Trading on the Trinidad & Tobago Stock Exchange on Wednesday with Republic Bank trading $5.8 million worth of shares to be the dominant trade for the day. Elsewhere, market activity concluded with 9 securities trading, with 2 stocks trading higher, 1 declining and 6 remaining unchanged as a total of 139,226 units traded, valued at $8,434,389.
At the close the Composite Index ending with a modest gain of 0.01 at 1,147.57, the All T&T Index rose 0.01 to 1,950.12 and the Cross Listed Index remained at 45.27.
Gains| Guardian Holdings with 2,884 shares changing hands and closed 1 cent higher at $13.12 and West Indian Tobacco closed trading with gain of 1 cent and 8,278 shares valued at $1,043,108 changing hands to end with at a new 52 weeks’ high of $126.01.
Losses| National Flour traded 15,000 shares at $1.98 for a 1 cent loss.
Firm Trades| Clico Investment Fund with 600 shares changing hands, closed at $22.50, First Citizens Bank traded 11,624 shares valued at $406,842 to close at $35, Republic Bank had 52,060 shares with a value of $5,830,836, changing hands at $112. The stock closed looking vulnerable to fall, with a bid down at $105 while the offer is at $112. Scotiabank traded 16,070 shares, valued at $1,004,375 to end at $62.50, Scotia Investments traded 22,517 shares at $1.60 and Trinidad Cement had 10,193 shares changing hands to end at $3.15.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 3 stocks with the bid higher than their last selling prices and 8 stocks with offers that were lower.
Republic biggest trade on TTSE
Trading picked up a bit in Trinidad
Unilever products – the company’s stock closed at a 52 weeks’ high on Tuesday
At the close the Composite Index ending with a modest gain of 0.03 at 1,147.56, the All T&T Index rose 0.10 to 1,950.11 and the Cross Listed Index remained at 45.27.
Gains| Guardian Holdings with 23,050 shares changing hands for a value of $302,186, closed 3 cents higher at $13.11 and Unilever closed trading with gain of 4 cent but 880 shares changing hands to end with at a new 52 weeks’ high of $67.25.
Losses| Agostini’s traded 1,189 shares at $18.19 for a 1 cent loss and FirstCaribbean International Bank traded 18,500 shares and closed at $5.01 with a I cent loss.
Firm Trades| Angostura Holdings with 42,000 shares valued at $588,000 changing hands, closed at $14, Clico Investment Fund with 16,137 shares changing hands valued $363,083, closed at $22.50, First Citizens Bank traded 4,000 shares to close at $35,
JMMB Group closed at 43 cents while trading 20,880 shares. Massy Holdings ended with 790 shares changing hands at $62.50, One Caribbean Media traded 100 shares at $22, Republic Bank had 1,020 shares changing hands at $112, Scotiabank traded 100 shares to end at $62.50 and Trinidad Cement had 20,400 shares changing hands and ended at $3.15.IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 4 stocks with the bid higher than their last selling prices and 9 stocks with offers that were lower.
Price changes aplenty & no direction for JSE
The Jamaica Stock Exchange saw low trading activity on Tuesday and at the close, there were 10 stocks rising, 11 declining with 30 securities totalling 986,801 units, valued at $11,478,835 changing hands, in all market segments. Trading in the main market was very light with only 745,029 shares trading.
The main market indices enjoyed a second day of increases with the JSE Market Index added 77.06 points to 96,433.55, the JSE All Jamaican Composite index gained 86.11 points to 106,726.20 and the JSE combined index rose 180.75 to end at 99,807.18 points.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 9 stocks with bids higher than their last selling prices and 3 with offers that were lower.
In trading, Cable and Wireless rose 2 cents with 85,687 shares changing hands, to close at 51 cents, Caribbean Cement had 150,477 shares trading with a 29 cents rise, to $8, Carreras lost 20 cents in trading 9,195 shares and ended at $48.90, Desnoes & Geddes traded 28,656 shares to end at $6.60 for a fall of 40 cents. Grace Kennedy had 50,670 shares changing hands at $64, 
Jamaica Broilers traded at $6 with 55,760 shares changing ownership and gained 30 cents, Jamaica Stock Exchange traded 56,000 shares at $7.50, JMMB Group traded 51,620 units to end at $7.65, National Commercial Bank had 28,578 units changing hands and ended at $27.52 after losing 23 cents. Pan Jamaican traded 11,090 shares to close at $61.71. Radio Jamaica traded at $3.08 with 13,820 shares changing hands. Sagicor X Fund with 12,000 shares closed with a gain of 39 cents to end at $7.40, Scotia Group lost 95 cents in ending at $24 while 25,457 shares traded and Scotia Investments gained 1 cent to land at $25.01 with 55,000 units.
Moderate trading in Trinidad
Trading on the Trinidad & Tobago Stock Exchange on Monday saw very moderate market activity with the market closing having only 6 securities trading with 1 stocks trading higher, none declining and 5 remained unchanged as a total of 53,570 units traded, valued at $1,585,372.
At the close the Composite Index ending with a modest gain of 0.03 at 1,147.51, the All T&T Index rose 0.06 to 1,950.01 and the Cross Listed Index remained at 45.27.
Gains| Unilever was the sole stock rising with gain of 1 cent but just 17 shares traded to end with at a new 52 weeks’ high of $67.21.
Firm Trades| Clico Investment Fund closed with 5,300 shares changing hands at $22.50, First Citizens Bank traded 22,672 shares valued at $793,744 to close at $35, Republic Bank had 444 shares changing hands at $112, Scotiabank traded 9,137 shares, valued at $571,063 to end at $62.50 and Trinidad Cement had 16,000 shares changing hands and ended at $3.15.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 6 stocks with the bid higher than their last selling prices and 7 stocks with offers that were lower.
From 77 cents to J$119 to US
On January 1973 it took only 77 Jamaican cents to buy one United States dollar, roughly 43 years later it now requires an average of 119 of the local currency to purchase one US dollar. A technical assessment of the currency movement suggests that the fall in the value could be coming to an end sooner than later.
Having being trading at 77 Jamaican cents to the US dollar for a number of years, by the January 10, 1973, the Jamaican dollar was devalued by 15 percent to 91 cents to one US dollar. On the January 13, 1978 the official rate had moved to $1.05, by May 10 the rate ended at $1.55 and ended at $1.69 on the last day of the year. On May 2, 1979 the rate moved to $1.78 where it stayed until November 1983, at which stage the rate moved to $3.15. By 1985 the rate climbed to $5.50 and to $6.50 by the end of 1989, taking 365 percent more Jamaican dollars to buy the US dollar, since 1983. Ten years later in 1999, the rate reached $41.42, requiring 637 percent more local currency to but one US dollar than ten years before and by the end of 2009 it moved to $89.60, requiring just over twice the amount of Jamaican dollars for exchange for one US dollar and at the end of trading on Friday surpassed J$119 to 1 US dollar for the first time, requiring 33 percent more Jamaican dollars to purchase the US dollar, than at the end of 2009.
Trading ended Friday with the equivalent of US$32,449,484 bought by dealers, compared with US$53,172,006 on Thursday, while they sold the equivalent of US$29,004,619, versus US$58,244,225 previously. In US dollar trading , dealers bought US$30,260,875 compared to US$50,560,723 on Thursday.
The buying rate for the US dollar fell 20 cents to $118.45 and US$27,678,764 was sold versus US$56,905,545 on Thursday, the selling rate rose 4 cents to close at $119.02. The Canadian dollar buying rate added 16 cents to $86.92, with dealers buying C$849,774 and selling C$480,605, at an average rate that lost 60 cents to $88.55. The rate for buying the British Pound dropped $1 to $178.09 for the purchase of £965,327, while £529,965 was sold, at an average rate that rose 64 cents to end at $181.41. At the end of trading, it took J$134.31 to purchase the Euro, with a jump of $1.73 on Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$131.93, for a rise of $2.06 from Thursday’s rate. The US dollar equivalent of other currencies traded, amounts to US$113,653 being bought, while US$160,542 was sold.
Highs & Lows| The highest buying rate for the US dollar dropped $1.38 on Friday to $119.12, the lowest buying rate gained 16 cents to $97.44, 
the highest selling rate ended 21 cents higher at $124.87 while the lowest selling rate dived $1.74 lower to $97.45. The highest buying rate for the Canadian dollar rose 69 cents to $89.69, the lowest buying rate dipped $1.03 to $70.43, the highest selling rate climbed 13 cents to end at $91.53 and the lowest selling rate rose 50 cents to $85.50. The highest buying rate for the British Pound, added 12 cents to end at $181.50, the lowest buying rate slipped 12 cents to $145.46, the highest selling rate climbed $1.72 to $187.52 and the lowest selling rate dropped 40 cents to $175.
5 junior stocks rise 1 fall on Friday
The junior market ended on Friday with the index rising 5.71 points to 965.51 with indications below showing that Monday should be another day of more stocks rising than declining. A total of 5 stocks advanced, 1 declined with 6 securities trading. The market ended with 1,524,288 units, valued at $3.455 million changing hands.
The market ended with 3 securities with no bids to buy, while 9 had no stocks being offered for sale. A total of 9 stocks closed with bids higher than the last traded prices and 4 closed with lower offers.
In trading, Caribbean Cream traded 20,000 shares and gained 9 cents to close at $1.80, Dolphin Cove traded 4,000 shares at $11.50, General Accident Insurance traded 24,000 units at $1.50 to gain 3 cents,
Lasco Financial with 85,750 shares changing hands ended at $1.80. Lasco Manufacturing with 306,414 shares trading closed at $2.05 with a gain of 9 cents, Medical Disposables traded 621,144 shares to close unchanged at $2.50 and Derrimon Trading preference share ended with 463,000 shares changing hands to end at $2.23. The usual trading data was not available after the close on Friday as such the volumes on the bid and offers are for the most part those at 11 am on Friday morning.
Republic’s new low WITCO back at $126
After reopening on Friday after the stock market was closed for the public holiday on Thursday, Republic Bank traded at a new 52 weeks’ low on the Trinidad & Tobago Stock Exchange on Friday and West Indian Tobacco traded back at its earlier high of $126. The market closed with 13 securities trading with 6 stocks trading higher, 3 declining and 4 remained unchanged as a total of 506,338 units traded, valued at $23,476,582.
At the close the Composite Index ending with a modest loss of 0.68 at 1,147.48, the All T&T Index fell 2.04 to 1,949.95 and the Cross Listed Index gained 0.02 points to hit 45.27.
Gains| ANSA McAL contributed 254,788 shares for a value of $17,137,041 in trading, to close 1 cent higher at $67.26, Grace Kennedy had 4,180 units changing hands at $3.64 for a 14 cents gain, Guardian Holdings with 9,724 shares valued at $287,437 changing hands closed 2 cents higher, at $13.08. Praetorian Property Mutual Fund contributed 10,500 shares with a gain of 1 cent to $3.06, Prestige Holdings with 1,500 units changing hands ended with a gain of 1 cent at $9.91 and West Indian Tobacco gained 57 cents to end at $126 while trading 1,321 units.
Losses| Clico Investment Fund closed with a loss of 1 cent as 105,171 shares valued at $2,367,355 changed hands at $22.50. National Flour Mills with a volume of 51,280 shares lost 5 cents in closing at $2 and Republic Bank suffered a loss of 90 cents to close at a 52 weeks’ low of $112 with 2,000 shares changing hands, valued at $3,360,000.
Firm Trades| FirstCaribbean International Bank traded 2,141 shares to close at $5.02. JMMB Group added 24,463 shares at 43 cents each, Massy Holdings traded 1,010 shares at $62.50, and Trinidad Cement had 4,760 shares changing hands and ended at $3.15.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 4 stocks with the bid higher than their last selling prices and 7 stocks with offers that were lower.
Rising JSE stocks outpace decliners Thursday
Cable & Wireless HQ – the stock traded 10.7m units on Thursday.
The main market indices enjoyed a second day of increases with the JSE Market Index gained 89.23 points to 95,827.25, the JSE All Jamaican Composite index added 99.71 points to 106,048.63 and the JSE combined index rose 167.49 points to end at 99,045.89.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 16 stocks with bids higher than their last selling prices and 8 with offers that were lower.
This is an indication that while there is buying interest above current prices for a large number of stocks, there are still a noticeable number of stocks that investors want to be out of, at lower prices, than the last selling price.
Stocks that particularly weak are Hardware and Lumber with a last sale of $13 now being offered at $11.50. Grace Kennedy reported earlier in the year that they were considering an offer for this subsidiary at a maximum price of $18.50 and that the deal should be closed by the end of July. To date there has been no further information on the buy out offer, even as the July deadline is long past. Sterling Investments with a last sale of $13.40, now have on offer at $13.15, 242,600 units and no bids to buy.
Trading in the main market ended with Berger Paints trading 20,000 shares at $2.28, Cable and Wireless slipped 1 cent with 10,774,000 shares changing hands, to close at 49 cents. At the close the stock had 1,122,637 units on the bid at 48 cents and 172,996 units on offer at 51 cents. Carreras traded 224,067 shares at $49.50 while gaining 50 cents, Ciboney Group with 4,365,250 shares at 9 cents, Desnoes & Geddes ended with 135,000 shares trading with a 35 cents gain to close at $6.50, Jamaica Broilers had 35,930 units trading at $6.09, JMMB Group traded at $7.63 with 10,984 shares changing ownership.
Mayberry Investments had 160,100 shares trading at $2.80, National Commercial Bank had 81,100 units changing hands and ended at $27.76 while losing just 1 cent, Sagicor Group with 80,000 shares trading, closed 1 cent higher at $12.82, Scotia Group traded 52,000 shares to close with a rise of 2 cents to $23.77. Scotia Investments traded 10,110 shares in closing at $24.53 with a gain of 1 cent, Jamaica Money Market Brokers 7.50% preference share 313,046 units at $2 and Jamaica Money Market Brokers 8.75% preference share 1,841,065 units at $2.50 fo a rise of 1 cent.
J$ racing lower vs US on Wednesday
The Jamaican dollar declined further against the US on Wednesday as trading ended with the equivalent of US$29,454,444 bought by dealers, compared with US$28,126,519 on Tuesday, while they sold the equivalent of US$38,709,609, versus US$27,742,141 previously.
In US dollar trading , dealers bought US$27,318,495 compared to US$24,426,414 on Tuesday. The buying rate for the US dollar rose 25 cents to $118.31 and US$37,086,688 was sold versus US$26,566,997 on Tuesday, the selling rate rose 14 cents to close at $118.96. The Canadian dollar buying rate rose 38 cents to $87.01, with dealers buying C$987,645 and selling C$854,933, at an average rate that added 75 cents to $89.55. 
The rate for buying the British Pound fell $2.36 to $178.69 for the purchase of £882,108, while £446,384 was sold, at an average rate that dropped $1.28 to end at $181.43. At the end of trading, it took J$132.29 to purchase the Euro, with a fall by 72 cents on Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.48, for a decline of 70 cents from Tuesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$77,228 being bought, while US$298,488 was sold.
Highs & Lows| The highest buying rate for the US dollar jumped $1.42 cents to $120.50 on Wednesday. The lowest buying rate and the highest selling rate remained at $97.28 and $124.66 respectively and the lowest selling rate jumped $18.02 to $115.30. 
The highest buying rate for the Canadian dollar jumped $1.30 to $90.50, the lowest buying rate rose 8 cents to end at $71.46, the highest selling rate declined 96 cents to end at $92.13 and the lowest selling rate remained unchanged at $85.50. The highest buying rate for the British Pound, gained 80 cents to $184, the lowest buying rate slipped 92 cents to $147.24, the highest selling rate climbed $1.66 to $189.82 and the lowest selling rate dropped $2 to $175.50.
J$ loses modestly vs US on Tuesday
The Jamaican dollar loss modestly against the US on Tuesday as trading ended with the equivalent of US$28,126,519 bought by dealers, compared with US$37,071,417 on Monday, while they sold the equivalent of US$27,742,141, versus US$38,611,906 previously.
In US dollar trading, dealers bought US$24,426,414 compared to US$34,186,451 on Monday. The buying rate for the US dollar rose 1 cent to $118.06 and US$26,566,997 was sold versus US$35,640,829 on Monday, the selling rate rose 1 cent to close at $118.82. The Canadian dollar buying rate fell 27 cents to $86.63, with dealers buying C$756,523 and selling C$636,593, at an average rate that fell $1.63 to $88.80. 
The rate for buying the British Pound climbed 32 cents to $181.05 for the purchase of £1,995,879, while £379,448 was sold, at an average rate that dropped $1.65 to end at $182.71. At the end of trading, it took J$133.01 to purchase the Euro, with a fall by $2.17 on Monday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$130.17, for a decline of $2.26 from Monday’s rate. The US dollar equivalent of other currencies traded, amounts to US$84,437 being bought, while US$115,923 was sold.
Highs & Lows| The highest buying rate for the US dollar 
rose 3 cents to $119.08 on Tuesday. The lowest buying rate, the highest and lowest selling rates remained at $97.28, $124.66 and $97.28 respectively. The highest buying rate for the Canadian dollar dropped 90 cents to $89.20, the lowest buying rate fell $1 to end at $71.38, the highest selling rate declined 21 cents to end at $93.09 and the lowest selling rate remained unchanged at $85.50. The highest buying rate for the British Pound, dropped $1.80 to $183.20, the lowest buying rate slipped 91 cents to $148.16, the highest selling rate dived $4.01 to $188.16 and the lowest selling rate was unchanged at $177.50.
