Scotiabank seems to have hit bottom, with good buying coming into the market on the first trading day of November, pushing the price up by a small amount. IC insider has elevated the stock to BUY RATED status. At the close, there was 18,922 units on the bid to buy at $58 and a small volume to sell, at $59.50.
Trading on the Trinidad Stock Exchange ended with 15 securities changing hands, of which 5 advanced, 2 declined and 8 traded firm, ending with a total of 666,624 units, valued at $6,731,903.
At the close of the market, the Composite Index rose 0.73 points to close at 1,146.77, the All T&T Index gained 0.91 points to close at 1,963.23 and the Cross Listed Index fell / increased by 0.07 points to end at 43.29.
Gains| Stocks increasing in price at the close are, Guardian Holdings added 53,950 shares valued at $733,720 to end 9 cents higher at $13.60, Massy Holdings traded 43,706 shares valued at $2,996,483 to close with a gain of 2 cents to end at $68.56, Sagicor Financial Corporation traded 60 shares valued at $6.19 to close with a gain of 14 cents Scotiabank gained 2 cents to $58 while trading 13,544 units valued at $785,552 and seems to have clearly bottomed and West Indian Tobacco gained 23 cents to end the day at $119 while trading 2,425 units.
Declines| The stocks declining at the end of trading are, One Caribbean Media with 367 shares ended at $25.12 after losing a cent and Trinidad Cement with 144,893 shares traded for $289,858 closed at $2 after dropping 3 cents
Firm Trades| Stocks closing with prices unchanged at the end of trading are, ANSA McAL with 685 shares closed unchanged at $66.17, Clico Investment Fund with 13,280 shares valued at $293,488 remained at $22.10, First Citizens Bank traded 13,331 shares to close at $36.75, Grace Kennedy contributed 128,489 shares with a value of $494,680 to end at $3.85, Jamaica Money Market Brokers traded firm at 45 cents after trading 1,038 units, National Commercial Bank with 200,000 shares changing hands for a value of $200,000 and closed at $1, National Enterprises traded 2,056 shares to close unchanged at $17.50 and Scotia Investments closed at $1.40 with 48,800 units changing hands.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 2 stocks with the bid higher than their last selling prices and 1 stock with the offer that was lower.
Scotiabank bottoms looking up on TTSE
October down, better in November
The Jamaica Stock Exchange, closed October with the prices of 5 stocks rising and 5 declining as 21 securities changed hands, ending in 1,856,647 units trading, valued at only $6,072,425, in all market segments. The market closed out the month slightly lower than it started at, measured by the market indices, but technical indicators as well as fundamentals, point to a better out turn for November.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator showed 13 stocks with bids higher than their last selling prices and 6 stocks with offers that were lower. With Friday being the close of the month, the stronger closing bids are likely engineered by fund managers’ interest in boosting the value of stocks in their portfolios to boost the end of month performance and is worth watching in the coming days.
Main Market| The JSE Market Index lost 98.56 points to 71,706.29 and is down from the 72,238.36 points, September closed at. The JSE All Jamaican Composite index fell 110.21 points to close at 78,888.89 down on the close of September at 79,483.81 and the JSE combined index declined by 95.70 points to close at 73,559.56 compared to 74,034.71 at the end of September.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Ciboney with 100,000 shares trading, rose 1 cent to 8 cents, Desnoes & Geddes traded 36,000 shares, 15 cents higher at $4.95, Grace Kennedy had 21,330 shares changing hands 76 cents higher at $58, Jamaica Broilers exchanged 4,000 shares at $4.15 as the price closed with 5 cents gain and there was dealing in 2,100 Sagicor Group shares to close 1 cent higher to $9.66.
Firm| The stocks in the main market to close without a change in the last traded prices are, Carreras with 10,050 ordinary shares trading closed at $34.50, Gleaner had 80,708 units trading and closed at $1.05, Proven Investments with 3,650 shares at 18 US cents, Salada Foods with 1,000 shares closed at $7.85 and Supreme Ventures 40,800 shares traded to end at $1.70
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Jamaica Money Market Brokers had 7,596 ordinary shares changing hands 5 cents lower at $7, followed by National Commercial Bank with 6,000 units as 30 cents were shed to end at $17 and Scotia Group ended trading with 635 units, 15 cents cheaper at $19.60.
Preference| traded units at Jamaica Money Market Brokers 8.50% preference share traded 11,000 units at $3.43, Jamaica Money Market Brokers 8.75% preference share traded 981,568 units at $3 and Proven Investments 8% preference share traded 9,616 units at $5.
7 stocks up but Republic drops 75c
Trading on the Trinidad Stock Exchange closed with 16 securities changing hands of which 7 advanced, 4 declined and 5 traded firm, with a total of 244,650 units, valued at $9,307,775 trading.
At the close of the market, the Composite Index fell by just 0.49 points to close at 1,146.04, the All T&T Index rose 0.22 points to close at 1,962.32 rose and the Cross Listed Index fell 0.16 points to end at 43.22.
Gains| Stocks increasing in price at the close are, ANSA McAL added 11,518 shares valued at $762,135, to gain 2 cents to $66.17, Ansa Merchant Bank closed at a new 52 weeks’ high of $39.42, up a cent while 5,260 shares changed hands, Guardian Holdings gained a cent to close at $13.51 while trading 9,271 units, One Caribbean Media ended with a 1 cents increase to $25.13 with 500 shares, Trinidad Cement put on a cent to end at $2.03 with 5,600 units, Unilever was up 4 cents to close at a new 52 weeks’ high of $64.19 while 5,808 units changed hands with a value of $372,815 and West Indian Tobacco gained 16 cents to end the day at $118.77 as 4,110 shares were traded valued at $488,144.
Declines| The stocks declining at the end of trading are, Massy Holdings traded 11,000 shares valued at $753,940 to close at $68.54 with a loss of 1 cent, Republic Bank with 27,285 shares being traded for $3,293,884 shed 75 cents to $120. Sagicor Financial contributed 27,078 shares, valued at $163,909 but fell 20 cents to close at $6.05, for a new 52 weeks’ low and Scotiabank traded 6,125 shares valued at $355,127 to close with 1 cent loss at $57.98 a new 52 weeks’ low.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, Clico Investment Fund with 98,100 shares valued at $2,168,010 remained at $22.10, Firstcaribbean International Bank 645 shares to end at $5.50, First Citizens Bank traded 1,500 shares at $36.75, National Enterprises with 30,550 shares changing hands for a value of $534,325 closed at $17.50 and National Flour Mills with 300 shares ended at $1.10.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 4 stocks with the bid higher than their last selling prices and 3 stocks with offers that were lower.
Trading in only 8 main market stocks
Thursday’s activity on the Jamaica Stock Exchange, resulted in the prices of 3 stocks rising and 8 declining as 17 securities changed hands, ending in 3,395,725 units trading, valued at $14,458,959, in all market segments.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had 4 stocks with bids higher than their last selling prices and 6 stocks with offers that were lower.
Main Market| The JSE Market Index gained 147.24 points to 71,804.85, the JSE All Jamaican Composite index rose 164.64 points to close at 78,999.10 and the JSE combined index gained 108.17 points, to close at 73,655.26.
Gains| Stocks gaining at the last traded prices, at the end of trading in the main market are, Mayberry Investments with 10,000 shares changing hands, gained 10 cents to $1.50 and Scotia Group trading 411,651 shares as the price gained 64 cents to $19.75.
Firm| The stocks in the main market to close without a change in the last traded prices are, Cable & Wireless with 2,297,611 shares closed at 28 cents, followed by Grace Kennedy’s 244 shares at $57.24 and Sagicor Group 20,000 units at $9.65.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Carreras had 11,692 shares trading, with 10 cents fall to $34.50, Jamaica Broilers exchanged 7,661 shares with a loss of 6 cents to $4.10 and National Commercial Bank with 243,752 units closed 65 cents higher at $17.30.
Only 8 securities traded in Trinidad
Only 8 securities traded on the Trinidad Stock Exchange on Thursday, 1 advanced, 1 declined and 6 traded firm resulting in a total of 33,413 units changing hands, valued at $1,796,156. At the close of the market, the Composite Index rose 0.01 points to close at 1,146.53, the All T&T Index edged up 0.02 points to close at 1,962.10 and the Cross Listed Index remained at 43.38.
Gains| Trinidad Cement inched up a cent to $2.02 while trading 1,000 shares to be the sole stock to gain in price.
Declines| The only stock declining at the end of trading is Scotiabank with 1,000 shares, fell 1 cent to close at $57.99 to a new 52 weeks’ low.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, Agostini’s traded 284 shares at $17.34, Clico Investment Fund with 9,160 shares valued at $202,436 closed at $22.10, First Citizens Bank traded 869 shares to close at $36.75, Guardian Holdings contributed 3,100 shares to end at $13.50, National Commercial Bank with 6,000 shares closed at $1 and Republic Bank with 12,000 shares changing hands for a value of $1,449,000, ended at $120.75.
With results being released for the September quarter and the end of the year nearing, financial information may be forthcoming that could result in more interest in some of the stocks. The number of stocks with bids higher than their last sale prices is in keeping with the above.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator was showing a moderately bullish signal as had 6 stocks closed with bids higher than their last selling prices and 1 stock with the offer that was lower.
8 up & 9 JSE stocks down Wednesday
Wednesday’s activity on the Jamaica Stock Exchange, resulted in the prices of 8 stocks rising and 9 declining as 24 securities changed hands, ending in 1,412,626 units trading, valued at $4,275,609, in all market segments.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had 5 stocks with bids higher than their last selling prices and 7 with offers that were lower.
Main Market| The JSE Market Index gained 91.59 points to 71,657.61, the JSE All Jamaican Composite index rose 102.42 points to close at 78,834.46 and the JSE combined index gained 91.20 points to close at 73,547.09.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Caribbean Cement with 62,500 shares changing hands, closed 20 cents higher at $2.40, Jamaica Broilers exchanged 12,260 shares, 1 cents higher at $4.16, Jamaica Money Market Brokers with 214 ordinary shares trading, rose 5 cents rise to $7.05, National Commercial Bank saw trading in 19,401 shares as the price ended with a 40 cents gain, to $17.95, Radio Jamaica 27,916 shares ended with the price rising 5 cents to $1.20 and Sagicor Group had 32,554 shares changing hands 5 cents higher at $9.65.
Firm| The stocks in the main market to close without a change in the last traded price are, Carreras with 4,520 shares and closed at $34.60, Mayberry Investments had 2,040 shares trading to end at $1.40, Salada Foods had 20,000 shares trading to close at $7.85, Scotia Group with 21,100 shares changing hands ended at $19.11 and Seprod closed with 114,269 shares at $11.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Cable & Wireless with 174,393 shares, closing a cent lower at 28 cents, Desnoes & Geddes with 50,000 shares, lost 18 cents to $4.80, Gleaner closed with 13,994 units changing hands, 5 cents lower at $1.05, Grace Kennedy with only 240 units, ended down 76 cents to $57.24, Pan Jamaican Investment had only 1,000 active shares, but lost 15 cents to end at $49.05 and Supreme Ventures ended with 3,500 units with a loss of 2 cents at $1.70.
Preference| Jamaica Money Market Brokers 8.75% preference share traded 83,412 units at $3 and Jamaica Money Market Brokers 7.25% preference share traded a mere 970 shares, closed with a cent loss, at $2.49.
14 stocks traded on TTSE
Trading on the Trinidad Stock Exchange ended with 14 securities changing hands, of which 3 advanced, 1 declined and 10 traded firm with a total of 496,344 units, valued at $1,150,956. At the close of the market, the Composite Index lost 0.04 points to close at 1,146.52, the All T&T Index fell by 0.07 just points to close at 1,962.08 and the Cross Listed Index remained unchanged at 43.38.
Gains| Stocks increasing in price at the close are, Unilever Caribbean with a 4 cents gain to $64.15 after trading 133 units to close at a new 52 week’ high, National Commercial Bank with 450,000 shares changing hands for a value of $450,000 closed 2 cents higher at $1 and West Indian Tobacco put on 5 cents to end at $118.61 while trading 300 shares.
Declines| The only stock declining at the end of trading is, One Caribbean Media added 4,235 shares valued at $106,383, falling 13 cents to end at $25.12.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, Angostura Holdings with 8,137 shares valued at $101,713, traded at $12.50, Clico Investment Fund with 2,970 shares valued at $65,637 ended at $22.10, First Citizens Bank had 1,940 shares trading to end at $36.75, Guardian Holdings had 3,000 units trading at $13.50, Massy Holdings traded 2,134 shares at $68.55, National Enterprises 302 shares ended at $17.50, National Flour Mills 1,000 closed at $1.10, followed by Scotiabank traded 1,547 shares at $58 and Scotia Investments with a volume of 20,646 shares being traded at $1.40.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 4 stocks with the bid higher than their last selling prices and only 1 stock with the offer lower.
5 up 4 down on JSE
Tuesday’s activity on the Jamaica Stock Exchange, resulted in the prices of 5 stocks rising and 4 declining as 20 securities changed hands, ending in 2,144,368 units trading, valued at 12,272,863.83, in all market segments.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had 6 stocks with bids higher than their last selling prices and 10 stocks with offers that were lower.
Main Market| The JSE Market Index lost 76.43 points to 71,566.02 the JSE All Jamaican Composite index declined 85.47 points to close at 78,732.04 and the JSE combined index gained declined by 46.84 points to close at 73,455.89.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Jamaica Broilers exchanged 29,600 shares and rose 15 cents to at $4.15, Jamaica Producers with 13,114 shares as the price ended a cent higher at $15.51.
Firm| The stocks in the main market to close without a change in the last traded prices are, Berger Paints had 22,799 shares trading at $1.60, Cable & Wireless with 40,855 shares changing hands ended at 29 cents, Jamaica Money Market Brokers had 15,100 ordinary shares changing hands at $7, National Commercial Bank with 422,293 shares traded at $17.55, Proven Investments had 7,000 units to close at 18 US cents, Sagicor Group 7,084 shares closed at $9.60 after trading as high as $10 earlier in the day, Sagicor Real Estate Fund with 16,000 units closed at $6.65, Scotia Investments with 555 shares at $21.40 and recently listed Sterling Investments with 100 shares changing hands, closed at $134.
Declines| The only stock with losing at the end of trading in the main market is, Scotia Group with 52,894 shares to close with a loss of 29 cents at $19.11.
Preference| Jamaica Money Market Brokers 8.75% preference share traded 691,050 units at $3 and Proven Investments 8% preference share traded 6,000 units at $5.
Republic trades big but Is Scotia bottoming?
Scotiabank traded nearly 30,000 shares on the Trinidad Stock Exchange on Tuesday, making it the fourth largest trade since 236,520 units were traded on May 22 at $70, just before the bank released its six months result, showing a sharp fall in profit for its second quarter. Prior to today’s trade, Scotia traded 200,069 units at $68.94, on July 9 and 40,719 shares on July 31, at $66.74 each.
The next closest volume, was a trade of 25,042 units at $60.80, on September 25. The amount traded today has been on offer from October 24 at $58. The big question, is the end of the decline from $70 which started in May, coming to an end? At the close there was a bid to buy only 100 units at $57.50 and a small offer to sell 317 units at $58. The PE ratio of the stock is just over 16 times this year’s earnings, and is close to Republic Banks PE, suggesting that the decline may not have long to run, but buying ahead of the October year end results, may be tempered while the release is pending. Regardless, Investors should be putting this one on their Watch List, now that the price has declined a fair amount.
The Market closed with 14 securities changing hands of which 2 advanced, 3 declined and 9 traded firm, with a total of only 261,908 units, valued at $15,296,503, with Republic accounted for $12 million of the trade, down from Mondays $15.7 million.
At the close of the market, the Composite Index lost 0.62 points to close at 1,146.56, the All T&T Index fell by 1.25 points to close at 1,962.15 and the Cross Listed Index remained unchanged at 43.38.
Gains| Trinidad Cement had 3,949 shares trading, gained 1 cent to end at $2.01 and West Indian Tobacco climbed 4 cents to end the day at $118.56 while trading only 50 shares. The company announced an increased final dividend for 2014 of $1.39, up from $1.07 last year.
Declines| The stocks declining at the end of trading are, Angostura Holdings that added 9,627 shares valued at $120,338 to end with a fall of 3 cents at $12.50, First Citizens Bank traded 6,519 shares to close with a loss of 5 cents at $36.75, Republic Bank with 100,076 shares changing hands for a value of $12,084,190, suffered a loss, of 35 cents to close at $120.75.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, Ansa McAL with 3,525 shares to close at $66.15, Clico Investment Fund with 29,360 shares valued at $648,856 to end at $22.10, Guardian Holdings contributed 5,812 shares at $13.50, Jamaica Money Market Brokers with 50,000 shares being closed at 45 cents, Massy Holdings traded 386 shares at $68.55, One Caribbean Media with 1,150 units, closed at $25.25, Praetorian Property Mutual Fund traded 20,000 units to remain at $3.40, Prestige Holdings closed at $9.55 after trading 1,906 shares and Scotiabank contributed 29,548 shares with a value of $1,713,784 to end at $58.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 3 stocks with the bid higher than their last selling prices and 2 stocks with offers that were lower.
Lousy Monday trading on JSE
Monday’s activity on the Jamaica Stock Exchange, sank to a low level with only 526,642 units trading, valued at just $2,883,385, in all market segments. At the close the prices of 5 stocks rose and 9 declined as 21 securities changed hands.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had 4 stocks with bids higher than their last selling prices and 7 stocks with offers that were lower.
Main Market| The JSE Market Index fell 23.45 points to 71,642.45, the JSE All Jamaican Composite index declined 26.22 points to close at 78,817.51 and the JSE combined index dipped 65.01 points to close at 73,502.73.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Carreras with 17,100 shares trading, gained 10 cents to $34.60, Desnoes & Geddes rose 28 cents to $4.98 in trading 1,000 shares, Grace Kennedy exchanged 9,580 shares at $58, rising by 5 cents and Sagicor Group had 9,850 shares changing hands, 10 cents higher to $9.60.
Firm| The stocks in the main market to close without a change in the last traded prices are, Cable & Wireless with 11,500 units at 29 cents, Ciboney’s 211,200 shares traded to close at 7 cents, Jamaica Broilers 7,200 units at $4, Mayberry Investments with 12,550 shares closed at $1.40, Proven Investments with 16,950 shares ended at 18 US cents and Radio Jamaica had 2,040 units changing hands at $1.15.
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Kingston Wharves with 1,230 ordinary shares traded 40 cents lower at $5.10, National Commercial Bank closed with 5,850 units trading after slipping 25 cents to $17.55, followed by Pan Jamaican with 2,000 shares, and closed down 80 cents at $49.20, Sagicor Real Estate Fund traded 3,000 shares, and closed with a loss 35 cents at $6.65 and Scotia Group had 35,184 shares changing hands and ended 10 cents lower at $19.40.
Preference| Jamaica Money Market Brokers 7.50% preference share traded 5,000 units at $2.