Police in covert activity on motorists
The operations have been successful particularly in Kingston and St. Andrew and St. Catherine, netting traffic tickets for driving offences including improper overtaking, exceeding the speed limit, and sometimes when motorists are stopped there are accompanying charges, such as defective vehicles or failure to wear seat belts. Since the start of the year, a total of 388,811 tickets have been issued on the island’s roads.
“Covert operations target certain areas where indiscipline and bad driving are rampant. We have done a number of operations and you never know where we might be next. Motorists found in breach will be dealt with,” warned Acting SSP Courtney Coubrie, Head of the Police Traffic Division.
The covert operations are done with police officers using unmarked vehicles, with a marked vehicle in close proximity to assist in apprehending offenders where necessary. “We frequent areas where there is a high level of indiscipline and lawlessness. In the past what usually happens is that the marked vehicle is easily seen from a distance as we are normally on long stretches of roads. If the officers tried to respond to those who commit a violation, on seeing the marked vehicles, motorists tend to divert in an attempt to evade the police,” explained DSP Errol Adams, Operations Officer, Police Traffic Division.
Another challenge is that on the highways, once a marked vehicle is in position to do speed checks, if a motorist realizes, there is the usual communication with the flashing of the headlights. However, in a covert operation, because the vehicle is unmarked, the police are able to detect numerous breaches before persons are aware of their presence.
Trading volume rebounds on TTSE
Trading levels rebounded strongly on the Trinidad & Tobago Stock Exchange on Thursday with 513,946 shares changing hands with a value of $9,953,673, in contrast to Wednesday’s volume of 31,204 with a value of $2,125,247.
At the close of trading, 17 securities changed hands, 2 advanced, 7 declined and 8 ended unchanged.
The Composite Index gained 0.47 points to 1,191.45 points, the All T & T Index closed 0.24 points lower to 1,804.60 points, down 7.39 percent year to date. The Cross Listed Index advanced 0.16 points to 77.31 points with year to date gains of 56.15 percent.
IC bid-offer Indicator |The Investor’s Choice bid-offer ended with 4 stocks with bids higher than last selling prices and 6 with lower offers.
Gains| Agostini’s gained 11 cents to close at $17.51 with 300,618 shares changing hands with a value of $5,260,821 on strong fourth quarter results and Berger Paints gained one cent to close at a 52 weeks high of $4.06 with 500 shares changing hands.
< Strong> Losses| strong>Ansa McAL lost 6 cents to close at $61.94 with 3,242 shares changing hands, Guardian Holdings lost 5 cents with 5,524 shares changing hands to close at $12.90, JMMB Group lost 1 cent and closed at 90 cents with 5,650 shares changing hands, Massy Holdings lost 2 cents to close at $50.97 with 3,965 shares changing hands. Scotiabank closed at $58.70, down 2 cents with 184 shares changing hands, Trinidad & Tobago NGL lost 4 cents to close at $22.50 with 10,200 shares changing hands and Unilever Caribbean lost 2 cents to close at $59.85 with 1,404 shares changing hands.
Firm Trades | Clico Investment closed at $22.60 with 100,500 shares changing hands with a value of $2,270,305, First Caribbean International Bank closed at $8.50 with 2,000 shares changing hands, National Commercial Bank closed at $2.90 with 50,000 shares changing hands. National Enterprises closed at $10.60 with 11,817 shares changing hands, Point Lisas closed at $3.70 with 750 shares changing hands. Prestige Holdings closed at $11 with 12 shares changing hands, Sagicor Financial closed at $7.50 with 7,580 shares changing hands and West Indian Tobacco closed at $127 with 10,000 shares changing hands valued at $1,270,000.
FX trading volume drops – Thursday
The Jamaican dollar lost ground slightly against the US dollars and the British pound and rose in value versus the euro and Canadian dollars in foreign exchange trading on Thursday. Dealers bought the equivalent of US$23,131,959 of all currencies and sold US$18,138,969, compared to US$42,647,035 purchased and US$37,480,324 sold on Wednesday.
In US dollar trading, dealers bought US$19,995,977 compared to US$37,980,242 on Wednesday. The buying rate for the US dollar fell 34 cents to close at $128.15. A total of US$17,183,431 was sold versus US$32,510,365 on Wednesday, with the selling rate rising 2 cents to end at $129.07. The Canadian dollar buying rate dropped $3.08 to $92.30, with dealers buying C$985,313 and selling C$479,106 at an average rate that fell $1.55 to $95.40. The average rate for buying the British Pound rose by 88 cents to $157.62 for the purchase of £1,885,017 while £377,061 was sold with a gain of 11 cents to end at $160.78.
At the end of trading on Thursday, dealers sold €121,036 with the selling rate for the Euro, closing with a fall of 76 cents to $137.15, according to data from Bank of Jamaica. Dealers purchased €100,102 of the European common currency at $130.54 after dropping $5.11. The US dollar equivalent of other currencies traded, amounts to US$5,821 being bought and selling of US$3,147.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded currencies, in the foreign exchange market on Thursday, include a jump in the lowest selling rate for the US dollar by $19.96, to $124. A fall of $2.90 in the highest buying rate for the Canadian dollar to $96.10, while the highest selling rate slipped by $1.19 to $99.25. The highest buying rate for the British Pound declined by $1 to $161, the lowest buying rate fell $1.09 to $129.07, while the lowest selling rate fell $1.50 to $154.50. The highest buying rate for the Euro fell $2.80 to $134.20, the highest selling rate gained $3.10 to $143.10 and the lowest selling rate fell by 90 cents to $131.90.
16 stocks fall 7 rise in early JSE trading
Trading on the Jamaica Stock Exchange resulted in the main market and junior market falling as declining stocks beat out advancing on a 2 to 1 ratio in early Thursday morning activity.
A total of 33 securities traded of which 7 advanced and 16 fell, resulting in a volume of 3,513,020 shares changing hands carrying a value of a $22,530,339 compared with 627,417 shares changing hands with a value of $2,528,726 on Wednesday at 10.45 AM. The average number of shares traded, amount to 106,455 units versus 26,142 units on Wednesday.
At 11:30 am the all Jamaica Composite Index fell 362.17 points to 193,127.24, the Jamaica Stock Exchange Market Index lost 323.84 points to 173,731.89, the Jamaica Stock Exchange combined index declined by 418.09 points to close at 185,754.80 and the junior market index fell 11.46 points to end at 2,398.33.
Jamaican$ gains vs. US$ – Wednesday
The Jamaican dollar gained moderately in foreign exchange trading on Wednesday against the United States but fell against the other three major currencies. Dealers bought the equivalent of US$42,647,035 of all currencies and sold US$37,480,324, compared to US$38,545,626 purchased and US$30,346,908 sold on Tuesday.
In US dollar trading, dealers bought US$37,980,242 compared to US$33,256,940 on Tuesday. The buying rate for the US dollar climbed 13 cents to close at $128.49. A total of US$32,510,365 was sold versus US$26,749,165 on Tuesday, with the selling rate falling 4 cents to end at $129.05. The Canadian dollar buying rate rose 14 cents to $95.38, with dealers buying C$4,351,922 and selling C$4,660,973 at an average rate that climbed 61 cents to $96.95. The average rate for buying the British Pound fell $1.21 to $156.74 for the purchase of £756,557 while £280,437 was sold with a gain of 80 cents to end at $160.67.
At the end of trading on Wednesday, dealers sold €941,766 with the selling rate for the Euro, closing with a rise of 39 cents to $137.91, according to data from Bank of Jamaica. Dealers purchased €472,871 of the European common currency at $135.65 after rising $2.24. The US dollar equivalent of other currencies traded, amounts to US$14,312 being bought and selling of US$112,861.
Highs & Lows| Notable changes to the highest and lowest rates for the regularly traded currencies in the foreign exchange market on Wednesday, include a rise in the highest buying rate for the Canadian dollar of $2.20 to $99. The highest buying rate for the British Pound climbed $1 to $162, the highest selling rate lost $1.02 to $167.46, while the lowest selling rate climbed $3.50 to $156. The highest buying rate for the Euro fell $1.10 to $137, the highest selling rate dropped $2.31 to $140 and the lowest selling rate rose by 80 cents to $132.80.
Trading activity drops on TTSE – Wednesday
Trading levels declined sharply on the Trinidad & Tobago Stock Exchange on Wednesday in contrast to much more robust activity on Tuesday when 13 securities traded. At the close, 8 securities changed hands, 2 advanced, 1 declined and 5 traded unchanged.
Trading activity closed with 31,204 shares changing hands with a value of $2,125,247, in contrast to Monday’s volume of 1,012,187 with a value of $20,846,037.
The Composite Index gained 0.16 points to 1,190.98 points, the All T & T Index closed 0.32 points higher to 1,804.84 points, but down 7.37 percent year to date. The Cross Listed Index remained unchanged at 77.15 points with year to date gains of 55.83 percent.
IC bid-offer Indicator |The Investor’s Choice bid-offer ended with 5 stocks with bids higher than last selling prices and 9 with lower offers.
Gains| First Citizens gained 1 cent to close at $33.02 with 1,077 shares changing hands and National Enterprises advanced 5 cents to close at $10.60 and Losses|Guardian Holdings lost 5 cents with 1,125 shares changing hands to close at $12.95.
Firm Trades| First Caribbean International Bank closed at $8.50 with 500 shares changing hands, Guardian Media closed at $19 with 7,310 shares changing hands, Scotiabank closed at $58.72, with 5,221 shares changing hands with a value of $306,609. Trinidad & Tobago NGL closed at $22.54, with 376 shares changing hands and West Indian Tobacco closed at $126.80 with 12,492 shares changing hands valued at $1,584,017.