Trading on the Trinidad Stock Exchange ended on Wednesday with 9 securities comprising 62,645 units, with a value of $2,293,590 changing hands. A total of 1 security advanced, 4 declined and 4 traded with prices unchanged.
At the close of the market, the Composite Index fell 0.61 points to close at 1,150.32, the All T&T Indexdeclined by 1.19 points to 1,963.93 and the Cross Listed Index remained unchanged at 44.15.
Gains| just one stocks increased in price at the close as, First Citizens Bank trading 905 shares at $35.16 after adding a cent.
Declines| Clico Investment Fund fell 9 cents to end at $22.51 with 9,000 shares trading with a value of $202,604. Guardian Holdings with 10,287 shares changing hands for a value of $144,532 ended 15 cents lower at $14.05, Republic Bank with 15,630 shares changing hands valued at $1,809,966, fell 4 cents to end at $115.80, for a new 52 weeks’ low and Trinidad Cement traded 8,821 shares and ended with a loss of 5 cents at $2.50.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, JMMB Group with a volume of 14,321 shares trading at 43 cents, National Enterprises traded 1,175 shares to close at $17.30, National Flour Mills with 6 shares closed at $1.50 and One Caribbean Media traded 2,500 shares at $22.30.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 3 stocks with the bid higher than their last selling prices and 3 stocks with offers that were lower.
Archives for April 2015
1 stock gained 4 fell on TTSE
Treasury bill rates slide continue
Government of Jamaica Treasury bill rates, declined in the latest auction of the short-term debt instruments, opened today at the Bank of Jamaica offices. The 182 days instrument closed at its lowest level since May 2013 when it then cleared at 6.44 percent.
At today’s auction the average rate came in at 6.787 percent, down from 6.998 percent in March and the 91 days ended at 6.06 percent, a decline that is well down on the previous rate of 6.72765 percent. 
The declines come against the background of consistently falling rates since the start of the second quarter last year, negative inflation and a cut this month in Bank of Jamaica’s CD rate, from 5.75 percent to 5.50 percent.
The implications of the fall include potential for lower lending rates down the road, stimulation of interest sensitive investments such as stocks and long term bonds and of course persons looking for income from fixed interest securities will be getting less income going forward than in the recent past.
JSE to repeat today’s gains on Thursday
NCB closed at a new 52 weeks’ high on of $26.50 on Wednesday
The Investors Choice bid-offer Indicator shows 11 stocks with bids higher than their last selling prices and 2 with offers that were lower, in the main and junior markets. IC Indicator reading is suggesting that the number of trades on Thursday should see another day of many more stocks rising than falling.
Activity on the Jamaica Stock Exchange, resulted in 23 securities changing hands and ending with 4,735,155 units trading, valued at $24,434,254, in all market segments. National Commercial Bank, closed at a new 52 weeks’ high of $26.50 with 301,200 shares changing hands at 50 cents higher than on Tuesday and ahead of the company reporting six months results and dividend payment on Thursday.
Main Market| The JSE Market Index gained 474.33 points to 86,299.76, the JSE All Jamaican Composite index rose 530.32 points to close at 95,205.43 and the JSE combined index gained 446.19 points to close at 87,994.37.Cable & Wireless with 256,932 units traded at 52 cents and ended with the bid at 53 cents to buy 100,000 shares. Ciboney Group traded 2,000,000 shares at 6, Desnoes & Geddes gained 10 cents and traded 29,400 at $6 with an offer at $6.50 at the close. Grace Kennedy with 19,224 shares that traded closed at 90 cents higher at $63, Jamaica Broilers had 86,530 shares trading to close at $4.70,
JMMB Group traded 855,593 ordinary shares for 38 cents higher at $7.48. The stock had JMMB Securities on the offer selling 268,800 units at $7.48, 5000 units at $7.50 and 34,655 shares at $8.50 as the lowest offers posted at the end of trading.The broker posted small buy orders from $7.03 to $7.10. Victoria Mutual Wealth Management sold the bulk of the shares to trade with Sagiocr Investments being the major buyer of them.
Radio Jamaica traded 13,372 shares at $2 to gain 25 cents, Sagicor Group traded 66,350 shares
to close at $10.55 while gaining 10 cents in the process but traded as high as $10.75 before the close. Sagicor Real Estate X Fund had 529,519 units changing hands to close at $6.50, after shedding 25 cents. Salada Foods traded 35,480 at $9, Scotia Group saw 118,289 units, closing at $22, Supreme Ventures 19,900 units traded 4 cents higher at $2.84 and Jamaica Money Market Brokers 8.75% preference share, traded 317,331 units at $3.20 with an increase of 10 cents.
Juniors record no price change
Activity on the Junior Market closed with 5 securities trading and ending with just 67,673 units changing hands valued at a mere $109,559. The JSE Junior Market Index remained unchanged at 732.52, with no prices changing at the close.
At the close of the market, there were 4 stocks with bids higher than their last selling prices and 1 with a lower offer. The junior market ended with 4 securities closing with no bids to buy and 10 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, AMG Packaging had 10,000 shares trading at $2.26, Blue Power closed at $7.51 with 3,400 shares changing hands, Consolidated Bakeries traded 990 shares at 82 cents, Lasco Distributors 10,000 shares traded between $1.43 and Lasco Manufacturing traded 43,283 shares and closed at $1.07.
Sagicor messes up interest charge?
Sagicor Bank suffered a computer glitch in February, leading to statements for a number of some customers having no interest reflected on them, on balances on which interest was due.
There are no indications that the bank advised their clients about the error, and when it would have been corrected. in March the bank adjusted for the error but made customers no wiser. not only did they correct for the omission for February they compounded it by included the charge with that of March, without any indication for the larger than usual interest charge on the statement.
Interest on US dollar credit cards are 18 percent per annum, or 1.5 percent per month, the March statements show that they in fact charged around 3 percent. Based on the amount outstanding on a specific card the interest rate of 1.5 percent should have resulted in a charge of roughly $52, instead the bank charged $97.46 or what appears on the surface of overcharging of $45.
IC Insider spoke with a Mr. Erwin Lyons a supervisor at the bank who indicated that there was a computer glitch which was not resolved before the February statements, flowing from that the March statements now show the charges for February and March as one sum. Lyons indicates, that the problem affected both local and US dollar based cards. Lyons could not say why no notification was sent to customers about the matter nor why the amounts were not shown separately on the statement, but he did indicate that customers should have been advised about it.
Moderate trading on Wednesday so far
Trading on the Jamaica Stock Exchange on Wednesday morning resulted in a few noticeable trades, 
as the market with 3.55 million units trading, coming form 9 securities but with none from the junior market.
The all Jamaica composite index rose just over 100 points and the Jamaica Stock Exchange index gained just under 100 points. Some of the stocks to trade are Ciboney Group with 2 million shares at 6 cents, JMMB Group with 795,353 at 7.10, Radio Jamaica with 13,372 at $2 with a 25 cents gain, Sagicor Group with 19,850 units at $10.75 as the price rose by 25 cents and Sagicor Real Estate X Fund 465,229 units at $6.55.
J$ slips against US$ on Tuesday
Purchases of all currencies by dealers amounted to US$26,567,245 equivalent, compared with US$46,335,229, on Monday and selling of the equivalent of US$33,810,517 versus sale of US$39,799,245, previously.
In US dollar trading, dealers bought US$22,316,665 compared to US$39,685,198 on Monday. The buying rate for the US dollar rose 4 cents to $114.61 and US$31,312,786 was sold versus US$36,190,849 on Monday, the selling rate rose 4 cents to end at $115.19. The Canadian dollar buying rate increased 94 cents to $92.47 with dealers buying C$1,587,253 and selling C$534,806, at an average rate that fell 65 cents to $93.45.
The rate for buying the British Pound rose $1.11 to $169.91 for the purchase of £1,713,967, while £1,043,075 was sold, at an average rate that fell 37 cents to $171.39. At the end of trading it took J$123.84 to purchase the Euro, 70 cents less than on Monday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$121.37 for a fall of 33 cents from Monday’s rate. Other currencies bought, amounted to the equivalent of US$428,862, while the equivalent of US$511,828, was sold.
Highs & Lows| The highest buying rate for the US dollar, fell 42 cents to $115.38. The lowest buying rate declined by 17 cents to $93.77, the highest selling rate eased 21 cents to $120.16 and the lowest selling rate dived $18.73 to $93.77. 
The highest buying rate for the Canadian dollar recovered $2.80 to $94. The lowest buying rate jumped $3.08 to $74.29, the highest selling rate gained 85 cents to $95.95 with the lowest selling rate rising $2.70 to $88.50. The highest buying rate for the British Pound,jumped $3.50 to $173.50, the lowest buying rate rose $2.19 to $137.07, but the highest selling rate fell $1.85 to $174.01 with the lowest selling rate climbing $2.65 to $165.15.
JSE gives back much of Monday’s gains
Activity on the Jamaica Stock Exchange, resulted in the main market indices falling back sharply to erase a large portion of Monday’s gains as Scotia Group remained at the $22 level. 
At the close the prices of 7 stocks rising, 7 declining as 26 securities changed hands, ending in 4,715,400 units trading, valued at $63,481,771, in all market segments.
Main Market| The JSE Market Index lost 1,526.09 points to 85,825.43, the JSE All Jamaican Composite index fell 1,706.24 points to close at 94,675.11 and the JSE combined index dropped by 1,524.04 points to close at 87,548.18.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 7 stocks with bids higher than their last selling prices and only 2 with offers that were lower.
Caribbean Cement closed with 486,513 units trading at $2.25, Gleaner Company traded 220,242 shares to end at 85 cents after trading as high as 87 cents,
Kingston Properties had 64,130 shares trading to end at $7, Sagicor Group traded 43,053 shares between $10.50 and $10.60 to end at $10.50. National Commercial Bank traded at a new intraday 52 weeks’ high of $26.70 and ended with 2,171,735, units at $26. Broker GK Capital Management crossed 2 million units at $25.85. Scotia Group traded 94,930 shares to end at $22.02 for a decline of but was up as high as $23.5 and Jamaica Money Market Brokers 8.75% preference share traded 82,669 units at $3.10.
Junior market trading picks up
Activity on the Junior Market closed with 9 securities trading and ending with units changing hands valued at $1,843,466. The JSE Junior Market Index declined 9.51 points to close at 732.52, with the price of 3 stocks advancing and 4 declining.
At the close of the market, there was only 1 stock with the bid higher than the last selling prices and 1 with a lower offer. The junior market ended with 4 securities closing with no bids to buy and 10 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, Caribbean Producers had 100,000 shares trading at $2.32 with a gain of 1 cent, General Accident Insurance closed at $1.82 with 1,765 shares changing hands, Honey Bun gained 2 cents in trading 28,300 shares to end at $1.82. Consolidated Bakeries traded 37,388 shares at 82 cents, Lasco Distributors 525,321 shares traded between $1.43 and $1.46 to close at $1.43.
Access Financial traded 800 units and lost 1 cent to end at $13.20, Caribbean Cream had 79,230 units changing hands between 65 cents and 75 cents and ended 10 cents lower at 65 cents. Lasco Financial Services 631,000 units traded at the close at $1.08 after losing 7 cents but traded as high as $1.10. Lasco Manufacturing traded 26,717 shares between $1.07 and $1.10 and closed at $1.07 with a loss of 6 cents.
4 stocks gained 1 fell on TTSE
Trading on the Trinidad Stock Exchange ended on Tuesday with 9 securities comprising 301,289 units, with a value of $4,183,025 changing hands. A total of 4 securities advanced, 1 declined and 4 traded with prices unchanged.
At the close of the market, the Composite Index rose 0.43 points to close at 1,150.93, the All T&T Index rose 0.49 points to 1,965.12and the Cross Listed Index increased by 0.05 points to end at 44.15.
Gains| Stocks increasing in price at the close are, Clico Investment Fund that gained 6 cents to end at $22.56 with 7,690 shares trading, valued at $173,506, Grace Kennedy with 59,325 shares trading for $213,571, ended at $3.60 for a gain of 5 percent. Guardian Holdings with 223,700 shares changing hands for a value of $3,176,540 ended 6 cents higher at $14.20 and Trinidad Cement traded just 50 shares with a gain of 5 cents to $2.55.
Declines| Republic Bank was the sole stock declining, falling 4 cents to end at $115.84, for a new 52 weeks’ low.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, First Citizens Bank added 1,474 shares at $35.15. Massy Holdings contributed 7,900 shares with a value of $498,490, National Enterprises traded 600 shares to close at $17.30, while National Flour Mills with 50 shares closed at $1.50.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 3 stocks with the bid higher than their last selling prices and 4 stocks with offers that were lower.
