TTSE: Wednesday, 22nd May 2013

No aggression in trades | Market activity continues to meander along as traders nibble away at prices with very little changing from day to day. Wednesday’s trading session was no exception as price changes on the Trinidad & Tobago Stock Exchange were again moderate with the highest gain being 12 cents for Scotia Bank and the highest loss was 5 cents for Point Lisa Industrial Port Development.

There was trading in 16 securities of which 7 advanced, 4 declined and 5 traded firm. Main market volume was 665,031 shares valued at $6,596,902.44. Point Lisas Industrial Port Development Corporation traded 349,209 shares for a value of $1,239,942, followed by Angostura Holdings with a volume of 207,100 shares traded for $1,863,900, while ANSA McAL added 30,446 shares valued at $2,046,580. Clico Investment Fund traded 6,860 shares for a value of $109,332.

An indication of market sentiment is to be found in the both the advance/decline ratio which has been positive for several trading days as well as in the number of stocks closing with bids above last selling price or the offer below the last selling price. At today’s close there were 5 stocks with bids higher than the last selling price and 4 with offers below. One stock traded at a new 52 weeks high.

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FX: Tuesday, 21 May 2013

Buying exceeds selling | Trading in the foreign exchange market saw the equivalent of US$33.2 million being purchased and US$30.05 million were sold.

USD | The selling rate for the US dollar, however, slipped from Monday’s close to end at J$99.036 as US$28.5 million were sold and US$30.4 million were bought at J$98.4952, slightly lower than Monday’s buying rate of J$98.428. The highest selling rate for the US dollar remains over J$104 while the lowest is at $81.16 and the highest buying rates ended at J$99.17 and the lowest JS$81.33.

GBP | Sale to authorized dealers of pound sterling amounted £1.34 million at an average of J$148.51 (Monday was J$147.63) while dealers sold £0.64 million at an average of J$150.74 compared to Monday when it was sold at J$151.36.  The Pound was sold at a high of $156.92 and a low of $146.45, the highest buying price was J$151 and the lowest buying was at J$121.72.

CAD $ | Can$0.673 million were bought at an average of J$94.54 lower that the J$94 it averaged out on Monday. The amount sold was Can$0.337 million at an average rate of J$97.07 lower than Monday’s rate of J$96.3. The Canadian dollar was bought at a high of J$96.80 and a low of $77.44 and was sold at a high of J$99.83 and a low of J$92.40.

FX_TRADE+Currency+May21

FX_TRADE+HighLow+May21

TTSE: Tuesday, 21st May 2013

Trading on the T&T Stock Exchange continues with a number of stocks recording moderate activity and price changes as has been the case for a number of trading days from last week. At the end of trading, 12 securities changed hands of which 3 advanced, 4 declined and 5 traded firm on a day when the volume of trading was low at 364,642 units.

The main market saw a volume of just 332,774 shares trading, valued at $10,791,913. Prestige Holdings had 147,500 shares changing hands for a value of $1,379,125, followed by ANSA Mcal with 111,500 shares traded for $7,495,030. Angostura Holdings contributed 23,100 shares with a value of $207,900, while 17,000 shares for National Flour Mills traded valued at $13,700. Clico Investment Fund traded 31,868 shares valued at $670,276 as the price advanced $0.02 to end at $21.03.

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JSE | Tuesday, 21 May 2013

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Pan Jamaica Investment Trust stock jumped $4.08 today to close at $57.60 back to the level it traded at prior to the NDX debt exchange of Government of Jamaica bonds in February this year. Pan Jamaican traded 75,651 units valued at $44.1 million. Grace Kennedy followed up with a gain of $1.75 with the stock getting back to its recent high of $60 while trading just 5,861 shares.

The Jamaican stock market put in a splendid performance today with 27 stocks trading valued $112,141,197 as 21.8 million shares changed hands. Sagicor Investments, accounted for 5.378 million units with a value of $83.55 million, all of the shares were sold and bought within Pan Caribbean brokerage house. Consolidated Bakeries traded over 12.3 million units worth $11.94 million. NCB Capital markets bought 12.11 million units at 90 cents for clients. Mayberry Investments traded 2.068 million units valued at $4.18 million on a day when the number of advancing stocks were in excess of declining ones, almost 3 to 1 as 15 advanced versus 6 declining.

MoneyKeyboard150x150At the end of trading, 8 stocks closed the day with bids higher than the last selling price. There were none with offers lower than the last sale price. One stock made 52-week high as Caribbean Cream, the new listing on the junior market, gained 14 cents to close at $1.15 up 15 percent on the IPO price with 60,000 units trading today. At the end of trading, there were more than 400,000 units on the bid between 94 cents and $1.06 and 265,000 on offer at $1.15 to $1.20.

Other stocks that had noticeable price movements were, Access Financial down 50 cents to $7.50, Blue Power off 55 cents to $6.05, Carreras down 38 cents to $57.52. JMMB climbed 45 cents to $7.50, NCBJ up 35 cents to close at $18.89 as 130,191 shares traded having traded as high as $19. Seprod shed 48 cents and closed at $14.52 on very small volume of 1,500 units.

At the end of trade, the main market index put on 297.88 points closing at 85,693.25 and the All Jamaica Composite closed over the 85,000 mark the first time since early February when it closed at 85,325, today it closed at 85,125. The main market index closed at the highest point today, since it closed at 85,693 on March 6th this year.

The positive advance decline ratio coupled with the number of stocks with bids above last selling price are two factors that say this market is heading higher.

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T&T Govt bond heavily oversubscribed

The auction of the Government of Trinidad and Tobago $1.0 billion 7-year 2.60% bond due 2020 was heavily oversubscribed with total bids received amounting to $2,754.903 million. The bonds are to be dated May 21, 2013.

The bond was allotted at a premium with a clearing price of $104.23 per $100.00 face value, offering investors a yield to maturity of 1.95 per cent. Bids at $104.23 were pro-rated to allocate approximately 47 per cent of the amount applied for at this price, while competitive bids submitted at a price lower than this ($104.23) were rejected. Successful competitive bidders, as well as non-competitive bidders, will be required to pay the clearing price for the bond.

The high level of oversubscription and the low interest rate being received by investors indicates that there is still a bit of excess liquidity in that market.

FX: Monday, 20th May 2013

Robust FX trading | The foreign exchange market enjoyed high levels of trade on Monday with the equivalent of US$39.9 million being purchased and US$31.7 million sold. This contrast with last week’s Monday’s trade in which US$47.3 million were purchased and US$50.4 million were sold.

USD | The selling rate for the US dollar slipped from Friday’s close to end at J$99.9592 (Friday J$98.9885) as US$29.64 were sold and US$37.1 million were bought at J$98.428, slightly higher than Friday’s buying rate of J$98.4244.

GBP | £1.24 million were sold to authorized dealers by the public, at an average of J$147.63 while dealers sold £0.71 million, at an average of J$151.3622.  On Friday last, the selling rate was J$150.29, $1.06 less.

CAD | Can$0.84 million were bought at an average of J$94, $1.34 less decline from Friday’s rate of J$95.34. Can$0.46 million were sold on Monday at an average rate of J$96.3, slightly lower than Friday’s trades which took place at J$97.15.

FX_TRADE+HighLow+May20

FX_TRADE+Currency+May20

JSE: Monday, 20th May 2013

Advancing stocks out-do declining ones again Trading picked up today as 4,114,189 units valued at over $67,585,621 were traded. National Commercial Bank 1,037,700 units valued at $19.6 million, Pan Jam traded 400,000 units at a value of $421.4 million, Carreras traded 220,989 units valued at $12.667 million, Dolphin Cove  with 816,710 units amounting to $6.6 million, Lasco Financial Services chipped in with 376,000 units valued at $3 million and General Accident Insurance Company with 505,500 units with value of $900,000. The movement and demand for the Lasco Financial shares comes against the background of earnings that are expected to be much higher than last year and should be released late this week or early next.

Major price movements were Grace falling $1.75 to $58.25, Kingston Wharves up 35 cents to close at a 52 weeks high of $7, Lasco Financial up 30 cents to $8.10 a 52 weeks high, NCB losing 44 cents to $18.55 and Scotia Investments down 50 cents to $23.50.

There was a positive advance/decline ratio of 12 to 5 thus maintaining the mildly bullish trend seen in the last 2 weeks. Supply of stocks at current price levels for the more attractive stocks are proving harder to come by suggesting that buyers will need to up their bid prices if they are to get the quantities they want. The number of stocks with bids above their last sale continue to show up in the market, an indication that sellers not prepared to sell as low as the last selling prices.

The JSE indices moved up moderately with two reflecting no change as no stocks associated with them traded.

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TTSE: Monday, 20 May 2013

Lackluster trading | And so it was on a day when a mere 8 securities changed hands with 1 advancing, 2 declined and 5 traded firm accounting for just 140,368 units at a value of TT$3.4 million. The market continues to reflect a scenario of stocks in demand but there are no visible sellers and on the other hand there are some stocks that investors want sold but the buyers are not in any haste to buy them at the prices they were last sold at.

Scotia Investments Jamaica was the volume leader with 11,250 shares changing hands for a value of $19,125. Conglomerate ANSA Mcal chipped in with 8,300 shares worth $557,926. Sagicor Financial Corporation contributed 1,980 shares with a value of $13,622, while West Indian Tobacco Company saw 1,972 shares changing hands for a value of $217,019.

Clico Investment Fund suffered the day’s greatest loss, falling $0.06 to close at $21.01 as it traded 123,661 shares valued at $2,597,636.

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TTSE: Friday, 17th May 2013

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JSE: Friday, 17th May 2013

Markets poised for a big run soon? | Advancing stock far outnumbered declining ones as the Jamaica Stock market continues on a bullish note. Fourteen stocks gained to only 4 that declined. Twenty six stocks traded in all.

The market has crossed over a major resistance level just under 85,000 points. Based on market sentiments currently and the shortage of some stocks, it seems only a matter of time for a major breakaway from the current level to take place. That break out could well be next week.

Caribbean Cream trades 1m shares | Newly listed junior market Caribbean Cream traded more than 1 million shares after the stock started trading. Two blocks of 500,000 units were traded at the IPO price of $1. Later in the morning 7,000 units traded at $1.01 the last traded price for the day. At the close, there were 4 orders to purchase 136,445 at $1 and two orders to sell 2,000 units at $1.15 and one order to sell 150,000 units at $1.25.

jse_logo150x150Elsewhere Consolidated Bakeries traded 1.079 million units as low as 90 cents each and Supreme Ventures traded 3.87 million units between $2.75 and $2.95 each. The stock last traded at $2.95. Scotia Group traded 228,455 units while closing down to $20.20 shedding $1.40 in the process. Dolphin Cove traded 249,200 and closed trading at $8.10 and General accident chipped in with 228,187 units valued at $2 million. The stock gained 1 cent. With the company’s first quarter results showing profit gains of 65 percent, demand has come in for it. Proven Preference shares traded 1.4 million units valued at $7 million as investors seek out higher yielding instruments than regular money market ones.

Blue Power traded at $6.80 up 80 cents, it along with Caribbean Cream, traded at all-time highs today. Grace Kennedy which traded at $60 up $2 and Kingston Wharves traded at $6.65 closed at 52 weeks’ highs. Jamaican Producers traded up $2.20 to close at $18.70 but at the end of trade the stock was offered for sale at $17, only 5,000 units traded. National Commercial Bank gained 49 to close at $18.99 on 8,000 units that traded.

Trading took place with 8.4 million units trading at a value of $30 million.

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