Blog Page — Page 1421

TTSE: First Citizens up by $2.49

October 30, 2013 by IC Insider.com

Wednesday, 30th October 2013 | First Citizens Bank traded 15,556 shares valued at $551,915 increasing by $2.49 to end the day at $37.50 and had an offer at $37.49 cents at the end for 3.373 units. The price at these levels seems ahead of the market currently as demand really seems around the $35 level but supply is not great.

Trading on the Trinidad market was confined to 12 securities of which 3 advanced, 4 declined and 5 traded firm as investors picked up units 754,083 valued at $11,064,068.

Angostura Holdings fell 6 cents to close at $13.43 as 15,556 shares traded, Guardian Holdings suffered a 10 cents fall to close at $15.15 while trading 14,300 shares.

One Caribbean Media traded 504,000 shares for a value of $9,172,800 as it closed up 10 cents at $18.20; National Flour Mills had 121,000 shares traded for $114,950; Point Lisa Port development traded 5,650 units unchanged at $3.77; Republic Bank traded 1,135 units to close at $112.35 down 65 cents. Scotia Investments contributed 41,096 shares with a value of $80,127 as it traded down a cents at $1.95 and Trinidad Cement traded 10,000 units firm at $2.35.

Clico Investment Fund traded 30,321 shares valued at $651,829 and closed firm at $21.50.

IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator showed bids for 3 stocks being higher and 5 stocks with offers lower than their last selling price.

FX: More selling than buying

October 29, 2013 by IC Insider.com

Tuesday, 29th October 2013 | Trading in the forex market resulted in the equivalent of US$26,900,375 being purchased by dealers and $29,404,180 being sold.

Trading in US dollars showed more selling than buying with US$23,073,680 being bought at an average rate of $104.45, up 7 cents and US$26,171,118 being sold at $105.05, up a cent on the day, C$1,142,152 was bought at 31 cents more to end at $99.14 and C$1,895,221 was sold at $102.03 up by $1.23. £1,510,755 was bought with the rate falling 83 cents at $167.51 and £744,001 was sold at $169.83 up 13 cents.

Highs & Lows | The highest buying rate for the US dollar was $105.90 down 40 cents and the lowest was unchanged at $85.17; the highest selling rate increased by 21 cents to $109.35 and the lowest jumped $16.83 to $102.00.

The highest rate for the Canadian dollar was 60 cents lower at $101.40; the lowest was unchanged at $79.93 while the highest selling was 50 cents up at $104.00 as the lowest remained unchanged at $96.30.

The British Pound went down by 25 cents at $170.75 for the highest buying rate and down 24 cents for the lowest buying rate at $135.71; selling was 33 cents lower at $174.94 for the highest selling rate and $27.55 more for the lowest at $163.50.

Filed Under: FX Market, Stock Market Tagged With: Daily Trading, FX Market, Trading Activity

JSE: Low participation

October 29, 2013 by IC Insider.com

Tuesday, 29th October 2013 | The main indices show the Jamaica Stock Market falling sharply but there was a big improvement in the number of stocks advancing versus those that declined, from 5 and 15 on Monday to 4 advancing and 7 declining on Tuesday.

Unlike Monday, when the main indices climbed, the main market index was down 987.61 to 81,675.46 and the all Jamaica index closed at 79.401.38 down by 1,737.69, the junior market index also reflecting low investors’ interest sat at 743.05, a decline of 9.98. The amount invested in the market dropped to a low of just $10.8 million while trading only 2.7 million shares.

Main Market | The level of trading was low in both the junior and main markets with only the preference share segment showing any serious volumes as Berger Paints saw trading in 10,000 units to close at $2.16; Desnoes & Geddes had 38,690 shares changing hands as it traded firm at $4.50; Gleaner had trading in 54,350 units at $1.11; Jamaica Broilers 16,522 units traded up 4 cents to close at $4.26. Jamaica Money Market Brokers traded 18,600 units at $8.1;, Kingston Wharves 17,226 units traded at $5.58; Mayberry Investments traded 89,821 at $2.15; Sagicor Life had just 9,000 units trading at $8.10; Scotia Group exchanged 28,864 units to close at $20 for a 10 cents gain while Scotia Investments saw just 11,800 unis going for $26.01 and Supreme Ventures 122,000 units went for $2.55.

In the preference segment, Jamaica Money Market Brokers 8.75% traded 134,500 units firm at $3 followed by Proven Investments 8%, 1,308,314 units, down a cent at $5.08.

Junior Market | Trading in the juniors was low as Access Financial Services put in a nice little volume of 55,000 units at $8.29, down by 11 cents; Blue Power Group lost some altitude, by 22 cents in trading 9,753 units to close at $9.28 while newly listed Caribbean Flavours figured with 9,860, as it closed down 10 cents at $2.55. Lasco Distributors put in a good volume of 700,703 units to close at $1.45 being down by 4 cents and Lasco Manufacturing 68,300 units cost $1.45 each at the end of trading.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator is showing a market that is moving sideways for a while, with bids for 5 stocks being higher and 4 stocks with offers lower than their last selling price.

Filed Under: JSE Main Market, Stock Market Tagged With: Daily Trading, JSE Company, Trading Activity

TTSE: Trading picked up

October 29, 2013 by IC Insider.com

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Tuesday, 29th October 2013 | Trading picked up on the Trinidad & Tobago Stock Exchange with 371,463 shares crossing the floor valued at $6,180,176 as 14 securities changed hands of which 4 advanced, 3 declined and 7 traded firm.

One Caribbean Media traded 200,000 shares valued at $3,639,650 but the price fell 10 cents to $18.20; Trinidad Cement gained 15 cents while closing at $2.35 with a volume of 43,076 shares traded for $101,227; Jamaica Money Market Brokers contributed 33,000 shares with a value of $20,610; First Caribbean International Bank traded 8,290 units firm at $6.75; First Citizens Bank traded 16,926 units firm at $35.00, while National Commercial Bank added 18,839 shares valued at $20,911.29. Neal $ Massy gained 3 cents $57.55; Republic Bank gained 68 cents to end the day at $113 while trading just 4,926 shares; Scotia Investments traded 9,904 firm at $1.95; Scotiabank traded 6,741 up a cent at $71.51

Clico Investment Fund traded 24,740 shares valued at $531,910 with the price remaining a $21.50.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed bids for 5 stocks being higher and 3 stocks with offers lower than their last selling price.

Image courtesy of Photokanok/FreeDigitalPhotos.net.

Filed Under: Stock Market, TTSE Market Tagged With: Daily Trading, Trading Activity, TTSE

Dividends consideration

October 29, 2013 by IC Insider.com

The Board of Directors of Jamaica Money Market Brokers will consider an ordinary dividend payment at a meeting to be held on Monday, November 11, 2013. The last dividend paid was 10 cents per share on March 28, 2013. Last year December, a dividend of 13 cents per ordinary share was paid.

JMMB is an IC Insider Buy Rated Stock.

The Board of Directors of Desnoes & Geddes on Friday, November 1, 2013 will consider the payment of a first interim dividend for the year 2013/14. The company paid dividend relating to the 2013 fiscal year of 10 cents per share on June 25, 2013. In December last year there was an interim payment 20 cents per share.

The Board of Directors of Carreras will consider a dividend declaration at a meeting to be held on November 6, 2013. Carreras paid a dividend of $1 per share in August, down from $1.50 in 2012 flowing form a decline in profit in the June quarter.

Filed Under: Company News, Dividends Tagged With: Dividends, JSE Company

FX: Buying & selling even

October 28, 2013 by IC Insider.com

Monday, 28th October 2013 | Buying and selling of foreign currencies was even on the first trading day of the week as dealers bought the equivalent of US$33,264,845 and sold US$32,464,095.

Buying of the US dollar amounted to US$29,604,479 as the rate fell 23 cents to $104.38 and they sold US$29,537,504 as the rate declined 3 cents to $105.04. Dealers bought C$1,535,427 as the rate was down 60 cents to $98.83 and sold C$1,184,509 at $100.80 down 2 cents. Buying of the Pound sterling amounted to £1,179,724 at $167.38, down 30 cents and the amount sold was £994,357 at $170.66 up 47 cents

Buying rates went as high $106.30 up 30 cents and as low as $85.17 unchanged for the US dollar, with no change for the highest and lowest selling rates of $109.14 and $85.17 respectively. The Canadian dollar was bought for 50 cents less than on Friday at $102.00 and the lowest at $79.93, down 25 cents as the highest selling rate fell 60 cents to close at $103.50 and the lowest fell by 30 cents to end at $96.30.

The British Pound was 50 cents cheaper at the high end of buying at $171.00 and 24 cents higher for the low of $135.95 while selling resulting in a $2.43 jump to $175.27 but the low fell by $27.55 to $135.95.

Filed Under: FX Market, Stock Market Tagged With: Daily Trading, FX Market, Trading Activity

JSE: Index up but . . .

October 28, 2013 by IC Insider.com

Monday, 28th October 2013 | The main indices climbed today on the Jamaica Stock Exchange but there was a big negative signal with the number of stocks advancing versus those that declined by 5 to 15.

The main indices climbed with the main market index closing up 508.35 to 82,663.07 and the all Jamaica index closed at 81,139.07 up by 894.43, the junior market index, also reflecting low investors interest, sat at 753.03, a decline of 6.75. The amount invested in the market remained low with trading of 3.92 million shares valued at $28.17 million.

Main Market | The level of trading was low in both the junior and main markets with only the preference share segment showing any serious volumes as Carreras had 125,650 units changing hands to close firm at $40; Ciboney traded 1,480,598 units at 5 cents, up 2 cents at the end of trading. Desnoes & Geddes had 135,885 shares changing hands at $4.50 down 2 cents; Jamaica Broilers had 12,704 units traded to close firm at $4.22; Jamaica Money Market Brokers traded 13,095 units firm at $8.12; National Commercial Bank traded just 3,600 shares at $18, down 45 cents; Proven Investments US dollar based ordinary shares traded 299,471 units and the price was unchanged at just under 12 US cents; Sagicor Investments had just 11,371 units trading at $15.66; Scotia Group exchanged 704,433 units to close at $19.90 for a 10 cents fall.

In the preference segment. Jamaica Money Market Brokers 8.75% traded 42,000 units at $3 followed by Jamaica Money Market Brokers 7.5% which traded 460,000 units at $2 and Proven Investments 8%, 243,460 units at $5.09.

Junior Market | Trading in the juniors was low as General Accident traded a volume of 20,000 units at $1.61, down by 9 cents. Caribbean Flavours had a volume of 21,355 units as it closed down 5 cents at $2.65; Lasco Distributors put in a volume of 88,910 units to close at $1.49 down by a cent and Lasco Manufacturing 154,369 units cost 4 cents less at $1.46 at the end of trading.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator is showing a market that is moving sideways for a while, with bids for 5 stocks being higher and 6 stocks with offers lower than their last selling price.

Image courtesy of Photokanok/FreeDigitalPhotos.net.

Filed Under: JSE Main Market, Stock Market Tagged With: Daily Trading, JSE Company, Trading Activity

TTSE: A moderate day

October 28, 2013 by IC Insider.com

Monday, 28th October 2013 | Trading was very moderate even as 13 securities traded of which 2 advanced, 4 declined and 7 traded firm, however, just 118,270 shares changed hands valued at $1,296,414.

In trading, Jamaica Money Market Brokers exchanged 49,600 shares changing hands for a value of $32,740 as the price fell 5 cents to close at $0.66; Trinidad Cement chipped in with 15,000 shares valued at $33,000 as the price remained unchanged at $2.20; National Flour Mills traded firm at 95 cents while contributing 6,000 shares with a value of $5,700, while National Commercial Bank added 5,333 shares valued at $5,920, traded down 3 cents to end at $1.11. Neal & Massy traded 3,951 units 2 cents higher at $57.52. Republic Bank gained 14 cents to end the day at $112.32 while trading just 100 shares while Sagicor Financial traded 3,479 units unchanged at $7.25.

Clico Investment Fund remained at $21.50 while trading 26,256 shares valued at $564,504.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed bids for 4 stocks being higher and 4 stocks with offers lower than their last selling price.

Filed Under: Stock Market, TTSE Market Tagged With: Daily Trading, Trading Activity, TTSE

Profit up 92% for Eppley

October 28, 2013 by IC Insider.com

Recently listed Eppley Limited released results for the quarter ending September with profit almost doubling from $12 million to $23 million for the nine months and with profit of $9.8 million in the 2013 September quarter compared to $6.3 million in 2012. These figures contrast with the full year’s earnings for 2012 of $15 million.

The improvement in the latest quarter came primarily from tax reduction due to the tax free status junior market companies enjoy for 5 years. It was also helped by a $3 million increase in other income which had grown to $5.9 million. Interest income declined in the quarter from $20.5 million in the 2012 quarter to $14.9 million in the latest quarter but a reduction in interest expense to $1.3 million versus $7.2 million took effect as a result of conversion of some debt to equity and some that was paid off resulted in a slight improvement in net interest income. Income from interest in the nine months amounted to $45 million which is down from $59 million in the similar period of 2012.

Loans due from customers shrunk from $509 million last year September to $308 million in 2013. Post September, loans would have increased as the company reported having $33 million in uncommitted cash on hand compared with $121 million in actual cash on the books at September. Loans payable amounted to $109 million at the end of September and is down from $361 million at the end of September last year.

Earnings per share for the September quarter is $13.43 and for the nine months period $48.19. The company reports that yield on the total assets is 14 percent per annum, if this is maintained then the company which has 796,000 issued shares should end up in a full year with approximately $40 per share in profits. But then the company is seeking to raise added capital from a preference share issue, which if successful, will provide increased profits as the funds will allow them to provide loans at higher rates than the capital cost of the funds to be raised.

The company will hold an extraordinary general meeting this coming Thursday to seek approval of a resolution to create and offer up to 100 million preference shares to raise added capital.

The IPO prospectus stated that the board expects to distribute not less than 50% of its after-tax earnings to shareholders in the form of cash dividends, with the projected earnings that would translate to about 5 percent return.

Filed Under: Company News, Company Results Tagged With: Eppley, JSE Company

FX: Rates topped out on Friday

October 25, 2013 by IC Insider.com

Friday, 25th October 2013 | There were signs of softening of rates for the purchase of foreign currency as evidenced in an across the board reduction in the maximum and minimum buying and selling rates except for the US dollar that had virtually no movement.

The move suggests that traders are somewhat cautious in buying at high rates, which should dampen the average selling rate going forward. Additionally, trading on Friday resulted in more buying than selling of foreign currencies by nearly US$11 million. Total forex purchased by dealers amounted to the equivalent of US$40,941,378 while US$30,097,925 was sold to the public.

The highest and lowest buying rate as well as the highest selling for the US dollar remained unchanged at $106.00, $85.17 and $109.14 respectively, but the lowest selling rate dropped $2.02 to end at $85.17.

The highest buying rate for the Canadian dollar remained the same as on Thursday at $102.50 but the lowest went down by 45 cents to $80.18. At the same time, the highest selling rate slipped 65 cents to $104.10 and the lowest was down $1.75 to $96.60.

The British Pound was bought as high as $171.50 a $1 reduction and was as low as $135.71, just 8 cents down, while selling was as high as $172.84, down $2.43 and as low as $163.50, off by just 10 cents.

There was purchasing by dealers of US$37,825,365 with the rate moving up 10 cents to $104.61 and the amount sold was US$28,190,795 at 7 cents up at $105.07. There was buying of C$1,153,658 for 42 cents less at $99.43 than on Thursday and selling of C$647,353 at a rate of 70 cents lower at $100.82. Pound purchases amounted to £1,170,706 at 24 cents down at $167.68, selling £644,752 was for $170.186, for 27 cents increase.