Market activity ended with just 8 securities trading on the Trinidad & Tobago Stock Exchange on Tuesday against 14 on Monday, with 1 stock advancing, 2 declining and 5 remaining unchanged at the close.
At close, the Composite Index fell 0.43 points on to 1,268.31. The All T&T Index slipped 0.85 points higher to 1,704.58, while the Cross Listed Index remained unchanged at 112.27.
Trading ended with 107,817 shares valued at $2,343,695 changing hands, compared to 214,436 shares valued at $6,392,055 on Monday.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 2 stocks ended with bids higher than their last selling prices and 5 with lower offers.
Gains| Unilever Caribbean rose 5 cents and finished with $27.05,trading 1,000 units.
Losses| First Citizens Bank finished 2 cents lower to $32, in trading 3,632 shares and Massy shed 10 cents and finished at $48, trading 2,818 shares.
Firm Traded| Clico Investments concluded trading at $21, with 52,611 units valued at $1,104,831 changing hands, JMMB Group ended trading with 2,312 shares at $1.65, National Enterprises closed at $9.79, with 5,525 stock units trading, NCB Financial Group ended at $6.75, with 7,060 units trading, while Trinidad & Tobago NGL price closed at $26.20, trading 32,859 shares with a value of $854,705.
Prices of securities trading for the day are those at which the last trade took place.
1 Stock rise 2 fall on TTSE – Tuesday
NCB locked up Guardian from 2016
NCB Financial Group locked up the majority ownership in Guardian Holdings from as far back as May 2016, when they acquired 29.99 percent of the group’s shares, the maximum they could acquire without triggering a take bid clause that would require them to make an offer for all of the issued shares.
Funding the full offer, would have been a problem at the time and NCBFG would need Bank of Jamaica approval to do so which might not have been granted at that time. According to the offer document from the NCB Group to acquire up to 62 percent of the shares, “in May 2016 NCBFG acquired the entities which held the offeror’s shares from affiliates of Arthur Lok Jack, Imitaz Ahamad and International Finance Corporation. Pursuant to such transaction, Arthur Lok Jack, Imitaz Ahamad and their respective holding companies agreed that they would tender their respective shares in GHL to NCBFG upon NCBFG making a tender offer to all Guardian shareholders.”
Shares held by the two sellers are close to 22 percent of the issued shares of the Guardian Group which will be enough for NCB group to hold the majority of at least 32 percent. The price of US$2.35 is below the price the stock trades in Trinidad at, as such is not expected that many shareholders other than those mentioned above and a few other will be tendering shares.
New listings dominate trading – Monday
VM Investments continues with high volume trades.
Newly listed, Victoria Mutual Investments and Wisynco Group, continue to dominate trading with the highest volume, accounting for 5.1 million of the 7.4 million units trading on Monday.
Market activity ended with 7,415,575 units valued at $202,124,322 trading from 28 securities changing hands, compared to 8,660,030 units.
At the close of trading on Monday the JSE All Jamaican Composite Index shed 1,847.64 points to 314,455.19 and the JSE Index fell 1,683.41 points to 286,504.23.
In the main market activity, Barita Investments concluded trading with a rise of 64 cents to $8.59, with just 100 units trading, Berger Paints finished with a loss of 20 cents at $17.80, with 10,610 shares, 
Cable & Wireless settled with a loss of 8 cents at $1.31, with 93,684 shares, Caribbean Cement ended trading $1.62 higher at $33.62, with 1,735 stock units. Carreras traded 3 cents higher at $11.43, with 67,864 units, Grace Kennedy closed with a loss of 45 cents at $43, with 17,243 shares, Jamaica Broilers ended at $18, with 22,947 stock units, Jamaica Producers concluded trading at $16.50, with 2,808 units. Jamaica Stock Exchange finished at $7, with 13,387 shares, JMMB Group settled with a loss of 65 cents at $24.35, with 54,386 shares, Kingston Wharves traded with a loss of 99 cents at $33, with 5,278 units, Mayberry Investments finished trading 69 cents higher at $6.79, with 36,270 shares. NCB Financial Group closed 10 cents higher at $99, with 1,500,810 shares, 1834 Investments ended 13 cents higher at $1.41, with 900 stock units, PanJam Investment concluded trading with a loss of $2 at $40, with 190,150 units, Pulse Investments settled with a loss of 9 cents at $2.10, with 56,090 shares, Radio Jamaica ended trading 5 cents higher at $1.10, with 100 stock units. 
Sagicor Group traded with a loss of 10 cents at $34.65, with 29,983 units, Sagicor Real Estate finished trading with a loss of 50 cents at $14.50, with 2,012 shares, Salada Foods closed at $11, with 34,000 shares, Scotia Group gained $1 to end at $53, with 12,970 stock units. Seprod concluded trading with a loss of $1 at $30, with 10,900 units, Supreme Ventures settled at $12, with 125,715 shares, VM Investments ended trading with a loss of 7 cents at $4, with 2,401,456 stock units and Wisynco Group traded with a loss of 41 cents at $10.39, with 2,722,139 units as investors continue to pocket gains from the IPO price.
In the main market preference segment, Jamaica Money Market Brokers 7.25% traded 100 units at $2.49, Jamaica Money Market Brokers 7.5% traded 1,838 units and rose 20 cents to close at $2 and JMMB Group 7.5% traded 100 units to close at $1.16.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “JSE major indices drop sharply – Monday.”
NCB has Guardian in the bag
NCB Financial offer to acquire up 62 percent of Guardian Holdings is assured to receive offers that will take them over the 50 percent mark to 52 percent.
Two directors have confirmed to the company’s board with just over 21 percent of the shares state that they have or intend to accept the offer that closes on January 12.
According to the Guardian directors in their comments on the offer, “as at the present time, after reasonable enquiry, the following Directors and senior Officers referred have indicated that they have accepted or intend to accept the Offer.”
The directors’ recommendation document shows that, Arthur Lok Jack owns 25,401,926 or 10.95 percent of the group’s shares, Nicholas Lok Jack 30,957 shares, Imtiaz Ahamad owns 30,957 units directly and indirectly 25,216,319 or 10.88 percent and Henry Peter Ganteaume who indicated he intends to tender up to 140,000 shares. NCB Financial Group already owns 29.99 percent and with the above commitment will end up with a least 52 percent of the company and would only require another 10 percent to get them to the level they aim for.
Guardian Holding
The Board has noted that the intention is to create “a truly Pan-Caribbean, diversified financial services conglomerate” and the business strategy underlying same and has concluded that the Offer is in the best interests of the Company, as it should benefit GHL in the following ways: enhanced market access in the Northern Caribbean and elsewhere. Improved access to capital will allow GHL to pursue more vigorously than in the recent past inorganic growth opportunities. Extraction of cost synergies across the group will have a favourable impact upon future profitability.
The directors’ report states that the Offer and Take-Over Bid Circular shows the valuation of the shares performed by Ernst and Young Services Limited ranges between TT$16.99 to TT$19.51 and TT$15.19 to TT$25.21.
Individuals in Guardian who may not need cash should not only hold their shares but should be adding to their holdings to benefit from the cost savings and increased income that should flow from the greater linking of the group.
New listings retreat on Friday
Newly listed Victoria Mutual Investments and Wisynco Group are two of 6 main market stocks to pull back on Friday with 2.96 million and 1.85 million units traded respectively.
All four stocks that listed on the Jamaica Stock Exchange, in December have retreated from their peak, FosRich fell 48 percent, GWest 33 percent, Wisynco Group 28 percent and VM Investments down 10 percent.
At the close of trading on Friday the JSE All Jamaican Composite Index shed 585.03 points to end at 316,302.83 and the JSE Index fell 533.03 points to close at 288,187.64.
Trading ended with 8,660,030 units valued at $83,892,685 from 27 securities changing hands, of which 12 advanced, 6 declined and 9 traded with prices unchanged.
In the main market activity, Berger Paints finished at $18, with 13,043 shares, Cable & Wireless settled 8 cents higher at $1.39, with 510 shares, Caribbean Cement ended trading with a loss of $3.50 at $32, with 16,735 stock units, Carreras traded 9 cents higher at $11.40, with 180,461 units. Ciboney Group finished trading at 37 cents, with 55,200 shares, Grace Kennedy closed 45 cents higher at $43.45, with 10,493 shares, Jamaica Broilers ended at $18, with 1,219,377 stock units, Jamaica Producers concluded trading at $16.50, with 51,177 units. JMMB Group settled at $25, with 71,228 shares, Kingston Wharves traded 12,597 units and rose $2.98 to $33.99, Mayberry Investments finished trading 10 cents higher at $6.10, with 159,384 shares, NCB Financial Group closed with a loss of 60 cents at $98.90, with 61,628 shares. 1834 Investments ended with a loss of 2 cents at $1.28, with 40,063 stock units, PanJam Investment concluded trading $1.50 higher at $42, with 7,850 units, 
Portland JSX jumped $1.05 to close at $11, with 164,468 shares, Pulse Investments settled 9 cents higher at $2.19, with 68,456 shares trading, Radio Jamaica ended trading at $1.05, with 100,000 stock units. Sagicor Group traded 10 cents higher at $34.75, with 46,157 units, Sagicor Real Estate Fund finished trading 50 cents higher at $15, with 2,640 shares, Salada Foods closed with a loss of $2 at $11, with 30,000 shares, Scotia Group ended $1 higher at $52, with 2,832 stock units changing hands. Sterling Investments finished at $13, with 3,202 shares, Supreme Ventures settled 10 cents higher at $12, with 48,904 shares, VM Investments Limited ended trading with a loss of 33 cents at $4.07, with 3,594,152 stock units and Wisynco Group traded with a loss of 70 cents at $10.80, with 2,698,773 units. In the main market preference segment, Jamaica Money Market Brokers 7.5% traded 100 units at $1.80 and JMMB Group 7.5% traded 600 units to close at $1.15.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “Main market retreat moderately.”
JSE main market consolidating
The Jamaica Stock Exchange All Jamaican Composite Index declined by 70.24 points to close at 316,887.86 and the JSE Index declined by 64.00 points to close at 288,720.67. A total of 24 securities changed hands, down from 29 on Wednesday, 10 advanced, 11 declined and 4 traded firm.
NCB Financial accounted for more than half of the shares with 10 million units leading to 19,253,045 units valued at $1,098,475,593 trading. New listings, Victoria Mutual Investments, accounted for 2.96 million shares and Wisynco 1.85 million units.
In the main market activity, Barita Investments rose 1 cent to end at $7.95, with 8,478 units, Berger Paints finished at $18, with 62,626 shares, Cable & Wireless settled with a loss of 8 cents at $1.31, with 821,331 shares, 
Caribbean Cement ended trading with a surge of $4.03 to $35.50, with 542,827 stock units, Carreras traded with a loss of 14 cents at $11.31, with 480,831 units. Grace Kennedy fell 50 cents to close at $43, exchanging 13,031 shares, Jamaica Broilers ended 79 cents higher at $18, with 26,916 stock units, Jamaica Producers concluded trading with a loss of 5 cents at $16.50, with 28,306 units, Jamaica Stock Exchange finished at $7, with 11,514 shares. JMMB Group fell $2 to $25, with 57,836 shares, Kingston Wharves traded with a loss of $1.99 to end at $31.01, with 9,101 units, Mayberry Investments finished trading $1 higher at $6, with 41,781 shares, NCB Financial Group rose 50 cents to $99.50, with 10,100,229 shares. PanJam Investment concluded trading with a loss of $3 to $40.50, with 88,698 units, Pulse Investments settled with a loss of 29 cents at $2.10, with 35,000 shares, Radio Jamaica ended trading with a loss of 5 cents at $1.05, with 1,303,046 stock units, 
Sagicor Group traded with a loss of 35 cents at $34.65, with 21,110 units. Sagicor Real Estate Fund finished trading at $14.50, with 83,143 shares, Scotia Group ended with a loss of 10 cents at $51, with 398,181 stock units, Supreme Ventures settled 31 cents higher at $11.90, with 133,694 shares, VM Investments ended trading at $4.40, with 2,964,142 stock units and Wisynco Group traded with a loss of 50 cents at $11.50, with 1,851,366 units. In the main market preference segment, Jamaica Money Market Brokers 7.5% fell 10 cent in trading 50,418 units at $1.80 and JMMB Group 7.5% traded 119,440 units and slipped 1 cent to close at $1.15.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “NCB in big trade on Jamaican stock market.“
JSE Main Market chills – Wednesday
True Juice orange juice bottled by Wisynco that traded more than 3.785M units on Wednesday.
Trading on the Main Market ended with 29 securities changing hands resulted in 12 advancing, 10 declining and 7 traded firm with 9,357,015 units valued at $91,768,857 changing hands.
Trading ended with the All Jamaican Composite declined by 180.58 points to close at 316,958.10 on Wednesday and the JSE Index slipped 164.53 points to 288,784.67.
In the main market activity, Barita Investments endded trading 44 cents higher at $7.94, with 6,085 units changing hands, Berger Paints climbed $1 to $18, trading 326,949 shares, Cable & Wireless settled with a loss of 1 cent at $1.39, with 2,140,830 shares, Caribbean Cement ended trading with a loss of 53 cents at $31.47, with 20,428 stock units. Carreras traded at $11.45, with 328,145 units, Ciboney Group finished trading at 37 cents, with 516 shares, 
Grace Kennedy closed at $43.50, with 82,650 shares, Jamaica Broilers ended with a loss of 59 cents at $17.21, with 3,555 stock units. Jamaica Producers concluded trading 5 cents higher at $16.55, with 6,000 units, Jamaica Stock Exchange finished with a loss of 5 cents at $7, with 88,166 shares, JMMB Group jumped $3 t0 $27, with 18,530 shares trading, Kingston Wharves traded 50 cents higher at $33, with 476 units. Mayberry Investments finished trading with a loss of $1 at $5, with 26,370 shares, NCB Financial Group closed at $99, with 13,121 shares, 1834 Investments ended at $1.30, with 20,000 stock units, PanJam Investment concluded trading with a loss of $1.50 to close at $43.50, with 378,000 units, Portland JSX finished with a loss of 5 cents at $9.95, with 2,000 shares. Pulse Investments settled 59 cents higher at $2.39, with 6,500 shares, Radio Jamaica ended trading 8 cents higher at $1.10, with 100,000 stock units, 
Sagicor Group traded with a loss of 30 cents at $35, with 4,100 units, Sagicor Real Estate Fund finished trading 50 cents higher at $14.50, with 595 shares. Salada Foods closed $1.50 higher at 52 weeks’ high of $13, with 1,000 shares, Scotia Group ended with a loss of $1.90 at $51.10, with 26,000 stock units, Seprod concluded trading at $31, with 10,600 units, Supreme Ventures settled $1.58 higher at $11.59, with 7,304 shares. VM Investments Limited ended trading 40 cents higher at $4.40, with 1,911,097 stock units and Wisynco Group traded with a loss of 50 cents at $12, with 3,785,911 units. In the main market preference segment, Jamaica Money Market Brokers 7.5% traded 27,300 units at $1.90 and JMMB Group 7.5% traded 14,787 units at $1.16.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “Trading picks up on JSE Main Market.”
Trinidad’s falling stocks edged advancers
A total of 14 securities traded on the Trinidad & Tobago Stock Exchange on Wednesday against 11 on Tuesday, with 2 stocks advancing, 3 declining as 9 remained unchanged.
Market activity ended with a mere 165,319 shares with a value of $2,450,124 compared to 168,640 units on Tuesday, valued at $1,925,602.
The market continued where it left off on Tuesday with the Composite Index rising 0.97 points to 1,273.69. The All T&T Index declined 0.14 points to 1,722.24, while the Cross Listed Index inched 0.29 points higher to close at 110.61.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 3 stocks ended with bids higher than their last selling prices and 4 with lower offers.
Gains| Grace Kennedy concluded trading and rose 5 cents changing hands at $3.05 with 2,093 units trading and Sagicor Financial closed with an increase of 17 cents at $8 with 3,125 shares changing hands.
Losses| Angostura Holdings ended with a loss of 5 cents closing at 15 with 375 stock units, First Citizens closed with a loss of 2 cents close at $32 with 10,000 shares trading and Guardian Holdings finished with a loss of 3 cents close at $17 with 20,750 shares being exchanged.
Firm Traded| Clico Investments traded finished at $21 with 53,690 units trading valued at $1,127,490, First Caribbean finished trading close at $9.15 with 225 shares, JMMB Group settled at $1.65 with 46,851 shares, National Enterprise closed with 290 shares changing hands at $9.80, NCB Financial Group concluded trading at $6.55 with 9,950 units. Republic Financial had with 521 shares changing hands at $101.50, Scotiabank ended at $60.10 with 1,564 shares changing hands, Trinidad & Tobago NGL finished with 11,385 shares valued at $301,703 changing hands at $26.50 and Trinidad Cement settled at $3.75 with 4,500 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.
VM Investments up 63% from IPO
VM Investments gained 63% to end at $4 on Tuesday from the IPO price
The latest listing on the Main Market of the Jamaica Stock Exchange, Victoria Mutual Investments, closed trading with 2.35 million shares with the price rising to a new closing high of $4 for a gain of 63 percent from its IPO price of $2.45, after trading as high as $4.20.
The Main Market of the Jamaica Stock Exchange concluded trading on Monday with 26 securities changing hands versus 22 securities trading on Friday. The price of 10 stocks advanced, 11 declined and 5 traded firm with 11,226,286 units valued at $102,330,476 changing hands.
Trading ended with the All Jamaican Composite 622.57 points to 317,138.68 and the JSE Index advancing by 567.23 points to 288,949.20.
In the main market activity, Berger Paints finished 45 cents higher at $17, trading just 525 shares, Cable & Wireless settled 15 cents higher at $1.40, with 1,804,417 shares, 
Caribbean Cement ended trading with a loss of 50 cents at $32, with 9,800 stock units, Carreras traded 5 cents higher at $11.45, with 234,822 units. Ciboney Group finished trading with a loss of 4 cents down to 37 cents, with 728 shares, Grace Kennedy closed with a loss of 25 cents at $43.50, with 16,000 shares, Jamaica Broilers ended 10 cents higher at $17.80, with 26,937 stock units, Jamaica Producers concluded trading with a loss of 20 cents at $16.50, with 1,683 units. Jamaica Stock Exchange finished at $7.05, with 12,000 shares, JMMB Group settled with a loss of $1 to end at $24, with 65,054 shares trading, Kingston Properties ended trading at $7.70, with 3,100 stock units, NCB Financial Group closed with a loss of $1 to $99, with 50,823 shares. 1834 Investments ended 5 cents higher at $1.30, with 459,937 stock units, PanJam Investment concluded trading 25 cents higher at $45, with 5,341 units, Pulse Investments settled at $1.80, with 94,172 shares, 
Radio Jamaica ended trading with a loss of 3 cents at $1.02, with 159,905 stock units, Sagicor Group traded with a loss of $2.70 at $35.30, with 7,563 units. Sagicor Real Estate Fund finished trading with a loss of $1 to $14, with 5,589 shares, Salada Foods closed 25 cents higher at $11.50, with 117,951 shares, Scotia Group ended with a loss of 85 cents at $53, with 104,683 stock units, Seprod settled $1 higher at $31, with 3,250 shares. Supreme Ventures traded with a loss of $1.49 to end at $10.01, with 131,005 units, VM Investments finished trading 76 cents higher to a record close of $4, with 2,353,026 shares trading and WISYNCO Group closed 51 cents higher at $12.50, with 5,546,728 shares changing hands. In the main market preference segment, Jamaica Money Market Brokers 7.25% traded 4,266 units at $2.49, Jamaica Money Market Brokers 7.5% traded 6,981 units at $1.90.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “JSE Main Market starts 2018 with gains.”
VM Investments up 32% first trading day
VM Investments gained 32% to end at $3.24 on Friday
The latest listing on the Main Market of the Jamaica Stock Exchange, Victoria Mutual Investments, traded after listing on Friday and closed at $3.24 for a gain of 32 percent from its IPO price, after trading as high as $4 while trading 782,853 shares.
Wisynco that listed on Thursday, closed at $11.99 on heavy trading to gain 52 percent since the public issue in December.
The Main Market of the Jamaica Stock Exchange concluded trading on Friday with 26 securities changing hands, 11 advanced, 4 declined and 11 traded firm with 10,210,190 units valued at $125,309,363.
Trading ended with the All Jamaican Composite Index surging 4,310.37 points to 316,516.11 for a gain of 50.6 percent for the year and the JSE Index jumping by 3,927.24 points to 288,381.97, ending 2017 with a rise of 50 percent versus 22 securities trading on Thursday.
In main market activity, Barita Investments concluded trading with a loss of 45 cents at $7.50, with 11,075 units, Berger Paints finished 4 cents higher at $16.55, with 12,000 shares, Cable & Wireless settled 15 cents higher at $1.25, with 918,469 shares, Caribbean Cement ended trading at $32.50, with 12,000 stock units, Carreras traded at $11.40, with 82,669 units. Grace Kennedy closed 75 cents higher at $43.75, with 118,915 shares, Jamaica Broilers ended with a loss of 30 cents at $17.70, with 13,300 stock units, JMMB Group ended trading $2 higher at $25, with 1,255,076 stock units, Jamaica Producers concluded trading at $16.70, with 104,033 units, Jamaica Stock Exchange finished 5 cents higher at $7.05, with 49,297 shares. Kingston Wharves ended trading at $32.50, with 9,204 stock units, Mayberry Investments traded at $6, with 89,353 units, NCB Financial finished trading $1.50 higher at $100, with 38,507 shares, PanJam Investment ended with a loss of 5 cents at $44.75, with 15,429 stock units. 
Radio Jamaica settled at $1.05, with 185,174 shares, Sagicor Group ended trading 1 cent higher at $38, with 136,913 stock units, Sagicor Real Estate Fund traded at $15, with 8,817 units, Salada Foods finished trading with a loss of 25 cents at $11.25, with 32,049 shares. Scotia Group closed $3.75 higher at $53.85, with 76,440 shares, Sterling Investments gained $1 and closed at $13, with 7,470 shares, Supreme Ventures ended trading at $11.50, with 515,544 stock units and Wisynco Group traded $1.90 higher to end at a closing record high of $11.99, with 5,090,376 units. In the main market preference segment, Jamaica Money Market Brokers 7.5% traded 550,000 units at $1.90, JMMB Group 7.5% traded 94,000 units at $1.15 and Proven Investments 8.25% ended with 1,227 units trading at $5.90.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “JSE Main Market gains 50% for 2017.”