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Big boost for Access from new Acquisition

In its quest for continued growth by acquisition Junior Market listed Access Financial Services announces yet another prospective acquisition.
The micro lender has indicated that it has reached an agreement to acquire a Florida based consumer finance company. The release by the company states that the successful completion of the acquisition expected to be completed in 90 days, is subject to satisfaction of all conditions of the purchase agreement and applicable legal and regulatory approvals.
Usually reliable source indicates that this acquisition when concluded will swell Access assets by US$8 or J$1 billion and will increase Access size by 25 percent. Estimated revenues should be approximately US$4 million per annum at the present level of business. The business is based on lending, for up three months with loans usually under US$1,000. The loans are collateralized by motor vehicles titles. The entire loan process is done on line thus requiring limited staffing. According to a report online, “today in Florida, we have car title loan clients achieving 90 percent to 140 percent per annum on their loan portfolios.”

Access Financial

This acquisition when completed will bring to 5, the number of entities Access acquired since 2015. In 2017, the loan portfolio, fixed assets and trade name of Micro Credit Limited. In 2016, Access purchased the business of Damark Limited comprising mainly the loan portfolio, fixed assets, trademark for $180 million. In 2015, Access acquired the loan portfolios of Asset Management Company, formerly operated by Scotia Investments.
Access recorded net profit after tax of $217 million from revenues of $457 million for the quarter ended June this year up 16 percent over net profit of $188 million for the corresponding period in 2017. Total assets at June, amounted to $3.86 billion.
The company’s stock is listed on the Junior Market of the Jamaica Stock Exchange and last traded at $45.50.

Junior Market down 5% in 4 days

 

The Junior Market Index declined again on Friday, dropping 41.51 and bringing the losses since Tuesday to 171.12 points or 5 percent as the market closed the week at 3,241.74. IC bid-offer Indicator suggest that the market could bounce big on Monday.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading jumped sharply to 13 stocks ending with bids higher than their last selling prices, while 4 closed with lower offers.
The market closed with 26 securities changing hands as 9 advanced, 9 declined and 8 remained unchanged, compared to Thursday with the trading of 29 securities. Investors swapped 1,069,876 units valued at $5,375,641, compared to 1,535,498 units valued at $7,110,385.
Trading ended with an average of 41,149 units for an average of $206,755 in contrast to 66,761 units for an average of $309,147 on Thursday. The average volume and value for the month to date amounts to 83,015 units valued at $339,541 and 76,083 units valued at $349,211, previously. September, ended with an average of 484,335 at $2,628,299 for each security traded.
At the close of trading, Access Financial closed at $45.50, after exchanging 126 shares, Blue Power concluded trading 30 cents higher at $6.30, with 3,000 units, CAC 2000 finished at $18, with 5,278 shares trading, Caribbean Cream dropped $1.95 and ended trading 12,577 shares to close at $4.80, Caribbean Flavours traded with a loss of 1.50 cents at $17, with 10,000 stock units. Caribbean Producers finished trading 13,101 units with a loss of 14 cents at $6.75, Derrimon Trading ended 2 cents higher at $2.82, after exchanging 99,114 shares, Elite Diagnostic finished 10 cents higher at $3.50, with 21,229 stock units changing hands, Everything Fresh gained 10 cents in trading 7,903 shares to close at $2, Express Catering ended trading with a loss of 30 cents at $8, in exchanging 324,956 shares. FosRich Group traded 10,694 shares and rose 20 cents higher to $3.90, General Accident finished trading 1,400 shares at $3.95, GWest Corporation closed at $1.80, with an exchange of 26,475 stock units, Honey Bun ended at $4, with 19,254 units changing hands. Indies Pharma rose 30 cents to end at $3 with 86,875 shares changing hands. Jamaican Teas settled with a loss of 20 cents at $4, with 21,360 shares trading, Jetcon Corporation ended trading 131,851 stock units with a loss of 5 cents to end at $3.45, Knutsford Express closed 50 cents higher at $12, with 3,428 shares changing hands, Lasco Distributors ended 6 cents higher at $4.06, after exchanging 20,209 shares. Lasco Financial concluded trading 14,722 stock units to close at $5.30, Lasco Manufacturing finished with a loss of 30 cents to close at a 52 weeks’ low of $3, trading 226,840 units, Medical Disposables ended trading 1,000 shares with a loss of 29 cents at $7.20, Paramount Trading closed market activity with 1,084 shares trading to end 5 cents higher at $2.20. SSL Venture Capital traded 2,000 shares at $2, Stationery and Office finished trading 500 stock units with a loss of 40 cents to close at $9.50 and tTech ended at $5, with 4,800 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Fluid price movements on TTSE on Friday

Stocks mostly rose in trading on the Trinidad & Tobago Stock Exchange on Friday, with the price of 6 security rising, 4 declining and 8 remaining unchanged.
The market ended trading of 276,756 shares at a value of $7,002,384 compared to 143,335 shares at a value of $2,574,472 changing hands on Thursday and ended with 18 securities changing hands, similar to the number trading on Thursday.
Trading closed, with the Composite Index declining 1.51 points to 1,233.15, the All T&T Index rose 1.10 points to 1,700.08, while the Cross Listed Index declined 0.57 points to close at 103.06.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading closed with 5 stocks ending with higher bids than the last selling prices and 3 with lower offers. The market closed with a number of stocks exhibiting a posture for moving higher in the days ahead, the group are, Agostini’s, Ansa McAl, Republic Holdings, Point Lisas, Trinidad and Tobago NGL and West Indian Tobacco with a 3 for 1 stock split to come to make the stock more attractive for investors to trade.

Watch Witco stock in coming days

Stocks closing with gains| Clico Investments gained 35 cents and ended at $20.35, with 525 stock units changing hands, Guardian Holdings added 2 cents and completed trading of 500 units at $16.92, National Enterprises increased 4 cents and ended at $9.01, with 770 stock units changing hands, Republic Financial Holdings rose 5 cents and ended trading at $106, after exchanging 48,007 shares, Scotiabank closed with a gain of 5 cents in trading 3,700 units at $64.85 and Trinidad & Tobago NGL gained 10 cents and settled at $29.50, exchanging 1,000 shares.
Stocks closing with losses| First Caribbean International Bank traded with a loss of 10 cents at $8.40, trading 7,500 units, First Citizens fell 7 cents and settled at $32.68, after exchanging 4,135 shares, Prestige Holdings closed with a loss of 4 cents and completed trading 2,663 units at a 52 weeks’ low of $7.50 and Sagicor Financial shed 14 cents and ended at $7.55 with 70,472 stock units changing hands.
Stocks trading with no price change| Angostura Holdings ended at $15.75, with 500 stock units changing hands, Ansa Merchant settled at $38.25, after exchanging 3,000 shares, Calypso Macro Index Fund traded 800 shares to close at $15.81, JMMB Group ended at $1.63, after exchanging 7,500 shares, National Flour completed trading at $1.70, with 15,928 units changing hands, NCB Financial Group settled at $6.15, after exchanging 108,531 shares, Trinidad Cement concluded at $2.70, in exchanging 962 shares and West Indian Tobacco completed trading of 263 units at $90.
Prices of securities trading for the day are those at which the last trade took place.

Worse fall in JSE history – Thursday

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The Jamaica Stock Exchange main market had the largest fall ever as Scotia Group fell $3.01 and NCB Financial dived $17.40, as 15 stocks declined, 10 rose and 10 held firm and making big dents into the market indices on Thursday.
At the close, the All Jamaica Composite Index diving 12,616.74 points to close at 397,188.61 and the JSE Index declined by 11,495.27 points to close at 361,883.79.
IC bid-offer Indicator| At the end of trading, the Choice bid-offer indicator reading shows 6 stocks ending with bids higher than the last selling prices and 6 closing with lower offers.
A total of 35 securities traded including 5 in the US dollar market, compared to 32 trading on Wednesday.
Trading ended with 5,646,169 units valued at $146,430,983 changing hands, compared with 3,255,602 units valued at $64,853,916 on Wednesday.
Trading closed with Carreras leading with 1,796,079 units and 31.8 percent of the day’s volume, followed by Victoria Mutual Investments with 631,604 units and 11.2 percent of volume traded and Caribbean cement trading 621,915 units or 11 percent of the day’s volume.
Trading resulted in an average of 188,206 units valued at over $4,881,033, in contrast to 101,738 shares valued at $2,026,685 on Wednesday. The average volume and value for the month to date amounts to 345,251 shares, valued $6,238,100 and previously, 357,984 shares, valued $6,357,141. September closed, with an average of 1,022,243 shares valued $15,752,876, for each security traded.
In the main market activity, Barita Investments climbed $1 to close at a record high of $21, with 6,500 shares trading, Caribbean Cement lost $1.23 in trading 621,915 units to close at $48.72, Grace Kennedy lost 75 cents and ended trading 4,193 shares at $58.55, Jamaica Broilers lost 50 cents to close at $31.50, with 30,918 stock units changing hands, Kingston Wharves fell $1.02 in exchanging 57,215 stock units, to close at $81.05, Mayberry Investments lost 59 cents and settled at $10.62, with 57,215 units, Mayberry Jamaican Equities traded 177,801 to close at a record high of $13 after 177,801 shares were traded, NCB Financial Group dropped $17.40 and ended at $111, trading 498,447 shares, 138 Students Living lost 79 cents while trading 3,100 shares and closed at $3.81, Pulse Investments added 50 cents to $3, trading 100,000 shares, Sagicor Group rose 77 cents to $42.80, trading 10,679 shares, Salada Foods lost $3.15 and ended trading at $21.80, with 7,950 stock units, Scotia Group dropped $3.01 trading 271,275 units to close at $53, Seprod jumped $3.40 and finished trading at $39, with 6,440 shares changing hands, Stanley Motta rose 45 cent in closing at $5 trading 3,555 shares and Supreme Ventures fell 51 cents to end at $17, with 222,000 shares changing hands.
Trading in the US dollar market closed with 147,541 units valued at $214,248 changing hands as JMMB Group 5.75% preference shares traded 100,000 units and gained 5 cents to end at $2.05, JMMB Group 6% preference shares traded 177 units and lost 1 cent to end at $1.07, Productive Business Solution lost 4 cents in trading 171 shares to end at 55 cents, Proven Investments ended trading with 41,883 to close at 21 US cents and Sygnus Credit Investments US dollar ordinary share traded 5,310 units to end at 11 US cents. The JSE USD Equities Index declined by 5.10 points to 162.68.

Junior Market drops 130 points in 3 days

The Junior Market Index dropped 129.61 points in three day including a drop of 63.02 on Thursday to close at 3,283.25 after 23 securities changed hands as just 4 securities advanced, 11 declined and 8 remained unchanged.
The market closed with an exchange of 1,535,498 units valued at $7,110,385, compared to 2,186,515 units valued at $8,022,205 on Wednesday from 29 securities that traded.
Trading ended with an average of 66,761 units for an average of $309,147 in contrast to 78,090 units for an average of $286,507 on Wednesday. The average volume and value for the month to date amounts to 76,083 units valued at $349,211 and 76,725 units valued at $351,970, previously. September, ended with an average of 484,335 at $2,628,299 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading had 4 stocks ending with bids higher than their last selling prices, while 5 closed with lower offers.
At the close of trading, AMG Packaging ended with a loss of 8 cents at $1.82, with 51,277 stock units trading, Blue Power concluded trading with a loss of 50 cents at $6, with 30,062 units, CAC2000 finished with a loss of 2 cents at $18, with 10,000 shares changing hands, Cargo Handlers settled 4 cents higher at $13.49, in exchanging 52,740 shares, Derrimon Trading ended at $2.80, trading 284,353 shares. Elite Diagnostic closed at $3.40, with the swapping of 63,315 stock units, Everything Fresh traded 12,000 shares to close at $1.90, Express Catering ended trading with a loss of 20 cents to $8.30, with 238,377 shares changing hands, FosRich Group traded 37 cents higher at $3.70, with 14,982 shares, General Accident rose 25 cents to $3.95, in trading 2,100 shares. GWest Corporation closed with a loss of 10 cents at $1.80, with 22,918 stock units changing hands, Honey Bun ended at $4, trading 308 units, Indies Pharma lost 30 cents to end at $3 with 103,634 shares changing hands. Iron Rock concluded trading of 14,500 shares at $4.50, Jamaican Teas settled 40 cents higher at $4.20, with 4,500 shares changing hand. Jetcon Corporation ended trading of 137,500 stock units at $3.50, but only after trading at a 52 weeks’ low of $3.45. Knutsford Express closed at $11.50, with 10,100 shares trading, Lasco Distributors ended with a loss of 10 cents at $4, with 189,009 shares changing hands, Lasco Financial concluded trading of 28,860 stock units with a loss of 5 cents at $5.30. Lasco Manufacturing finished with a loss of 42 cents at $3.30, in swapping of 251,408 units, Paramount Trading closed with 3,600 shares trading with a loss of 60 cents at $2.15, SSL Venture Capital traded 9,500 shares at $2 and Stationery and Office finished trading with a loss of 8 cents at $9.90, with 455 stock units changing hands.
Prices of securities trading for the day are those at which the last trade took place.

7 stocks fall on TTSE on Thursday

Stocks mostly rose in trading on the Trinidad & Tobago Stock Exchange on Thursday, with the price of 1 security rising, 7 declining and 10 remaining unchanged.
The market ended trading of 143,335 shares at a value of $2,574,472 compared to 505,143 shares at a value of $9,376,075 changing hands on Wednesday and ended with 18 securities changing hands, against 13 trading on Wednesday.
Trading closed, with the Composite Index declining by 5.87 points to 1,234.66, the All T&T Index fell 5.69 points to 1,698.98, while the Cross Listed Index declined 0.83 points to close at 103.63.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading closed with 4 stocks ending with higher bids than the last selling prices and 4 with lower offers.
Stocks closing with gains| First Citizens rose by 10 cents to $32.75, after exchanging 1,376 shares.
Stocks closing with losses| Ansa Mcal dropped $1.49 and completed trading 18 units at $55.50, Grace Kennedy closed with a loss of 24 cents at $2.75, with 2,970 stock units changing hands, JMMB Group shed 7 cents to end at $1.63, after exchanging 45,892 shares, LJ Williams B share lost 5 cents and settled at 70 cents, after exchanging 100 shares, Republic Financial Holdings ended trading 5 cents lower at $105.95, after exchanging 590 shares, Scotiabank fell 5 cents and completed trading at $64.80, with 19,888 units and Trinidad Cement traded with a loss of 4 cents at $2.70, after exchanging 1,000 shares.
Stocks trading with no price change|Clico Investments closed at $20, with 13,600 stock units changing hands, First Caribbean International Bank completed trading 190 units at $8.50, Massy Holdings ended at $46.92, after exchanging 579 shares and trading at an intraday 52 weeks; low of $48.85. National Enterprises ended at $8.97, with 28,539 stock units changing hands, National Flour completed trading 2,728 units at $1.70, NCB Financial Group settled at $6.15, after exchanging 11,964 shares, One Caribbean Media concluded market activity at $12, after exchanging 1,868 shares, Prestige Holdings completed trading 533 units at $7.54, Trinidad & Tobago NGL settled at $29.40, after exchanging 10,000 shares and West Indian Tobacco completed trading of 1,500 shares at $90.
EM>Prices of securities trading for the day are those at which the last trade took place.

Profit jumps 56% at Knutsford Express

Knutsford Express posted strong gains in profit for Q1.

After more than a year when Knutsford Express traded at elevated levels, things are on the mend but investors in the stock may still have to wait to see their investment paying off with much increase in the stock price.
The company’s latest results is encouraging that investors’ wait for full recovery of the price may not be far away. Profit jumped 56 percent in the August quarter to $88 million from $57 million in 2017 from Sale revenues that rose 23 percent for the quarter to $293 million from $237 million in 2017.
The company still has not provided investors with relevant information to be able to see what gross profit margin they are enjoying to better determine how well the operation is being managed.
Expenses rose at a slower pace than revenues, climbing 16 percent to $211 million from $181 million. Earnings per share rose to 18 cents for the quarter, up from 11 cents on 2017. IC Insider.com is forecasting 75 cents per share. The stock traded at $11.5 on the Junior Market of the Jamaica Stock Exchange, with a PE ratio of 15 times 2019 earnings.
Gross cash flow brought in $108 million but growth in receivables, inventories, addition of $61 million to fixed assets net cash flows used up just $4 resulting in with cash and bank balances of $134 million plus short term investments of $96 million. At the end of August, shareholders’ equity stands at $714 million with borrowings at just $71 million. Net current assets ended the period $280 million well over Payables of $34 million.

Stocks dive again on JSE – Wednesday

The sharp fall in prices on the Jamaica Stock Exchange main market continued on Wednesday closed with 19 declining just 8 rising and 7 holding firm and making big dents into the market indices.
At the close, the All Jamaica Composite Index diving 5,114.14 points to 409,805.35 and the JSE Index declined by 4,659.56 points to close at 373,379.06.
IC bid-offer Indicator| At the end of trading, the Choice bid-offer indicator reading shows 5 stocks ending with bids higher than the last selling prices and 1 closing with a lower offer.
A total of 34 securities traded including 2 in the US dollar market, compared to 32 trading on Tuesday.
Trading ended with 3,255,602 units valued at $64,853,916 changing hands, compared with 3,865,461 units valued at $98,334,906 on Tuesday.
Trading closed with JMMB Group leading with 842,614 units and 25.9 percent of the day’s volume, followed by Carreras with 569,061 units and 17.5 percent of volume traded and Ciboney trading 500,000 units or 15.4 percent of the day’s volume.
Trading resulted in an average of 101,738 units valued at over $2,026,685, in contrast to 128,849 shares valued at $3,277,830 on Tuesday. The average volume and value for the month to date amounts to 357,984 shares, valued $6,357,141 and previously, 382,244 shares, valued $6,804,156. September closed, with an average of 1,022,243 shares valued $15,752,876, for each security traded.
In the main market activity, Grace Kennedy rose 69 cents and ended trading 6,606 shares at $59.30, Jamaica Producers dropped 50 cents to close of $29.50 with 50,226 units changing hands, JMMB Group dropped $3.50 and ended at $31.50, with 842,614 shares trading. Kingston Wharves fell 43 cents in exchanging 11,112 stock units, to close at $82.07, NCB Financial Group lost 60 cents and ended at $128.40, trading 73,778 shares, Pulse Investments shed 30 cents to $2.50 trading 1,000 shares, Sagicor Group dropped $4.47 to $42.03, trading 100,416 shares, Sagicor Real Estate Fund lost 50 cents to close at $14, trading 14,745 shares, Salada Foods lost 55 cents and ended trading at $24.95, with 7,800 stock units, Scotia Group dropped $2.99 trading 46,233 units to close at $56.01, Seprod lost $4.40 and finished trading at $35.60, with 15,764 shares changing hands, Stanley Motta lost 45 cents in closing at $4.55 trading 67,400 shares, Sterling Investments gained 80 cents and closed at $23.30, with 250 shares and Supreme Ventures fell $2.48 to end at $17.51, with 89,967 shares changing hands.
Trading in the US dollar market closed with 32,239 units valued at US$4,310 changing hands as Proven Investments ended trading 7,639 to close at 21 US cents and Sygnus Credit Investments US dollar ordinary share traded 24,600 units to end at 11 US cents. The JSE USD Equities Index closed unchanged at 167.78.

Junior Market drops again on Wednesday

The Junior Market Index dropped 40.27 points to close at 3,346.27 in trading on Wednesday with 28 securities changing hands, resulting in an exchange of 2,186,515 units valued at $8,022,205, compared to 2,166,309 units valued at $10,544,793 on Tuesday from 29 securities that traded.
At the close of market activities, the prices of 7 securities advanced, 11 declined and 10 remained unchanged.
Trading ended with an average of 78,090 units for an average of $286,507 in contrast to 74,700 units for an average of $363,614 on Tuesday. The average volume and value for the month to date amounts to 76,725 units valued at $351,970 and 76,601 for an average of $357,960 previously. September, ended with an average of 484,335 at $2,628,299 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading had 5 stocks ending with bids higher than their last selling prices, while 4 closed with lower offers.
At the close of trading, Access Financial closed with a loss of 60 cents at $45.50, trading 200 shares, AMG Packaging fell 5 cents to end at $1.90, with 181,500 stock units changing hands, Blue Power concluded trading at $6.50, with 2,500 units, CAC2000 finished at $20, with 1,700 shares traded, Cargo Handlers settled with a loss of 5 cents at $13.45, with 1,320 shares changing hands Caribbean Cream ended trading at $6.75, with 20,000 shares, Caribbean Producers finished trading 19 cents higher at $6.89, with 126 units, Derrimon Trading ended with a loss of 20 cents at $2.80, exchanging 100,659 shares, Elite Diagnostic finished with a loss of 10 cents at $3.40, with 18,495 stock units changing hands. Eppley settled at $9, trading 489 units, Everything Fresh traded 153,000 shares to close at $1.90, Express Catering ended trading 9 cents higher at $8.50, exchanging 57,736 shares, FosRich Group traded 7,954 shares with a loss of 27 cents at $3.33, General Accident finished trading of 26,850 shares at $3.70. GWest Corporation closed 10 cents higher at $1.90, with 43,253 stock units being exchanged, Indies Pharma ended with 283,523 shares changing hands at $3. Iron Rock concluded trading of 2,000 shares and rose 10 cents to $4.50, Jamaican Teas dropped 58 cents to $3.80, with 84,000 shares changing hands, Jetcon Corporation ended trading of 276,043 stock units with a loss of 40 cents at $3.50. Knutsford Express closed with a loss of 50 cents at $11.50, with 14,400 shares trading, Lasco Distributors ended at $4.10, with 242,367 shares changing hands, Lasco Financial concluded trading 282,547 stock units with a loss of 12 cents at $5.35, Lasco Manufacturing finished with a loss of 3 cents at $3.72, in exchanging 35,767 units. Main Event settled 10 cents higher at $6.05, with 68,659 shares changing hands, Medical Disposables ended trading 99 cents higher at $7.49, with 300 shares, SSL Venture Capital traded 268,584 shares at $2, Stationery and Office finished trading 12,043 stock units after rising 38 cents higher to end at a record closing high at $9.98 and tTech ended at $5, with 500 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.

7 stocks rose on TTSE on Wednesday

Trinidad & Tobago Stock Exchange Head Quarters

Stocks mostly rose in trading on the Trinidad & Tobago Stock Exchange on Wednesday, with the prices of 7 securities rising, 2 declining and 4 remained unchanged.
The market ended trading of 505,143 shares at a value of $9,376,075 compared to 530,843 shares at a value of $24,133,808 changing hands on Tuesday and ended with 13 securities changing hands, against a same number trading on Tuesday.
Trading closed, with the Composite Index rising 1.68 points to 1,240.53, the All T&T Index adding 1.48 points to 1,704.67, while the Cross Listed Index rose 0.26 points to close at 104.46.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading closed with 4 stocks ending with higher bids than the last selling prices and 4 with lower offers.
Stocks closing with gains| Clico Investments rose 49 cents and ended at $20, with 307,017 stock units changing hands, Guardian Holdings closed with a gain of 1 cent and completed trading 124,882 units at $16.90, National Flour gained 5 cents and ended trading 15,000 units at $1.70, NCB Financial Group finished trading with 5 cents and settled at $6.15, after exchanging 25,980 shares, Prestige Holdings closed with an increase of 2 cents and completed trading at $7.54, with 410 units, Trinidad & Tobago NGL added 10 cents and settled at $29.40, after exchanging 16,700 shares and West Indian Tobacco closed with a rise of 1 cent and completed trading of 971 units at $90.

Stocks closing with losses|Massy Holdings traded with a loss of 8 cents and closed at $46.92, after exchanging 3,153 shares and Scotiabank fell 4 cents and completed trading of 2,175 units at $64.85.
Stocks trading with no price change|JMMB Group ended at $1.70, after exchanging 2,248 shares, Republic Financial Holdings concluded trading at $106, after exchanging 611 shares, Sagicor Financial ended at $7.69, with 5,350 stock units changing hands and Unilever Caribbean ended at $25.50, trading 646 stock units.
EM>Prices of securities trading for the day are those at which the last trade took place.