Republic Bank closed with a gain of $1 to hit a new 52 weeks high in trading on the Trinidad stock market on Wednesday, on a day when there were three new 52 weeks highs and one low. 15 securities traded of which 4 advanced 2 declined and 9 traded firm with 93,307 stocks changing hands with a value of $3,580,961.
The Composite Index rose 2.12 points to close at 1,169.02, the All T&T Index added 3.33 points to close at 2,016.16 and the Cross Listed Index moved up by 0.12 points to end at 42.14 points.
Gains| Stocks increasing in price at the close, are IC Insider’s buy rated Massy Group (formerly Neal & Massy Holdings) in contributing 7,755 shares with a value of $535,443, the price was up 10 cents to close at a new 52 weeks high of $69.05, while National Commercial Bank (NCB) closed at $1.13 while gaining 2 cents and trading 5,044 units, One Caribbean Media traded only 110 units to close with a gain of 9 cents at $23.11, a new 52 weeks high and IC Insider’s buy rated Republic Bank gained $1 to close at a new 52 weeks high of $122 with 21,000 shares traded for $2,562,000.
NCB in closing at $1.13 in Trinidad or J$19.60 equivalent, was trading well above the price in the Jamaican market at $17.60.
Declines| The stocks declining at the end of trading are Sagicor Financial with 300 shares to close with a 2 cent fall to $6.66 and Scotiabank with 1,000 shares traded, to close lower by 10 cents at $69.25 for a new 52 weeks low.
Firm Trades| Stocks closing with prices unchanged at the end of trading are ANSA McAL 22 units to close at $66.29, First Citizens Bank with 6,981 shares valued at $244,340 and closed at $35, Firstcaribbean International Bank 217 shares to close at $5, Guardian Holdings with 4,335 units to close at $14.30, Grace Kennedy 1,287 shares to close at $3.41, National Enterprises with 1,207 units to close at $18.76, National Flour Mills with 650 shares and closed at $1 and Praetorian Property Mutual Fund which traded just 102 shares to close at $3.55 and Scotia Investments with 43,297 shares changing hands for a value of $67,110 closed at $1.55.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 2 stocks with the bid higher than the last selling price and 3 stocks with offers that were lower.
Republic Bank up $1 on TTSE
NCB & Scotia Investments in demand
There are good signs of increased interest in the shares of National Commercial Bank and Scotia Investments with the former rising today, and the latter having demand in excess of the supply in the market, at the end of Tuesday’s trading.
Trading levels on the Trinidad stock market was moderate but with 14 securities changing hands of which 3 advanced 3 declined and 8 traded firm. A total of 344,973 units changed hands with a value of $3,701,591. The Composite Index rose 0.31 points to close at 1,166.90, the All T&T Index fell by just 0.08 points to close at 2,012.83 and the Cross Listed Index increased by a mere 0.09 points to end at 42.02.
Gains| Stocks increasing in price at the close are Clico Investment Fund with the stock price being up by 5 cents to end at $21.55 while trading 106,618 shares valued at $2,297,618, National Commercial Bank traded 5,500 units to close 2 cents higher at $1.11 and Unilever traded 1,024 units to close at $62.30 as the price gained 5 cents as it closed at a new 52 weeks high.
Declines| The stocks declining at the end of trading are Flavorite Foods that fell 95 cents to close at a new 53 weeks low of $5.75 with 2,000 shares traded, Grace Kennedy closed at $3.41 for a 4 cents fall, with 2,000 shares traded and Sagicor Financial Corporation with 6,500 shares changing hands, closed with a decline of 1 cent at $6.68.
Firm Trades| Stocks closing with prices unchanged at the end of trading are ANSA McAL with 8,100 shares valued at $536,915 to end at $66.29, Firstcaribbean International Bank with 3,000 units to close at $5, First Citizens Bank with 13,138 shares traded for $459,866 and closed at $35, Guardian Holdings contributed 10,073 shares worth $144,044 to end at $14.30, Jamaica Money Market Brokers with 185,000 shares changing hands for a value of $83,250, closed at 45 cents, Republic Bank contributed only 13 units as the price closed unchanged at $121 and Scotia Investments traded 437 units to close at $1.55 but demand for 29,563 shares with a bid of $1.55 and an offer of 13,500 units at $1.69 suggest that the price could rise in the short term.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 2 stocks with the bid higher than the last selling price and 3 stocks with offers that were lower.
7 to nil on TTSE
Trading on the Trinidad Stock Exchange saw15 securities changing hands of which 7 advanced, none declined and 8 traded firm with 352,238 stocks changing hands with a value of $2,984,048 on Monday.
The Composite Index rose 0.53 points to close at 1,166.59, the All T&T Index inched up by just 1.08 points to close at 2,012.91 and the Cross Listed Index remained unchanged at 41.93.
Gains| Stocks increasing in price at the close are Angostura Holdings contributing 20,216 shares with a value of $262,799 to close up by 25 cents at $13, Clico Investment Fund with 26,852 shares trading, valued at $577,322 to close with a cent gain, at $21.51 One Caribbean Media traded 3,000 shares and gained 2 cents to end at $23.02, for a new 52 weeks high, Praetorian Property Mutual Fund advanced by 15 cents to end at $3.55, Prestige Holdings traded 850 shares to close with a gain of a cent at $9.41, a new 52 weeks high Trinidad Cement with a volume of 113,139 shares traded for $221,113, closed up with 4 cents at $1.99 and Unilever closed at $62.25 with a gain of a cent, in trading 2,500 shares.
Declines| No stock declined at the end of trading on Monday.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, Firstcaribbean International Bank with 143,779 shares changing hands for a value of $718,895 and closed at $5 followed by First Citizens Bank with 15,705 shares valued at $549,559, to end the day at $35, Guardian Holdings with 8,153 units to close at $14.30, Jamaica Money Market Brokers 8,000 shares changed hands to close at 45 cents, National Flour Mills with 3,1000 shares at $1, National Enterprises with 728 units, as the price ended at $18.76, Point Lisas Industrial Port Development with 3,600 shares at $4.15 and Republic Bank with 2,218 to close at $121.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 1 stock with the bid higher than the last selling price and 3 stocks with offers that were lower.
First Citizens PE more attractive
First Citizens made the sharpest price movement during the week as it dropped back sharply, ending back at $35 compared with $37.43 at the end of the previous week. The fall has raised the attractiveness of the stock giving it a 70 percent potential gain. 
Elsewhere not mush change took place more, but a number of stocks continue to post higher highs during the week as they eke away at the potential gains they have been showing. The Trinidad market has several stocks that are priced at a PE that is well below the market average, this has been so from early 2013 and continues to present.
The market has 6 stocks that are priced at a PEs that are well below the market’s average of 15, and a few close to the average, thus offering profitable investment opportunities for investors with medium term investment horizon.
The price earnings ratio| The PE ratio is the most popular measure investors use to compare and determine stocks values. It is computed by dividing the price of a stock by the earnings per share. It allows investors to compare the value of one company with others in order to decide which ones are to be bought sold or held on to. When the market moves markedly away from the norm it is usually time for investors to move. Nowhere is this truer than PE ratios.
In looking at good buying opportunities the crude measure is to buy those stocks with low PEs compared to the market or to stocks in the same sector.
Trading jumps but 3 price change
Activity picked up considerably on Friday, on the Trinidad stock market, with 15 securities changing hands at the end of trading, compared to only 4 that traded on Thursday. In Friday’s trading two stocks advanced, one declined and 12 traded firm as 174,173 stock units changed hands, with a value of $6,753,205.
The Composite Index rose by just 0.27 points to close at 1,166.06, the All T&T Index inched up by a mere 0.02 points to close at 2,011.83 and the Cross Listed Index increased by a miniscule 0.07 points to end at 41.93.
Gains| Stocks increasing in price at the close of trading are National Commercial Bank traded 8,617 shares with a value of $9,429 as the price was up 2 cents at $1.10, Unilever Caribbean with 546 shares, increased by 4 cents to end the day at $62.24 for a new 52 weeks high.
Declines| The only stock declining at the end of trading is Clico Investment Fund with 760 units valued at $16,340 and declined by 10 cents to end at $21.50.
Firm Trades| Stocks closing with prices unchanged at the end of trading Angostura Holdings with 200 units to close at $12.75, Ansa Merchant Bank 160 shares to close at $39.03, Firstcaribbean International Bank with 2,000 shares to close at $5, First Citizens Bank with 143,105 shares changing hands for a value of $5,008,675, closing at $35, Guardian Holdings 868 shares to close at $4.30, National Enterprises with 1,414 shares closed at $18.76, National Flour Mills had 2000 shares changing hands to close at $1, Neal & Massy with 489 shares changed hands to close at $68.95, Point Lisas Industrial Port Development traded 242 units to close at $4.15, Sagicor Financial Corporation with 600 share closed at $6.69, Republic Bank had a volume of 10,672 shares traded for $1,291,312 to close at $121, while West Indian Tobacco added 2,500 shares valued at $294,997 to end at $118.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 3 stocks with the bid higher than the last selling price and 2 stocks with offers that were lower.
Only 4 trades, 2 rose 1 declined
Only 4 securities traded on the Trinidad stock market on Thursday of which 2 advanced 1 declined and 1 traded firm with 187,980 units changing hands with a value of $3,556,243. The Composite Index lost by 8.38 points to close at 1,165.79, the All T&T Index fell by just 0.20 points to close at 2,011.81 and the Cross Listed Index fell by a mere 2.21 points to end at 41.86.
Gains| Stocks increasing in price at the close are Clico Investment Fund with 157,867 shares valued at $3,401,915 and closed with a 9 cents gain at $21.60 and Neal & Massy with only 11 shares with the price climbing 3 cents to end at $68.95.
Declines| The only stock declining at the end of trading is Firstcaribbean International Bank with 30,000 shares changing hands for a value of $150,000 to close with a 50 cents loss.
Firm Trades| First Citizens Bank is the only stock to close with the price unchanged at the end of trading, with 102 shares changing hands to end at $35.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 3 stocks with the bid higher than the last selling price and 2 stocks with offers that were lower
First Citizens drops $1.50
Trading on the Trinidad stock market saw First Citizens dropping back to $35 as 13 securities traded of which 4 advanced 1 declined and 8 traded firm with 244,796 stocks changing hands with a value of $2,800,434. The Composite Index lost 4.10 points to close at 1,174.17, the All T&T Index rose fell by just 9.22 points to close at 2,012.01 and the Cross Listed Index increased by a mere 0.14 points to end at 44.07.
Gains| Stocks increasing in price at the close are Clico Investment Fund with 36,100 shares valued at $777,815.44 advanced by 5 cents to end at $21.55, National Commercial Bank gained 2 cents to close at $1.08 with 69,456 shares changing hands for a value of $74,912, National Enterprises with 1,555 shares closed at $18.76 for a cent increase, Neal & Massy 845 resulted in a 2 cents rise to $68.92.
Declines| First Citizens Bank with a volume of 37,582 shares traded for $1,317,168 was the only stock that fell on Wednesday as the price lost $1.50 to close at $35.
Firm Trades| Stocks closing with prices unchanged at the end of trading are Angostura Holdings closed at $12.75 with 11,340 shares changing hands, Guardian Holdings 14,948 shares changing hands for a value of $213,756 to end at $14.30, Guardian Media 6,574 valued at $129,837 to close at $19.75, Jamaica Money Market Brokers contributed 35,000 shares with a value of $15,750 and closed at 45 cents while National Flour Mills added 30,576 shares valued at $30,616 and closed at $1, Prestige Holdings with 300 shares to close at $9.40, Republic Bank traded only 20 units to close at $121 and Sagicor Financial With 500 and closed at $6.69.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator showed an indecisive market with no clear direction with 2 stocks with bids higher than the last selling price and 2 stocks with offers that were lower.
More Insider trades
A senior manager of Scotia Group Jamaica acquired 9,284 of he group's shares under the group’s Employee Share Ownership Plan on February 19, 2014 and an Executive of Sagicor Group purchased 400,000 shares under the Executive Long Term Incentive Scheme on June 16, the companies informed the Jamaica Stock Exchange recently.
Trinidad’s Neal & Massy Holdings informed the Trinidad & Tobago Stock Exchange that on June 6, 2014 a Director sold 13,563 of the company’s shares.
Trading picks up with $7m
Trading levels on the Trinidad stock market picked up on Tuesday with more volume and valued traded than on Monday. 11 securities changed hands of which only 1 advanced 3 declined and 7 traded firm with 263,353 stocks changing hands with a value of $7,028,775. The Composite Index lost0.08 points to close at 1,178.27, the All T&T Index fell by just 0.16 points to close at 2,021.23 and the Cross Listed Index remained at 43.93
Gains| Stocks increasing in price at the close are Neal & Massy with 17,390 shares climbed by 2 cents to end the day at $68.90.
Declines| The stocks declining at the end of trading are Clico Investment Fund traded 59,760 shares valued at $1,284,959 but declined by 10 cents to end at $21.50, Readymix fell to $19.33 down by 3 cents, a new 52 weeks low as 300 units changed hands and Scotiabank dropped to a new 52 weeks low by shedding 3 cents to end at $69.35 while 1,000 shares changed hands.
Firm Trades| Stocks closing with prices unchanged at the end of trading are Angostura Holdings traded with 87,926 shares changing hands for a value of $1,120,432 as the stock closed at $12.75, Flavorite Foods 1,000 units to close at $6.70, Guardian Holdings with a volume of 44,801 shares traded with a value of $640,654 closed at $14.30, Point Lisas Industrial Port Development with 2,150 units to close at $4.15, Prestige Holdings contributed 28,614 shares with a value of $268,971 to end at $9.40 while Republic Bank added 19,646 shares valued at $2,377,166 to end at $121 and Unilever Caribbean traded 766 shares to close at $62.20.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with the bid higher than the last selling price and no stock closed with the offer that was lower.
Republic Bank seeks dismissal of court action
Republic Bank is seeking dismissal of court action brought against it by some disgruntled shareholders of the bank to prevent it from proceeding with a mandatory offer to acquire the majority of the banks shares.
The Securities and Exchange Commission, has been named as a co-defendant in proceedings brought on behalf of HFC Bank in the High Court of Ghana. These proceedings seek an injunction to prevent Republic Bank from continuing the process for a mandatory offer to all shareholders of HFC Bank Ghana to acquire the majority of the shares under the securities regulations having acquired 40 percent of the Bank in 2013.
In a release to the Trinidad & Tobago Stock Exchange on which the bank’s shares are listed, Republic stated that on June 16, in a hearing of Republic Bank’s application to dismiss the action, before his Lordship Justice Koomson at Commercial Court B, Accra, Ghana, the matter was adjourned for parties to file written submissions and set down for ruling on Monday, June 23.
Republic Bank said it is disappointed that these legal proceedings have been resorted to, as they have delayed the mandatory takeover process. Republic Bank is confident, however, that the matter will be successfully resolved, thereby allowing shareholders to exercise their rights to consider whether to sell their shares or not.
