Trading on Friday in the foreign exchange market saw buoyant flows to end off the week as inflows were more than the amount sold by dealers and resulted in slight appreciation of the Jamaican dollar. The purchase of all currencies by dealers amounted to the equivalent of US$46,758,067 compared with US$34,195,247, on Thursday and selling, the equivalent of US$40,993,978 versus sale of US$65,454,392, previously.
In US dollar trading, dealers bought US$44,452,045 compared to US$30,929,977 on Thursday. The buying rate for the US dollar rose 9 cents to $115.78 and US$39,857,108 was sold versus US$64,242,043 on Thursday, the selling rate declined by 2 cents to $116.10. The Canadian dollar buying rate rose 28 cents to $92.60 with dealers buying C$760,341 and selling C$523,539, at an average rate that fell 25 cents to $94.97. 
The rate for buying the British Pound fell $1.60 to $178.01 for the purchase of £1,001,924, while £370,134, was sold, at an average rate that slipped 5 cents to $180.78. At the end of trading it took J$129.15 to purchase the Euro, 23 cents more than on Thursday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$126.74 for a rise of 19 cents on Thursday’s rate. Other currencies bought, amounted to the equivalent of US$157,447, while the equivalent of US$132,292, was sold.
Highs & Lows| The highest buying rate for the US dollar, fell 4 cents to $116.31. 
The lowest buying, the highest and the lowest selling rates were unchanged at $94.98, $121.71 and $94.98 respectively. The highest buying rate for the Canadian dollar rose 70 cents to $95.80. The lowest buying rate fell 4 cents at $75.32, the highest selling rate gained $1.54 to $98.70 and the lowest selling rate fell 5 cents to $90.75. The highest buying rate for the British Pound, rose 61 cents to $182.51, the lowest buying rate closed unchanged at $144.63, the highest selling rate fell 50 cents to $185.02 with the lowest selling rate remained unchanged at $174.25.
J$ makes gains on Friday
13 up 6 down after 2 hours
The all Jamaica Composite index ended at 09,469.70 points at 11:30 in the morning 
session with 755.19 points added while the JSDE index was at 99,057.97 with an increase of 675.46 points and the junior market index gained 20.52 points to 883.66.
Trading so far are 23 securities covering 2.1 million units, with 13 rising and 6 falling. Cable & Wireless traded 202,915 at 47 cents, JMMB Group has 906,143 units trading at $9, Mayberry Investments traded 103,941 units at $3, National Commercial Bank had 82,110 trading at $30, Radio Jamaica trading 100,000 shares is at $2.6o and Jamaica Money Market Brokers 7.50% preference shares ended with 541,600 units at $2.30.
Derrimon profit jumps 83%
Derrimon Trading profit climbs 83 percent in the March quarter to $20.5 million although sales declined by 4.8 percent in in to $1.296 billion. Despite the sale decline, gross profit increased 17 percent from $142 billion to $166 billion.Other income declined from $12.6 million down to $5.5 million and distribution expenses fell $2.5 million to $21.7 million but administrative expense were up nearly $5 million to $119 million, interest cost rose from $14.9 million to $18.88 million. The company’s shares of associated company – Caribbean Flavours and Fragrances results contributed $8.36 million to the net results. There was no ownership of the associate in the similar period in 2014.
Decline in sales is not what investors want to see from a company, even when profit rise, looking forward increasing sales is what is going to drive profits and stock prices.
During the quarter under review, the directors approved the acquisition of the assets of Northern Cash and Carry as part of the strategy to expand the Sampars footprint at strategic locations island wide.
The financial structure remains a bother and places the company at a high level of risk with debt of $657 million including preference shares of $250 million and equity of only $380 million. Of the total loans, $335 million are short term and due within a year. There is also cash funds of $81 million but with the new acquisition approved, some of the cash is likely to be used to fund the purchase. With the short term loan due within a year, the company will have to restructure the loans as it is not producing the type of cash flow that would facilitate repayment from internally generated funds. In short, the company needs more equity capital or it ought to have a hybrid of debt, with an option to convert to equity at some point in time in the future.
Earnings per shares ended at 8 cents for the quarter and should end at around 32 cents for the year. The stock traded last on the Jamaica stock market at $2.15 putting the PE at 6.7 times earnings, not leaving much room for growth in the current market environment and valuation of junior market companies at present.
Moderate trades Friday on TTSE
Trading on the Trinidad Stock Exchange closed with 11 securities changing hands of which 2 advanced, 2 declined and 7 traded firm with a total of 60,070 units, valued at $872,353.
At the close of the market, the Composite Index lost 0.13 points to close at 1,160.12, the All T&T Index rose by just 0.06 points to close at 1,969.40 and the Cross Listed Index fell 0.04 points to end at 46.04.
Gains| Stocks increasing in price at the close are, ANSA McAL that traded 300,000 shares on Thursdays had only 1,721 units hanging hands on Friday while gaining 1 cent to $64.05 and Point Lisas Industrial Port Development traded 223 shares and gained 3 cents to end the day at $3.80.
Declines| The stocks declining at the end of trading are, Clico Investment Fund had just 840 shares and declined by 2 cents to end at $22.51 and Scotia Investments lost 5 cents to close at $1.45 with 1,500 shares traded.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, Angostura Holdings added 5,785 shares to close at $$13.90, Firstcaribbean International Bank with 30,000 shares changing hands for a value of $150,900, closed unchanged at $5.03, First Citizens Bank contributed 6,893 shares with a value of $246,769 to close at $35.80. National Enterprises traded 154 shares at $17.30, Republic Bank traded 1,923 units to close at $115, while Sagicor Financial Corporation traded 862 shares to close at $6.01 and Trinidad Cement with a volume of 10,169 shares traded ended at $2.75.
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.
9 stocks rose 12 declined on JSE
Pan Jam closed at $60 after gaining $1.19
The JSE Market Index gained 112.16 points to 98,382.51, theJSE All Jamaican Composite index rose 125.41 points to end at 108,714.51 and the JSE combined index declined by 12.53 points to close at 100,575.43.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 12 stocks with bids higher than their last selling prices and 13 with offers that were lower. 7 of the lower offers are in the junior market and 2 are preference shares, an indication that main market ordinary
shares strength remains fairly intact at this stage and may be one reason the main market indices, recorded gains at the end of trading.Trading included Berger Paints trading 5,000 shares to close with a loss of 40 cents at $2.60, Cable & Wireless ended with 438,117 shares at 46 cents, for a gain of 1 cent, Caribbean Cement slipped 4 cents with 48,850 shares trading, to close at $4.55, Carreras closed with 92,083 units trading at $49, by dropping $1. Desnoes & Geddes lost 44 cents in trading 5,000 shares in closing at $7.26, Grace Kennedy gained 35 cents with 9,905 units changing hands in closing at $62.50. Jamaica Stock Exchange slipped 15 cents with 43,700 shares trading at $3.35, JMMB Group had 73,345 shares trading with a gain of 44 cents to $8.89,
Margaritaville (Turks) ended with 100,000 shares trading at 10 US cents, Mayberry Investments traded just 1,020 units but lost 15 cents to end at $2.85. National Commercial Bank traded unchanged with 25,000 units at $30, Pan Jamaican traded only 1,700 shares to end with a gain of $1.19 at $60, Proven Investments closed with 17,700 units to gain almost a cent to 20.48 US cents. Radio Jamaica traded 50,000 shares unchanged at $2.58, Sagicor Group gained 50 cents in trading 135,347 units to close at $12, Scotia Group gained 36 cents with 2,190 shares trading, to end at $25.32. Scotia Investments traded only 176 units in gaining 35 cents to $25.85, Seprod lost 50 cents in trading 5,000 units at $17.50 and Supreme Ventures lost 30 cents with 10,727 units changing hands at $3.60.
NCB sells off $33.7M on Thursday
NCB sold off US$33m on Thursday
In US dollar trading, dealers bought US$30,929,977 compared to US$38,957,982 on Wednesday. The buying rate for the US dollar fell 3 cents to $115.69 and US$64,242,043 was sold versus US$42,974,812 on Wednesday, the selling rate increased by 1 cent to $116.12. The Canadian dollar buying rate declined 4 cents to $92.32 with dealers buying C$558,061 and selling C$564,155, at an average rate that fell 3 cents to $95.22.
The rate for buying the British Pound rose $1.74 to $179.61 for the purchase of £1,662,400, while £335,075, was sold, at an average rate that rose 96 cents to $180.83. At the end of trading it took J$128.92 to purchase the Euro, 25 cents less than on Wednesday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$126.55 for a fall of 9 cents on Wednesday’s rate. Other currencies bought, amounted to the equivalent of US$239,179, while the equivalent of US$227,937, was sold.Highs & Lows| The highest buying rate for the US dollar, rose 5 cents to $116.35. The lowest buying and the highest rates were unchanged at $94.98 and $121.71 respectively but the lowest selling rate added 21 cents to $94.98. The highest buying rate for the Canadian dollar rose 30 cents to $95.10.
The lowest buying rate remained unchanged at $75.36, the highest selling rate slipped 84 cents to $97.16 and the lowest selling rate fell $1.20 to $90.80. The highest buying rate for the British Pound, declined $1.60 to $181.90, the lowest buying rate closed unchanged at $144.63, the highest selling rate fell 94 cents to $185.51 with the lowest selling rate dropping $1.25 to $174.25.
Junior market set to slip more
Caribbean Cream was the only stock to rise on Thursday
The market seems set to fall on Friday with several stocks closing with lower asking prices than the last selling prices. At the close of the market, there were 3 stocks with bids higher than their last selling prices and 7 with lower offers. The junior market ended with 3 securities closing with no bids to buy 6 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, Caribbean Cream finishing with 8,500 units to close with a gain of 1 cent at $1.20 but ended with the offer at $1.15, to sell 130,000 units. Caribbean Producers with 93891 shares trading, closed lower by 15 cents at $3, Consolidated Bakeries finished trading with 3,334 shares to closed unchanged at $2.04, General Accident Insurance concluded trading with 2,000 shares changing hands to close 7 cents lower at $2. Lasco Distributors traded 219,108 shares at $1.65, Lasco Financial Services finished trading with 181,412 units at $1.31. There was dealing in 57,726 Lasco Manufacturing’s shares as the stock traded lower by 7 cent to $1.30.
Ansa Mcal TT$20M trade dominates
Trading on the Trinidad Stock Exchange closed with 9 securities changing hands of which 4 advanced, only 2 declined and 3 traded firm with a total of 619,796 units, valued at $21,385,138.
At the close of the market, the Composite Index rose 0.76 points to close at 1,160.25, the All T&T Index fell 0.08 points to close at 1,969.34 and the Cross Listed Index increased by 0.22 points to end at 46.08.
Gains| Stocks increasing in price at the close are, ANSA McAL closing with 300,000 shares changing hands for a value of $20,112,000, the price gained 2 cents to $64.04, National Commercial Bank gaining 3 cents to end at a new 52 weeks’ high of $1.68 after trading 2,000 shares. Sagicor Financial Corporation traded 1,000 shares to close with a gain of 1 cent at $6.01 and West Indian Tobacco traded 514 shares to close 1 cents higher at $125.28.
Declines|The stocks declining at the end of trading are, Massy Holdings traded 2,362 shares to close with the loss of 1 cent at $64 and Trinidad Cement with a volume of 263,622 shares being traded for $725,128 but lost 2 cents to close at $2.75.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, Firstcaribbean International Bank added 10,450 shares to closed unchanged at $5.03, First Citizens Bank traded 2,556 shares to close at $35.80 and Flavorite Foods contributed 37,292 shares with a value of $179,001,to close unchanged at $4.80.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator shows 3 stocks with the bid higher than their last selling prices and 2 stocks with offers that were lower.
FX demand rises J$ falters Wednesday
Demand for foreign currency climbed on Wednesday with US$43 million being purchased by the public and resulted in a slight decline for the Jamaican dollar against all the three main currencies the Jamaican dollar usually trades against. The purchase of all currencies by dealers amounted to the equivalent of US$40,851,340 compared with US$25,499,013, on Tuesday and selling, the equivalent of US$44,427,944 versus sale of US$29,260,764, previously.
In US dollar trading, dealers bought US$38,957,982 compared to US$24,763,312 on Tuesday. The buying rate for the US dollar rose 18 cents to $115.72 and US$42,974,812 was sold versus US$23,550,793 on Tuesday, the selling rate increased by 3 cents to $116.11. The Canadian dollar buying rate declined 88 cents to $92.36 with dealers buying C$466,971 and selling C$524,583, at an average rate that rose 38 cents to $95.25. 
The rate for buying the British Pound fell 59 cents to $177.87 for the purchase of £931,844, while £623,692, was sold, at an average rate that rose 5 cents to $179.87. At the end of trading it took J$129.17 to purchase the Euro, $2.78 less than on Tuesday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$126.64 for a fall of $3 on Tuesday’s rate. Other currencies bought, amounted to the equivalent of US$88,288, while the equivalent of US$56,655, was sold.
Highs & Lows| The highest buying rate for the US dollar, rose 8 cents to $116.30. The lowest buying, the highest and the lowest selling rates were unchanged at $94.98, $121.71 and $94.77 respectively. 
The highest buying rate for the Canadian dollar fell 50 cents to $94.80. The lowest buying rate was down 67 cents to $75.36, the highest selling rate slipped $1.10 to $98 and the lowest selling rate rose 70 cents to $92. The highest buying rate for the British Pound, declined $1.50 to $180.30, the lowest buying rate dropped $1.45 to $144.63, the highest selling rate climbed $2.30 to $186.45 with the lowest selling rate being unchanged at $175.50.
20 stock gained 8 declined on JSE
Berger closed at a 52 weeks’ high of $3 on Wednesday
The JSE Market Index lost just 78.06 points to 98,270.35, the JSE All Jamaican Composite index declined 87.29 points to close at 108,589.10 and the JSE combined index dropped by 142.03 points to close at 100,587.96.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows stocks with bids higher than their last selling prices and with offers that were lower.
The stocks trading in the main market at new 52 weeks’ high, are, Berger Paints, Caribbean Cement, Desnoes & Geddes, Jamaica Broilers, Jamaica Producers, and Sagicor Real Estate Fund.In trading, Berger Paints traded between $2.58 and the closing price of $3 with 80,658 shares and ended with an increase of 45 cents, Cable & Wireless had 806,875 shares trading between 42 cents and 47 cents, to close at 45 cents, with a loss of 2 cents from Tuesday’s last price. Caribbean Cement traded 1,477,569 shares between $5.50 and the final price of $5.30 to gain 30 cents, Carreras traded just 2,871 units with a gain of $1 to close at $50. Desnoes & Geddes traded 197,238 shares at $7.70 at the end, by putting on 45 cents. Grace Kennedy posted 25,988 units but lost $1.40, to end at $62.15. Jamaica Broilers put through 136,039 units and closed at $5.50, 1 cents higher than on Tuesday.
Jamaica Producers traded at $20 with a gain of $1.45 with 3,303 shares changing hands, JMMB Group lost $1.04 in trading 81,226 shares at $8.45, Mayberry Investments had 280,022 shares changing hands at $3.10 after trading at $2.85 and added 10 cents at the close. National Commercial Bank had 136,390 units with all trading at $30. Sagicor Group closed at $11.50 with 820,961 shares trading 49 cents down at the close, Sagicor Real Estate Fund had 5,880 units trading at a new high of $8 to gain 80 cents. Scotia Group traded 104,903 shares at $25.01, Proven Investments 93,007 shares at 19.5 US cents as the price slipped 1 US cent, Jamaica Money Market Brokers 7.50% preference share traded 145,200 units at $2.40 and Jamaica Money Market Brokers 8.75% preference share traded 199,980 units at 3.05.
