Trinidad & Tobago Stock Exchange activity on the on Tuesday with 16 securities trading compared to 10 on Monday as the market closed with 443,163 shares valued at $9,904,481 trading, versus 403,022 units valued at $11,039,167 on Monday.
The market closed with the prices of 3 stocks rising, 8 declining and 5 remaining unchanged. At close, the Composite Index slipped 0.47 points on Tuesday to 1,268.36, the All T&T Index closed with a gain of 0.22 points to 1,697.48, while the Cross Listed Index lost 0.16 points to close at 113.26.
IC bid-offer Indicator|At the end of trading, on Tuesday, the Investor’s Choice bid-offer indicator reading shows 6 stocks with bids lower than their last selling prices and 3 with lower offers.
Gains| First Citizens gained 2 cents rise and closed at $32.19, after exchanging 2,830 shares, Guardian Holdings added 1 cent and settled at $16.01, after exchanging 12,719 stock units and Trinidad & Tobago NGL increased 25 cents and concluded trading at a 52 weeks’ high of $28, after 18,222 shares changed hands.
Losses| Ansa Mcal traded with a loss of 5 cents at $60, with 74,476 units, Grace Kennedy closed with a loss of 1 cent and completed trading at $3.34, with 1,000 units, JMMB Group fell 1 cent and ended at $1.97, with 62,448 stock units changing hands, LJ Williams A Share shed 2 cents and settled at a 52 weeks’ low of 20 cents, after exchanging 41,000 shares, Massy Holdings lost 1 cent and ended at $47.49, with 15,756 stock units changing hands. NCB Financial Group ended trading 4 cents lower at $6.53, after exchanging 76,228 shares, Sagicor Financial concluded trading with a loss of 3 cents and completed trading at $7.82, with 3,146 units and Scotiabank traded with a loss of 1 cent and settled at $62, in an exchange of 28,028 shares changing hands.
Firm Trades| Clico Investments completed trading at $20.10, with 16,760 units, First Caribbean International Bank settled at $9.30, after exchanging 86,000 shares, Point Lisas completed trading at $3.81, with 100 units, Republic Financial Holdings ended at $101.52, with 3,400 stock units changing hands, Trinidad Cement ended at $3.01, with 1,000 stock units changing hands and West Indian Tobacco settled at $88.50, after exchanging 50 shares.
Prices of securities trading for the day are those at which the last trade took place.
8 securities fall on TTSE – Tuesday
Jamaican$ value rises against US dollar – Monday
The selling rate of US dollar fell against the Jamaican dollar by 5 cents on Monday, with the rate dealers bought the US dollar costing 11 cents less than the closing rate on Friday.
On Monday, Inflows of all currencies, totaled US$49.63 million, versus US$41.47 million on Friday with the selling of US$53.75 million in contrast to US$37.21 million previously traded.
In US dollar trading, dealers sold US$50.2 million at an average of J$128.76, at the close, compared to US$36.10 million at an average of J$128.81 on Friday. Purchases of the US currency by dealers, amounted to US$46.11 million at an average of $127.14 at the close, compared US$39.08 million at an average of $127.45.
At mid-day on Monday dealers purchased US$26.57 million at an average rate of J$127.84 and sold US$17.58 million at an average of J$128.65. At mid-day on Friday dealers purchased US$9.99 million at an average rate of J$127.73 and sold US$15.10 million at an average of J$128.78.
The selling rate on Monday, for the Canadian dollar rose to J$100.55 from J$98.16 at the close on Friday, the selling rate for the British Pound slipped to J$176.24 from J$176.66 previously and the euro jumped against the Jamaican dollar at J$158.23 to buy the European common currency, versus the prior selling rate of J$159.18.
Only 10 securities trade on TTSE – Monday
Market activity on the Trinidad & Tobago Stock Exchange on Monday ended with 10 securities trading as oppose to 16 on Friday.
The market closed with 403,022 shares valued at $11,039,167 trading, compared to 200,883 shares valued at $1,445,272 on Friday. The prices of 4 stocks rose, 3 declined and 3 remained unchanged. The Composite Index rose 1.44 points on Monday to 1,268.83, the All T&T Index closed with a gain of 2.55 points to 1,697.26, while the Cross Listed Index added 0.04 points to close at 113.42.
IC bid-offer Indicator|At the end of trading, on Monday, the Investor’s Choice bid-offer indicator reading shows 8 stocks with bids lower than their last selling prices and 4 with lower offers.
Gains| First Caribbean International Bank closed with an increase of 2 cents and completed trading at $9.30, after exchanging 127,455 shares, Guardian Holdings ended trading with a rise of 50 cents to $16, after exchanging 13,000 shares, Trinidad & Tobago NGL finished trading 10 cents higher and settled at $27.75, after exchanging 5,563 shares and Unilever Caribbean rose 30 cents and ended at $30.30, with 480 units changing hands.
Losses| Ansa Mcal shed 95 cents and ended at $60.05, with 50,334 units, First Citizens lost 3 cents and settled at $32.17, after exchanging 1,615 shares and JMMB Group ended trading 2 cents lower at $1.98, with 134,136 stock units changing hands.
Firm Traded| Republic Financial Holdings concluded market activity at $101.52, with 610 stock units changing hands, Scotiabank completed trading at $62.01, after exchanging 3,949 shares and West Indian Tobacco closed at $88.50, after exchanging 65,880 shares.
Prices of securities trading for the day are those at which the last trade took place.
Iron Rock & 2 others in TOP 10
The Junior Market continues to fight for the 2018 rally to take root and grow even as interest rates are at their lowest in decades. Technical reading of this market shows the short term 45 day moving average (DMA) has crossed over the 120 DMA, a bullish sign as the market is coming from an oversold position.
With many Junior Market stocks having risen sharply in the last twelve months, it would require gains in profit above most of the recent postings to have pushed prices much higher in the short term. In a number of instances, some junior listed companies are focusing on expansion that will not bear fruit immediately and with some of the stocks pricing in these development into prices already, there are no new information to move prices in the short term. Results for the 2018 first quarter will therefore be critical in determining the performance of the market for the first half of the year.Stationery and Office Supplies got a shot in the arm from audited financial statements to December 2018, showing strong gains in revenues and profit, compared to 2016 and saw the price moving back up to $5.50 and its position in the TOP list down to 8 from number 2 in February. It won’t be long before it drops out of the list as demand push the price higher. General insurance underwriters Iron Rock is now in the list, following improved 2017 results that benefited from strong revenues growth that augurs well for earnings in 2018. The company should also benefit from rising premium rates. Paramount Trading is back in the list and so too is AMG Packaging having disposed of its machinery in the tissue operations and cut cost it in it as well from the closure of that business line. Going into the 2019 fiscal year it should be rid of most of the cost of that operations and therefore focus on the container boxes to meet the existing increased demand. Out goes Dolphin Cove with lower than projected earnings being reported for 2017, followed by Blue Power and tTech with lower results for 2017 than previously projected, that will likely negatively affect 2018 earnings for these companies.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 6.3 compared to an average PE for the overall main market is 10 based on 2018 estimated earnings.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 37 percent to the average for the Junior Market Top stocks but it’s a third of what the average PE for the year is likely to be, of 20 times earnings.
Jamaican$ gains against US currency – Friday
The selling rate of US dollar fell against the Jamaican dollar by 5 cents on Friday, with the rate dealers bought the US dollar costing 5 cents less than the closing rate on Thursday.
On Friday, Inflows of all currencies, totaled US$41.47 million, versus US$36.59 million on Thursday with the selling of US$37.21 million in contrast to US$38.85 million previously traded.
In US dollar trading, dealers sold US$36.10 million at an average of J$128.81, at the close, compared to US$37.48 million at an average of J$128.86 on Thursday. Purchases of the US currency by dealers, amounted to US$39.08 million at an average of $127.45 at the close, compared US$33.45 million at an average of $127.50.
At mid-day on Friday dealers purchased US$9.99 million at an average rate of J$127.73 and sold US$15.10 million at an average of J$128.78. At mid-day on Thursday dealers purchased US$12.85 million at an average rate of J$128.07 and sold US$10.34 million at an average of J$128.95.
The selling rate on Friday, for the Canadian dollar rose to J$99.16 from J$98.25 at the close on Thursday, the selling rate for the British Pound slipped to J$176.66 from J$177.54 previously and the euro jumped against the Jamaican dollar at J$159.18 to buy the European common currency, versus the prior selling rate of J$154.53.