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Junior market slips

May 19, 2015 by IC Insider.com

Derrimon is 1 of just 2 stocks gaining in the junior market on Tuesday

The Junior market slipped on Tuesday and it appears the May bug is hitting as some investors take profit and go away, but the reading of this market suggest that the rally may not be over so soon. Trading was fairly broad based on the Junior market with 12 securities trading, ending with 1,821,705 units changing hands valued at $5,472,000. The JSE Junior Market Index declined 13.58 points to close at 883.22, with the price of just 2 stocks advancing and 7 declining with Cargo Handlers closing at 52 weeks’ high.
At the close of the market, there were 5 stocks with bids higher than their last selling prices and only 1 with a lower offer. The junior market ended with 2 securities closing with no bids to buy and 6 securities that had no stocks being offered for sale.
Access Financial traded 22,300 shares at $17.02 after falling 98 cents, Blue Power closed with 18,000 shares trading at $9.80, Cargo Handlers finished with 83,555 units to close with a gain of 20 cents to a new all-time high of $22.28, Caribbean Cream with 113,591 shares closed at $1.05 after losing 15 cents, Caribbean Producers with 233,489 shares closed at $3 to shed 7 cents, Dolphin Cove had just 300 shares trading to close at $10.75, for a fall of 27 cents, Derrimon Trading Company closed with 12,000 units trading at $2.08, up 4 cents as the company reported improved results for the march quarter with Net profit of $20.5 million compared with profit of $11.2 million in 2014.

General Accident Insurance traded 212,352 units to close at $2 after shedding 18 cents in response to poor first quarter results. Knutsford Express had only 1,000 shares changing hands at $6, Lasco Distributors ended with 1,024,375 shares trading at $1.55, for a 10 cents loss, Lasco Financial traded just 93,857 units at $1.30 with a loss of 1 cent and Lasco Manufacturing traded 6,886 units unchanged at $1.40.

Filed Under: JSE Junior Market, Stock Market Tagged With: Cargo Handlers, Caribbean Producers (CPJ), Daily Trading, Derrimon Trading, Dolphin Cove, General Accident, JSE Company, Lasco, Lasco Distributors, Lasco Financial Services, Lasco Manufacturing

2 stocks gained 3 fell on TTSE

May 19, 2015 by IC Insider.com

Trading on the Trinidad Stock Exchange ended with 11 securities changing hands, 2 advanced, 3 declined and 6 traded firm with a total of 195,810 units, valued at $1,518,628.
At the close of the market, the Composite Index declined by 0.12 points to close at 1,160.25, the All T&T Index fell 0.44 points to close at 1,970.94 and the Cross Listed Index increased by a mere 0.02 points to end at 45.86.
Gains| Stocks increasing in price at the close are, First Citizens Bank trading 7,313 shares with a value of $261,826, ended 1 cent higher at $35.81 and Grace Kennedy traded 139,792 shares changing hands for a value of $497,660 and gained 3 cents to close at $3.56.
Declines| Clico Investment Fund closed at $22.50 after slipping 5 cents with 3,680 shares trading, Guardian Holdings trade 4,000 units but lost 1 cent in closing at $14.19 and Trinidad Cement suffered a loss of 5 cents to close at $2.75 while trading 29,833 shares.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, Agostini’s with 160 shares trading and closing at $17.25, Ansa Merchant Bank with 4,150 shares trading valued at $161,486, closed at $38.91, JMMB Group with 1,000 shares changing hands, closed unchanged at 55 cents. Massy Holdings ended at $64, while trading 5,771 shares valued at $369,344, National Enterprises traded 96 units to close at $17.30 and Republic Bank contributing just 15 shares remained at $115.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with the bid higher than their last selling prices and 1 with the offer that is lower.

Filed Under: Stock Market, TTSE Market Tagged With: Agostini's, Ansa Merchant Bank, clico, Daily Trading, First Citizens, Grace Kennedy, Guardian Holdings, JMMB, Massy Holdings, National Enterprises, Republic Bank, Trinidad Cement, TTSE

Cargo Handlers a nice income generator

May 19, 2015 by IC Insider.com

Cargo Handlers stock has passed the $22 mark but could well go higher based on the earnings being generated. For the six months to March the Montego Bay based company racked up profit of $78.6 million, 52 percent higher than in 2014 and $38.47 million, up by 48.4 percent over the similar quarter of 2014.
The good net income came from operating revenues that were up 29.8 percent in the quarter to 62.7 million and 126.2 million in the six months an increase of 29.5 percent. Expenses were kept well below revenues growth at $26.16 for the quarter versus $22.5 million and for the year to date $49.3 million compared with $48 million.
Earnings per share for the quarter is 92 cents and $1.89 for the six months, the company is well on its way to rake in $4 per share for the year ending September.
The company had cash funds of $138 million at the end of March owes very little to creditors with an equity base of $231 million.
The company is primarily involved in stevedoring services and haulage of fuel and the shares trade on the junior market of the Jamaica Stock Exchange and has gained 39 percent since the start of the year.
The company paid an interim dividend per share of $1.25 on March 11, 2015 and $1.30 on September 16, 2014.

Filed Under: Buy Rated, Company News, Company Results Tagged With: Cargo Handlers, junior market

ANSA Merchant Bank profit up 70%

May 19, 2015 by IC Insider.com

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ANSA Merchant Bank and its subsidiaries reported a 70 percent increase in profit for the first quarter to March this year, compared to the first quarter of 2014. The quarter ended with consolidated operating profit of $53.8 million versus $31.6 million for the similar 2014 quarter and resulted in earnings of 50 cents per share, up from 26 cents in 2014. In 2014 the group reported earnings of $2.43 per share for the twelve months but should exceed that level in 2015.
The stock is listed on the Trinidad & Tobago Stock Exchange and last traded at $38.91, with a PE of 16 based on 2014 results and less, based on what the latest numbers are suggesting, in terms of full year profit for 2015. Examination of the 2013 and 2014 results, show no clear pattern of consistency quarter over quarter for earnings, but the last quarter of the year appears to be one in which profit tends to exceed $1.20 per shares, accordingly, the 2015 earnings could be around $3 per share and if achieved would result in a PE of 13.
The Banking segment produced earnings before tax of $33 million for the first quarter representing a 5 percent increase over the first quarter of 2014. Mutual Funds performed better in the reported quarter compared to 2014 with a small profit of $949,000 versus an $8 million loss, in 2014. The general insurance business produced net earnings of $22.7 million in the quarter, a 47 percent increase over the prior year. The life insurance business experienced a loss in of $2.2 million but an improvement over the loss of $7.2 million in the similar quarter of 2014.
Revenues climbed 21.3 percent to reach $172 million while expenses rose by a more sedate 7.3 percent to hit $118.3 million and helping to push up the profits
The equity capital stood at $1.9 billion at the end of March and total assets of $6.7 billion. ANSA McAl a Trinidad Company owns 82.48 percent of ANSA Marchant Bank group.

Filed Under: Buy Rated, Company News, Company Results Tagged With: Ansa Mcal, Trinidad&tTobago Stock Exchnage

J$ stable vs US Monday

May 18, 2015 by IC Insider.com

On Monday, the Jamaican dollar held firm against the US dollar, gained on the British pound and the Canadian dollar, as purchases of all currencies by dealers amounted to the equivalent of US$81,922,835 compared with US$29,862,314, on Friday and selling of the equivalent of US$75,530,417 versus sale of US$29,000,152, previously.
In US dollar trading, dealers bought US$79,149,402 compared to US$26,604,631 on Friday. The buying rate for the US dollar rose 25 cents to $115.82 and US$73,608,891 was sold versus US$27,054,347 on Friday, the selling rate was unchanged at $116.10. The Canadian dollar buying rate slipped $1.43 to $93.17 with dealers buying C$979,814 and selling C$901,592, at an average rate that declined 15 cents to $96.46. The rate for buying the British Pound fell $1.67 to $178.86 for the purchase of £1,199,567, while £653,972, was sold, at an average rate that slipped 35 cents to $182.20. At the end of trading it took J$132.83 to purchase the Euro, 78 cents more than on Friday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$130.25 for an increase of 81 cents on Friday’s rate. Other currencies bought, amounted to the equivalent of US$132,792, while the equivalent of US$146,183, was sold.
Highs & Lows| The highest buying rate for the US dollar, declined 34 cents to $116.16. The lowest buying rate declined $2.47 to $92.30, the highest selling rate rose 27 cents to $121.71, while the lowest selling rate rose 21 cents to $94.98. The highest buying rate for the Canadian dollar fell $1.20 to $96.30. The lowest buying rate was down 58 cents to $76.40, the highest selling rate remained at $99.24 and the lowest selling rate fell 70 cents to $92.05. The highest buying rate for the British Pound, declined 75 cents to $182.50, the lowest buying rate gained 20 cents to $146.70, the highest selling rate climbed $3.58 to $189.12 with the lowest selling rate remaining at $174.30.

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

JSE Markets up pace slowing

May 18, 2015 by IC Insider.com

Grace fell $1 after reporting a decline in Q1 profits

The main market indices of the Jamaica Stock Exchange recorded another day of gains on Monday, but the current run up for the main market, may be peaking, until the summer months. With the latest inflation number being very tame, the stage may be set for another round of lower interest rates that could ignite the market again before long.
Activity on the Jamaica Stock Exchange, resulted in the prices of 15 stocks rising, including 8 new 52 weeks’ high, 7 declining as 35 securities changed hands, ending in 4,079,019 units trading, valued at $46,667,393, in all market segments. The JSE Market Index gained 295.86 points to 99,287.96, the JSE All Jamaican Composite index rose 330.79 points to close at 109,726.84 and the JSE combined index gained/ put on 321.05 points to close at 101,740.07. Stocks closing at new 52 weeks’ highs, in the main market are, Berger Paints, Desnoes and Geddes, Caribbean Cement, Jamaica Broilers and Radio Jamaica.

IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 9 stocks with bids higher than their last selling prices and 3 with offers that were lower.
Stocks trading include, Berger Paints ended trading with 81,477 shares changing hands to close 20 cents higher at $2.55, Caribbean Cement closed with 240,866 shares trading, 89 cents higher, at $5.10, Carreras finished trading with 20,385 shares and lost 35 cents to close at $49, Desnoes & Geddes saw trading in 31,000 shares trading 5 cents higher at $7.25. Gleaner closed with 170,739 units trading, with the price unchanged at $1, Grace Kennedy finished trading with 42,032 shares and fell $1 to close at $63.50. Jamaica Stock Exchange concluded trading with 25,000 units trading with the last price unchanged at $3.50, JMMB Group completed trading in 11,506 shares changing hands and jumped $50 cents at $10,the stock closed with an offer at $9.49, Kingston Wharves had dealing in 34,221 units traded at 6 cents up to $6.26.

Mayberry Investments contributed 93,828 units to trading and close unchanged at $3, National Commercial Bank ended trading with 52,070 shares changing hands to close down by 50 cents at $30 and based on today’s trading which saw the bid that was at $30 for several days, to buy an undisclosed amount being pulled, it looks as if the price could fall back below $30, Radio Jamaica closed with 100,000 shares trading at $2.48 after adding 8 cents, Sagicor Group finished trading with 1,127,037 units but remained unchanged at $12, after it trading during the day at $11. Scotia Group ended trading 72,725 units to close 14 cents higher, at $25.30, Scotia Investments closed with 2,300 shares, 75 cents up at $25.50. Jamaica Money Market Brokers 8.75% preference share finished trading with 153,398 units changing hands to close 2 cents higher at $3.02 and Proven Investments 8% preference shares saw trading in 26,805 units with the price ending unchanged at $5, after gaining 50 cents earlier in the day before falling back.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: Berger Paints, Caribbean Cement, Carreras, Desnoes & Geddes, Gleaner, Grace Kennedy, Jamaica Money Market Brokers 8.75%, Jamaica Stock Exchange, JMMB Group, Kingston Wharves, Mayberry Investments, National Commercial Bank, Proven Investments 8%, Radio Jamaica, Sagicor Group, Scotia Group, Scotia Investments

Jamaica’s 2015 inflation remains tame

May 18, 2015 by IC Insider.com

The inflation rate, increased by a mere 0.2 percent in April 2015 while the year-to-date inflation rate for April 2015 is minus 0.5 percent, the point-to-point 4.4 percent.
Statin said the lower increase for April is due mainly to upward movements in the index for the divisions of Food and Non-Alcoholic Beverages 0.5 percent, Alcoholic Beverages and Tobacco 1.3 percent and Transport 1.1 percent. The fall in prices the group Electricity, Gas and Other Fuels’ which fell by 4.6 percent. This resulted mainly from lower fuel rates, as well as an appreciation of the Jamaican dollar.
The calendar The other divisions that recorded increases in the All Jamaica ‘All Divisions’ index were: ‘Clothing and Footwear’ 0.4 percent, ‘Furnishings, Household Equipment and Routine Household Maintenance’ 0.4 percent, ‘Health’ 0.2 percent, percent, ‘Recreation and Culture’ 0.3 percent, ‘Restaurants and Accommodation Services’ 0.2 percent, and ‘Miscellaneous Goods and Services’ 0.3 percent.

Filed Under: Breaking News, Economy Tagged With: Inflation in Jamaica, jamaican dollar, Statistical Institute of Jamaica

Access now 1,000% of IPO price

May 18, 2015 by IC Insider.com

General Accident closed at 52 weeks high on Monday but the company reported a decline of 74% in profits to hit $26m in Q1.

The Junior market closed at a new record to start off the week with 13 securities trading, with the price of stocks advancing and declining and closing at 52 weeks’ high. the most for some time, and ended with 1,683,746 units changing hands valued at $22,509,881 with Access Financial accounting for the bulk of the trade with Mayberry Investments selling 1,257,938 at a new high of $18, valued $21,452,426.
In closing at $18, Access is back at the IPO price before a ten for 1 spilt putting at the equivalent of $180 had the split not take place no other stock has performed so well on the Jamaica stock market in recent time. The stock was issued at $18 per share, making those who held on to see a 900 percent gain on their investment, plus dividends to add to the gains and the company is yet to stop growing.
The JSE Junior Market Index gained 4.60 points to close at a new all-time high of 896.80 and with 3 stocks closing at 52 weeks’ high. At the close of the market, there were 5 stocks with bids higher than their last selling prices and only 1 with a lower offer. The junior market ended with 3 securities closing with no bids to buy and 11 securities that had no stocks being offered for sale.
Other stocks trading in the junior market are, AMG Packaging ending with 27,885 shares changing hands ,to close at $3.25, Blue Power Group closed with 979 shares trading at $9.80, Caribbean Cream finished with 100,000 units to close at $1.20, Caribbean Producers with 32,000 shares trading, closed lower by 3 cents at $3.07. Consolidated Bakeries had 2,429 shares changing hands at $1, Dolphin Cove traded 3,525 shares with the price rising 27 cents, to a 52 weeks’ high of $11.02. <a href="http://icinsider.com/profit-up-at-general-accident-but-just/" title="Profit up at

General Accident but just”>General Accident Insurance concluded trading with 25,400 shares changing hands to close 10 cents higher at a 52 weeks’ high of $2.18, Honey Bun ended trading with 4,586 shares to end with a rise of 1 cent at $2.51. Jamaican Teas traded 194,500 at $3, Lasco Distributors traded 1,100 shares unchanged at $1.65, Lasco Financial Services finished trading with 15,000 units, the price remained at $1.31 and there was dealing in 18,304 Lasco Manufacturing’s shares as the stock traded lower by 5 cents at $1.40.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: AMG Packaging, Blue Power Group, Caribbean Producers (CPJ), Consolidated Bakeries, Daily Trading, Dolphin Cove, General Accident, General Accident Insurance, Honey Bun, Jamaican Stock, Jamaican Teas, Lasco Distributors, Lasco Financial Services, Lasco Manufacturing

15 stocks trade 3 advance on TTSE

May 18, 2015 by IC Insider.com

IC Insider Buy Rated NFM closed at a new 52 weeks high on Monday

Trading on the Trinidad Stock Exchange was with 15 securities changing hands of which 3 advanced, none declined and 12 traded firm with a total of 501,858 units, valued at $3,713,703.
At the close of the market, the Composite Index rose 0.75 points to close at 1,160.37, the All T&T Index rose by just 0.52 points to close at 1,971.3 and the Cross Listed Index increased by a mere 0.13 points to end at 45.84.
Gains| Stocks increasing in price at the close are, National Flour traded 9,352 shares to close with a gain of 3 cents to close at a 52 weeks’ high of $1.73. Point Lisas Port Development gained 8 cents to end at $3.77 with just 198 units changing hands, and West Indian Tobacco trading with 2,799 share with a value of $350,575 changing hands, added 3 cents to the price in closing at $125.25.

Witco was one of the stocks rising on Monday

Firm Trades| Stocks closing with prices unchanged at the end of trading are, ANSA Mcal with 4,018 shares trading valued at $269,286, ended at $67.02, Clico Investment Fund closed at $22.55 with 43,210 shares trading valued at $974,414. Firstcaribbean International Bank contributing 6,563 shares, the price closed unchanged at $5.03, First Citizens Bank trading 2,121 shares to close at $35.80, Grace Kennedy traded 950 shares at $3.53. JMMB Group with 356,375 shares changing hands for a value of $196,006, closed unchanged at 55 cents, Massy Holdings ended at

$64, while trading 1,758 shares, National Commercial Bank added 10,587 shares to end at $1.65. National Enterprises traded 3,439 units to close at $17.30 followed by Republic Bank, contributing 11,120 shares with a value of $1,278,800, but remained at $115, while Sagicor Financial Corporation with 48,873 shares being traded for $293,235 ended at $6 and Unilever Caribbean with 495 shares trading, closed at $66.14.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator showed 2 stocks with the bids higher than their last selling prices and 2 stocks with offers that were lower.

Filed Under: Stock Market, TTSE Market Tagged With: Ansa Mcal, clico, Daily Trading, First Citizens, Firstcaribbean International Bank, Grace Kennedy, JMMB, Massy Holdings, National Enterprises, National Flour, NCB, Point Lisas Port Development, Republic Bank, TTSE, Unilever Caribbean, West Indian Tobacco

Slow Monday morning session

May 18, 2015 by IC Insider.com

Stocks are off to a cautious trading in with few major price changes. The most significant price change is Scotia Group with a price of $25.90 up from $25.16 on Friday.
Caribbean Cement traded 227,030 at $5 compared with a close of $4.21 on Friday. Sagicor Group traded 727,037 units and the price slipped to $11 from$12 on Friday. Proven Investments 8% preference share traded 8,000 and gained 50 cents to $5.50. Interest in National Commercial Bank has slowed with the bid in to buy 100,860 at $28.20 compared with the last sale of 52,070 units at $30. Twenty six stocks have traded so far with ten from the junior market. Caribbean Cream trading 100,000 units at $1.20, Jamaican Teas 194,500 shares at $3 after languishing at $2.55 for a long time.