The Jamaican dollar gained against the US dollar and the British pound on Thursday, but fell against the Canadian dollar. Purchases of all currencies by dealers amounted to US$34,812,059 equivalent, compared with US$34,504,017, on Wednesday and selling of the equivalent of US$44,531,585 versus US$45,168,279 on the previous trading day.
In US dollar trading, dealers bought US$32,065,663 compared to US$30,314,068 on Wednesday. The buying rate for the US dollar fell 10 cents to $114.77 and US$43,026,526 was sold versus US$41,276,338 on Wednesday, the selling rate slipped 2 cents to end at $115.27. The Canadian dollar buying rate fell 5 cents to $88.94 with dealers buying C$1,530,223 and selling C$674,393, at an average rate that rose 16 cents to $90.83. The rate for buying the British Pound dropped $2.50 to $167.33 for the purchase of £824,029, while £469,115 was sold, at an average rate of $169.54, for a loss of 62 cents. At the end of trading it took J$122.71 to purchase the Euro, 40 cents more than on Wednesday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$120.42 for an increase of 43 cents over Wednesday’s rate. Other currencies bought, amounted to the equivalent of US$359,098 while the equivalent of US$283,686, was sold.
Highs & Lows| The highest buying rate for the US dollar, inched down 8 cents to end at 115.80, the lowest buying and highest selling rates remained at $93.94 and $120.37 respectively, while the lowest selling rate regained $16.28, to end back at $112.50. The highest buying rate for the Canadian dollar slipped 5 cents to $91.20, the lowest buying rate was unchanged at $71.21, but the highest selling rate rose $2.60 to $95.10 and the lowest selling rate fell $2 to $85.80. The highest buying rate for the British Pound, dived $3.10 to $170. The lowest buying rate fell $1.57 to $134.88, the highest selling rate rose $1.95 to $175.86 and the lowest selling rate fell 90 cents to $162.50.
J$ gains vs US & pound on Thursday
Six stocks rose nine fell on JSE
NCB closed in T&T at J$28 equivalent on Thursday and $24.51 in Kingston
strong> Main Market| The JSE Market Index gained 30.62 points to 82,563.78, the JSE All Jamaican Composite index rose 34.24 points to close at 91,028.44 and the JSE combined index declined 41.04 points to close at 84,253.49.
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 5 stocks with offers that were lower.
Gains| Stocks gaining with last traded prices, at the close of the main market are, Carreras closing with 137,420 shares changing hands, 1 cent higher to $38.01, Mayberry Investments concluded trading with 939,109 shares changing hands at 4 cents gain to $2.40, National Commercial Bank (NCB) finished with 200,147 shares changing hands and climbed 56 cents to $24.71. NCB traded at the equivalent of $28 in Trinidad on Thursday. Sagicor Group closing with 405,350 shares while gaining 2 cents to $10.52 and Scotia Investments finishing trading with 10,000 units to close with a gain of $1 at $23.
Firm| The stocks in the main market to close without a change in the last traded prices are, Grace Kennedy closing with 11,227 units at $61, Kingston Wharves had dealing in 2,000 shares at $6.40, Proven Investments contributed 3,500 shares at 18 US cents.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Cable & Wireless finishing with 300,000 units to close lower by 3 cents to 50 cents, Desnoes & Geddes closing with 1,546,034 units, the price slipped 10 cents to $5.30, Jamaica Broilers concluding trading with 30,506 units as the price fell 30 cents to $4.20. Jamaica Money Market Brokers in trading 73,181 ordinary shares, lower by 8 cents to $6.92, Jamaica Producers finishing trading with 7,377 shares closed with a loss of 95 cents to $16 and Scotia Group ending trading with 410,525 shares traded with a loss of 27 cents to $20.83.Preference| Jamaica Money Market Brokers 7.50% preference share traded 10,814 at $2 and Jamaica Money Market Brokers 8.75% preference share had 573,150 units changing hands at $3.
Trading activity decline for juniors
Activity on the Junior Market closed with 6 securities traded ending with 339,066 units changing hands valued at $408,329. The JSE Junior Market Index declined 7.51 points to close at 708.17, with the price of 1 stock advancing and 3 declining.
At the close of the market, there were 5 stocks with bids higher than their last selling prices and 3 stocks with offers that were lower. The junior market ended with 3 securities closing with no bids to buy and 6 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, Lasco Distributors trading 10,061 shares to gain 3 cents to $1.48, Caribbean Producers exchanging 2,000 shares at $2.10, Lasco Manufacturing saw trading in 50,000 shares to close at $1.15. General Accident finishing trading with 29,200 units to close lower by 15 cents at $1.65, Lasco Financial had dealing in 237,805 units and declined 5 cents to $1.05 and Paramount Trading contributing 10,000 shares, lost 50 cents to $3.50.
Declining stocks ahead of gainers
The Jamaican stock market recorded moderate gains on Thursday as 6 stocks rose and 9 declined in the overall market.
The JSE Market Index gained 31 points to end at 82,563.78, the JSE All Jamaican Composite index that gained 34 points to close at 91,028.44 and the JSE combined index fell 41 points to close at 84,253.49.
The total 4,999,406 units traded with a value of $37,729,585 in all markets as 22 securities traded one more than Wednesday. The largest trades in the main market are, Desnoes & Geddes traded 1,546,034 shares, Mayberry had 939,109 units trading, Sagicor Group traded 405,350 and Scotia Group traded 410,525 shares and Jamaica Money Market Brokers 8.75% preference shares with 573,150 units.
National Commercial Bank closed at $24.51 after trading as high as $25 with 200,147 units trading but the stock closed at the equivalent of $28 in Trinidad.
NCB ends at $28 in Trinidad Thursday
NCB closed up by $1.50 at $25 on Wednesday
A total of 60,000 shares were traded in Trinidad on Thursday. At the close the bid on the stock was TT$1.55 for 42,395 shares with no stock on the offer for sale
In Jamaica 184,000 unit of the stock traded between $24.10 and $25 with the majority at $25. There are only three offers on the board for 275 units at $25.50, 103,873 at $30 and 503 shares at $33.
NCB demand flows from good 2014 results with earnings of $4.73 cents per share and a hike in its dividend payments as well as robust first quarter results to December and the high level of undervaluation of the stock.
Loans grew by $8.7 billion, or 6 percent to $157 billion at the end of December last year from the similar period in 2013. Net profit of $2.1 billion, a decrease of 15 percent, or $368 million from the $2.5 billion earned in 2013 but the booking of the tax on assets was done in full in the December 2014 quarter instead of being spread over the entire year. This added $670 million to cost compared to 2013 resulting in the net profit getting a hit of roughly $400 million.
NCB reported that “gain on foreign currency and investment activities, up by $861 million. This was due to higher levels of foreign exchange income and gains from the sale of debt securities in the December 2014 quarter. Net fee and commission income, increased by $465 million or 22 percent, mainly due to Payment Services fees, related to card usage and transaction volumes, credit related fees from the growth in loans and greater corporate finance and unit trust fees, booked in the current period, net interest income, increasing by 2 percent, or $151 million, primarily due to growth in net loans and advances and investment securities portfolios.”
Trading picked up in early trading Thursday
Trading picked up in early trading on Thursday but the main market indices slipped. National Commercial Bank traded at $25 and has only four offers on the board for 275 units at $25.50, 103,873 at $30 and 503 shares at $33. Desnoes & Geddes traded 1.5 million units at $5.30 and Jamaica Producers shed 95 cents at $16.
Treasury bills rates mostly fall
Interest rates are down on the latest issue of treasury bills compared with the out turn in February, for the three and six months instruments but the 28 days instrument enjoyed a slight increase compared with the rate at the February auction.
The 182 days bill ended with an average rate of 6.99 percent and is back to the level at the January auction. The highest rate allotted for the latest issue is 7.16 percent, while $948 million chased after the amount offered.
The 91 days instrument attracted bids for $720 million and resulted in an average rate of 6.3 percent with 6.8 percent being the highest rate allotted. The average rate for the February auction came in at 6.88 percent.
The 28 days instrument attracted bids for $655 million and resulted in the average rate being 6.7278 percent with the highest rate allotted being 6.9 percent. The average rate for the February auction was 6.417 percent.
All three auctions had $400 million each on offer to the public.
J$ gains vs US on Wednesday
The Jamaican dollar gained against the US dollar on Wednesday, but fell against the other major currencies it normally trades. Purchases of all currencies by dealers amounted to US$34,504,017 equivalent, compared with US$34,344,124, on Tuesday and selling of the equivalent of US$45,168,279 versus US$48,294,987 on the previous trading day.
In US dollar trading, dealers bought US$30,314,068 compared to US$31,906,901 on Tuesday. The buying rate for the US dollar fell 1 cent to $114.87 and US$41,276,338 was sold versus US$46,253,301 on Tuesday, the selling rate slipped 5 cents to end at $115.29. The Canadian dollar buying rate climbed 96 cents to $88.99 with dealers buying C$1,702,486 and selling C$3,569,193, at an average rate that rose 73 cents to $90.67. The rate for buying the British Pound jumped $2.10 to $169.83 for the purchase of £1,856,918, while £489,603 was sold, at an average rate of $170.16, for a gain of 12 cents. At the end of trading it took J$122.31 to purchase the Euro, 25 cents more than on Tuesday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$119.99 for an increase of 30 cents over Tuesday’s rate. Other currencies bought, amounted to the equivalent of US$125,458 while the equivalent of US$362,331, was sold.
Highs & Lows| The highest buying rate for the US dollar, inched up 3 cents to end at 115.88, the lowest buying rate remained at $93.94. The highest selling rate lost 54 cents to end at $120.37 while the lowest selling rate dropped $16.28, to end at $96.22. The highest buying rate for the Canadian dollar climbed $1.20 to $91.25, the lowest buying rate was unchanged at $71.21 as well as the highest selling rate of $92.50 and the lowest selling rate rose $2 to $87.80. The highest buying rate for the British Pound, dived 95 cents to $173.10. The lowest buying rate remained at $136.45, the highest selling rate fell $5.09 to $173.91 and the lowest selling rate fell $1 to $163.40.
Guardian closes at new high on TTSE
Trading on the Trinidad Stock Exchange on Wednesday Guardian Holdings ended at a new 52 weeks’ high following full 2014 results. At the close of trading there were 14 securities changing hands of which 4 advanced, 2 declined and 8 traded firm with a total of 292,408 units, valued at $2,390,152.
At the close of the market, the Composite Index rose 1.49 points to close at 1,155.27, the All T&T Index rose fell by just 2.38 points to close at 1,980.98 and the Cross Listed Index increased by a mere 0.08 points to end at 43.18.
Gains| Stocks increasing in price at the close are, First Citizens Bank trading 636 shares at $35.27, with a gain of a cent. IC Insider’s Buy Rated Guardian Holdings contributed 49,043 shares with a value of $760,117 increasing by 93 cents to end at a new 52 weeks’ high of $15.50. Another IC Insider’s Buy Rated stock; National Commercial Bank traded 3,260 shares and ended at a new 52 weeks’ high of $1.41 to gain 3 cents and Prestige Holdings had 101,423 shares changing hands for a value of $1,014,228, to close with a gain of 9 cents to $10.
Declines| The stocks declining at the end of trading are, Grace Kennedy added 43,120 shares valued at $153,196 and lost 4 cents in ending at $3.55 and One Caribbean Media a loss of $1.66 to close at $22.30.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, Clico Investment Fund trading 8,960 shares valued at $201,603 to end at $22.50, Jamaica Money Market Brokers end at 43 cents with 970 units changing hands, National Enterprises traded 10 units to close at $17.35, National Flour Mills traded 3,200 shares at $1.55, Scotia Investments with 5,413 shares closed at $ 1.50. Scotiabank contributed just 20 shares and closed at $62 followed by Trinidad Cement with 76,174 shares trading for $201,861 to end at $2.65 and West Indian Tobacco with 129 shares traded closed at $125.04.
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 6 stocks with offers that were lower.
JSE’s second day of gains Wednesday
Wednesday’s activity on the Jamaica Stock Exchange, resulted in the prices of 6 stocks rising, 7 declining as 21 securities changed hands, ending in 1,996,047 units trading, valued at $15,520,825, in all market segments. the market recorded the second day with healthy gains in the main indices.
strong> Main Market| The JSE Market Index gained 377.14 points to 82,533.16, the JSE All Jamaican Composite index rose 421.66 points to close at 90,994.20 and the JSE combined index gained 397.54 points to close at 84,294.53.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 10 stocks with bids higher than their last selling prices and 4 stocks with offers that were lower.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Berger Paints ended with 55,235 shares changing hands to close higher by 5 cents to $1.60, Cable & Wireless closed with 149,271 shares traded with a gain of 3 cents to 53 cents, Carreras finished trading with 101,000 shares changing hands at 5 cents to $38, Jamaica Broilers finishing with 149,600 shares while gaining 40 cents to end at $4.50 and Pan Jamaican Investment closing with 6,154 units to close with a gain of $1.01 to $55.01.
Firm| The stocks in the main market to close without a change in the last traded prices are, Caribbean Cement contributed 7,757 shares trading at $2.30, Desnoes & Geddes ending trading with 80,000 shares at $5.40, Grace Kennedy while exchanged 11,750 shares at $61 and Jamaica Money Market Brokers contributed 2,000 ordinary units at $7.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Barita Investments closing with 25,000 units as the price slipped 1 cent to $2.19, Mayberry Investments finishing trading with 9,523 units to close lower by 4 cents to $2.36 National Commercial Bank concluding trading with 64,013 units as the price slipped 85 cents$24.15, Sagicor Group in trading 557,479 shares trading lower for 3 cents to $10.50, Scotia Group finishing trading with 4,130 shares closed with a loss of 40 cents to $21.10 and Seprod had dealing in 23,069 units with a decline of 5 cents to $12.25.
Preference| Jamaica Money Market Brokers 7.50% preference share close at $2 after trading 503,126 units.
