Trading on the Jamaica Stock Market closed on Thursday with 6 stocks rising, 7 declining as 28 securities changed hands with 14,651,936 units trading, valued at just $107,442,438, in all market segments including more than 8.7 million units of JMMB Group.
At the close, the JSE Market Index inched up 55.21 points to 97,531.16, the JSE All Jamaican Composite index rose 61.71 points to 107,952.55 and the JSE combined index lost 95.48 points to end at 99,621.65.
IC bid-offer Indicator| At the end of trading in the main and junior markets, the Investor’s Choice bid-offer indicator showed a reading of 11 stocks with bids higher than their last selling prices and 4 with offers that were lower. In trading, Cable and Wireless had 212,226 units changing ownership at 42 cents, at the close 1,859,247 units are offered for sale at 45 cents. Caribbean Cement traded 48,097 shares and lost 89 cents to close at $8, Jamaica Broilers ended trading with 92,268 units at $5.60, for a rise of 20 cents. JMMB Group had 9,747,036 shares changing hands, to close 50 cents higher at $7.50, the bulk of the shares were sold through JMMB Securities and bought through Scotia Investments.
National Commercial Bank traded 127,790 shares to end at $29.30, for an increase of 12 cents. The banking group, released nine months results after trading closed, showing net profit of $8.554 billion compared to restated net profit of $8.97 billion for the prior year. Profit also slipped in the June quarter, to $3.15 billion from the net profit for the three months to June 2014 of $3.4 billion, even as wages fell to $2.7 billion from $2.86 billion in 2014. Sagicor Group ended trading with 1,815,420 units at $13.49, up 49 cents, Scotia Group had only 33,200 units trading unchanged at the end at $23.65, Supreme Ventures with 131,000 shares traded at $3.28 and Jamaica Money Market Brokers 7.50% preference share traded 96,000 units at $2.

In foreign currencies trading in Jamaica on Thursday, funds purchased were again more than the amount sold. The local currency remained relatively stable against the US dollar but gained against the Pound and the Canadian. The market closed with dealers buying the equivalent of US$40,816,983 in contrast to US$53,053,921 on Wednesday, while they sold the equivalent of US$39,105,219 compared to US$50,773,942 on the prior trading day.
In US dollar trading , dealers bought US$38,903,762 compared to US$50,382,620 on Wednesday. The buying rate for the US dollar remained at $117.02 and US$37,592,357 was sold versus US$48,939,846 on Wednesday, the selling rate fell 1 cent to $117.41. The Canadian dollar buying rate declined 46 cents to $88.04 with dealers buying C$720,760 and selling C$573,420, at an average rate that dropped $1.18 to $90.09. The rate for buying the British Pound declined $1.12 to $179.68 for the purchase of £802,024, while £520,148 was sold, at an average rate that fell 78 cents to $181.92. At the end of trading, it took J$127.88 to purchase the Euro, with a loss of 50 cents off Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$125.54 for a drop of 49 cents from Wednesday. Other currencies bought, amounted to the equivalent of US$139,472, while the equivalent of US$266,939 was sold.
Highs & Lows| The highest buying rate for the US dollar, rose 10 cents to $117.60, the lowest buying rate went up $1.15 to $96.15, the highest selling rate was unchanged at $123.21 but the lowest selling rate jumped $18.89 to $115. The highest buying rate for the Canadian dollar inched up 5 cents to $90.65. The lowest buying rate rose $1.13 to $72.84, the highest selling rate gained 45 cents to $93 and lowest selling rate dived $16.42 to $71.38. The highest buying rate for the British Pound, fell 25 cents to $183.15, the lowest buying rate regained 29 cents to $147.08, with the highest selling rate falling 51 cents to $186.77 and the lowest selling rate declining $3.80 to $176.

In foreign currencies trading in Jamaica on Thursday, funds purchased were again more than the amount sold. The local currency remained relatively stable against the US dollar but gained against the Pound and the Canadian. The market closed with dealers buying the equivalent of US$40,816,983 in contrast to US$53,053,921 on Wednesday, while they sold the equivalent of US$39,105,219 compared to US$50,773,942 on the prior trading day.
In US dollar trading , dealers bought US$38,903,762 compared to US$50,382,620 on Wednesday. The buying rate for the US dollar remained at $117.02 and US$37,592,357 was sold versus US$48,939,846 on Wednesday, the selling rate fell 1 cent to $117.41. The Canadian dollar buying rate declined 46 cents to $88.04 with dealers buying C$720,760 and selling C$573,420, at an average rate that dropped $1.18 to $90.09. The rate for buying the British Pound declined $1.12 to $179.68 for the purchase of £802,024, while £520,148 was sold, at an average rate that fell 78 cents to $181.92. At the end of trading, it took J$127.88 to purchase the Euro, with a loss of 50 cents off Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$125.54 for a drop of 49 cents from Wednesday. Other currencies bought, amounted to the equivalent of US$139,472, while the equivalent of US$266,939 was sold.
Highs & Lows| The highest buying rate for the US dollar, rose 10 cents to $117.60, the lowest buying rate went up $1.15 to $96.15, the highest selling rate was unchanged at $123.21 but the lowest selling rate jumped $18.89 to $115. The highest buying rate for the Canadian dollar inched up 5 cents to $90.65. The lowest buying rate rose $1.13 to $72.84, the highest selling rate gained 45 cents to $93 and lowest selling rate dived $16.42 to $71.38. The highest buying rate for the British Pound, fell 25 cents to $183.15, the lowest buying rate regained 29 cents to $147.08, with the highest selling rate falling 51 cents to $186.77 and the lowest selling rate declining $3.80 to $176.

Trading activity on the junior market ended on Thursday with the market losing further ground but Lasco Financial Service had a big trade of 1.7 million units while there is a bid to buy 1 million of Lasco Manufacturing at $1.31 just above the closing price. At the close there was activity in 8 securities with 2,297,914 units changing hands, valued at $3,559,947. The JSE Junior Market Index dropped 16.27 points to close at 846.18. The market ended with the price of only 1 stock rising and 5 declining.
At the close, the junior market had 7 stocks having bids higher than their last selling prices, 3 with lower offers and 6 securities closing with no bids to buy, while 6 had no stocks being offered for sale.
In trading, Caribbean Cream lost 19 cents in trading 127,020 shares at $2, Caribbean Flavours saw trading in 250,634 shares at $3, Derrimon Trading ended with 20,570 shares changing ownership at $2.08 for a decline of 12 cents, Honey Bun traded 12,900 units at $3.10, after adding 10 cents. Lasco Distributors traded 114,424 shares at $1.50, down 5 cents, Lasco Financial Services had 1,713,366 shares changing hands while losing 2 cents to end at $1.33, Lasco Manufacturing with 9,000 shares closed lower by 5 cents at $1.30 and Medical Disposables traded 50,000 shares to close $2.25.

Trading activity on the junior market ended on Thursday with the market losing further ground but Lasco Financial Service had a big trade of 1.7 million units while there is a bid to buy 1 million of Lasco Manufacturing at $1.31 just above the closing price. At the close there was activity in 8 securities with 2,297,914 units changing hands, valued at $3,559,947. The JSE Junior Market Index dropped 16.27 points to close at 846.18. The market ended with the price of only 1 stock rising and 5 declining.
At the close, the junior market had 7 stocks having bids higher than their last selling prices, 3 with lower offers and 6 securities closing with no bids to buy, while 6 had no stocks being offered for sale.
In trading, Caribbean Cream lost 19 cents in trading 127,020 shares at $2, Caribbean Flavours saw trading in 250,634 shares at $3, Derrimon Trading ended with 20,570 shares changing ownership at $2.08 for a decline of 12 cents, Honey Bun traded 12,900 units at $3.10, after adding 10 cents. Lasco Distributors traded 114,424 shares at $1.50, down 5 cents, Lasco Financial Services had 1,713,366 shares changing hands while losing 2 cents to end at $1.33, Lasco Manufacturing with 9,000 shares closed lower by 5 cents at $1.30 and Medical Disposables traded 50,000 shares to close $2.25.

Clico Investment Fund was the dominant trade on the Trinidad & Tobago Stock Exchange on Thursday accounting for 451,337 shares to end at $22.70 in 7 trades. Trading for the overall market ended with 11 securities trading on Thursday with 1 stocks gaining, none declining and 10 traded with prices unchanged. A total of only 598,836 shares traded, valued at $11,044,468.
At the close of the market, the Composite Index rose 0.04 points to close at 1,155.17, the All T&T Index advanced by 0.08 points to 1,964.53 and the Cross Listed Index remained at 45.53.
Gains| In trading Clico Investment Fund stock price rose 7 cents to $22.70 with a value of $9 to be the sole stock gaining on Thursday.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, First Citizens closed with 11,062 shares at $35.70. Flavorite Foods traded 1,000 share at $4.80, Guardian Holdings with 1,200 shares changing hands, closed at $13, JMMB Group closed at 45 cents with 105,000 shares, One Caribbean Media traded 2,500 shares at $22. Republic Bank ended with just 50 shares changing hands at $115, Sagicor Financial ended trading 20,000 units at $6.01, Trinidad Cement traded 4,536 shares to end at $2.91, West Indian Tobacco closed with 31 shares at $125.40 and Unilever Caribbean ended with 2,080 shares changing hands at $66.67.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 3 stocks with the bid higher than their last selling prices and 2 stocks with offers that were lower.

Clico Investment Fund was the dominant trade on the Trinidad & Tobago Stock Exchange on Thursday accounting for 451,337 shares to end at $22.70 in 7 trades. Trading for the overall market ended with 11 securities trading on Thursday with 1 stocks gaining, none declining and 10 traded with prices unchanged. A total of only 598,836 shares traded, valued at $11,044,468.
At the close of the market, the Composite Index rose 0.04 points to close at 1,155.17, the All T&T Index advanced by 0.08 points to 1,964.53 and the Cross Listed Index remained at 45.53.
Gains| In trading Clico Investment Fund stock price rose 7 cents to $22.70 with a value of $9 to be the sole stock gaining on Thursday.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, First Citizens closed with 11,062 shares at $35.70. Flavorite Foods traded 1,000 share at $4.80, Guardian Holdings with 1,200 shares changing hands, closed at $13, JMMB Group closed at 45 cents with 105,000 shares, One Caribbean Media traded 2,500 shares at $22. Republic Bank ended with just 50 shares changing hands at $115, Sagicor Financial ended trading 20,000 units at $6.01, Trinidad Cement traded 4,536 shares to end at $2.91, West Indian Tobacco closed with 31 shares at $125.40 and Unilever Caribbean ended with 2,080 shares changing hands at $66.67.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 3 stocks with the bid higher than their last selling prices and 2 stocks with offers that were lower.

Interest rates paid on Government of Jamaica Treasury bills continue to fall with the latest auction held on July 22, saw the rates on the 91 days and 182 days instrument declining from the out-turn of the June auction. At the mid-July auction of the 30 day Treasury bills the rate also recorded small decrease.
The rates at Wednesday’s auction, fell from 6.48 percent to 6.44 percent, for the instrument of 91 day duration and from 6.63 percent to 6.60 percent for the 182 days duration. Since the start of the year the rate for the 182 days instrument has slipped from 7.14 percent at the December auction or 8 percent. The 30 days instrument had fallen from 6.23 percent in June to 6.22 percent in July.
While $800 million chased after the $400 million 182 days instrument only $486 million went after the shorter term, 91 days one with an offering of the $400 million, an indication that investors see rates continuing to decline over the longer period, hence the greater desire to tie up yields for the next six months.
Lower rates if they are sustained on government bonds should lead to lower borrowing cost in the future, but for persons looking to fixed interest securities for income this will mean lower income for them unless they switch to other forms of investments. Lower interest rates make stocks more attractive and owning other forms of fixed assets such as real estate.

Interest rates paid on Government of Jamaica Treasury bills continue to fall with the latest auction held on July 22, saw the rates on the 91 days and 182 days instrument declining from the out-turn of the June auction. At the mid-July auction of the 30 day Treasury bills the rate also recorded small decrease.
The rates at Wednesday’s auction, fell from 6.48 percent to 6.44 percent, for the instrument of 91 day duration and from 6.63 percent to 6.60 percent for the 182 days duration. Since the start of the year the rate for the 182 days instrument has slipped from 7.14 percent at the December auction or 8 percent. The 30 days instrument had fallen from 6.23 percent in June to 6.22 percent in July.
While $800 million chased after the $400 million 182 days instrument only $486 million went after the shorter term, 91 days one with an offering of the $400 million, an indication that investors see rates continuing to decline over the longer period, hence the greater desire to tie up yields for the next six months.
Lower rates if they are sustained on government bonds should lead to lower borrowing cost in the future, but for persons looking to fixed interest securities for income this will mean lower income for them unless they switch to other forms of investments. Lower interest rates make stocks more attractive and owning other forms of fixed assets such as real estate.