Outdated JSE rule blocks FosRich trades

December 20, 2017 by

Investors cant get their money out of FosRich stock as JSE rules preventing trading.

For the second consecutive day, what is clearly an outdated circuit breaker rule of the Jamaica Stock Exchange, prevented trading in shares of FosRich, after it listed on the Junior Market of the on Tuesday, following a successful IPO.
Attempts were made to trade shares at $3 and $4 on Tuesday and again at $4 on Wednesday but the prices exceeded the 30 percent daily limit permitted by the exchange on both days. So even as there are clear signs of demand at $4, no trading can take place at that level as the 30 percent daily price movement limitation, puts the maximum price at $3.89.
Having had similar problems when Express Catering and Stationery and Office Supplies listed in the summer months this year, investors would be forgiven if they were of the view that the JSE had moved speedily to correct what is clearly a problem when IPOs start trading.
Trading in the wider market on Wednesday only 11 securities changed hands, resulting in an exchange of just 393,186 units valued at $1,610,823 trading down sharply from the 3,645,919 units valued at $16,409,735 on Tuesday from trading in 19 securities.
At the close of market activities, the prices of 6 securities advanced, 2 declined and 3 remained unchanged, leading to the Junior Market Index gaining just 3.01 points to close at 2,703.75.
Trading ended with an average of 35,744 units for an average of $146,438 in contrast to 191,890 units for an average of $863,670 on Tuesday. The average volume and value for the month to date, amounts to 600,336 units valued at $2,793,615 and previously, 625,999 units valued at $2,913,941. In contrast, November closed with average of 107,477 units valued at $545,989 for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 4 stocks ending with bids higher than the last selling prices and 9 with lower offers.
At the close of the market, Cargo Handlers ended trading 2 cents higher at $10.87, with 101 stock units trading, Caribbean Producers closed at $3.80, with 111,700 shares changing hands, Dolphin Cove finished 50 cents higher at $17, with 1,157 shares, Jamaican Teas concluded trading with a loss of 35 cents at $3.65, with 6,206 units, Jetcon Corporation finished at $4.40, with 3,000 shares. Lasco Distributors ended trading 14 cents higher at $3.99, with 107,138 shares, Lasco Financial closed 18 cents higher at $5.18, with 2,400 shares, Lasco Manufacturing ended with a loss of 14 cents at $3.51, with 75,281 stock units, Main Event concluded trading at $5.30, with 4,869 units, Paramount Trading settled 2 cents higher at $3.02, with 400 shares and Stationery and Office ended trading 14 cents higher at $4.99, with 80,934 stock units.

Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , ,

JSE up on reduced activity

December 19, 2017 by

At the close of trading, the JSE All Jamaican Composite Index climbed 631.47 points, to close at 305,165.60 and the JSE Index advanced 575.34 points to 278,040.36. Main market activity ended with 21 securities changing hands, of which 8 advanced, 5 declined and 7 traded unchanged.
Market activities ended with 2,309,034 units valued at $75,261,191 trading, compared to 8,452,293 units valued at $389,568,108 from 20 securities changing hands on Monday.
Trading ended with an average of 109,954 units for an average of $3,583,866 in contrast to 422,615 units for an average of $19,478,405 on Monday. The average volume and value for the month to date amounts to 310,531 units valued at $5,955,270 and previously, 325,310 units valued at $6,146,072. In contrast, November closed with average of 349,084 units at an average of $5,801,440 for each security traded.
IC bid-offer Indicator| At the end of trading in the main and the US dollar markets, the Investor’s Choice bid-offer indicator reading shows 11 stocks ended with bids higher than their last selling prices and 2 with lower offers.
Traded in the US dollar market ended with Proven Investments US ordinary share having 1,101,440 units changing hands valued at US 247,816 in closing at 22 US cents, after falling by a fraction of a cent, with the JSE USD Equities Index closing 2.29 points up to close at 172.84.
The major movers at the close, are Jamaica Broilers ending with a rise of 90 cents, JMMB Group gaining 99 cents, Kingston Wharves rising 95 cents, PanJam Investment concluded with a loss of $1.50 and Scotia Group falling $1.85.

For more details of market activities see – “8 JSE stocks rise 5 fall.”

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , ,

8 JSE stocks rise 5 fall

December 19, 2017 by

Trading on the Main Market of the Jamaica Stock Exchange concluded on Tuesday with 21 securities changing hands, with 8 rising, 5 declining and 7 trading unchanged with 2,309,034 units valued at $75,261,191 changing hands.
In the market activity, the JSE All Jamaican Composite Index rose 631.47 points to close at 305,165.60 and the JSE Index advanced by 575.34 points to 278,040.36.
In the main activity, Berger Paints finished at $16, with 11,305 shares, Cable & Wireless closed with a loss of 5 cents at 95 cents, with 22,975 shares, Caribbean Cement ended trading 30 cents higher at $32, with 26,250 stock units, Carreras traded 1 cent higher at $11, with 783,538 units, Ciboney Group finished trading 6 cents higher at $0.41, with 183,550 shares. Grace Kennedy closed at $42.50, with 98,955 shares, Jamaica Broilers ended 90 cents higher at $18.40, with 10,790 stock units, Jamaica Producers concluded trading with a loss of 5 cents at $15.15, with 7,104 units, JMMB Group settled 99 cents higher at $25, with 21,288 shares. Kingston Wharves traded 95 cents higher at $31, with 121,486 units, Mayberry Investments rose 5 cents to $6, with 120,000 shares, NCB Financial Group closed at $98.99, with 391,496 shares, PanJam Investment concluded trading with a loss of $1.50 at $43.50, with 189,476 units. Pulse Investments settled at $1.78, with 500 shares, Sagicor Group traded at $35.50, with 104,400 units, Sagicor Real Estate Fund finished trading with a loss of 50 cents at $14.50, with 6,991 shares, Salada Foods Jamaica closed 10 cents higher at $9.95, with 5,000 shares. Scotia Group ended with a loss of $1.85 at $50.05, with 83,333 stock units, Seprod concluded trading at $30, with 2,016 units and Supreme Ventures settled at $10.70, with 93,582 shares. In the main market preference segment, JMMB Group ended trading at at $1.15, with 29,499 stock units trading.

Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “JSE up on reduced activity.”

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FosRich lists – no official trades

December 19, 2017 by

Shares of FosRich were listed on the Junior Market of the Jamaica Stock Exchange on Tuesday, after a successful IPO.  Attempts were made to trade shares at $3 and $4 but the prices exceeded the 30 percent daily limit, permitted by the exchange.
The stock closed with a bid of $2.70 at the close to buy 20,000 shares and was offered for sale at $4.
Trading in the market ended with 19 securities changing hands, resulting in an exchange of 3,645,919 units valued at $16,409,735 compared to 131,071,391 units valued at $618,747,079 on Monday from 14 securities trading.
At the close of market activities, the prices of 7 securities advanced, 8 declined and 4 remained unchanged with two closing at 52 weeks’ low. The Junior Market Index slipped 3 points to close at 2,700.74.
Trading ended with an average of 191,890 units for an average of $863,670 in contrast to 7,710,082 units for an average of $36,396,887 on Monday. The average volume and value for the month to date, amounts to 625,999 units valued at $2,913,941 and previously, 681,693 units valued at $3,088,628. In contrast, November closed with average of 107,477 units valued at $545,989 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 6 stocks ending with bids higher than the last selling prices and 5 with lower offers.
At the close of the market, Access Financial closed at $42, with 3,000 shares, AMG Packaging ended with a loss of 3 cents at $2.87, with 6,000 stock units, Cargo Handlers ended trading with a loss of 5 cents at $10.85, with 1,000 stock units, Caribbean Cream traded with a loss of 20 cents end at a 52 weeks’ low of $4.80, with 2,002,200 units, Derrimon Trading concluded trading $1 higher at $8, with 10,000 units. Express Catering ended trading at $4.30, with 71,358 stock units, General Accident traded with a loss of 15 cents at $2.75, with 205,000 units, Honey Bun finished trading 50 cents higher at $4.50, with 24,475 shares, Jamaican Teas concluded trading 35 cents higher at $4, with 3,559 units. Jetcon Corporation gained 10 cents to $4.40, with 148,000 shares, Knutsford Express traded with a loss of 50 cents at $14, with 365 units, Lasco Distributors lost 5 cents to end at $3.85, with 789,740 shares, Lasco Financial closed with a loss of 10 cents at $5, with 204,857 shares. Lasco Manufacturing ended 5 cents higher at $3.65, with 64,240 stock units, Main Event concluded trading 2 cents higher at $5.30, with 1,356 units, Medical Disposables finished at $5, with 16,033 shares, Stationery and Office ended trading 5 cents higher at $4.85, with 89,188 stock units. Sweet River traded at $3.85, with 2,265 units and tTech finished trading with a loss of 18 cents to close t 52 weeks’ low of $5.18, with 3,283 shares trading.

Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , ,

Producers & NCB dominate trading – Monday

December 18, 2017 by

Trading on the Main Market of the Jamaica Stock Exchange, closed on Monday with 20 securities changing hands. 9 advanced, 7 declined and 2 traded firm resulting in 8,452,293 units valued at $389,568,108 trading as Jamaica Producers with 4.36 million shares and NCB Financial with 3.14 million shares, dominated trading.
At the close, the JSE All Jamaican Composite Index declined by 238.01 points to close at 304,534.13 and the JSE Index shed 216.86 points to close at 277,465.02.
In the market activity, Berger Paints finished at $16, with 200 shares changing hands, Cable & Wireless settled 5 cents higher at $1, with 205,419 shares, Caribbean Cement ended trading with a loss of $1.30 at $31.70, with 4,243 stock units, Carreras traded with a loss of 51 cents at $10.99, with 117,938 units, Grace Kennedy closed 51 cents higher at $42.50, with 12,713 shares. Jamaica Broilers ended with a loss of 50 cents at $17.50, with 255,683 stock units, Jamaica Producers concluded trading 5 cents higher at $15.20, with 4,355,410 units, Jamaica Stock Exchange finished with a loss of 50 cents at $6.50, with 74,200 shares, JMMB Group settled 51 cents higher at $24.01, with 19,804 shares. Kingston Wharves traded with a loss of $1.95 at $30.05, with 5,927 units, Mayberry Investments finished trading 25 cents higher at $5.95, with 4,915 shares, NCB Financial Group closed with a loss of 1 cent at $98.99, with 3,140,031 shares, PanJam Investment concluded trading with a rise of $1 to $45, with 5,967 units. Radio Jamaica ended trading 4 cents higher at $1.05, with 134,756 stock units, Sagicor Group traded with a loss of $1.50 at $35.50, with 3,440 units, Sagicor Real Estate Fund finished trading at $15, with 1,718 shares, Scotia Group ended with a gain of $1.89 to $51.90, with 76,666 stock units and Supreme Ventures settled 69 cents higher at $10.70, with 13,469 shares. In the main market preference segment, Jamaica Money Market Brokers 7.5% traded 394 units at $1.90 and JMMB Group 7.5% ended trading at $1.50, with 19,400 stock units trading.

Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “JSE declines on Monday.”

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , ,

JSE declines on Monday

December 18, 2017 by

Market activities, closed with 8,452,293 units valued at $389,568,108 trading, compared to 52,433,941 units valued at $551,963,793 from 22 securities changing hands on Friday.
Trading ended with an average of 422,615 units for an average of $19,478,405 in contrast to 2,097,358 units for an average of $22,078,552 on Friday. The average volume and value for the month to date amounts to 325,310 units valued at $6,146,072 and previously, 317,967 units valued at $5,039,655. In contrast, November closed with average of 349,084 units at an average of $5,801,440 for each security traded.
IC bid-offer Indicator| At the end of trading in the main and the US dollar markets, the Investor’s Choice bid-offer indicator reading shows 10 stocks ended with bids higher than their last selling prices and 7 with lower offers.
3 securities traded in the US dollar market with Margaritaville traded just 400 shares and gained 1 cent to close at .2001 US cents, Proven Investments US ordinary share, traded 520 units changing hands in closing at 22.01 US cents, after falling by a cent, with the JSE USD Equities Index closing down 4.11 points to close at 170.55 as one stock rose and one declined. JMMB Group 6% Preference share traded 2,000 shares and fell 8 us cents to $1.12.
The major movers at the close, are Caribbean Cement that rose $1.30, PanJam Investment rose $1, Sagicor Group fell $1.50, while Scotia Group gained $1.89. Jamaica Producers traded 4.36 million shares and NCB Financial ended with 3.14 million shares changing hands.
For more details of market activities see – “Producers & NCB dominate trading – Monday.”

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , ,

Carib Producers dominates with 116M shares

December 18, 2017 by

Caribbean Producers traded 116m shares on Monday.

Caribbean Producers with a big block of 115.9 million shares and Eppley with 14.66 million units dominated trading on the Junior Market of the Jamaica Stock Exchange on Monday.
Trading ended with 17 securities changing hands, versus 14 securities trading on Friday and resulted in an exchange of 131,071,391 units valued at $618,747,079 compared to 1,589,921 units valued at $7,345,355 on Friday.
At the close of market activities, the prices of 8 securities advanced, 7 declined and 2 remained unchanged. The Junior Market Index advanced by 5.47 points to close at 2,703.74.
Trading ended with an average of 7,710,082 units for an average of $36,396,887 in contrast to 113,566 units for an average of $524,668 on Friday. The average volume and value for the month to date amounts to units 681,693 valued at $3,088,628 and previously, 81,430 units valued at $339,888. In contrast, November closed with average of 107,477 units valued at $545,989 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 5 stocks ending with bids higher than the last selling prices and 4 with lower offers.
At the close of the market, Access Financial climbed $3.50 to close at $42, with 698 shares trading, Cargo Handlers ended trading at $10.90, with 100 stock units, Caribbean Cream traded with a loss of 75 cents at $5, with 3,130 units, Caribbean Producers closed with a loss of 5 cents at $3.80, with 115,917,142 shares, Eppley settled $2 higher at $12, with 14,657,921 shares changing hands. Express Catering ended trading with a loss of 40 cents at $4.30, with 45,935 stock units, General Accident traded with a loss of 10 cents at $2.90, with 1,114 units, ISP Finance added $1 to end at $12, with 27,000 stock units, Jamaican Teas concluded trading 5 cents higher at $3.65, with 23,631 units. Jetcon Corporation finished at $4.30, with 96,000 shares, Knutsford Express traded with a loss of 30 cents at $14.50, with 1,145 units, Lasco Distributors finished trading with a loss of 70 cents at $3.90, with 164,100 shares, Lasco Financial closed 29 cents higher at $5.10, with 92,635 shares. Lasco Manufacturing ended 5 cents higher at $3.60, with 30,420 stock units, Main Event concluded trading 19 cents higher at $5.28, with 2,060 units, Paramount Trading settled 2 cents higher at $3, with 6,970 shares and tTech finished trading with a loss of 14 cents at $5.36, with 1,390 shares.
Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , ,

Junior Market climbs again on Friday

December 15, 2017 by

The Junior Market of the Jamaica Stock Exchange gained moderately on Friday, with the market index rising 27.01 points to close at 2,698.27 with less half the listings trading, as the prices of 9 securities advanced, 2 declined and 3 remained unchanged.
Trading on the Junior Market ended trading with 14 securities changing hands, resulting in an exchange of 1,589,921 units valued at $7,345,355 compared to 421,479 units valued at $1,639,472 from 15 securities trading on Thursday.
Trading ended with an average of 113,566 units for an average of $524,668, in contrast to 28,099 units for an average of $109,298 on Thursday. The average volume and value for the month to date, amounts to 81,430 units valued at $339,888 and previously, 79,086 shares valued at $326,414. In contrast, November closed with average of 107,477 units valued at $545,989 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 3 stocks ending with bids higher than the last selling prices and 4 with lower offers.
At the close of the market, Access Financial closed 50 cents higher at $38.50, with 5,000 shares, Blue Power concluded trading at $44, with 1,500 units, Caribbean Producers gained 24 cents and closed at $3.85, with 1,000,000 shares, Dolphin Cove finished with a loss of 50 cents at $16.50, with 70,132 shares, Express Catering ended trading 41 cents higher at $4.70, with 78,470 stock units. General Accident traded at $3, with 16,167 units, Honey Bun finished trading 1 cent higher at $4, with 76,200 shares, Jamaican Teas concluded trading with a loss of 10 cents at $3.60, with 79,443 units, Knutsford Express traded 5 cents higher at $14.80, with 1,700 units. Lasco Distributors finished trading 49 cents higher at $4.60, with 125,103 shares, Lasco Financial closed 6 cents higher at $4.81, with 17,206 shares, Lasco Manufacturing ended 25 cents higher at $3.55, with 12,000 stock units, Paramount Trading settled 10 cents higher at $2.98, with 70,000 shares and Stationery and Office ended trading at $4.80, with 37,000 stock units.

Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , ,

Supreme Ventures trades 51m shares – Friday

December 15, 2017 by

Supreme Ventures 50.86 million trade, was by far the largest on the Jamaica Stock Exchange on Friday, accounting for $509 million of the total amount traded, including two main blocks of 25 million units each.
Trading resulted in 52,433,941 units valued at $551,963,793 and closed with 13 securities advancing, 8 declining and 4 traded firm as 25 securities changed hands. At the close, the JSE All Jamaican Composite Index rose 824.75 points to 304,772.14 and the JSE Index advanced 751.44 points to close at 277,681.88.
In the market activity, Barita Investments concluded trading 20 cents higher at $7.95, with 21,250 units changing hands, Berger Paints finished with a loss of $1 at $16, with 4,850 shares, Cable & Wireless settled with a loss of 5 cents at 95 cents, with 71,897 shares, Caribbean Cement ended trading $2 higher at $33, with 15,171 stock units. Carreras traded 50 cents higher at $11.50, with 229,700 units, Grace Kennedy closed with a gain of 49 cents to $41.99, with 3,550 shares, Jamaica Broilers ended 70 cents higher at $18, with 22,839 stock units, Jamaica Producers concluded trading with a gain of 6 cents to $15.15, with 14,380 units changing hands. Jamaica Stock Exchange finished at $7, with 15,951 shares, JMMB Group settled with a loss of $2.40 at $23.50, with 427,304 shares trading, Kingston Wharves traded with a loss of 30 cents at $32, with 500 units, Mayberry Investments finished trading with a loss of 30 cents at $5.70, with 88,101 shares. NCB Financial Group closed at $99, with 177,145 shares, 1834 Investments gained 1 cent to $1.21, with 2,626 stock units, Palace Amusement jumped $10 to a record high of $560, with just 129 stock units trading, PanJam Investment concluded trading $4 higher at $44, with 10,250 units, Portland JSX rose 68 cents to $9.18, with 48,560 shares. Pulse Investments settled at $1.78, trading 800 shares, Radio Jamaica ended trading with a loss of 2 cents at $1.01, with 38,000 stock units, Sagicor Group traded $1.50 higher at $37, with 27,900 units, Sagicor Real Estate Fund finished trading at $15, with 106,818 shares. Scotia Group ended with a loss of $1.94 at $50.01, with 131,325 stock units trading, Seprod concluded trading $2.50 higher at $30, with 19,000 units and Supreme Ventures settled with a loss of 29 cents at $10.01, with 50,855,895 shares trading. In the main market preference segment, Jamaica Money Market Brokers 7.5% traded 100,000 units at $1.90 after rising by 5 cents.

Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “Supreme Ventures dominant trade – Friday.”

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Jamaican$ nears 125 to US$1 – Friday

December 15, 2017 by

Chart shows Jamaican$ could go back to 120 to US$1 in 2018.

The rate for exchanging the Jamaican dollar against the US dollar, declined by 22 cents in foreign currency trading on Friday, with trading volumes falling to lowest for the week of just over US$32 million.
On Friday, the public bought the US dollar at $125.49 as dealers sold US$33.37 million in US currency, compared US$45.59 million at an average rate of $125.71 on Thursday. US currency purchases by dealers, amounted to US$32.42 million on Friday, at an average rate of $124.22, compared to Thursday, with US$43.08 million at $124.63.
On Friday at midday dealers purchased US$10.65 million at an average rate of J$124.97 and sold US$7.6 million at an average of J$125.27. At mid-day on Thursday dealers purchased US$14.8 million at an average rate of J$125.06 while they sold US$8.4 million at an average of J$125.69.
Dealers’ purchased US$35.66 million, versus US$52.22 million on Thursday in all currencies in Jamaica’s Forex market and sold US$35.51 million compared with US$53.84 million sold, previously.
The selling rate for the Canadian dollar slipped to J$97.02 from J$98.04 at the close on Thursday. The selling rate for the British Pound dropped to J$167.01 versus J$169.65 previously and the euro lost value against the Jamaican dollar at J$148.34 to buy the European common currency, versus the prior selling rate of J$149.71.

Filed Under: Feature Stories, FX Market Tagged With: , , , , , , , , , ,