Republic takes 68% of trading

Republic Financial Holdings took the largest value of trading on Wednesday on the TTSE.

The Trinidad & Tobago Stock Exchange resumed trading on Wednesday after being closed on Monday and Tuesday with trading values rising above Friday’s levels. Trading closed with Republic Financial Holdings as the dominant trade with just over 68 percent of the total value traded.
The market closed with of 10 securities changing hands compared to 13 on Friday with 2 stocks advancing, 5 declining and 3 holding firm as 195,938 shares traded at a value of $9,062,326 compared to Friday’s trades of 143,801 valued at $2,818,683.
The Composite Index declined 0.91 points to 1,210.54, the All T&T Index dropped 0.72 points to 1,789.03 and the Cross Listed Index lost 0.15 points to 84.71.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 5 stocks with bids higher than last selling prices and 5 with lower offers.
Gains| JMMB Group closed at $1.26, gaining 3 cents with 10,000 shares changing hands and Trinidad & Tobago NGL traded 22 cents higher to close at $21.33, with an exchange of 13,946 units valued at $295,915. Losses| Grace Kennedy closed $2.70, with a loss of 10 cents exchanging 5,198 shares, Massy Holdings traded 40 cents lower, closing at a 52 weeks’ low of $50.10, with 37,320 shares changing hands valued at $1,868,488 and Prestige Holdings closed at a 52 weeks’ low of $10.75, losing 6 cents in trading 45,247 units valued at $486,406. Scotia Investments lost 3 cents, in closing at $2.45 with trades of 20,910 shares and West Indian Tobacco closed at $126.35, with a loss of 3 cents exchanging 750 units.
Firm Trades| Clico Investment exchanged 1,424 shares at $22.51, First Citizens held firm at $31.65, with 342 shares trading and Republic Financial Holdings remained at $101.90, with 60,801 shares changing owners at a value of $6,195,622.

JSE majors fall back on Tuesday

Trading in the main market of the Jamaica Stock Exchange closed on Tuesday with stocks rising outnumbering those falling. The market indices fell back at the close the JSE Market Index fell 878.85 points to 235,245.62, with the All Jamaica Composite Index declining 964.58 points to close at 258,195.81 and the JSE US dollar market index closed at 200.45.
At the close of trading, 25 securities changed hands with 2 trading in the US dollar market, leading to 7 stocks advancing and 7 declining. Trading in the main market ended with 3,513,896 units valued at $221,929,673 changing hands compared to 2,726,092 units valued at $27,555,950 at the close on Monday. Trading in the US dollar market accounted for 51,800 units valued at US$42,613.
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 140,556 units valued at $8,877,187 for every security traded compared to an average of 113,587 units valued at $1,148,165 on Monday. The average volume and value for the month to date ended at 202,407 units with an average value of $4,580,773 compared with an average of 207,165 units with an average value of $4,250,279 on the previous trading day. The average volume and value for May ended at 358,008 units and $9,037,303.
In market activity, Barita Investments traded 250 shares at $7, Berger Paints closed at $17.50, after losing 32 cents with an exchange of 9,200 shares, Cable and Wireless closed at $1.15 with a fall of 5 cents trading 30,000 stock units, Caribbean Cement gained 40 cents to close at $26.90 trading 7,290 shares, Carreras closed at $86.70, with a loss of 9 cents in exchanging 1,832 units, Grace Kennedy closed at $41, with 50,060 units changing hands, Jamaica Broilers closed at $18, with gains of 38 cents trading 3,325 shares, Jamaica Producers closed at $15.85, with an exchange of 1,658 units. Jamaica Stock Exchange traded 5,000 shares at $6.90, JMMB Group lost 50 cents to close at $19.50, with 9,100 units changing hands, Kingston Properties gained 25 cents, closing at $10.25 with 900 units, Kingston Wharves traded 77 cents higher to close at $27.78, with an exchange of 200 shares, Mayberry Investments closed at $4.50, with a loss of 80 cents trading 2,100 shares, NCB Financial Group closed at $72, after exchanging 3,009,420 shares, 1834 Investments closed at $1.50, with 27,400 units changing hands, PanJam Investment exchanged 280 shares at $33.99. Portland JSX Fund closed at $9.95, with a loss of 5 cents trading 18,100 units, Pulse Investments traded 3,859 shares at $17, Radio Jamaica exchanged 117,000 shares at $1.60, Sagicor Group closed at $34.20 trading 36,453 shares while Sagicor Real Estate fund gained 5 cents, closing at $11.15 with 68,441 shares trading. Scotia Group closed at $43.55 exchanging 2,390 shares, Scotia Investments traded 50 cents higher, closing at $37 with 706 units changing hands, Seprod gained $1 to close at $30, with 18,000 units traded while Supreme Ventures closed at $7, as the price lost 50 cents with 90,932 shares changing ownership. Proven Investments closed at 26 US cents trading 18,300 ordinary shares and JMMB Group US 6% preference share closed at US$1.13, with a gain of 0.01 US cent with 33,500 units traded.

 

NCB, JMMB, RJR dominate trading – Friday

NCBFiniancial Group traded more than 1.6 million shares on Friday.

NCB Financial Group with 1.6 million units and Radio Jamaica with 1.5 million and JMMB Group with nearly 600,000 shares were the dominant trades when the Jamaica Stock Exchange closed trading on Friday. At the close of trading, 23 securities changed hands with no trading in the US dollar market, leading to 8 stocks advancing and 6 declining.
At the end of trading, the All Jamaica Composite Index declined 229.82 points to close at 256,532.99, the JSE Market Index lost 209.39 points to 233,730.61 and the JSE US dollar market index closed at 187.70.
Trading in the main market ended with 4,265,878 units valued at $141,120,152 changing hands compared to 12,639,003 units valued at $265,691,928 at the close on Thursday.
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 10 stocks with bids higher than their last selling prices and 1 with a lower offer.
The main market ended trading with an average of 185,473 units valued at $6,135,659 for every security traded compared to an average of 468,111 units valued at $9,840,442. The average volume and value for the month to date ended at 214,963 units with an average value of $4,508,789 compared with an average of 217,644 units with an average value of $4,360,892 on the previous trading day. The average volume and value for May ended at 358,008 units and $9,037,303.
In market activity, Barita Investments gained 5 cents to close at $6.05, with an exchange of 100 shares, Berger Paints closed at $17.31, with 13.963 shares traded, Cable and Wireless closed at $1.20, with 150,718 stock units changing owners, Caribbean Cement closed at $27, gaining 50 cents trading 5,686 shares, Carreras exchanged 1,776 units at $86.90, Grace Kennedy closed at $41, after gaining 23 cents with 19,664 units trading, Jamaica Broilers traded 12,510 shares at $18, Jamaica Producers jumped $1.50 and closed at $16 trading 13,622 units. Jamaica Stock Exchange closed at $7, with an exchange of 14,540 shares, JMMB Group lost 20 cents to close at $19 trading 558,889 units, Kingston Wharves dived $1.53 to close at $27.01, with 19,000 shares changing hands, Mayberry Investments gained 35 cents to close at $5, with trades of 30,040 shares, NCB Financial Group traded $1 lower to close at $71, after exchanging 1,652,807 shares, PanJam Investment lost 20 cents, closing at $33.30 trading 6,030 shares. Pulse Investments closed at $17.50, with gains of 50 cents in exchanging 21,700 shares, Radio Jamaica closed at $1.60, after losing 5 cents while trading 1,537,900 shares, Sagicor Group closed at $34.74, losing 64 cents trading 17,199 shares, Sagicor Real Estate Fund traded 10 cents lower to close at $11.10 with 2,000 shares being exchanged. Salada Foods closed at $10, trading of 300 units, Scotia Group closed at $43 exchanging 134,239 shares, Scotia Investments traded 19,195 shares at $36.50 while Supreme Ventures closed at $7.26, with 33,700 shares changing hands and JMMB Group 7.25% preference share closed at $1.50, gaining 19 cents with trades of 300 units.

 

Market valuation down on TTSE on Friday

Republic Financial Holdings had the largest value of trading on Friday on the TTSE.

Trading on the Trinidad & Tobago Stock Exchange on Friday resumed after a public holiday on Thursday with trading levels and the indices falling, compared to Wednesday. Republic Financial Holdings led the market with about 75 percent of the total value traded.
A total of 13 securities changed hands compared to 16 on Wednesday with 2 stocks advancing, 5 declining and 6 unchanged as 143,801 shares traded at a value of $2,818,683 compared to Wednesday’s trades of 373,818 valued at $18,441,277.
The Composite Index declined 1.05 points to 1,211.45, the All T&T Index slipped 0.63 points to 1,789.75 and the Cross Listed Index lost 0.20 points to 84.86.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 6 stocks with bids higher than last selling prices and 8 with lower offers.
Gains| Guardian Holdings gained 4 cents to close at $16.25, with 10,000 shares changing hands and Trinidad & Tobago NGL closed at $21.11, with gains of 3 cents trading 2,461 units.
Losses| First Citizens closed $31.65, with a loss of 15 cents exchanging 2,632 shares, JMMB Group lost 4 cents to close at $1.23, with of 11,803 shares being traded, National Enterprises closed at $10.49, losing 1 cent trading 100 units. NCB Financial Group lost 1 cent, closing at $4 with 40,000 shares changing hands and Scotia Investments traded 2 cents lower to close at $2.48 exchanging 8,000 units. The price is the equivalent of J$47, well above the price of $38 Scotia Group plans on offering to take over the minority shares.
Firm Trades| Clico Investment exchanged 2,720 shares at $22.51, First Caribbean International Bank held firm at $7.70, with 7,250 shares traded, Grace Kennedy closed at $2.80, with 37,714 shares changing ownership. National Flour Mills remained at $2.20, with 400 shares traded, Point Lisas traded 100 units at $4 and Republic Financial Holdings closed at $101.90, with 20,621 shares changing hands valued at $2,101,280.

Big drop in stocks on Thursday

Trading in the main market of the Jamaica Stock Exchange was hit hard with declining stock ending 2 to 1 over advancing ones leading to big fall in the main market indices. At the close on Thursday the All Jamaica Composite Index dropped 2,155.19 points to close at 256,762.81, the JSE Market Index tumbled 1,963.63 points to 233,940.00 and the JSE US dollar market index lost 5.48 points to 187.70.
At the close of trading, 27 securities changed hands with 2 trading in the US dollar market, leading to 8 stocks advancing and 16 declining. Trading in the main market ended with 12,639,003 units valued at $265,691,928 changing hands compared to 5,154,113 units valued at $53,288,691 at the close on Wednesday. Trading in the US dollar market accounted for 47,800 units valued at US$40,223.
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 1 with a lower offer.
The main market ended trading with an average of 468,111 units valued at $9,840,442 for every security traded compared to an average of 234,278 units valued at $2,422,213 on Wednesday. The average volume and value for the month to date ended at 217,644 units with an average value of $4,360,892 compared with an average of 192,597 units with an average value of $3,812,937 on the previous trading day. The average volume and value for May ended at 358,008 units and $9,037,303.
In market activity, Barita Investments closed at $6, losing $1 trading 2,800 shares, Berger Paints traded 69 cents lower to close at $17.31 in exchanging 19,999 shares, Cable and Wireless closed at $1.20, with 126,884 stock units changing, Caribbean Cement closed at $26.50, after losing 10 cents trading 2,940 shares, Carreras advanced $4.90 to close at $86.90, with an exchange of 31,475 units, Grace Kennedy closed at $40.77, losing 23 cents with 196,826 units changing hands, Jamaica Broilers gained 5 cents exchanging 74,526 shares to close at $18, Jamaica Producers closed at $14.50, with gains of 10 cents trading 66,154 units. Jamaica Stock Exchange closed at $7, with an exchange of 31,000 shares, JMMB Group closed at $19.20, losing 30 cents trading 54,696 units, Kingston Properties traded $1.26 lower to close at $10 exchanging 10,000 shares, Kingston Wharves closed at $28.54 with 300 shares changing ownership, NCB Financial Group gained $1.95 and closed at $72, after exchanging 2,964,070 shares, 1834 Investments exchanged 10,473 units at $1.35, 138 Student Living closed at $4.48, with trades of 1,110 units. PanJam Investment lost 50 cents, closing at $33.50 trading 13,090 shares, Pulse Investments closed at $17, losing 40 cents with an exchange of just 607 shares, Radio Jamaica closed at $1.65, with a loss of 1 cent in exchanging 7,102,241 shares, Sagicor Group closed at $34.10, losing 10 cents trading 268,796 shares, Sagicor Real Estate Fund traded 5 cents higher to close at $11.20 with 4,260 shares exchanged. Scotia Group closed at $43, with gains of 30 cents trading 313,510 shares, Scotia Investments lost 50 cents to close at $36.50, with 23,129 units changing hands, Seprod closed at $29.50, gaining 50 cents, with trades of 3,315 shares while Supreme Ventures closed at $7.26, with a loss of 9 cents and 255,820 shares changing hands. Proven Investments rose marginally in exchanging 15,300 ordinary shares at 24.01 US cents, JMMB Group USD 6% preference share closed at US$1.12 with trades of 32,500 units, JMMB 7.5% preference share lost 5 cents to close at $1.90, with an exchange of 60,000 units, JPS 9.5% preference share closed $23 lower, closing at $1,302 with 982 units and JMMB Group 7.5% preference share closed at $1.12, losing 3 cents with trades of 1,000,000 units.

 

JSE indices rise in soft market – Tuesday

Trading in the main market of the Jamaica Stock Exchange closed on Tuesday with advancing stocks just edging out declining ones and leading the market indices to a mild increase. At the close trading volume and values rose sharply compared to the prior day.
The All Jamaica Composite Index advanced 169.10 points to close at 258,452.06, the JSE Market Index gained 154.07 points to 235,479.10 but the JSE US dollar market index lost 14.16 points to 186.29.
At the close of trading, 23 securities changed hands with 1 trading in the US dollar market, leading to 11 stocks advancing and 9 declining. Trading in the main market ended with 11,853,174 units valued at $109,266,700 changing hands compared to 5,146,243 units valued at just $51,796,808 at the close on Monday. Trading in the US dollar market accounted for 146,047 units valued at US$34,731.
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 4 with lower offers.
The main market ended trading with an average of 515,355 units valued at $4,750,726 for every security traded compared to an average of 197,932 units valued at $1,992,185 on Monday. The average volume and value for the month to date ended at 187,966 units with an average value of $4,045,663 compared with an average of 147,042 units with an average value of $3,957,530 on the previous trading day. The average volume and value for May ended at 358,008 units and $9,037,303.
In market activity, Berger Paints closed at $18.75, with a loss of 25 cents exchanging 1,220 shares, Cable and Wireless gained 4 cents to close at $1.20, with 129,607 stock units changing hands, Caribbean Cement closed at $27, with gains of 65 cents trading 2,000 shares, Grace Kennedy gained 10 cents and closed at $41, with trades of 51,742 units, Jamaica Broilers exchanged 20,471 shares at $18, Jamaica Producers closed at $14.50, with gains of 40 cents trading 38,624 units. Jamaica Stock Exchange traded 10,113,600 shares and closed 29 cents higher at $7.29, JMMB Group lost $1 to close at $19.50 trading 34,065 units, Mayberry Investments gained 5 cents to close at $4.55, with trades of 150,000 units, NCB Financial Group lost 27 cents to close at $71.23, after exchanging 67,138 shares, 1834 Investments closed at $1.30, with trades of 23,966 shares, 138 Student Living traded 1 cent lower to close at $4.48, with an exchange of 1,420 units. PanJam Investment closed at $34, after adding $1 in trading 28,130 shares, Pulse Investments gained 90 cents, closing at $17 trading 14,585 shares, Radio Jamaica closed at $1.65, losing 1 cent and exchanging 413,162 shares, Sagicor Group closed at $34.21, with a loss of 4 cents trading 46,714 shares, Sagicor Real Estate Fund traded 30 cents higher to close at $11 with 10,821 shares exchanged. Salada Foods lost $1, closing at $10 with 500 units changing hands, Scotia Group closed at $43.85, with gains of $1.25 exchanging 559,823 shares, Scotia Investments gained 50 cents to close at $37, trading 12,970 units, Seprod closed at $29.49, losing 1 cent and trading 4,257 shares while Supreme Ventures closed at $7.50, with 120,059 shares changing hands. Proven Investments lost 0.02 US cents exchanging 146,047 ordinary shares to close at 24 US cents and JMMB 7.5% preference share closed at $1.95, losing 5 cents with trades of 8,300 units.

Only gains on TTSE on Tuesday

In moderate trading on the Trinidad & Tobago Stock Exchange on Tuesday 13 securities changed hands compared to 12 on Monday with 2 stocks advancing, 11 holding firm and none declining. Tuesday’s gains disguise softness in the wider market as shown in the IC bid-offer Indicator, below.
At the close, trading volumes were ahead of Monday’s levels as 366,775 shares were exchanged at a value of $3,474,839 compared to Monday’s trades of 237,462 valued at $3,247,098.
The Composite Index added 0.07 points to 1,212.99, the All T&T Index gained 0.14 points to 1,791.85 and the Cross Listed Index remained at 84.99.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 2 stocks with bids higher than last selling prices and 9 with lower offers.
Gains| Angostura Holdings gained 1 cent to close at $15.01 with an exchange of 20,000 shares valued at $300,200 and Trinidad & Tobago NGL closed at $21.05, with gains of 4 cents while trading 730 units.
Firm Trades| Clico Investment exchanged 45,177 shares at $22.51 valued at $1,016,943, First Caribbean International traded 23,098 shares at $7.70 and Grace Kennedy closed at $2.80, with 7,500 shares changing hands. Guardian Holdings held firm at $16.20, with 50,000 shares traded at a value of $810,000, JMMB Group exchanged 24,074 shares at $1.27, NCB Financial Group closed at $4, with trades of 27,865 shares, the market closed with the bid at $4 to buy 359,230 units but there were no stocks on issue for sale. Republic Financial Holdings traded 1,570 units at $101.90, Scotiabank remained at $58 trading, with an exchange of 1,000 shares. Scotia Investments closed at $2.50, with 47,000 shares changing hands, West Indian Tobacco exchanged 1,336 units at $126.38 and Trinidad Cement closed at $4.15, with 117,425 shares traded at a value of $487,314.

Moderate trading continues on TTSE

Trading on the Trinidad & Tobago Stock Exchange remained subdued with moderate volume and few price changes on Monday. At the market’s close 12 securities changed hands compared to 13 on Friday, 1 stock advanced, 2 declined and 9 held firm.
At the close, 237,462 shares were exchanged at a value of $3,247,098 compared to Friday’s trades of 312,159 valued at $13,109,347.
The Composite Index gained 0.04 points to 1,212.92, the All T&T Index fell 0.53 points to 1,791.71 and the Cross Listed Index rose 0.09 points to 84.99.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 2 stocks with bids higher than last selling prices and 7 with lower offers.
Gains| Sagicor Financial advanced 14 cents, closing at $8.89 with trades of 160,498 shares valued at $1,420,807.
Losses| Massy Holdings closed at a 52 weeks’ low of $50.50, with a loss of 25 cents trading 6,990 shares valued at $352,995 and West Indian Tobacco traded 2 cents lower to close at $126.38 exchanging 23 shares.
Firm Trades| Berger Paints closed at $4.05 trading 200 shares, Clico Investment traded 5,080 shares at $22.51, First Caribbean International Bank closed at $7.70, with an exchange of 24,500 shares. Guardian Holdings remained at $16.20, with 29,396 shares traded at a value of $476,215, National Enterprises exchanged 150 shares at $10.50, National Flour Mills closed trading at $2.20, with 1,500 shares. Republic Financial Holdings closed at $101.90, with an exchange of 3,875 units valued at $394,862, Scotiabank remained at $58 trading 5,000 shares and Scotia Investments closed at $2.50, with 250 shares changing hands.

Berger returns to TOP 10

Shuffling of stocks in the TOP 10 list was quite pronounced this past week with two companies exiting and entering each list. Jetcon Corporation and CAC 2000 slipped out of the Junior Market TOP 10, and were replaced by Dolphin Cove and Lasco Financial.
Entering the TOP 10 main market list are Berger Paints, returning after a recent fall from the list and Grace Kennedy that dropped out previously.
In the main market of the Jamaica Stock Exchange, Scotia Investments earnings per share have been sharply reduced with the latest results for the half year showing no growth, with the stock falling off the TOP 10 list as a result, while Salada Foods price rose to $10, resulting in it being pushed off the list.
In trading last week, tTech demand is building while selling has eased with limited supply being shown in the market. Elsewhere, NCB Financial Group is hitching for a major breakout from a wedge formation.
As indicated in recent weeks, market movement continues to be constrained by near term resistance levels which is acting as short term restraint to a break out from current levels for the time being.
The average PE ratio for the Junior Market Top stocks is 7.4 and 7.2 in the main market, these compare favourably with 13.8 for the overall main market and 13 for Junior Market, based on 2017 estimated earnings. Several stocks are trading below the average, and have the potential for more gains for the rest of 2017, barring major negative developments.
In a number of cases, the TOP stocks will need to deliver results in the upcoming quarter in order to send a message that the potential they have will be manifested.
At the close of the week, IC Insider.com’s TOP 10 Junior Market stocks now trade at an average discount of 45 percent to the Junior Market average, while those in the main market are trading at a 48 percent discount, to the average of the market, leaving stocks with room for growth in the months ahead. At the end of April the reading was 35 percent discount for the juniors and 53 percent for the majors.

No progress for Scotia Investments

Scotia investments (SIJL) has been in transition for a long time from their original business based substantially on repos, to one based on pool funds. In the latter half of 2016 the company showed strong signs returning to pathway of growth but the latest half year results have put that on hold, at least for the time being.
A big part of the investment banker’s problem is the strangulation the Scotia Culture has placed on clients that is driving business away. Examples of this is the length of time it takes to place stock brokerage orders and its execution, or the inability now to get statement of accounts.
The company’s half year report, shows profit of $451 million for the period ended April 2017 compared to $457 million for the prior period, in 2016 from revenues of $2.3 billion, a reduction of $64 million in the corresponding period in 2016. The net profit for the second quarter to April this year, ended at $302 million, down from $339 million for the same quarter in 2016 from revenues of $1.14 billion compared to $1.19 billion in 2016.
SIJL earned 71 cents per share in the April quarter, down from 80 cents in the 2016 period and $1.07 for the half year compared to $1.08 in 2016. At the rate of growth for the half year, it looks as if profit for the full year should hoover around the $3.19 earned in 2016.
Total Comprehensive Income for the half year amounted to $546 million, compared to $663 million reported for the same period last year and for the quarter $454 million versus $468 million.
Total revenues for the six months from pool management funds fees grew 18 percent in the half year over that of 2016 while fees from pension and portfolio management, increased year over year by 34 percent.
Net Interest Income after impairment losses for the period was $685 million, a reduction of $60 million from $745 million in the corresponding period last year.
Other Revenue, comprising fee income, securities trading gains and net foreign exchange trading income, rose by $32 million to $866 million for six month period, above the same period last year, but was down slightly for the quarter to $463 million from $481 million in the previous year’s quarter.
Operating Expenses for the 2017 half year ended at $889 million, compared to $913 million for the corresponding period last year and $385 million for the April quarter versus $395 million in 2016.
Total assets stood at $67 billion at the end of April while financial assets under administration not included in the financial statements, amount $193 billion versus $169 billion in 2016
A dividend of 45 cents per share was declared payable July 20, 2017, the same amount being paid for some time. The stock traded at $36.50 on the Jamaica Stock Exchange on Friday.