Trading levels on the Trinidad & Tobago Stock Exchange on Thursday fell sharply despite 11 securities changing hands compared to 10 on Wednesday as just 78,795 shares traded at a value of $1,350,632 compared to Wednesday with 195,938 valued at $9,062,326.
At the close, 2 stocks advanced, 4 declined and 5 were unchanged as the two main indices rose. The Composite Index gained 0.82 points to 1,211.36, the All T&T Index advanced 1.63 points to 1,790.66 and the Cross Listed Index closed unchanged at 84.71.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 4 stocks with bids higher than last selling prices and 6 with lower offers.
Gains| Agostini’s traded $1.49 higher to close at a 52 weeks’ high of $20, with an exchange of just 100 shares and NCB Financial Group gained 1 cent, closing at $4.01, with 50,000 units trading
Losses| Clico Investment lost 1 cent to close at $22.50 exchanging 1,800 shares,
Guardian Holdings closed at $16.20, losing 5 cents with 10,000 shares changing hands, Trinidad & Tobago NGL closed at $21.25, with a loss of 8 cents trading 4,350 units and Unilever Caribbean traded 60 cents lower to close at $52, with an exchange of 5,000 units.
Firm Trades| Angostura Holdings exchanged 2,000 shares at $15.01, First Citizens remained at $31.65, with 435 shares traded and JMMB Group closed at $1.26, with 40 shares trading. Republic Financial Holdings held firm at $101.90, with 3,734 shares changing owners at a value of $380,495 and West Indian Tobacco closed at $126.35 exchanging 1,336 units.
TTSE rise with more dip than rise
PBS IPO to launch end of June
Productive Business Solutions’ prospectus for its Initial Public Offer (IPO) is expected to be available to the public on June 29, when it will be posted on the Jamaica Stock Exchange website.
The company, a member of the Musson Group, is slated for listing on the US dollar market of the Jamaica Stock Exchange. The price will be $0.55 with the target is to raise US$41.5 million.
Revenues are said to be in the order of US$200 million with EBITA of US$20 million. The company is the largest dealer for Xerox equipment and generates 60 percent of revenues from the Central American region and 40 percent in the Caribbean with 5 percent in Jamaica. Other brands the company represents are Cisco, Oracle,GMC, Triplite and Engatel.
NCB Capital Markets are the brokers handling the deal IC Insider.com has been reliably informed. The shares will be the fourth listing of ordinary shares on the US$ market of the Stock Exchange.
According the company’s website, they are the largest IT and Technology Company in Central America and the Caribbean covering 22 countries and a US$202 million multinational company employing 1,300 employees. The Musson Group has Eppley, General Accident and Seprod that are listed on the Jamaica Stock Exchange.
The Musson Group is a diversified conglomerate operating most specifically as a distributor, logistics partner, manufacturer and sales and marketing company for many global brands, and some of its own branded products in 33 countries worldwide.
IC Insider.com has also understood that a major and popularly known group with a diverse product mix has recently taken a decision to list on the Jamaica Stock Exchange. Currently, it is not known the timing for the listing or the size of the amount to be raised. IC Insider.com will keep updated as soon as more information is available.
JSE gains more than 1000 points Wednesday
Palace jumped $50 to $390 on Wednesday.
Trading in the main market of the Jamaica Stock Exchange closed on Wednesday with a number of stocks rising even as trading values declined when compared to the prior day and the market indices trended lower. The All Jamaica Composite Index gained 1,244.46 points to close at 259,440.27, the JSE Market Index rose 1,133.84 points to 236,379.46 and the JSE US dollar market index lost 12.35 points to close at 188.10.
At the close of trading, 26 securities changed hands in the main market and 2 traded in the US dollar market, leading to 14 stocks advancing and 6 declining. Trading in the main market ended with 2,290,612 units valued at $72,785,626 changing hands compared to 3,513,896 units valued at $221,929,673 at the close on Tuesday. Trading in the US dollar market accounted for 197,172 units valued at US$48,999.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 3 stocks with bids higher than their last selling prices and 3 with lower offers.
The main market ended trading with an average of 88,100 units valued at a mere $2,799,447 for every security traded compared to an average of 140,556 units valued at $8,877,187 on Tuesday. The average volume and value for the month to date ended at 194,786 units with an average value of $4,462,018 compared with an average of 202,407 units with an average value of $4,580,773 on the previous trading day. The average volume and value for May ended at 358,008 units and $9,037,303.
In market activity, Barita Investments traded 300 shares at $7, Berger Paints closed at $16, with a loss of $1.50 exchanging 16,449 shares, Cable and Wireless closed at $1.15, with 154,414 stock units trading, Caribbean Cement gained 60 cents to close at $27.50 trading 36,750 shares, Carreras closed at $86.70, with an exchange of 16,052 units, Grace Kennedy gained 30 cents and closed at $41.30, with 86,113 units changing hands, Jamaica Broilers closed at $17.90, with a loss of 10 cents trading 136,061 shares, Jamaica Producers traded 15 cents higher to close at $16, with an exchange of 6,000 units. Jamaica Stock Exchange gained 5 cents, closing at $6.95 trading 21,204 shares, JMMB Group closed at $20, after gaining 50 cents with 69,565 units changing owners, Kingston Properties closed at $10.25 with 384 units trading, Kingston Wharves traded $1.72 higher to close at $29.50, with an exchange of 1,798 shares. Mayberry Investments closed at $5.20, with gains of 70 cents trading 10,000 shares, 
NCB Financial Group closed at $71.50, losing 50 cents after exchanging 167,790 shares, 1834 Investments closed at $1.50, with 35,444 units changing hands, 138 Student Living gained 2 cents to close at $4.50, with 10,000 units, Palace Amusement jumped $50 and closed at a new all-time high of $390, trading 200 units, PanJam Investment exchanged 58,141 shares to gain 1 cent and end at $34. Pulse Investments traded 50 cents higher to close at $17.50, with an exchange of 4,756 shares, Radio Jamaica exchanged 85,169 shares at $1.60,Sagicor Group closed at $34.50, gaining 30 cents, trading 717,539 shares. Scotia Group closed at $42.53, after losing $1.02 in exchanging 510,077 shares, Scotia Investments closed at $37 with 22,356 units changing hands while Supreme Ventures gained 45 cents and closed at $7.45, with 111,000 shares trading. Proven Investments closed at 24 US cents, with a loss of 0.02 US cents, trading 183,292 ordinary shares, Margaritaville Turks lost 0.01 US cent to close at 34 US cents exchanging 13,900 units, JMMB 7.5% preference share lost 10 cents to close at $1.90, with 7,850 units changing hands and Proven 8.25% preference share gained 20 cents, closing at $5.40, with 5,200 units traded.
J$ revaluation on the way
The value of the Jamaican dollar continues to appreciate in June, with the selling rate of the US dollar falling to J$129.21 at the close on Wednesday, down from J$130.14 at the close on the last day of the May.
The rate for the local dollar has appreciated on every day of the month except for a 1 cent rise on the 14th.
Helping with the fall in the value of the US dollar against the local currency is net inflows in each week of June. In the first full week of June, ending on the 9th net inflows into the system were US$21 million equivalent and for the US dollar $14 million, the second week, US$8.5 million and US$5 million respectively and so far of the third week, USS$17 million and US$20 million respectively.
Junior Market bounces on Wednesday
Jetcon jumped $3.57 on Wednesday to close at $19.17.
Trading on the Junior Market fell below normal levels on Wednesday with 709,260 units valued at $4,202,977, down from 2,845,419 units valued at $10,795,016, passing through the market, on Tuesday. The market closed with two stocks jumping to new 52 weeks’ high.
Jetcon Corporation closed at $19.17 ahead the 3 for 1 stock split taking effect on the exchange on Thursday and Derrimon Trading preference share, ended at a 52 weeks’ high of $2.50.
Trading ended with 21 securities versus 14 on Tuesday leading 11 stocks rising and 4 declining, with the market index gaining 38.37 points to end at 3,194.93.
The market closed with 2 stocks having bids higher than their last sale prices and 2 closed with lower offers.
The Junior Market ended trading with an average of 33,774 units for an average value of $478,260 compared to 203,244 units for an average value of $771,073 on the previous trading day. The average volume and value for the month to date rose to 515,032 units valued at $2,250,311 compared with 549,408 units valued at $2,376,886, previously, in contrast, May closed with averages of just 89,339 units at $596,722.
At the close of the market, stocks trading with their last traded price are: AMG Packaging closed at $4.15 with 1,200 units changing hands, Blue Power climbed $5 to close at $55 with 184 units changing hands, Cargo Handlers ended trading 9,329 shares at $16, Caribbean Cream rose 7 cents in trading 210,000 units to end at $7.52, Caribbean Producers gained 20 cents in trading 1,000 units to end at $3.25. C2W Music had 14,000 units changing hands to close at 45 cents, Dolphin Cove had 2,300 units changing hands to close at $19.10 after rising by $1. Honey Bun had 4,183 shares changing hands to close with 12 cents loss to $6, 
Jamaican Teas traded 29,188 shares and rose 57 cents to end at $4.87, Jetcon Corporation sharply by $3.57 to end at a 52 weeks’ close of $19.17 with 24,620 shares trading, ahead of the stock starting to trade with a 3 for 1 split on Thursday. Key Insurance traded 11,651 units to close at $3.05, KLE Group traded 12,000 units to close at $2.50, Knutsford Express traded 24,717 shares to end at $16.30, with a rise of 30 cents, Lasco Distributors ended at $7, trading 1,000 units, Lasco Financial had 91,678 shares changing hands to end at $3.85, Lasco Manufacturing ended with 1,900 shares trading and closed at $4.97 after rising 42 cents. Main Event gained 12 cents and ended trading 31,720 shares at $6, Medical Disposables lost 28 cents and ended at $5.72 with 200 units trading, Paramount Trading lost 17 cents and ended with 163,480 shares changing hands at $2.85, tTech ended with 24,910 units changing hands after falling $1 to end at $8 and Derrimon Trading preference share ended with 50,000 units changing hands to close at a 52 weeks’ high of $2.50
Republic takes 68% of trading
Republic Financial Holdings took the largest value of trading on Wednesday on the TTSE.
The Trinidad & Tobago Stock Exchange resumed trading on Wednesday after being closed on Monday and Tuesday with trading values rising above Friday’s levels. Trading closed with Republic Financial Holdings as the dominant trade with just over 68 percent of the total value traded.
The market closed with of 10 securities changing hands compared to 13 on Friday with 2 stocks advancing, 5 declining and 3 holding firm as 195,938 shares traded at a value of $9,062,326 compared to Friday’s trades of 143,801 valued at $2,818,683.
The Composite Index declined 0.91 points to 1,210.54, the All T&T Index dropped 0.72 points to 1,789.03 and the Cross Listed Index lost 0.15 points to 84.71.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 5 stocks with bids higher than last selling prices and 5 with lower offers.
Gains| JMMB Group closed at $1.26, gaining 3 cents with 10,000 shares changing hands and Trinidad & Tobago NGL traded 22 cents higher to close at $21.33, with an exchange of 13,946 units valued at $295,915. Losses| Grace Kennedy closed $2.70, with a loss of 10 cents exchanging 5,198 shares, Massy Holdings traded 40 cents lower, closing at a 52 weeks’ low of $50.10, with 37,320 shares changing hands valued at $1,868,488 and 
Prestige Holdings closed at a 52 weeks’ low of $10.75, losing 6 cents in trading 45,247 units valued at $486,406. Scotia Investments lost 3 cents, in closing at $2.45 with trades of 20,910 shares and West Indian Tobacco closed at $126.35, with a loss of 3 cents exchanging 750 units.
Firm Trades| Clico Investment exchanged 1,424 shares at $22.51, First Citizens held firm at $31.65, with 342 shares trading and Republic Financial Holdings remained at $101.90, with 60,801 shares changing owners at a value of $6,195,622.
2nd buy out for Access Financial in a year
Junior market listed micro financier, Access Financial Services has acquired the loan portfolio, fixed assets and trade name of Micro Credit Limited, a release to the Jamaica Stock Exchange revealed. The acquisition is the second make by the company in just over a year.
The CEO of Access Financial, Marcus James, says “the acquisition is in keeping with the company’s overall expansion plan to grow its share of the local micro lending market. The business combination will see MCL continuing to serve the micro credit customers using its existing methodologies which have been proven both locally and internationally in that segment of the market resulting in above average portfolio performance. The alignment of the two entities will also result in efficiencies of scale.”
MCL was established in 2003 and has 6 branches islandwide. Christopher Williams, Proven Investments CEO stated earlier this month, that MCL was around the same size as Damark which were acquired by Access in May 2016 at a cost of $180 million which included, the loan portfolio of $148.7 million.
In 2015, Access acquired the loan portfolios of Asset Management Company and Appliance Traders for just over $500 million.
JSE majors fall back on Tuesday
Trading in the main market of the Jamaica Stock Exchange closed on Tuesday with stocks rising outnumbering those falling. The market indices fell back at the close the JSE Market Index fell 878.85 points to 235,245.62, with the All Jamaica Composite Index declining 964.58 points to close at 258,195.81 and the JSE US dollar market index closed at 200.45.
At the close of trading, 25 securities changed hands with 2 trading in the US dollar market, leading to 7 stocks advancing and 7 declining. Trading in the main market ended with 3,513,896 units valued at $221,929,673 changing hands compared to 2,726,092 units valued at $27,555,950 at the close on Monday. Trading in the US dollar market accounted for 51,800 units valued at US$42,613.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 6 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 140,556 units valued at $8,877,187 for every security traded compared to an average of 113,587 units valued at $1,148,165 on Monday. The average volume and value for the month to date ended at 202,407 units with an average value of $4,580,773 compared with an average of 207,165 units with an average value of $4,250,279 on the previous trading day. The average volume and value for May ended at 358,008 units and $9,037,303.
In market activity, Barita Investments traded 250 shares at $7, Berger Paints closed at $17.50, after losing 32 cents with an exchange of 9,200 shares, Cable and Wireless closed at $1.15 with a fall of 5 cents trading 30,000 stock units, Caribbean Cement gained 40 cents to close at $26.90 trading 7,290 shares, Carreras closed at $86.70, with a loss of 9 cents in exchanging 1,832 units, Grace Kennedy closed at $41, with 50,060 units changing hands, Jamaica Broilers closed at $18, with gains of 38 cents trading 3,325 shares, Jamaica Producers closed at $15.85, with an exchange of 1,658 units. Jamaica Stock Exchange traded 5,000 shares at $6.90, JMMB Group lost 50 cents to close at $19.50, with 9,100 units changing hands, Kingston Properties gained 25 cents, closing at $10.25 with 900 units, Kingston Wharves traded 77 cents higher to close at $27.78, with an exchange of 200 shares, Mayberry Investments closed at $4.50, with a loss of 80 cents trading 2,100 shares, 
NCB Financial Group closed at $72, after exchanging 3,009,420 shares, 1834 Investments closed at $1.50, with 27,400 units changing hands, PanJam Investment exchanged 280 shares at $33.99. Portland JSX Fund closed at $9.95, with a loss of 5 cents trading 18,100 units, Pulse Investments traded 3,859 shares at $17, Radio Jamaica exchanged 117,000 shares at $1.60, Sagicor Group closed at $34.20 trading 36,453 shares while Sagicor Real Estate fund gained 5 cents, closing at $11.15 with 68,441 shares trading. Scotia Group closed at $43.55 exchanging 2,390 shares, Scotia Investments traded 50 cents higher, closing at $37 with 706 units changing hands, Seprod gained $1 to close at $30, with 18,000 units traded while Supreme Ventures closed at $7, as the price lost 50 cents with 90,932 shares changing ownership. Proven Investments closed at 26 US cents trading 18,300 ordinary shares and JMMB Group US 6% preference share closed at US$1.13, with a gain of 0.01 US cent with 33,500 units traded.
Junior Market drops on Tuesday
tTech, one of ICI Insider.com top selections for 2017, traded back at its 52 weeks’ high of $9.
Trading on the Junior Market returned to more normal levels on Tuesday with 2,845,419 units valued at $10,795,016, down from 9,306,111 units valued at $117,381,126 passing through the market, on Monday with Caribbean Flavours accounting for nearly 9 million shares valued at $114,648,038.
Trading ended with 14 securities versus 17 on Monday leading 6 stocks rising and 5 falling. Jetcon Corporation closed at a 52 weeks’ high and tTech closed back at a 52 weeks’ high reached in early February as selling in the stock has almost dried up. The market index dropped 33.27 points to 3,156.56, the lowest level since the market closed at 3,131.63 points on April 24 this year. The market closed with 4 stocks having bids higher than their last sale prices and 4 closed with lower offers.
The Junior Market ended trading with an average of 203,244 units for an average value of $771,073 compared to 547,418 units for an average value of $6,904,772 on the previous trading day. The average volume and value for the month to date rose to 549,408 units valued at $2,376,886 compared with 576,036 units valued at $2,500,410, previously, in contrast, May closed with averages of just 89,339 units at $596,722.At the close of the market, Access Financial closed at $46.20 with 300 units changing hands, Blue Power dropped $5 to close at $50 with 2,700 units changing hands, Caribbean Cream rose 5 cents in trading 13,300 units to end at $7.45, Caribbean Producers gained 2 cents in trading 2,551,000 units to end at $3.05.
Eppley had 2,006 units changing hands to close at $12, Honey Bun had 500 shares changing hands to close with 1 cent gain to $6.12, Jamaican Teas traded 28,514 shares and slipped 1 cent to end at $4.30, Jetcon Corporation rose 40 cents to end at a 52 weeks’ close of $15.60 with 37,154 shares trading, ahead of the stock starting to trade with a 3 for 1 split on Thursday. Knutsford Express traded 38,791 shares to end at $16 with a fall of 30 cents, Lasco Distributors fell 20 cents and ended trading 106,185 units at $7, Lasco Financial fell 15 cents with 10,270 shares changing hands to end at $3.85, Lasco Manufacturing ended with 48,300 shares trading closed at $4.55 after rising 1 cent. Main Event ended trading with 2,686 shares at $5.88 and tTech ended with 3,713 units changing hands back to the all-time high reached on February high of $9 after climbing 45 cents on Tuesday.
Storm closes TTSE
Trading on the Trinidad & Tobago Stock Exchange was suspended for the day of 20th June 2017 because of the impending arrival of tropical storm Brett. The market last traded on Friday as it was closed on Monday for the Labour Day holiday.
On Friday, 13 securities changed hands compared to 16 on Wednesday with 2 stocks advancing, 5 declining and 6 unchanged with 143,801 shares traded at a value of $2,818,683 compared to Wednesday’s trades of 373,818 valued at $18,441,277. The market was closed for a public holiday on Thursday.
The Composite Index declined 1.05 points to 1,211.45, the All T&T Index slipped 0.63 points to 1,789.75 and the Cross Listed Index lost 0.20 points to 84.86.
