Rising stocks beetle decline in stocks 4 to 3 at the end of trading on the Trinidad and Tobago Stock Exchange on Monday, the market indices moved moderately at the close despite a rise of 191 percent in the volume of stocks traded with the value 158 percent more than on Friday and resulted in 21 securities trading up from 19 on Friday and ended with prices of four stocks rising, three declining and 14 remaining unchanged.
Investors exchanged 189,857 shares for $2,257,685, up sharply from 65,236 stock units at $876,597 on Friday.
An average of 9,041 units were traded at $107,509 compared with 3,433 shares at $46,137 on Friday. Trading for the month to date averaged 11,051 shares at $141,315 compared to 11,412 stock units at $147,381 on the previous trading day. The average trade for August amounts to 14,526 shares at $195,195.
The Composite Index climbed 0.86 points to settle at 1,198.73, while the All T&T Index slipped 0.34 points to 1,826.88, the SME Index remained at 66.38 and the Cross-Listed Index popped 0.30 points higher to end at 73.70.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Agostini’s remained at $67 in switching ownership of 59 shares, Angostura Holdings advanced 5 cents in closing at $20.05 after 170 stocks passed through the market, Ansa McAl ended at $53 with 576 units being traded, Ansa Merchant Bank ended at $42.20 with investors transferring 120 stock units. First Citizens Group fell 6 cents to $49, with an exchange of 1,413 stocks, FirstCaribbean International Bank remained at $7 with 11,360 shares crossing the market, GraceKennedy ended at $3.30 after 102,782 stock units were traded, Guardian Holdings ended at $19 with investors dealing in 3,627 units. Guardian Media remained at $2 after an exchange of 591 shares, JMMB Group rallied 2 cents to end at $1.28 in an exchange of 15,250 stock units, L.J. Williams B share ended at $2.56 with 10 stocks being traded, Massy Holdings rose 2 cents to close at $4.65 with traders dealing in 8,591 units. National Enterprises remained at $3.73 in an exchange of 10,015 stocks, National Flour Mills ended at $1.53 with investors trading 7,135 units, One Caribbean Media closed at $3.82 with 400 shares changing hands, Point Lisas ended the trading of 1,050 units at $3.40, Republic Financial popped 25 cents to $125.25 after a transfer of 3,036 shares. Scotiabank skidded 69 cents in closing at $72.50, with 14,379 stocks clearing the market, Trinidad & Tobago NGL remained at $13 with a transfer of 6,414 units, Unilever Caribbean ended at $11.90 after exchanging 2,750 stock units and West Indian Tobacco fell 40 cents and ended at a 52 weeks’ low of $10.10 with an exchange of 129 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Rising stocks edged out decliners on TTSE
Profit surges 74% at Scotia Group
Scotia Group generated a huge 74 percent jump in net profit to $12.8 billion for the nine months to July 2023 over $7.3 billion in 2022. Profits for the quarter rose a much more subdued 40 percent to $5.16 billion and is up strongly from $3.68 billion in 2022 as well as form profit $4.2 billion in this year’s April quarter.
Earnings per share for the July quarter was a strong $1.66, up from $1.18 in July 2022 and $4.11 for the nine months to July this year and puts the group on track to generate income close to $6 per share for the fiscal year end in October 2023. ICinsider.com is forecasting $5.50 in earnings for the current fiscal year.
Loans grew by $40.5 billion or a solid 18.5 percent compared to July 2022, with loans net of allowances for credit losses increasing to $259.6 billion. “Our core loan book continues to perform well with mortgages increasing year over year by 29 percent, consumer loans by 10 percent and commercial loans by 20 percent,” the group informed investors in their commentary on the results.
Total revenues excluding expected credit losses for the nine months to July, grew by $10 billion to $41.5 billion reflecting an increase of 31.5 percent over the comparative prior year period. “This was primarily driven by an increase in net interest income of $7.1 billion stemming from the strong growth in our loan portfolio, higher insurance revenue as well as higher fee and commission income earned given the significant increase in transaction volumes” the directors informed shareholders in their commentary on the financial performance.
The directors hiked the dividend to 40 cents per stock unit, payable on October 19, to stockholders up from 35 cents per stock unit last paid.
ICInsider.com is accordingly placing an ICBuyRated seal of approval on the stock, which is one of ICInsider.com TOP10 Buy Rated list of stocks. Investors have hardly noticed this performance with the share price falling from $33.44 in the morning session to $33 mid morning with trading in just over 54,000 shares with the stock trading at 5.5 times earnings currently, compared with an average of 12.2 for the overall Main Market, with a huge upside potential for growth for the next 12 months or so.
Trading climbs on JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Friday, with the volume of stocks changing hands rising 79 percent valued 94 percent more than on Thursday, resulting in trading in five securities, compared to seven on Thursday with two rising, one declining and two ending unchanged.
A total of 198,322 shares were traded on Friday for US$20,612, up from 110,725 units at US$10,600 on Thursday.
Friday’s trading averaged 39,664 shares at US$4,122 compared to 15,818 units at US$1,514 on Thursday. Trading for the month to date averages 48,287 shares at US$2,989 compared with 49,555 units at US$2,823 on the previous day. Trading in August ended with an average of 57,291 units for US$4,251.
The US Denominated Equities Index rose 1.66 points to 242.59.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.7 for the USD Market. The PE ratio is computed based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, First Rock Real Estate USD share rose 1 cent to close at 4 US cents while exchanging 134,750 shares, Proven Investments ended at 14.8 US cents with an exchange of 2,974 units, Sygnus Credit Investments slipped 0.1 of a cent to close at 9 US cents after an exchange of 52,491 stock units and Transjamaican Highway popped 0.02 of a cent to end at 1.68 US cents in an exchange of 3,000 stocks.
In the preference segment, JMMB Group 5.75% remained at US$1.95 with traders dealing in 5,107 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading plunges on the Trinidad Exchange
Trading plunged on Friday with a 78 percent drop in the volume of stocks traded, valued 80 percent less than Thursday’s trade on the Trinidad and Tobago Stock Exchange, with an exchange of just 65,236 shares for $876,597, down from 301,395 stock units at $4,488,620, from trading in 19 securities as was the case on Thursday.
The market closed with seven stocks rising, four declining and eight ending unchanged.
An average of 3,433 shares were traded at $46,137 compared with 15,863 units at $236,243 on Thursday, with trading month to date averaging 11,412 shares at $147,381 compared with 12,958 units at $167,009 on the previous day. The average trade for August ended at 14,526 shares at $195,195.
The Composite Index fell 2.18 points to 1,197.87, the All T&T Index dropped 3.73 points to 1,827.22, the SME Index ended at 66.38 and the Cross-Listed Index slipped 0.07 points to close at 73.40.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Agostini’s ended at $67 in trading 50 shares, Angostura Holdings ended trading of 8,000 units at $20, Ansa Merchant Bank declined $2.30 in closing at $42.20 after exchanging 1,028 stock units, First Citizens Group popped 6 cents and ended at $49.06 with traders dealing in 180 stocks. FirstCaribbean International Bank popped 1 cent to close at $7 with 3,202 units being traded, Guardian Holdings ended trading at $19, with 7,180 stocks crossing the market, Guardian Media ended at $2 in an exchange of 500 stock units, JMMB Group rose 1 cent to $1.26 with investors dealing in 1,500 shares. L.J. Williams B share ended at $2.56, with 1,760 shares crossing the market, Massy Holdings advanced 1 cent to end at $4.63 after an exchange of 5,709 units, National Enterprises gained 20 cents to close at $3.73 with shareholders swapping 4,952 stock units, National Flour Mills fell 11 cents to $1.53, with 1,168 stocks crossing the exchange. Point Lisas rallied 15 cents and ended at $3.40 with a transfer of 7 shares, Prestige Holdings remained at $7.93 in an exchange of 192 units, Republic Financial ended with a transfer of 443 stocks at $125, Scotiabank dipped 6 cents in closing at $73.19 while exchanging 261 stock units. Trinidad & Tobago NGL ended at $13, with 26,159 stocks changing hands, Unilever Caribbean rose 30 cents to $11.90 with investors trading 1,063 stock units and West Indian Tobacco lost 5 cents to end at a 52 weeks’ low of $10.50 as investors exchanged 1,882 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading plunges on JSE USD Market
Trading plunged on the Jamaica Stock Exchange US dollar market ended on Thursday, with a 90 percent fall in the volume of stocks changing hands, valued 59 percent less than on Wednesday and resulting in trading in seven securities the same as Wednesday and ended with two rising, three declining and two ending unchanged.
A total of 110,725 shares were traded for US$10,600 compared with 1,090,681 units at US$25,542 on Wednesday.
Trading averaged 15,818 shares at US$1,514, down from 155,812 units at US$3,649 on Wednesday, with a month to date average of 49,555 shares at US$2,823 compared with 58,302 units at US$3,162 on the previous day. August ended with an average of 57,291 units for US$4,251.
The US Denominated Equities Index popped 1.94 points to 241.16.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.5. The PE ratio is computed based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, First Rock Real Estate USD share slipped 1 cent in closing at a 52 weeks’ low of 3 US cents with stakeholders exchanging 2,541 shares, Proven Investments gained 0.1 of a cent to end at 14.8 US cents with an exchange of 3,764 stock units. Sygnus Credit Investments ended at 9.1 US cents, with 4,855 units being traded, Sygnus Real Estate Finance USD share dropped 1.5 cents to 8.5 US cents after one unit was traded and Transjamaican Highway rose 0.06 of a cent to close at 1.66 US cents with traders dealing in 95,789 shares.
In the preference segment, JMMB Group 5.75% ended at US$1.95 with shareholders swapping 3,714 stocks and Productive Business Solutions 9.25% preference share dipped 30 cents and ended at US$12 with a transfer of 61 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.