The Jamaica Stock Exchange US dollar market closed on Wednesday, with the volume of stocks traded declining 39 percent with a 22 percent lower value than on Tuesday, resulting in an exchange of seven securities, up from five on Tuesday with prices of five rising, one declining and one ending unchanged.
The market closed with an exchange of 341,763 shares for US$37,023 down from 559,013 units at US$47,507 on Tuesday.
Trading averaged 48,823 shares at US$5,289 compared to 111,803 shares at US$9,501 on Tuesday, with a month to date average of 151,112 shares at US$5,366 compared with 165,724 units at US$5,376 on the previous day and August that ended with an average of 297,880 units for US$8,245.
The US Denominated Equities Index slipped 0.90 points to end trading at 235.65.
The PE Ratio, a popular measure used to determine appropriate stock values, averages 8.2. The PE ratio is calculated based on last traded prices divided by projected earnings computed by ICInsider.com for companies with financial year ending around August 2025.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Proven Investments popped 0.05 of a cent to finish at 10 US cents in an exchange of 33,307 stocks, Sterling Investments skidded 0.01 of a cent to 1.6 US cents with investors trading 60 units, 
Sygnus Credit Investments increased 0.01 of one cent to close at 7 US cents after a transfer of 46,000 shares and Transjamaican Highway climbed 0.2 of a cent to end at 2.2 US cents with 238,309 stock units clearing the market.
In the preference segment, JMMB Group US8.5% preference share ended at US$1.05 in trading 24,079 shares, JMMB Group 5.75% rose 13 cents and ended at US$1.98 with 7 stocks changing hands and Sygnus Credit Investments E8.5% advanced 78.89 cents to US$10.29 after an exchange of just one unit.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading drops on JSE USD Market
Second monthly decline for Jamaica’s tourism
The best short term indicator of the health of Jamaica’s tourism sector can be gleaned from data released by Grupo Aeroportuario del Pacifico, operators of Jamaica’s two major airports showing a 9.4 percent drop to 424,600 passengers coming and going out of the island in August this year, from 468,600 handled in August 2023. The fall in August is far less than the near 14 percent decline in July.
At the same time, Kingston’s Norman Manley Airport, handled 1.8 percent more passengers in August this year, with 199,500 passing through the airport up from 196,100 in August 2023.
For the first eight months of the year, the Montego Bay Airport saw total passenger movements decline 0.8 percent to 3,610,300 in 2024 from 3,639,100 in the first eight months of 2023, while total passenger movements fell by 1.6 percent. Kingston’s Norman Manley International Airport had handled 1,189,300 passengers down from 1,208,100 in the first eight months of 2023.
The decline in arrivals will affect various linkage industries negatively with less business. These include farming, with products such as eggs, pork, chickens, vegetables, fruits, juices and liquor. Also affected are attractions such as Dolphin Cove, Dunns River Falls, ground transportation, water, electricity, workers’ wages and gratuities. This means less money will be spent in the communities impacted by tourism, while Government will collect less taxes from the sector.
Money entering the JSE market doubles
The Main Market index of the Jamaica Stock Exchange rose in trading on Wednesday, the Junior Market and JSE USD market closed moderately lower as trading picked up with the number of stocks traded rose, with the value more than doubling Tuesday’s level, resulting in prices of 32 shares rising and 44 declining.
At the close of trading, the JSE Combined Market Index jumped by 1,103.13 points to 322,303.78, the All Jamaican Composite Index dropped 1,070.54 points to end at 348,403.02, the JSE Main Index climbed 1,228.28 points to close at 309,304.36. The Junior Market Index shed 9.94 points to conclude trading at 3,698.58 and the JSE USD Market Index dipped 0.90 points to conclude trading at 235.65.
At the close of trading, 17,759,242 shares were exchanged in all three markets, up from 16,138,546 units on Tuesday, with the value of stocks traded on the Junior and Main markets amounted to $154.3 million, well over the $77 million on the previous trading day and the JSE USD market closed with an exchange of 341,763 shares for US$37,023 compared to 559,013 units at US$47,507 on Tuesday.
In Main Market activity, NCB Financial led trading with 1.43 million shares followed by Lasco Distributors with 1.29 million units and Wigton Windfarm with 705,002 stock units.
In Junior Market trading, RA Williams led trading with 2.13 million shares followed by Fontana with 1.49 million stock units, Dolla Financial with 1.41 million units, MFS Capital Partners ended with 1.35 million shares and EduFocal with 1.06 million units.
In the preference segment, no stock traded with a notable price change.
The market’s PE ratio, the most popular measure used to value stocks, ended at 19.8 on 2023-24 earnings and 13.4 times those for 2024-25 at the close of trading. ICInsider.com PE ratio chart and more detailed daily charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons within a sector and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
Pertinent information is required to navigate numerous investment options successfully in the stock market. The ICInsider.com PE ratio chart and more detailed daily charts provide investors with regularly updated information to help decision-making.
The chart should be used in making rational decisions when investing in stocks close to the average for the sector, not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and place them on fundamentals while at the same time not being too far from the majority of investors. 
Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The net asset value of each company is incorporated into the chart. Investors can use this measure in assessing stock values. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends that are paid or are due to be paid and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume of the highest bid and the lowest offer for each company.
More decline for interest rates
The auction of the latest Certificate of Deposit offering by the country’s central bank, saw 382 bids amounting to $53.35 billion chasing after the $33 billion offered by Bank of Jamaica of which 235 bids succeeded, resulting in an average yield of 6.93 percent, down from 7.03 percent last week.
At the end of the week, the country’s central bank will hold short term CDS of $120 billion, consistent with the holdings in recent weeks.
Mixed day of trading on Trinidad Exchange
Stocks ended with mixed trading on the Trinidad and Tobago Stock Exchange on Wednesday, following a 192 percent rise in the volume of stocks traded with a 65 percent higher value than on Tuesday resulting in activity in 17 securities up from 13 on Tuesday and ending with prices of four stocks rising, six declining and seven ended firm.
The market closed with trading of 343,559 shares valued $2,089,584 compared to 117,520 stock units at $1,266,739 on Tuesday.
An average of 19,087 shares were traded at $116,088 compared with 9,394 units at $90,481 on Tuesday, with trading month to date averaging 15,142 shares at $170,143 compared with 14,535 units at $178,459 on the previous day and an average for August of 21,741 shares at $142,770.
The Composite Index rose 2.96 points to conclude trading at 1,068.09, the All T&T Index slipped 1.52 points to end at 1,601.73, the SME Index remained at 87.78 and the Cross-Listed Index popped 1.08 points to 69.56.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Agostini’s ended at $65 as investors traded just 1 stock, Angostura Holdings fell 38 cents to $17.12 after 248 shares passed through the market, Ansa McAl remained at $62.80 with investors swapping 270 units. Ansa Merchant Bank ended at $41.50 after a transfer of 240 stocks, First Citizens Group slipped 5 cents to $42.95 with investors trading 80 units, FirstCaribbean International Bank remained at $6.90 with 156 shares crossing the exchange. GraceKennedy climbed 24 cents to $3.65 with investors dealing in 3,090 stock units, Guardian Holdings remained at $14 with 388 stocks changing hands, Massy Holdings popped 10 cents in closing at $3.60 with traders dealing in 310,877 shares. National Enterprises fell 1 cent to finish at $3.01 in an exchange of 11 stocks, 
National Flour Mills gained 1 cent and ended at $1.80 with an exchange of 7,300 units, Prestige Holdings dipped 6 cents to close at $11.44 with an exchange of just one stock unit. Republic Financial ended at $112 with 3,506 shares crossing the market, Scotiabank rose 1 cent to end at $53.55 after an exchange of 8,935 stock units, Trinidad & Tobago NGL shed 25 cents to clos at ae 52 weeks’ low of $4.75 with investors trading 1,942 stock units. Trinidad Cement ended trading at $2.50 in switching ownership of 5,499 stocks and Unilever Caribbean lost 10 cents and ended at $11.40 with 1,000 shares clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Rising stocks edged out on JSE Main Market
Declining stocks edged out those rising on the Jamaica Stock Exchange Main Market on Tuesday, following a 48 percent decline in the volume of stocks traded declining with the value being 16 percent more than on Monday, with trading in 57 securities compared with 61 on Monday, with prices of 22 stocks rising, 24 declining and 11 ending unchanged.
The market closed with an exchange of 9,447,304 shares for $55,827,190 compared to 18,204,801 stock units valued at $48,152,166 on Monday.
Trading averaged 165,742 shares at $979,424 compared to 298,439 stock units at $789,380 on Monday and trading for the month to date, with an average of 290,511 units with a value of $2,258,494.
Transjamaican Highway led trading with 4.17 million shares for 44.2 percent of total volume followed by Transjamaican 8% preferred share, with 2.01 million units for 21.3 percent of the day’s trade and Wigton Windfarm with 809,692 stock units for 8.6 percent market share.
The All Jamaican Composite Index fell 597.26 points to conclude trading at 349,473.56, the JSE Main Index shed a mere 1.65 points to 308,076.08 and the JSE Financial Index lost 0.46 points to close at 63.44.
The Main Market ended trading with an average PE Ratio of 14.1. The JSE Main and USD Market PE ratios are based on last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2025.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close of the market, Barita Investments rose 40 cents to end at $73.49 with 1,958 shares crossing the exchange, Caribbean Cement dipped 50 cents to $64.50 with a transfer of 988 stocks, Eppley sank $2.10 to close at $34.90 after just 74 shares passed through the market. Eppley Caribbean Property Fund climbed $3 and ended at $42 after an exchange of a mere 14 stock units, GraceKennedy lost 50 cents to finish at $73.96 with 39,985 shares clearing the market, Jamaica Broilers dropped $2.48 in closing at $31.50 with an exchange of 39,156 stock units. JMMB Group fell 44 cents to $20.65 with 18,196 stocks crossing the market, Margaritaville increased $1.05 to end at $15.43 with traders dealing in 100 units, Massy Holdings popped $1.10 in closing at $80 after an exchange of 817 shares. 
NCB Financial advanced 75 cents to finish at $51.90 after the trading of 33,721 stock units, Pan Jamaica slipped $3.37 and ended at $46.10 in switching ownership of 30,743 units, Sagicor Real Estate Fund rallied 43 cents to close at $9 and closed with 313 stocks changing hands. Scotia Group gained 89 cents to $43.80 with investors swapping 477,479 units and Supreme Ventures rose 70 cents to finish at $21.15, with 19,056 stocks crossing the market.
In the preference segment, Jamaica Public Service 9.5% sank $1 and ended at $2699 with investors trading 4 shares and Sygnus Credit Investments C10.5% climbed $1.50 to close at $104.50 with 28 stock units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big surge for Junior Market
Trading activity closed on the Junior Market of the Jamaica Stock Exchange Tuesday, with a 49 percent decline in the volume of stocks traded, valued 23 percent less than Monday’s trades, following trading in 43 securities compared with 46 on Monday and ending with prices of 19 rising, nine declining and 15 closing unchanged as the market closed with the Investor’s Choice bid-offer indicator flashing negative signals for Wednesday’s trading.
The market closed with trading of 6,132,229 shares for $21,170,720 compared with 12,112,942 units at $27,337,385 on Monday.
Trading averaged 142,610 shares at $492,342 compared with 263,325 units at $594,291 on Monday with trading for the month to date, averaging 706,745 stock units at $1,046,579 compared with 794,636 shares valued at $1,132,928 on the previous day following August with an average of 389,714 units at $570,529.
Fontana led trading with 1.70 million shares for 27.7 percent of total volume followed by Fosrich with 1.22 million units for 20 percent of the day’s trade and iCreate with 659,457 stocks for 10.8 percent market share.
At the close of trading, the Junior Market Index popped 43.01 points to conclude trading at 3,708.52 as the market closed at this level for the first since early August.
The Junior Market ended trading with an average PE Ratio of 12.6, based on last traded prices in conjunction with earnings projected by ICInsider.com for financial years ending around August 2025.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and six with lower offers.
At the close of trading, Blue Power popped 39 cents to close at $4.39 with an exchange of 4,300 stock units, Cargo Handlers dipped 14 cents to $11.86 and closed with an exchange of 91 shares, Caribbean Assurance Brokers advanced 30 cents to finish at $3.50 in trading a mere 1,010 stocks. Dolla Financial rose 8 cents and ended at $3.04 after a transfer of 270,615 units, 
Dolphin Cove lost $1.48 in closing at $21.02 with investors trading 4,498 stock units, Elite Diagnostic fell 12 cents to end at $1.60 in an exchange of 49,140 shares. Everything Fresh rallied 8 cents to $2.25 after 2 units were traded, Future Energy increased 7 cents to close at $3.33 with an exchange of 57,104 stock units, GWest Corporation shed 13 cents and ended at 92 cents with investors swapping 1,035 shares. Mailpac Group dropped 11 cents to finish at $2.18 after an exchange of 90,920 stocks and Paramount Trading climbed 7 cents in closing at $1.45 with just two units clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
All JSE USD traded stocks fall
All stocks trading on the Jamaica Stock Exchange US dollar market closed lower on Tuesday, following a sharp 419 percent jump in the volume of stocks traded with a 3 percent rise in value than on Monday, from trading of nine stocks.
The market closed with an exchange of 559,013 shares for US$47,507 up from 107,733 units at US$45,990 on Monday.
Trading averaged 111,803 shares at US$9,501 compared to 11,970 stocks for US$5,110 on Monday, with a month to date average of 165,724 units at US$5,376 compared with 171,852 shares at US$4,908 on the previous day and August that ended with an average of 297,880 units for US$8,245.
The US Denominated Equities Index inched 1.07 points higher to close at 236.55.
The PE Ratio, one of the most popular measures used to determine appropriate stock values, averages 8.1. The PE ratio is calculated based on last traded prices divided by projected earnings computed by ICInsider.com for companies with financial year ending around August 2025.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Proven Investments shed 0.05 of a cent to finish at 9.95 US cents with investors trading 9,540 stock units, 
Sygnus Credit Investments fell 0.01 of a cent and ended at 6.99 US cents after an exchange of 39,083 units and Transjamaican Highway declined 0.13 of one cent to 2 US cents with 479,414 shares crossing the market.
In the preference segment, JMMB Group US8.5% preference share sank 5 cents to close at US$1.05 as investors exchanged 30,921 stock units and Sygnus Credit Investments E8.5% skidded 78.89 cents in closing at US$9.5011 in trading 55 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market jumps Main Market slips
The Junior Market index closed above the 3,700 mark for the first time since the first week in August, while the Main Market Index just barely slipped on the Jamaica Stock Exchange in trading on Tuesday as the JSE USD market closed moderately higher as trading ended with the number of stocks changing hands falling, with the value of stocks traded ended slightly higher than on the previous trading day, resulting in prices of 33 shares rising and 33 declining.
At the close of trading, the JSE Combined Market Index climbed 307.18 points to close at 321,200.65, the All Jamaican Composite Index declined 597.26 points to conclude trading at 349,473.56, the JSE Main Index dropped a mere 1.65 points to wrap up trading at 308,076.08. The Junior Market Index popped 43.01 points to cease trading at 3,708.52 and the JSE USD Market Index rallied 1.07 points to end the day at 236.55.
At the close of trading, 16,138,546 shares were exchanged in all three markets, down from 30,425,476 units on Monday, with the value of stocks traded on the Junior and Main markets amounted to $77 million, just above the $75.49 million on the previous trading day and the JSE USD market closed with an exchange of 559,013 shares for US$47,507 compared to 107,733 units at US$45,990 on Monday.
In Main Market activity, Transjamaican Highway led trading with 4.17 million shares followed by Transjamaican Highway 8% with 2.01 million units and Wigton Windfarm with 809,692 stocks.
In Junior Market trading, Fontana led trading with 1.70 million shares followed by Fosrich with 1.22 million tocks and iCreate with 659,457 units.
In the preference segment, Jamaica Public Service 9.5% slipped $1 and ended at $2,699 and Sygnus Credit Investments C10.5% climbed $1.50 to close at $104.50.
The market’s PE ratio, the most popular measure used to value stocks, ended at 19.7 on 2023-24 earnings and 13.3 times those for 2024-25 at the close of trading. ICInsider.com PE ratio chart and more detailed daily charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons within a sector and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
Pertinent information is required to navigate numerous investment options successfully in the stock market. The ICInsider.com PE ratio chart and more detailed daily charts provide investors with regularly updated information to help decision-making.
The chart should be used in making rational decisions when investing in stocks close to the average for the sector, not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and place them on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The net asset value of each company is incorporated into the chart. Investors can use this measure in assessing stock values. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends that are paid or are due to be paid and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume of the highest bid and the lowest offer for each company.
Profit more than doubled at Caribbean Cream
Revenues jumped an impressive 26 percent to $764 million at Caribbean Cream, for the first quarter to May this year, from a year ago when there was no growth in revenues. The latest figures are in line with revenues for the fourth quarter of the just concluded fiscal year to February.
Profit after tax more than doubled to $15 million from just $7 million last year and almost tripled before tax to $20.4 million. The first quarter net profit represents 43 percent of 2024 full year earnings of $37 million, this points to the potential for increased profits for the current year. Also of import, is data showing, the second and fourth quarters account for 7 percent and 11 percent more sales revenues than the immediately preceding quarters, resulting in around $55 million and $85 million in sales, respectively.
Other income moved from just over $1 million in 2023 to a loss of $3 million this year.
Gross profit margin in the first quarter rose to 35 percent from 30.7 percent in 2023 as input cost climbed vastly slower than sales growth, at 19 percent to $97 million from $418 million in 2023. The effect, operating profit surged 43.5 percent in the quarter to $267 million from $186 million.
Administrative expenses jumped 34.4 percent to $198 million in the quarter from $148 million in 2023. Sales and distribution expenses surged 58 percent to $22 million from $14 million in the prior year. Finance costs increased to $23 million in the quarter from $18 million in 2023. Taxation climbed from $956,677 to $5.11 million.
Current assets ended the period at $485 billion including trade and other receivables of $184 million, cash and bank balances of $97 million. Current liabilities ended the period at $331 million. Net current assets ended the period at $154 million.
At the end of May, shareholders’ equity amounts to $878 million with long term borrowings at $1.1 billion and short term at $108 million. The increased borrowing was used in financing the increased fixed asset that now is on the books at $1.74 billion and is up from $825 million at the end of February 2021.
Earnings per share for the quarter was 4 cents. IC Insider.com computation projects earnings of 70 cents per share for the fiscal year ending February 2025, with a PE of 5 times the current year’s earnings based on the price of $3.45 the stock traded at on the Jamaica Stock Exchange Junior Market. Net asset value ended the period at $2.32 with the stock selling at 1.50 time book value.
