Guardian Holdings reported lower profit for 2015 of TT$335 million or $1.14 per share compared to TT$341 million or $1.47 per share. While the bottom-line was lower in 2015 profit from continuing operations were higher at $334 million versus $303 million.
Insurance premium income rose to $5.17 billion from $5.03 billion while net profits from insurance activities jumped to TT$662 million from $490 million. Investment income was flat at $772 million but gains from investment securities dropped from $86 million to just $6 million. Expenses were held tightly with operating expenses rising 6.3 percent to $962 million while finance cost rose 8 percent to $141 million.
Guardian has assets of TTS22.18 billion at the end of 2015 with financial assets and loans of $16.624 billion. Borrowed funds amount to $2.15 billion and equity capital ended at $2.73 billion.
The stock last traded on the Trinidad Stock Exchange at $13.80 for a PE just below 10 times earnings. IC Insider considers the stock to be undervalued but with the Trinidad’s economy in recession and with the bulk of Guardian business emanating in that country it will be difficult for revenues to rise in a meaningful manner and deliver consistent increased profits.
Guardian Holdings is primarily involved in the business of life insurance, investments and general insurance with operations throughout the Caribbean. In 2015, National Commercial Bank agreed subject to regulatory approval acquire just under 30 percent of the issued shares from a group of shareholders.
Lower profits at Guardian
Modest gain for JSE on Wednesday
The main market of the Jamaica Stock Exchange rose moderately on Wednesday with declining stocks having the upper hand on advancing stocks with 40 securities changing hands, in all market segments with 14 rising and 18 declining with 3 closing at a 52 week’s highs and one at a 52 weeks’ low.
The market closed with 6,983,295 units valued at $116,071,425 changing hands in all markets. The junior market accounting for 2,476,908 units changed hands, valued at $8,795,980.
The JSE Market Index climbed 313.29 points to end at 153,854.67, the all Jamaica Composite Index jumped 350.11 points to end at 170,897.53 and the JSE combined index lost 59.93 points added, to close at 162,182.52.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading was 10 stocks with bids higher than their last selling prices and 8 with lower offers.
At the end of the market activities, Berger Paints traded 4,000 shares and gained 24 cents to end at $4, Cable & Wireless traded only 75,437 units, to close at $1.30, Caribbean Cement traded with a gain of $1.05 with 24,896 shares to end at $25, Carreras traded 640 shares to end with a loss of 35 cents at $66.15. Grace Kennedy lost 50 cents in closing with 107,459 shares changing hands at $81.50, Jamaica Broilers traded 79,909 units to close with a gain of 27 cents at $14.28, 
JMMB Group traded 335,833 shares to close at $10.95 after gaining 77 cents. Mayberry Investments traded 22,338 shares to end at $4.18 with a loss of 32 cents, National Commercial Bank lost 22 cents with 8,135 shares changing hands to close at $41.03, Sagicor Group rose by 1 cent while 62,297 shares changed hands to end at $23.51, Sagicor X Fund traded 9,547 shares but fell by 50 cents to end at $11. Scotia Group lost 41 cents while trading 176,618 shares to close at $30.39, Sterling Investments fell by 24 cents with 14,500 shares changing hands to end at a 52 weeks’ low of $12.75, Supreme Ventures gained 34 cents to close at $5, with 120,462 units changing hands and Proven Investments ordinary share lost 3 cents, in trading 3,451,022 units to end at 18 US cents.
Sharp rise for JSE on Tuesday
The main market of the Jamaica Stock Exchange rose sharply on Tuesday when advancing stocks turned the tables on declining stocks by a wide margin as 40 securities changed hands, in all market segments. There were 20 rising stocks and 11 declining with 2 closing at a 52 week’s high and one at a 52 weeks’ low.
The market closed with 3,198,699 units valued at $63,673,032 changing hands in all markets. The junior market accounting for 832,933 units changing hands, valued at $4,034,146.
The JSE Market Index climbed 1,458.73 points to end at 153,541.38, the all Jamaica Composite Index jumped 1,630.19 points to end at 170,547.42 and the JSE combined index had 1,848.35 points added, to close at 162,242.45.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading was 9 stocks with bids higher than their last selling prices and 6 with lower offers.
At the end of the market activities, Berger Paints traded 9,000 shares and gained 1 cent to end at $3.76, Cable & Wireless traded only 14,659 units, to close with a gain of 10 cents at $1.30, Caribbean Cement traded with a gain of 95 cents with 28,374 shares to end at $23.95, Carreras traded 131,575 shares to end at $66.50. Grace Kennedy lost 50 cents in closing with 1,551 shares changing hands at $82, Jamaica Broilers traded 45,199 units to close with a gain of 1 cent at $14.01,
JMMB Group traded 5,850 shares to close at $10.18 after gaining 18 cents. Mayberry Investments traded 10,090 shares to end at $4.50 with a gain of 30 cents, National Commercial Bank rose by 22 cents with 9,978 shares changing hands to close at $41.25, Sagicor Group rose 45 cents while 1,406,202 shares changed hands to end at $23.50, Sagicor X Fund traded 4,221 shares to gain 50 cents and end at $11.50. Scotia Group rose 41 cents while trading 4,568 shares to close at $30.80, Seprod gained 15 cents with 4,000 shares changing hands, to end at $16, Supreme Ventures lost 34 cents to close at $4.66 with 6,000 units changing hands, Proven Investments ordinary share traded 616,313 units at 20.99 US cents, up from 20.95 US cents at Friday’s close and 73,667 Proven Investments 8% preference share traded 42,000 units to end at $5.
Sharp drop for JSE on Thursday
Sagicor Group traded 16.7m shares
For the overall market, 35 securities changed hands, in all market segments with 11 rising and 14 declining. The market closed with 32,237,793 units valued at $456,983,872
changing hands in all markets. The junior market accounting for 8,572,910 units changing hands, valued at $32,754,372.
The JSE Market Index shed 1,535.93 points to end at 152,082.65, the all Jamaica Composite Index dived 1,716.47 points to end at 168,917.23 and the JSE combined index had 1,668.49 points chop, to close at 160,394.10.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading was 7 stocks with bids higher than their last selling prices and 7 with lower offers, an indication of fluidity in price movements but with a bias for declining stocks to have the upper hand when trading resumes after the long holiday week end.At the end of the market activities, Cable & Wireless traded 22,200 units, to close with a loss of 10 cents at $1.20, Carreras rose by 80 cents in trading 5,268 shares to end at $66.50. Grace Kennedy gained 50 cents in closing with 7,000 shares changing hands at $82.50,
Jamaica Broilers traded 54,394 units to close with a gain of 80 cents at $14, JMMB traded 427,342 shares to close at $10 after falling by 20 cents. Mayberry Investments traded 26,016 shares to end at $4.20 but lost 25 cents, National Commercial Bank rose by 3 cents with 18,868 shares changing hands to close at $41.03, Pan Jamaican gained $1 in trading 62,670 units at $94, Sagicor Group dropped 95 cents while 16,736,871 shares changed hands. Scotia Group lost 11 cents while trading 20,144 shares to close at $30.39 Seprod dropped $2.65 with 72,250 shares changing hands to end at $15.85, Supreme Ventures gained 1 cent to close at $5 with 6,523,950 units changing hands and 73,667 preference shares of JMMB Group 7.5% traded to end at $2.15.
Gains for JSE on Wednesday
Sagicor Group HQ – the stock closed at anew high on Wednesday
For the overall market, 35 securities changed hands, in all market segments with 8 rising and 14 declining. The market closed with 6,441,586 units valued at $51,085,753 changing hands in all markets. The junior market accounted for 157,151 units changed hands, valued at only $774,391.
The JSE Market Index shed 428.48 points to end at 153,150.85, the all Jamaica Composite Index lost 478.85 points to end at 170,111.01 and the JSE combined index fell 530.26 points to close at 161,848.77.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading was 7 stocks with bids higher than their last selling prices and 8 with lower offers.At the end of the market activities, Berger traded 35,604 units and gained 23 cents to end at $3.75, Cable & Wireless traded 611,101 units, to close with a loss of 5 cents at $1.30, Caribbean Cement ended at $23 with 12,539 shares trading, Carreras lost 30 cents in trading 1,100 shares to end at $65.70. Grace Kennedy closed with 42,388 shares changing hands at $82,Jamaica Broilers traded 26,235 units to close at $13.20, Kingston Wharves traded 41,719 shares to close at $11.50 after rising by 5 cents.
Mayberry Investments traded 9,391 shares to end at $4.45, National Commercial Bank had 187,106 shares changing hands to close at $41, Pan Jamaican traded 15,039 units at $93, Sagicor Group gained 40 cents while 816,999 shares changed hands to close at new 52 weeks’ closing high of $24. Scotia Group lost 40 cents while trading 245,381 shares to close at $30.50. Scotia Investments put on $2.49 with 2,000 shares changing hands to end at $29.49, Supreme Ventures closed with a fall of 1 cent at $4.99 with 334,200 units changing hands. Proven Investments ordinary share traded 44,050 to close at 20.95 US cents, JMMB 5.75% preference share traded 2,400,000 units at $1.06 after losing 14 cents and 1,421,333 preference shares of JMMB Group 7.5% traded to end at $2.15.
No end in sight for TTSE slide
Massy trades at a new low on Wednesday
The market closed with the Composite Index declined by 5.30 points to close at 1,130.15, the All T&T Index fell by 10.53 points to close at 1,805.98 and the Cross Listed Index remained at 60.35.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 5 stocks with the bid higher than the last selling price and 7 with offers that were lower. More telling is the fact that about a third of the listings have no bids to buy, a clear sign of a weakness.
Gains| Unilever Caribbean gained 1 cent to close at $66 with 48 shares trading and West Indian Tobacco traded 350 shares and gained 1 cent in ending at $126.28.
Losses| Agostini’s traded 1,000 shares at $17.02 with a fall of 2 cent in trading at $17.01, Clico Investments Fund ended with a volume of 23,885 shares valued at $538,607 to end with a gain of 1 cent at $22.55, Guardian Holdings ended trading 10,703 shares but declined by 15 cents to close at $13.80. Massy Holdings ended with 72,398 shares valued at $3,981,164 changing hands as the price dropped $1.01 to end at a 52 weeks’ low of $54.98,
National Enterprises closed with 7,388 shares changing hands at a 52 weeks’ low of $9 after falling by 49 cents. Republic Financial Holdings dropped 1 cent to close at $111.99 with 150 shares changing hands and Scotiabank closed with 392 shares changing hands with a loss of 6 cents to end at a 52 weeks’ low of $57.43.Firm Trades| Firstcaribbean International Bank closed at $6.50 with 114,000 units valued at $741,000 changing hands and National Commercial Bank traded 43,862 shares to end at $2.40.
Losses for JSE on Tuesday
The main market of the Jamaica Stock Exchange suffered losses on Tuesday, as declining stocks beat out advancing stocks. Indications continue to show weakness in the overall market. The number of stocks participating is down to lower levels compared to more recent trading and with the IC Indicator reflecting a weak signal.
For the overall market, 35 securities changed hands, in all market segments with 10 rising and 15 declining. The market closed with 3,907,504 units valued at $73,631,745 changing hands in all markets. The junior market accounted for 934,404 units changing hands, valued at $3,657,423.
The JSE Market Index shed 428.48 points to end at 153,150.85, the 
all Jamaica Composite Index lost 478.85 points to end at 170,111.01 and the JSE combined index fell 530.26 points to close at 161,848.77.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading was 6 stocks with bids higher than their last selling prices and 11 with lower offers.
At the end of the market activities, Cable & Wireless traded 263,169 units to close with a loss of 4 cents at $1.35, Caribbean Cement ended at $23 with 10,000 shares trading, after rising 35 cents, Carreras gained $1 in trading 123,177 shares to end at $66, Desnoes and Geddes traded 4,074 at $24. Gleaner traded 1,834 shares at $2.09 essentially at the same price as before the media segment was taken over by Radio Jamaica. Grace Kennedy closed with 6,249 shares changing hands at $82, Jamaica Broilers dropped 80 cents in trading 12,999 units to close at $13.20, 
Jamaica Producers closed with a loss of $3 at $30 while trading only 2,000 shares, Jamaica Stock Exchange dropped $1.90 in trading 17,993 units to close at $21, Kingston Wharves traded 7,400 shares to close at $11.45. Mayberry Investments traded 40,000 shares to end at $4.45, National Commercial Bank lost 3 cents with 200,254 shares changing hands to close at $41, Sagicor Group fell 14 cents with 2,146,337 shares changing hands to close at $23.60, Scotia Group traded 7,781 shares to close at $30.90. Scotia Investments lost $2.40 with 4,750 shares changing hands to end at $27, Supreme Ventures closed with a rise of 50 cents at $5 with 34,223 units changing hands and JMMB 5.75% preference share traded 40,972 units at $1.20 and 39,116 preference share of JMMB Group 7.5% traded to end at $2.15.
Gains for JSE on Monday
Sagicor Group closed at a 52 weeks’ high on Monday
For the overall market, 32 securities changed hands, in all market segments with 11 rising and 10 declining while 1 closed at a 52 weeks’ closing high and one at an intraday record high. The market closed with 4,459,879 units valued at $105,773,180 changing hands in all markets. The junior market accounted for 935,672 units changing hands, valued at $3,901,047.
The JSE Market Index garnered 498.31 points to end at 153,581.38, the all Jamaica Composite Index added 556.89 points to end at 170,592.15 and the JSE combined index gained 199.09 points to close at 162,360.97.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading was 8 stocks with bids higher than their last selling prices and 9 with lower offers. At the end of the market activities, Cable & Wireless traded 239,100 units to close with a gain of 2 cents at $1.39, Caribbean Cement ended at $22.65 with just 2,246 shares trading, after declining by 65 cents, Carreras traded 4,806 shares to end at $65, Gleaner closed at $2.09 with 105,736 shares changing hands. Grace Kennedy closed with 176,230 shares trading with a loss of 99 cents at $82, still well below the $97 equivalent, it last traded at in Trinidad. Jamaica Broilers declined by 9 cents in trading 5,375 units to close at $14, Jamaica Producers closed with a gain of $2 at $33 while trading 1,264,675 shares, down from 2,261,978 units traded on Friday. Jamaica Stock Exchange rose by 90 cents in trading 25,254 units to close at $22.90, JMMB Group had 7,596 units changing hands but rose 30 cents in closing at $10.30, Kingston Wharves traded 1,000 shares to close at $11.45, Mayberry Investments traded 20,680 shares to end at $4.45.
National Commercial Bank gained $1.03 with 330,105 shares changing hands to close at $41.03, Pan Jamaican investment fell 2 cents to close at $93 with 48,996 shares, Proven Investments ordinary share traded 138,420 units at 21 US cents. Sagicor Group gained 74 cents with 935,313 shares changing hands to close at a 52 weeks’ closing high of $23.74, Sagicor Real Estate Fund traded 2,000 shares to close at $10.90, Scotia Group gained 39 cents with 69,377 shares changing hands to close at $30.90. Seprod traded 30,000 shares to close at $18.51, Supreme Ventures closed with a loss of 50 cents at $4.50 with 81,308 units changing hands and JMMB Group 7.5% preference share traded 35,990 units but recovered 5 cents to end at $2.15.
TTSE falters again – Monday
The slide on the Trinidad & Tobago Stock Exchange continued on Monday as trading ended with 170,815 shares valued at $1,057,665 changing hands. A total of 10 securities traded with 3 falling, 2 gaining while 5 remained unchanged. One stock closed at a 52 weeks’ low.
The market closed with the Composite Index declined by 3.87 points to close at 1,138.76, the All T&T Index fell by 7.34 points to close at 1,824.12 and is down by 6.3 percent since the start of the year and the Cross Listed Index declined by 0.04 points to 60.21.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 5 stocks with the bid higher than the last selling price and 7 with offers that were lower. More telling is the fact that about a third of the listings have no bids to buy.
Gains| Guardian Holdings ended trading just 100 shares but rose 10 cents to close at $13.80 and Trinidad and Tobago NGL ended trading 5,705 shares, but rose 1 cent to end at $19.06.
Losses| JMMB Group contributed 7,164 shares valued but lost 2 cents in closing at 57 cents, National Enterprises closed with 11,640 shares changing hands at to close at a 52 weeks’ low of $10 after falling by 50 cents 
and West Indian Tobacco traded 829 share but lost 2 cents in ending at $126.28.
Firm Trades| Ansa Merchant Bank traded 1,028 units at $38.95, Clico Investments Fund ended with a volume of 12,700 shares to end at $22.55, Firstcaribbean International Bank closed at $6.50 with only 2,516 units changing hands. Grace Kennedy traded 53,773 shares to end at $5.20 and National Commercial Bank traded 86,000 shares at $2.40.
More gains for JSE – Friday
Jamaica Producers traded 2.26m shares
on Friday.
The JSE Market Index recovered 473.06 points to end at 153,083.07, the all Jamaica Composite Index added 528.67 points to end at 170,035.26 and the JSE combined index gained 380.86 points to close at 162,181.88.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading was 10 stocks with bids higher than their last selling prices and 6 with lower offers.
At the end of the market activities, Cable & Wireless traded 106,517 units to close at $1.37, Caribbean Cement ended at $23.50 with 109,949 shares trading, after gaining $1, Carreras traded 38,075 shares and rose by $1 to $65, Desnoes and Geddes traded 14,000 shares but lost 73 cents to close at $24. Gleaner lost 1 cent and closed at $2.09 with 181,862 shares changing hands. Grace Kennedy closed with 29,093 shares trading with a loss of 1 cent at $82.99, well below the $97 equivalent, it last traded at in Trinidad. Jamaica Broilers traded 389,818 units to close at $14.09, Jamaica Producers traded 2,261,978 units to close with a gain of 72 cents at $31, Jamaica Stock Exchange fell 45 cents in trading 11,784 units to close at $22, JMMB Group had 129,188 units changing hands but fell 5 cents in closing at $10. Kingston Wharves traded 3,366 shares to close with a loss of 5 cents at $11.45, Mayberry Investments traded 41,168 shares but rose 25 cents to end at $4.45.
National Commercial Bank with 833,006 shares changing hands, closed 10 cents higher at $40, Pan Jamaican investment fell $1.98 to close at $93.02 with 6,096 shares, Proven Investments ordinary share traded 9,000 units and gained 1 US cent in closing at 21 US cents, Radio Jamaica ended with 27,747 units changing hands for 24 cents higher to close at $4.99. Sagicor Group gained 48 cents with 684,972 shares changing hands at $23, Sagicor Real Estate Fund traded 9,100 shares and rose 90 cents to close at $10.90, Scotia Group had 33,980 shares changing hands to close at $30.51 after rising 1 cent. Seprod traded 57,544 shares and fell 69 cents to close at $18.51, Supreme Ventures closed with a loss of 5 cents at $5 with 11,600 units changing hands and JMMB 7.5% preference share traded 50,000 units but lost 5 cents to end at $2.10.