JSE: Light trading, advancers dominate

Monday, 10th June 2013 | Probably the most noted features of Monday’s trading was the continued strong positive advance decline ratio which started in the first week in April. At the end of the day, the indication from the bids and offers suggest further gains ahead with bids for 11 stocks being higher and only 1 stock had the offer that was lower than the last selling price.

A total of 3,390,391 shares valued at $22,151,233 traded, on a day when 24 stocks traded with 11 gaining and 4 declined in price continuing a strong advance decline ratio that has been present throughout May and now into June.

Trading was on the light side as only Jamaica Money Market Brokers exceeded the million share mark with 1.5 million units valued at $13 million. Caribbean Creams traded 613,481 units and Caribbean Producers 420,613 units were the other volumes of note.

Price movements were moderate with National Commercial Bank gaining 20 cents to close at $19.20, Sagicor Life closed at $9.43 up 3 cents and Scotia Group up 50 cents to close at $22, having traded as high as $23 during trading.

Access Financial Services reached a new all time high of $8.10 as well as Blue Power which closed at $8.10.

Stocks to watch

  • Access
  • Blue Power
  • Consolidated Bakeries
  • JMMB
  • Sagicor Investments

JSEIndicesJun10

JSE: Profit taking took prices down

Friday, 7th June 2013 | The market indices that had trading activity recorded declines even as the advance decline ratio was one to one, with 8 stocks advancing and 8 declining. But by the end of trading, bids for 8 stocks were higher and 2 stocks had offers that were lower than their last selling price. Trading was much lighter than for most of the week with 3,738,986 units valued at $21.2 million as only 25 companies had stocks trading.

The all Jamaica composite index closed down 498.47 points at 89,195.42 and the main market index closed at 87,495.76 falling 283.14 and the junior market index closed at 747.27 down 2.68 points.

Price movements | Grace lost $1 in closing at $59, less than the bid price in Trinidad, NCB lost $3 to close at $19, similar to the price in Trinidad. JMMB lost 34 cents to close at $8.65 close to the Trinidad closing price, Sagicor Life lost 40 cents and closed at $8.60.

One noticeable trade was Caribbean Creams that traded 948,000 units, the largest volume for the day, between $1.03 and $1.10 all but 21,000 were purchased by Mayberry Investments for their own account.

JSEIndicesJun7

JSE: 18 stocks up, 5 down, index falls

Thursday, 6th June 2013 | There was broad based trading on Thursday as shares in 31 companies traded resulting in 18 stocks registering positive price changes and only 5 fell. In what turned out to be a relatively low trading day, just 2.55 million shares valued at $17 million traded. Junior market Blue Power traded 912,587 units up to $8 an all time high with a total value of $7.3 million. Scotia Group traded 129,408 shares valued at $2.77 million, closed at $21.20 and traded at a high of $23.08. Lasco Financial Services traded 127,078 units to close at $10. All other stocks traded less than a million dollars.

Main movers | Scotia Investment recovered $1.50 of the $4 it lost in trading on Wednesday with the stock closing at $27 but it had a bid of $27 at the end of trading. Desnoes & Geddes gained 25 cents to close at $4.95, Carreras gained 70 cents to close at $60, Jamaica Producers closed at $18 up 94 cents for the day. Jamaican Teas traded up 20 cents at $4.60. National Commercial Bank gained 90 cents to close at $22 but the offer was at $21 at the end of trading. Pan Jamaican Investments traded up 50 cents and closed at $55.01. Scotia Group closed at $21.20, off 31 cents on the day.

First Caribbean Bank lost $2 to close at a 52 weeks low of $101.

But by the end of trading, bids for 5 stocks were higher and 2 stocks had offers that were lower than their last selling price.

JSEIndicesJun6

JSE: Trading levels up again

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Wednesday, 5th June 2013 | The main indices recorded advances in today’s trading except for a small decline in the junior market index. But advance decline ratio turned negative with 8 stocks advancing and 12 declining. But by the end of trading, bids for 10 stocks were higher and 1 stock had an offer that was lower than the last selling price. There was heavier trading than has happened for sometime with $127 billion being expended on 11.87 million shares.

The all Jamaica composite index closed up 174 points at 89,985.22 and the main market index closed at 88,466.47 up 98.67 points.

Main movers | Desnoes & Geddes which traded at $5.10 closed down 20 cents at $4.70 while trading 694,173 units, Carreras fell 70 cents in trading 23,568 units. Jamaica Broilers traded up 21 cents to close at $4.83 with 460,913 units having changed hands. Kingston Wharves traded 329,566 units and put on 19 cents in closing at $7.81 after trading as high as $8. Lasco Manufacturing saw profit taking, with 990,188 units trading closing at $13.85 down 15 cents on the day. National Commercial Bank traded 1 million shares and slipped back 10 cents at the close at $21.10, the stock traded down to $19.17 at one stage.

Pan Jamaican Investments traded 20,500 units and gained 51 cents and closed at $54.51. RJR had just two trades which accounted for 2.989 million units and inched up 5 cents to close at $1.35. Sagicor Life put on 48 cents in closing at $8.99 but only traded 65,152 units between $8.50 and the closing price. Scotia Group had 17 trades that accounted for 712,000 units between $21.20 and $23.50 with the stock closing at $21.51up 42 cents on the day. Scotia Investment had 5 trades that accounted for 1.29 million units with the stock closing at $25.50 down $4 but it had a bid of $27 at the end of trading. Seprod traded 527,000 units at $14.61 and gained 11 cents and Supreme Ventures saw 771,000 units being exchanged for 10 cents less at $2.90 by the end of the day.

Based on trades for a few stocks it appears that some special deals were done resulting in adjustments in the prices of some, which does not conform to recent market movements.

JSEIndicesJun5

JSE market bullish but paused

Tuesday, 4th June 2013 | The market took a pause today with all the major indices declining as the day saw one of the highest levels of trading for sometime with 13.7 million shares trading with a value of $108 million. At the end of trading 5 stocks bids were higher and 1 stock had offers lower than the last selling price and 2 stocks reached 52 weeks highs.

Price changes | 14 stocks registered price appreciation and 8 declined on a day when 31 stocks traded. Price movements of note are Jamaica Broilers traded 1.55 million units and the price was down 38 cents, JMMB down 50 cents to $9 while there was another day of high trading in the stock with over 3 million units changing hands. National Commercial Bank traded 587,200 between 21 and $22 but closed 20 cents up at 21.20, Pan Jam shed $3 to close at $54 while 31,356 units traded and it was $2.92 up on Scotia Investments when 306,600 units traded between $27 and the closing price of $29.50.

Supreme Ventures traded nearly 2 million shares between $2.90 and $30 and gained 10 cents in the process.

Juniors | In the junior market, Access Financial Services up 41 cents to close back at $8 with a mere 2,700 shares trading, Lasco Distributors fell 90 cents to $14, while trading 47,000 units, Lasco Manufacturing closed at $14 down $1.35 while trading 69,500 units. The stock traded between $14 and $15.35 during the day.

Volume | Decent volumes came from General Accident, Gleaner, RJR, Sagicor Investments, Sagicor Life and Scotia Group.

JSEIndicesJun4

JSE jumps as Scotia buys JMMB shares

Monday, 3rd June 2013 | JMMB traded 4.57 million shares, all of which were bought by Scotia Investments for their own account and for clients except for 4,300 units bought by JMMB but sold from in-house for a client. Of the total amount of JMMB shares that traded, 2.7 million units traded at $9.50 each. The rest of the trades took place mostly at $9 per share. The stock traded up 50 cents for the day.

The All Jamaica Composite index closed up a strong 1,544.25 points to close 89,987.54 on day that saw 7.36 million units trading. The index closed at the highest level since January 8th this year when it closed at 89,699.10.

Stocks Gains | Jamaica Broilers traded up to $5 with 1.5 million shares changing hands. Kingston Wharves closed at 52 weeks high of $8, up 40 cents, while trading 10,000 shares on the day. Carreras and Grace Kennedy continued to be in demand, with the former trading 128,110 shares valued at $7.73 million while loosing 45 cents in closing at $60.45 and Grace trading 122,331 units valued at $7.35 million without a price change.

Bull2_150X150Junior market | The junior market was active with AMG Packaging trading 276,077 units in one trade with the stock closing up 10 cents at $4.15. Paramount traded 163,597 units while closing at an all time high of $3.60 up 20 cents. The stock closed with a bid of 559,806 units at $3.50 with no stock on offer which suggests that it will trade higher before long. Access Finance closed down 41 cents to $7.59 on very low volume, Blue Power traded up 71 cents to close at $7.52, an all time high, as 100,200 shares traded. All three Lasco companies traded but not heavily. Manufacturing closed at $15.35 off 4 cents from Friday’s close, Distributors fell slightly, by 10 cents and Financial Services gained 20 cents on Friday’s last traded price.

Advancing stocks greater |  There was trading in 23 stocks on a day that was not all that active. The momentum of the market continues with advancing stocks continuing to be most dominant over declining ones 14 to 5. Four stocks traded at 52 weeks high including Proven ordinary which traded up 0.5 US cents to close at 11.5 US cents.

An indication of things to come can be seen from the bid and offers in relation to the last selling prices. At the end of trading there were 7 stocks with bids higher and only 1 stock with offer that is lower than the last sale price.

  • The main Market Index advanced by 877.17 points (1.00%) to close at 88,455.09.
  • The Select Index advanced by 48.71 points (2.00%) to close at 2,483.29.
  • The All Jamaican Composite was up by 1,544.25 points (1.75%) to 89,987.54.
  • The Junior Market Index advanced by 7.96 points (1.05%) to close at 767.89.
  • The Combined Index advanced by 900.62 points (1.00%) to close at 90,624.63.
  • The US Equities Index advanced by 3.57 points (4.54%) to close at 82.14.

JSEIndicesJun3

 

JSE: Junior market jumps 23% in May

Junior market stocks climbed 23 percent on average in May as all but 5 stocks increased in price. Three stocks registered price losses and one, C2W, did not trade. Caribbean Cream, newly listed during the month, traded as a high as $1.15 but closed on the last day at the issue price of $1. Lasco Distributors gained 56 percent, Lasco manufacturing gained 46 percent, Lasco Financial Services 32 percent, Blue Power 24 percent and Consolidated Bakery fell 37 percent. A major part of the move was fueled by the announcement last week by Lacso companies that they were calling a meeting of shareholders to consider a 10 for 1 stock split for all three entities that are listed on the junior market.

BullMarket280x150The main market activity was not as robust as the junior market. In contrast to the 23 percent movement in the junior market index the JSE Market Index advanced by 4,101.54 points (4.68 percent) to close at 87,577.92. The JSE Cross Listed Index advanced by 8.29 points (1.02 percent) to close at 810.31, the JSE Combined Index advanced by 4,806.77 points (5.36 percent) to close at 89,724.01 and The JSE US Equities Index remained unchanged. The main market did have some attractive gains by some of the companies. Good results helped Kingston Wharves climbed 30 percent during the month, Ciboney recorded a gain of 50 percent, Berger Pzints moved up 22 percent, D&G 21 percent, Pan jam 15 percent, JMMB 13 percent as only 4 stocks fell and 21 gained in price.

While the junior market may have lead the main market so far, there are signs that the main market could do well in the weeks ahead as investors reassess the fortunes of some of the listed companies.

JSE: Trading picked up momentum

Friday, 31st May 2013 | The stock market had one of the most active days with 33 stocks trading for a volume of 24,880,202 units with a value of $53,568,552. Although 10 stocks advanced in price with 6 declining, all indices fell marginally by less than 10 points.

Consolidated Bakeries had one trade which amounted to 18.3 million units at $1.01 each. This was a cross done by Stocks & Securities on behalf of clients. Two of the Lasco companies responded to the release of audited full year results with Lasco Manufacturing gaining 19 cents to close at $15.39 and Distributors gained 40 cents to close up at $15.

Results impact | Lasco Financial Services which released results after trading closed lost 35 cents to close the day at $9.80. The company reported earnings of $1.33, up strongly on the 83 cents earned in 2012. This should be enough to push the stock up next week.

Access Financial traded at an all-time high of $8 with 65,151 units changing hands. Carreras gained 45 cents to close at $60.45 with 9,324 units trading. The company had reported slight improvement in earnings from ongoing business of $6.14 versus $5.35 in 2012.

Graph_paper_up280x150JMMB put on 50 cents while trading 1,169,369 units valued at $10.54 million. The stock responded to full year results to March with earnings of $2.35 per share compared to $1.55 in the previous year. The group’s earnings were boosted by a one-off gain of $2 billion booked when it acquired the shares of Capital & Credit Group last year, the effect of this was reduced by $750 million loss when government bonds were swapped out in February this year as well as $181 million written off for impairment to financial and intangible assets. Without these charges earnings would have been up to approximately $1.65 per share. In 2012 the group had picked up a large one-off gain from trading in certain security that was not expected to recur.

Late Move | Late in trading, National Commercial Bank gained $2 to close at $21, Pan Jam posted a $2 gain on to close at $57 with just 4,980 units trading. Scotia Group shed 74 cents to close at $21.06 after it traded as high as $22 with 306,220 units trading for $6.48 million. Scotia Investments lost 42 cents to close at $26.48 with 7,000 shares trading. Supreme Ventures traded 2.76 million units between $2.90 and $3 but closed at $3. in the junior market, newly listed Caribbean Creams traded 1.12 million units between a $1 and $1.10 and closed at $1, the IPO price.

Stocks that could move | At the close, 9 stocks had bids that were higher than the last selling price and there were 3 offers below the last selling price. Lasco Manufacturing closed at a 52 weeks high, Access Financial closed at an all time high. Kingston Wharves traded at a 52 weeks high of $8.50 but closed lower than yesterday’s price.

JSEINdicesMay31

JSE: Junior market dominant

Thursday, 30th May 2013 | Trading activity was mostly focused on the junior market as the Lasco stocks all traded at 52 weeks highs for the day. Lasco Financial closed at $10.15 up $1.15 an all time high, 154,320 units traded between $10 and $10.15, manufacturing traded 66,350 units and closed at $15.20 up a $1.20 an all time high and distributors traded at $15.40 an all time high but slipped back to $14.60 at the close, while trading 131,348 units. Blue Power closed at $6.81 up 61 cents for the day when 42,000 shares traded. Dolphin Cove traded 208,868 units at $8.35, Consolidated Bakery saw 975,000 units going through the market for $1.01 each.

The junior market index closed at 761.34 up 13.70 points on the day. Technically, this leg of the junior market movement should take it to 950 points with a second leg to 1,350 or beyond. The second leg may seem like a stretch at first, but with interest rates so low the potential for stocks have gone up, making present PEs much lower than they may first appear to be. The junior market index 50-day moving average has crossed over the 120-day moving index and the current level of the index is well above the 200-day moving average. The 50-day moving average is about to cross over the 200-day moving average — all bullish signals.

BullMarket280x150Investors may have to wait on the next set of company results to see a major push of the index upwards. The three Lasco companies were the main pushers this week. Their last quarter results cannot be expected to push their price much further for now. The stocks are selling at a PE of 10 times the latest earnings, a level that some other junior companies are trading at. Blue Power, Caribbean Cream and Paramount Trading should be releasing full-year results soon and that could help the market move further.

The Main Market | The all Jamaica index closed over 88,000 points when it hit 88,443.97 points, up 494.15 and the highest since January 23  when it closed at  88,841.39. Notwithstanding the index move, the market was pretty subdued today.  The major movers in the main market were Grace put on 75 cents, JMMB 49 cents and Kingston Wharves 50 cents.

The JSE market has broken out of the downward channel and is poised for the 105,000, with 130,000 as the next major target.

The market traded 6.2 million shares at a value of $28.8 million as 10 stocks advanced and 6 declined.

JSEINdicesMay30

JSE: Juniors marching on

Wednesday, 29th May 2013 | The junior market index jumped 4.33 percent today, the most by any of the indices as most of the market focus was on these stocks. With the exception of cross traded index and the US dollar indices, where no price action took place, all other indices moved up on a day of light trading.

The junior market index closed up 31 points and closed at 747.64, not very far from the important 800 level where resistance comes into play. The all Jamaica index closed up 188.48 points to close the day at 87,949.82 on a day when market activity was low and only $8,804,947 worth of stocks traded.

52 weeks High | Six stocks traded at new 52 weeks high during the day with 3 ending up closing at 52 weeks high. Lasco Financial traded as high as $10 but closed at $9.50 which remains the highest closing price. The same went for Jamaican Teas that traded at $4.60 during the day but closed back at the 52 weeks high previously attained this month at $4.40.

Lasco Distributors closed at $15 while gaining $1.30 for the day and Manufacturing put on $1 and closed at $14, Grace Kennedy closed at $60.25 but traded as high as $62 failing to record a new 52 weeks high at the close. Kingston Wharves closed at $7.50 the highest price attained in the last 12 months while gaining 48 cents.

JSEINdicesMay29