Main market stocks surge higher at the close of trading on the Jamaica Stock Exchange on Tuesday even as declining stocks beat out advancing almost 3 to 1. Market activity took place from increased volumes as 30 securities changed hands up from 26 on Monday.
At the close of trading 2 securities were active in the US dollar market, 6 stocks advanced and 15 declined in both markets. The main market ended with 3,703,287 units valued at $102,098,446 changing hands compared to 6,318,090 units valued at $56,287,458 at the close on Monday. Trading in the US dollar market accounted for just 984 units valued at US$623, bringing the total of all trades to J$102,178,210.
The All Jamaica Composite Index jumped 2,655.88 points to close at 277,217.25, the JSE Market Index climbed 2,419.81 points to 252,576.32 and the JSE US dollar market index lost 0.07 points to close at 186.15.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 4 stocks with bids higher than their last selling prices and 4 with lower offers.
The main market ended trading with an average of 123,443 units valued at $3,403,282 for each security traded compared to an average of 243,003 units valued at $2,164,902. The average volume and value for the month to date ended at 157,392 units with an average value of $3,180,224 compared with an average of 161,636 units with an average value of $3,152,342 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
In market activity, Barita Investments jumped $1.20 to record high of $12 with 16,931 shares changing hands, just over a week that the company reported that the directors were considering an offer to purchase the majority of its shares. Cable and Wireless closed at $1.20, losing 3 cents as 1,114,661 shares were exchanged, after the company posted a profit in the June quarter, Caribbean Cement lost 49 cents, closing at $27.01 with 6,500 shares, 
Carreras climbed $1 to $109, with 761,392 shares Grace Kennedy dipped 15 cents to $41 trading 7,606 shares. Jamaica Broilers exchanged 28,206 shares at $17.50, Jamaica Producers closed at $15, with gains of 34 cents, trading 2,000 shares, Jamaica Stock Exchange lost 3 cents to $6.45, with 8,586 shares changing hands, JMMB Group gained 78 cents to close at $21, with 68,950 shares. Kingston Properties exchanged 43,400 shares at $7.20, having lost 80 cents, Kingston Wharves slid 50 cents to $29.50, with an exchange of 37,483 shares, Mayberry Investments lost 30 cents to close at $4.40, with 80,978 shares changing hands, NCB Financial Group fell 50 cents to $90, after exchanging 73,999 units, 1834 Investments lost 5 cents to close at $1.30 while trading 137,746 shares, 138 Student Living closed at $5.15, after losing 35 cents with 4,100 shares, PanJam Investment closed 5 cents lower at $30.95 trading 33,152 shares, Portland JSX exchanged 41,892 shares at $9.30. Pulse Investments gained 9 cents to close at $1.95 trading 33,986 shares, Radio Jamaica exchanged 1,000 shares at $1.40, Sagicor Group closed 47 cents lower to $31.52, with 35,648 shares, Sagicor Real Estate fund traded 24,422 shares at $12.05, Salada Foods closed at $9.50 with 442 shares changing hands, Scotia Group closed at $45.90 with trades of 27,550 shares, Scotia Investments gained 10 cents with 500 shares traded and closed at $35.10, Seprod dropped $2.55 to $30 with an exchange of 35,937 shares, Sterling Investments closed 5 cents lower to $14 trading 15,000 shares, Supreme Ventures traded 56,148 shares at $8. Proven Investments US ordinary share, closed at 24 US cents with 534 units changing hands, JMMB Group US 6% preference shares was down 2 US cents to US$1.10, trading 450 units, , Jamaica Money Market Brokers 7.5% preference share traded 4,852 units at $1.99, JMMB Group 7.5% preference closed at $1.15, with 1,000,000 units changing owners and Proven 8.25% preference share closed at $4.98, losing 1 cent exchanging 220 units.
Barita at record high on Monday
T
he main market stocks of the Jamaica Stock Exchange declined for the second consecutive day with moderate fall in the indices at the close on Monday. Barita Investments, the subject of a proposed takeover bid closed at a new all-time high of $10.80 at the close.
The All Jamaica Composite Index declined 515.97 points to close at 274,561.37, the JSE Market Index declined 470.10 points to 250,156.51 and the JSE US dollar market index lost 2.04 points to close at 186.22.
At the close of trading, 26 securities changed hands in the main market with 2 trading in the US dollar market, leading to 8 stocks advancing and 9 declining. 
The main market ended with 6,318,090 units valued at $56,287,458 changing hands compared to 7,902,262 units valued at $237,278,617 at the close on Friday. Trading in the US dollar market accounted for 243,556 units valued at US$58,933, bringing the total of all trades to J$63,830,938.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 4 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 243,003 units valued at $2,164,902 for each security traded compared to an average of 395,113 units valued at $11,863,931. The average volume and value for the month to date ended at 161,636 units with an average value of $3,152,342 compared with an average of 150,012 units with an average value of $3,293,405 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
In market activity, Barita Investments traded $1.40 higher to close at an all-time high of $10.80 with 30,000 shares changing hands, Berger Paints gained 95 cents and closed at $16.95 trading 1,218 shares, Cable and Wireless closed at $1.23, after gaining 16 cents with an exchange of 3,513,068 shares, with investors reacting positively to the report of profit in the June quarter. Caribbean Cement lost 51 cents to end at $27.50 with 16,500 shares,Carreras closed at $108, with 88,618 shares switching owners, Grace Kennedy jumped $1.15 to close at $41.15 trading 20,997 shares. Jamaica Broilers lost 50 cents exchanging 332,468 shares to close at $17.50, Jamaica Producers closed at $14.66, with a loss of 44 cents trading 42,186 shares, Jamaica Stock Exchange closed at $6.48 with 13,000 shares changing hands, 
JMMB Group lost 28 cents to close at $20.22, with 341,624 shares. Kingston Properties exchanged 1,000 shares at $8, Kingston Wharves traded $1 higher to $30, with an exchange of 7,000 shares, Mayberry Investments gained 21 cents to close at $4.70, with 465,061 shares changing hands, NCB Financial Group dipped 50 cents to $90.50, after exchanging 111,568 shares, 1834 Investments lost 5 cents to close at $1.35 while trading 1,834 shares, 138 Student Living traded 26,498 shares at $5.50, PanJam Investment closed $1 higher to $31 trading 127,297 shares,Proven Investments exchanged 26,560 shares at $25.02, Pulse Investments closed at $1.86 trading 39,165 shares, Radio Jamaica lost 20 cents exchanging 52,658 shares to close at $1.40, Sagicor Group closed $2.36 lower to $31.99, with 142,899 shares, Sagicor Real Estate Fund exchanged 18,151 shares at $12.05, Scotia Group closed at $45.90 with trades of 28,304 shares, Supreme Ventures traded 468,136 shares at $8. Margaritaville Turks US ordinary share was down 3 US cents to 33 US cents trading 5,000 units, Proven Investments US ordinary share closed at 24 US cents with 238,566 units changing hands, JMMB Group 7.5% preference share gained 4 cents, closing at $1.15, with 399,500 units changing owners and Proven 8.25% preference share closed at $4.99 exchanging 2,780 units.
Main market drops over 3,000 points – Friday
Sagicor Group traded 5m shares on the JSE main market on Friday.
The main market stocks of the Jamaica Stock Exchange lost ground at the close on Friday with sizable declines in the indices but with increased trading volume as Sagicor Group traded more than 5 million share, but fewer securities traded than on Thursday.
Trading ended with the All Jamaica Composite Index diving 3,359.30 points to close at 275,077.34, the JSE Market Index dropped 3,060.70 points to 250,626.61, bringing the gains for 2017 to more than 30 percent. The JSE US dollar market index added 1.37 points to close at 188.26.
At the close of trading, 20 securities changed hands in the main market with 1 trading in the US dollar market, leading to 8 stocks advancing and 6 declining. The main market ended with 7,902,262 units valued at $237,278,617 changing hands compared to 1,374,903 units valued at $47,150,828 at the close on Thursday.
Trading in the US dollar market accounted for 659,944 units valued at US$158,387 bringing the total of all trades to J$257,552,096.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 7 stocks with bids higher than their last selling prices and 1 with a lower offer.
The main market ended trading with an average of 395,113 units valued at $11,863,931 for each security traded compared to an average of 54,996 units valued at $1,886,033. The average volume and value for the month to date ended at $161,778 units with an average value of $3,293,405 compared with an average of 122,889 units with an average value of $1,864,984 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
The volume and last traded prices of securities changing hands on Friday are, Barita Investments that gained 63 cents to close at a record high of $9.40 with 5,850 shares, Berger Paints dropped $2.69 to $16 exchanging 44,705 shares, Cable and Wireless gained 3 cents to close at $1.07, with 1,000 shares changing hands, Caribbean Cement gained 1 cent, closing at $28.01 with 37,365 shares,Carreras fell $1.50 to $108, with 140,539 shares, Grace Kennedy closed at $40, trading 161,570 shares. 
Jamaica Broilers lost 10 cents exchanging 1,057,803 shares at $18, Jamaica Producers closed at $15.10 trading 7,050 shares, Jamaica Stock Exchange closed at $6.48 with 29,355 shares changing hands, JMMB Group gained 51 cents to close at $20.50, with 13,100 shares. Mayberry Investments lost 14 cents to close at $4.49, with 9,996 shares changing hands, NCB Financial Group traded $1 higher to $91, after exchanging 156,542 shares, PanJam Investment shed $1 to $30 trading 29,077 shares, Proven Investments exchanged 600,000 shares at $25.02, Pulse Investments lost 13 cents to close at $1.86 trading 6,000 shares, Radio Jamaica gained 10 cents in exchanging 28,000 shares to close at $1.60. Sagicor Group traded 5,012,508 shares at $34.35, Scotia Group closed $1.90 higher to $45.90 with 75,721 shares, Supreme Ventures exchanged 3,500 shares at $8. Proven Investments US ordinary shares, traded 659,944 units at 24 US cents and JMMB Group 7.5% preference share gained 1 cent, closing at $1.11, with 482,581 units.
TTSE inches up on Friday
Trading on the Trinidad & Tobago Stock Exchange on Friday, 13 securities changed hands, the same as on Thursday with higher volumes and values as the market ended with few price changes.
At the close, 2 stocks advanced, 11 remained unchanged firm and no losses were recorded. The volume of all trades ended with 419,775 shares at a value of $2,356,840 compared to Thursday’s trades of 199,781 valued at $1,904,796.
The Composite Index advanced 1.26 points to 1,219.94, the All T&T Index was unchanged at 1,792.92 and the Cross Listed Index gained 0.35 points to 86.76 points.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 4 stocks with bids higher than last selling prices and 4 with lower offers.
Gains| L.J. Williams B closed at 79 cents, gaining 1 cent with trades of 100 units and NCB Financial Group gained 5 cents to close at a 52 weeks’ high of $4.20 while exchanging 8,000 shares, the stock ended with a bid of $4.21 to buy 50,000 units but with no offers to sell, at the close.
Firm Trades| Ansa McAL closed at $66 with an exchange of 5,694 shares valued at $375,804, Clico Investment traded 914 shares at $21.50, First Citizens closed at $31.66, with 3,129 shares, Grace Kennedy exchanged 3,668 shares at $2.85. Guardian Holdings held firm at $16.50, with 2,500 shares changing hands, Massy Holdings closed at $49 trading 11,042 shares valued at $541,030, Republic Financial Holdings remained at $101.90, with 460 units trading. Sagicor Financial exchanged 300 units at $8.10, Scotiabank closed at $58 exchanging 1,111 shares, Scotia Investments traded 369,717 shares at $2.20 valued at $813,377 and Trinidad & Tobago NGLclosed at $23.50, with an exchange of 13,140 shares valued at $308,789.
TTSE remaining stable
Trading on the Trinidad & Tobago Stock Exchange on Thursday ended with lower volume and value of securities trading compared to the previous day, resulting from 13 securities changing hands compared to 17 on Wednesday.
The market closed with 2 stocks advancing, 1 declining and 10 holding firm as 199,781 shares traded at a value of $1,904,796 compared to Wednesday’s trades of 288,058 valued at $6,518,541.
The Composite Index advanced 0.86 points to 1,218.68, the All T&T Index added 0.04 points to 1,792.92 and the Cross Listed Index gained 0.23 points to 86.41 points.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 4 stocks with bids higher than last selling prices and 3 with lower offers.
Gains| First Citizens gained 1 cent to close at $31.66 with 400 units changing hands and NCB Financial Group closed at a 52 weeks’ high of $4.15 trading 30,312 shares and closed with demand to buy 142,635 units at $4.15 with no stock being offered for sale.
Losses| Prestige Holdings lost 1 cent to close at $10.64 exchanging 45,914 shares valued at $488,525.
Firm Trades| Clico Investment traded 9,770 shares at $21.50, First Caribbean International closed at $8.05, with 30,000 shares, Grace Kennedy exchanged 52,104 shares at $2.85. Guardian Holdings held firm at $16.50, with 3,255 shares switching owners, JMMB Group closed at $1.18 trading 1,700 shares, Massy Holdings closed at $49, with 1,359 shares. One Caribbean Media exchanged 2,850 shares at $14.90, Sagicor Financial remained at $8.10 exchanging 1,264 shares, Scotiabank traded 370 units at $58 and Trinidad & Tobago NGLremained at $23.50, with an exchange of 20,483 shares valued at $481,350.
New record close -Thursday
Main market stocks of the Jamaica Stock Exchange closed at record levels at the close on Thursday with the market indices climbing over 2,300 points but with advancing stocks being edged out by declining ones.
The All Jamaica Composite Index surged 2,567.56 points to a record close of 278,436.64, the JSE Market Index jumped 2,339.33 points to a record at the close of 253,687.31 and the JSE US dollar market index lost 10.81 points to close at 186.89.
At the close of trading, 25 securities changed hands in the main market with 1 trading in the US dollar market, leading to 8 stocks advancing and 9 declining. The main market ended with 1,374,903 units valued at $47,150,828 changing hands compared to 1,809,394 units valued at $47,308,355 at the close on Wednesday. Trading in the US dollar market accounted for 631,286 units valued at US$150,176 bringing the total of all trades to J$66,373,329.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 4 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 54,996 units valued at $1,886,033 for each security traded compared to an average of 69,592 units valued at $1,819,552. The average volume and value for the month to date ended at 109,162 units with an average value of $1,864,984 compared with an average of $119,995 units with an average value of $1,860,774 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
In market activity, Barita Investmentslost 23 cents to close at $8.77 trading 800 shares, Berger Paints advanced $2.51 to $18.69 while exchanging just 179 units, Cable and Wireless lost 1 cent to close at $1.04, with 218 units changing hands, Caribbean Cement lost $1 in closing at $28, 1,500 shares,Carreras dipped 50 cents to $109.50, with 121,812 shares switching owners and Grace Kennedy closed at $40, with a loss of 49 cents trading 9,790 shares. Jamaica Broilers exchanged 68,558 shares at $18.10, Jamaica Producers closed at $15.10, with a loss of 90 cents trading 460 units, Jamaica Stock Exchange lost 1 cent, closing at $6.48 with 34,250 shares changing, JMMB Group closed at $19.99, gaining 79 cents with 267,627 shares. Kingston Wharves exchanged 283 units at $29, Mayberry Investments gained 14 cents to close at $4.63, with 2,435 shares changing hands, 
NCB Financial Group held firm at $90, after exchanging 27,309 shares, 1834 Investments traded 50,000 shares at $1.40, PanJam Investment closed $2 lower to $31 trading 614,451 shares, Portland JSX gained 30 cents to $9.30, with an exchange of 3,350 shares, Proven Investments added 1 cent, closing at $25.02, with trades of 80,000 shares, Pulse Investments gained 1 cent to close at $1.99 trading 20,000 shares and Radio Jamaica closed at $1.50 exchanging 2,438 shares. Sagicor Group closed at $34.35, with gains of 35 cents trading 28,700 shares, Salada Foods gained 39 cents, closing at $9.50 with 128 units, Scotia Group ended at $44 with 23,318 shares, Seprod closed at $32.55, losing 85 cents with 7,443 shares changing hands. Proven Investments US ordinary share traded 631,286 units at 24 US cents, Jamaica Money Market Brokers 7.5% preference share closed at $1.99 with 2,934 units traded and Proven 8.25% preference share exchanged 6,920 units at $4.99.
Main market drops 2,000 points – Wednesday
Main market stocks suffered a reversal of fortunes on the Jamaica Stock Exchange on Wednesday with the main indices slipping over 2,000 points in spite of a $5 jump for Carreras and $2 for Sagicor Group. Trading closed moderately with 1,809,394 units valued at $47,308,355 changing hands.
On Tuesday just 909,094 units valued at $30,837,797 traded in the main market. Trading in the US dollar market on Wednesday accounted for 297,250 units valued at US$77,073 bringing the total of all trades to J$57,173,667.
At the close of trading, 26 securities changed hands in the main market with 2 trading in the US dollar market, leading to 9 stocks advancing and 8 declining.
The All Jamaica Composite Index declined 2,289.06 points to close at 275,869.08, the JSE Market Index lost 2,085.59 points to 251,347.98 and the JSE US dollar market index gained 5.10 points to close at 197.70.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 6 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 69,592 units valued at $1,819,552 for each security traded compared to an average of 39,526 units valued at $1,340,774. 
The average volume and value for the month to date ended at $119,995 units with an average value of $1,860,774 compared with an average of 132,596 units with an average value of $1,871,080 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
In market activity, Barita Investments gained 15 cents, closing at $9 with 211,900 shares changing hands, Berger Paints traded $2.37 lower to $16.18 in exchanging 43,980 shares, Cable and Wireless lost 10 cents to close at $1.05, with 54,029 shares changing hands,
Caribbean Cement closed at $29 after gaining $1 with 48,058 shares, Carreras jumped $5 higher to $110 while exchanging 112,582 shares, Grace Kennedy closed at $40.49, with a loss of 51 cents trading 114,173 shares. Jamaica Broilers lost 39 cents, in closing at $18.10 with an exchanging 28,436 shares, Jamaica Producers gained 90 cents to close at $16 trading 17,120 shares, Jamaica Stock Exchange added 1 cent, closing at $6.49 with 11,852 shares, JMMB Group closed at $19.20, losing 79 cents with 92,071 shares. Mayberry Investments closed at $4.49 after losing 51 cents with 17,010 shares changing hands, 
NCB Financial Group held firm at $90, after exchanging 42,893 shares, 1834 Investments traded 42,637 shares at $1.40, 138 Student Living gained 50 cents to close at $5.50 exchanging 5,000 shares, PanJam Investment remained at $33 trading 260,026 shares, Proven Investments exchanged 202,170 shares at $25.01, Pulse Investments gained 3 cents to close at $1.98 trading 76,971 shares, Radio Jamaica closed at $1.50 exchanging 117,708 shares. Sagicor Group closed at $34, with gains of $2 while trading 39,221 shares, Salada Foods lost 19 cents to $9.11, with 2,430 shares switching owners, Scotia Group closed at $44 with trades of 80,236 shares, Scotia Investments exchanged 100 units at $35, Seprod gained 85 cents to close at $33.40, with 301 units changing hands, Supreme Ventures traded 181,490 shares at $8. Margaritaville Turks US ordinary shares closed at 36 US cents trading 13,497 units, Proven Investments US ordinary shares closed at 24 US cents, with an exchange of 283,753 units, Proven Investments 8.25% preference share exchanged 3,000 units at $5 and JMMB Group 7.5% preference share lost 1 cent to close at $1.10 with 4,000 units traded.
JSE jumps to new record close – Tuesday
Investors pushed the Jamaica Stock Exchange indices up sharply to hit new record highs at the close on Tuessday. During the morning session, the All Jamaica Composite Index hit a new all-time high of 279,335.69, after surging a huge 6,471.87 points at 11:50 AM.
The JSE Market Index jumped 5,896.61 points to a record 254,506.45 points. By the close gains eased with the market closing a bit lower but well above Friday’s close.
Trading ended with the All Jamaica Composite Index jumping 5,294.32 points to a record close of 278,158.14, the JSE Market Index leapt 4,823.73 points to 253,433.57 and the JSE US dollar market index gained 3.76 points to close at 192.60.
At the close of trading, 23 securities changed hands in the main market with 1 trading in the US dollar market, leading to 11 stocks advancing and 6 declining. The main market ended with 37,879 units valued at $30,837,797 changing hands compared to 2,489,517 units valued at $21,640,002 at the close on Friday. Trading in the US dollar market accounted for 404,258 units valued at US$99,647 bringing the total of all trades to J$83,856,037.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 8 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 39,526 units valued at 1,340,774 for each security traded compared to an average of 124,476 units valued at $1,082,000. The average volume and value for the month to date ended at $132,184 units with an average value of $1,857,113 compared with an average of 163,620 units with an average value of $2,047,849 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
In market activity, Barita Investments traded 85 cents higher to close record high of $8.85 in exchanging 4,555 shares, Berger Paints closed at $18.55, with a loss of 45 cents trading 1,325 shares, Cable and Wireless added 10 cents to close at $1.15, with 25,100 shares changing hands, Caribbean Cement fell $1.80 to $28, exchanging 27,929 shares, Carreras dropped $4 lower to $105 with 69,288 shares, Grace Kennedy closed at $41 trading 78,696 shares. Jamaica Broilers gained 49 cents, closing at $18.49 with 100 units, Jamaica Producers traded 9,374 shares at $15.10, Jamaica Stock Exchange added 1 cent to end at $6.48 trading 61,767 shares, JMMB Group closed at $19.99, with 58,070 shares. Kingston Wharves closed at $29,after gaining $1.80 with 9,143 shares changing hands, 
NCB Financial Group traded $4.99 lower to $90, after exchanging 36,483 shares, PanJam Investment closed at $33 trading 47,000 shares, Proven Investments exchanged 139,570 shares at $25.01, Pulse Investments gained 45 cents to close at $1.95, with 76,936 shares, Radio Jamaica closed at $1.50, with gains of 9 cents exchanging 11,097 shares. Sagicor Group closed at $32 trading 31,475 shares, Sagicor Real Estate Fund gained 13 cents to close at $12.05, with 13,605 shares, Scotia Group closed at $44 with trades of 160,588 shares, Scotia Investments lost 12 cents , closing at $35 in exchanging 3,742 shares, Seprod closed at $32.55, with gains of $1.55 and 928 units changing hands, Supreme Ventures gained 15 cents, closing at $8 with 41,913 shares exchanged. Proven Investments US ordinary shares closed at 24 US cents, with trades of 404,258 units and JMMB 7.5% preference share rose 9 cents and closed at $1.99 with 410 units traded.
Ansa McAl controls 85% of trading
Trading on the Trinidad & Tobago Stock Exchange on Tuesday saw Ansa McAL controlling 85 percent of the market’s value of trading, following on the heels of its acquisition of more than 80 percent of Berger Paints Trinidad and announced its intention to advise of an offer to shareholders by August 23.
The market closed with 12 securities changing hands compared to 16 on Monday with 5 stocks advancing, 2 declining and 5 remaining unchanged. A total of 147,398 shares traded, valued at $6,520,927 compared to Monday’s trades of 632,284 units valued at $6,004,307.
The Composite Index advanced 0.92 points to 1,216.93, the All T&T Index added 0.01 point to 1,792.40 and the Cross Listed Index gained 0.25 points to 86 points.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 3 stocks with bids higher than last selling prices and 3 with lower offers.
Gains| First Caribbean International Bank added 1 cent to close at $8.01 trading 1,000, First Citizens gained 1 cent, closing at $31.66 with 11,932 shares valued at $377,704 trading, NCB Financial Group closed at a 52 weeks’ high of $4.11, with gains of 3 cents in exchanging 3,983 shares. The banking group closed with the bid at $4.11 to purchase 84,567 shares and no stock being offered for sale.
Point Lisas gained 1 cent to close at $3.88 trading 6,016 shares and Republic Financial Holdings closed at $101.91, with a 1 cent gain while exchanging 1,368 units.
Losses| Clico Investment traded 50 cents lower to a 52 weeks’ low of $21.50 with the exchange of 1,372 shares and Massy Holdings lost 1 cent to close at a 52 weeks’ low of $48.99, with 51 units.
Firm Trades| Ansa McAL closed at $66, with an exchange of 83,950 shares valued at $5,540,700, Sagicor Financial traded 3,950 shares at $8.10, Scotiabank exchanged 38 units at $58. Trinidad Cement closed at $4.14, with 22,914 shares changing hands and Trinidad & Tobago NGLremained at $23.50, with trades of 10,824 shares.
Stock split virtually baked in for NCB
NCB Financial Group HQ.
NCB Financial Group released nine months results just over a week ago, with earnings rising 33 percent over the prior year, helping to push the stock price to a record $94.99, with investors sending the clearest message, that a stock split will and must take place, whether management wants to or not.
In an investors’ briefing, the day after the released results, Group Chief Financial Offer and Deputy CEO, Dennis Cohen in response to the question, whether they would consider a stock split for NCB shares, said they were not considering one and have not discussed the matter. According to Cohen, they see no benefit to the group from a stock split.
The response by management, if they are honest, indicates that they don’t have all the answers in managing. The reality is that companies do benefit from stock splits, they may not be readily visible in all cases, but over time they do. In reality, it starts from the time the announcement of a split is made.
It is true that shareholders are the ones who benefit most from splits. Good management will ensure that all stakeholders benefit from their skills. They are managing the company for shareholders and ought to ensure that the owners get maximum benefit for their investments and not just the major shareholders. Too often, management feel that their role is to manage a company for profit maximization without factoring the shareholders fully into the equation. This is unfortunately the message the top executives at NCB were sending to shareholders, with their comments. Some of that was visible not so long ago, when they pursued an erratic dividend policy that no one knew what it was, creating havoc for the stock.
The stock now has less than 7,000 units on offer at the close on Friday while no stock was offered in Trinidad were it is listed. Supply in the stocks has virtually dried up in the last three weeks. Under this situation there is going to be limited trading in the stock and management will have to move to do something about it before the year ends.