First Citizens dominated trading on the Trinidad and Tobago Stock Exchange on Wednesday, accounting for $7 million of trades. The market closed with 11 active securities and the price of 3 stocks rose, with one at a new high, 1 fell and 7 remained unchanged.
At the close, activity ended with 488,982 shares changing hands valued at $10,645,968, the Composite Index ended with a rise of 0.79 points to 1,159.25, the All T&T Index declined 1.00 points to 1,947.54 and the Cross Listed Index gained 0.35 points to end at 48.81.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with bids higher than the last selling price and 7 stocks with offers that were lower.
Gains| First Citizens traded 199,910 units valued at $6,995,474 to close with a 2 cents gain ta $35, Grace Kennedy had 111,963 units valued at $447,852 changing hands at a 52 weeks’ high of $4, for a 38 cents gain and ended gaining of 1 cent, with 1,000 shares trading to close at $126.26.
Declines| The sole stock trading is Trinidad Cement that lost 15 cents to end at $4 with 25,878 shares.
Firm Trades| Clico Investments traded 44,900 shares valued at $1,021,532 to close at $22.75, JMMB Group traded 50,000 shares at 51 cents, National Commercial Bank traded 13,322 shares at $2.05, Republic Financial Holdings, the new entity holding shares in Republic Bank, ended with 10,658 shares valued at $1,192,534 changing hands at $111.89. Trinidad and Tobago NGL closed at $21 with 30,350 shares changing hands, valued at $637,350 and Unilever Caribbean ended with 1,000 shares trading at $68.49.
First Citizens dominates TTSE – Wednesday
Falling TTSE stocks still dominant – Wednesday
Massy Holdings ended at a new 52 weeks’ low on Wednesday
At the close, the Composite Index ended with a fall of 1.54 points to 1,160.59, the All T&T Index fell 2.99 points to 1,949.96 and the Cross Listed Index slipped just 0.01 points to 48.84.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 4 stocks with bids higher than the last selling price and 7 stocks with offers that were lower.
Gains| First Citizens Bank gained 1 cents while 150 shares changed hands, at $34.99, Guardian Holdings traded 10,493 shares with a gain of 3 cents to end at $13.10 and Unilever rose 5 cents with 1,146 units changing hands at a 52 weeks’ high of $68.25.
Declines| Agostini’s traded 18,360 shares with a value of $314,679 but lost 20 cents, to end at a 52 weeks’ low of $17, Massy Holdings traded 80,589 units with a value of $4,958,715 but lost 7 cents to end at a 52 weeks low of $61.53. National Enterprises closed with 2,510 shares changing hands, lost 2 cents, to close at a 52 weeks’ low of $16.37, Sagicor Financial lost 1 cent to close with 200 shares changing hands at $6.15.
Scotiabank with 3,615 shares closed at $61.99, Trinidad and Tobago NGL slipped 11 cents in trading 1,500 units to close at a 52 weeks low of $21 and West Indian Tobacco suffered a loss of 22 cents to close at $126 with 6,006 shares valued at $758,092 changing hands.Firm Trades| Clico Investments traded 18,172 units valued at $413,417 to close at $22.75, National Commercial Bank ended with 39,202 units changing hands at $2.10, National Flour had 8,995 shares changing hands, to close at $2.70, One Caribbean Media traded 50 shares at $22 and Trinidad Cement closed at $4.20 with 15,850 shares changing hands.
9 down on TTSE – Tuesday
Massy Holdings ended at a new 52 weeks’ low on Tuesday
At the close, the Composite Index ended with a fall of 1.82 points to 1,162.13, the All T&T Index fell 0.60 points to 1,952.95 and the Cross Listed Index slipped just 0.42 points to 48.85.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 3 stocks with bids higher than the last selling price and 9 stocks with offers that were lower.
Gains| Guardian Holdings traded 6,872 shares with a gain of 4 cents to end at $13.07 to be the sole stock rising, at the close of the market.
Declines| Agostini’s traded 13,500 shares with a loss of 4 cents, to end at a 52 weeks’ low of $17.20. Angostura Holdings ended with 200 shares changing hands with a loss of 1 cent at $13.97, First Citizens Bank ended with 520 shares changing hands, with a loss of 2 cents at $34.98, Massy Holdings traded 21,828 units but lost 6 cents to end at a 52 weeks low of $61.60.
National Commercial Bank ended with 100,000 units changing hands with a loss of 6 cents at $2.10, National Flour lost 1 cent with 250 shares changing hands, to close at $2.70, Republic Bank suffered a loss of 5 cents to close at $111.95 with 57 shares changing hands. Scotiabank with 5,535 shares closed at $61.99 having a loss of 1 cent and Trinidad and Tobago NGL slipped 11 cents in trading 1,830 units to close at a 52 weeks low of $$21.39.Firm Trades| Clico Investments traded 14,838 shares to close at $22.75, Guardian Media traded 288 shares at $19.76 and Unilever had 3,597 units changing hands at $68.20.
4 down on TTSE – Monday
JMMB Group was the sole stock that rose on TTSE on Monday
At the close, the Composite Index ended with a fall of 0.29 points to 1,163.95, the All T&T Index fell 0.86 points to 1,953.55 and the Cross Listed Index rose just 0.04 points to 49.27.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 3 stocks with the bids higher than the last selling price and 7 stocks with offers that were lower.
Gains| JMMB Group traded 10,000 shares with a gain of 1 cent to end at 51 cents.
Declines| Agostini’s traded 11,788 shares with a loss of 1 cent, to end at a 52 weeks’ low of $17.24.
Angostura Holdings ended with 704 shares changing hands and closed with a loss of 1 cent at $13.98, National Flour lost 3 cents with 3,250 shares changing hands, to close at $2.71 and Sagicor Financial lost 1 cent and ended with 44,373 shares changing hands at $6.16.Firm Trades|Ansa Merchant Bank traded 11,472 units valued at $446,949 to close at $38.96, Clico Investments traded 4,000 shares to close at $22.75, FirstCaribbean International Bank traded 45,588 shares and closed at $5 and Scotiabank with a volume of 9,255 shares closed at $61.66
New NCB high on TTSE – Wednesday
NCB closed at a new 52 weeks’ high on the TTSE on Wednesday
At the close, the Composite Index ended with a rise 0.46 points to 1,164.57 the All T&T Index fell 1.36 points to 1,955.19 and the Cross Listed Index gained 0.31 points to 49.21.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 2 stocks with the bids higher than the last selling price and 6 stocks with offers that were lower.
Gains| National Commercial Bank rose by 9 cents while trading 55,553 shares to close at $2.20 for a 52 weeks’ high.
Declines| Scotiabank ended with 2,276 shares with a fall of 50 cents changing hands at $62 and Trinidad Cement traded 6,479 units and closed at $4.50 after losing 5 cents.
Firm Trades| Clico Investment Fund posted 5,430 shares and closed at $22.75, First Citizens Bank traded 6,323 shares to close at $35, FirstCaribbean International Bank traded 30,000 shares and closed at $5. Grace Kennedy traded 2,255 units to end at $3.61, Guardian Holdings ended at $13.03 with 425 units changing hands, JMMB Group closed with 324 shares changing hands at 50 cents and Trinidad and Tobago NGL traded 55,755 shares valued at $1,198,733, to close at $21.50.
Cayman could be lucrative for Grace
Grace Kennedy Money Services will be expanding operations into the Cayman Islands through GraceKennedy Money Services (Cayman) Limited (GKMS Cayman), a member of the GraceKennedy Group and authorized agent of Western Union, CEO Don Wehby announced recently.
With this new market, Grace Kennedy through its money services subsidiaries now represents Western Union in ten countries across the Caribbean, the other nine being . Jamaica, Trinidad and Tobago, Guyana, St. Vincent and the Grenadines, St. Kitts and Nevis, Antigua and Barbuda, Anguilla and Montserrat and the British Virgin Islands. The market should be quite lucrative for the Grace Kennedy group, as it is the fourth largest country from remittances into Jamaica with US$124 million entering the island from the tiny group of island, according to Bank of Jamaica data, but the market could be a challenging the going forward with concern about money laundering within the region.
Scotiabank will be partnering with Grace Kennedy and Western Union to deliver money transfer services to the residents of the Cayman Islands.
GKMS Cayman will initially have a total of four locations in Grand Cayman and one in Cayman Brac, all opening Monday to Saturday. “There is a vibrant community in the Cayman Islands and we look forward to not only welcoming our new customers into the GKMS family, but working with all stakeholders and contributing to the development of their communities,” Allen added.
Scotiabank reports trades after 6 months
Little things sometimes mean a lot. The latest reported insider trades at Scotiabank in Trinidad may not be considered large but they are important. The posting of the trades on the Trinidad and Tobago Stock Exchange website of inside trades is not a refreshing development in the capital markets within the Caribbean.
According to the stock exchange they received notice from “Scotiabank Trinidad & Tobago (SBTT) that a senior officer of purchased 1,177 shares on January 23rd, 2015 and 899 shares on January 26th, 2015,” the notice was posted on June 29th, 2015.
Someone seems to have messed up here. The major reason for disclosure of such trades is to let investors know what insiders are doing with the shares of the company. Such actions can help determine if the fortunes of the company is changing one way or the other. To publish the information 6 months after they took place is unacceptable in what should be a modern capital market system.
The trades were important signal of financial development with the banking group that reported an 18 percent jump in profit for the April quarter and ought to have been reported much, much earlier.
Trading hits $3.17m on TTSE
Trading on the Trinidad Stock Exchange ended with 10 securities changing hands of which 1 advanced, 3 declined and 6 traded firm with a total of 138,581 units, valued at $3,166,752.
At the close of the market, the Composite Index lost 0.21 points to close at 1,160.78, the All T&T Index declined by 0.08 at 1,968.14 and the Cross Listed Index fell by a mere 0.05 points to end at 46.38.
Gains| Scotiabank trading 1,010 shares to close 4 cents higher at $62.20, is the only stock gaining at the close.
Declines| Massy Holdings traded 300 shares to close at $64.34 after losing 1 cent, National Enterprises declined 9 cents to end the day at a 52 weeks’ low of $17.10 while trading only 2,664 units and Sagicor Financial Corporation traded 15,237 shares, to close at $6.25 while losing 5 cents.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, ANSA Mcal with 9,222 shares with a value of $620,180 changing hands, ended at $67.25. 
CLICO Investment Fund traded 53,600 units in closing at $22.57, First Citizens Bank with 23,388 shares trading for $835,952 closed at $35.75, Flavorite Foods contributing 31,511 shares to close at $4.80, while National Flour had 1,672 shares to end at $2.05 and West Indian Tobacco closed 1,141 shares trading at $125.50.
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 4 stocks with offers that were lower.
Scotiabank T&T Q2 profit up 18%
Scotiabank Trinidad and Tobago released results showing net profit of $260 million for the six months ended 30 April 2015, an increase of $9.8 million or just 3.9 percent over the similar period in 2014. Most importantly, is not so much the half year number even as the show growth but the results of the April quarter with profits jumping 18.4 percent to $125 million from net revenues that is up by 17 percent to $347 million from $296 in 2014.
For the period, earnings per share, grew to 147 cents and was up to 71 cents in the quarter, versus 60 cents in 2014. For 2014 fiscal year to October, Scotiabank made earnings of $3.17, based on the latest they should exceed the 2014 results. Return on Equity (ROE) was 14.73 percent. Return on Assets fell slightly to 2.49 percent reflective of the continued spread compression being faced within the domestic economy.
Revenue comprising net interest and other income, was $702 million for the period ended April 2this year an increase of $51million over the same period last year. Net Interest Income for the six months to April, was $460 million, $21.3 million or 5 percent higher than for the 2014 period,
Other Income increased 14 percent for the six months to $242 million compared 2014. “The increase was driven by growth in our key segments Retail, Corporate and Commercial Banking and Insurance and complemented the strong asset growth” the bank said in a release to the Trinidad & Tobago Stock Exchange.
Total Non-Interest Expenses for the six months was $329 million, $18 million or 5.7 percent higher than 2014. Loan Loss Expense increased by $14 million when over the similar period in 2014.
Total Assets grew 6 percent to $21.4 billion at the end of April, with loans to customers ending the period at $12.7 billion an increase of $1.9 billion or 17 percent compared to 2014. Treasury bills holdings as at 30 April, 2015 totalled $1.7 billion which fell by $482 million when compared to 2014. Investment Securities grew by $731 million or 49 percent as the Bank moved to redeploy funds held in short-term instruments to higher yielding medium term instruments which became available in the market.
The bank will be paying a second quarter dividend of 40 cents per ordinary share, payable on 10th July 2015 to shareholders on record as at 11th June 2015. The stock traded on the Trinidad & Tobago Stock exchange on Wednesday at $62.54.
Scotiabank jumps to $63 on TTSE
Scotia traded up 49 cents to close at $63 on the TTSE Friday
At the close of the market, the Composite Index advanced by 4.83 points to close at 1,159.62, the All T&T Index added just 2.43 points to close at 1,970.86 and the Cross Listed Index increased by 0.97 points to end at 45.71
Gains| Stocks increasing in price at the close are, Massy Holdings had 5,411 shares changing hands, for a value of $345,492, to end 45 cents higher at $64, National Commercial Bank had 13,787 units changing hands, 15 cents higher at $1.65. Scotiabank contributed 38,143 shares, valued at $2,402,950 and jumped 49 cents to end at $63 and Unilever Caribbean traded 438 units and closed 3 cents up, at a new 52 week high.
Shares declining| Clico Investment Fund ended with 23,987 shares trading, valued at $541,037 but lost 5 cents to end at $22.55 and First Citizens Bank trading 604 shares to close at $35.80, after losing 5 cents.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, Guardian Holdings ending with 3,154 shares at $14.20, JMMB Group ended with 1,904 shares trading at 55 cents, National Enterprises traded 1,561 units at $17.30. One Caribbean Media ended with 219 shares changing hands at $22.30, Prestige Holdings closed with 265,096 shares valued at $2,650,980 trading to end at $10. Republic Bank added 10,614 shares valued at $ to close at $115 and Trinidad Cement ended up with 10,000 units at $2.80.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 with a lower offer.
