business conditions increased to 158.4 from 130.3 and the index of future business conditions rose to 150.7 from 135.2 in the previous survey. The survey is conducted by the Statistical Institute of Jamaica on behalf of Bank of Jamaica amongst Chief Executive Officers, Managing Directors and Financial Controllers. The most recent survey was conducted in August 2015 and had 319 respondents.

Filed Under: Economy Tagged With: business confidence

Wednesday’s 9,714 JSE gain biggest ever

October 14, 2015 by IC Insider.com

The 9,714.07 points rise in the JSE all Jamaica Composite Index on Wednesday, is the largest move ever on the local stock market. The change betters last week’s Friday’s gain of 7,697.11 points and is larger than the April 13, 2004 fall of 9,295.39 points.
The two big moves in October this year, owe most of the gains to a 71.66 percent rise in the share price of Desnoes & Geddes (D&G) on Wednesday and 63.38 percent on Friday, October 9 which helped to move the stock from $8 to Wednesday’s price of $25.80, for a gain of 421 percent, for the year to date. With the price of the D&G stock having moved close to the equivalent price of J$31 for a share by Heineken, it does not seem likely that there will be another set any time soon.

Filed Under: JSE Main Market Tagged With: D&G, Jamaican Stock

Juniors slip sharply on Wednesday

October 14, 2015 by IC Insider.com

Lasco Distributors with responsibility to distribute “I Cool” drink, pulled juniors down.

The junior market index hit 1,300 points in the morning session on Tuesday fell sharply on Wednesday by 53.54 points to 1,204.79 with Lasco Distributors falling 42 cents, to close at $2.51 with 3,386,560 trading, while 5 stocks advanced, 1 declined as 11 securities encompassing 8,365,835 units, valued at $20,414,001 changing hands.
The market ended with 5 securities with no bids to buy, while 3 had no stocks being offered for sale. A total of 7 stocks closed with bids higher than the last traded prices and one closed with a lower offer.
In trading, Caribbean Cream had 29,200 shares changing hands at $3.38, to regain 20 cents it lost on Tuesday, Caribbean Producers traded 1,649,403 units with a gain of 21 cents to end at $2.80, Consolidated Bakeries had 245,000 units changing hands at $1.18, Dolphin Cove traded 4,533 units

for a gain of 30 cents to end at $12. General Accident traded 2,077,930 units at $1.75, as the price gained 17 cents, KLE Group traded 24,000 units at 43 Cents, but traded at a 52 intraday low of 42 cents, Lasco Financial closed at a new all-time high of $2.25 with a gain of 15 cents while 627,031 shares changed hands. Lasco Manufacturing traded 283,253 shares to end at $3.01 after trading down to $2.76 and up to $3.21 and Eppley 9.5% preference share had 4,505 units changing hands at $6.01.

Filed Under: JSE Junior Market, Stock Market Tagged With: Caribbean Producers (CPJ), Consolidated Bakeries, Dolphin Cove, General Accident, Lasco, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Purity

JSE records huge gain on Wednesday

October 14, 2015 by IC Insider.com

D&G gained $10.77 to push JSE index with all-time record gain

The Jamaica stock exchange closed trading on Wednesday with a record gain of 9,714.07 points on the JSE All Jamaican Composite index to 127,268.87 as Desnoes and Geddes share shot up by $10.77, to end at a record $25.80 with 61,276 unitss trading. The previous one day record increase, was on Friday October 9, with a 7,697.11 point gain.
The stock exchange main market is now 11,648.72 points or 8 percent away from the record close of 138,917.59 reached on 24th of January 2005. A total of 23 stocks rose, with 3 declining as 36 securities, totalling 11,897,638 units valued at $70,427,255 changing hands, in all market segments. 1 junior market and 2 main market stocks ending at new 52 weeks’ closing highs, 1 trading at a 52 weeks’ intraday high and one closed at an all-time low. The JSE Market Index shot up by 8,692.24 points to 114,815.31, and the JSE combined index jumped 7,728.74 points to end at 119,161.07.
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 11 stocks with bids higher than their last selling prices and 4 with offers that were lower.

In trading, Berger Paints traded 899,350 shares at $2.50 and gained 20 cents Cable and Wireless closed with an 8 cents increase with 210,000 shares changing hands to close at 60 cents, Caribbean Cement closed at to $10 with 14,620 shares changing hands, but traded at an intraday 52 weeks’ high of $10.99. Carreras traded 67,666 shares at $51 to gain 40 cents. Desnoes and Geddes stock closed with bids of $25.80 to buy 270,074 shares with an offer only 350 units at $28 with very small volumes above. Grace Kennedy traded with a gain of 1 cent, to close at $64.51 with 118,864 shares, Jamaica Broilers 618,120 shares to close at $6.99, JMMB Group traded 104,600 shares at $8.50 at the close with a gain of 44 cents, Kingston Wharves traded at a new high of $9.20 to add $1.55 with 1,850 shares changing hands. National Commercial Bank closed with a gain of 68 cents with 50,000 shares trading to close at $30.79, the shares of 138 Students Living added 25 cents in closing at $4.40 with 210,000 shares,

Pan Jamaican Investments traded 20,500 shares at the end at $63 with a gain of $1.44. Sagicor Group with 368,858 shares closed 1 cents higher at $13.16, Sagicor Real Estate Fund with 46,000 shares closed 50 cents down to $7.50. Scotia Group ended with 119,753 shares trading at $23.85 after gaining 33 cents, Scotia Investments gained $1.50 and ended at $27.50 with 111,000 shares traded, Seprod traded 4,888 shares at $14.95 for 5 cents loss, Supreme Ventures gained 6 cents and ended at $3.71, with 76,000 units. Proven Investments traded 19,000 ordinary shares at 22 US cents after adding a cent and Jamaica Public Service 9.5% preference share traded 4,932 units at $1125 each.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: 138 Students Living, Cable & Wireless, Caribbean Cement, Desnoes and Geddes’, Grace Kennedy, Jamaica Broilers, JPS, National Commercial Bank, Pan Jamaican Investments, Proven Investments, Sagicor Group, Sagicor Real Estate Fund, Scotia Group, Seprod, Supreme Ventures

No gains 1 fell on TTSE

October 14, 2015 by IC Insider.com

Activity on the Trinidad & Tobago Stock Exchange on Wednesday ended with 10 securities trading. At the close there were no stock closing higher, 1 declined and 9 remained unchanged as a total of 290,023 units traded, valued at $10,166,344.
At the close the Composite Index ending with a decline of 0.06 points at 1,146.57, the All T&T Index fell 0.13 to 1,946.34 and the Cross Listed Index remained at 45.51.
Losses| National Enterprises with 2,935 shares changing hands to end 1 cent lower at $16.73 to close at a 52 weeks’ low.
Firm Trades| Angostura Holdings with 1,478 shares changing hands, closed at $14, ANSA McAL contributed 730 shares in trading, to close at $67.03, Clico Investments with 15,150 shares valued at $340,886 being traded closed at $22.50, First Citizens Bank traded 250,930 shares with a value of $8,782,550 and closed at $35. Massy Holdings traded 785 shares with the price ending at $62.46, Republic Bank with 435 shares to close at $112, Sagicor Financial Corporation closed with 4,368 shares valued at $784,690 changing hands, to end at $5.99, Scotiabank with 12,798 shares being traded for $799,864 closed at $62.50 and LJ Williams B share traded 414 units at 97 cents.
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 4 stocks with offers that were lower.