The Jamaica Stock Exchange closed the week with the all Jamaica Composite Index gaining 1,248.18 and 3,149 points, for November to date, as the local market seems to be conforming to a late year end rally, that has been evident for several years, in the Jamaica stock market.
The chart shows a clear pattern of the market going up between late October and the end of December in 2012 and 2013 with the market again showing signs of conforming once more, in 2014. Technical indicators for the market, points to a continuation of the recent move, strongly suggesting that the gains could continue well into 2015.
Year end rally in play on JSE
November 21, 2014 by
JSE up 3,100 points for November so far
November 21, 2014 by
Trading on the Jamaica Stock Exchange closed the week with the main index up 1,116.30 points, the all Jamaica Index gained 1,248.18 points and the combined index 1,251.75 points, as the market recorded gains in all but one day for the week. For November, to date, the main market index is up 2,816 points, the all Jamaica Index 3,149 and the combined index 2,848 points.
Friday’s activity resulted in the prices of only 4 stocks rising, 8 declining as 21 securities changed hands, ending in 9,320,763 units trading, valued at $91,472,038, in all market segments.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had 7 stocks with bids higher than their last selling prices and 8 stocks with offers that were lower.
Main Market| The JSE Market Index gained 52.12 points to 74,621.16, the JSE All Jamaican Composite index rose 58.27 points to close at 82,148.13 and the JSE combined index gained 22.81 points to close at 76,503.91.
Gains| Stocks gaining with the last traded prices, at the end of trading, in the main market are, Cable & Wireless finishing trading, with 380,042 shares, 2 cents higher to 45 cents. Grace Kennedy concluded trading with 1,778 shares changing hands, 10 cents higher at $60.60 and Scotia Group closed with 2,324,106 shares trading, with a gain of 30 cents to $20. Barita Investments was the broker selling the most Scotia shares, and NCB Capital Market, the broker purchasing the bulk of the stock to trade, with most traded at $20.
Firm| The stocks in the main market to close without a change in their last traded price are, Caribbean Cement with 3,375 shares, changing hands, to close at $2.26, Jamaica Money Market Brokers with 7,900 ordinary shares changing hands at $7, Jamaica Stock Exchange finished trading with 6,000 shares at $1.55. National Commercial Bank had 987,977 shares changing hands at $19 and Radio Jamaica concluded trading with 378 shares changing hands, to close at $1.18. Sagicor Investments was the broker to trade the largest portion of the NCB trade with a cross of 967,497 units. At the close of trading there were only 12 offers posted between $19.15 and $35 for just under 200,000 shares, while there are a number of bids at $18 to $18.30 for more than 370,000 shares.
Declines| The last traded price of stocks with losses, at the close of the main market are, Desnoes & Geddes ended with 4,021,000 units trading, as the price slipped 5 cents to $4.85, Gleaner closed with 600 shares trading 1 cent lower at $1. Jamaica Broilers finished with 2,000 shares trading at a loss of 8 cents to $4.02, Mayberry Investments closed with 178,267 shares trading 2 cents to $1.50, Proven Investments had 269,400 shares changing hands to close 0.20 cents at 17.30 US cents and Sagicor Group ended trading with 3,500 shares changing hands to close 9 cents to $9.91.
Preference| Jamaica Money Market Brokers 7.50% preference share ended trading with 194,400 shares at $2.
6 stocks trade on Junior market
November 21, 2014 by
Caribbean Cream traded at 71 cents. the company has now commissioned it blast freezer that is expected to cut energy cost & result in better frozen products
At the close of the market, there were 4 stocks with bids higher than their last selling prices and 4 stocks with offers that were lower. The junior market continues to be weak with 9 securities closing with no bids to buy. There were 5 securities that had no stocks being offered for sale.
Lasco Distributors ended trading with 184,500 shares changing hands, 3 cents higher at $1.48, Caribbean Cream concluded trading with 115,000 shares changing hands, to close at 71 cents. The company has now installed it blast freezer, that is expected to cut energy cost and allow for better frozen ice cream products. Caribbean Producers had 1,000 shares trading at $2, Consolidated Bakeries ended trading with 3,360 shares at 82 cents, Lasco Financial finished trading with 48,180 units to fall 5 cents to 90 cent, Lasco Manufacturing ended with 588,000 units as the price slipped 5 cents to $1.
Scotiabank continues recovery on TTSE
November 21, 2014 by
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Scotiabank continues to slowly recover from its recent low by putting in a moderate gain in trading on the Trinidad Stock Exchange on Friday, but closed with the bid above the closing price, with no stocks on offer. At the close of the market, 12 securities changed hands of which 4 advanced, 2 declined and 6 traded firm, with a total of 567,439 units, valued at $3,560,180 trading.
At the close of the market, the Composite Index rose 0.39 points to close at 1,142.92, the All T&T Index gained 0.79 points to close at 1,965.19 and the Cross Listed Index remained at 42 points.
Gains| Stocks increasing in price at the close of the market are, ANSA McAL with 1,230 shares, to close with a gain of 1 cent at $68.18, First Citizens Bank traded 3,356 shares to close with a gain of a cent, at $36.76. Scotiabank closed 4 cents higher, to $58.26 with only 150 units trading and Trinidad Cement with 45,000 shares traded for $91,725, to close with a gain of 3 cents, at $2.05.
Declines| The stocks declining at the end of trading are, Sagicor Financial Corporation 6.5% US$1 Convertible Redeemable Preference lost 3 cents to close at U$1.10 in trading 200,000 units for a 52 weeks’ low,
Firm Trades| Stocks closing with prices unchanged at the end of trading are, Bourse Brazil Latin Fund remained at US$9.50, after trading 1,729 shares. Clico Investment Fund with 13,759 shares valued at $309,578, ended at $22.50, Grace Kennedy added 34,042 shares valued at $130,721 at $3.84, National Commercial Bank Traded 200,000 shares valued at $230,000 to close at $1.15. National Enterprises with 9,000 shares, closed at $17.45, while One Caribbean Media with 20,200 shares closed at $25.10, Sagicor Financial Corporation contributed 37,463 shares with a value of $224,778 and West Indian Tobacco traded 1,510 shares to end at $121.
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 stock with the offer that was lower.
JMMB makes strong recovery in Q2
November 21, 2014 by
Profit for September quarter at Jamaica Money Market Brokers (JMMB) made a spirited recovery from the fall of 27 percent, in the June quarter to a more moderate 7 percent decline to reach $651 million from $697 million in September 2013. For the year to date, the decline is down to 17 percent to $1.2 billion.
Two main issues led to this performance, the main income generator, Interest income grew 20 percent in the quarter and 18 percent year to date but net interest income grew much more slowly at 14 percent and 12 percent respectively. Other revenues rose 37 percent in the September quarter and 33 percent for the six months but expenses jumped 45 percent in the quarter and 49 percent for the six months ending September this year, to $3.5 million. JMMB made some progress in cutting cost in the quarter but much more will be needed in the months ahead if the pace of increased cost is to be kept in line with or below the growth rate of income. “Expenses associated with the expansion of the Group through the acquisition of IBL accounted for $715 million (63 percent) of this increase and the remaining $421 (37 percent) is explained by costs associated with integration, growth in subsidiaries in the regional markets, increase in asset tax and normal inflationary increases,” Management states.
The banking segment had improved the results from $125 million in 2013 to $269 million in 2014, partially due to the acquisition of the Intercommercial Bank in October 2013, while financial and related services moved from $1.69 billion down to $1.25 billion.
Total assets grew from $172 billion in September last year to $224 billion in September, this year. The growth in asset is 10 percent or annualised at 20 percent since the fiscal year end in March. Equity stood at $20 billion at the end of September. The growth in assets is pretty strong and should result in strong increase in profits going forward.
JMMB stock last traded on the Jamaica Stock Exchange at $7 and on the Trinidad Stock Exchange at TT 45 cents.
J$ loses against US$ gains on others
November 20, 2014 by
The Jamaican dollar lost value against the US dollar but gained versus the Pound and Canadian dollar, on Thursday. Authorized dealers purchased the equivalent of US$24,125,862 versus US$33,277,310 on Wednesday, and sold the equivalent of US$22,806,454 compared with US$38,330,838 on Wednesday.
In US dollar trading, dealers bought US$20,663,189 compared to US$28,763,554 on Wednesday. The buying rate for the US dollar climbed 9 cents to $112.81 and US$20,336,084 was sold versus US$35,577,230 on Wednesday. The selling rate inched up 2 cents to end at $113.34. The Canadian dollar buying rate climbed $1.52 to $98.90 with dealers buying C$2,075,214 and selling C$1,501,345, at an average selling rate fell 55 cents, to $99.84. The rate for buying the British Pound dropped $1 to $174.86, for the purchase of £987,157, while £551,314 was sold, at $177.46, down 34 cents. Other currencies bought, amounted to the equivalent of US$113,196, while the equivalent of US$284,610, was sold.
Highs & Lows| The highest buying rate for the US dollar, closed 3 cents higher at $113.52, the lowest buying rate rose 16 cents to $92.85. The highest selling rate was unchanged at $118.98 but the lowest selling rate declined 50 cents to $110.50. The highest buying rate for the Canadian dollar is 10 cents higher at $100.30, the lowest buying rate fell 34 cents and ended at $79.51, the highest selling rate was unchanged at $102.93. The lowest selling rate dropped 40 cents to $95.80. The highest buying rate for the British Pound, rose 60 cents to $178.10. The lowest buying rate rose 58 cents to $142.84, the highest selling rate moved up $1.95 to $184.15 and the lowest selling rate gained 70 cents to $172.10.
9 up 6 down on JSE
November 20, 2014 by
Thursday’s activity on the Jamaica Stock Exchange, resulted in the prices of 9 stocks rising and 6 declining as 24 securities changed hands, ending in 4,155,612 units trading, valued at $38,853,829, in all market segments.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had 4 stocks with bids higher than their last selling prices and 4 stocks with offers that were lower.
Main Market| The JSE Market Index gained 80.66 points to 74,569.04, the JSE All Jamaican Composite index rose 90.19 points to close at 82,089.86 and the JSE combined index increased by 91.69 points to close at 76,481.10.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Gleaner finishing with 30,000 shares at 1 cent gain at $1.01, Jamaica Broilers with 2,330 shares changing hands, closed 9 cents higher to $4.10. Jamaica Money Market Brokers ended trading 664,120 ordinary shares and gained 40 cents to $7, Mayberry Investments saw trading in 230,000 units to close with a gain of 2 cents at $1.52, Pan Jamaican Investment ended with 3,000 shares rising 24 cents to $50.50 Sagicor Group closed with 183,270 units and put on 1 cent to $10 and Scotia Group finished trading with 269,756 shares at 30 cents higher at $19.70.
Firm| Stocks in the main market to close without a change in the last traded price are, Grace Kennedy with 12,394 shares to end at $60.50, Kingston Wharves with 23,000 shares at $6. Proven Investments had 7,097 ordinary shares, changing hands at 17.50 US cents and Sterling Investments concluded trading with 30,000 shares changing hands, to close at $134.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Cable & Wireless ended with 198,271 units as the price slipped 7 cents to 43 cents, Caribbean Cement closed with 2,500 shares trading 14 cents higher to $2.26, Margaritaville ended with 200 units, the price slipped 1 US cent to a 52 weeks, low of 10 US cents and National Commercial Bank closed with 978,842 shares trading, but lost 5 cents to $19.
Preference| Jamaica Money Market Brokers 8.75% preference share traded 273,624 units at $3.
8 junior market stocks trade
November 20, 2014 by
General Accident traded 551,733 units at $1.50.
At the close of the market, there was 1 stock with the bid higher than the last selling price and 2 stocks with offers that were lower. The junior market continues to show signs of weakness with 8 securities closing with no bids to buy. There were 5 securities that had no stocks being offered for sale at the close of the market.
Lasco Distributors closed with 47,970 shares trading 6 cents higher to $1.45, Lasco Manufacturing finished trading with 50,000 shares while gaining 5 cents to end at $1.05, Caribbean Cream had 40,000 shares changing hands, to close at 71 cents, Consolidated Bakeries concluded trading with 10,000 shares changing hands, to close at 82 cents, Derrimon Trading exchanged 20,000 shares in trading at $2.15 and Lasco Financial finished trading with 75,950 shares at 91 cents.
Caribbean Producers finished trading with 451,555 shares with a loss of 25 cents to $2 and General Accident traded 551,733 units to fall 3 cents to $1.50.
Witco jumps $1.96 as 9 stocks fell on TTSE
November 20, 2014 by
West Indian Tobacco closed $1.96 higher to a new 52 weeks high in trading on the Trinidad Stock Exchange, on a day when 16 securities changed hands of which 5 advanced, 9 declined and 2 traded firm, with a total of 997,076 units, valued at $6,925,563.
At the close of the market, the Composite Index rose 1.79 points to close at 1,142.53, the All T&T Index gained 3.42 points to close at 1,964.40 and the Cross Listed Index increased by a mere 0.02 points to end at 42.00.
Gains| Stocks increasing in price at the close are, Grace Kennedy contributed 78,458 shares with a value of $301,244, while gaining just 1 cent to $3.84, Republic Bank with 63 units at closed at $119.97 with a gain of 7 cents. Scotiabank gained 5 cents in trading 80 shares at $58.22, Trinidad Cement with 500 shares closed 2 cents higher, at $2.02 and West Indian Tobacco gained $1.96 to end the day at $121 while trading only 251 shares.
Declines| The stocks declining at the end of trading are, Ansa Merchant Bank traded 1,000 at $39.41 down by 1 cents and Massy Holdings fell 2 cents to close at $68.47.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, Clico Investment Fund with 100,340 shares valued at $2,260,353 closed unchanged at $22.50, Firstcaribbean International with 515,650 shares changing hands for a value of $2,578,250 closed at $5, First Citizens Bank traded 2,663 shares at $36.75. Guardian Holdings traded 1,000 units at $13.50, followed by Jamaica Money Market Brokers with 249,259 shares valued at $112,166, to close at 45 cents, National Commercial Bank with 5,000 shares ended at $1.15, One Caribbean Media added 15,225 shares valued at $382,147, to close at $25.10, Prestige Holdings traded 4,000 units at $9.56 and Sagicor Financial Corporation traded 8,997 shares to close at $6.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 4 stocks with the bid higher than their last selling prices and none with offers that were lower.
J$ gains loses value on Wednesday
November 19, 2014 by
The Jamaican dollar lost value against all three major currencies it regularly trades with, on Wednesday. Authorized dealers purchased the equivalent of US$33,277,310 versus US$31,456,476 on Tuesday, and sold the equivalent of US$38,330,838 compared with US$34,496,767 on Tuesday.
In US dollar trading, dealers bought US$28,763,554 compared to US$27,663,380 on Tuesday. The buying rate for the US dollar climbed 2 cents to $112.72 and US$35,577,230 was sold versus US$31,954,441 on Tuesday. The selling rate inched up 9 cents to end at $113.32. The Canadian dollar buying rate fell $1.34 to $97.38 with dealers buying C$1,031,476 and selling C$1,168,977, at an average selling rate that was up 78 cents, to $100.39. The rate for buying the British Pound gained $1.40 to $175.86, for the purchase of £1,888,280, while £771,755 was sold, at $177.80, up $1.36. Other currencies bought, amounted to the equivalent of US$676,80, while the equivalent of US$507,080, was sold.
Highs & Lows| The highest buying rate for the US dollar, closed 4 cents higher at $113.49, the lowest buying rate was unchanged at $92.69. The highest selling rate was up 21 cents to $118.98 but the lowest selling rate rose $16.66 to $111. The highest buying rate for the Canadian dollar was unchanged at $100.20, and so was the lowest buying rate that ended at $79.85, the highest selling rate closed 21 cents higher at $102.93. The lowest selling rate rose 20 cents to $96.20. The highest buying rate for the British Pound, dipped $1.25 to $177.50. The lowest buying rate and the lowest selling rate remained unchanged at $142.26 and $171.40 respectively. The highest selling rate moved down $3.45 to $182.20.
