2 new highs 2 new lows on TTSE

December 7, 2017 by

Scotiabank traded at a 52 weeks’ high on Thursday.

Falling stock prices, outpaced rising stocks more than 2 to 1, at the close of trading on the Trinidad & Tobago Stock Exchange on Wednesday. All three market indices declined, as two declining stocks shed large amounts, while 2 each traded at 52 weeks’ high and low.
Ansa McAL declined by $3.03, to close at a 52 weeks’ low of $60 with just 2,028 shares trading, Republic Financial Holdings also closed at a 52 weeks’ low after losing $1.50 to end at $100.50, with 252 units changing hands while Scotiabank advanced $1 to settle at a 52 weeks’ high of $61 with 1,500 shares and Trinidad & Tobago NGL gained $1.95 to close at a 52 weeks’ high of $27 trading 3,300 shares. Scotiabank’s move is reflective of a rise in profit before Taxation of 11 percent and 5 percent after an increase in corporation tax rate in that country. Earnings per share ended the year at $3.73 for a PE ratio of 16.35.

T&T NGL closed at a record high on TTSE on Thursday.

Market activity ended with 14 securities changing hands compared to 13 on Wednesday leading to 3 stocks advancing, 7 declining and 4 holding firm.
A total of 221,067 shares traded at a value of $3,013,733 compared to Wednesday’s trades of 482,160 valued at $15,366,284.
The Composite Index declined by 6.28 points to 1,274.03, the All T&T Index lost 10.08 points to 1,743.57 and the Cross Listed Index was down 0.33 points to close at 108.44.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 4 stocks with bids higher than last selling prices and 5 with lower offers.
Gains| The other stock that gained is Clico Investment with a rise of 29 cents, in closing at $20.79 with 71,572 shares valued at $1,486,816.
Losses| Securities declining based on the last traded price are Grace Kennedy losing 4 cents in exchanging 25,000 shares to close at $2.96. JMMB Group closed at $1.88, with a loss of 2 cents trading 1,754 shares, Point Lisas fell 1 cent to $3.89 with 11,128 shares changing hands, Prestige Holdings ended with a loss of 5 cents, at $10.70 with 1,000 units, and Sagicor Financial traded 4 cents lower to $7.91 with 73,828 shares valued at $584,108.
Firm Trades| The last traded prices of securities closing with unchanged prices are Massy Holdings in exchanging 1,484 shares at $49, One Caribbean Media ending at $14 with 23,361 shares valued at $369,054, Trinidad Cementthat traded 650 units at $3.95 while Unilever Caribbean remained at $34 with 1,210 shares trading.

Filed Under: Stock Market, TTSE Market Tagged With: , , , , , , , , , , , , , , , , , ,

Only 1 stock fall on TTSE – Friday

December 1, 2017 by

Sagicor is the sole declining stock on the TTSE on Friday.

The Trinidad & Tobago Stock Exchange started off the fianl month of 2017 on a positive note at the close on Friday with 14 securities changing hands compared to 13 on Thursday leading to 3 advancing, 1 declining and 10 remaining unchanged.
The Composite Index gained 1.81 points to 1,282.26, the All T&T Index advanced 1.85 points to 1,750.94 and the Cross Listed Index gained 0.24 points to close at 109.67.
Trading ended with 189,047 shares changing hands at a value of $3,309,055 compared to Thursday’s trades of 233,449 valued at $4,648,226.
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| The last traded prices of securities rising are Guardian Holdings with gains of 5 cents, to close at $16.55 with 11,300 shares being exchanged, Massy Holdings added 10 cents to settle at $49 with 26,836 shares valued at $1,314,263 trading and National Enterprises ended at $9.75, rising 5 cents with 1,765 shares.
Losses| The sole security changing hands is Sagicor Financial after losing 8 cents to close at $7.87 trading 22,496 shares.
Firm Trades| Stocks with last traded prices remaining unchanged of the close of trading are Ansa McAL with 2,028 shares at $63.03, Clico Investment closed at $21 with 6,400 stock units, First Citizens held firm at $32 with 2,147 units changing hands, Grace Kennedy ended at $3.10 trading 70,435 shares trading, L.J. Williams B closed at 70 cents with 2,000 stock units. NCB Financial Group exchanged 3,585 shares at $6, One Caribbean Media closed at $14 with 7,800 units, Republic Financial Holdings settled at $101.50 with 1,360 shares, Scotiabank remained at $60 with 590 units and Trinidad & Tobago NGL held firm at $25 trading 30,305 stock units valued at $757,631.

Filed Under: TTSE Market Tagged With: , , , , , , , , , , , , , , , , , ,

Trading jumps to $13m on Monday

November 27, 2017 by

Trading on the Trinidad & Tobago Stock Exchange jumped to $13 million on Monday from just $514,000 on Friday as Ansa McAL with 56 percent of the volume and 93 percent of the value of securities traded.
The market closed with only 10 securities changing hands down from 11 on Friday, as 5 stocks advanced, 5 held firm and none declining, leading to 354,972 shares traded for $13,441,469, compared to Friday’s trades of 148,999 units valued at just $514,609.
The Composite Index dropped 0.08 points to 1,275.50, the All T&T Index advanced 1.17 points to 1,743.46 and the Cross Listed Index was down 0.18 points to 108.85.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 4 stocks with bids higher than last selling prices and 9 with lower offers.
Gains| Securities gaining at the close of market activities are, First Citizens gaining 5 cents and closed at $31.95, with 613 units, Guardian Holdings rising 30 cents to $16 with 6,956 shares changing hands JMMB Group rose 3 cents, in closing at $2.18 and exchanging 132,553 shares. National Flour Mills closed 10 cents higher to settle at $1.90 with 1,000 units trading and Trinidad & Tobago NGL ended at a 52 weeks’ high of $24.02, having gained 2 cents with 2,677 shares changing hands.
Firm Trades| At the close of trading on Monday,Angostura Holdings remained at $15.05 with 3,000 shares, Ansa McAL closed at $63.03 with 200,000 shares valued at $12,605,985 changing hands Clico Investment exchanged 2,800 shares at $21. Massy Holdings held firm at $48 with 5,205 shares traded and National Enterprises closed at $9.70 with 168 units.

Filed Under: Stock Market, TTSE Market Tagged With: , , , , , , , , , , , , , ,

US$22.5m for Berger Caribbean

November 26, 2017 by

Ansa Coatings US$22.5 million in cash to acquire the holding company of holding the majority shares in Berger’s operations in Barbados, Jamaica, and Trinidad and Tobago in July 2017.
The amount was stated in the valuation report done by PriceWaterhouseCoopers for the Berger Trinidad. According to the report “ANSA represented to us that a total cash consideration paid for the investment in LBOH, of which US$2.976 million was allocated to the 3,613,011 BPTL ordinary shares (representing a value of TT$5.60 per share at a conversion rate of US$1 = TT$ 6.79). ASNA further represented that the purchase consideration was not derived based on an individual territory/ subsidiary basis but for the Caribbean operations as a whole.”
The payment places the consideration of shares in the Jamaican company, close to the price of  $10.88 that was offered to the Jamaican shareholders.
According to the report the PWC reports state that “we understand that the offeror also obtained a valuation from an independent valuator as at 31 March 2017. This report estimated that the value of 100% of BPTL’s issued share to be within the range of $4.41 to $5.00 per share, with the best estimate being the midpoint of $4.70 per share.”
ACI made an offer to acquire the remaining minority shares at $6.76 per share, the price it paid to Cham Ramlal ltd. for 9.69% of the shareholding a huge premium over the traded price around $4.05. The cost to acquire the remainder of Berger Trinidad will be just over US$720,000.
The Directors recommended that the shareholders accept the offer. In doing so they took account of the fact that ANSA McAL exercises control and direction over approximately 80.86 percent of the issued and outstanding share capital of the Company. Consequently, the remaining shareholders will, in effect, have limited power to challenge any decisions of the offeror and its affiliates. Further, where the offeror, pursuant to the offer, acquires 90 per cent of the offer shares, there are statutory provisions which empower the offeror to acquire the shares of those shareholders who do not accept the offer.
They also considered the fact that the offer was well ahead of the historical price the stock traded at in the past and the poor profit performance in the past with more expected to come as well as the fairness opinion by PWC. All of that was done without trying to frighten shareholders into giving up their shares and is in complete contrast to the recommendations of Jamaican directors, using false information and withholding others pertinent information from the local shareholders, in trying to bully hem into giving away their shares. Warren McDonald a director of Berger Jamaica is one of the directors of the Trinidad company.

Filed Under: Company News, General Business News Tagged With: , , , , ,

6 TTSE stocks rose in weak market

November 23, 2017 by

Market activity on the Trinidad & Tobago Stock Exchange on Thursday resulted in 13 securities changing hands compared to 8 on Wednesday. At the close, 6 stocks advanced, 3 declined and 4 were unchanged.
The Composite Index advanced 0.88 points to 1,274.51, the All T&T Index lost 0.58 points to 1,740.90 and the Cross Listed Index gained 0.32 points to close at 108.93.
Market activity ended with 80,674 shares traded at a value of $2,224,568 compared to Wednesday’s trades of 74,546 valued at $1,870,096.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 3 stocks with bids higher than last selling prices and 8 with lower offers.
Gains| The last traded prices of securities rising on Thursday are, Clico Investment that gained 50 cents in closing at $20.50, with 30,278 shares valued at $632,166 trading. First Citizens ended with gains of 12 cents, to settle at $31.97 after exchanging 1,771 shares while First Caribbean International closed at a 52 weeks’ high of $9.30, by gaining 5 cents with 1,000 units traded. Guardian Holdings advanced 10 cents to $15.70 in exchanging 1,075 units, Sagicor Financial gained 1 cent, in closing at $7.81 with 1,200 shares and Scotiabank traded 25 cents higher, ending at $58.75 with just 100 units changing hands.
Losses| The last traded prices of securities declining are JMMB Group with a loss of 2 cents, closed at $2.18 with 9,063 shares changing hands, Massy Holdings declining by 92 cents to a 52 weeks’ low of $48 trading 7,041 share valued at $338,989 and National Enterprises that ended at a 52 weeks’ low of $9.70, after losing 5 cents with 232 units.
Firm Trades| Securities with the last traded prices unchanged at the close are, Angostura Holdings that ended at $15.05 with 400 units, Ansa McAL closed at $63.03 trading 17,014 shares valued at $1,072,392, National Flour Mills remained at $1.90 in exchanging 10,000 shares and Trinidad & Tobago NGL held firm at $24 with 1,500 shares.

Filed Under: Stock Market Tagged With: , , , , , , , , , , , , , , , , ,

NCB Financial in big drop in Trinidad – Monday

November 20, 2017 by

NCB Financial Group dropped 9.2% on the TTSE.

NCB Financial Group dropped sharply at the close of trading Trinidad & Tobago Stock Exchange on Monday, shedding 60 cents or 9.2 percent in closing at $5.90 after exchanging 159,506 shares.
The market ended with 14 securities changing hands compared to 12 on Friday as the prices of 4 stocks advanced, 3 declined and 7 closed unchanged. Total volume passing through the market was 363,319 shares at a value of $3,307,599 compared to Friday’s trades of 337,266 valued at $3,015,209.
The Composite Index declined by 12.34 points to 1,283.94, the All T&T Index gained 0.03 points to 1,754.84 and the Cross Listed Index slid 3.39 points to close at 109.59.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 3 stocks with bids higher than last selling prices and 6 with lower offers.
Gains| The last traded price of the securities rising and the volumes changing hands are Ansa McAL with gains of 3 cents, closed at $63.03 with 7,314 shares valued at $460,991, Clico Investment traded 20 cents higher, closing at $21 with 25,533 shares valued at $535,150, National Flour Mills ended at $1.95, gaining 1 cent with 1,500 units traded and Trinidad & Tobago NGL closed at $23.70, after trading as high as $23.90, but closed with a gain of 4 cents, in trading 13,497 shares valued at $322,571.
Losses| The last traded price of the securities declining on Monday are, JMMB Group with a loss of 5 cents, to settle at $2.15 with 25,925 shares exchanged, NCB Financial Group closed 60 cents lower to $5.90 trading 159,506 shares valued at $961,048, the stock closed with 40,494 units on offer at $5.90 with no buying interest expressed at the close and Republic Financial Holdings fell 5 cents, closing at $101.70 with 15 units.
Firm Trades| The last traded prices of securities and the volumes traded unchanged at the close of trading are First Citizens traded 340 units at $31.81, Grace Kennedy closed at $3 exchanging 50,000 shares, Massy Holdings remained at $49 with 1,217 units, Readymix with trades of 345 units, closed at $11. Sagicor Financial held firm at $7.95 with 74,196 shares valued at $589,818, Scotiabank ended at $58.50 exchanging 2.526 shares and Trinidad Cement closed at $3.95 with 1,405 units traded.

Filed Under: Stock Market, TTSE Market Tagged With: , , , , , , , , , , , , , , , , , ,

5 stocks up 4 down on TTSE

November 16, 2017 by

The Trinidad & Tobago Stock Exchange closed on Thursday with 16 securities changing hands compared to just 11 on Wednesday, as the market closed with mixed results as almost an equal number of stocks gained as lost.
Market activity resulted in 5 stocks advancing, 4 declining and 7 left unchanged as 636,867 shares traded at a value of $4,568,685 compared to Wednesday’s trades of 239,293 valued at $1,003,289.
The Composite Index lost 0.20 points to 1,294.98, the All T&T Index gained 1.34 points to 1,753.89 and the Cross Listed Index was down 0.24 points to 112.75.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 3 stocks with bids higher than last selling prices and 8 with lower offers.
Gains| The last traded price of the securities rising and the volumes changing hands are First Citizens with a gain of 1 cent, closing at $31.81 with 500 units exchanged, First Caribbean International Bank traded 25 cents higher to a 52 weeks’ high of $9.25 with 17,063 shares. Guardian Holdings advanced 50 cents to $15.50 with 47,810 units valued at $729,085, JMMB Group gained 5 cents to $2.20 trading 353,676 shares valued at $757,834 and Trinidad & Tobago NGL closed at $23.58, rising 3 cents while exchanging 7,500 shares.
Losses| The last traded price of the securities declining and the volume changing hands are Ansa McAL with a loss of 3 cents, settling at $63 in trading 21,434 shares valued at $1,350,342, Clico Investment sliding 20 cents, in closing at $21.80 exchanging 200 units, Republic Financial Holdings lost 1 cent, ending at $101.75 trading 19 stock units and Sagicor Financial closed at $7.95, losing 1 cent with trades of 63,620 shares valued at $505,799.
Firm Trades| The last traded prices of securities closing unchanged and the volumes exchanged are Angostura Holdings traded 17,100 shares at $15.05, Grace Kennedy trading at $3 with 70,778 shares. Massy Holdings closed at $49.50 exchanging 3,025 shares, National Enterprises traded 250 units at $9.75. National Flour Mills closed at $1.95 with 1,000 units, One Caribbean Media settled at $14 exchanging 2,000 shares and Scotiabank closed at $58.50 trading 304 stock units.

Filed Under: Stock Market, TTSE Market Tagged With: , , , , , , , , , , , , , , , , , , , ,

NCB at record high in Trinidad

November 10, 2017 by

NCB trades at record TT$6.50 or J$123.50 on the TTSE on Friday.

Trading on the Trinidad & Tobago Stock Exchange on Friday resulted in 13 securities changing hands compared to 18 on Thursday with NCB Financial Group climbing to a 52 weeks’ high of $6.50 while Ansa McAL led trading with 65 percent of the value of securities traded.
The market closed with 3 stocks advancing, 2 declining and 8 unchanged as 360,606 units traded at a value of $6,717,397 compared to Thursday’s trades of 458,073 units valued at $5,509,500.
The Composite Index dropped 0.68 points to 1,289.26, the All T&T Index declined by 2.85 points to 1,753.55 and the Cross Listed Index continued its rise, adding 0.21 points to close at 111.23.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 2 stocks with bids higher than last selling prices and 4 with lower offers.
Gains| At the close of the market NCB Financial Group rose 5 cents, to a 52 weeks’ high of $6.50 trading 80,545 shares valued at $523,543, Republic Financial Holdings traded 13 cents higher, closing at $101.89 with 3,460 shares valued at $352,307 and Trinidad & Tobago NGL gained 1 cent to close at $23.50 exchanging 6,099 shares.
Losses| Clico Investment lost 16 cents, and closed at $21.04 while exchanging 22,594 shares valued at $475,282 and National Enterprises closed 25 cents lower to a 52 weeks’ low of $9.75 with 2,337 shares.
Firm Trades| In trading on Friday Ansa McAL closed at $63.03 trading 69,500 shares valued at $4,379,985, Grace Kennedy settled at $2.95 with 58,902 shares trading, Guardian Holdings closed at $15 with 17,000 shares, JMMB Group held firm at $2.07 with 44,840 shares. Massy Holdings remained at $49.50 exchanging 2,303 shares, National Flour Mills closed at $1.99 with trades of 40,000 shares, Sagicor Financial exchanged 13,000 shares at $8 and Unilever Caribbean ended at $38.75 with just 26 units.

Filed Under: Stock Market, TTSE Market Tagged With: , , , , , , , , , , , , , , , , ,

67% premium for Berger T&T

November 10, 2017 by

Minority shareholders of the Trinidad and Tobago listed Berger Paints are set to get a 67 percent premium on their shares, with Ansa Coatings offer of TT$6.76 for the shares.
The shares were trading at TT$4.05 on the last trading day, prior to the public announcement of the takeover by the Ansa Coatings.
On July 31, Ansa completed the purchase of 500,000 shares from Chan Ramlal Limited being 9.69 percent of the issued shares at the price of offer price. The transactions triggered an obligation by the Group to make a mandatory bid for the remaining shares at the price paid for the Chan Ramlal shares.
According to Ansa, “a consequence of the LBOH Acquisition and the purchase of the Chan Ramlal shares, ACI is the beneficial owner of 3,613,011 Shares and the registered owner of 500,000 Shares amounting in total to 4,113,011 Shares and together with the 60,606 Shares owned by Sissons Paints Limited, ANSA McAL is the deemed beneficial owner of and controls approximately 80.86 percent of the issued share capital of Berger.”
Berger Paints’ Jamaica minority shareholders were offered a negative price to that at which the stock was trading at locally, which was rejected by shareholders, holding 94 percent of the minority shares.

Filed Under: Company News, General Business News Tagged With: , , , , , ,

TTSE indices’ gains mask deeper problems

November 9, 2017 by

Market activity on the Trinidad & Tobago Stock Exchange, resulted in 6 stocks advancing, 3 declining and 9 unchanged, but this positive move belies a deeper problem awaiting a market, that continues to struggle within a sick economy.
The Composite Index gained 1.30 points to 1,289.94, the All T&T Index rose 1.52 points to 1,756.40 and the Cross Listed Index added 1.52 points to close at 111.02.
IC bid-offer Indicator| The Investor’s Choice bid-offer while indicating weaknesses in the market with 3 stocks with bids higher than last selling prices and 5 with lower offers does not tell the full story of the weakness in the market. The deeper problem is the large variance between some of the stocks offered for sale compared to the last price the stock traded at. West Indian Tobacco is set to make a big negative dent in the market index when next it traded as it is offered at $5 lower than the last price it traded at, with 1,796 shares offered at $116. The closest bid to buy is at $106.25 for only 16 shares. National Enterprises offer is 20 cents lower than the last trade. Calypso Macro Fund is offer for 90 cents less than the last trade, at $21.04 and Mora Ven Holdings

This graph tell the story that Unilever shares are set for a steep fall going forward.

is offered at $1.49 below the last trade at $14.49. Unilever Caribbean is also very weak with 40,863 shares offered for sale at $38.75 but buyers are down at $35 for just 310 units. Unilever reported profit of $3 million for the June quarter or 11 cents per share and $6.8 million for the half year suggesting profit around 60 cents for the full year and is now priced at a PE ratio of 64 times earnings, the clearest indication of a huge fall in the price to come.
At the close of trading the number of securities trading climbed to 18 on Thursday compared to 15 on Wednesday, leading to 458,073 shares trading at a value of $5,509,500 compared to Wednesday’s trades of 350,612 valued at $4,377,442.
Gains| At the close of market activities, Ansa McAL traded 20,500 shares valued at $1,292,100 and gained 8 cents, to close at $63.03, Clico Investment traded 20 cents higher, closing at $21.20 with 87,039 shares valued at $1,831,429, Massy Holdings ended at $49.50, gaining 1 cent with 11,979 shares valued at $592,958. National Flour Mills closed at $1.99, rising 4 cents while trading 6,000 shares, Scotiabank advanced 40 cents to $58.50 trading 1,000 units and Trinidad Cement rose 5 cents, and settled at $4 exchanging 49,601 shares.
Losses| Trading ended as, JMMB Group traded with a loss of 2 cents, and closed at $2.07 exchanging 188,500 shares valued at $395,789, Point Lisas lost 1 cent to close at $3.95 with 500 units and Prestige Holdings was down 1 cent to $10.75 trading 9,075 shares.
Firm Trades| The last traded prices of securities closing unchanged are Angostura Holdings that closed at $15.05 with trades of 7,541 shares, Ansa Merchant Bank exchanging 3,020 shares at $40, Grace Kennedy trading 14,778 shares at $2.95. Guardian Holdings remained at $15 with 1,204 units, One Caribbean Media closed at $14 with 350 units, Republic Financial Holdings ended at $101.76 with 81 units. Sagicor Financial traded 10,000 shares at $8, Trinidad & Tobago NGL closed at $23.49 exchanging 19,958 shares valued at $468,779 and L.J. Williams 8% preference share exchanged 42 units at $3.30.

Filed Under: Feature Stories, Stock Market, TTSE Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , ,