Trading on the Trinidad Stock Exchange closed the week with 11 securities changing hands, of which 2 advanced, only 1 declined and 8 traded firm with a total of 215,713 units, valued at $2,278,896.
At the close of the market, the Composite Index lost 0.04 points to close at 1,146.02, the All T&T Index fell by 0.08 points to close at 1,964.35 and the Cross Listed Index remained at 42.94.
Gains| Stocks increasing in price at the close are, Clico Investment Fund with 26,301 shares valued at $581,487 and advanced by 1 cent to $22.11 and Scotiabank contributed 9,586 shares with a value of $557,018, increasing 5 cents to end the day at $58.12, as the stock continues to make a slow recovery from the sharp fall it has suffered since end of May.
Declines| The only stock declining at the end of trading, is Republic Bank, with 300 shares at $120.72, as the price slipped a cent.
Firm Trades| Stocks closing with prices unchanged, at the end of trading are, First Citizens Bank which traded 1,610 shares, to close at $36.75, Grace Kennedy closed with 740 shares at $3.85, Guardian Holdings with a volume of 13,995 shares traded for $189,662, closed at $13.55, while Massy Holdings added 7,894 shares valued at $541,134 to close at $68.55, National Enterprises closed with 100 units at $17.49, Point Lisas Industrial Port had 490 units trading at $4.05, Trinidad Cement with 154,497 shares changing hands, for a value of $307,449.03, closed at $1.99 and L.J. Williams B traded 200 shares at 90 cents.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 1 stock with the bid higher than the last selling price and 3 stocks with offers that were lower.
Scotiabank making slow recovery on TTSE
One Caribbean jumps to $25 – a hold
One Caribbean is no longer a recommended Buy Rated currently based on the jump to $25 per share this week, but seems to be a hold based on the reading of the Trinidad Stock market where it looks as if it should rise some more.
Since July 5 last year when IC Insider gave the stock in the Buy Rated category it has moved up 43 percent and now enjoys a PE ratio of 17.7 compared with 12.6 last year July.
Elsewhere Trinidad Cement slipped to $1.90 making it more attractive, even as there is talk of major changes in directorship. Massy Group continues its slow gain as well as Republic Bank but they as well as a number of others remain attractively priced for good gains in the period ahead as they are undervalued.
Why PE?| The price earnings ratio is the most popular measure investors use to compare and determine stocks values. It is computed by dividing the price of a stock by the earnings per share. It allows investors to compare the value of one company with others, in order to determine which ones are to be bought, sold or held. When the market moves markedly away from the norm it is usually time for investors to move, the PE ratio is a good tool to measure such extremes.
In looking at good buying opportunities the crude measure is to buy those stocks with low PEs compared to the market or to stocks in the same sector.
