JSE Main Market index jumps

Market activity ended on Friday with the volume and the value of shares trading declining 91 percent, respectively lower than on Thursday on the Jamaica Stock Exchange Main Market as declining stocks crowed out those rising.
The All Jamaican Composite Index clawed back 39 percent of Thursday’s loss by jumping 3,101.27 points to 431,145.84, the JSE Main Index advanced 1,523.01 points, pulling back 23 percent of Thursday’s fall to close at 389,946.39 and the JSE Financial Index fell 0.40 points to finish at 95.43.
Trading ended with 52 securities up from 50 on Thursday, with 15 rising, 21 declining and 16 left unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 15.7. The PE ratio for the JSE Main and USD Market closing quotes are based on earnings forecasted by ICInsider.com for companies with financial years ending between the current year and August 2022.
Trading ended with 7,483,770 shares changing hands for $102,978,128 versus 84,940,496 units at $1,131,398,700 on Thursday. Transjamaican Highway led trading with 24.9 percent of total volume with a transfer of 1.86 million shares, followed by Wigton Windfarm with 13 percent 974,341 units and JMMB Group 7.35% – 2028 with 7.4 percent after trading 556,634 units.
Trading averages 143,919 units at $1,980,349, versus 1,698,810 shares at $22,627,974 on Thursday and month to date, an average of 640,639 units at $8,279,653, down from 896,377 units at $11,522,859 on Thursday. November closed with an average of 233,949 units at $2,695,416.
Investor’s Choice bid-offer indicator shows eleven stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Caribbean Cement declined $2 to $83 in trading 5,716 shares, GraceKennedy spiked 70 cents to $98.70 after trading 14,252 stocks, Guardian Holdings dropped $19 and ended at $521 with the swapping of 89 units. Jamaica Producers rallied 90 cents to $24 with 4,895 stock units crossing the market, Margaritaville fell $1.50 to $15.50 in switching ownership of 9,227 shares, Mayberry Investments shed 50 cents to end at $7 in transferring 201,029 units. NCB Financial advanced $1.80 in closing at $122.80 with 26,559 stocks changing hands, Proven Investments dipped 30 cents to close at $33.50 in trading 7,122 stock units, Scotia Group fell $2 to $35 with the swapping of 97,734 stocks and Seprod lost 61 cents after ending at $63.39 in switching ownership of 8,854 shares.
In the preference segmentJMMB Group 7.15% – due 2028 slipped 50 cents to settle at a 52 weeks’ low of $2.50 after 32,000 stock units crossed the exchange, JMMB Group 7.35% – 2028 rose 85 cents to a 52 weeks’ high of $3.98 in transferring 556,634 stock units and 138 Student Living preference shares shed 57 cents to end at $6 with 20 units changing hands.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Mayberry sells off its Lumber depot shares

Mayberry Jamaica Equities sold off their remaining shares in Lumber Depot to the Paul Scott controlled Musson Investments, our sources indicate, helping to swell trading in the stock to 141.23 million units, accounting for 98.2 percent of total market volume on Friday. 
The trade pushed the volume of stocks traded by 4,622 percent and the value 1,842 percent higher than on Thursday on the Jamaica Stock Exchange Junior Market.
Market activity led to 34 securities trading compared to 36 on Thursday and ended with 15 rising, 10 declining and nine, closing unchanged. The Junior Market Index shed 9.66 points to settle at 3,337.47.
The PE Ratio, a measure used to compute appropriate stock values, averages 14.3. The PE ratio of stocks in the chart below is based on earnings forecasted by ICInsider.com for companies whose financial year ends up to August 2022.
A total of 143,917,891 shares changed hands for $397,658,745 compared to 3,047,909 units at $20,478,634 on Thursday. Lumber Depot led trading, followed by AMG Packaging contributing 0.6 percent with 810,660 units and Blue Power exchanged 499,518 units for a 0.3 percent market share.
Trading averaged 4,232,879 shares at $11,695,845 in contrast to 84,664 shares at $568,851 on Thursday and month to date, averaging 1,386,894 units at $3,972,320, compared to 79,279 units at $423,673 previously. November closed with an average of 160,358 units at $581,730.
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, AMG Packaging lost 21 cents after ending at $1.90, trading 810,660 shares, Blue Power popped 43 cents in closing at $3.63 after exchanging 499,518 stock units, Cargo Handlers fell 89 cents to $7.01 in trading 300 units. Caribbean Assurance Brokers spiked 58 cents to a 52 weeks’ high of $2.98 after transferring 70,936 stocks, Express Catering lost 19 cents to close at $5.70 in an exchange of 1,000 units, General Accident shed 47 cents to end at $6 with 11,579 stocks clearing the market. GWest Corporation rallied 8 cents to $1 in trading 202 stock units, Honey Bun shed 32 cents to $9.65 with an exchange of 200,468 shares, Iron Rock Insurance climbed 47 cents to $3.58 in switching ownership of 445 units. Jetcon Corporation lost 8 cents in ending at $1 with the swapping of 1,200 stocks, Knutsford Express rose 30 cents to finish at $8 with 112 stock units changing hands, Lasco Distributors lost 5 cents in closing at $3.05 with the transfer of 60,265 shares. Limners and Bards popped 10 cents to $3.55 in exchanging 15,000 stocks, Lumber Depot shed 15 cents to close at $2.75 with 141,232,699 shares clearing the market, Medical Disposables jumped 68 cents to $6.30 in trading 8,678 stock units and tTech gained 40 cents to end at $4.50 with 11,077 shares changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

JSE Main Market tumbles

Kingston Wharves had a hand in the clobbering the Jamaica Stock Exchange Main Market got on Thursday, with a block of 21.2 million units traded down to $36, some $2.50 lower than the last traded price on Wednesday. Elsewhere market activity ended with the volume of shares trading rising 1,419 percent and the value 3,391 percent higher than Wednesday as the number of stocks advancing and declining were equal.

Kingston Wharves traded 21 million shares.

The All Jamaican Composite Index plunged 7,919.02 points to 428,044.57, following the 1,705 points fall  Wednesday. The JSE Main Index dived 6,677.31 points, on top of the 2,730 points fall Wednesday, to 388,423.38 and the JSE Financial Index slipped 1.02 points to 95.83. A total of 50 securities traded down from 51 on Wednesday, with 21 rising, 21 declining and eight ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 15.8. The PE ratio for the JSE Main and USD Market closing quotes are based on ICInsider.com earnings forecasts for companies with financial year ending between the current year and August 2022.
A total of 84,940,496 shares traded for $1,131,398,700 versus 5,593,564 units at $32,410,085 on Wednesday. JMMB Group 7.5% led trading with 58.7 percent of total volume for an exchange of 49.89 million shares, followed by Kingston Wharves with 25 percent after trading 21.2 million units, JMMB Group 7.35% – 2028 accounted for 3.7 percent with 3.13 million units, Eppley Caribbean Property Fund delivered 3 percent after trading 2.51 million units, Transjamaican Highway accounted for 2.4 percent with 2.04 million units and Sagicor Group with 1.9 percent for exchange of 1.64 million units.
Trading averages 1,698,810 units at $22,627,974, versus 109,678 shares at $635,492 on Wednesday and month to date, an average of 896,377 units at $11,522,859November closed with an average of 233,949 units at $2,695,416.
Investor’s Choice bid-offer indicator shows eleven stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments rose 28 cents to $90.98 in trading 1,280 stocks, Berger Paints shed 75 cents to settle at $12.75 with an exchange of 817 stock units, Caribbean Producers rose 73 cents to $10.23 after 281,486 units crossed the market. Eppley lost 30 cents to end at $35.70 with a transfer of 30 stocks, First Rock Capital fell 62 cents to $10 in switching ownership of 63,368 shares, GraceKennedy declined $1 to $98 with an exchange of 781,515 units. Guardian Holdings popped $1 to close at $540 with the swapping of 1,803 stock units,Jamaica Broilers spiked $1.20 in closing at $30 after 6,355 stocks changed hands, Jamaica Producers shed $1.40 to finish at $23.10 in transferring 2,376 shares. Jamaica Stock Exchange slipped $1.20 to $16.80 after trading 3,676 units, Kingston Wharves rallied $5 to close at $43.50 in exchanging 21,199,599 stock units, after the bulk of the shares traded at $36. Mayberry Jamaican Equities rose 99 cents to $8.99, owners switching 600 stocks. 138 Student Living gained 39 cents in ending at $3.50 with 4,550 shares changing hands, Palace Amusement advanced $55 to $1,030 with two stock units clearing the market, PanJam Investment declined $1.97 to end at $68.01 in trading 414,053 units. Proven Investments gained 30 cents in closing at $33.80 with an exchange of 56,208 shares, Sagicor Group dipped 50 cents to $52.50 with the swapping of 1,640,433 stock units, Sagicor Real Estate Fund rallied 31 cents to $8.61 after exchanging 250 stocks. Scotia Group shed $1.50 to end at $37, with 6,656 shares crossing the market, Seprod gained 49 cents to settle at $64 in transferring 13,129 units, Stanley Motta gained 42 cents after ending at $5.67 in switching ownership of 1,368 stocks. Sygnus Credit Investments fell 48 cents to $15.31, with 25,551 units changing hands, Sygnus Real Estate Finance rose 51 cents to $16.01 after trading 1,023 stock units.
In the preference segmentEppley 7.50% preference share shed 90 cents to close at $6 in an exchange of 7,500 shares.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Investors mostly slash Junior Market prices

Add your HTML code here...

Investors were in a price cutting mood Thursday trading session on the Jamaica Stock Exchange Junior Market as they exchanged 36 securities trading compared to 38 on Wednesday and slashed prices of 22 while pushing up eight and left six trading unchanged sending the market index down 29.07 points to 3,347.13 at the close.

Access Financial Services dominated trading with the largest block of shares that traded.

The PE Ratio, a measure used to compute appropriate stock values, averages 14.1. The PE ratio of each stock shown in the chart below is based on earnings forecasts computed by ICInsider.com for companies with their financial year ending up to August 2022.
Trading ended with 88 percent more funds passing through the market, leading to slightly more volume than on Wednesday as trading closed with 3,047,909 shares changing hands for $20,478,634 versus 2,818,722 units at $10,873,159 on Wednesday. Access Financial led trading with 634,113 shares accounting for 20.8 percent of total volume, followed by iCreate with 342,036 units for 11.2 percent of overall trading and Lumber Depot with 311,057 units for 10.2 percent market share.
Trading averaged 84,664 shares at $568,851 in contrast to 74,177 shares at $286,136 on Wednesday and month to date, averaging 79,279 units at $423,673. November closed with an average of 160,358 units at $581,730.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and two with lower offers.
An interesting development in trading was the large block of Access Financial shares trading with the stock shedding $1.26 to close at $19.50, after a relatively large block of 634,113 shares cleared the market. the trade is a likely sign that the immediate future is bright for the stock. At the close, AMG Packaging dropped 9 cents to close at $2.11 with an exchange of 48,023 units, Cargo Handlers spiked 85 cents to $7.90 in trading one stock. Caribbean Assurance Brokers increased 9 cents to end at $2.40 with the swapping of 267,431 stock units, Caribbean Cream advanced 10 cents to $5.70 after exchanging 34,001 shares, Dolphin Cove lost 20 cents to end at $12.99, with 131,297 units changing hands. Elite Diagnostic declined 11 cents to $2.95 after exchanging 17,751 stocks, Everything Fresh rallied 6 cents to 98 cents, with 38,756 stock units crossing the market, Fontana fell 20 cents to $7.30 trading 40,275 stock units. GWest Corporation dropped 8 cents to end at 92 cents in trading 340 shares, Indies Pharma lost 48 cents in closing at $3 while exchanging 104,485 stocks, Knutsford Express declined 30 cents to end at $7.70 with an exchange of 100 units. Lasco Manufacturing shed 13 cents to $4.76 after trading 47,208 units, Limners and Bards fell 15 cents ending at $3.45 after an exchange of 46,307 shares, Main Event climbed 39 cents to $4.09 with 4,989 stocks crossing the market. Stationery and Office Supplies fell 78 cents to $5.60, with 17,333 stock units changing hands and tTech fell 20 cents to $4.10 in an exchange of 2,001 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

JSE Main Market trading in the dumps

Investors engaged in a lacklustre trading session to start trading for the first day of the final month of 2021 resulted in an exchange of 27 percent fewer shares value 76 percent less than Tuesday. With a mere $32 million trading on the Jamaica Stock Exchange Main Market and ended with declining stocks outnumbering those falling.
The All Jamaican Composite Index fell 1,704.80 points to 435,963.59, the JSE Main Index dived 2,729.98 points to 395,100.69 and the JSE Financial Index shed 1.43 points to end at 96.85.
Trading ended with 51 securities similar to Tuesday, with 16 rising, 20 declining and 15 left unchanged. The PE Ratio, a formula for computing appropriate stock values, averages 15.7. The PE ratios for the JSE Main and USD Market are based on earnings forecasts for companies with financial years ending between the current year and August 2022.
Trading ended with 5,593,564 shares changing hands for $32,410,085 versus 7,613,507 units at $134,588,814 on Tuesday. Transjamaican Highway led trading with 27 percent of total volume with a transfer of 1.51 million shares, followed by Wigton Windfarm with 21.6 percent after 1.21 million units traded and QWI Investments 10.5 percent, with 587,611 units changing hands.
Trading averaged 109,678 units at $635,492 down from 149,284 shares at $2,638,996 on Tuesday.  November closed with an average of 233,949 units at $2,695,416.
Investor’s Choice bid-offer indicator shows 11 stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Barita Investments rose 30 cents to $90.70 with an exchange of 4,183 shares, Caribbean Cement declined $7.50 in closing at $85 after transferring 12,346 stock units, Caribbean Producers lost 25 cents to finish at $9.50, trading 514,534 units. Eppley Caribbean Property Fund rose $2 to $40 with 149 stocks crossing the market, First Rock Capital shed 38 cents to end at $10.62 in exchanging 5,572 stock units, Guardian Holdings dipped $1 to $539 with the swapping of 56 units. Jamaica Broilers declined $2.20 to $28.80 after trading 5,170 stock units, Jamaica Producers rallied 50 cents to $24.50 in trading 73,215 shares, Jamaica Stock Exchange declined $1.15 to close at $18 in switching ownership of 2,764 stocks. Kingston Wharves fell $5.50 to $38.50 with 33,093 stock units changing hands, Margaritaville rose $1 to $17 with a transfer of 1,766 shares, Mayberry Jamaican Equities lost 50 cents to end at $8 in an exchange of 238,187 units. Palace Amusement popped $18 to close at $975 in trading 14 shares, PanJam Investment declined $3.78 in closing at $69.98 with 8,512 stocks clearing the market, Sagicor Real Estate Fund gained 30 cents to finish at $8.30 with the swapping of 2,581 stock units. Scotia Group spiked 75 cents to end at $38.50 with 36,434 units crossing the market, Seprod popped 31 cents to $63.51 in switching ownership of 7,381 shares, Supreme Ventures rallied 49 cents in closing at $17.99 and trading 16,389 stocks. Sygnus Credit Investments popped 59 cents to $15.79 in transferring 60,631 stock units, Sygnus Real Estate Finance shed 51 cents to close at $15.50 in trading 2,224 units and Wisynco Group dipped 43 cents to $16.50 with the swapping of 80,624 stocks.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Junior Market starts December positively

Stocks recorded gains to start the final month of the year on a positive note on the Jamaica Stock Exchange Junior Market on Wednesday, with the volume of stocks traded rising, slipping 29 percent, with the value down 22 percent versus trading on Tuesday.
The day ended with 38 securities trading compared to 36 on Tuesday and ended with 12 rising, 15 declining and 11, closing unchanged. The Junior Market Index advanced 8.09 points to settle at 3,376.20.
The PE Ratio, a measure used to compute appropriate stock values, averages  14.4. The PE ratio of each stock is shown in the chart below, is based on earnings forecasted by ICInsider.com for companies with their financial year ending up to August 2022.
A total of 2,818,722 shares changed hands for $10,873,159 down from 3,944,569 units at $13,899,422 on Tuesday. Lumber Depot led trading with 576,504 shares for 20.5 percent of total volume, followed by Caribbean Assurance Brokers with 519,552 units for 18.4 percent of the day’s trade and AMG Packaging with 394,367 units for 14 percent market share.
Trading averaged 74,177 shares at $286,136 in contrast to 109,571 shares at $386,095 on Tuesday. November closed with an average of 160,358 units at $581,730.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than their last selling prices and four with lower offers.
At the close, AMG Packaging popped 5 cents after closing at $2.20 with the swapping of 394,367 shares, Blue Power rose 21 cents to $3.21, with 20,432 stocks crossing the market, Cargo Handlers climbed 4 cents to end at $7.05 after exchanging 2,000 stock units. Caribbean Assurance Brokers shed 18 cents to $2.31, with 519,552 units crossing the market, Caribbean Flavours fell 11 cents to $1.81 with 4,001 stocks changing hands, Consolidated Bakeries declined 6 cents in closing at $1.45 in exchanging 15,049 units. Dolphin Cove popped 19 cents to $13.19 after trading 270,441 shares, Everything Fresh fell 6 cents to 92 cents with an exchange of 75,853 stock units, Express Catering increased 25 cents to close at $5.90 in exchanging 24,934 units. Fosrich dropped 3 cents to end at $8.47 after trading 13,319 stocks, Future Energy Source slipped 3 cents to $2.75, with 296,830 shares changing hands, GWest Corporation rallied 9 cents to close at $1 in switching ownership of 1,600 stock units. Knutsford Express gained 49 cents in ending at $8 after trading 1,734 units, Lasco Distributors fell 5 cents in closing at $3.15 after exchanging 9,362 stocks, Limners and Bards dropped 9 cents to end at $3.60, with 15,718 shares crossing the exchange. Lumber Depot shed 4 cents to $2.90 while exchanging 576,504 stock units, Medical Disposables lost 14 cents to end at $5.62, with 7,000 stocks clearing the market, Paramount Trading advanced 17 cents in closing at $1.21 after exchanging 2,000 units and Stationery and Office Supplies popped 38 cents to $6.38 in an exchange of 300 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Solid gains end November for JSE Main Market

Market activity ended on Tuesday with robust gains for the Jamaica Stock Exchange Main Market. The All Jamaican Composite Index jumped by 4,559.46 points to 437,668.39, just over 7,000 points below the close for October. The JSE Main Index surged 5,036.25 points to 397,830.67 and the JSE Financial Index rose 1.80 points to 98.28. The volume of stocks trading slipped at the close on Tuesday with the market ending, with rising stocks exceeding those decliners 2 to 1.
A total of 51 securities traded compared to 59 on Monday, with 24 rising, 12 declining and 15 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 15.8. The PE ratio for the JSE Main and USD Market quotes are based on earnings forecasted by ICInsider.com for companies with financial years ending between the current year and August 2022.
Trading on hauled out 7,613,507 shares for $134,588,814 in contrast to 10,513,011 units at $104,608,393 on Monday. Transjamaican Highway led trading with 21.2 percent of total volume after transferring 1.62 million shares, followed by Jamaica Broilers with 14.3 percent and 1.09 million units and Wigton Windfarm 10 percent with an exchange of 762,810 units.
Trading averaged 149,284 units at $2,638,996 versus 178,187 shares at $1,773,024 on Monday and month to date, an average of 233,949 units at $2,695,416, versus 237,936 units at $2,698,072 on Monday. October closed with an average of 251,350 units at $2,773,208.
Investor’s Choice bid-offer indicator shows 20 stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Barita Investments dipped 30 cents in closing at $90.40 after 14,398 shares crossed the market, Berger Paints fell $1.10 to $13.60 in an exchange of 653 units, Caribbean Cement climbed $9.40 to $92.50 in switching ownership of 306,290 stock units. Jamaica Broilers rallied $2.30 to close at $31 in trading 1,091,303 stocks, Jamaica Producers advanced $1.74 to end at $24 with the swapping of 178,959 units, Jamaica Stock Exchange rose $1.65 to finish at $19.15 in trading 117,911 stock units. JMMB Group popped 35 cents to close at $38.40 with 102,208 shares changing hands, Margaritaville fell $5 in closing at $16 with one stock unit crossing the market, PanJam Investment popped $9.21 to $73.76 in an exchange of 823 units. Sagicor Group shed $2 to close at $53 in transferring 533,923 stock units and Scotia Group gained 30 cents in ending at $37.75 with 3,505 stocks changing hands, Supreme Ventures rallied 19 cents in closing at $17.50 in switching ownership of 195,825 shares and Wisynco Group increased 22 cents to $16.93 trading 123,466 units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Junior Market rallies into month end

The volume of stocks trading on the Jamaica Stock Exchange Junior Market on Tuesday rose moderately over Monday’s trade after 15 percent fewer funds entered the market compared to Monday, but the margin rose above Mondays’ close but ended down nearly 27 points for the month.
The market closed with 36 securities trading up from 34 on Monday and ended with 18 rising, 10 declining and eight, closing unchanged. At the close, the Junior Market Index increased 25.97 points to settle at 3,368.11.
The PE Ratio, a measure used in computing appropriate stock values, averages 14.4. The PE ratio of each stock is shown in the chart below, is based on earnings forecasted by ICInsider.com for companies with their financial year ending up to August 2022.
Trading ended with 3,944,569 shares changing hands for $13,899,422 compared to 3,434,946 units at $16,310,151 on Monday. Indies Pharma led trading with 525,785 shares for 13.3 percent of total volume, followed by iCreate with 492,593 units for 12.5 percent of the day’s trade and Future Energy Source with 449,533 units for 11.4 percent market share.
Trading averaged 109,571 shares at $386,095 in contrast to 101,028 shares at $479,710 on Monday and the month to date, averaging  160,358 units at $581,730, compared to 162,748 units at $590,936 on Monday. October closed with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, Access Financial advanced 75 cents to $20.75, trading 8,637 shares, Caribbean Assurance Brokers rallied 7 cents to $2.49, with 44,200 stock units crossing the exchange, Consolidated Bakeries climbed 35 cents in closing at $1.51 in exchanging 5,502 units. Dolphin Cove spiked 53 cents to $13 while exchanging 232,273 stocks, Elite Diagnostic lost 14 cents to end at $3.06 with 49,422 stocks changing hands, Fosrich dropped 24 cents to $8.50 after exchanging 31,127 stock units. General Accident popped 49 cents to $6.49 as 1,100 units changed hands, Indies Pharma gained 51 cents in ending at $3.50 while exchanging 525,785 shares, Jetcon Corporation rose 18 cents to close at $1.08 in trading 4,000 shares. KLE Group shed 82 cents to $2.30 after exchanging 32,978 stocks, Knutsford Express fell 49 cents to $7.51 with the swapping of 1,467 stock units, Lasco Distributors increased 19 cents to $3.20 in switching ownership of 28,737 units. Limners and Bards advanced 9 cents to end at $3.69 after 139,628 stocks crossed the market, Lumber Depot popped 7 cents to close at $2.94, trading 214,857 stock units, Medical Disposables declined 93 cents in closing at $5.76, with 3,800 shares changing hands. Paramount Trading fell 17 cents to $1.04 in an exchange of 400,900 units and Stationery and Office Supplies declined 10 cents to $6, with 5,795 stocks clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Long term GOJ interest rates spike to 11% high

Investors garnered interest rates as high as 11 percent on long term bonds issued by the Government of Jamaica last week auctions of three long term bonds that were reopened and raised $10 billion. The average rates were more moderate, with the highest average being 8 percent.
The Government also offered $5 billion of the 10 percent bond due 2037 with a duration of 15.5 years. The auction attracted $6.759 billion that resulted in an average yield of 7.9614 percent. The lowest rate was 6.7 percent for $50 million and the highest success rate was 10 percent. The highest submitted bid was 12.999 percent. A total of 56 bids went after the bond, with 46 being successful.
The 5.675 percent bond due 2029, with a duration of 7.5 years, ended with an average yield of 6.3506 percent. The auction attracted $2.727 billion, of which $1 billion was allocated. The lowest rate was 5.575 percent for $100 million and the highest success rate was 6.94 percent. The highest submitted bid was 11 percent.  This instrument received 43 submissions, with only 18 being successful.
The 4.5 percent bond due 2025, with a duration of 3.5 years, delivered an average yield of 6.2329 percent. Bids from 51 applicants amounting to $4.779 billion chased the $4 billion on offer. Only 44 bids succeeded in getting allocated. The lowest rate was 4.5 percent for $44 million, with the highest success rate of 10.525 percent. The highest submitted bid was 11 percent covering $100 million.
The increased rates come against the background of recent moves by Jamaica’s central bank to hike rates and move towards an era of positive interest rates. Since making their intention known, the bank raised its overnight rate from 0.50 percent to 2 percent in September and November, while rates on 30 days CDs moved to 4.11 percent from 0.59 percent since the beginning of August and 2.15 percent at the September 22 Auction.

Main Market rally not on solid ground

Market activity ended on Monday with the volume of shares trading rising 37 percent and the value climbing 33 percent higher than on Friday on the Jamaica Stock Exchange Main Market as rising stocks lagged those declining by a big margin of one to two.
The All Jamaican Composite Index rallied 643.07 points to settle at 433,108.93, the JSE Main Index advanced 1,574.06 points to 392,794.42 and the JSE Financial Index picked up 0.88 points to end at 96.48.
Trading ended with 59 securities, up from 50 on Friday, with 14 rising, 30 declining and 15 ending unchanged. The PE Ratio, a formula for computing appropriate stock values, averages 15.7. The PE ratio for the JSE Main and USD Market closing quotes are based on earnings forecasts computed by ICInsider.com for companies with financial years ending between the current year and August 2022.
Trading ended with 10,513,011 shares changing hands for $104,608,393 up from 7,647,903 units at $78,855,103 on Friday. Wigton Windfarm led trading with 32.7 percent of total volume with a transfer of 3.44 million shares, followed by Transjamaican Highway with 27.4 percent for 2.88 million units and JMMB Group 7 percent with 739,927 units changing hands.
Trading averages 178,187 units at $1,773,024, compared to 152,958 shares at $1,577,102 on Friday and month to date, an average of 237,936 units at $2,698,072, up from 241,379 units at $2,751,371 on Friday. October closed with an average of 251,350 units at $2,773,208.
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, Barita Investments shed $1.44 to close at $90.70 with 7,999 stock units changing hands, Caribbean Cement declined $3.40 to $83.10, with 129,631 units clearing the market. Eppley Caribbean Property Fund advanced $4 to $38 in trading 98,020 stocks, Guardian Holdings spiked $20 to $540 with a transfer of 14 shares, Jamaica Broilers slipped 75 cents to end at $28.70 in exchanging 114,430 stock units. Jamaica Producers shed $1.69 to end at $22.26 with the swapping of 4,944 units, Jamaica Stock Exchange rallied 50 cents in closing at $17.50 with an exchange of 14,469 stocks, Mayberry Investments lost 45 cents to close at $7.55 with 66,400 stock units crossing the exchange. NCB Financial rose $1.64 to $120.94 in switching ownership of 49,909 stocks, 138 Student Living fell $1.58 in closing at $3.11 in exchanging 4,743 shares, Palace Amusement dropped $73 to $957 with 130 units crossing the market, PanJam Investment declined $8.45 to close at $64.55 in transferring 16,213 shares. Portland JSX spiked $1 in closing at $7.70 with the swapping of 797 stock units, Proven Investments lost 40 cents after ending at $33.40, with 2,064 stocks crossing the market, Sagicor Group popped $2.30 to end at $55 in an exchange of 486,386 units. Salada Foods dipped 40 cents to $6.50 with 19,775 shares changing hands, Scotia Group lost 52 cents to $37.45 in trading 27,687 units, Seprod shed 80 cents to end at $63.20 in switching ownership of 13 shares. Supreme Ventures fell 49 cents to $17.31 in an exchange of 8,575 stock units, Sygnus Credit Investments dipped 46 cents to close at $15.04 after clearing the market with 58,031 stocks and Wisynco Group lost 29 cents to $16.71 with 93,881 shares changing hands.
In the preference segment, Eppley 7.50% preference share rose 90 cents to end at $6.90 in trading 602 stock units and Productive Business Solutions 9.75% preference shares advanced $3 in closing at $104 with 17 units crossing the market.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.