Boom coming for Junior Market ICTOP15

The Junior Market ICTOP15 is set for a significant upward climb over the next 15 months as solid economic growth continues and interest rates pull back in 2023. There will be a considerable uptick in Tourism arrivals for the winter season as the sector delivers record performance as it will have fully recovered from the disrupter to the industry in 2020 and deliver record revenues and profits for several companies.
The Junior Market delivered gains for 31 companies in 2022 but underperformed expectations even as the value of shares traded jumped 130 percent to $16.34 billion in 2022 from just $7.1 billion in 2021.

Junior Market Index showing the market in consolidation mode since November ahead of a breakout.

The value of stocks trading in the first 11 months was higher than the previous year, with only December being lower than 2021. Trading slowed in the last three months, helped by new IPOs that pulled funds from the market. Interestingly, the market did not reflect much adverse reaction to the rise in interest rates in 2022.
In the first nine trading days of 2023, the value of stocks traded on the Junior Market rose 15 percent to $172.6 million, up from $149.8 million over the first nine trading days in 2022, and running well ahead of the last month of 2022. That this is unfolding against the drag of higher interest rates sends a powerful message of what lies ahead for the market. Admittedly, there were just 41 listed companies on the exchange at the start of 2022 compared with 47 in 2023, which is a nearly 15 percent increase, and is running well ahead of the last month of 2022. That the increased trading is happening against the drag of higher interest rates sends a powerful message of what lies ahead for the market—the clearest indicator of a booming tourism industry.
The surest sign that prices are heading higher for the Junior Market is that it currently trades around a PE of 13 based on 2022/23 earnings at the end of 2022, with the top 15 stocks representing 32 percent of the market, with PEsfrom 15 to 35, averaging 21, the average based on 2023/4 earnings is a mere 8.6 times.

This is the clearest sign of a boom time in Jamaica’s tourism industry.

Access Financial – EPS projected $2.65 and $4.25 for 2024.
The company suffered a major profit contraction from 2020 to 2022 due to increased loan loss provisions, the write-off of bad loans, and reduced lending. That seems to be behind them, with loans growing again and loan losses reduced.
Profit after Tax of $133 million for the six months ended September 2022, compared to $180 million for the prior period ended September 2021. This performance reflects a 7 percent increase in Operating Revenues in line with a growing loan portfolio. However, this was offset by a 14 percent increase in Operating costs due primarily to increased loan loss and provisions. Loans written off amount to $76 million, up from $58 million in 2021, while provisions fell from $61 million to $54 million.
Revenues for the September quarter from loan interest rose from $419 million to $446 million, but net fees and commission income on loans slipped from $107 million to $103 million and net profit ended at $55 million from $90 million in 2021.
Loans and advances now stand at $4.76 billion for September 2022, an increase of 9 percent year over year and 5.5 percent since March 2022, and reflecting an acceleration in the pace of lending, which augurs well for the second half, with the December quarter being the most critical period for growth.
The expected strong move in the stock price is expected in the latter part of 2024 with a big pick up in profits, investors should note that active selling in the stock is declining and if that continues, investors who want to buy into the stock will have to buy at increasing prices.

AMG Packaging back in ICTOP10

AMG Packaging Projection – EPS 50 cents for 2023
The company can deliver a gain of 350 percent in the stock price over the next 17 months. This is expected to flow from improvement in operations due to the installation of new equipment that became operational in the second quarter of 2022, allowing for greater efficiency and increased business opportunity. The company should benefit from cost reduction in some areas as prices of some inputs have declined since the 2022 results were released and should help improve profitability. With continued economic growth and restoration of the tourism industry, demand for boxes will grow and add to revenue with some cost reduction, as profit is expected to rise.
The fiscal year ended August produced a 41 per cent increase in revenues of $996 million over the 2021 outturn of $706 million with the fourth quarter rising 31 percent from $197 million to $257 million. Profit grew from $61 million in 2021 to $107 million for the 2022 fiscal year. Of note, operating profit for the fourth quarter increased 79 percent to $29.5 million, much faster than revenues—confirmation of input cost reduction also reflected in a decrease in its first quarter of the new year.
Caribbean Assurance Brokers – Projection EPS 30 cents for 2022 and 50 cents for 2023
The company earned a 10 percent increase in revenues of $432 million in the nine months to September 2022 compared to $392 million for 2021. For the third quarter, revenues rose 6 percent to $237 million over $224 million in the 2021 quarter.
Net profit amounted to $105 million for the nine months, while profit for the September quarter was flat with that of 2021 at $100 million. Expenses were well contained at $324 million for the nine months compared with $308 million to September 2021, but costs rose sharply from $121 million in the quarter to $136 million.
The growth trajectory suggests continued improvement in revenues going into 2023 that should contribute to a rise in profit. Recent financials show a picture of steady growth and there are no signs that will change in the short term, Investors will therefore need to understand how to play this stock in the short to medium term.
Caribbean Cream – EPS 2023 is 70 cents, and $1.30 for 2024
The company performed poorly in 2022, but there are signs in the September quarter results that things are on the mend operationally. After reporting good results for 2021 with a profit of $100 million to February, a slight loss was reported for the year to February 2022 as cost far outstripped growth in revenues—a development that the management never fully combatted.
If the company gets its house in order, it could be a stock to be reckoned with in 2023, despite a poor first half year in 2022 with revenues higher but lower profits than in 2021.
Revenues rose 22 percent to $1.25 billion for the half year to September 2022 compared to $1.03 billion in the previous year and by 33 percent for the quarter to $645 million, up from $486 million in 2021. Gross profit came in at $354 million for the half year, slightly down on the $371 million in the previous year, and the quarter raked in $189 million, a 24 percent increase above $153 million in the last year. While recovering some of the increased direct cost, the company is still not fully back to normal in the second quarter but is ahead of the first quarter. They faced increased prices across the board in various areas, with administrative expenses rising 14.5 percent for the half year and  21 percent in the second quarter, which they could not entirely pass on to the general public.
Notably, the second quarter numbers show an improving position over that of the first quarter and one would expect, all things being equal, the performance to carry over into the second half of the year with the final quarter, which covers the Christmas period, being the best and deliver growth in revenues and profits as a result.
The company continues to increase spending on capital expenditure to improve efficiency further. The financials show fixed assets at $1.35 billion from $858 million at the same time in 2021 and is up from $1.1 billion at the end of February 2022 as the company continues to spend to accommodate increased business activities.

Anthony Chang, Managing Director of Consolidated Bakeries

Consolidated Bakeries – EPS forecast 15 cents for 2022 and 55 cents for 2023.
The company reported impressive half year results that suggest a significant improvement in operations from a 35 percent rise in revenues. The third quarter showed continued strong growth in revenues of 21.5 percent. But that was inadequate to cover costs and resulted in a slight loss of $14.5 million in that period as distribution expenses surged $21 million over the previous year, wiping out more than an $11 million increase in gross profit. The company also suffered a reduction in gross margin in the September quarter, thus compounding the negative effect of increased costs. The December quarter usually delivers greater revenues than the September quarter and is expected to be profitable. With all the improvement in 2022, it is 2023 that should see marked improvement with a broader product range and strong growth in tourism and the local economy. In addition, some of the constraints in 2022 have started to dissipate with improved shipping and reduced cost from the Far East, which should help reduce costs in some areas of the company’s operations.

Dolphin Cove.

Dolphin Cove – EPS is projected at $2.30 for 2022 and $3.50 for 2023.
With the bulk of its income coming directly from the tourism industry, 2023 is going to be an excellent year for the company as the industry bounces back to normal levels that should see growth over 2019., the last full year of normalcy, and jump significantly over the first half of 2022 when the sector had 22 percent less stop over arrivals than in the same period for 2019. Visitor arrivals were up over 2019 in the latter part of 2022, suggesting a likely solid 53 percent jump in arrivals in the 2023 first quarter over that for 2022. The second quarter could equate to a 15 percent increase over the 2022 period and  will profoundly impact revenues for the company.
The company stated in their third quarter results that they “ended the third quarter of the year with record financial results, with US$3.9 million in revenue, US$1.6 million more year over year and US$600,000 or 17 percent more, when compared to Q3-2019, which was the year before the pandemic. The flow of visitors to our parks has increased through the year – in Q3-2022, we welcomed double the number of guests in our parks than in Q3-2021 and 25 percent more than in Q3-2019. This is the second quarter with better attendance levels than in pre-pandemic times.”
Elite Diagnostic – EPS is projected at 50 cents for 2023 and $1 for 2024 for the September quarter; revenue increased $47 million from $141 million in the prior year to $188 million. Net profit for the quarter was $5.8 million compared to a loss of $515,000, an improvement of 1,229 percent over the corresponding period in the prior year, but would have been far greater except for increased cost to repair machines and downtime resulting in loss of revenues.
“We continue to record increased revenues in most areas which had significantly declined during the height of the Covid-19 pandemic. However, unforeseen machine downtime during the period under review has negatively impacted our budgetary projections.” The company estimated a shortfall of $25 million in gross revenues due to extensive down time during August and September.
Despite the revenue loss, the latest quarterly results show growth of $176 million over the June quarter, a visible company trend for some years.
The company reported that a branch is slated for Montego Bay in late 2023. The 2023/24 fiscal year could be the breakout for the stock as profits continue to climb upward.
Everything Fresh – EPS is projected at $2.30 for 2022 and $3.50 for 2023
The stock could gain 170 percent in price. The company that sells most of the goods to the tourism sector came off three years of significant losses. Some of which occurred because of the disastrous acquisition by the company. The COVID-19 pandemic impacted the company negatively as the tourism sector was shuttered and only started to come back seriously in 2021 and more so in 2022. This is not the only negative impact the company has overcome in improving the results in 2022. Investors should see even growth over 2019, which was the best period before the pandemic for the sector.
For the nine months to September, revenues jumped 76 percent from $1.079 billion to $1.9 billion and generated a profit of $41 million from a loss of $24 million in 2021. The third quarter recorded revenues of $630 million, a 29 percent increase over $495 million in 2021, and delivered a profit of $9 million from $3.5 million in 2021. Profit for 2022 should end up around 10 cents per share and 35 cents in 2023, with the rebound in the tourism sector giving above average push on revenues. The company benefitted from the bounce in the tourism trade, with much more to come in 2023, as the first quarter will see a big jump in visitor arrivals over 2019 and 2022.

General Accident spreading wings

General Accident Insurance – EPS is projected at 70 cents for 2022 and $1.20 for 2023
For the nine months to September 2022, the company delivered after tax profit of $277 million with the Jamaican operation of General Accident writing premiums of $12 billion and contributing profit before Tax of $297 million. The Trinidad subsidiary registered premiums of $654 million, a 45 percent increase over the $451 million written for the prior year. The Barbados subsidiary wrote premiums of $291 million compared to $214 million for the preceding year. But the company expects the two subsidiaries to be in the black in 2022 and move into profit in 2023.
Investment income for the nine months ended September 2022 was $250 million compared to $148 million in the prior year. Notably, with interest rates trending upwards, there will be increases in consolidated investment income over the short to medium term.
Despite some concerns about the ability to get adequate reinsurance coverage, indications are that General Accident is in a healthy position and is poised to continue to do well and will record increased profits in 2022 and 2023 as operations in Barbados and Trinidad moved from a significant loss in 2021 to profit in 2022. In addition, the stock is an excellent one to hold for long-term investment purposes to benefit from continuous growth and high dividend payments.
Honey Bun – projected EPS of $1 per share for the 2023 fiscal year and $1.85 for 2024
Profit performance for the financial year to September was disappointing, with revenues surging sharply higher but increased cost eroded the revenue gains. It resulted in a mild reduction in profit for the year.
There are developments in the broader world economy that are set to result in cost reduction in some areas in 2023 that should contain cost increases and thus help deliver increased profit for the year.
For the year to August, revenues rose to $2.95 billion from $2.15 billion in 2021 and delivered a profit of $203 million, down from $219 million after taxation of $51 million and $72 million, respectively, and generated earnings per share of 43 cents versus 46 cents in 2021.
The most recent results ended a four-year run of increased profits, as cost pressure negated an impressive 38 percent surge in sales, but revenue growth pales in comparison to a 59 percent jump in raw material cost for the year, amongst other items reflecting major cost movements.
Gross profit margin fell from 48 percent over the last three years to 40 percent, but a combination of price adjustments and reduction in raw material cost should result in an improvement in the 2023 fiscal year. Raw material accounted for 29 percent of sales in 2021 but surged to 37 percent in the latest year, which will most likely be reversed in 2023. Selling and distribution costs rose 17 percent to $408 million from $348 million in the prior year. Administrative expenses jumped 32 percent to $531 million from $402 million in 2021. Depreciation jumped 25 percent to $91 million from $73 million. Staff costs rose 33 percent to $662 million, of which increased employment accounted for a portion as the number of employed persons climbed 7 percent from 219 to 235.
Lasco Distributors’ EPS is projected at 50 cents for fiscal 2023 and 65 cents for 2024
Increasing revenues by 11 percent to $12.9 billion, improving gross margin that rose more than revenues with a growth of 16 percent and cost containment, delivered a 20 percent increase in after tax profits for the nine months to September 2022. This growth should pick up steam in the second half as revenues and profit after Tax climbed faster in the second quarter of the current fiscal year than in the first by 13.5 percent and 33 percent, respectively. The gross profit margin in the second quarter came in at 17.4 percent versus 16.35 percent in 2021. With the Jamaican economy continuing to record growth above forecast with more to come, Lasco is positioned to take advantage of that.
The company lost its appeal against Pfizer and the legal bills for the defendant will have to be met by Lasco, which may not have been provided for in the half year results. This could weigh down profit in the third quarter, but the effects will be behind them for the 2024 results.
Lasco Financial – EPS is projected at 50 cents for fiscal 2023 and 90 cents for 2024
Revenues rose 12.5 percent to $623 million for the second quarter of 2022 from $554 million in 2021. According to the company, “the increase in income is largely due to the general increase in business transactions. Profit for the three months also exceeds 2021-2022 by $24.7 million, closing at $154 million. Revenues for the six months amount to $1.19 billion, an increase of just 3.7 percent increase over the prior year. For the six months under review, total expenses increased by 5 percent from $857 million to $900 million. The company stated that the administrative expenses increased in line with the expansion of services and growth.”
Profit after Tax for the six months rose 17 percent to $157 million, over $134 million generated in 2021, while the quarter ended at $74 million, 26 percent above the $59 million in 2021.
With the December quarter being one of their biggest for revenues and profit, they should enjoy a bounce in the final quarter of 2022. Although not cast in stone, performance for the current fiscal year is well indicated from the results to date; as such, the next fiscal year is all important.

Lasco Manufacturing – EPS is projected at 60 cents for fiscal 2023 and 80 cents for 2024
After languishing in the doldrums for three years, the company reminded investors that they are not dead and are roaring back to deliver decent growth in revenues and profit for the current fiscal year and into the next. ICI nsider.com expects that the stock that traded as high as $6 in 2021 will surpass this level sooner than later and deliver a handsome gain.
Profit growth accelerated 23 percent for the three months to September to $469 million from $380 million in 2021 and from a rise of 13 percent in the six months to September 2021 from $782 million to $883 million in 2022. Gross profit margin fell in the first quarter to 34 percent but rebounded to 37 percent in the second quarter, bringing the year to date margin to 36 percent compared to 37 percent the previous year, suggesting importantly, the company has now restored the margins to 2020 levels.
Revenues also accelerated 22.6 percent in the second quarter to $2.87 billion from $2.33 billion in 2021, from a growth of 17.5 percent for the six months to $5.47 billion from $4.66 billion. Gross profit rose 18.4 percent to $1.07 billion in the quarter from $870 million in 2021 and climbed 15.3 percent to $1.97 billion for the six months compared to $1.71 billion in 2021.
Operating expenses rose 18.5 percent to $378 million in the 2022 September quarter versus $319 million in the comparable quarter in 2021 and 10.75 percent to $690 million for the six months to September 2022 versus $623 million last year.

Paramount Trading logo

Paramount Trading – EPS projected at 35 cents for fiscal 2023 and 50 cents for 2024
The stock can deliver gains of 465 percent over the next 18 months, making it an attractive, undervalued candidate for acquisition with a view of picking up handsome gains.
A classic turnaround case that pushed the stock up 59 percent in 2022, with more to come in 2023 as profit continues to grow.
The company was poorly impacted by the closure of businesses in the country with the advent of the Covid-19 pandemic, resulting in reduced revenues and profit for the 2021 fiscal year. But it enjoyed a 19 percent bounce in revenues in 2022, with profit jumping to $174 million. It followed that up with a 61 percent increase in revenues for the August quarter, with profit growing to $85 million in 2022 from $19 million. Second quarter results show continued improvement in profit from revenues that climbed 50 percent in the November quarter to $601 million and 55 percent for the half year to $1.2 billion ahead of the 2021 period. Profit surged 126 percent to November quarter to $65 million and 212 percent for the half year to $149 million.
The latest two quarterly numbers send a positive message about the likely outcome for the 2023 performance and beyond.
Tropical Battery – EPS projected at 30 cents for fiscal 2023
The total recovery of the tourism industry is set to propel growth in the wider economy above normal levels in 2023, thus providing increased spending that should boost sales and profit for Tropical. The company had an outstanding 2022 fiscal year, with profits soaring 127 percent over 2021 from a 31 percent rise in revenues over 2021 to $2.63 billion from $1.997 billion in 2021. In addition, the company is raising capital to fund an acquisition that should add to income and profit.
ICInsider.com projects earnings of 30 cents per share for 2023, with the price moving towards a $5 to $6 region during the year.

Check out ICInsider.com Stocks to Watch list.

Trading picks up on the Trinidad exchange

Trading picked up on the Trinidad and Tobago Stock Exchange on Friday, with the volume of stocks traded rising 188 percent with the value 74 percent greater than on Thursday resulting in 19 securities trading, up from 13 on Thursday, with six stocks rising, six declining and seven remaining unchanged.
Investors traded 582,263 shares at $2,488,818 up from 202,362 stock units at $1,433,411 on Thursday, for an average of 30,645 units at $130,990 compared to 15,566 shares at $110,262 on Thursday. Trading month to date averages 37,905 shares at $302,872 versus 38,999 units at $328,790 on the previous day. The average trade for December amounts to 42,745 at $474,822.
The Composite Index fell 3.99 points to 1,328.71, the All T&T Index dipped 7.93 points to 1,998.05 and the Cross-Listed Index popped 0.03 points to settle at 85.73.
Investor’s Choice bid-offer indicator shows five stocks ended with a bid higher than their last selling prices and two with lower offers.
At the close, Agostini’s gained $1 in closing at a 52 weeks’ high of $54, with 408 shares clearing the market, Angostura Holdings ended at $23.50 after 60 stock units changed hands, Ansa McAl remained at $51 and closed with an exchange of 61 units. Eppley Caribbean Property Fund advanced 3 cents to close at a 52 weeks’ high of 71 cents with investors swapping 145,000 stocks, First Citizens Group popped 1 cent to $50.01 with an exchange of 381 units, GraceKennedy rose 1 cent to $4.45, with 2,315 stocks crossing the market. Guardian Holdings ended at $27.50 with an exchange of 799 stock units, Guardian Media remained at $2.50, with two shares changing hands, Massy Holdings ended at $4.70 with investors trading 384,598 units. National Enterprises slipped 2 cents to $3.40 after an exchange of 25,003 stocks, National Flour Mills shed 1 cent to end at $1.50 as 2,000 stock units passed through the market, NCB Financial fell 24 cents in closing at $4.51 with a transfer of 1,000 shares. Point Lisas remained at $3.41 with the swapping of 830 units, Prestige Holdings dipped 30 cents to close at $6.70 trading 480 shares, Republic Financial rallied 50 cents to $138 in an exchange of 75 stock units. Scotiabank ended at $78 in trading 1,369 stocks, Trinidad & Tobago NGL increased 20 cents to close at $21.70 in switching ownership of 5,623 stock units, Trinidad Cement dipped 5 cents to end at $3.85 after 2,050 shares were traded and West Indian Tobacco declined 95 cents in closing at $21 in an exchange of 10,209 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Trinidad market falls back

Trading fell back on the Trinidad and Tobago Stock Exchange on Thursday, with the volume of stocks traded declining 84 percent with the value down 61 percent from Wednesday resulting in 13 securities trading compared with 19 on Wednesday, with two stocks rising, five declining and six remaining unchanged.
Investors traded 202,362 shares for $1,433,411 down from 1,291,696 stock units at $3,644,976 on Wednesday. An average of 15,566 units were traded at $110,262 compared to 67,984 shares at $191,841 on Wednesday, with trading month to date averaging 38,999 shares at $328,790 versus 41,695 units at $353,931 on the previous day.  December’s trading averaged 42,745 shares at $474,822.
The Composite Index fell 3.13 points to 1,332.70, the All T&T Index declined 5.71 points to 2,005.98 and the Cross-Listed Index dipped 0.05 points to settle at 85.70.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and one stock with a lower offer.
At the close, Angostura Holdings ended at $23.50 after trading 100 shares, First Citizens Group remained at $50 with an exchange of 1,936 units, FirstCaribbean International Bank ended at $5.60 with 161,400 stocks crossing the market. GraceKennedy remained at $4.44 after finishing trading of 153 stock units, Guardian Media shed 44 cents in closing at a 52 weeks’ low of $2.50 after exchanging 1,293 units, JMMB Group lost 10 cents in closing at $1.95 with the swapping of 3,605 stocks. Massy Holdings remained at $4.70 with investors transferring 8,282 shares, National Enterprises fell 28 cents to end at $3.42 as investors exchanged 4,791 stock units, NCB Financial rose 25 cents in ending at $4.75 passed through the market 9,671 units. Republic Financial declined 50 cents to $137.50 with investors exchanging 577 stocks, Scotiabank popped 68 cents to end at $78 after a transfer of 311 shares, Trinidad & Tobago NGL ended at $21.50, with 9,853 stock units crossing the market and Unilever Caribbean dipped 9 cents in closing at $12.80 in an exchange of 390 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Steady Trinidad Stock Exchange

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Trading activity picked up on the Trinidad and Tobago Stock Exchange on Wednesday, with a 261 percent rise in the volume of stocks traded, with an 89 percent increase in value above that on Tuesday, resulting in trading in 19 securities compared with 20 on Tuesday, with prices of three stocks rising, six declining and ten remaining unchanged.
Investors traded 1,291,696 shares for $3,644,976 up from 357,597 units at $1,924,794 on Tuesday. An average of 67,984 shares were traded at $191,841 compared with 17,880 shares at $96,240 on Tuesday, with trading month to date averaging 41,695 shares at $353,931 versus 36,381 units at $386,694 on the previous day. The average trade for December amounts to 42,745 at $474,822.
The Composite Index dipped 0.92 points to 1,335.83, the All T&T Index rose 3.26 points to 2,011.69 and the Cross-Listed Index slipped 0.76 points to 85.75.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Agostini’s advanced $3 to end at a 52 weeks’ high of $53 after a transfer of 792 shares, Angostura Holdings ended at $23.50 as investors exchanged 883 stock units, Calypso Macro Investment Fund ended at $21 in switching ownership of 248 stocks. First Citizens Group ended at $50 after an exchange of 296 units, FirstCaribbean International Bank fell 10 cents in closing at $5.60, with 19,295 units crossing the market, Guardian Media remained at $2.94 after trading one share. JMMB Group climbed 5 cents in ending at $2.05 and closed, with trading of 1,078,184 stocks, Massy Holdings ended at $4.70 with investors transferring 69,512 stock units, National Enterprises dipped 10 cents to $3.70, with 20,910 shares crossing the market. National Flour Mills shed 3 cents in closing at $1.51 with the swapping of 500 units, NCB Financial dipped 1 cent to $4.50 while exchanging 5,216 stocks, One Caribbean Media dropped 30 cents in closing at a 52 weeks’ low of $3 in trading 100 stock units. Point Lisas remained at $3.41 after an exchange of 300 stock units, Prestige Holdings rose 1 cent to $7 with a transfer of 67,894 shares, Republic Financial remained at $138 in an exchange of 115 stocks. Scotiabank declined 68 cents after ending at $77.32 as 2,464 units passed through the market, Trinidad & Tobago NGL ended at $21.50 with 7,786 units clearing the market, Trinidad Cement ended at $3.90 with an exchange of 17,000 stock units and West Indian Tobacco remained at $21.95, with 200 shares changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Trinidad stocks in positive territory for 2023

Trading picked up on the Trinidad and Tobago Stock Exchange on Tuesday, leading the market indices to rise and pushing the market into a positive position for the year to date after a 416 percent rise in the volume of stocks traded and a 121 percent increase in value over Monday, resulting in 20 securities trading up from 13 on Monday, with prices of ten stocks rising, five declining and five remaining unchanged.
Investors traded 357,597 shares for $1,924,794, down from 69,361 stock units at $869,380 on Monday. An average of 17,880 units were traded at $96,240 compared to 5,335 shares at $66,875 on Monday, with trading month to date averaging 36,381 shares at $386,694 versus 41,382 units at $465,195 on the previous day. The average trade for December amounts to 42,745 at $474,822.
The Composite Index gained 5.72 points to close at 1,336.75, the All T&T Index rallied 6.68 points to 2,008.43 and the Cross-Listed Index rose 0.66 points to settle at 86.51.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, Angostura Holdings remained at $23.50 with a transfer of 2,699 shares, Ansa Merchant Bank popped $1 to $45 while exchanging 33 stock units, Calypso Macro Investment Fund ended at $21 with 183 units clearing the market. CinemaOne lost 20 cents in closing at $8 in switching ownership of 102 stocks, First Citizens Group dipped 1 cent to end at $50 in an exchange of 2,347 stock units, FirstCaribbean International Bank rallied 10 cents to $5.70 2,200 stocks changing hands. GraceKennedy climbed 9 cents to close at $4.44 in an exchange of 1,847 units, JMMB Group rose 5 cents to end at $2 after exchanging 19 shares, L.J. Williams B share advanced 5 cents to $2.75 with investors transferring 9,919 stock units. Massy Holdings remained at $4.70 with the swapping of 120,389 units, National Enterprises increased 19 cents in closing at $3.80 with 138,592 shares passing through the market, NCB Financial shed 1 cent to close at $4.51 in trading 34,000 stocks. One Caribbean Media ended at $3.30 as investors exchanged 1,003 shares, Prestige Holdings gained 28 cents ending at $6.99 after an exchange of 35,168 stocks, Republic Financial gained 50 cents to end at $138 in trading 231 stock units. Scotiabank advanced 68 cents to end at $78, with 193 units crossing the market, Trinidad & Tobago NGL dropped 30 cents to $21.50 with an exchange of 5,322 shares, Trinidad Cement ended at $3.90 after an exchange of 400 stock units. Unilever Caribbean popped 9 cents to close at $12.89 after a transfer of 1,291 stocks and West Indian Tobacco dipped 5 cents in closing at $21.95, with 1,659 units crossing the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Sharp drop in trading on T&T Stock Exchange

Trading dropped sharply on Trinidad and Tobago Stock Exchange on Monday, with an 89 percent fall in the volume of stocks exchanged, after the value dived 94 percent below Friday’s outcome, resulting in 13 securities trading compared with 20 on Friday, with one stock rising, four declining and eight remaining unchanged.
Investors traded a mere 69,361 shares for just $869,380 down sharply from 657,504 stock units at $15,259,330 on Friday.
Trading averaged 5,335  shares at $66,875 down from 32,875 units at $762,966 on Friday, with trading month to date averaging 41,382 shares at $465,195 versus 49,064 units at $550,083 on the previous day. December ended with an average trade of 42,745 shares at $474,822.
The Composite Index fell 0.33 points to 1,331.03, the All T&T Index popped 1.99 points to 2,001.75 and the Cross-Listed Index slipped 0.39 points to 85.85.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than their last selling price and none with a lower offer.
At the close, Agostini’s remained at $50 with a transfer of 550 shares, Angostura Holdings ended at $23.50 with an exchange of 1,089 stock units, First Citizens Group closed at $50.01, with 2,029 units crossing the market. GraceKennedy fell 15 cents to end at $4.35 with an exchange of 246 stocks, JMMB Group ended at $1.95 as 4,500 stocks passed through the market, L.J. Williams B share ended at $2.70 after trading 4,000 units. Massy Holdings ended at $4.70 in exchanging 39,420 stock units, National Enterprises popped 2 cents in closing at $3.61, with 10,186 shares changing hands, Point Lisas dipped 9 cents to end at $3.41 in trading 100 stocks. Republic Financial lost $1 to end at $137.50 after finishing trading of 1,817 stock units, Scotiabank dropped 98 cents in closing at $77.32 after exchanging 1,898 units, Trinidad & Tobago NGL ended at $21.80 with 3,279 shares clearing the market and West Indian Tobacco remained at $22, with 247 units crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Rising stocks edged out by those falling

Falling stocks edged out rising ones at the end of market activity on the Trinidad and Tobago Stock Exchange on Friday, with a 62 percent decline in the volume of stocks traded after funds entering the market jumped 90 percent above that on Thursday and resulted in 20 securities trading up from 15 on Thursday and ended with prices of seven rising, eight declining and five remaining unchanged.
Investors traded 657,504 shares for $15,259,330 versus 1,737,000 units at $8,045,167 on Thursday.
An average of 32,875 stock units were traded at $762,967 compared with 115,800 shares at $536,344 on Thursday, with trading month to date averaging 49,064 shares at $550,083 versus 56,960 units at $446,237 on the previous day. The average trade for December was 42,745 at $474,822.
The Composite Index dipped 1.11 points to 1,331.36, the All T&T Index rose 4.48 points to 1,999.76 and the Cross-Listed Index slipped 0.99 points to close at 86.24.
Investor’s Choice bid-offer indicator shows three stocks ending with a bid higher than their last selling prices and one stock with a lower offer.
At the close, Angostura Holdings remained at $23.50 in an exchange of 4,000 shares, Ansa McAl dipped 85 cents to end at $51 with the swapping of 1,084 stocks, Calypso Macro Investment Fund fell 15 cents to $21, with 14 units crossing the market. CinemaOne declined 21 cents to $8.20 in switching ownership of one stock unit, First Citizens Group popped 1 cent to $50.01, with 256,436 stocks clearing the market, FirstCaribbean International Bank dropped 10 cents to $5.60 in exchanging 212,310 stock units. GraceKennedy shed 20 cents to end at $4.50, with 50,107 units crossing the market, Guardian Holdings advanced 35 cents to close at $27.50 with trading in five shares, JMMB Group inched 1 cent higher to $1.95 trading 37,754 shares. L.J. Williams B share gained 35 cents in closing at $2.70 while exchanging 1,000 units, Massy Holdings rose 20 cents to $4.70 as investors exchanged 21,224 stock units, National Enterprises lost 1 cent to end at $3.59 with investors transferring 18,495 stocks. NCB Financial rose 2 cents in closing at $4.52 after an exchange of 5,000 stocks, One Caribbean Media ended at $3.30 with a transfer of 30,320 shares, Prestige Holdings declined 9 cents in ending at $6.71, with an exchange of 4,500 stock units. Scotiabank popped 30 cents to end at $78.30 after 3,343 units changed hands, Trinidad & Tobago NGL dropped $1.20 to close at $21.80, while 4,402 stock units passed through the market, Trinidad Cement ended at $3.90 after a transfer of 3,000 shares. Unilever Caribbean remained at $12.80 with an exchange of two units and West Indian Tobacco remained at $22 in trading 4,507 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Mixed trading results for Trinidad stocks

Market activity ended on the Trinidad and Tobago Stock Exchange on Thursday, with a 237 percent greater volume of stocks traded from a 16 percent fall in value on Wednesday. Similar to  Wednesday 15 securities were exchanged on Thursday, with prices of seven rising, three declining and five remaining unchanged.
Investors traded 1,737,000 shares for $8,045,167 verusus 515,843 stock units at $9,566,308 on Wednesday.
An average of 115,800 shares were traded for $536,344 versus 34,390 units at $637,785 on Wednesday. Trading month to date averaged 56,960 shares at $446,237 compared with 23,015 units at $394,252 on the previous day. The average trade for December amounts to 42,745 shares at $474,822.
The Composite Index rose 6.67 points to 1,332.47, the All T&T Index lost 0.53 points to end at 1,995.28 and the Cross-Listed Index climbed 2.01 points to 87.23.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Agostini’s remained at $50 after 314 shares passed through the exchange,Angostura Holdings gained 40 cents to close at $23.50 after an exchange of six stock units, Ansa McAl advanced 35 cents in closing at $51.85, with 13 stocks changing hands. First Citizens Group dipped 10 cents to end at $50 after a transfer of 1,235 units, FirstCaribbean International Bank rose 55 cents to $5.70 in an exchange of 40 units, GraceKennedy popped 20 cents to $4.70 in trading 46 shares. Guardian Media ended at $2.94 as investors exchanged 50 stocks, JMMB Group popped 3 cents to $1.94 with investors exchanging 10,820 stock units, Massy Holdings declined 10 cents to $4.50, with 1,588,735 stock units changing hands. National Enterprises ended at $3.60 with an exchange of 100,531 units, Prestige Holdings popped 52 cents to $6.80 after an exchange of 21,661 stocks, Republic Financial rallied $2.10 to $138.50 in switching ownership of 201 shares. Trinidad & Tobago NGL lost 21 cents in closing at $23 while 7,539 units passed through the market, Unilever Caribbean remained at $12.80 and finishing with 1,085 stock units changing hands and West Indian Tobacco ended at $22 in trading 4,724 shares.Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

TTSE dips on second trading day of 2023

Stocks prices eased on the second trading day of the new year on the Trinidad and Tobago Stock Exchange on Wednesday, following a 525 percent rise in the volume of stocks traded worth 1,299 percent more than on Tuesday as 15 securities were exchanged compared with 11 on Tuesday, with prices of four stocks rising, seven declining and four remaining unchanged.
Investors traded 515,843 shares for $9,566,779 versus 82,534 stock units at $683,762 on Tuesday.
An average of 34,390 units were traded at $637,754 compared with 7,503 shares at $62,160 on Tuesday, with trading month to date averaging 23,015 shares at $394,213 on the previous day. The average trade for December amounts to 42,745 at $474,822.
The Composite Index fell 8.14 points to 1,325.80 the All T&T Index shed 6.24 points to 1,995.81 and the Cross-Listed Index lost 1.42 points to close at 85.22.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Agostini’s ended at $50 as 2,937 shares passed through the market, Angostura Holdings dropped 60 cents in closing at $23.10 after exchanging 5,000 units, CinemaOne rose 21 cents to $8.41 with 56 stock units crossing the market. First Citizens Group declined $1.90 to $50.10 in switching ownership of 144,465 stocks, GraceKennedy slipped 1 cent to close at $4.50, with 101,190 units crossing the exchange, JMMB Group shed 1 cent in closing at $1.91 with investors transferring 38,308 shares. Massy Holdings gained 10 cents in ending at $4.60 after an exchange of 82,934 stock units, National Enterprises remained at $3.60 with a transfer of 110,404 stocks, National Flour Mills advanced 4 cents to end at $1.54 with an exchange of 1,600 stocks. NCB Financial lost 24 cents to close at $4.50, with 10,300 stock units clearing the market, Prestige Holdings popped 1 cent in closing at $6.28 in an exchange of 9,818 shares, Republic Financial dipped $2.60 to $136.40 and closed with 4,034 units changing hands. Scotiabank dipped 30 cents to close at $78 after a transfer of 90 stocks, Unilever Caribbean ended at $12.80 while exchanging 205 stock units and West Indian Tobacco remained at $22 in trading 4,502 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Stocks start the new year mixed on TTSE

Stocks commenced the new year with slightly mixed results on the first day of trading for the new year on the Trinidad and Tobago Stock Exchange on Tuesday, after the volume of stocks traded declined 89 percent with the value 90 percent lower than on Friday resulting in 11 securities trading down from 17 on Friday, with four stocks rising, two declining and five remaining unchanged.
Investors exchanged just 82,534 shares for $683,762 down sharply from 757,469 stock units at $7,117,065 on Friday. An average of 7,503 units were traded at $62,160 compared to 44,557 shares at $418,651 on Friday. The average trade for December was 42,745 at $474,822.
The Composite Index rose 1.79 points to 1,333.94, the All T&T Index declined 5.75 points to 2,002.05 and the Cross-Listed Index increased 1.38 points to close at 86.64.
Investor’s Choice bid-offer indicator shows seven stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Agostini’s remained at $50 in switching ownership of 100 shares, Angostura Holdings fell 30 cents in ending at $23.70 with a transfer of 75 stock units, First Citizens Group ended at $52 after 1,680 stocks crossed the market. GraceKennedy popped 2 cents to end at $4.51, with 16,017 units clearing the market, Massy Holdings ended at $4.50 with 18,580 stocks trading, National Enterprises added 20 cents to close at $3.60, with16,425 stock units crossing the exchange. NCB Financial rallied 18 cents to end at $4.74 after just one unit passed through the market, One Caribbean Media remained at $3.30 after an exchange of 15,000 shares, Scotiabank ended at $78.30 while exchanging 301 shares. Unilever Caribbean slipped 9 cents in closing at $12.80 after a transfer of 133 units and West Indian Tobacco rose $1 to close at $22 in exchanging 14,222 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.