Your Guide To Caribbean Financial Markets
What an exciting time for investing. Within the space of a week we have seen 3 companies coming to the market to raise funds with their initial public offerings – Productive Business Solutions, Stationery & Office Supplies & Express Catering. What do you think? Are you going to invest? Continue reading
Oil prices hit rock-bottom this week, well the lowest in 9 months. We’re now in what they call a ‘bear market’ for oil as prices have fallen more than 20%. This is mainly being impacted by over supply in the oil market. Also, did we say there are more IPOs ahead? The Productive Business Solutions (PBS) IPO should be coming this week and 2 others are in the works. Continue reading
After months of speculation, which drove significant interest in the stock, more than tripling the stock price, the news came on Friday that a controlling stake in Berger Paints Jamaica, Trinidad and a full takeover of Barbados is being executed by Trinidadian company Ansa McAl Group. This week we also got news of Scotia’s decision to take Scotia Investments private and what do you think about NWC selling bottled water? Continue reading
Deciding what and when to buy and sell can sometimes become a long drawn-out emotional process. Thankfully with some guidance this process should be a lot easier. This week we have a few recommended stock picks. Also this week, Morant Bay to get new town centre at the old Goodyear factory, Main event results down and new listings soon. Continue reading
As the summer draws closer (with its heat, and possibly a busy hurricane season), the stock market is also heating up. More listings are on the way, and this week Cable Bahamas listed its preference shares and became the first Bahamian company to list on the JSE. And interestingly, Damian Marley along with a group of investors acquired the ‘High Times’ Magazine brand. Continue reading
This week I realized, that if I held my ISP Finance shares, bought in the IPO, the J$50k I invested almost a year ago would have now been worth… drumroll… over J$850k today! That’s mind blowing – to see that growth in a year. But that’s just the start, they’re quite a few companies that have also seen phenomenal growth since the start of this year and this week I’m going to highlight the top 5. Also, executive changes at JBG, more company results, and unemployment down in Trinidad & Tobago Continue reading
As expected quite a few companies released results this week. Some impressive, others as expected along with a few disappointments. The market did respond to the news and we saw the movement in stock prices. There were 7 stocks hitting new highs, and some that fell. In other news Digicel was able to refinance its debt, Sandals is exploring its options, NCB is raising more money to finance its growth and much more. Continue reading
Big week ahead, with quite a few companies expected to report results and of course the market will respond. We had major moves in some stocks this week while not much in others. We also heard of plans for Starbucks to come to Montego Bay Jamaica (and other locations soon), Digicel and TSTT making acquisitions, Palmyra to finally reopen and much more. Continue reading
There was a jump in Junior Market volumes traded in April, making it a record month for the Junior Market. In fact Junior Market volumes almost topped the main market. On the other hand, the main market saw a steep decline (-26.6%) in the number of trades, value traded (-49.9%) and volumes. This week we also heard of proposed plans from the USA to impose a tax on remittances, Trinidad and Tobago being downgraded by rating agencies and much more. Continue reading
The first quarter of 2017 is now behind us. Yes, the first 3 months of 2017 are history, with 9 more months to go. The stock market ended the 3rd month of 2017 down 3.08%, however this was the busiest month yet (for 2017) and the busiest in recent months. This week, the government also felt the wrath of the citizens and decided to review its property tax rates, internationally the UK Govt triggered article 50 to leave the EU, Guyana makes its third oil find and much more. Continue reading
The Jamaican stock market declined by another 2.1% this week or 4.8% since the start of this month. At this rate of decline… well, let’s not worry too much :). That may NOT be good news for some investors, but there are bigger problems overseas. The Jamaican government has banned all corned beef from Brazil this week, due to trouble in that country. Trump’s health care bill collapsed and almost all the banks have bowed to public pressure to suspended dormancy fees. More inside. Continue reading
The stock market closed down for a 2nd straight week. It declined by 1.2% this week after closing down 2.5% last week. Also this week, we got the news that Richard Byles of Sagicor will be retiring and the surprise that his replacement will be an outsider with little known insurance experience, albeit well educated with other business experience. There was also news of a new investment company, the US Fed raising interest rates, company year-end results and much more. Continue reading
Read my lips – No New Taxes… or so we’ve heard before. But we know that’s never the case – there’s always a subtle strategy to get people to pay. Other times it’s there in plain sight. In this case it’s obvious, the government has a gap to fill (let’s call it 1.5) and they have to find ways to do it. As some have said, this is not a growth oriented budget. In other news more results (Scotia, TCL, Sterling), regulators restrict US IPOs and Depository receipts, S&P downgrades Barbados, BMW sales slowdown and Snap shares slide. Continue reading
Profit or Pics – What Do Investors Want? This week over 20 Jamaican companies released their year end financials. Most were profitable and continue to show signs of steady growth. This is of course in stark contrast to the loss making Snap Inc (Snapchat), that debuted on the New York Stock Exchange this week. It’s amazing, isn’t it – A company built on disappearing messages and dog-ear pics, that has made a loss every single year since it began commercial operation – being so valuable and having such a huge IPO. In other news Petrojam gets Chinese investment, Mc’Donalds releases new strategy, and Venezuela down to its last US$10b. Continue reading
The market inched up by 0.24% this week. Not as aggressive as it did during early February and January, but still an increase compared to last week’s fall off. There were also new analyst ratings this week as JMMB put a Buy/Overweight rating on JBG, a Hold on DTL and SVL, and a SELL on JP. Other picks from Mayberry’s Investor Meeting inside. Economically, Jamaica is doing well. And the central bank is taking it further by making US$ saving and borrowing less attractive. Much more details inside. Continue reading
For the first time since the start of this year, the market has declined for 4 out of 5 consecutive trading days. It had some investors worried and other short term opportunists, riding the wave, were a little concerned as well. In fact, the biggest fall of the week, came on Feb 13th, the day before Valentines – definitely not a good time for any breakup news. In other news 84 public entities are to be merged, PROVEN’s profit jumps and VM’s big buy. Continue reading
Earnings – The one objective standard of a company’s ranking at the top of the gains table. Quite a few results came out this week. Some good, others not so impressive. Lasco Financial had good numbers both compared to last year and the prior quarter quarter, Salada Foods was OK, but not so impressive was Lasco Manufacturing and Distributors. With over $100m spent on marketing and product launches I was not expecting a decline in sales, No sir-ree. In other news the Government says it will be divesting its JPS shares and the Airport, and look out for a new budget (and more taxes) ahead. Continue reading
You know the saying, ‘A rising tide… floats all boats’. And that seems to be what we experienced on the Jamaican stock market this week, based on the dizzying rate at which some of the stocks have been growing. This week 22 stocks hit new highs (yes, 22 in this week alone)! Majority hit a new high at least TWICE during this week (meaning the same stock hit a new high and then went higher). And this was just in 5, and we’re only 5 weeks into 2017! In other news, Tax collection is ahead of budget and a new tax package is on its way. JN Bank is now live and social media company Snap Inc (owner of Snapchat) is preparing to go public (although on very controversial terms). Continue reading
The stock market made a big jump this week, it’s biggest leap since 2017! 10 stocks made gains of more than 10% this week with 4 outstanding stocks jumping by between 30% and as much as 61% in just this week alone! That, coupled with the fact that investors seeking to get in on the Main Event IPO overwhelmed the offer, plus the phenomenal quarterly results from some companies, are good signals for the times ahead. Continue reading
45 years!! That’s how long we haven’t seen inflation this low in Jamaica. This was one piece of good news reported this week. Added to that, business and consumer confidence were reported to be at record high levels as people feel very optimistic about the economy and doing business. The government is making plans to move ahead (and ‘save’)on the south coast highway, and Main Event has released their prospectus with tomorrow Monday being the very last day to sign up. It is already said (and expected) to be oversubscribed. Continue reading
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