CEMEX’s Trinidad Cement offer pushes stock

Trinidad Cement shares in play.

Trinidad Cement shares in play.

The announcement by CEMEX on Monday that one of its indirect subsidiaries will be presenting a bid to acquire shares to take the ownership of the Cemex group to just under 75 percent of the TCL, for TT$4.50 per share, to all Trinidad Cement shareholders in Barbados, Jamaica and Trinidad & Tobago seemed to have helped to push the price of the stock in the day’s trading.
Market activity on Monday saw an increase in trading levels with volume and value rising strongly as 11 securities traded compared to 7 on Friday. At the close, 2 stocks advanced, 2 declined and 7 remained unchanged as 846,000 shares were traded with a value of $6,385,564 in contrast to Friday’s volume of 133,162 units valued at $610,132.
The Composite Index advanced 0.67 points to 1,207.32 points, the All T & T Index gained 1.27 points to 1,830.55 points, reducing its year to date loss to 6.05 percent. The Cross Listed Index was up 0.01 points to 78.07 points with year to date gains of 57.69 percent.
IC bid-offer Indicator |The Investor’s Choice bid-offer ended with 6 stocks with bids higher than last selling prices and 8 with lower offers.
Gains| Sagicor Financial added 1 cent to close at a 52 weeks’ high of $7.62 with 1,000 shares changing hands while Trinidad Cement closed with gains of 49 cents to close at $3.88 as 608,138 shares changed hands for a value of $2,124,450.
Losses| National Flour Mills lost 4 cents to close at $2.52 with 1,010 shares changing hands and Scotiabank lost 1 cent, closing at $58.69 with 59,715 shares exchanged for a value of $3,504,673.
TTSE sum 5-12-16 Firm Trades | Angostura Holdings traded firm at $15.50 with 62 shares changing hands, Ansa McAL closed at $66.50 with 73 shares changing hands, Clico Investment, with 4,187 shares switching owners, closed at $22.55, and FirstCaribbean International Bank held firm at $8.50 with 62,210 shares changing hands with a value of $528,785. JMMB Group closed with 109,385 shares changing hands at 90 cents, Massy Holdings remained unchanged at $51 with 120 shares changing owners and West Indian Tobacco closed at $127 with 100 shares changing hands.

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