Trading on the Trinidad Stock Exchange ended with 11 securities changing hands, 6 advanced, none declined and 5 traded firm, with a total of 223,324 units, valued at $8,904,407.
At the close of the market, the Composite Index advanced by 0.34 points to close at 1,154.79, the All T&T Index fell by just 0.11 points to close at 1,968.43 and the Cross Listed Index increased by 0.11 points to end at 44.74.
Gains| Stocks increasing in price at the close are, Firstcaribbean International Bank ended trading with 937 shares but added 2 cents to close at $5.03, First Citizens Bank traded 2,165 shares to close 5 cents higher at $35.85, Grace Kennedy contributed 18,691 shares, to end with a gain of 3 cents at $3.5. Guardian Holdings with 37,409 shares traded for a value of $531,322, gained 5 cents to end the day at $14.25, Massy Holdings had 76,650 shares changing hands for a value of $4,871,107 to end 6 cents higher at $63.55 and Unilever traded 3,314 shares and gained 2 cents in closing at a new 52 weeks’ high of $66.11.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, Angostura Holdings with 6,099 units at $13.90, Clico Investment Fund ended with 60,533 shares trading, valued at $1,368,305 but remained at $22.60. One Caribbean Media ended with just 60 shares changing hands at $22.30, Republic Bank added 14,539 shares valued at $1,671,985 to close at $115 and Trinidad Cement ended up with 2,927 units at $2.80.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 6 stocks with the bid higher than their last selling prices and 1 with a lower offer.
6 stocks eke out gains on TTSE
21 stocks fell 9 rose & 4 new highs
Mayberry traded 2.7 million shares to close at $2.88.
The number of securities trading on Thursday is by far the largest, since IC Insider has been reporting from 2013. At the close, JSE Market Index gained 404.52 points to 99,499.43, the JSE All Jamaican Composite index rose 452.29 points to close at 109,963.28, after trading over 110,000 points during the day and the JSE combined index gained 356.44 points to close at 101,656.34.
There were 4 stocks closing at 52 weeks’ high in the entire market.IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 8 stocks with bids higher than their last selling prices and 5 with offers that were lower.
Stocks trading include, Barita Investments closed trading with 151,783 shares to end 11 cents lower at $2.26, Berger Paints had 9,858 shares trading with a gain of 8 cents to a 52 weeks’ high of $2.08, Cable & Wireless lost altitude by dropping 2 cents in trading 723,882 units, to end at 46 cents. Caribbean Cement trading 315,244 shares with the price falling to $4.20 rising back to $5, Desnoes & Geddes closed at $7.10 with 15,300 units trading, Grace Kennedy traded 106,525 shares to close down by 50 cents at $64.50 after trading as high as $65.25. The stock is unlikely to get any help in trading for the next few days as they reported lower profits in the March quarter with profit of $589 million versus $833 million in 2014. Hardware & Lumber traded just 1,750 shares to lose 25 cents to $10.75, Mayberry Investments traded 2,735,521 units up $3 but fell back to closed at $2.88, All the Mayberry shares were purchased through Mayberry Investments,
with JMMB Securities virtually all units with most being sold from JMMB inventory and bought by Mayberry for in house purposes. National Commercial Bank closed with a 51 cents loss with 92,298 shares trading to close at $30.50, Sagicor Group had just 14,630 shares trading at $12.15. Sagicor Real Estate Fund gained 68 cents with 9,427 shares trading, to end at $7.28, following first quarter report showing a big jump in profit to $570 million, from $242 million, in 2014, as the acquisition of a hotel in Montego Bay pumped up revenues and profit in the quarter, in the best period for income in the hotel sector. Salada Foods gained 25 cents with just 2,672 shares trading at $9.25, Scotia Investments ended shedding 25 cents while trading 2,150 shares to end at $24.75, Seprod ended with 120,515shares trading at $18.25 and Proven Investments had 5,000 shares trading to close at an all-time high of 21.25 US cents.
J$ slips against all on Thursday
On Thursday, the Jamaican dollar slipped against the US dollar, British pound and Canadian dollar, as purchases of all currencies by dealers amounted to the equivalent of US$32,964,911 compared with US$29,494,214, on Wednesday and selling of the equivalent of US$27,642,328 versus sale of US$33,928,300, previously.
In US dollar trading, dealers bought US$28,792,177 compared to US$27,139,403 on Wednesday. The buying rate for the US dollar rose 5 cents to $115.47 and US$26,502,659 was sold versus US$31,570,143 on Wednesday, the selling rate was up 6 cents to $116.03. The Canadian dollar buying rate climbed 42 cents to $94.69 with dealers buying C$1,327,786 and selling C$713,715, at an average rate that rose 37 cents to $97.28. The rate for buying the British Pound fell 95 cents to $179.08 for the purchase of £1,915,229, while £310,883, was sold, at an average rate that rose 75 cents to $181.88. 
At the end of trading it took J$131.66 to purchase the Euro, $1.29 more than on Wednesday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.06 for an increase of $1.15 on Wednesday’s rate. Other currencies bought, amounted to the equivalent of US$130,163, while the equivalent of US$53,985, was sold.
Highs & Lows| The highest buying rate for the US dollar, rose 6 cents to $116.31. The lowest buying rate was unchanged at $94.77 and highest selling rate fell $4.46 to $121.44, while the lowest selling rate dropped $18.53 to $94.77 The highest buying rate for the Canadian dollar slipped 10 cents to $96.95. 
The lowest buying rate was up 42 cents to $76.78, the highest selling rate rose just 5 cents to $99.12 and the lowest selling rate declined by $1 to $91. The highest buying rate for the British Pound, rose 5 cents to $182.65, the lowest buying rate gained 33 cents to $146.08, the highest selling rate fell $1.41 to $186.48 with the lowest selling rate falling 44 cents to $173.56.
One broker pulled juniors down
Mayberry sold small volumes several individual stocks with less than two minutes to close, pulling the prices down.
The JSE Junior Market Index declined 2.59 points to close at 866.40, with the price of only 3 stocks advancing and 8 declining and 2 closing at 52 weeks’ high as Mayberry intervened with less than 2 minutes to close by selling a series of small amounts to push several junior market stock prices down.
For most of the day until after 12 noon, the index for the junior market was in record territory to an all-time high. In early morning session junior stocks had put on 13.39 points to 882.38 points a then record. Several very small trades executed on the sell side by Mayberry Investments at 12.52 pm pushed the prices of several stocks down.
Access closed at an all time high of $17 but with only 200 shares purchased by MIL for in house purposes from JMMB
At the close of the market, there were 3 stocks with bids higher than their last selling prices and 3 with lower offers. The junior market ended with 4 securities closing with no bids to buy and 7 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, Access Financial trading at a new 52 weeks high of $17, but with just 200 units changing hands to gain $1.90, AMG Packaging ended with 2,115 shares changing hands, to close 5 cents lower, at $3.25. Blue Power traded 979 units to close with a gain of 99 cents at $9.80, to close at a 52 weeks’ high, Cargo Handlers finished with 5,000 units to close unchanged at $22.08, Caribbean Producers ended trading with 16,489 shares trading at $2.88. Consolidated Bakeries traded 968,369 units at $1 as the company reported first quarter results showing profit more than doubling from $4.6 million to $13.9 million.
General Accident Insurance concluded trading with 104,533 shares changing hands to close 7 cents lower at $2.08. Honey Bun had just one trade of a mere 2,729 shares with the price falling 40 cents, to $2.50, Jamaican Teas closed trading with 2,170 units and lost 25 cents to $2.65, Lasco Distributors traded 89,880 shares and dropped 20 cents to $1.50, Lasco Financial Services finished trading with 62,331 units, the price slipped 10 cents to $1.35. There was dealing in 9,629 Lasco Manufacturing’s shares as the stock traded lower by 1 cent to $1.34, Paramount Trading ended trading with 102,543 shares to end with an a fall of 28 cents at $3.71 and Derrimon Trading preference share finished traded just 1,000 shares to closed end up 25 cents at $2.25.
JSE over 110K, juniors new high Thursday
Jamaican stocks prices are still cruising on a high with the junior market 
hitting new high for the fourth day in a row and the main market continuing to move away from resistance heading towards 115,000 point.
The next major level to cross with the all Jamaica Composite index having passed the 110,000 mark as it gained 611.62 to sit at 110,122.61 after an hours trading. The junior market index is at an all-time high of 882.38 points having put on 13.39 in the early morning session.
The junior market has so far traded 9 securities and the main market 14 securities trading and resulted in 3.85 million units changing hands. A total of 7 stocks rose in price and 8 declined so far.
The notable trades so far are Caribbean Cement trading 232,500 shares with the price rising back to $5, Grace Kennedy trading 93,525 units at $65.25, Mayberry Investments with 2,734,501 units up $3 but now is back at $2.79, Seprod with 101,474 at $18.25. All the Mayberry shares were purchased through Mayberry Investments, with JMMB Securities virtually all except for 1,900 units with most being sold from JMMB inventory and bought by Mayberry for their in house purposes.
NCB insiders buy up shares
National Commercial Bank (NCB) advised the Jamaica Stock Exchange that a party connected to three directors purchased 552,790 of the group’s shares on May 7, another amount of 77,886 shares on May 8 and 843,924 on May 11.
NCB posted improved results in its latest quarterly report which shows a 7 percent increase in profits to $3.27 million over the similar quarter in 2014 and profits of $5.4 million for the six months to March. The stock which closed at a 4 1/2 year high of $31.10 on Wednesday, has gained 82 percent since bottoming out last year summer, at $17.
The purchases come amidst reports that NCB is slated to pick up a large block of Guardian Holdings shares. Insiders may not have stopped buying as NCB Capital Markets still a bid for an undisclosed amount at $30.
Salada makes big recovery
Salada Foods reported recovery in profit in the March quarter, from increased sales of 78 percent, to hit $220 million, from a disastrous March 2014 quarter with sales of only $124 million.
The recovery is also from a very poor first quarter when a small loss was incurred. For the half year, the company reports profit of just $28.4 million from sales of $354.6 million. The company is reporting strong growth in exports for the year to date. Exports now accounts for 30 percent of sales compared to 18.4 percent in 2014, the company reported in its release with the financial data.
In 2014, sales amounted to $251.6 million, with profit of $28 million after tax. Profit for the March quarter amounted $29 million up from $9 million in 2014. Losses increased in the subsidiaries that in 2012 acquired Roberts’ brands and now processes products under that name, with minority shareholders picking up $3.2 million of the losses in 2015 versus $1 million in 2014 for the quarter and $5.2 million and $2 million for the six month’s respectively. Earnings per share ended at 31 cents for the quarter and 32 cents for the six months. 
Receivables which stood at $283 million is now down at $146 million but inventories shot up to $409 million from $227 million at September last year. Cash is now at $95 million and increase over September’s $75 million.
Salada produces the Mountain Peak coffee but also manufactures and sells a variety of beverage based products as well as jello and some other consumer products. The stock is listed on the Jamaica Stock Exchange and last traded at $9 and is one of the few stocks not to have participated in the ongoing market rally.
J$ declines on Wednesday
On Wednesday, the Jamaican dollar slipped slightly against the US dollar and aggressively against the British pound and Canadian dollar, as purchases of all currencies by dealers amounted to the equivalent of US$29,494,214 compared with US$37,319,246, on Tuesday and selling of the equivalent of US$33,928,300 versus sale of US$36,844,761, previously.
In US dollar trading, dealers bought US$27,139,403 compared to US$32,364,099 on Tuesday. The buying rate for the US dollar fell 4 cents to $115.42 and US31,570,143 was sold versus US$33,685,585 on Tuesday, the selling rate was up 5 cents to $115.97. The Canadian dollar buying rate declined 93 cents to $94.27 with dealers buying C$711,704 and selling C$646,108, at an average rate that rose $1.06 to $96.91. 
The rate for buying the British Pound increased $1.27 to $179.03 for the purchase of £1,032,769, while £754,408, was sold, at an average rate that rose $98 cents to $181.13. At the end of trading it took J$130.37 to purchase the Euro, $1.17 more than on Tuesday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$127.91 for an increase of $1.19 on Tuesday’s rate. Other currencies bought, amounted to the equivalent of US$171,509, while the equivalent of US$639,991, was sold.
Highs & Lows| The highest buying rate for the US dollar, rose 13 cents to $116.25. The lowest buying rate added $4.27 to $94.77 and highest selling rate increased $4.46 to $125.90, while the lowest selling rate jumped $18.69 to $113.30. 
The highest buying rate for the Canadian dollar rose 40 cents to $97.05. The lowest buying rate was up 50 cents to $76.36, the highest selling rate rose 93 cents $99.07 and the lowest selling rate climbed 30 cents to $92. The highest buying rate for the British Pound, climbed 60 cents to $182.60, the lowest buying rate gained $4.65 to $145.75, the highest selling rate rose $2.50 to $187.89 with the lowest selling rate rising 50 cents to $174.
Juniors closed at new high
At the end of trading on Wednesday the Junior Market index had its third consecutive day of rising prices, to end at a new record of 868.99, at 8.03 points ahead of Tuesday’s record close. With 10 securities trading, the market ended with 707,451 units changing hands valued at $2,938,261. The JSE Junior Market close with the price of 5 stocks advancing and 1 declining including 1 closing at a 52 weeks’ high.
At the close, there were 3 stocks with bids higher than their last selling prices and only 1 with a lower offer, this is an early sign that investors may be cooling their aggressive stance in picking up stocks. The junior market ended with 3 securities closing with no bids to buy and 7 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, Cargo Handlers having 10,000 shares trading to close at $22.08, Caribbean Cream closed with 1,495,613 shares trading at $1.05, Caribbean Producers with 147,200 shares trading at $2.88, General Accident Insurance concluded trading with 86,000 shares changing hands to close 10 cents higher at a new 
52 weeks’ high of $2.15. Honey Bun ended with 10,800 shares changing hands to close higher by 20 cents at $2.90, Jamaican Teas ended trading with 5,000 shares after adding 15 cents to end at $2.90, Lasco Distributors finished trading with 11,219 shares to closed at $1.70, Lasco Financial Services finished trading with 89,336 units, the price rose 8 cents to $1.45. There was dealing in 212,781 Lasco Manufacturing’s shares, the stock traded lower by 5 cents to $1.35 and Medical Disposables contributed 31,415 shares with the price remaining unchanged at $1.80.
JSE cooled but 16 stocks still rise
NCB gained $1.01 to close at a new 41/2 years’ high of $31.01
The JSE Market Index declined 29.63 points to 99,094.91, the JSE All Jamaican Composite index fell 33.14 points to close at 109,510.99 and the JSE combined index gained 49.81 points to close at 101,299.90, the latter due to the rise of junior market stocks.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 8 stocks with bids higher than their last selling prices and 2 with offers that were lower. This reading is well down from the double digits bids being higher for several days and may be an indication that price gains going forward for now may be cooling, that is the norm after results are out for the first quarter.
Another indicator of a slowing market is the number of new 52 weeks’ high have slowed with just 1 in the junior market and 3 in the main market.Stocks changing hands includes, Cable & Wireless that traded 549,019 units to close unchanged at 48 cents, Caribbean Cement closed with 120,167 units trading, falling by 55 cents to $4.50, Carreras ended with a rise of 89 cents to $49 with 19,919 shares, Desnoes & Geddes traded 170,755 units at $7.11 up by 9 cents. Grace Kennedy traded unchanged at $65 with 46,504 shares, Jamaica Broilers closed down by 9 cents to end at $5.16 after trading at an intraday 52 weeks’ high of $5.50 with 95,942 shares being active, Jamaica Producers traded 8,502 shares at $18.52 and gained 2 cents. JMMB Group closed with 66,855 shares trading at a new 52 weeks’ high of $9.55 after gaining 5 cents, Kingston Wharves had 49,000 units trading to end 10 cents higher at $6.12,
National Commercial Bank closed $1.01 higher to a new 52 weeks’ high with 1,257,840 shares and ended at $31.01, after trading most at $30 and $30.50. Pan Jamaican closed with 17,824 units trading to end higher by 30 cents at $58.11. Proven Investments had 46,355 shares changing hands at 21 US cents, Radio Jamaica had just 2,936 units trading, to end at a new 52 weeks’ high of $2.40 as the stock gained 21 cents, at the close. Sagicor Group traded 113,272 shares to end higher by 6 cents at $12.16, Salada Foods had 40,000 units trading to end at $9, having fallen by 50 cents, Scotia Group traded 341,246 shares to close at $26 for a gain of 97 cents and Supreme Ventures had 100,000 units trading to end at $3.95.
