Productive Business 9.25% preference share was added to the Jamaica Stock Exchange US dollar market this week with the trading on Friday and rising by the close. The volume of stocks traded in the overall market on Friday, climbed 17 percent, with 8 percent less value than on Thursday, resulting in seven securities traded, similar to Thursday and ended with three rising, four declining and none ending unchanged.
Overall, 3,796,627 shares were traded for US$51,064 compared to 3,235,927 units at US$55,292 on Thursday.
Trading averaged 542,375 shares at US$7,295 versus 462,275 units at US$7,899 on Thursday, with a month to date average of 87,926 shares at US$4,746 versus 68,044 units at US$4,634 on the previous trading day. August ended with an average of 53,206 units for US$7,288.
The JSE US Denominated Equities Index lost 0.66 points to end at 215.55.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.9. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November and August 2023.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling prices and none with a lower offer.
At the close, First Rock Real Estate USD share shed 0.08 of a cent to end at 6.82 US cents in swapping 6,367 shares, 
Proven Investments fell 1 cent to 20 US cents with a transfer of 500 units, Sterling Investments popped 0.02 of a cent to 2.11 US cents after trading 28,086 stock units. Sygnus Credit Investments USD share lost 1.21 cents to close at 9.77 US cents, with 2,000 stocks crossing the exchange and Transjamaican Highway gaining 0.03 of a cent to end at 1.02 US cents after exchanging 3,757,139 units.
In the preference segment, the newly listed Productive Business 9.25% preference share rose US$0.50 to a new high of US$10.50 with investors transferring 894 stock units and JMMB Group 5.75% declined 4 cents to US$1.76 after exchanging 1,641 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
New listing for JSE US dollar market
September gains for Junior Market
The Junior Market of the Jamaica Stock Exchange Friday, closed September 61.5 points higher than August close with a 23.4 percent gain for the year to date with the volume and the value of stocks trading marginally higher than on Thursday resulting in an exchange of 46 securities versus 41 on Thursday with 18 rising, 16 declining and 12 closing unchanged.
A total of 19,888,010 shares were traded for $79,051,861 up from 17,734,945 units at $68,426,190 on Thursday.
Trading averaged 432,348 shares at $1,718,519 in contrast to 432,560 stocks at $1,668,931 on Thursday, with trading month to date, averaging 470,099 units at $1,578,445 compared to 471,994 stock units at $1,571,411 on the previous day. August closed with an average of 407,186 units at $1,330,946.
Several stocks traded in large volume led by Fosrich with 6.28 million shares for 31.6 percent of total volume, followed by Spur Tree Spices with 2.91 million units for 14.6 percent of the day’s trade, Future Energy Source came in with 2.40 million units for 12.1 percent market share, ONE on ONE Educational chipped in with 1.26 million units for 6.4 percent if stocks traded and Dolla Financial, 1.20 million units for 6 percent of the market.
At the close, the Junior Market Index advanced 36.11 points to settle at 4,229.54. The PE Ratio, a measure of computing appropriate stock values, averages 12.8. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Access Financial popped $3.03 in closing at $27.72 in an exchange of 38,331 shares, AMG Packaging declined 38 cents to end at $3.51 and closed with trading of 40,203 stocks, Cargo Handlers increased 40 cents to $11.51 with 8,160 stock units changing hands. Consolidated Bakeries dipped 25 cents to end at $2.66 with a transfer of 27,908 units, EduFocal dropped 20 cents to $2.45, with 171,853 units clearing the market, Express Catering shed 30 cents to close at $5.30 with the swapping of 727,822 shares. Fosrich advanced 32 cents in closing at $4.35 in trading 6,280,600 stock units, iCreate lost 35 cents to end at $2.45 with investors transferring 800,462 stocks, Indies Pharma gained 18 cents in ending at $3.20 after a transfer of 509,797 stocks. Iron Rock Insurance fell 26 cents to $2.50 in switching ownership of 2,048 units, KLE Group rose 19 cents to $2.17, with 593 shares crossing the market, Main Event rallied 46 cents to close at $9.45 while exchanging 222,157 stock units. MFS Capital Partners declined 20 cents to end at $3, 410,493 stock units crossing the exchange, Paramount Trading climbed 16 cents to $1.97 after exchanging 125 shares, Spur Tree Spices popped 39 cents in closing at $3.85, with 2,910,027 stocks changing hands. 
Stationery and Office Supplies jumped $1.70 to close at $17.80 with an exchange of 243,643 units and tTech dropped 45 cents in closing at $2.54 as investors exchanged 138,790 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trinidad & Tobago Exchange popped Friday
Market activity ended on the Trinidad and Tobago Stock Exchange on Friday, with the volume of stocks traded rising 147 percent with a 65 percent jump in value over Thursday, resulting in 15 securities traded compared with 18 on Thursday, with two stocks rising, five declining and eight remaining unchanged.
A total of 339,203 shares were exchanged for $3,599,215 up from 137,453 shares at $2,186,097 on Thursday. An average of 22,614 units traded at $239,948 compared to 7,636 shares at $121,450 on Thursday, with trading month to date averaging 45,817 units at $463,533 down from 46,718 shares at $472,221 on the previous day. The average trade for August amounts to 40,829 units at $378,385.
The Composite Index increased 2.53 points to 1,343.16, down 10.3 percent for the year to date. The All T&T Index climbed 6.26 points to 2,015.22, with a year to date fall of 3 34 percent and the Cross-Listed Index lost 0.20 points to settle at 87.36
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Angostura Holdings increased by $1.95 to end at $24.95 in exchanging 377 shares, Ansa McAl ended at $56.50 while trading 39,326 units, First Citizens Group remained at $50 with the swapping of 400 stock units. FirstCaribbean International Bank closed at $5.10 as investors exchanged 9,435 stocks, GraceKennedy advanced 25 cents to $5.25 after 36 units changed hands, JMMB Group lost 10 cents in ending at $2.20 in switching ownership of 32,153 stock units. Massy Holdings dipped 1 cent in closing at $4.74, with 83,320 stocks crossing the exchange, 
National Enterprises ended at $3.30 in an exchange of 23,983 shares, Prestige Holdings shed 15 cents to end at $6.25 after 298 stock units crossed the market, Republic Financial Holdings declined 2 cents to $140 in trading 46 units, Scotiabank remained at $78.40 with an exchange of 376 stock units, Trinidad & Tobago NGL ended at $21.45, with investors transferring 600 shares. Trinidad Cement fell 5 cents to $3.50, with 130,106 shares changing hands, Unilever Caribbean ended at $13 with 18,060 stock units clearing the market and West Indian Tobacco remained at $22.50 after an exchanging of 687 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Jamaica Broilers flees Haiti
After several years of operating in a challenging and economically hostile environment, Jamaica Broilers decided to pull the plug on their loss making Haitian operation that once showed promise of long term viability.
The Board of Directors on Wednesday “accepted the recommendation of management to discontinue its operations in Haiti as conducting business in that jurisdiction has become unviable.”
For the fiscal year to April 2022, the Haitian market suffered a big blow, with sales nose-diving 44 percent to $1.3 billion from $2.4 billion in 2021 as that country continues to suffer from economic and social instability.
That segment results showed a worsening outturn with a loss of $365 million, from a loss of just $7 million in 2021. Up to the January quarter, the results showed a loss of just $11 million from revenues of $1.1 billion, but the company made an impairment provision of $141 million for this operation which is charged to cost of sales and administration and other expenses. Overall the group wrote down the value of their investment in Haiti by $904 million to just $308 million. The Haitian operation reported a loss of $83 million in the quarter to July, up from a loss of$48 million in 2021, with revenues of $86 million down from $426 million in 2021.
Revenue for the group in the July quarter this year amounted to $22.98 billion, up 30.5 percent from $17.6 million in 2021, with profit surging 288 percent to $1.1 billion from just $275 million in 2021.
In early trading on the Jamaica Stock Exchange, on Friday, Jamaica Broilers opened at $29.
Big jump in main market trading
Investors pushed the Jamaica Stock Exchange Main Market higher on Thursday, with the volume of stocks traded rising 561 percent, with 116 percent greater value than Wednesday, following trading in 50 securities compared to 57 on Wednesday, with prices of 21 rising, 18 declining and 11 ending unchanged.
A total of 186,827,923 shares were traded for $789,529,362 up from 28,254,323 units at $365,934,690 on Wednesday.
Trading averaged 3,736,558 units at $15,790,587 versus 495,690 shares at $6,419,907 on Wednesday and month to date, an average of 377,970 units at $3,714,938, compared to 226,546 units at $3,170,510 on the previous day. August closed with an average of 738,534 units at $5,975,613.
JMMB Group 7.25% preference share due 2024, led trading with 175 million shares for 93.7 percent of total volume traded, followed by Wigton Windfarm with 2.66 million units for 1.4 percent of the day’s trade, Pulse Investments accounted for 1.67 million units with 0.9 percent market share. Sagicor Select Financial Fund closed with 1.51 million units for 0.8 percent of traded shares, Transjamaican Highway had an exchange of 1.38 million units for 0.7 percent of market share and Barita Investments ended with 1.34 million units for 0.7 percent of trading.
The All Jamaican Composite Index rallied 1,658.74 points to 410,071.11, the JSE Main Index increased 1,851.88 points to 357,899.15 and the JSE Financial Index inched 0.10 points to 86.23.
The PE Ratio, a formula used to ascertain appropriate stock values, averages 13.9 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows 13 stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments advanced 65 cents to end at $103.50 with the swapping of 1,344,652 shares, Caribbean Cement rose 49 cents in ending at $61.49 with an exchange of 2,137 stock units, Eppley gained $2.50 in closing at $41 after exchanging 240 units. Eppley Caribbean Property Fund popped $2.95 to close at $46.95, with 13,708 stocks crossing the market, First Rock Real Estate lost 40 cents to close at $13.35, with 837 stock units changing hands, Guardian Holdings rallied $3 in closing at $500 after exchanging 52 stock units. Jamaica Stock Exchange declined $1.42 to close at $15.08 after trading 50,036 units, Massy Holdings dropped $6.35 to $81.10 after 172 shares were exchanged, Mayberry Investments increased 40 cents to $8.20 after a transfer of 30,000 stock units. 138 Student Living fell $1 to end at $5.50 as investors exchanged 80,604 units, PanJam Investment dipped 99 cents to close at $59 with an exchange of 4,888 shares,
Proven Investments climbed 98 cents to end at $31 in trading 1,018 stocks. Scotia Group shed $1 to end at $34 while exchanging 27,206 shares and Seprod rose 52 cents in closing at $65.05 with investors transferring 5,923 units.
In the preference segment, Jamaica Public Service 9.5% gained $140 to close at $2,790, after 36,603 stocks changed hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
BOJ pushes interest rate higher
Bank of Jamaica which increased the overnight rate over the past year by 550 basis points to 6 percent in August has pushed the rate to 6.5J percent in its latest decision.
According to the Central Bank, while “the key drivers of inflation and other economic indicators are trending in the right direction, conditions have not sufficiently solidified to ensure that inflation is sustainably on a downward path.”
“Bank of Jamaica is also concerned about the slow pace at which interest rates on local currency deposits and loans have responded to its policy signals. In a context where the Bank’s policy rate has increased by 500 basis points (bps) between end-September 2021 and end-July 2022, the weighted average deposit rate offered by deposit-taking institutions to the public has increased by only 37 bps.”
“ In addition, the pace of monetary tightening among Jamaica’s main trading partners has accelerated. On 21 September 2022, the Federal Reserve Board raised its interest rate target by 75 bps, 25 bps more than anticipated by the Bank. The Fed also changed its forward guidance to signal that interest rates could rise to 4.4 percent by end-2022 and to 4.6 percent by end-2023, compared to its previous median projections of 3.4 percent and 3.8 percent, respectively. This more aggressive stance could result in US dollar assets becoming more attractive relative to those denominated in Jamaican dollars, which could cause capital outflows, prompting a faster pace of exchange rate depreciation and, consequently, a derailment of the Bank’s efforts to manage inflation.”
6 days of gains for JSE US dollar market
The Jamaica Stock Exchange US dollar market rose for a sixth consecutive on Thursday, with a 175 percent rise in the volume of stocks exchanged, and a 214 percent rise in value over Wednesday, resulting in the trading of seven securities, compared to eight on Wednesday, with four rising, one declining and two ending unchanged.
Investors traded 3,235,927 shares for US$55,292, sharply up from 174,023 units at US$17,600 on Wednesday.
Trading averaged 462,275 units at US$7,899 from 21,753 shares at US$2,200 on Wednesday, with a month to date average of 68,044 shares at US$4,634 compared to 50,007 units at US$4,485 on the previous trading day. August ended with an average of 53,206 units for US$7,288.
The JSE US Denominated Equities Index gained 6.54 points to end at 216.21.
The PE Ratio, a measure used in computing appropriate stock values, averages 9. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November and August 2023.
Investor’s Choice bid-offer indicator shows no stock ending with a bid higher than the last selling price and one with a lower offer.
At the close, First Rock Real Estate USD share climbed 0.97 of one cent to 6.9 US cents after exchanging 159,937 shares, Productive Business Solutions increased 6.75 cents to US$1.39 after 681 units were traded, 
Proven Investments rose 2 cents to close at 21 US cents with investors trading 61,193 stocks. Sygnus Credit Investments USD share remained at 10.98 US cents as investors exchanged 10,564 stock units, Sygnus Real Estate Finance USD share dropped 0.01 of a cent to end at 12.37 US cents with the swapping of 3,545 stocks and Transjamaican Highway rallied 0.06 of a cent to end at 0.99 of one US cent after a transfer of 3,000,000 shares.
In the preference segment, Eppley 6% preference share ended at US$1.13 after 7 units were traded.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Buoyant Junior Market
Trading closed on the Junior Market of the Jamaica Stock Exchange Thursday, with the volume of stocks traded declining 15 percent with a 20 percent lower value than on Wednesday resulting from 41 trading of securities versus 43 on Wednesday and ended with 21 rising, 16 declining and four closing unchanged.
A total of 17,734,945 shares were traded for $68,426,190 compared to 20,778,103 units at $85,799,358 on Wednesday.
The day’s trading averaged 432,560 shares at $1,668,931 compared to 483,212 stocks at $1,995,334 on Wednesday, with the month to date, averaging 471,994 units at $1,571,412 in line with the 473,842 stock units at $1,566,843 on the previous day. August closed with an average of 407,186 units at $1,330,946.
Future Energy Source led trading with 5.34 million shares for 30.1 percent of total volume, followed by Jamaican Teas with 4.83 million units for 27.2 percent of the day’s trade, Dolla Financial closed with 1.40 million units for 7.9 percent market share, Fosrich accounted for 1.26 million units or 7.1 percent of traded shares and ONE on ONE Educational with 1.07 million units for 6 percent if the market.
At the close, the Junior Market Index rose 10.66 points to settle at 4,193.43. Consolidated Bakeries traded at a 52 weeks’ high in closing at $2.91.
The PE Ratio, a measure of computing appropriate stock values, averages 12.9. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, AMG Packaging rose 33 cents to $3.89 with a transfer of 6,579 shares, Blue Power gained 10 cents to close at $3.23 in switching owners of 545 units, Cargo Handlers dipped $2.89 to $11.11 after finishing trading of 2,500 stock units. Dolphin Cove advanced $1.39 to end at $14.49 with investors transferring 9,991 stocks, EduFocal popped 28 cents in closing at $2.65 after an exchange of 133,064 units, Elite Diagnostic climbed 17 cents in closing at $3.50 after 13,732 stock units changed hands. Express Catering increased 19 cents to $5.60 in exchanging 119,573 stocks, General Accident lost 75 cents in ending at $5 and trading 5,000 shares, Honey Bun dropped 36 cents to close at $7.90, with 143,821 shares crossing the market. iCreate declined 20 cents to end at $2.80 with an exchange of 440,985 stock units, Jamaican Teas rallied 24 cents to close at $2.95 after a transfer of 4,827,665 stocks, Knutsford Express advanced 15 cents to end at $7.40 in trading 4,508 units. 
Spur Tree Spices rose 16 cents to $3.46, with 797,951 units clearing the market, Stationery and Office Supplies popped 45 cents in closing at $16.10 while exchanging 8,000 stock units and tTech gained 39 cents to $2.99 after an exchange of a mere one share.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Sharp jump in trading on the JSE on Thursday
On a day of heavy trading on the Jamaica Stock Exchange, all three markets closed higher, with Barita Investments trading more than 1 million shares for a second consecutive day, with Thursday’s trade accounting for $138 million but JMMB Group 7.25% C share traded 175 million shares for $327 million followed but Productive Business Solutions preference share trading 119.5 units for a consideration of $166.7 million while Fesco led the Junior Market with 5.34 million units for $31 million.
Trading ended, with 207,798,795 shares changing hands, valued at $857.96 million, shares up from $451.73 million, with 49,206,449 shares traded in all markets on the previous day. The JSE USD market ended with the value of stocks traded at US$55,292 from US$17,599 on Wednesday
JSE Combined Index, a measure of the overall market, rallied 1,826.51 points to 372,351.61.
The All Jamaican Composite Index rose 1,658.74 points to 410,071.11, the JSE Main Index popped 1,851.88 points to 357,899.15, the Junior Market Index increased 10.66 points to 4,193.43 and the JSE USD market Index climbed 6.54 points to close 216.21.
The market’s PE ratio ended at 23.9 based on 2021-22 earnings and 12.4 times those for 2022-23 at the close of trading.
Investors need pertinent information to successfully navigate many investment options in the local stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational investment decisions by investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and put in 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 ICInsider.com PE Ratio chart covers all ordinary shares on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.
Trading drops on Trinidad market
Market activity ended on the Trinidad and Tobago Stock Exchange on Thursday, with the volume of stocks traded declining 43 percent, with 31 percent less value than on Wednesday, resulting from trading in 18 securities up from 10 on Wednesday, with prices of four rising, three declining and 11 remaining unchanged.
A total of 137,453 shares were exchanged for $2,186,097 down from 243,182 shares at $3,177,226 on Wednesday. An average of 7,636 units traded at $121,450 compared to 24,318 shares at $317,723 on Wednesday, with trading month to date averaging 46,718 shares at $472,219 versus 48,630 units at $489,377 on the previous day. The average trade for August amounts to 40,829 units at $378,385.
The Composite Index shed 0.79 points to close at 1,340.63, the All T&T Index fell 1.53 points to 2,008.96 and the Cross-Listed Index remained at 87.56.
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, Agostini’s ended at $45 trading 242 shares, Angostura Holdings dipped 5 cents to close at $23 in exchanging 2,475 stock units, Calypso Macro Investment Fund remained at $22 with a transfer of 85 units. Clico Investment Fund rallied 1 cent to $30, with 3,301 stocks clearing the market, First Citizens Group remained at $50 in switching ownership of 205 stock units, FirstCaribbean International Bank ended at $5.10 with investors transferring 5,565 stocks. Guardian Holdings ended at $25.50, with 1,474 shares changing hands, JMMB Group increased 3 cents to $2.30 in trading 10,000 units, L.J. Williams B share fell 15 cents to $2.05 after exchanging 5,000 units. 
Massy Holdings remained at $4.75 after swapping 67,853 shares, National Enterprises ended at $3.30 with a transfer of 1,600 stocks, Point Lisas remained at $3.11 after trading 160 stock units. Prestige Holdings remained at $6.40 in exchanging 3,528 stock units, Republic Financial Holdings climbed 2 cents to $140.02, with 110 stocks crossing the market, Scotiabank ended at $78.40, with 15,391 units crossing the exchange. Trinidad & Tobago NGL lost 5 cents in closing at $21.45 after trading 2,079 shares, Unilever Caribbean gained 50 cents in ending at $13 after exchanging 12,947 stocks and West Indian Tobacco ended at $22.50, with 5,438 shares changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
