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JSE: Carreras drop hits market

October 9, 2013 by IC Insider.com

Wednesday, 9th October 2013 | The Jamaica stock market continued its negative run since last Thursday as the prices of 15 stocks fell to only 6 that recorded gains, a slight improvement over the prior day when 16 fell and 5 advanced.

The day saw Jamaica Broilers with 2,196,944 units carrying a value of $10 million trading as the price closed at $4.55 up 3 cents on the day. Carreras, which traded 34,900 units, fell to $43.13 at the close, down $1.86 and Sagicor Life traded 27,645 units to close at $8.51 down 49 cents were the main factors behind the main market decline. There were 4,676,458 units changing hands with a value of $19.46 million.

The JSE main index closed at 83,662.33 a decline of 431.03; the all Jamaica Index fell to 82,897.26 off by 758.40 and the junior market fell 6.52 to 749.01.

Main market | Infrequent trader, Berger Paints, traded 131,000 units to close at $2.25, down a cent; Gleaner Company exchanged 52,000 units to close firm at $1.15; Grace Kennedy traded 40,140 units resulted in the price closing at $56.75, for 55 cents increase. Jamaica Money Market Brokers saw 19,682 units traded firm to close at $8; National Commercial Bank traded 18,600 units to close firm at $18.50; Pan Jamaican Investment traded 166,500 units valued at $8,158,713 to close at $49; Sagicor Life traded 33,401 units down 49 cents to close at $8.51; Scotia Group traded 36,145 units to close at $21, up by 50 cents; Supreme Ventures lost a cent to close at $2.72 with 28,986 shares.

Jamaica Money Market Brokers 7.5% preference shares traded 440,000 units unchanged at $2 and traded 100,000 units of the 8.75% preference shares firm at $3. Proven Investments 8% preference share traded 40,115 units to closed firm at $5.09.

Junior market | Blue Power exchanged 20,191 units to close firm at $9.29; Cargo Handlers lost 70 cents to close at $13 while trading 610 units; Caribbean Producers traded 237,411 units down a cent to close at $2.08; General Accident Insurance traded 12,500 units to close at $1.61; Honey Bun dropped 36 cents to close at $3.05 with 41,410 units. Lasco Distributors lost 3 cents with 389,855 units to close at $1.45; Lasco Financial Services traded 183,032 units to close down a cent at $1.19 and Lasco Manufacturing traded 214,241 units to close firm at $1.50.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed the market weakening with bids for 2 stocks being higher and 4 stocks with offers lower than their last selling price.

Image courtesy of Photokanok/FreeDigitalPhotos.net.

TTSE: Republic Bank set to rally?

October 9, 2013 by IC Insider.com

Wednesday, 9th October 2013 | Republic Bank seems poised to break out even as it traded just 389 units unchanged at $110.05 on the Trinidad Exchange. There was demand for 46,879 units on the bid at $110.05 with no stock offered at the close of trading, suggesting that the price is set to rise as the valuation based on PE is just 15 compared with more than 22 for both Scotia and First Citizens Bank.

Trading continues to be low on the Trinidad & Tobago Stock Exchange as market activity resulted in trading in 13 securities of which 3 advanced, 4 declined and 6 traded firm with 464,217 units valued at $5,961,096. National Enterprises closed at a 52 weeks high of $17.04 but with a very small volume.

Recently listed First Citizens Bank traded 14,436 units valued at $505,260 to close firm at $35; Guardian Holdings suffered a loss of 50 cents to close at $15 as 1,457 units were traded; Jamaica Money Market Brokers saw 196,280 shares changing hands for a value of $108,294 as it closed down a cent at 55 cents; Point Lisas with 31,000 shares worth $117,800 increased by 5 cents to end the day at $3.80. Neal & Massy Holdings contributed 24,903 shares with a value of $1,407,329 to close firm at $56.50, while National Flour Mills added 18,500 shares valued at $16,835 and closed at 91 cents after losing a cent on the day.

Clico Investment Fund in posting a volume of 172,060 shares valued at $3,666,932 declined by 12 cents to end at $21.31.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed the market in a sideways movement with bids for 3 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

T&T economy growing

October 9, 2013 by IC Insider.com

As reported by the Central Bank of the twin island state of Trinidad & Tobago, real GDP and economic activity is estimated to have expanded at an average rate of 1.7 per cent (year-on-year) for four successive quarters to June 2013, compared with a contraction that averaged 1.6 per cent in the preceding four quarters.

“The turnaround was driven by the non-energy sector where output rose at an average pace of nearly 2 ½ per cent in the four quarters to end-June 2013. The energy sector expanded at a much slower average rate of 0.7 per cent (year-on-year) in the period, as intensified maintenance work and security upgrades posed a severe drag on the sector’s performance.

The central bank went on to state that, “There are encouraging signs that the domestic economy appears to be on a path of recovery, as evidenced by four consecutive quarters of slow but steady year-on-year growth from July 2012 to June 2013. Growth has been mainly driven by the non-energy sector and this trend is expected to continue into the second half of 2013 as the planned maintenance of gas and downstream plants, which began in September 2013, is likely to impact the performance of the energy sector.”

The central bankers expressed concern, about the eight successive months of decline in business lending to July 2013 and elevated liquidity levels, both of which reflect continued caution on the part of the private sector. Against this backdrop, the Central Bank views the present accommodative monetary policy stance as appropriate to support the ongoing recovery and has decided to maintain the ‘Repo’ rate at 2.75 per cent.

The Central Bank said it will continue to nurture financial conditions supportive of the recovery, while keeping economic and monetary conditions under close review in the coming months.

Related posts | IMF predicts 1.5% growth for T&T

Filed Under: Economy Tagged With: Economy, Trinidad & Tobago

NIR up in September

October 9, 2013 by IC Insider.com

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The Jamaican dollar has been undergoing a depreciation since May after a brief revaluation but the net international reserves actually climbed at the end of September compared with August of this year.

Net International Reserves at the end of September amounted to US$910 million, up $28.54 million over the August figure of US$881.6 million. It is not clear where the increase came from. The central bank is projecting that the NIR will remain around these levels until year end.

The reserves translate to 14.96 weeks of Goods Imports and 11.22 weeks of Goods & Services Imports at the end of August and for September was 15.10 weeks and 11.4 weeks respectively.

Related posts | NIR down but so is IMF debt | NIR surpasses $1 billion

Filed Under: Economy, FX Market, Stock Market Tagged With: BOJ, Economy, FX Market, NIR

JSE: Poor run continues

October 8, 2013 by IC Insider.com

Tuesday, 8th October 2013 | The Jamaica Stock Market continued its recent negative run on Tuesday as the prices of 16 stocks fell to only 3 that recorded gains. The day saw Scotia Group with 8,073,038 units carrying a value of $165,517,642 trading as the price closed at $20.50, down 50 cents on the day. There were 12,893,800 units changing hands with a value of $195.44 million.

The JSE main index closed at 84,093.36 a decline of 178.23, the all Jamaica Index fell to 83,655.66, off by 313.60 and the junior market was up by 24.05 to 755.53.

Main market | On one of the days with high level of participation, infrequent trader Berger Paints swapped 463,361 units to close at $2.26 for a value of $1,042,288; Carreras that is under pressure based on drop in sales and negative views about the recent and poorly executed smoking ban saw just 9,698 shares changing hands with a value of $436,276 as the price closed at $44.79, down by 21 cents. Caribbean Cement gained 12 cents to close at $2.05 on 14,542 units; Desnoes & Geddes’ 62,616 units resulted in the price closing at $4.51, being down a cent; Gleaner Company that has been having pressure on its profit exchanged 1,070,850 units valued at $1,262,978 to close at $1.15, down by a cent; Jamaica Broilers lost 8 cents while trading 15,330 units to close at $4.52; Jamaica Money Market Brokers saw 100,000 units valued $800,000 traded as the price closed at $8, up 10 cents.

National Commercial Bank traded 79,771 units valued at $1,475,786 to close at $18.50 and lost 50 cents; Pan Jamaican Investment traded 166,500 units valued at $8,158,713 to close at $49; Sagicor Investments traded 177,490 units with a value of $2,937,460 to close at $16.55 down by 45 cents. Sagicor Life traded 27,645 units to close at $9; Scotia Investments traded 25,360 units to close at $26.18, down by 8 cents; Seprod traded 400,000 units with a value of $5,560,000 to close at $13.90 down 10 cents; Supreme Ventures gained 18 cents to close at $2.73 with 12,400 shares; Proven Investments 8% preference shares traded 1,034,140 units valued at $5,263,773 to close firm at $5.09.

Junior market | Caribbean Cream exchanged 20,000 units to close firm at $1; General Accident Insurance lost ground as 14,000 units traded to close at $1.61, down by 29 cents; Lasco Distributors lost 2 cents with 29,325 units to close at $1.48; Lasco Financial Services traded 1,005,106 units to close down 5 cents at $1.20 and Lasco Manufacturing traded 40,512 units to close at $1.50, down 5 cents.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed the market in a sideways movement with bids for 5 stocks being higher and 5 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: Angostura at 52 weeks high

October 8, 2013 by IC Insider.com

Tuesday, 8th October 2013 | The volume of trading picked up and so was the amount invested on the Trinidad & Tobago Stock Exchange as there was trading in 10 securities of which 4 advanced, 2 declined and 4 traded firm. Trading activity accounted for a volume of 477,551 shares valued at $8,032,797. There were two stocks that hit 52 weeks high, Angostura Holdings at $11 and National Flour Mills at 91 cents.

Trading picked up for First Citizens resulting in 172,905 shares changing hands for a value of $6,051,857 as the price closed at $35; National Flour Mills traded 113,561 units valued at $104,074 and closed up 5 cents to 91 cents a new 52 weeks high; Scotia Investments Jamaica contributed 55,000 shares with a value of $107,250, as the price closed firm at $1.95 while Trinidad Cement added 48,247 shares valued at $103,731 and the price remained unchanged at the end of trading. Sagicor Financial Corporation exchanged 5,197 shares for a value of $37,678 as the price closed unchanged at the end of the day at $7.25.

Angostura Holdings exchanged 4,639 units as the stock traded at a new 52 weeks high of $11 by gaining 50 cents for the day. Clico Investment Fund posted a volume of 64,899 shares valued at $1,390,999.47 as the price declined by $0.04 to end at $21.43.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed the bids for 3 stocks being higher and 2 stocks with offers lower than their last selling price.

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

JSE: Pan Jam dominates

October 7, 2013 by IC Insider.com

Monday, 7th October 2013 | Trading on the Jamaica Stock Exchange was dominated by Pan Jamaican Investment Trust with 2,337,726 shares valued at $114,570,615 to close at $49, down $1.01.

The market started the week on a losing note as 10 stocks fell with 5 advancing resulting the market indices falling except for the Junior market. The JSE main index closed at 84,271.59, a decline of 128.23; the all Jamaica Index fell to 83,969.26 off by 225.63 and the junior market was up by 10.35 to 779.58. Trading volume climbed to 7,493,963 units at a value of $162,072,928.

Apart from Pan Jam, Grace Kennedy had a good volume of 506,967 units costing $28,390,506 with the price ending at $56 down 50 cents and National Commercial Bank had 475,649 units valued at $8,808,290 to close at $19 for a loss of 33 cents. Grace traded at the equivalent of $63 in Trinidad on Monday, quite a difference from the $56 price trading in Kingston.

Barita Investments exchanged 501,500 units as the price closed at $2.40 down by 9 cents valued at $1,203,600; Cable & Wireless 34,200 traded firm at 18 cents; Carreras only had 1,400 trading down 10 cents to $45; Caribbean Cement 3,500 units to trade to close at $2.01 down 19 cents; Gleaner 33,720 $1.16, down a cent; Jamaica Broilers Group 5,492 units $4.60 up 8 cents; Jamaica Money Market Brokers traded 41,551 units at $8 valued at $327,369 as the stock lost 20 cents during trading; Mayberry Investments contributed 607,886 units that traded firm at $2.60 for a value of $1,580,504; Radio Jamaica traded 1,542,283 units to close at $1.31, down 9 cents, carrying a value of $2,021,864; Scotia Group exchanged 35,473 units to close firm at $21 valued at $744,943; Jamaica Money Market Brokers 8.75% traded 1,000,000 units at $3 for a value of $3,000,000; Proven Investments 8% preference shares traded 124,000 units firm at $5.09 valued at $631,160. Sagicor Investments gained 45 cents to land at $17 with 3,119 units changing hands.

Junior Market | Caribbean Cream traded 38,903 traded firm at $1; Caribbean Producers chipped in with 30,000 units to close firm at $2.09; Dolphin Cove gained 65 cents to close at $8.65 with only 1,115 units; KLE Group fell to another all-time low with 10,000 shares changing hands at $1.40 down 21 cents; Lasco Distributors only traded 10,515 units trading to close at $1.50 up by a cent; Lasco Financial Services traded 16,612 firm to close at $1.25 and Lasco Manufacturing traded 53,073 units firm at $1.55.

IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator showed a slight bias to lower prices for some stocks with bids for 6 stocks being higher and 7 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 levels drop again

October 7, 2013 by IC Insider.com

Monday, 7th October 2013 | The prices of three stocks hit new 52 weeks high on Monday on the Trinidad & Tobago Stock Exchange as there was trading in 13 securities of which 5 advanced, 1 declined and 7 traded firm.

There was trading in 192,629 shares valued at $2,939,673. First Citizens Bank contributed 20,753 shares with a value of $726,606, while Jamaica Money Market Brokers added 8,500 shares valued at $4,675; Prestige Holdings closed firm at $9.40 with 4,051 units; Sagicor Financial Corporation exchanged 50,000 shares for a value of $362,380; Scotia Bank traded 5,483 units to close at a 52 weeks high of $70.25, an increase of 20 cents; Trinidad Cement with 41,039 shares being traded for $88,234.

Grace Kennedy traded 1,000 shares to close at $3.80, an increase of 29 cents as the closing price ended at the equivalents of JS$63 while it traded at J$56 on Monday on the Jamaica Stock Exchange. Conversely, Scotia Investments declined by 4 cents to end the day at $1.95 as a mere 209 shares changed hands.

Clico Investment Fund had 60,080 shares changing hands valued at $1,290,203 as the price advanced by 16 cents to end at $21.47.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed the bids for 5 stocks being higher and 2 stocks with offers lower than their last selling price.

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

Buy Rated: Some gains, some losses

October 6, 2013 by IC Insider.com

Since we last looked at the performance of our IC Insider Buy Rated Stocks two weeks ago on 23rd September 2013, there have been some gain and losses. It’s been a full three months since we boldly started to ‘name names’ and now is the right time to do a full recap to see how we’re doing — or not!

Of the eleven Buy Rated stocks on the Trinidad & Tobago Exchange, only two are down, namely Guardian Holdings, off 5 percent and Neal & Massy 4 percent. Trinidad Cement is up 115% and still has room to grow based on its PE Ratio. First Citizens scored a whopping 52% for the short one month timeframe it made the list. Grace Kennedy is up 9 percent, JMMB 10 percent, Sagicor Financial 7 percent and Scotia Investment 6 percent.

So far, Buy Rated selections listed on the Jamaican market are not as successful with no gains to speak about. Meanwhile, Lasco Financial is down 19 percent and Jamaica Broilers is off by 14 percent.

It’s still early days yet. The Buy Rated selections are meant to identify stocks that will do well over the next twelve months. Short term pull backs are not negatives and are in fact buying opportunities for the serious investor.

The IC Insider’s Buy Rated seal of approval is given to a stock that we believe is a compelling buy with earnings that are strong relative to the price and strong prospects of generating high price gains within the next twelve months.

Our research is backed by published reports of the company’s performance and insights of future earnings that can be found at ICInsider.com. The final decision to buy, or not, is your personal choice.

To find published reports for a Buy Rated stock on IC Insider, please choose the category ‘Buy Rated’ under Company News or enter the company name, in full or part at ‘Search IC Insider’.

Filed Under: Company News, JSE Main Market, Stock Market, TTSE Market Tagged With: TTSE

Big gains in Ghana Stocks

October 6, 2013 by IC Insider.com

The Ghana Stock Market is up 68 percent for the year to the end of September, even as interest rates were raised from 11 percent to 21 percent on T-bills in response to depreciation of the local currency. The increase in T-bill rates took effect last year and for most of 2013.

Ghana’s economy grew by 7.9 percent last year and is projected to grow 7 percent in 2013, this according to the statement made by the International Monetary Fund on Wednesday. Notwithstanding the forecast for strong growth, the funding agency said, “It will be difficult for Ghana to keep its budget deficit below 10 percent this year.” However, the government says its deficit will fall to 9 percent this year from 12.1 percent in 2012.

One key risk for the economy of Ghana, an exporter of cocoa, gold and oil, is its current account deficit, which will rise to 13 percent of gross domestic product this year, the IMF said.

Headline inflation stayed within the target range of 8.5 per cent ± 2 per cent in 2012 but has climbed to 11.5 percent in August this year. Monetary policy faced a major challenge of dealing with a rapidly depreciating currency in the first half of 2012. Monetary policy was tightened thus moving rates from 11 percent to 21 percent on Treasury Bills. The exchange rate slipped from 1.64 cedi to the US dollar to 2 cedi to the US dollar.

It against this background that several stocks listed on the Ghana Stock Exchange recorded sharp gains with 7 gaining more than 100 percent with the star performer being PZ Cussons, a company that manufactures and distributes soaps and electricals, rising 400 percent and Enterprise Group, a business development and management consultancy company, rising by 298 percent.