Trading on the Trinidad & Tobago Stock Exchange on Friday resulted in 6 securities changing hands compared to 10 on Thursday. Market activity ended with only 1 stock that advanced, 3 declined and 2 held firm with 90,693 units being traded at a value of $416,211 compared to Thursday’s 32,776 shares valued at $570,141.
The Composite Index gained 0.48 points to 1,205.76, the All T & T Index advanced 0.96 point to 1,833.80 with its year to date loss at 5.89 percent. The Cross Listed Index remained at 77.20 points with year to date gains of 55.93 percent.
IC bid-offer Indicator |The Investor’s Choice bid-offer ended with 6 stocks with bids higher than last selling prices and 7 with lower offers.
Gains| Trinidad Cement advanced 15 cents to $4.25 with 19,065 shares changing hands just 25 cents short of the price offered by a Cemex’s subsidiary, to acquire majority shares in the company.
Losses| First Citizens Bank closed at $34.90, falling 1 cent with 1,250 shares changing owners, L.J. Williams was down 4 cents, closing trading at 52 weeks’ low of 67 cents with an exchange of 18,500 and Trinidad & Tobago NGL lost 6 cents to close at $21.45 with 773 shares changing ownership.
Firm Trades | JMMB Group was unchanged at 89 cents with an exchange of 41,105 shares and Clico Investments with 10,000 shares being traded, closed at $22.60.
Trading activity remains low on TTSE
Flavours out Blue Power in TOP 5
Investors pushed the price of Caribbean Flavours to $9.99 during the past week and out of the IC Insider’s TOP 5 of junior market stocks list, allowing Blue Power to return at the bottom of the list. AMG Packaging price fell back and the stock moved up on the list to number 2 spot.
In the IC Insider’s TOP 5, the candidates remain unchanged but Caribbean Cement benefited from an announcement that the Cemex Group who are offering to but majority stake in Trinidad, if successful may consider delisting shares in Barbados and Jamaica including subsidiaries after a full review of the Caribbean operations. Carib Cement moved to 4th position and is worth watching in the week to come. There are 6 offers in the market at the close of trading on Friday, ranging from $36.48 to sell 10,000 units, 10,000 units at $37, the next is 2,300 shares at $44 with the next being at $45 and $60. Bids for the stocks are not very aggressive with the only meaningful one being at $34.01 to buy 69,000 shares.
