Low sink in TTSE trading – Monday
Trading activity on the Trinidad and Tobago stock market closed on Monday with very modest volume and losses in two of the main market indices as no stock gained, one fell and 6 remained unchanged.
Market activity sank to just 28,668 shares valued at only $302,443 changing hands, well below the $4,238,930 traded on Friday.
The Composite Index declined 2.76 points to close at 1,153.92, the All T&T Index fell 5.50 points to close at 1,812.86 and the Cross Listed Index ended unchanged at 65.90 points.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 8 stocks with bids higher than their last selling prices and 4 with offers that were lower.
Gains| No stock recorded gains based on the last traded price in the market on Monday.
Losses| National Enterprises lost 45 cents to close with 5,000 shares changing hands at $10.
Firm Trades| Ansa McAl traded 1,000 units to close at $62.70, Guardian Holdings ended with 12,022 shares changing hands at $12.80, Massy Holdings ended with 61 shares changing hands at $54.80, National Flour with 5,000 shares changing hands, closed at $2.50. Trinidad and Tobago NGL closed at $23.52 with 5,460 units changing hands and Trinidad Cement traded 125 shares to close at $3.12.
ISP $150M arsenal for expansion
The bonds provide an arsenal funds that will allow for a major expansion of the company’s loan portfolio at a huge spread. At the end of December 2015, the company’s loan portfolio, before loan loss provision stood at $304 million and grew marginally to J$305 million at the end of June. After loan loss provision of $70 million, it stood at $234 million as of June this year versus $241 million at December and is up from the $225 million at the end of March 2016. The new funds should aid in a major increase in lending and should result in as welling of profits. In addition to these fresh cash injection, the company will have funds generated from profits to lend as well.
The Company will apply to the Jamaica Stock Exchange to list the bonds.
Republic jumps $4 on TTSE – Friday
Market activity resulted in 251,003 shares valued at $4,238,930 changing hands, well below the $22,225,458 traded on Thursday.
The Composite Index declined 0.02 points to close at 1,156.68, the All T&T Index fell 0.03 points to close at 1,818.36 and the Cross Listed Index ended unchanged at 65.90 points.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 7 stocks with bids higher than their last selling prices and 2 with offers that were lower.
Gains| Angostura Holdings ended with 6,000 shares changing hands to close at a 52 weeks’ high with a gain of 5 cents at $14.05, Republic Financial Holdings jumped $4 to close at a 52 weeks’ high of $114, with 4,076 shares changing hands at a value of $448,814. Scotiabank gained 1 cent and closed with 13,737 shares changing hands with a value of $ $794,823 to end at $57.86 and Trinidad and Tobago NGL that closed at $23.52 with 3,674 units changing hands after rising 1 cent.
Losses| National Enterprises lost 1 cent to close with 765 shares changing hands at $10.45 and West Indian Tobacco traded 2,500 shares valued at $316,875 to close $126.75 after falling 25 cents.
Firm Trades| Agostini’s traded 21,683 shares valued at $375,131, to end at $17.30, Ansa Merchant Bank traded 100 units to close at $40.01, Clico Investment Fund closed with 75,630 shares changing hands, valued at $1,708,505, to end at $22.60, First Citizens traded 1,106 units at $35. Grace Kennedy closed with 75,000 shares changing hands at $2.52, Guardian Media ended with 805 shares changing hands at $19.75, Massy Holdings ended with 50 shares changing hands, to end at $54.80, National Commercial Bank ended with 9,960 shares changing hands to close at $2.64, Point Lisas closed with 1,420 shares trading to close at $3.51, Prestige Holdings with 6,060 units changing hands ended at $10.83 and Trinidad Cement traded 18,142 shares to close at $3.12.