Main Market pull back

Rising stocks just edged out those declining on Tuesday, with the market indices declining for a second consecutive day, with the volume and value of shares traded climbed 219 percent and 273 percent, respectively compared to Monday on the Jamaica Stock Exchange Main Market.
At the close, the All Jamaican Composite Index fell 587.12 points to 453,898.22, the JSE Main Index shed 595.66 points to end at 416,337.09 and the JSE Financial Index slipped 0.30 points to 102.36.
Trading ended with 49 securities similar to Monday, with 20 stocks rising, 19 declining and 10 remaining unchanged, as Radio Jamaica closed trading at a 52 weeks’ high of $2 after hitting an intraday high of $2.10. The PE Ratio, a measure that determines an appropriate relative value of each stock, averages 16.2 based on ICInsider.com’s forecast of 2021-22 earnings.
The market closed with 45,475,975 shares trading for $256,468,028, up from 14,266,703 units at $68,667,411 on Monday. Stanley Motta dominated trading with 76.3 percent of total volume after an exchange of 34.70 million shares followed by Transjamaican Highway 7.4 percent with 3.35 million units, Wigton Windfarm 2.9 percent, with 1.34 million units, Radio Jamaica accounted for 2.7 percent, with 1.23 million units and Sagicor Select Financial Fund ended, with 2.4 percent after exchanging 1.09 million units.
Trading averaged 928,081 units at $5,234,041, compared to 291,157 shares at $1,401,376 on Monday. Trading month to date averages 365,726 units at $22,554,751, in contrast to 322,738 units at $23,878,799 on Monday. June ended with an average of 249,610 units at $3,877,606.
Investor’s Choice bid-offer indicator reading has thirteen stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments spiked $1.90 to $84 with 6,516 shares crossing the market, Berger Paints shed 85 cents to $13 with an exchange of 4,205 stocks, Caribbean Cement rallied 50 cents to $91.50 in trading 1,980 shares, First Rock Capital dipped 28 cents to $13.72 after transferring 46,395 units, GraceKennedy picked up 29 cents in ending at $99.99 with 35,976 units crossing the exchange, Guardian Holdings declined $10 to $646 in an exchange of 1,552 shares. Jamaica Broilers shed 83 cents to $36.03 with the swapping of 13,891 units, Jamaica Producers fell $1.50 to $21 in switching ownership of 705,137 stock units, JMMB Group gained 35 cents to finish at $38.50 in an exchange of 129,470 stocks, Mayberry Investments rose 61 cents to $6.15, with 2,503 units crossing the market, Palace Amusement declined $40 to $1,060 in transferring 87 shares. PanJam Investment popped $3.99 to $65 after exchanging 1,110 stock units, Sagicor Group slipped $3 to $52 with the swapping of 110,420 stocks, Sagicor Select Manufacturing & Distribution Fund popped 5 cents to 90 cents, with 440,711 stock units crossing the market. Scotia Group dipped 25 cents to $38.75, with 12,993 units crossing the exchange and Victoria Mutual Investments lost 49 cents after ending at $6 with 107,913 shares changing hands.
In the preference segment, Eppley 8.75% preference share lost 29 cents in closing at $7.20 after exchanging 4,083 stocks.
In the corporate bond market, Guardian Holdings 2027 7% traded 4.99 million units at $110 after falling 28 cents.

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

Gains & losses shared for JSE Main Market

Market activity ended on Monday with the main indices losing significant ground after an equal number of stocks advanced and declined after trading ended with an exchange of 10 percent fewer shares valued 24 percent higher than on Friday on the Jamaica Stock Exchange Main Market.
The All Jamaican Composite Index tumbled 3,626.92 points to 454,485.34, the JSE Main Index plunged 3,138.91 points to 416,932.75 and the JSE Financial Index fell 0.63 points to 102.66.
Trading ended with 49 securities compared to 48 on Friday, with 20 stocks rising, 20 declining and nine remaining unchanged. The PE Ratio, a measure that determines an appropriate relative value of each stock, averages 16.2 based on ICInsider.com’s forecast of 2021-22 earnings.
The market closed with 14,266,703 shares trading for $68,667,411 versus 15,819,699 units at $55,510,412 on Friday. Radio Jamaica led trading with 57.9 percent of total volume for an exchange of 8.25 million shares followed by Sagicor Select Financial Fund 15.8 percent with 2.25 million and Mayberry Jamaican Equities with 4.9 percent for 705,539 units changing hands.
Trading averaged 291,157 units at $1,401,376, compared to 329,577 shares at $1,156,467 on Friday. Trading month to date averages 322,738 units at $23,878,799, versus 325,352 units at $25,739,261 on Friday. June ended with an average of 249,610 units at $3,877,606.
Investor’s Choice bid-offer indicator shows 15 stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments fell $1.90 to $82.10, with 29,322 shares trading, Caribbean Cement shed $1 to $91 in an exchange of 56,037 shares, GraceKennedy slipped 30 cents to $99.70 in trading 27,020 stock units, Jamaica Producers fell $1.70 to $22.50 in switching ownership of 249,763 shares, JMMB Group skidded 85 cents to $38.15 with a transfer of 81,182 stock units. Kingston Properties spiked $1.05 to $9.05 with the swapping of 1,495 shares. Margaritaville picked up 25 cents to end at $14.75, with 1,600 units crossing the exchange, MPC Caribbean Clean Energy rallied $2.29 to $119.49 in trading 700 stocks. Palace Amusement advanced $5 to $1,100 in an exchange of 99 stock units, PanJam Investment declined $2.99 to close at $61.01 in switching ownership of 41,437 shares, Radio Jamaica spiked 32 cents to finish at a 52 weeks’ high of $1.99 with 8,253,929 shares changing hands, following the release of full year’s results, showing profits jumping from $38 million to $171 million and Seprod lost 55 cents after ending at $70 in transferring 11,666 stocks.
In the preference segment, Eppley 8.75% preference share rose 98 cents to $7.49 in switching ownership of 5,985 units and JMMB Group 7.35% – 2028 lost 30 cents to $3.20 with 290,403 shares crossing the market.

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

JSE majors slide into weekend

Stocks suffered a pullback on Friday with an increase of 146 percent in the volume of shares trading as investors put down 23 percent more funds in exchanging the shares than on Thursday on the Jamaica Stock Exchange Main Market and ended with 48 securities trading, similar to Thursday, with 12 stocks rising, 22 declining and 14 remaining unchanged.
At the close, the All Jamaican Composite Index fell 989.27 points to 458,112.26, the JSE Main Index shed 796.49 points to end at 420,071.66 and the JSE Financial Index dipped 0.30 points to 103.29.
The PE Ratio, a measure that determines an appropriate relative value of each stock, averages 16.1 based on ICInsider.com’s forecast of 2021-22 earnings.
A total of 15,819,699 shares traded for $55,510,412 versus 6,426,972 units at $45,152,359 on Thursday. Wigton Windfarm led trading with 50.5 percent of total volume for 7.98 million shares, followed by Radio Jamaica 17 percent, with 2.69 million units, QWI Investments controlled 8.6 percent, with 1.37 million units and Transjamaican Highway with 8.1 percent after 1.28 million units changed hands.
Trading averaged 329,577 units at $1,156,467, compared to 133,895 shares at $940,674 on Thursday. Trading month to date averages 325,352 units at $25,739,261, in contrast to 324,980 units at $27,908,331 on Thursday. June ended with an average of 249,610 units at $3,877,606.
Investor’s Choice bid-offer indicator reading has thirteen stocks ending with bids higher than their last selling prices and none with lower offers.
At the close, Eppley advanced $4.13 to end at $43.63 in trading 810 stocks, Guardian Holdings declined $18 to $656 in exchanging 21 units, Jamaica Broilers rose $1 to $37, crossing the exchange with 11,874 stock units. Jamaica Producers rose $1.20 in closing at $24.20 with the swapping of 17,086 stocks, JMMB Group rallied 50 cents in closing at $39 in transferring 147,747 shares, Kingston Properties shed $1.90 to settle at $8 in trading 15,000 stock units. Margaritaville lost 49 cents to end at $14.50 in exchanging 10,484 stocks, Mayberry Investments fell 61 cents to $5.54 in exchanging 30,946 stock units, Mayberry Jamaican Equities shed 85 cents to $9.15 after crossing the market with 5,907 units. NCB Financial Group slid $1 to $139 with 85,626 shares changing hands, 138 Student Living lost 30 cents to end at $4.80 in switching ownership of 3,077 units, Palace Amusement climbed $35 to close at $1,095 in exchanging 46 stock units, Pan Jam Investment shed 50 cents ending at $64 with a transfer of 22,897 shares. Proven Investments lost 50 cents to $34.10 with an exchange of 28,310 stocks, Scotia Group fell 50 cents in closing at $39 with a transfer of 27,409 stocks, Seprod declined $1.40 to end at $70.55 in trading 2,687 units. Supreme Ventures gained 30 cents to close at $19.10 with 50,732 stocks crossing the market and Sygnus Credit Investments lost 39 cents ending at $15 with an exchange of 17,822 stock units.
In the preference segment, Eppley 8.75% preference shares shed 99 cents in closing at $6.51 in switching ownership of 57 stock units.

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

Barita’ financials speak eloquently

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Financial statements don’t lie; they provide a window into the stewardship of companies for good or bad. There are good management and not so good ones and the financial reports tend to separate the good from the bad. In this regard, investors need to be assured that both interim and audited results are informative and can be trusted.

Barita eyeing expansion

Unfortunately, the stock exchange relies on the ICAJ to set standards for companies to report, but these fall short of what investors need to make a proper assessment in investing. The matter of reporting on the performance of companies to show gross profits separately from pretax profit is an area that is inconsistently applied. Some companies show direct cost and gross profit so investors can see the level of contribution made before selling marketing and administrative cost.
This publication finds Barita’s financials quite up to acceptable levels with disclosures, so why are investors questioning management’s stewardship?
Directors of Barita Investments met on July 14 and are recommending raising additional capital by the Company to be voted on at an extraordinary meeting set for August 3.
The announcement coming after the third such capital raise, with the last being September last year that raised $13.54 billion. The announcement has set off a mini storm within the financial community, with questions raised about the company and what is happening there.

Jason Chambers

Some investors marvel at the approach the directors are taking to fund capital needs. Worse they are asking the question, where has the money raised in public offers gone?
Cornerstone acquired 75 percent of the company in 2019 and set an aggressive dividend policy of 80 percent of net distributable profits. Since they acquired control of the company, profit retained exceeded the total profit reported for the last few years under the former management. But those funds are inadequate to fund the company’s expansion needs, fueled by growth in some critical areas of the Jamaican economy and soon regionally.
In commenting on Barita’s investment activity over the period from its September 2020 Additional Public Offering (“APO”) to March 2021, Jason Chambers, Chief Investment Officer of Cornerstone, said that the Company has “focused on allocating capital across high conviction, value-oriented opportunities.” He cited the marked expansion in credit and investment assets, acquisition of a twenty percent stake in Derrimon Trading Company costing north of J$2 billion as examples of the results of Barita’s year to date investment activity. We have materially expanded capital to our Investment Banking business line. In line with previous guidance, we have also originated and/or acquired significant investment assets, which will eventually form the basis of the launch of new and innovative investment products and structures. We have commenced investing in our footprint expansion and technological overhaul, which we expect will require staged investments over the next several quarters”, Chambers stated.
He cited the doubling of Barita’s 6-month profits to March 2020 as being a by-product of the Company’s ability to deploy the capital it raised in the APO efficiently and profitably. We, therefore, see certain aspects of our business as appropriately funded by long term capital to reduce the risks presented by asset-liability mismatches. This has served us very well, particularly most recently during the height of the market fall-out related to the COVID-19 pandemic last year when Barita maintained healthy liquidity, said Chambers.
Barita Investments was a sleepy little conservatively run investment bank whose directors focused on maintaining the status quo rather than taking advantage of the vast opportunities in the market.

Shareholders at Barita Investments AGM.

The company has gone about raising equity capital, not debt capital, so they don’t have to worry about repayment. They can also vary the aggressive dividend policy, even though that could affect the share valuation.
The argument by investors is reminiscent of two cases. One is the pile of negative comments Access IPO received when going public, back in 2010, by persons who were not adequately informed to be commenting on the issue.  In late 2016, a leading brokerage house concluded their assessment of Barita Investments as follows, “we expect just a marginal increase in year on year net profit. Given this expectation, we estimate BIL shares to be valued at approximately $2.35 by applying the market average P/E to the estimated EPS. Therefore at a current market price of $3.10, we are recommending a SELL on BIL.” At that time, ICInsdier.com placed a BUY RATING on the stock and it occupied the number 2 spot on the main market BUY RATED list.
The rationale by ICInsoder.com, while reported profit was down to $207 million from $242 million in 2015, total comprehensive income, the better measure of profitability was $691 million or $1.55 per share, compared to $201 million, a huge increase. In 2017, traditional profit slipped to $172 million after an impairment on investments charge of $81 million, total comprehensive income ended at $492 or $1.10 per share. For 2018, reported profit jumped to $374 million and total comprehensive income moved to $736 million or $1.65 per share. The lesson, if investors look only at traditional profits, they could miss big gains.
Profit after tax rose from $509 million to $1.04 billion in the March quarter and from $1 billion in the half year ended March 2020 to $2.06 billion in 2021, helped by the improved equity base.
Revenues nearly doubled for the quarter to $2.05 billion from $1.13 billion in 2020 and from $2.26 billion last year to $4.05 billion in 2021.
Total assets are now $79 billion, up from $49 billion at the end of the year ago and $71 billion at the end of September last year. Shareholders’ equity climbed from $14.4 billion in March 2020 to $28.7 billion in 2021. When the majority shares were acquired, total assets were just $17 billion and shareholders’ equity a mere $3 billion. Pledged assets jumped from $21.5 billion in March 2020 to $47 billion in the latest quarter, while loan receivables increased from $1.1 billion to $7.3 billion.

First Citizens Bank closed at 52 weeks’ high on Wednesday.

The 2020 raise of $13.5 billion was invested in increased loans to third parties amounting to $6 billion, net investment instruments of 13 billion and a 20 percent stake in Derrimon Trading amounting to $2 billion and a reduction in amounts due for payables of $5 billion. When the company meets with its shareholders, what is planned for the new raise will undoubtedly be put on the table. In the early months of 2019, this publication pointed to sources suggesting that the first rights issue should bring in fresh capital that is primarily targeted to fund an acquisition that has Caribbean wide locations and will make a big impact on profitability when fully integrated into the existing structure if the deal goes through. ICInsider.com gathers that the deal which is yet to materialize may not be off the table but may be taking longer than originally thought possible. Any fresh raise could well bring such prospects to the fore in addition to funding normal operations.
When all is said and done, First Citizens Bank in Trinidad, a bank group with total assets of J$1,090 billion, bought shares in last year’s APO and added to it subsequently, a strong seal of approval for the strategy Barita is pursuing. With the financial muscle of First Citizens and the small size of Barita there are areas for cooperation, including partnering to acquire assets or businesses. First Citizens is in talks to acquire Scotia Bank assets in Guyana as the bank pushes its regional expansion plans. Will Barita play a major role in this?

Stocks in retreat on Tuesday

Trading returned to more normal levels following Monday when 95 million shares of NCB Financial crossed the exchange following what the company states flowed from a director and a Senior Officer have surrendered the shares in the group under a new compensation arrangement.
Elsewhere, activity continued on Tuesday with the market declining with an exchange of 94 percent fewer shares valued 99 percent less than on Monday at the close of trading on the Jamaica Stock Exchange Main Market.
The main indices wiped out gains made over the past three trading days at the close, with the All Jamaican Composite Index plunging 8,432.60 points to 459,268.54, the JSE Main Index dived 7,836.94 points to end at 421,263.27 and the JSE Financial Index shed 2.12 points to 103.86.
Trading ended with 49 securities, as was the case on Monday, with 18 stocks rising, 19 declining and 12 remaining unchanged. The market commenced trading in Caribbean Producers shares previously listed on the Junior Market and investors exchanged 275,415 units at the close after a slow start to trading in the stock, well above the 58,282 traded on Monday 34,319 shares exchanged on Friday.
The PE Ratio, a measure that determines an appropriate relative value of each stock, averages 16.4 based on ICInsider.com’s forecast of 2021-22 earnings.
The market closed with 5,572,104 shares trading for $90,965,287 versus 102,643,964 units at $13,868,036,024 on Monday. Transjamaican Highway led trading with 35.7 percent of total volume for an exchange of 1.99 million shares, Sagicor Select Financial Fund 13.3 percent with 738,402 units and Grace Kennedy 9.2 percent with 513,821 units changing hands.
Trading averaged 113,716 units at $1,856,434, compared to 2,094,775 shares at $283,021,143 on Monday. Trading month to date averaged 362,662 units at $33,596,379, in contrast to 393,158 units at $37,484,522 on Monday. June ended with an average of 249,610 units at $3,877,606.
Investor’s Choice bid-offer indicator reading has 13 stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments fell $2.18 to $82.82 in exchanging 766 shares, Berger Paints shed 96 cents to close at $13.89 with an exchange of 28,360 shares, Eppley spiked $4.40 to $43.90 in trading 3,991 stock units. First Rock Capital rallied $2 to $15.50 with the swapping of 5,093 units, GraceKennedy dropped $4.92 to $98.28 in transferring 513,821 shares, Guardian Holdings plunged $35 to $650 in switching ownership of 3,966 units. Jamaica Stock Exchange popped 42 cents to $17.67 with 23,050 shares crossing the market, Kingston Properties lost 39 cents to close at $8.01 with 99,707 shares changing hands, Kingston Wharves gained 50 cents in closing at $48 trading 10,313 stocks. MPC Caribbean Clean Energy shed $12.45 to settle at $134.55, with 84 units clearing the market, Palace Amusement rallied $60 to $1,250 with 7 stocks changing hands, Pan Jam Investment shed $1.49 to $66.01, with 11,233 stock units crossing the exchange. Proven Investments rose 45 cents to $34.60 in switching ownership of 4,506 stocks, Sagicor Group fell $2.94 to $55 in exchanging 23,431 stock units, Seprod fell $1 to $71 in transferring 14,512 stocks, Sygnus Credit Investments rose 20 cents to $14.80 in trading 33,382 shares and Wisynco Group spiked 40 cents to $15.90 with the swapping of 17,180 stocks.
In the preference segment, Eppley 8.25% rose 92 cents to $6.98 in trading 5,007 stock units.

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

NCB Financial Monday’s dominant trade

NCB Financial traded 95.2 million shares costing $1.38 billion and commanded 93 percent of the overall volume of the market on Monday with driving the volume of shares exchanged up 11 times Friday’s levels with the value surging 4,808 percent higher on the Jamaica Stock Exchange Main Market.

NCB Financial Montego Bay branch

The All Jamaican Composite Index rose 3,234.89 points to close at 467,701.14, the JSE Main Index advanced 2,473.87 points to end at 429,100.21 and the JSE Financial Index rallied 0.56 points to 107.72.
Trading ended with 49 securities compared to 52 on Friday, with 15 stocks rising, 20 declining and 14 remaining unchanged. The PE Ratio, a measure that determines an appropriate value of each stock, averages 16.6 based on ICInsider.com’s forecast of 2021-22 earnings.
The market closed with 102,643,964 shares trading for $13,868,036,024 versus 9,325,241 units at $282,546,221 on Friday.  Wigton Windfarm was the second lead trade, with 1.54 percent for 1.58 million units, Transjamaican Highway followed with 1.5 percent for 1.51 million stock units and Sagicor Select Financial Fund 1.3 percent, with 1.38 million shares changing hands.
Trading averaged 2,094,775 units at $283,021,143, compared to 179,332 shares at $5,433,581 on Friday. Trading month to date averages 393,158 units at $37,484,522, versus 155,610 units at $3,207,330 on Friday. June ended with an average of 249,610 units at $3,877,606.
Investor’s Choice bid-offer indicator reading has nine stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments rose 95 cents to $85 with an exchange of 2,400 stock units, Caribbean Cement shed $1 to end at $91 with 4,849 stocks crossing the market, Eppley lost 79 cents in ending at $39.50 after an exchange of 12,416 stock units, Eppley Caribbean Property Fund plunged $5.89 to $41 with a transfer of 1,701 units, First Rock Capital dived $2.10 to $13.50 in switching ownership of 106,626 shares. Grace Kennedy slipped $1.69 to close at $103.20 with 314,616 shares crossing the market, Guardian Holdings popped $1 to $685 in trading 317 stock units, Jamaica Producers shed $1.92 to end at $22.03 with the swapping of 115,747 shares. Kingston Wharves fell $2.50 to $47.50 after 9,360 stock units crossed the market, Mayberry Investments popped 51 cents to $6.51 in exchanging 19,050 stocks. NCB Financial declined $7 to $139 in trading 95,187,289 shares, Palace Amusement plunged $110 to $1,190 with a transfer of 127 units. Pan Jam Investment shed $1.50 to close at $67.50 with 27,771 stock units changing hands, Sagicor Group spiked $2.94 to $57.94 after an exchange of 10,433 units, Salada Foods rose 28 cents to $8.90 in trading 21,207 stocks, Scotia Group shed 68 cents in ending at $39.50 after transferring 24,895 shares. Stanley Motta rose 20 cents to $5.90 with the swapping of 15 stock units, Supreme Ventures gained 32 cents to end at $19.32 in trading 1,162 units and Sygnus Credit Investments fell 40 cents to $14.60 with an exchange of 262,714 shares.
In the preference segment, Eppley 8.25% dropped $1.04 to $6.06 and exchanging 3,121 stocks, JMMB Group 7.15% – 2028 fell 45 cents to $2.90 in switching ownership of 63,006 shares and JMMB Group 7.25% rallied 27 cents to $1.53 with the swapping of 176 units.

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

JSE Main Market slips into weekend

Stocks slipped into the weekend on Friday, after an exchange of just 5 percent more shares valued 26 percent more than on Thursday, with the market indices lost grounds even after prices of more stocks rose than those declining on the Jamaica Stock Exchange Main Market.
The All Jamaican Composite Index shed 223.23 points to 464,466.25, the JSE Main Index slipped just 71.20 points to end at 426,626.34 and the JSE Financial Index ended 0.38 points lower to 105.42.
Trading ended with 52 securities compared to 50 on Thursday, with 22 stocks rising, 19 declining and 11 remaining unchanged. The PE Ratio, a measure that determines an appropriate value for a stock, averages 16.9 based on ICInsider.com’s forecast of 2021-22 earnings.
The market closed with 9,325,241 shares trading for $282,546,221, up from 8,889,308 units at $224,811,511 on Thursday. Transjamaican Highway led trading with 28.5 percent after trading 2.66 million shares followed by Caribbean Cement 21.7 percent with 2.02 million units and Sagicor Select Financial Fund with 11.3 percent after an exchange of 1.06 million units.
Trading averaged 179,332 units at $5,433,581, compared to 177,786 shares at $4,496,230 on Thursday. Trading month to date averages 155,610 units at $3,207,330, within distance of 151,484 units at $2,820,155 on Thursday. June ended with an average of 249,610 units at $3,877,606.
Investor’s Choice bid-offer indicator shows 14 stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Barita Investments shed 95 cents to close at $84.05 after an exchange of 24,203 shares, Caribbean Cement fell $1.75 to $92 with 2,024,458 shares crossing the exchange, Eppley rose 43 cents to 40.29 with 108 stocks clearing the market, Eppley Caribbean Property Fund declined $3.11 to $46.89 in trading 737 units. Grace Kennedy popped 89 cents to $104.89 with a transfer of 220,111 stock units, Guardian Holdings advanced $14 to $684 with 566 units changing hands, Jamaica Producers advanced $1.90 to $23.95 in an exchange of 3,045 stock units. Jamaica Stock Exchange fell 25 cents to $17.25 after clearing the market with 3,198 units, JMMB Group gained 45 cents in closing at $38 in switching ownership of 135,193 shares, Kingston Wharves rose $2.06 to $50 with 454,312 stock units crossing the market, MPC Caribbean Clean Energy climbed $30 to close at $147, with the swapping of 76 units, NCB Financial Group advanced $4 to $146 in exchanging 13,064 stocks. Palace Amusement spiked $150 to $1,300 with the swapping of 36 stock units, Pan Jam Investment rose $1.40 to $69 in trading 2,065 units, Proven Investments lost 22 cents to $34.10 in crossing the market with 33,999 stocks. Sagicor Group shed $1 to settle at $55 in exchanging 457,729 shares, Salada Foods rallied 37 cents in closing at $8.62 in trading 47,287 stock units. Scotia Group shed 82 cents to $40.18 after exchanging 25,980 stocks, Supreme Ventures spiked 95 cents to $19 after crossing the market with 12,971 units and Wisynco Group shed 25 cents to close at $15.50 in exchanging 41,535 stock units.
In the preference segment, Eppley 8.75% preference share rose 22 cents to $7.50 in trading 2,500 stocks, Eppley 8.25% rallied $1.04 to $7.10 with 470 units changing hands and Productive Business Solutions 9.75% preference share declined $25 to $80 in transferring 2,000 shares.

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

Major stocks rebound

Stocks settled on a robust recovery at the end of trading on Thursday and, in the process, wiped out all the losses of the past two days with moderately more stocks declining than rising after the volume of shares and the value traded fell 22 percent and 29 percent respectively compared to Wednesday on the Jamaica Stock Exchange Main Market.
At the close of trading, the All Jamaican Composite Index spiked 4,025.26 points to 464,689.48, the JSE Main Index sprung 3,462.72 points higher to 426,697.54 and the JSE Financial Index rose 1.87 points to 105.80.
Trading ended with 50 securities compared to 51 on Wednesday, with 19 stocks rising, 23 declining and eight remaining unchanged. The PE Ratio, a measure that determines an appropriate relative value of each stock, averages 16.9 based on ICInsider.com’s forecast of 2021-22 earnings.
The market closed with 8,889,308 shares trading for $224,811,511 versus 11,432,806 units at $317,069,162 on Wednesday. Wigton Windfarm led trading with 13.6 percent of total volume for an exchange of 1.21 million shares, followed by Transjamaican Highway with 10.1 percent for 894,159 units and Grace Kennedy with 9.3 percent after trading 833,408 units.
Trading averaged 177,786 units at $4,496,230, compared to 224,173 shares at $6,217,042 on Wednesday. Trading month to date averages 151,484 units at $2,820,155, in contrast to 146,203 units at $2,483,594 on Wednesday. June ended with an average of 249,610 units at $3,877,606.
Investor’s Choice bid-offer indicator reading has 13 stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments surged $3.09 to $85 after trading 50,941 stocks as investors responded positively to the news that the directors will be to consider increasing the company’s capital, Berger Paints rallied 96 cents to close at $14.85 after exchanging 100 units, Caribbean Cement fell $1.05 to $93.75 in transferring 8,307 units. First Rock Capital lost 21 cents to close at $15.60 with 16,948 stocks changing hands, Grace Kennedy rallied $2 to $104 in switching ownership of 833,408 shares, Guardian Holdings dropped $19.99 to $670 with the swapping of 3,832 stock units. Jamaica Broilers gained 43 cents to end at $35.98 with an exchange of 27 units, Jamaica Producers shed 95 cents in ending at $22.05, with 17,393 stocks clearing the market. Kingston Properties fell $1.10 to $8.40 in swapping of 19,760 units, Margaritaville rose $1 to $15.10 after exchanging 814 units, Mayberry Investments added 34 cents in closing at $6.19 with the transfer of 759,331 shares, Mayberry Jamaican Equities shed 75 cents to $9 in switching ownership of 25,606 stock units. NCB Financial advanced $1 to $142 after exchanging 176,301 stocks, Palace Amusement dived $200 to end at $1,150 with the swapping of 100 units, Pan Jam Investment lost 40 cents in ending at $67.60 after trading 21,361 stocks. Proven Investments slipped 78 cents to $34.32 with 1,024 shares changing hands, Sagicor Group rallied $4 to $56 with 278,687 stock units crossing the market, Salada Foods picked up 25 cents to settle at $8.25 with the swapping of 56,192 stock units and Supreme Ventures shed 96 cents to close at $18.05, with 237,056 shares clearing the market.
In the preference segment, Eppley 8.25% fell $1.04 to $6.06 exchanging 623 units and JMMB Group 7.35% – 2028 rose 15 cents to a record $3.45 with a transfer of 51,094 stocks.

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

Losses for JSE Main Market

Market activity ended on Wednesday with the market declining, with the volume of shares exchanged rising 75 percent with the value climbing 504 percent higher than on Tuesday at the close of the Jamaica Stock Exchange Main Market.
The All Jamaican Composite Index dropped 2,454.90 points to 460,664.22, the JSE Main Index shed 674.44 points to end at 423,234.82 and the JSE Financial Index dipped 0.36 points to 103.93.
Trading ended with 51 securities similar to Tuesday, with 16 stocks rising, 19 declining and 16 remaining unchanged. The PE Ratio, a measure that determines an appropriate relative value of each stock, averages 17.1 based on ICInsider.com forecast of 2021-22 earnings.
A total of 11,432,806 shares traded for $317,069,162 versus 6,642,522 units at $52,483,080 on Tuesday. Eppley Caribbean Property Fund led trading with 44.5 percent of total volume for 5.09 million shares, followed by Transjamaican Highway 12.7 percent, with 1.45 million units and Wigton Windfarm 11.7 percent, with 1.34 million units.
Trading averaged 224,173 units at $6,217,042, compared to 130,246 shares at $1,029,080 on Tuesday. Trading month to date averages 146,203 units at $2,483,594, in contrast to 126,120 units at $1,521,948 on Tuesday. June ended with an average of 249,610 units at $3,877,606.
Investor’s Choice bid-offer indicator reading has 12 stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Caribbean Cement popped $1.80 to $94.80 after exchanging 43,185 stock units, Eppley dropped $4.04 to $39.86 in transferring 958 units. Eppley Caribbean Property Fund spiked $9.46 to $50 with the swapping of 5,093,289 shares, First Rock Capital rallied 26 cents to $15.81 in an exchange of 9,021 units, Grace Kennedy fell $1.99 to $102 in switching ownership of 34,826 stock units. Guardian Holdings surged $39.99 to $689.99 with 6,272 units changing hands, Jamaica Broilers declined $1.15 to $35.55 with the swapping of 7,584 units, Jamaica Producers slipped $1 to end at $23 after 11,621 stocks crossed the market. Jamaica Stock Exchange rallied 38 cents to $17.50 in trading 530 units, JMMB Group lost 44 cents in ending at $37.56 with a transfer of 43,241 stocks, Kingston Properties rose $1.10 to $9.50 in an exchange of 738 units. Margaritaville shed $1.20 to $14.10, with 2,457 stock units clearing the market, Mayberry Investments lost 25 cents in closing at $5.85 in exchanging 1,000 shares. Mayberry Jamaican Equities rose 76 cents to settle at $9.75 in switching ownership of 500 stocks, NCB Financial fell 50 cents to $141 with 42,327 shares changing hands, Palace Amusement dived $75 to $1,350 in trading 29 units. PanJam Investment climbed 40 cents to $68 after exchanging 11,951 stock units, Sagicor Group dived $4.50 to $52 in trading 183,871 shares, Salada Foods lost 30 cents to close at $8 with 69,919 shares crossing the exchange, Scotia Group popped 90 cents to $40.90 in transferring 134,985 stocks and Supreme Ventures shed 39 cents in ending at $19.01 with the swapping of 852,216 shares.
In the preference segment, JMMB Group 7.25% shed 24 cents in closing at $1.26 with 4,941 units changing hands.

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

Slippage for JSE majors on Tuesday

Advancing and declining stocks were almost evenly balanced at the end of market activity on Tuesday, but with rising stocks having the edge after the volume of shares traded and the value fell 14 percent and 26 percent respectively compared to Monday on the Jamaica Stock Exchange Main Market on a day of low volume that attracted relatively small sum.
At the close, the All Jamaican Composite Index declined 1,326.49 points to 463,119.12, the JSE Main Index dropped 3,307.14 points to 423,909.26 and the JSE Financial Index lost 0.84 points to 104.29.
Trading ended with 51 stocks, up from 46 on Monday, with 22 rising, 20 declining and nine remaining unchanged. The PE Ratio, a measure that determines an appropriate relative value of each stock, averages 16.6 based on ICInsider.com’s forecast of 2021-22 earnings.
The market closed with 6,642,522 shares trading for $52,483,080, down from 7,760,356 units at $70,527,298 on Monday. QWI Investments led trading with 29.1 percent of total volume for an exchange of 1.93 million shares followed by Transjamaican Highway with 19.7 percent for 1.31 million units and Wigton Windfarm 13.4 percent with 891,752 units changing hands.
Trading averaged 130,246 units at $1,029,080, compared to 168,703 shares at $1,533,202 on Monday. Trading month to date averages 126,120 units at $1,521,948, in contrast to 124,689 units at $1,692,944 on Monday. June ended with an average of 249,610 units at $3,877,606.
Investor’s Choice bid-offer indicator reading has thirteen stocks ending with bids higher than their last selling prices and eight with lower offers.
At the close, Eppley shed $1.10 to close at $43.90 in exchanging 7,577 shares. Eppley Caribbean Property Fund sank $4.46 to $40.54 with a transfer of 572 units, Grace Kennedy spiked 99 cents to $103.99 in trading 77,467 stock units. Guardian Holdings dropped $5 to $650, with 5,882 units changing hands, Jamaica Producers shed 60 cents in ending at $24 after 18,720 stock units crossed the market with. JMMB Group popped 44 cents to close at $38 in switching ownership of 130,050 shares, Kingston Properties lost 30 cents to close at $8.40 in trading 32,665 stocks, Kingston Wharves fell 30 cents to $47.70 with the swapping of 4,837 stocks, Margaritaville spiked $1.30 to $15.30 with an exchange of 33,171 shares. NCB Financial rallied $2.49 to $141.50 in transferring 58,770 stocks, 138 Student Living added 25 cents to end at $5.15 with 8,411 stock units crossing the market, Palace Amusement jumped $75 to close at $1,425 in an exchange of 201 units. Sagicor Group rose 49 cents to $56.50 in switching ownership of 140,317 stock units. Scotia Group shed 50 cents to end at $40, with 8,550 units changing hands, Seprod picked up 50 cents in ending at $72, with 46,730 shares clearing the market and Supreme Ventures gained 30 cents to close at $19.40 with the swapping of 12,519 stock units.
In the preference segment, JMMB Group 7.15% – 2028 share lost 15 cents in ending at $3.35 with an exchange of 16 units and Productive Business Solutions 9.75% preference share spiked $4.89 to $105 after investors cleared the market of 93 stock units.
In the Corporate Bond market COLOSSAL 4.25% FR2022 traded 300,000 units at $100.72409 with a gain of 72 cents.

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