Trading Activity — Page 938

TTSE: First Citizens’ big market boost

September 19, 2013 by IC Insider.com

Thursday, 19th September 2013 | The Trinidad stock market got a big boost on Thursday as the newly listed First Citizens traded as high as $38.45 before retreating to close the day at a last traded price of $34.99 as 579,203 shares changed hands for a value of $21,772,102. At the current closing price, the PE is just over 23 times this year’s earnings, slightly above Scotia Bank’s valuation, suggesting that this level may result in some fluidity in the price. At the close, there are offers for just under 23,000 units at $34.99 and the bid, which was small, was at $34.

The market saw trading in 10 securities of which 5 advanced, 1 declined and 4 traded firm as trading activity accounted for 1,315,380 shares crossing the floor valued at $30,638,799.

Jamaica Money Market Brokers enjoyed another day of good volume with 526,150 shares valued at $263,075 as it closed firm at 50 cents. ANSA McAL contributed 103,242 shares with a value of $6,842,848 it closed firm at $66.28, while Guardian Holdings added 13,945 shares valued at $208,158 as the price moved up to $15 at the close up 58 cents. Trinidad Cement closed at $2.10 an increase of 8 cents as it traded 10,000 units, at the end of trading there was no stock on offer. National Enterprises traded at a new 52 weeks high of $16.06 for 2,000 units and the stock gained 5 cents.

Conversely, Clico Investment Fund traded 67,840 shares valued at $1,448,647 and declined by 20 cents to end the day at $21.35.

IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator showed that there were bids for 4 stocks being higher and 2 stocks with offers lower than their last selling price.

FX: Rates on the move

September 18, 2013 by IC Insider.com

Wednesday, 18th September 2013 | The buying of forex saw the amount sold to end users being just above the purchases by authorized dealers with US$27.66 bought and US$28.5 being sold.

USD Trades | It cost more for end users of the US dollar as the average selling rate increased by 8 cents to $102.645 as dealers sold US$25.28 million while they bought $23.97 million at 17 cents more than on Tuesday at $101.914. The US dollar traded as high as 40 cents more at the highest buying rate, which hit $103.50 and sold it as high as $108.07, the same rate as the day before but hiked the lowest selling rate by $15.66 to $100. The rate for buying at the low end remained unchanged at $84.34.

Canadian | The Canadian dollar was sold for just 2 cents more at $99.75 with C$422,718 being sold and C$885,668 purchased at an average rate of $97.874 which is 54 cents less than on Tuesday. Traders bought the currency as high as 15 cents more at $100.60 and as low as $80.22 or 4 cents less. On the sell side the highest rate declined 5 cents to $103.42 and the lowest rate moved up by 30 cents to $97.

British Pound | The Pound put on $1.23 to reach $162.27 as dealers bought £1,736,444 and sold £1,667,499 at $1.09 more at $164.65. The Pound was bought as high as $1.60 more at $165.60 and as low as $132.30 or 50 cents more and sold at the highest rate of $170.56, a 64 cents increase and the lowest rate moved down by 90 cents to $155.80.

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

JSE: Trading levels low again

September 18, 2013 by IC Insider.com

Wednesday, 18th September 2013 | The Jamaica Stock Market was easy on Wednesday as there were little change in the indices except the Junior market index was down 12.60 to 765.06. Advancing and declining stocks were almost even at 7 to 8 and 15 had no price change at the end of trading. Trading levels were once more low with 8.2 million units being exchanged for $27.6 million, with the preference shares accounting for $5.8 million of the amount traded.

Main Market | Carreras is trying to recover but supply is placing pressure on the stock but it traded 5,913 at $48 as it gained 40 cents at the close. Jamaica Money Market Brokers traded 622,917 units valued at $5,271,675 as the price closed at $8 after trading as high as $8.45 for most of the day; Mayberry Investments put in 55,000 units with the price closing holding firm at $2.65; National Commercial Bank chipped in with 55,677 units with the price closing firm at $18.65; Sagicor Investments 34,865 units closed at $16.55; Sagicor Life put in 201,800 to close at $8.50 down 50 cents after trading most of the day at $9; Scotia Group traded 23,699 units with the price closing at $21.27 down by 3 cents; Scotia Investments 10,550 units closed at $26.50 down 50 cents; Infrequently traded Seprod put in a volume of 3,00,227 units as the price closed at $14, an increase of $1.00; Supreme Ventures lost 15 cents at the close at $2.56 with 10,000 units changing hands; Jamaica Money Market Brokers 8.75% exchanged 1,383,131 units at $3 valued at $4,149,393 and Proven Investments 8% traded 330,939 at $5.09 valued at $1,684,480.

Junior market | AMG Packaging traded 37,428 units with the price closing firm at $4; Consolidated Bakeries contributed 110,445 units to the total traded with the price closing $1.22 down 12 cents; General Accident Insurance exchanged 133,881 $1.77, up 2 cents; Jamaican Teas traded 17,715 units with the price closing firm at $4; Lasco Distributors saw a large volume of 2,000,000 units trading with the price closing at $1.50 unchanged valued at $3,000,000 as just one trade took place; Lasco Financial Services accounted for 2,554,481 units with the price closing firm at $1.25 valued at $3,193,101 and Lasco Manufacturing saw 262,311 units trading with the price closing at $1.45 down 10 cents.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed that there were bids for 6 stocks being higher and 3 stocks having offers lower than their last selling price.

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

TTSE: First Citizens up 52%

September 18, 2013 by IC Insider.com

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Wednesday, 18th September 2013 | First Citizens Bank traded 23,952 units valued at $801,194 as the price hit another 15 percent maximum price movement, the third consecutive day the stock activated the circuit breaker.

Importantly there are 1,272,755 units to buy at the closing price of $33.45, which was up $4.36 for the day. Although the advance decline ratio was positive as 6 advanced and 2 declined, it was the movement of First Citizens stock that was behind the gain of the All Trinidad & Tobago index by 23.24 to 1,886.79.

Upward price momentum seems to be in favour of First Citizens as demand remains intact. However, First Citizens’ PE ratio at 22.3 times this year’s earning is now close to Scotiabank, while Republic Bank is way down at 15 times. Rational investors will take these factors into consideration when investing. The PE suggests that a short term top is not too far off. IC Insider had projected $35 but that seems a bit conservative based on what has happened to date and the lack of offers in the market so far. This is one worth watching.

Trading accounted for stocks of 11 companies changing hands as 616,236 units traded for a value of $2,479,793.

Jamaica Money Market Brokers continue to be in demand trading 514,481 shares for a value of $257,241; Jamaica’s Scotia Investments contributed 25,000 shares for $50,000 as the stock closed down 5 cents to close at $2. Sagicor Financial Corporation added 13,629 shares valued at $94,841. Scotia Bank gained 2 cents to $70.04 a new 52 weeks high as it traded 11,743 units; Guardian Holdings moved up 2 cents to $14.52 on 2,350 shares changing hands. Trinidad Cement inched up 2 cents to $2.02 but with just 4,000 units and Angostura Holdings traded at a new 52 weeks high of $10.01 but with just 500 units trading. Clico Investment Fund traded 18,375 shares valued at $396,063 as the price inched down a cent to end at $21.55.

Related post | First Citizens off Buy Rated list

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

FX: Inflows decline

September 17, 2013 by IC Insider.com

Tuesday, 17th September 2013 | Inflows into the forex market declined sharply from Monday’s good flows to end up at US$22.9 million being bought by as authorised dealers and selling of US equivalent of US$26.5 million.

The buying price for the US dollar fell slightly by 9 cents as dealers bought US$20.25 million at $101.75 and sold US$$24.27 million at 3 cents more than on Monday at $102.57. The Canadian was bought for $98.42 an increase of 79 cent as C$864,656 was purchased but selling took place for 43 cents more than on Monday at $99.73 for CS$795,050. Purchasing of the Pound amounted to £1,060,506 at an average of $161.04, a 95 cents increase and selling amounted to £825,065 at $163.56 one cent down.

There was no change in the lowest buying rate and the highest selling rate for the United States dollar, which stands at $84.34 and $108.07 respectively but the highest buying rate moved down 40 cents, the same amount it increased by on Monday to $103.10 and the lowest selling rate was up 17 cents, nothing like the $15.63 drop on Monday as the rate closed at $84.34.

Changes in the Canadian currency saw an increase of 80 cents for the highest buying rate that ended at $100.45 and 21 cents gain for the lowest buying rate, which closed at $80.26. The highest selling rate moved up 11 cents to $103.47 and 35 cents was put on the lowest at $96.70.

The British Pound was bought for 50 cents more at the highest level of $164 and a 24 cents increase to the lowest buying rate that ended at $131.80. The highest selling rate jumped 79 cents to $169.92 and the lowest was dropped $1.30 to $156.70.

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

JSE: Grace $3.23 drop pulls market down

September 17, 2013 by IC Insider.com

Tuesday, 17th September 2013 | In today’s trading, advancing stocks were overtaken by declining stocks 8 to 4 leading to a decline in all active indices. Trading levels were once more low with 6 million units being exchanged for $23 million. Preference shares accounted for $5.1 million of the amount traded. The all Jamaica index fell 297.39 to 84,897.19; the main market index was off 169.03 to close at 84,798.97 and the Junior market index was down 1.82 to 777.66.

Main Market | In trading Barita lost 23 cents to close at $2.27 with only 250 units; Cable & Wireless traded 394,815 at 17 cent down a cent; Carreras posted 7,082 shares to close at $47.60 down 5 cents; Caribbean Cement accounted for 65,799 units as it closed at $2.40 down 30 cents; Grace Kennedy put in 12,626 as the price dropped big time by $3.23 to close at $53.52; Jamaica Broilers Group saw 119,448 being exchanged at $5 at the close; Jamaica Money Market Brokers traded 510,000 valued at $4 million as the price remained firm at $8; National Commercial Bank 41,659 units were exchanged firm at $18.65 at the close; Sagicor Life Jamaica 423,000 units crossed hands firm at $$9; Scotia Group 52,670 traded to close firm at $21.30; Jamaica Money Market Brokers 8.75% traded 267,000 firm at $3 and Proven Investments 8% traded 840,000 firm at $5.09.

Junior Market | On a day of high volumes in the junior market, Access Financial Services put in a healthy volume on Tuesday of 206,353 units valued at $1.7 million as the price closed at $8.35 an increase of 7 cents; Caribbean Producers put in 232,300 units to close at $2.10 off by 5 cents; Consolidated Bakeries exchanged 56,829 units firm at $1.35; General Accident Insurance had 161,642 units changing hands at $1.75 down 2 cents at the close. Lasco Distributors traded 826,639 at $1.50 up 5 cents; Lasco Financial Services put in a good volume of 1,692,047 units valued at $2.1 million as it traded firm at $1.25 while Lasco Manufacturing 91,880 units traded up 5 cents to close at $1.55.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed that there were bids for 8 stocks being higher and 2 stocks having offers lower than their last selling price. This is the same level as on Monday and shows a bias to more price gains ahead.

Image courtesy of Photokanok/FreeDigitalPhotos.net

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

TTSE: First Citizens in high demand closes at $29.09

September 17, 2013 by IC Insider.com

Tuesday, 17th September 2013 | There was only trading in 20 units of the newly listed First Citizens Bank (FCB) but that was all that was needed to push the price to an all time high of $29.09. The price movement triggered the circuit breaker again, as it did on Monday, the first day of trading for the stock.

The price movement helped the all Trinidad & Tobago Index to climb 1 percent or 20 points to 1,863.55. At the end of trading there were 2,224,089 FCB shares on the bid to buy at $29.09 and there were no shares on offer as happened on Monday. The stock can trade as high as $33.45 on Wednesday. IC Insider’s initial forecast that it will hit $35 in this run up seems much closer now than before the start of this week. At the current price, the PE is 19.4 times this year’s earnings. Scotia Bank is at 22.50 times earnings presently, which means that if the FCB PE gets to that level, the price would be $34, a nice 54 percent gain in a few days from the issue price of $22. Meanwhile, another stock with appreciation potential, Trinidad Cement, claimed back the $2 level as the price rose today by 5 cents to close at $2 with 10,000 shares.

Trading took place in 13 securities as 3 advanced, 2 declined and 5 traded firm as 732,197 units traded at a value of $2,920,110. Jamaica Money Market Brokers had 618,901 shares changing hands for a value of $310,611 with the price closing firm at 50 cents. Jamaica’s National Commercial Bank traded a volume of 40,644 shares for $46,741 firm at $1.15. Neal & Massy Holdings contributed 24,578 shares with a value of $1,376,496, the price lost 10 cent to close at $56. Republic Bank traded 4,033 units at $110.04 up 2 cents. First Caribbean International Bank fell $1.00 to close at $6.75, a new 52 weeks low with just 1,029 units trading.

Clico Investment Fund share price remained unchanged to close at $21.56, with a volume of 31,084 shares valued at $670,094.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator continues to show signs of a fluid market with bids for 3 stocks being higher and 3 stocks having offers lower than their last selling price.

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

FX: Strong inflows and outflows

September 16, 2013 by IC Insider.com

Monday, 16th September 2013 | The buying price for the US dollar fell slightly by a cent as authorised dealers bought US$37,622,636 at $101.837 and sold US$37,803,396 at 8 cents more than on Friday at $102.53. The Canadian was bought for $97.6266, down a cent as C$1,314,269 was purchased but they sold the currency for 16 cents less than on Friday at $99.30 with C$889,856 purchased. Purchasing of the Pound amounted to £1,322,607 at an average of $160.0845, which was 50 cents less than Friday’s rate and selling amounted to £952,876.91 at 34 cents more at $163.57.

Overall the equivalent of $41.2 million was purchased and US$40.46 was sold.

There was no change in the lowest buying rate and the highest selling rate for the United States dollar, which stood at $84.34 and $108.07 respectively but the highest buying rate moved up 40 cents to $103.50 and the lowest selling rate was down $15.63 to $84.17.

Changes in the Canadian currency was moderate with a 15 cents fall in the highest buying rate that ended at $99.65 and 13 cents off the lowest buying rate which closed at $80.05. The highest selling rate remained unchanged at $103.36 and 20 cents was put on the lowest at $96.35.

The British Pound was bought for 5 cents more at the highest level of $163.50 with no change to the lowest buying rate at $131.56, but the highest selling rate jumped $4.54 to $169.13 and the lowest was up $2.40 to $158.

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

JSE: Proven preference dominant in slow trading

September 16, 2013 by IC Insider.com

Monday, 17th September 2013 | In another slow day of trading on the Jamaica Stock Exchange, 10,033,867 shares changed hands valued at $41,529,935. Proven Preference 8 percent shares accounted for 4,555,000 valued at $23,184,950 as the price closed firm at $5.09. There were 8 stocks that closed with increased in prices versus 6 that fell. The junior market index climbed 5.62 to close at 787.49 but the two main market indices fell quite a bit with the all Jamaica index going down 819.45 points to 85,064.08 and the main market index falling 465.72 to 84,893.83.

Carreras 22,532 units resulted in the stock closing at $47.60 down by 10 cents; Gleaner Company 178,398 units traded at $1.17 and was off by 3 cents at the close; Jamaica Broilers Group 23,082 units traded at $5 but slipped 10 cents; Jamaica Money Market Brokers traded 171,892 units firm at $8; Jamaica Producers Group 12,890 units traded firm at $18.25; National Commercial Bank 107,550 units closed trading at $18.65 up 4 cents; Pan Jam traded 44,294 units firm at $51; Sagicor Life Jamaica 21,500 units closed firm at $9 and Scotia Group Jamaica contributed 216,865 units as it traded at $21.30 up 10 cents.

Junior market | Caribbean Cream traded 48,093 firm at $1.03; Caribbean Producers exchanged 150,000 shares to close at $2.15 up 5 cents; while Lasco Distributors put in a good volume of 191,670 at $1.45, down 5 cents for a value of $1,726,670; Lasco Financial Services contributed 2,618,867 firm at $1.25 and valued at $3,273,584 and Lasco Manufacturing just exchanged 126,264 units as it closed firm at $1.60.

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

TTSE: First Citizens triggers breaker

September 16, 2013 by IC Insider.com

Monday, 16th September 2013 | First Citizens Bank stock hits $25.30, up 15 percent in early trading on the Trinidad & Tobago Stock Exchange as just 1,000 units traded. At the end of trading there were bids for 3,187,700 units at $25.30 and there were no stocks on offer, a clear sign of higher price in the days ahead.

The company that had a successful initial public offer of shares (IPO) between July and August when it was twice oversubscribed saw the stock price hitting the maximum it could trade a for the day based on the circuit breaker rule. At the current price, the PE of the stock is 17 times earnings based on the level of oversubscription and the value of other bank stocks IC Insider sees the prospects for the stock to reach $35 in this run up.

Other significant trading saw Jamaica Money Market Brokers exchanging 410,000 units firm at 50 cents for a value of $205,000 after the company announced that it has been cleared to acquire the remaining 50 percent of Intercommercial Bank to bring their shareholding to full 100% ownership.

Trinidad Cement traded 69,000 shares for $134,550 as the stock traded firm at $1.95; National Commercial Bank of Jamaica contributed 10,000 shares with a value of $11,500, while Republic Bank added 5,000 shares valued at $550,100.

Guardian Holdings closed up 48 cents at $14.50 but on only 100 units; National Flour traded 2,352 units and put on a cent to close at 76 cents, while Neal & Massy put in 3,103 units gaining 4 cents to close at $56.04. Clico Investment Fund, swapped 125,081 shares valued at $2,696,856 as the price remained at $21.56.

Trading activity on the First Tier Market registered a volume of 628,942 shares crossing the floor valued at $3,937,088 as there was trading in 14 securities of which 6 advanced, none declined and 8 traded firm.

At the end of trading, the Investor’s Choice bid-offer indicator was showing signs of a fluid market continuing with bids for 2 stocks being higher and 4 stocks having offers lower than their last selling price.