Blog Page — Page 1248

No stock fell on TTSE Wednesday

May 6, 2015 by IC Insider.com

Guardian Gained in trading on Wednesday but the stock could benefit in the future from the take over of large blocks of shares.

Trading on the Trinidad Stock Exchange closed with 13 securities changing hands of which 2 advanced, none declined and 11 traded firm with a total of 865,369 units, valued at $7,647,482.
At the close of the market, the Composite Index rose 0.17 points to close at 1,153.41, the All T&T Index rose 0.34 points to close at 1,968.83 and the Cross Listed Index remained at 44.32.
Gains| Stocks increasing in price at the close are, Ansa Mcal trading 1,500 shares to close with a gain of 1 cent at $67.02, Guardian Holdings trading 1,180 shares closed with a gain of 7 cents to end at $14.26. Proven Investments and National Commercial Bank are slated to take a major stake in the ownership in Guardian that once was majority owned by Jamaica Mutual Life.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, Angostura Holdings with 715 units at $13.90, Clico Investment Fund closed at $2.55 with 1,300 units, First Citizens Bank trading 1,875 shares to close at $35.78, Guardian Media trading 912 shares at $19.76, JMMB Group contributing 185,655 shares at 50 cents. Massy Holdings traded just 6 shares to close at $63.43, National Enterprises with 1,000 shares closed at $17.30, One Caribbean Media ended trading with 876 units at $22.30, Prestige Holdings had 662,100 units changing hands at $10 with a value of $6,621,000. Republic Bank had 2,650 shares trading with a value of $304,750 to close unchanged at $115, Scotiabank traded 5,600 units to close at $62.50 carrying a value of $350,000.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 4 stocks with the bid higher than their last selling prices and 1 stock with the offer that is lower.

Filed Under: Stock Market, TTSE Market Tagged With: Angostura Holdings, Ansa Mcal, clico, Daily Trading, First Citizens, Guardian Holdings, Guardian Media, Jamaica Mutual Life, JMMB, Massy Holdings, National Enterprises, NCB, One Caribbean Media, Prestige Holdings, Proven Investments, Republic Bank, Scotia, TTSE

7 stocks rose on junior martket

May 6, 2015 by IC Insider.com

Caribbean Producers enjoyed another day trading high volume

Trading picked up on the Junior Market with 13 securities trading, the most for some time, and ended with 1,615,246 units changing hands valued at $5,248,573. The JSE Junior Market Index declined 10.85 points to close at 824.53, with the price of 7 stocks advancing and 3 declining and two closing at 52 weeks’ high.
At the close of the market, there were 6 stocks with bids higher than their last selling prices and only 2 with lower offers. The junior market ended with 4 securities closing with no bids to buy and 5 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, AMG Packaging ending with 137,533 shares changing hands to close higher by 25 cents at $3.25, Blue Power closed with 230 shares trading at $8.81, Cargo Handlers finished with 20,000 units to close with a gain of 25 cents to a new all-time high of $21.75, Caribbean Producers with 717,178 shares trading lower by 12 cents to $2.88, Derrimon Trading finished trading with 47,549 shares to closed unchanged at $2.04, General Accident Insurance concluded trading with 55,800 shares changing hands to close 2 cents higher at a 52 weeks’ high of $1.82. Lasco Distributors

traded 5,000 shares trading, 1 cent higher, at $1.46, Lasco Financial Services finished trading with 322,888 units, the price slipped 7 cents to $1.23. There was dealing in 6,918 Lasco Manufacturing’s shares as the stock traded lower by 1 cent to $1.34, Medical Disposables contributed 30,000 shares with the price rising 20 cents, to $1.90, Paramount Trading ended trading with 10,000 shares to end with an increase of 39 cents at $3.99. Eppley 9.5% preference share closed trading with 17,150 units and put on just 1 cent to $6.01 and the company’s 2019 preference share exchanged 245,000 units at $6.

Filed Under: JSE Junior Market, Stock Market Tagged With: AMG Packaging, Blue Power, Cargo Handlers, Caribbean Producers, Derrimon Trading, Eppley, General Accident Insurance, Lasco Distributors, Lasco Financial Services, Lasco Manufacturing, Medical Disposables, Paramount Trading

18 gains 10 new highs – Tuesday

May 5, 2015 by IC Insider.com

H&L gained 35% or $2.65 to $10.15 on Tuesday

The closing main market indices do not tell the full tale of activity on the Jamaica Stock Exchange on Tuesday, as the day closed with 10 new at 52 weeks’ high and with advancing stocks out numbering declining stocks, by a wide margin as 60 percent of stocks trading increased in price. During the early morning, trading in two stocks was halted having exceeded the 15 percent circuit breaker maximum price movement initially.
Hardware and Lumber one of the stocks after an hour freeze in the trade went through with a gain of 29.70 percent but Radio Jamaica price of $3 that the stock had attempted trading at, was well over the 30 percent allowed and was cancelled. Ciboney price gained more than thirty percent from the last price but the bid on the previous day was such that the trade could take place unimpeded as the benchmark for the 15 percent was the bid price in the case. The market closed with the prices of 18 stocks rising, 5 declining, with 30 securities changing hands, ending in 7,028,882 units trading, valued at $46,086,343, in all market segments.

Main Market| The JSE Market Index gained just 11.21 points to 95,493.85, the JSE All Jamaican Composite index rose 12.53 points to close at 105,484.85 and the JSE combined index gained 181.45 points to close at 97,599.81.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 14 stocks with bids higher than their last selling prices and 2 with offers that were lower.
In trading, Caribbean Cement ended with 50,000 units to close higher by 80 cents to end at $5, a new 52 weeks’ high, Carreras closed with 18,000 shares trading as the price jumped $2.82 to $50, a new 52 weeks’ high. Ciboney finished with 500,000 units and put on 2 cents to close at 9 cents, Desnoes & Geddes finished trading with 500 shares and gained of 2 cents to end at a new 52 weeks’ high of $6.51. Grace Kennedy concluded trading with just 10,193 units, 11 cents higher at $64.12, Hardware & Lumber had trading of 4,000 shares, the price climbed $2.65 to end at $10.15, Jamaica Broilers contributed 176,408 shares but the price gained by 9 cents to $5, JMMB Group finished trading with 1,026,000 units to close at $8.30, for a new 52 weeks’ high. Mayberry Investments had dealing in 120,581 units with a gain on 1 cent to end at a new 52 weeks’ high of $2.80,

National Commercial Bank contributed 275,391 shares to trading and ended higher by 51 cents at $30.50, Pan Jamaican Investment ended with 169,314 units trading, 51 cents higher at $57.51. Sagicor Group closed with 160,357 shares traded with a gain of 20 cents to $12.20, a new 52 weeks’ high. Scotia Group finished with 30,305 shares as the price ended at $25, Seprod finished trading with 64,600 units to close at $18.50, Supreme Ventures concluded trading with 755,156 shares as the rice rose 39 cents to end at $3.90, a new 52 weeks’ high. Proven Investments had trading in 25,994 units with the price falling .001 us cents to end at 20.99 us cents, Jamaica Money Market Brokers 8.75% preference share finished trading with 180,097 units with a decline of 20 cents to $3 and Proven Investments 8% preference share closed with 64,240 units as the price slipped 5 cents to $5.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: Caribbean Cement, Carreras, Ciboney Group, Desnoes & Geddes, Grace Kennedy, H&L, Jamaica Broilers, Jamaica Money Market Brokers, JMMB Group, Mayberry Investments, National Commercial Bank, Pan Jamaican Investment, Proven Investments, Radio Jamaica, Sagicor Group, Scotia Group, Seprod, Supreme Ventures

US$78m bought US$81m sold Tuesday

May 5, 2015 by IC Insider.com

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Trading in the foreign exchange market saw a big jump in both buying and selling volumes as the Jamaican dollar slipped against all it major peers. Purchases of all currencies by dealers amounted to US$78,256,318 equivalent, compared with US$45,348,873, on Monday and selling of the equivalent of US$81,132,131 versus sale of US$39,052,916, previously.
In US dollar trading, dealers bought US$75,998,214 compared to US$40,589,132 on Monday. The buying rate for the US dollar rose 36 cents to $115.54 and US$79,709,830 was sold versus US$36,727,675 on Monday, the selling rate was up 2 cents to $115.76. The Canadian dollar buying rate fell 76 cents to $93.43 with dealers buying C$1,081,653 and selling C$723,573, at an average rate that rose 12 cents to $95.55. The rate for buying the British Pound fell 67 cents to $172.32 for the purchase of £876,475, while £490,547, was sold, at an average rate that inched up 10 cents to $174.81. At the end of trading it took J$129.18 to purchase the Euro, 70 cents less than on Monday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$126.63 for a fall of 72 cents from Monday’s rate. Other currencies bought, amounted to the equivalent of US$76,311, while the equivalent of US$84,322, was sold.
Highs & Lows| The highest buying rate for the US dollar, fell 10 cents to $116.20. The lowest buying rate remained at $94.36 and highest selling rate rose 32 cents $121.23, with the lowest selling rate jumping $19.36 to $113.30. The highest buying rate for the Canadian dollar fell $1 to $96. The lowest buying rate was unchanged at $75.36, the highest selling rate rose 68 cents to $98.18 and the lowest selling rate gained 20 cents to $91. The highest buying rate for the British Pound, declined 50 cents to $175.50, the lowest buying rate dipped 33 cents to $140.44, the highest selling rate declined $2.64 to $178.83 with the lowest selling rate falling 40 cents to $169.20.

Filed Under: Company News

Junior market within 5 pnts of record

May 5, 2015 by IC Insider.com

Caribbean Producers traded 2.8 million shares on Tuesday

Caribbean Producers traded 2.4 million shares on Tuesday

Activity on the Junior market closed with 8 securities trading and ending with 2,815,632 units changing hands valued at $8,153,644, pushing the index within just 5 points of the junior market all time high of 840.18 points recanted on July 9, 2013. The JSE Junior Market Index declined 18.38 points to close at 835.38, with the price of 3 stocks advancing and 4 declining. Three stocks closed at 52 weeks’ high and one traded during the day at intraday high.
At the close of the market, there were 7 stocks with bids higher than their last selling prices and only 1 with a lower. The junior market ended with 4 securities closing with no bids to buy and 8 that had no stocks being offered for sale.
Stocks trading in the junior market are, Access Financial

traded 7,428 units and added 1 cent to end at $15.10, a new 52 weeks’ high, Cargo Handlers closed at a new 52 weeks high of $21.50 by gaining 50 cents with 20,000 shares trading. Caribbean Cream had 8,000 units changing hands to end 4 cents higher at a new 52 weeks’ high of 85 cents. Caribbean Producers had 2,416,990 shares trading between $2.88 and $3.05, to close 9 cents lower at $2.90. Consolidated Bakeries traded 45,000 shares at 94 cents to gain 12 cents, Dolphin Cove traded 1,000 at a new 52 weeks’ high of $10, Lasco Financial Services had 28,800 units trading and closed at $1.30 and Lasco Manufacturing traded 288,414 shares between $1.35 and $1.50 and closed at $1.35, the stock traded during the day at 52 weeks high.

Filed Under: Breaking News, JSE Junior Market, Stock Market Tagged With: Cargo Handlers, Caribbean Producers (CPJ), Consolidated Bakeries, Dolphin Cove, Lasco, Lasco Financial Services, Lasco Manufacturing

5 stocks rose none fell on TTSE

May 5, 2015 by IC Insider.com

Trading on the Trinidad Stock Exchange was dismally low with just 21,815 units, valued at $537,697 trading with 13 securities changing hands of which 5 advanced, none declined and 8 traded firm.
At the close of the market, the Composite Index rose by 0.12 points to close at 1,153.24, the All T&T Index advanced by just 0.25 points to close at 1,968.49 and the Cross Listed Index remained at 44.32.
Gains| Stocks increasing in price at the close are, Clico Investment Fund with 5,414 shares valued at $121,957, gained 1 cent to end at $22.5. First Citizens Bank traded 1,205 shares to close with a gain of 1 cent at $35.78, Guardian Holdings put on 2 cents while trading 2,000 shares to end at $14.19, Massy Holdings traded 2,181 shares worth $138,341 and gained 1 cent to $63.43 and West Indian Tobacco gained 4 cents to end the day at $125.20.
Firm Trades|Stocks closing with prices unchanged at the end of trading are, Firstcaribbean International Bank trading 500 shares to end unchanged at $5.01, JMMB Group traded with 5,416 shares changing hands to end at 50 cents, One Caribbean Media contributed 100 shares at $22.30. Republic Bank traded 200 shares to close at $115, Sagicor Financial traded 191 shares and closed at $5.90, Scotiabank with 391 shares changing hands ended unchanged at $62.50 while Scotia Investments added 1,894 shares at $1.45 and Trinidad Cement had only 1,175 units changing hands to close at $2.90.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 4 stocks with the bid higher than their last selling prices and 1 stock with the offer that was lower.

Filed Under: Stock Market, TTSE Market Tagged With: clico, First Citizens, Firstcaribbean International Bank, Guardian Holdings, JMMB Group, Massy Holdings, One Caribbean Media, Republic Bank, Sagicor Financial, Scotia, Scotia Investments, Trinidad Cement, TTSE, West Indian Tobacco

What is a Unit Trust?

May 5, 2015 by IC Insider.com

Jamaica Unit Trust started the first unit trusts in Jamaica

Jamaican investors have been blessed with an array of investment opportunities right here in Jamaica, that they can make superior returns from. They just need to know where to look. An easy way, is to leave the choices up to professional managers to make the individual investment decisions.
The investment choices are many, some are quite simple to invest in while others required skills developed over time. For example the stock market may well be the market that delivers the highest returns, but investing successfully in stocks, requires knowledge about the workings of the market as well as a good assessment of the company to invest in as well as learning when to get in and out of a stock. On the other hand investing in Unit Trusts requires little knowledge of the assets the funds invest in, as the reliance should be placed on the management of these funds. In this regard the pass success over time is often a good indicator to be followed when investing in these funds.
An equity linked unit trusts are ideal for persons who want higher returns that the stock market offers without the having to do all the work in identifying the best stocks and the most opportune time to trade stocks, the same applies to fixed interest instruments.
What is a unit trust? Unit Trusts pool funds from numerous investors to invest in a variety of securities. The Trusts are governed by statutory regulations and their own trust deeds which set out the powers and limitations of the management of the funds. One major feature of unit trust is that of diversification of investments especially in the equities. This factor may reduce the growth potential of such funds but it acts as a great protection for investors. Local unit trust prices are quoted daily and are published in newspapers twice per week. The managers of these funds charge a fee for their services which is either taken out at the time of investment as well as an ongoing fee based on the size of the funds.
Upon till a few years ago, there are two main funds managed by fund managers these are equity or money market based. Fees can eat into the returns of investors especially in the case of money market funds. Recently, more funds were added, to include, real estate, foreign exchange and venture capital.
Returns on the money market funds should hover around rates paid on fixed interest securities less the fees the managers get.
When choosing funds to invest in, past performance can be a good guide but not always. Recent top performing funds could be the ones to look at first but it may be useful to look at a longer term period say the last 5 years to see how consistent management has been in delivering the returns. It is useful to determine what financial assets are in the fund at the time that investment is contemplated to see if they are appropriate.
Who are the persons behind the management decisions is the most important. An investment committee that makes decisions as opposed to an individual can make a big difference. Committees respond slowly to changes in market sentiments while individuals can move more swiftly but a committee may well protect against bad decisions. Size can make a difference in performance. A big fund is less nimble than a smaller one.

Filed Under: Investment Tips Tagged With: Unit trust

Trading in 2 stocks halted

May 5, 2015 by IC Insider.com

Trading was halted in Hardware and Lumber (H&L) in attempting to trade at $10 which is 29.7 percent above Monday’s close and Radio Jamaica (RJR) at $3 or 43.54 percent above the closing bid on Monday which was higher than the last price.
The stocks were halted as the price exceeded 15 percent permitted initially for a legimate trade to be effected at the time the price is struck. When the stocks reopened H&L trade went through but that RJR trade was cancelled a spokesperson on the Jamaica Stock Exchange (JSE) informed IC Insider that the latter is more than 30 percent that would be permitted and would be cancelled. Ciboney Group traded at 9 cents or 28.57 percent from the last price but the stock closed with the bid at 8 cents yesterday which allowed the stock to trade unimpeded.
Noted trades took place in Carib Cement traded at $5 with 50,000 shares, Carreras with just 1,000 but it traded at $49 for a new 52 week’s high, JMMB Group at $10, a new 52 weeks’ high, National Commercial Bank with 236,291 shares at $30, Sagicor Group 160,257 ended at $11.50, Supreme Ventures traded 750,000 at $3.12, Scotia Group fell by $1 to 424, Proven Investments traded 24,800 at 20.99 US cents, Cargo Handlers traded 20,000 units $21.50, for new Caribbean Producers traded 572,500 shares at #3.05 and Lasco Manufacturing traded 65,600 at $1.35.

Filed Under: JSE Main Market, Stock Market

Guardian Media profit up 17%

May 5, 2015 by IC Insider.com

Guardian Media has a respectable first quarter for 2015 in spite of a tight economy in Trinidad with the sharp fall in the price of oil. The improvement did not come from the main business of news dissemination, instead it came from the multi-media segment. Guardian reported profit before tax for the quarter increasing by 32 percent to reach $6.03 million, from $4.57 million in 2014. After accounting for corporate taxes, profits grew 17 percent to $4.48 million from $3.84 million in 2014.
The print segment made less profit before taxation than in 2014, with $1.24 million reported in 2015 versus $1.69 million in 2014 while the Multi–media segment generated $4.8 million compared with $2.9 million in March 2014.
Whilst revenue grew marginally from $44.4 million to $45.1million, management of operating costs and the realization of operational efficiencies and a reduction in finance cost from $495,000 to $243,000 resulted in the increase in profitability.
Cash flows increased by $2.4 million for the 2015 quarter resulting from cash inflows from operations rising by $11.6 million compared with $9.2 million in 2014, leaving cash on hand of $113 million. Equity capital ends at $382 million.
“We expect these improvements in performance to continue for the rest of the year,” management stated, in their release to the Trinidad Stock Exchange with the quarterly financial statements.
The stock last traded in January at $19.76 on the Trinidad Stock Exchange. If earnings should continue at the pace of the first quarter the company could earn $1 per share which would place the PE at 20, quite steep for a company in a matured market. At the close on Monday there were no stocks offered for sale and no bids to buy.

Filed Under: Company News, Company Results Tagged With: Guardian Media, PE ratio, TTSE

More choices for investors

May 5, 2015 by IC Insider.com

Barita

There were times, not so long ago, when things in the local financial markets were much simpler than they are now. Well up to just a few years ago there were only three unit trust companies operating and about 6 or 7 schemes. At the end of 2014 there were 22 different unit trust offerings and currently there are 27.
NCB Capital Markets added two new ones this year and Barita has just launched two new ones. By the end of 2015 the field is likely to get even more crowded with a number of institutions already indicating that they will be launching new schemes, included are JMMB Securities and Stocks and Securities. Part of the reason for the mush rooming of these schemes is occasioned by the dictates of the IMF and the World Bank who considered the risk financial institutions were taking by issuing repos using government securities as the flip side of the trades as too high and could pose major problems to the financial system. The result is a change in the rules that now require smaller amounts of funds to be routed through managed schemes, where the liability is left with the investors rather than the financial institutions, as is now the case. The market has also changed, with investors looking for a greater number of opportunities to invest in.
Barita Unit Trust is the latest entity to launch new schemes, bringing their suite of schemes to 6 in April. The latest are; the Barita US$ FX Growth Portfolio which invests mainly in international equity, and the Barita JA$ Real Estate Portfolio which invests primarily in commercial and residential buildings for lease or sale.
The US$ FX Growth Portfolio is a US Dollar denominated equity portfolio with investments in foreign currency ordinary and preference shares of countries within the Commonwealth, Caricom and the United States and may extend to other sovereign governments as prescribed by the Financial Services Commission and the Bank of Jamaica. A minimum purchase of 100 units is required to open an account, the current price per unit is US$1.

Barita Property Fund invested in 138 Student Living shares

The real estate portfolio is JA$ denominated with investments in commercial or residential buildings for lease or sale and may also become financiers of real property developments and or participate in construction or financing of such structures.
Real Estate Portfolio investments must be held for a minimum of three years with a moratorium of 6 months’ notice required for encashment of the investment. At the launch, the managers stated that the fund has started off with an investment in 138 Student Living shares that are listed on the Jamaica Stock Exchange (JSE). A minimum purchase of 100 units is required to open an account and the current price is $5,000 per unit.
How the new funds will perform is left to time. What is known is the Cameron Burnett who is associated with the US dollar equity fund, has been investing in the overseas’ market for several years successfully, the fund should benefit from his experience. Hopefully, they will be able to navigate what is set to be a choppy period ahead for the US stock market, with interest rates set to go up.
Locally, real estate values should grow at an increasing pace as the government keeps the target of a balance fiscal operation firmly in sight and be committed to achieving it, which will lead to lower interest rates and higher asset values.
Barita Unit Trust is a subsidiary of Barita Investments a JSE listed stock.