Trading Activity — Page 923

TTSE: Trading picks up

June 8, 2013 by IC Insider.com

Thursday, 6th June 2013 | Trading picked up in Thursdays trading on the Trinidad & Tobago Stock Exchange with the advance decline ratio being positive. Thirteen securities changed hands of which 6 advanced, 2 declined and 5 traded firm, well above Wednesday’s trading, when only 4 companies traded. Three stocks traded at 52 weeks high at the end of trading.

Trading on the main market amounted to 584,217 shares valued at $4,741,343. Trinidad Cement traded 440,126 shares for a value of $418,120. Neal & Massy Holdings had a volume of 60,080 shares trading for $3,544,720. There was trading in 27,063 shares Sagicor Financial Corporation with a value of $170,512, while Guardian Media added 20,548 shares valued at $405,823.

Clico Investment Fund posted a volume of 33,186 shares valued at $704,072 while the price of the fund advanced by $0.17 to end at $21.22.

But by the end of trading, bids for 4 stocks were higher and 4 stocks had offers that were lower than the last selling price.

JSE: Trading levels up again

June 6, 2013 by IC Insider.com

Wednesday, 5th June 2013 | The main indices recorded advances in today’s trading except for a small decline in the junior market index. But advance decline ratio turned negative with 8 stocks advancing and 12 declining. But by the end of trading, bids for 10 stocks were higher and 1 stock had an offer that was lower than the last selling price. There was heavier trading than has happened for sometime with $127 billion being expended on 11.87 million shares.

The all Jamaica composite index closed up 174 points at 89,985.22 and the main market index closed at 88,466.47 up 98.67 points.

Main movers | Desnoes & Geddes which traded at $5.10 closed down 20 cents at $4.70 while trading 694,173 units, Carreras fell 70 cents in trading 23,568 units. Jamaica Broilers traded up 21 cents to close at $4.83 with 460,913 units having changed hands. Kingston Wharves traded 329,566 units and put on 19 cents in closing at $7.81 after trading as high as $8. Lasco Manufacturing saw profit taking, with 990,188 units trading closing at $13.85 down 15 cents on the day. National Commercial Bank traded 1 million shares and slipped back 10 cents at the close at $21.10, the stock traded down to $19.17 at one stage.

Pan Jamaican Investments traded 20,500 units and gained 51 cents and closed at $54.51. RJR had just two trades which accounted for 2.989 million units and inched up 5 cents to close at $1.35. Sagicor Life put on 48 cents in closing at $8.99 but only traded 65,152 units between $8.50 and the closing price. Scotia Group had 17 trades that accounted for 712,000 units between $21.20 and $23.50 with the stock closing at $21.51up 42 cents on the day. Scotia Investment had 5 trades that accounted for 1.29 million units with the stock closing at $25.50 down $4 but it had a bid of $27 at the end of trading. Seprod traded 527,000 units at $14.61 and gained 11 cents and Supreme Ventures saw 771,000 units being exchanged for 10 cents less at $2.90 by the end of the day.

Based on trades for a few stocks it appears that some special deals were done resulting in adjustments in the prices of some, which does not conform to recent market movements.

Filed Under: JSE Main Market, Stock Market Tagged With: Daily Trading, JSE Company, Trading Activity

TTSE: Stay as you are

June 6, 2013 by IC Insider.com

Wednesday, 5th June 2013 | As if to indicate that the increased trading activity on Tuesday was just a flash in the pan, investors seem to have sent a message that what happened then can’t be expected to continue.

As a result, the market pretty much gave back today what it gained in Tuesday’s increased trades. With the exception 316,443 shares of National Commercial Bank (NCB) which changed hands with a value of $379,732 there was little else to seriously brag about in market activity on the Trinidad & Tobago Stock exchange which was tepid at best. At the end of the days trading there were no price changes of any of the mere 4 securities that traded.

Trading activity on the main market involved 325,148 shares, valued at $634,160. Apart from NCB which accounted for the vast majority of the volume that traded, Sagicor Financial Corporation traded 6,781 shares valued at $42,788. Republic Bank contributed 1,924 shares with a value of $211,640. Also trading was 29,940 units of Clico Investment Fund at a value of $630,237.

At the end of trading 5 stocks bids were higher and 3 stocks had offers were lower than the last selling price.

Filed Under: Stock Market, TTSE Market Tagged With: Daily Trading, Trading Activity, TTSE

FX: US$ settles for now

June 5, 2013 by IC Insider.com

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Tuesday, 4th June 2013 | Trading levels moderated in the foreign exchange market with much less currency changing hands. The equivalent of US$27.9 million, were purchased and US$35.57 million sold. US$23 million were purchased at an average rate of $98.72 actually 16 cents less than on Monday and US$32.6 million sold at an average rate of $99.61, just one cent more than on Monday.

While the US dollar was pretty, dealers forked out $1.28 more on average for the Canadian dollar but they only sold it for 27 cents more than the day before and in the case of the Pound Sterling, it cost $1 more on both the buy and sell side to exchange the currency than on Monday.

Buying of Pound sterling and Canadian dollars exceeded the amounts that were sold for these currencies once again.

One US dollar was purchased as high as $100 and the highest sell rate stood at $104.49.

Filed Under: FX Market, Stock Market Tagged With: Daily Trading, FX Market, Trading Activity

JSE market bullish but paused

June 5, 2013 by IC Insider.com

Tuesday, 4th June 2013 | The market took a pause today with all the major indices declining as the day saw one of the highest levels of trading for sometime with 13.7 million shares trading with a value of $108 million. At the end of trading 5 stocks bids were higher and 1 stock had offers lower than the last selling price and 2 stocks reached 52 weeks highs.

Price changes | 14 stocks registered price appreciation and 8 declined on a day when 31 stocks traded. Price movements of note are Jamaica Broilers traded 1.55 million units and the price was down 38 cents, JMMB down 50 cents to $9 while there was another day of high trading in the stock with over 3 million units changing hands. National Commercial Bank traded 587,200 between 21 and $22 but closed 20 cents up at 21.20, Pan Jam shed $3 to close at $54 while 31,356 units traded and it was $2.92 up on Scotia Investments when 306,600 units traded between $27 and the closing price of $29.50.

Supreme Ventures traded nearly 2 million shares between $2.90 and $30 and gained 10 cents in the process.

Juniors | In the junior market, Access Financial Services up 41 cents to close back at $8 with a mere 2,700 shares trading, Lasco Distributors fell 90 cents to $14, while trading 47,000 units, Lasco Manufacturing closed at $14 down $1.35 while trading 69,500 units. The stock traded between $14 and $15.35 during the day.

Volume | Decent volumes came from General Accident, Gleaner, RJR, Sagicor Investments, Sagicor Life and Scotia Group.

Filed Under: JSE Main Market, Stock Market Tagged With: Daily Trading, JSE Company, Trading Activity

TTSE: Overall market activity up

June 5, 2013 by IC Insider.com

Tuesday, 4th June 2013 | Activity picked up some what on the Trinidad & Tobago stock exchange at above levels seen for the past few days with 14 securities trading of which 7 advanced, 1 declined and 6 traded firm.

The main market enjoyed a volume of 569,147 shares crossing the floor valued at $13,928,256. The Mutual Fund Market posted a volume of 33,620 shares valued at $707,701. Trinidad Cement traded 228,027 shares for a value of $217,616, ANSA McAL traded 185,290 shares for $12,455,194. Prestige Holdings accounted for 64,620 shares with a value of $604,197, while Jamaica Money Market Brokers added 54,057 shares valued at $30,793.

West Indian Tobacco Company climbed 89 cents to end the day at $111.00, an all-time high, but only had a mere 300 shares trading.

Although for the past few weeks there have been more advancing stocks to those that declined, market sentiments seem mixed as there is demand for some stocks but none for a number of them. This has been the case for weeks.

At the end of trading 4 stocks bids were higher and 4 stocks had offers lower than the last selling price.

Filed Under: Stock Market, TTSE Market Tagged With: Daily Trading, Trading Activity, TTSE

Big day in FX market

June 4, 2013 by IC Insider.com

Monday, 3rd June 2013 | It was a big day in the foreign exchange market today as selling out paced buying and the rates slipped with the US dollar close once more to the J$100 market with just 40 cents separating them on the sell side. In all, the total amount of currency traded amounted to the equivalent of US$46.5 million and they sold the equivalent of US$71 million.

US$42.7 million was purchased with US$69.1 million being sold. There was Can$1 million purchased with Can$691,000 sold. £1.66 million pounds were purchased and £1 million was sold. On average, it took 22 cents more to buy US dollars and selling took place at an average of 15 cents more. The authorised dealers bought the Canadian currency for 20 cents less on Monday that on Friday and they sold them at 13 cents more. For the Pound sterling dealers bought the pound at 72 cents more and sold for 11 cents more than on Friday. There was hardly any change to the highest and lowest rates for the US dollar. The Canadian dollar and the pound sterling mostly increased except for the lowest buying rate for the Canadian.

Filed Under: FX Market, Stock Market Tagged With: Daily Trading, FX Market, Trading Activity

JSE jumps as Scotia buys JMMB shares

June 4, 2013 by IC Insider.com

Monday, 3rd June 2013 | JMMB traded 4.57 million shares, all of which were bought by Scotia Investments for their own account and for clients except for 4,300 units bought by JMMB but sold from in-house for a client. Of the total amount of JMMB shares that traded, 2.7 million units traded at $9.50 each. The rest of the trades took place mostly at $9 per share. The stock traded up 50 cents for the day.

The All Jamaica Composite index closed up a strong 1,544.25 points to close 89,987.54 on day that saw 7.36 million units trading. The index closed at the highest level since January 8th this year when it closed at 89,699.10.

Stocks Gains | Jamaica Broilers traded up to $5 with 1.5 million shares changing hands. Kingston Wharves closed at 52 weeks high of $8, up 40 cents, while trading 10,000 shares on the day. Carreras and Grace Kennedy continued to be in demand, with the former trading 128,110 shares valued at $7.73 million while loosing 45 cents in closing at $60.45 and Grace trading 122,331 units valued at $7.35 million without a price change.

Junior market | The junior market was active with AMG Packaging trading 276,077 units in one trade with the stock closing up 10 cents at $4.15. Paramount traded 163,597 units while closing at an all time high of $3.60 up 20 cents. The stock closed with a bid of 559,806 units at $3.50 with no stock on offer which suggests that it will trade higher before long. Access Finance closed down 41 cents to $7.59 on very low volume, Blue Power traded up 71 cents to close at $7.52, an all time high, as 100,200 shares traded. All three Lasco companies traded but not heavily. Manufacturing closed at $15.35 off 4 cents from Friday’s close, Distributors fell slightly, by 10 cents and Financial Services gained 20 cents on Friday’s last traded price.

Advancing stocks greater | There was trading in 23 stocks on a day that was not all that active. The momentum of the market continues with advancing stocks continuing to be most dominant over declining ones 14 to 5. Four stocks traded at 52 weeks high including Proven ordinary which traded up 0.5 US cents to close at 11.5 US cents.

An indication of things to come can be seen from the bid and offers in relation to the last selling prices. At the end of trading there were 7 stocks with bids higher and only 1 stock with offer that is lower than the last sale price.

The main Market Index advanced by 877.17 points (1.00%) to close at 88,455.09.
The Select Index advanced by 48.71 points (2.00%) to close at 2,483.29.
The All Jamaican Composite was up by 1,544.25 points (1.75%) to 89,987.54.
The Junior Market Index advanced by 7.96 points (1.05%) to close at 767.89.
The Combined Index advanced by 900.62 points (1.00%) to close at 90,624.63.
The US Equities Index advanced by 3.57 points (4.54%) to close at 82.14.

Filed Under: JSE Main Market, Stock Market Tagged With: Caribbean Producers (CPJ), JSE Company, Trading Activity

TTSE: Caution still overwhelms

June 4, 2013 by IC Insider.com

Monday, 3rd June 2013 | Eight stocks traded on the Trinidad and Tobago exchange today, as four advanced and none declining in price by the end of trade. In another tepid trading session, 62,946 shares crossed the floor of the Exchange with a value of $897,156. Of the total amount traded, Angostura Holdings traded 46,840 shares with a value of $421,560 and NeaL & Massy traded 7,310 shares for $431,290.

In the mutual fund section Clico Investment Fund traded a volume of 10,400 shares valued at $218,920.

West Indian Tobacco traded at an all time high of $110.11 while gaining 5 cents with only 53 shares trading. At the end of trading, there were 5 stocks with bids higher and 5 stocks with offers that are lower than the last sale price.

Filed Under: Stock Market, TTSE Market Tagged With: Daily Trading, Trading Activity, TTSE

Is the FX market being manipulated?

June 3, 2013 by IC Insider.com

Friday, 31 May 2013 | The local foreign currency market seems odd at best. There is more buying by financial institutions than they are selling, to the extent that they are picking up the currency for less than the did yesterday but buyers form these institutions are buying at higher and higher rates. The amount of currency bought on Friday amounted to US$30.46 million and the equivalent of US$28.1 million were sold. For the entire week the authorized dealers bought $16.8 million more than they sold with only Monday being a day of sales exceeding purchases. The signals are at best conflicting.

Oblivious to some traders is the fact that the country’s central bank is using open market methods to mop up excess liquidity from the system. Additionally, although the IMF or some executive may say the Jamaican dollar is still overvalued and adjustments are needed is not to say that the currency needs to move in nominal terms. There are other methods that can get greater level of competitiveness in the system. One such is tax reform that can lower the cost of production if properly applied, another is to allow the recent tax package and the effect of government reducing their spending to have moderating effect on inflation and therefore improve the competitiveness of the currency.

Regardless the selling rate for the US dollar climbed today by 11 cents to close at J$99.45, the pound sterling climbed 97 cents to close at J$151.29 and the Canadian closed at $96.48 up just 6 cents. But while Jamaican were paying more for funds from the institutions that trade in foreign currencies the finance houses were paying the public less for the funds. In the case of the US dollar it was 3 cents less , 55 cents less for the Canadian and 34 cents less for the pound sterling. Is the public more knowledgeable than the banks and cambios?