At the close there was a bid to buy 1,924,850 units at $5.50, with only 122,886 units on offer at $5.60. The closing prices are the clearest message that investors are not impressed with the final offer price of $5.07 by Cemex. The closing price on Friday is still lower than the $5.60 to $6.18, Ernst and Young placed on the stock.
The market traded a mere 7 securities in contrast to 12 on Thursday leading to 5 stocks advancing, 2 holding firm and none declining. There were 182,914 units exchanged at a value of $736,886 compared to 382,443 shares valued at $3,889,464 on Thursday.
Trading ended with all three indices climbing to their highest, since the start of 2017. The Composite Index advanced 2.87 points to 1,219.86 points, the All T&T Index rose 2.40 points to 1,837.94 points and the Cross Listed Index gained 0.45 points to 80.49 points.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with 8 stocks with bids higher than last selling prices and 9 with lower offers.
Gains| Clico Investment added 1 cent to close at $22.51 with an exchange of 1,000 shares, JMMB Group closed trading at a 52 weeks’ closing high of $1.10, gaining 4 cents with 50,000 transactions being executed, the closing price equates to J$21 well above the J$15.31 it sold for in Jamaica on Friday. Sagicor Financial advanced 5 cents, closing at a 52 weeks’ closing high of $8.15 with 300 units changing hands, Trinidad & Tobago NGL was up 2 cents to $20.52 with 1,000 shares traded.
Firm Trades| National Flour Mills was unchanged at $2.40 with 40,879 shares changing hands and Scotiabank held firm at $58.75 with 939 units changing ownership.
By 10:45 am, the main market indices pulled back a bit below the all- time high but the junior remained in record territory.
Berger Paints traded at a new high of $6.75 with 85,937 after the company released results to December showing profit of $251 million or $1.17 for the period versus $110 million for 2015 with earnings of $1.17 per share for 2016. For the quarter earnings were $185 million versus $80 million in the 2015 quarter, with revenues climbing 17.8 percent in the December quarter to $895 million.
Large trades include, Cable & Wireless 1,714,703 units at up to $1.15, Jamaica Producers with 1,763,795 shares at $9.53, Jamaica Stock Exchange 6,008,714 which was mostly a cross by Victoria Wealth at $5.56 each, but now trades at $5.50. JMMB Group 1,651,360 units at $15.30, Scotia Investments 1,167,708 at $32.83. Honey Bun 496,260 at $6.20, Lasco Distributors 7,077,911 units $7.31, Lasco Financial with 3,895,608 at $3.69, Lasco Manufacturing 10,313,202 at $5.01.
Securities changing hands, amount to 32 at 10:45 am, compared to 36 on Thursday at 11.50 am. A total of 15 securities advanced and 8 declined, resulting in a volume of 34,904,514 shares changing hands, carrying a value of $248,422,322, compared of 10,504,719 shares changing hands, carrying a value of $231,575,220 on Thursday. The average number of shares traded, amount to 1,090,766 units versus 291,798 units on Thursday.
The all Jamaica Composite Index 171.74 points to 213,689.72 the Jamaica Stock Exchange Market Index rose 153.56 points to 195,451.17, the Jamaica Stock Exchange combined index gained 294.61 points to 209,785.39 and the junior market index rose 14.81 points to 2,776.75.
At the close of the market volume traded jumped 146 percent, from Wednesday’s level, as CAC 2000 traded 1,955,293 and Lasco Manufacturing exchanged 1,990,064 shares. Trading ended with 4,583,153 units, changing hands, valued at $26,375,749, with a rise of 106 percent from $12,828,651 on Wednesday.
An average of 269,597 units with an average value of $1,551,515 traded, compared to 109,745 units with an average value of $754,627 on the preceding trading day. The average for the month to date is 128,556 units with an average value of $662,517 versus 116,803 units with an average value of $588,434 on Wednesday. The average for December is 131,147 units, at an average of $672,488.
The market closed with 8 stocks with bids higher than their last sale and 2 with a lower offer, than their last sale.
At the close of trading, AMG Packaging recovered just $1.35 of the $9.95 it fell by on Wednesday to close at $24.40 with 11,000 units changing hands, CAC 2000 closed with gain of 76 cents at $6.01, Cargo Handlers lost 10 cents in trading 1,984 shares at $20.90, Caribbean Cream closed trading at $7 with 51,959 units trading. Caribbean Flavours traded 900 units to end at $11.20 with a loss of 80 cents, Caribbean Producers, traded 11,000 shares and rose 20 cents to $4, Derrimon Trading ended at $5.51 with 20,000 shares changing hands, after rising by 1 cent, General Accident Insurance traded 38,600 shares to end at $3.08 after rising 8 cents. Honey Bun closed with 1,500 shares changing hands, for a fall of 4 cents to $6.21. Jamaican Teas fell 25 cents to end at $5.50 with 15,000 shares being exchanged, Jetcon Corporation traded 185,562 shares to end at a new closing 52 weeks’ high of $10 after adding 50 cents, KLE Group closed at $2.20 with 20,000 units changing hands, Lasco Distributors ended with 9,862 units trading, to close at $7.40, after adding 37 cents. Lasco Manufacturing closed at $5, with a loss of 15 cents as just under 2 million units traded, Medical Disposables lost 13 cents to close at $4.60 with 21,127 shares changing hands, tTech traded 209,302 shares to close at $6.50 and Eppley 9.5% preference share, ended with 40,000 units changing hands to close at $6.06 after falling 12 cents.
Market activity on the Trinidad & Tobago Stock Exchange on Thursday resulted in 12 securities changing hands compared to 7 on Wednesday leading to 4 stocks advancing, 6 declining and 2 holding firm.
The Composite Index gained 0.68 points to 1,216.99 points, the All T&T Index declined 0.37 points to 1,835.54 points and the Cross Listed Index advanced 0.24 points to 80.04 points.
At the close, 382,443 units valued at $3,889,464 were exchanged compared to 453,962 shares valued at $7,222,917 on Wednesday.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with 10 stocks with bids higher than last selling prices and 6 with lower offers.
Gains| JMMB Group closed trading at a 52 weeks’ high of $1.06 adding 6 cents with 61,265 transactions being executed, National Commercial Bank added 4 cents to close at 52 weeks’ high of $3.16 with 5,350 shares changing hands. Scotiabank gained 5 cents in closing at $58.75 with only 189 units exchanged and Trinidad & Tobago NGL advanced 7 cents to $20.50 with 8,877 shares traded.
Losses| Ansa McAL lost 3 cents to close at $65.96 with 100 units changing owners, Clico Investment closed at $22.50 with an exchange of 114,259 shares valued at $2,571,913, First Citizens Bank lost 3 cents to close at $34.93 with 1,406 shares. Grace Kennedy lost 5 cents, ending at $2.60 as 21,500 shares changed hands, Republic Financial Holdings was down 1 cent to $108.38 with 453 shares traded and Trinidad Cement declined 5 cents to $5.10 with 168,768 shares valued at $868,138.
Firm Trades| Massy Holdings closed at $51.48 with 245 shares changing hands and West Indian Tobacco was unchanged at $127 with 31 units switching owners.
The main market indices of the Jamaica Stock Exchange dropped in the morning session but the junior index gained in the morning session in trading on Thursday Trading levels climbed sharply over that on Wednesday.
Securities changing hands, amount to 36 at 11:50 am, compared to 28 on Wednesday at 10.45 am. A total of 14 securities advanced and 14 declined, resulting in a volume of 10,504,719 shares changing hands, carrying a value of $231,575,220, compared of 2,342,522 shares changing hands, carrying a value of $11,878,847 on Wednesday. The average number of shares traded, amount to 291,798 units versus 83,662 units on Wednesday.
The all Jamaica Composite Index fell 1,164.76 points to 212,145.45 the Jamaica Stock Exchange Market Index lost 1,041.50 points to 194,070.32, the Jamaica Stock Exchange combined index lost 916.60 points to 208,357.80 and the junior market index rose 4.78 points to 2,762.43.
At the close of the market, volume traded climbed 51 percent, from Tuesday’s level, ending with a volume of 1,865,673 units, changing hands, valued at $12,828,651, with a rise of 63 percent from $7,873,809 on Tuesday.
An average of 109,745 units with an average value of $754,627 traded, compared to 68,565 units with an average value of $437,434 on the preceding trading day. The average for the month to date is 116,803 units with an average value of $588,434 versus 117,445 units with an average value of $573,325 on Tuesday. The average for December is 131,147 units, at an average of $672,488.
The market closed with 8 stocks with bids higher than their last sale and 1 with a lower offer, than their last sale.
At the close of trading, AMG Packaging dived $9.95 to close at $23.05 with 50,049 units changing hands, even as the company announced the payment of a dividend of 42 cents per share. Blue Power closed with 1,130 units changing hands at $37, Caribbean Cream closed trading at $7 as strong buying interest resulted in 847,000 units trading. Caribbean Producers, traded 392,000 shares and rose 20 cents to $4, Consolidated Bakeries ended trading 2,800 shares to close at $2.40, General Accident Insurance traded 70,000 shares to end at $3 after rising 10 cents, Honey Bun closed with 111,825 shares changing hands, for a rise of 5 cents to $6.25. Iron Rock Insurance traded 26,182 shares but lost 1 cent to end at $3.99, Investors bought 298,383 Jetcon Corporation’s shares to end at $9.50. KLE Group closed at $2.20 with 4,000 units changing hands, Lasco Distributors ended with 3,500 units trading, to close at $7.03, after shedding 17 cents, Lasco Financial had 13,300 shares changing hands, to end at $3.63, with a 2 cents loss, Lasco Manufacturing ended at $5.15, with 13,824 units trading. Medical Disposables closed at $4.83 with 2,000 shares changing hands, tTech traded just 850 shares to close at $6.50 and Derrimon Trading preference share, lost 12 cents ending with 24,250 units changing hands to close at $2.
Trading levels on the Trinidad & Tobago Stock Exchange on Wednesday resulted in all three indices rising emanating from only 7 securities changing hands compared to 11 on Tuesday.
A total of 453,962 units valued at $7,222,917 were exchanged compared to 305,919 shares valued at $1,570,666 on Tuesday. The market closed with 2 stocks advancing, 4 declining and 1 unchanged
The Composite Index advanced 0.51 points to 1,216.31 points, the All T & T Index lost 0.64 points to 1,835.91 points and the Cross Listed Index gained 0.23 points to 79.80 points.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with 8 stocks with bids higher than last selling prices and 7 with lower offers.
Gains| JMMB Group gained 5 cents, closing trading at a new 52 weeks’ high of $1 with 4,918 shares being exchanged and Trinidad & Tobago NGL closed at $20.43, advancing 13 cents with 30,203 units valued at $617,040 changing hands.
Losses| Ansa McAL closed at $65.99, a loss of 26 cents with 50,000 units traded, valued at $3,299,500, Massy Holdings was down 2 cents to $51.48 with an exchange of 3,000 units, Republic Financial Holdings lost 4 cents to close at $108.39 with 2,000 shares changing hands and West Indian Tobacco fell 3 cents, in closing at $127 with 8,613 units changing hands, with a value of $1,094,072.
Firm Trades| Trinidad Cement closed trading at $5.15 with an exchange of 355,228 shares valued at $1,836,167.
The outlook for the media and entertainment industry is positive. The industry can be consider cyclical, which will benefit from overall economic growth. As companies expand operations and try to improve their client relationships, an effective media and events partner is valuable in maintaining overall brand reputation, consumer awareness and loyalty.
The industry is poised for growth as new marketing and entertainment trends emerge focusing on “experiential marketing” rather than traditional methods. In addition Jamaica is well poised to become the commercial capital of the Caribbean and this would lead to more corporate events, conferences, concerts and more, which is a direct benefit to the media and entertainment industry.
Products|The Company provides a diverse range of marketing, events and entertainment related services including equipment rental, graphic design, online marketing, project marketing and sound and video production.
The group is well established as a leader in their industry, with only 3 major competitors and a larger number of smaller players. They list their competitive advantage as being a full service company providing turnkey solutions. MEEG is involved in a number of signature events which occur annually. This provides a good source or repeat business from existing clients and a basis for new business for some of these clients.
MEEG has built up a good reputation in the industry, and brings a wealth of knowledge to clients. They appear well rounded and versatile in their offerings. They also own a fairly large stock of equipment which positions them to react quickly to customer demands. The company operates in a number of Caribbean territories which could present further growth opportunities regionally.
Risks/Concerns|Some risks to MEEG include:
1. Equipment becoming rapidly outdated with the emergence of new technology.
2. It is expected that this could be a very capital intensive business. Their decision to own equipment rather than lease could also be one that hurts them in the long run.
3. A lot of their revenues appear to be derived from a few major clients. This could prove detrimental should they lose one or more of these customers or their profits could be eroded due to increased competition.
4. Intercompany contracts surrounding sourcing of equipment etcetera, is of concern but this may have been done for greater tax efficiency purposes.
Financial Highlights|The company appears to be running short on cash with the proceeds of IPO helping to alleviate the pressure. Net earnings should increase once finance costs are reduced.
At current valuation, the company is trading at just over 2 times book value (inclusive of the cash raised from the IPO)
At the offer price, the company is trading at 10 times last year’s earnings, based on the new number of shares assuming no new income from the capital to be raised. The estimated 2016 earnings is put at $0.23 and estimated 2017 earnings at $0.33 (earnings could be closer to $0.40 per share if debt is reduced and gross profits improved.)
Based on these projections, the stock price using a market PE of 15 could reach a price of about $5 in the next 12 months.
David Stephens is an individual investor in local and international stocks.
Both the main market indices and the junior index fell in early trading on Wednesday. A fall in the prices of National Commercial Bank and Caribbean Cream seem to be the main factors for the decline as declining stocks out did advancing ones.
Market activity saw, Caribbean Cream traded 100,000 shares and lost 45 cents to trade at $6.55 while Jetcon Corporation has so far seen 293,383 units changing hands at $9.50 having opened at $10 and Cable & Wireless ended with 1,074,228 trading down to $1.18.
Securities changing hands, amount to 28 at 10:45 am, compared to 36 on Tuesday. A total of 6 securities advanced and 14 declined, resulting in a volume of 2,342,522 shares changing hands, carrying a value of $11,878,847, compared of 2,005,791 shares changing hands, carrying a value of $21,705,565 on Tuesday. The average number of shares traded, amount to 83,662 units versus 55,716 units on Tuesday.
The all Jamaica Composite Index fell -576.94 points to 212,944.47, the Jamaica Stock Exchange Market Index lost -515.89 points to 194,784.79, the Jamaica Stock Exchange combined index lost 565.40 points to 208,971.00 and the junior market index fell 8.47 points to 2,757.63.
The Main Event Entertainment Group Initial Public offer of shares seem set to deliver a strong increase in share price once the stock list on the junior market probably in February. There are a number of positives to greet the issue.
The stock market is in a bull run currently. The stock is priced at just $2 which many small investors will be attracted to. The historical PE is just 7, compared to an average of 15 for junior market stocks, based on 2016 earnings. IC Insider.com is projecting earnings in the order of $100 million for 2017, assuming a 15 percent revenue gain, for earnings per share of 33 cents. Based on this, the stock should more than double in 2017.
The company grew revenues by 11 percent in 2016 over 2015 to an estimated $1.13 billion and by 55 percent over 2014 while that for 2013 was flat at $517 million. The company indicates that they had to recently turn away business due to capacity constraints which the fresh capital will fix.
Gross profit has been strong at 36 to 38 percent level in 2016, but it may be somewhat lower, as some items in administrative and general expenses may be directly related to events, rather than overheads.
Main Event,should benefit from the strong growth in the tourism sector and pickup in economic activity locally, that should see a greater number of Jamaicans patronising entertainment events, allowing for more events to be staged.
Importantly, the profile of the company will grow with the listing, as they benefit from daily exposure based on trading activity. The expanded directorship and regular examination of operations by the board and the infusion of capital will result in even better performance going forward and that should boost revenues and hold cost in check. This is a factor that should not be lost on investors.
Only 60 million shares are being sold, with few being available to the general public. The issue opens at 9 am, Tuesday 24 January and is likely to close at the same time. On the negative side, the company suffered a large fall in digital signage income with $75 million inflows in the 11 months to September 2016 from $139 million in the similar period in 2015. Receivables tend to be on the high side of nearly 2 months of sales, tying up nearly $100 million in excess of normal levels, while payables are running at 2.3 months at $181 million.
IC Insider.com is according an investment in the stock to be BUY RATED.
The main market of the Jamaica Stock Exchange, ceded some grounds to close out Tuesday ‘s trading. Advancing stocks being just below decliners.
At the close the All Jamaica Composite Index lost 118.15 points to close at 213,521.41 and is just 9 points adrift from the all-time high reached on January 6. The JSE Market Index slipped 105.65 points to finish at 195,300.68 and the JSE combined index fell 50.23 points to close at 209,536.40.
The market closed with 40 securities changing hands, 16 stocks gained and 11 declined in the overall market, including 6 stocks rising and 5 falling, in the junior market.
At the close with 4,982,675 units valued at $90,430,065 changed hands, compared to 24,599,887 units valued at $157,873,358 changing hands on Monday. Of the stocks traded, the junior market accounted for 1,234,173 units, changing hands, valued at $7,873,809.
The average trade for the day in the main market ended at 138,833 shares compared to an average of 688,233 units traded on Monday. The average for the month to date, is 489,448 versus 840,062 units on the previous trading day, well below the average of 549,379 units, December ended with.
IC bid-offer Indicator| At the end of trading in the main and junior markets, the Investor’s Choice bid-offer indicator reading shows 7 stocks with bids higher than their last selling prices and 3 with lower offers.
In market activity, Berger Paints ended trading of 32,268 shares to close at $6, Cable and Wireless ended with 1,623,683 units at $1.30, after gaining 15 cents, Caribbean Cement ended with a fall of $1 while trading 255,458 shares to close at $32, Carreras closed at $66.50 with 7,191 shares changing hands after falling by 25 cents. Grace Kennedy had 112,010 units trading, with the price rising 55 cents, to close at $40.65, Jamaica Broilers fell 88 cents and closed at $14.62 with 54,101 shares changing hands, Jamaica Producers traded 30,807 shares to end at $9.50, Jamaica Stock Exchange traded 72,932 shares, to end at $5.60, JMMB Group traded 79,284 units to end at $15.20. Kingston Wharves gained 51 cents in trading 11,095 units to close at 52 weeks’ high of $25.51, National Commercial Bank fell 25 cents swapping 10,672 shares to close at $51.75, investors swapped 877,115 units of 138 Student Living at $4.50. Pan Jam Investment traded 47,415 units with the price jumping $3.40 to end at a $30, Portland JSX traded 3,242 units to end with a loss of 80 cents at a 52 weeks’ low of $10.20. Pulse Investments traded 24,651 units and gained 50 cents to close at $4.50, but ended trading with the offer at $4. Radio Jamaica traded 337,368 shares to close at $1.28, Sagicor Group closed with 4,900 shares changing hands with a rise of 9 cents at $28.30, Scotia Group with 49,400 shares changing hands, rose 50 cents to close at $36.50, Scotia Investments fell 1 cent with 16,232 units trading, to end at $32.49. Seprod traded 21,012 shares but lost 89 cents in closing at $29.51, Supreme Ventures lost 14 cents in trading 37,216 units at $5.15 and Proven Investments traded 14,970 ordinary shares to close at 21.99 US cents.
At the close of trading on Tuesday the prices of 6 stocks rose, 5 declined with 18 securities trading, compared to 15 trading on Monday. Volume of stocks traded dropped 83 percent, from Monday’s level, ending with a volume of just 1,234,173 units, changing hands, valued at $7,873,809, with a fall of 73 percent from $28,781,077 on Monday.
An average of 68,565 units with an average value of $437,434 traded, compared to 492,938 units with an average value of $1,918,738 on the preceding trading day. The average for the month to date is 117,445 units with an average value of $573,325 versus 122,333 units with an average value of $586,914 on Monday. The average for December is 131,147 units, at an average of $672,488.
The market closed with 5 stocks with bids higher than their last sale and 1 with a lower offer, than their last sale.
At the close of trading, AMG Packaging shed $2 to close at $33 with 12,972 units changing hands, Blue Power gained 40 cents and closed with 3,852 units changing hands at a new record of $37, Caribbean Cream closed trading at $7 with 53,392 units trading. Caribbean Flavours rose 5 cents with just 560 units being exchanged at $12, Caribbean Producers, traded 35,030 shares and rose 20 cents to $4, Consolidated Bakeries fell 20 cents in trading 19,200 shares to close at $2.40, Derrimon Trading ended at $5.50 with 19,751 shares changing hands, after slipping by 10 cents. Dolphin Cove ended at $14.50 with 3,000 shares trading, General Accident Insurance traded 211,562 shares to end at $2.90, Honey Bun with 78,928 shares changing hands, to close at $6.20, Jamaican Teas climbed 45 cents and ended with 5,000 shares being exchanged at a new record of $5.75. Investors bought 329,001 Jetcon Corporation shares with a gain of 50 cents to a new high of $9.50. Lasco Distributors ended with 28,000 units trading, to close at $7.20, Lasco Financial had 31,990 shares changing hands, to end at $3.65, with a 5 cents loss Lasco Manufacturing ended at $5.15, with 52,300 units trading. Medical Disposables closed at $4.50 with 4,650 shares changing hands, Paramount Trading ended with 154,637 shares changing hands at $3, with a loss of 12 cents and tTech traded 190,348 shares and rose 50 cents to close at record high of $6.50.
Activity on the Trinidad & Tobago Stock Exchange on Tuesday closed with 11 securities changing hands compared to 13 on Monday with 2 stocks advancing, 4 declining and 5 remaining unchanged.
Trading resulted in an exchange of 305,919 units valued at $1,570,666 compared to 287,730 shares valued at $3,325,149 on Monday.
The Composite Index gained 0.09 points to 1,215.80 points, the All T & T Index was down 0.42 points to 1,836.55 points, the Cross Listed Index was up 0.08 points to 79.57 points.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with 8 stocks with bids higher than last selling prices and 7 with lower offers.
Gains| JMMB Group gained 3 cents to close trading at a 52 weeks’ high of 95 cents with an exchange of 135,700 shares and West Indian Tobacco added 1 cent, closing at $127.03 with only 500 units changing hands.
< Strong> Losses| strong> Grace Kennedy, with 40,210 shares traded, lost 2 cents to close at $2.65, Guardian Holdings was down 1 cent to $13 with transactions of 23,372 units being executed, valued at $304,255. Scotiabank closed at $58.70 and ending with a loss of 5 cents as 957 shares changed hands and Trinidad & Tobago NGL declined 15 cents to $20.30, traded 27,365 units valued at $555,565.
Firm Trades| Clico Investment closed at $22.60 with 2,350 shares changing hands, First Citizens, with an exchange of just 40 units, closed at $34.97, Prestige Holdings traded 731 shares in closing at $11. Scotia Investments was unchanged at $2.10 with trades of 30,000 units and Trinidad Cement closed at $5.15 with 44,694 shares switching owners.
Cable & Wireless climbs 25 cents to $1.40 in early trading, with 382,466 units changing hands, but the main market indices slipped while the junior index just inched up in early trading on Tuesday.
Blue Power traded at a new high of $37 with 3,852 units changing hands as investors continue to react positively to an announcement by Jetcon Corporation of a likely dividend and stock split droving the stock up to a new high of $10.05 in trading 139,710 units, tTech rose 50 cents to an all-time high of $6.50 with 150,500 shares changing hands. Investors sharply marked AMG Packaging down $8.50 to $26.50 with 6,358 units as they responded to lower profits for the year to November,
Securities changing hands exceeded that on Monday with 36 traded at 10:50 am, compared to 32 on Monday. A total of 14 securities advanced and 9 declined, resulting in a volume of 2,005,791 shares changing hands, carrying a value of $21,705,565, compared of 12,710,223 shares changing hands, carrying a value of $68,889,688 on Monday. The average number of shares traded, amount to 55,716 units versus 397,194 units on Monday.
The all Jamaica Composite Index fell 246.53 points to 213,393.03, the Jamaica Stock Exchange Market Index lost 220.44 points to 195,185.89, the Jamaica Stock Exchange combined index climbed 185.47 points to 209,401.16 and the junior market index rose 1.84 points to 2,763.30.
Trading resulted in an exchange of 287,730 units valued at $3,325,149 compared to 166,719 shares valued at $2,032,545 on Friday.
The Composite Index gained 0.16 points to 1,215.71, the All T&T Index lost 0.69 points to 1,836.97 and the Cross Listed Index rose 0.14 points to 79.49.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with 6 stocks with bids higher than last selling prices and 5 with lower offers.
Gains| Clico Investments added 1 cent to close at $22.60 with of 8,000 shares changing hands, Guardian Holdings closed at $13.01, adding 1 cent with an exchange of 212,389 shares valued at $2,761,059. National Commercial Bank closed at a 52 weeks’ high of $3.12 with a gain of 2 cents and 10,000 units changing owners and Trinidad Cement climbed 5 cents to a 52 weeks’ high of $5.15 with 4,000 units traded.
Losses| Massy Holdings lost 49 cents to close at $51.50 with 355 shares being exchanged and Trinidad & Tobago NGL closed at $20.45, down 5 cents with 2,595 shares changing owners.
Firm Trades| Grace Kennedy closed at $2.67 with 5,700 units changing hands, Republic Financial Holdings, with an exchange of 63 shares, closed at $108.43. Sagicor Financial held firm at $8.10 with 20,952 units being traded, Scotia Investments was unchanged at $2.10 with trades of 18,051 units, Scotiabank exchanged a mere 25 units to close at $58.75, L.J. Williams exchanged 5,400 shares, closing at 66 cents and West Indian Tobacco closed at $127.02 with 200 shares changing hands.