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NCB & Grace dominate trading on JSE

April 17, 2015 by IC Insider.com

Grace traded over 1 million shares on Friday and closed at $64.

Activity on the Jamaica Stock Exchange, resulted in the prices of 8 stocks rising, 7 declining as 24 securities changed hands, ending in 4,036,900 units trading, valued at $124,288,838, in all market segments as Grace Kennedy and National Commercial Bank controlled 1 million shares each.

Main Market| The JSE Market Index gained 356.30 points to 85,090.13, the JSE All Jamaican Composite index increased by 398.35 points to close at 93,853.01 and the JSE combined index rose 340.07 points to close at 86,937.80.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 11 stocks with bids higher than their last selling prices and 2 with offers that were lower, down from Wednesday’s stronger reading.
Stocks trading included, Cable & Wireless with 989,876 shares, to close at 50 cents, after losing 2 cents, but traded as high as 52 cents,
Carreras traded 1 million units at $43.50, up by $1.50, Grace Kennedy had 1,100,230 units trading, to close $1.95 higher, than on Thursday, at $64, but the stock traded previously at $62.10. The trade was worth $68.3 million. Jamaica Money Market Brokers 8.75% preference share ended with 38,800 units trading, at $3.10,

National Commercial Bank traded 40,096 units, all at $25.53, slipping by 47 cents for Thursday’s close. Pan Jamaican Investment had 29,160 shares trading at $55.10, followed by Proven Investments closed with 20,151 unchanged at 18 US cents, Sagicor Group with 202,495 at $10.50, Scotia Group traded 25 cents higher at $22.25 having traded as low as $22 with 248,882 units and Scotia Investments with 22,000 units closed at $23.01.

Filed Under: JSE Main Market, Stock Market Tagged With: C&WJ, Carreras, Grace Kennedy, JMMB, Pan Jam, Proven, Sagicor, Scotia

Low junior market activity on Friday

April 17, 2015 by IC Insider.com

The Junior Market closed out the week with very low activity as just 3 securities traded compared to 9 on Thursday, ending with 226,263 units changing hands valued at $227,820. The JSE Junior Market Index is up 0.53 points to close at 741.27, with the price of none advancing, 1 declining and 1 remaining unchanged from the last traded prices on Thursday.
At the close of the market, there were 2 stocks with bids higher than their last selling prices and 1 with the offer that was lower. The junior market ended with 5 securities closing with no bids to buy and 11 securities that had no stocks being offered for sale.
Some buyers have backed off their bids with the interested party in AMG Packaging dropping the bid that was at $2.50 up to Thursday. The bid is now back at $2.26 the last price the stock traded at Caribbean Cream closed with the bid for 73,530 shares at 68 cents 3 cents higher than the last price of 65 cents. Offers for the stock are over $1.
Stocks trading in the junior market are, Consolidated Bakeries trading 101,388 shares in closing at 82 cents, Knutsford Express had 896 shares trading at $5.80 and Lasco Manufacturing traded 123,979 units and lost 3 cents to $1.10.

Filed Under: JSE Junior Market, Stock Market Tagged With: AMG Packaging, Consolidated Bakeries, Knutsford Express, Lasco, Purity

Moderate price changes on TTSE

April 17, 2015 by IC Insider.com

Trading on the Trinidad Stock Exchange closed with 10 securities changing hands of which 1 advanced, 3 declined and 6 traded firm with a total of 96,614 units, valued at $998,347.
At the close of the market, the Composite Index lost 0.82 points to close at 1,150.66, the All T&T Index fell by just 0.11 points to close at 1,964.88 and the Cross Listed Index fell 0.20 points to end at 44.11.
Gains| Unilever Caribbean enjoyed the day’s sole price increase, climbing 5 cents to end the day at a new 52 weeks’ high of $66.08.
Declines| The stocks declining at the end of trading are, First Citizens Bank adding 4,644 shares valued at $165,151, closing 1 cent lower at $35.56. Sagicor Financial Corporation suffering a loss of 25 cents, to close at $6 with 64,675 shares changing hands for a value of $388,807 and Republic Bank with 763 shares traded 4 cents down at $115.95.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, Clico Investment Fund ending at $22.50, while trading 2,543 units, Guardian Holdings with 10,994 shares trading for $156,115, ended at $14.20. had just 1,000 shares changing hands at 43 cents, National Flour Mills with 600 shares changing hands, closed at $1.50, Scotiabank exchanged 453 shares, to close at $62.11 and Trinidad Cement contributing 9,593 shares at $2.50.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 2 stocks with the bid higher than their last selling prices and 3 stocks with offers that were lower.

Filed Under: Stock Market, TTSE Market Tagged With: clico, First Citizens, Guardian Holdings, JMMB, JMMB Group, National Flour Mills, Republic Bank, Sagicor, Sagicor Financial Corporation, Scotia, Trinidad Cement, Unilever Caribbean

JMMB Group confusion

April 17, 2015 by IC Insider.com

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A check on the Trinidad and Tobago Stock Exchange (TTSE) website and trading data, leads to confusion as to the correct name of the JMMB Group Limited, the incorrect name was still being carried up to Friday in the trading summary, but based on IC Insider’s intervention the TTSE indicates that the error will be corrected.TTSE in a release on Tuesday posted on its website captioned: NOTICE OF APPOINTMENT OF DIRECTORS – JAMAICA MONEY MARKET BROKERS GROUP LIMITED (JMMBGL).The contents of the release includes this: “The Trinidad and Tobago Stock Exchange (TTSE) received notice that pursuant to the Scheme of Arrangement filed with the Companies Office of Jamaica, the following Directors have been appointed to the JMMB Group Limited Board of Directors effective April 13th, 2015”.
The release raises questions as to the correct name of the company that was listed on Monday on three exchanges within the region? The fact that the TSE statement has both names, is strange to say the least. Coming from the exchange one gets the impression that they ought to know the name, so when they head the release with the old name and then add Group to it, one wonders why? The Trinidad Stock Exchange fact sheet of listed companies has the company’s name incorrectly stated as Jamaica Money Market Brokers Group Limited. A check with the Jamaica Stock Exchange show the company correctly listed as JMMB Group Ltd but a release from the JSE when the stock was listed on Monday reports the company as Jamaica Money Market Brokers Group Limited.
The scheme of arrangements puts the matter beyond doubt. According to that document “JMMB Group” means JMMB Group Limited, whose principal office is situated at 6 Haughton Terrace, Kingston 10, Jamaica, a company duly incorporated in Jamaica under the Companies Act 2004. The document goes on further to state that “As a result, the understanding that JMMB has reached with the BOJ is that the combined group will see a new financial holding company being introduced at the pinnacle of the structure. JMMB Group Limited (“JMMB Group”) was therefore formed for this purpose on May 16, 2012, and it is intended that if the Scheme is approved, this company will be the publicly listed ultimate holding company of the combined group. The evidence is clear the correct name is JMMB group Ltd.
IC Insider checked with the Trinidad & Tobago Stock Exchange, and was advised by a representative: Marlon Crew that the error will be corrected by the end of Friday, April 17.

Filed Under: Company News Tagged With: JMMB Group

JSE gains in morning session

April 17, 2015 by IC Insider.com

The Jamaica Stock market is recording gains in the morning session with 18 securities trading at 11:15. Carreras was the leading trade with 1 million units at $43.50, up by $1.50.
National Commercial Bank traded 40,096 units, all at $25.53, slipping by 47 cents for Thursday’s close and Scotia Group traded firm at $22 with 41,129 units. The JSE Market Index put on 279.23 points to 85,013, the JSE All Jamaican Composite index gained 312.18 points to close at 93,762.02 and the JSE combined index rose 277.59 points to close at 85,013.06. The Junior market Index was up 1,61 points at 742.35.

Filed Under: JSE Main Market, Stock Market Tagged With: Carreras, National Commercial Bank, Scotia Group

Prices up in March down for year

April 17, 2015 by IC Insider.com

The Statistical Institute of Jamaica (Statin) reports that for March 2015 that inflation rose by 0.5 percent over the February which had a fall of 0.7 percent. The calendar year-to-date inflation rate is minus 0.6 percent. This is the first increase in the index after recording four consecutive months of decline”, Statin said.
Contributing significantly to this advance in the index was a 2.9 percent increase in the index for the Housing, Water, Electricity, Gas and Other Fuels due mainly higher rates for electricity. Lower prices for vegetables and starchy foods helped in moderating the increase with a small reduction in prices.
The divisions that recorded increases in prices are, ‘Alcoholic Beverages and Tobacco’ 0.3 percent, ‘Clothing and Footwear’ 0.4 percent, ‘Furnishings, Household Equipment and Routine Household Maintenance’ 0.3 percent, ‘Health’ 0.2 percent, ‘Transportation 0.7 percent, ‘Recreation and Culture’ 0.1 percent, ‘Restaurants and Accommodation Services’ 0.3 percent ‘, ‘Miscellaneous Goods and Services’ 1.3 percent, while ‘Education’, and ‘Communication’ each remained unchanged.

Filed Under: Breaking News, Economy, Feature Stories

BOJ cut interest rate

April 17, 2015 by IC Insider.com

The Bank of Jamaica’s 30-day Certificate of Deposit interest rate was reduced on Friday, 17 April 2015 Thursday to 5.50 percent from 5.75 percent, the central bank announced on Thursday. This is the first such reduction since February 2013, when the rate was cut by 50 basis points from 6.25 percent to 5.75 percent.
BOJ in its release stated, “this adjustment to the BOJ policy rate, reflects the Bank’s expectation that the rate of increase in consumer prices is likely to remain low in the coming year”.
“The recently announced inflation rate of 4 per cent for FY 2014/15 is the lowest in 48 years. The sharper than expected decline in inflation for the fiscal year was due in part to the fall in oil prices but also to the moderation in price increases that has resulted from fiscal consolidation and economic reforms. The impact of these changes will help to moderate inflation impulses over the medium term” the central bank concluded.
The reduction is also in line with a decline in Treasury bill rates over the past year, coupled with increased inflows of foreign exchange into the system that led to some amount of revaluation of the Jamaican dollar.

Filed Under: Breaking News, Economy, Feature Stories Tagged With: BOJ, BOJ policy rate, CD rates, GOJ Treasury bills

14 stocks rise up on JSE Thursday

April 16, 2015 by IC Insider.com

NCB closed at a new 52 weeks’ high on Thursday at $26.

Activity on the Jamaica Stock Exchange, resulted in the prices of 14 stocks rising, 6 declining as 29 securities changed hands, ending 7,222,423 in units trading, valued at $25,918,286, in all market segments.
Main Market| The JSE Market Index lost 103.43 points to 84,734, the JSE All Jamaican Composite index fell 115.64 points to close at 93,454.66 and the JSE combined index declined by 31 points to close at 86,597.73.

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 4 with offers that were lower, down from Wednesday’s stronger reading.
In trading, Cable & Wireless traded 3,172,266 shares to close at 52 with a 2 cents gain. Carreras traded 104,311 units to end at $42, Grace Kennedy had 51,721 shares changing hands and lost $1.15, to end at $62.05, Jamaica Money Market Brokers 8.75% preference share traded 1,100,000 units at $3.10.

Margaritaville (Turks) had 87,810 units trading at 10 US cents, after the company released nine months’ results to February. National Commercial Bank seemed to have reacted to the announcement of dividend consideration at the board meeting later this month, and traded 105,554 shares, first at $25.50 and then at $26 with a gain of 74 cents for a new 52 weeks’ high. Sagicor Group had 41,700 units changing hands and closed at $10.35 and Scotia Group traded 98,372 units at $22, and Supreme Ventures traded 1,435 units, lost 34 cents to end at $2.50.

Filed Under: JSE Main Market, Stock Market Tagged With: C&WJ, Carreras, Daily Trading, Grace Kennedy, Jamaican Stock, JMMB, Margaritaville Turks, NCB, Sagicor, Scotia, Supreme Ventures

TTSE marking time

April 16, 2015 by IC Insider.com

Trading on the Trinidad Stock Exchange ended Thursday with 10 securities changing hands of which 2 advanced, 1 declined and 7 traded firm with a total of 167,953 units, valued at $1,778,490.
At the close of the market, the Composite Index lost 0.16 points to close at 1,151.48, the All T&T Index rose fell by just 0.33 points to close at 1,964.99 and the Cross Listed Index remained at 44.31.
Gains| Stocks increasing in price at the close are, Ansa Merchant Bank contributing 7,740 shares with a value of $301,473 closed at 4 cents up at $38.95 and First Citizens Bank traded 2,570 shares to close with a gain of 1 cent, $37.57.
Declines| National Enterprises was sole declining stock as it lost 3 cents to end the day at a 52 weeks’ low of $17.30.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, ANSA Mcal trading just 100 shares to close at $66.91, Clico Investment Fund with 42,588 shares valued at $958,654 ended at $22.50, Guardian Holdings contributed 1,131 shares with the price closing unchanged at $14.20. JMMB Group with 10,000 shares trading, ended at 43 cents, while Massy Holdings added 3,718 shares valued at $234,420 and ended at $763.05, National Flour Mills with 99,633 shares changing hands for a value of $149,450 and closed at $1.50, West Indian Tobacco trading 73 shares to close at $125.10.
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 4 stocks with offers that were lower.

Filed Under: Stock Market, TTSE Market Tagged With: Ansa Mcal, Ansa Merchant Bank, clico, Daily Trading, First Citizens, Guardian Holdings, JMMB, JMMB Group, Massy Holdings, National Enterprises, National Flour Mills, TTSE, West Indian Tobacco

CPJ trades 1.74m shares

April 16, 2015 by IC Insider.com

Activity on the Junior Market ended with 9 securities traded, comprising 2,201,563 units changing hands, valued at $4,588,656, Caribbean Producers dominated trading with more than 1.74 million units to close at $2.31 in only two trades as the stock gained 1 cent. The JSE Junior Market Index declined 7.17 points to close at 740.74, with the price of 6 stocks advancing and 2 declining and 1 remained unchanged.
At the close of the market, there were 3 stocks with bids higher than their last selling prices and 1 with the offer that was lower. The junior market ended with 5 securities closing with no bids to buy and 10 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, Caribbean Cream trading 25,055 shares at 65 cents as the price rose by 5 cents. Caribbean Flavours had 10,968 units changing hands, 5 cents higher at $1.85, Derrimon Trading put through 15,000 shares at $2.04, Honey Bun traded 10,000 shares but lost 11 cents in closing at $1.80. Lasco Financial Services had 15,000 units trading 5 cents higher, at $1.15, Lasco Manufacturing traded 352,851 units for 7 cents more at $1.13, Medical Disposables put through 27,000 shares in trading and ended up 4 cents better off at $1.80 and Paramount Trading had 4,905 units changing hands at $3.55 for a 55 cents fall.