6 TTSE’s stocks rise 4 down on Friday
At the close, the Composite Index ending with a rose of 4.67 points at 1,159.14 the All T&T Index rose 0.39 points to 1,953.99 and the Cross Listed Index gained 1.22 points to end at 47.89.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 6 stocks with the bid higher than the last selling price and 5 stocks with offers that were lower.
Gains| Guardian Holdings with 10,210 shares changing hands and closed at $12.91, with a gain of 1 cent, JMMB Group traded 16,000 shares with a gain of 5 cents to end at 53 cents. National Commercial Bank lead with 285,000 shares changing hands for a value of $555,923, the price gained 15 cents to end at $1.95, National Flour Mills gained 1 cent, to end at a 52 weeks’ high of $2.21, with 1,400 units changing hands. Sagicor Financial Corporation closed with 101,339 shares valued at $610,061 changing hands, at $6.02 for a rise of 1 cent and Trinidad Cement ended with 1,000 units changing hands at a 52 weeks’ high of $4.16, for a gain of 5 cents.
Declines| Ansa McAL lost 1 cent and ended with 5 units changing hands at $67. Clico Investment Fund closed with 44,115 shares valued at $994,811, changing hands at $22.55 after falling 1 cent, Massy Holdings declined 1 cent to end at a 52 weeks’ low of $61.97 with 2,000 units trading and Scotia Investments closed with a loss of 6 cents at $1.59, with 17,945 shares changing hands.
Firm Trades| First Citizens Bank traded 2,170 shares to close at $35, Grace Kennedy had 41,400 shares for a value of $800,375 changing hands at $3.60, National Enterprises ended trading with 1,000 shares to close unchanged at $16.50. One Caribbean Media traded 3,000 shares at $22, Prestige Holdings traded 500 units to end at $10, Republic Bank closed at $112 with 100,427 shares changing hands with a value of $11,247,824, Scotiabank ended with at $62.50 while 4,000 units were traded and Trinidad and Tobago NGL closed at $21.51 with 40,827 shares changing hands, for a value of $721,405.
Market down at JSE in mid-morning
In early trading on the Jamaica Stock Exchange market indices are down with the all Jamaica Composite Index dropping 1,448.47 points to 155,472.55 at 11 am on Friday morning. The JSE Market Index declined by 1,331.90 points to 140,052.22, the JSE combined index fell 1,338.62 points to be at 146,915.55 and the junior market index slipped 9.09 points to 1,644.57.
In trading, Cable & Wireless traded 889,015 units between $1.50 and $1.64, but last traded at $1.60, National Commercial Bank traded 453,271 units at $37.75 after trading at the open at $39.
The number of securities trading climbed sharply to 31 securities changing hands with a volume of 2,628,517 units as 11 stocks gained and 11 declined after 90 minutes of trading.
Profit drops at Trinidad’s NGL
The profit generated in the third quarter although sharply down from the similar period in 2014, is well up on the operating profit of $28 million for the March quarter but down on the $53 million in the June quarter of 2015. The decline is reflective of the fall in world energy prices.
The results flowed from the company’s share in a liquid gas joint venture of $46 million in the quarter, a fall from $129 million in the 2014 period and $134 million versus $277 million for the nine months in 2014. There were hardly any expenses incurred in operating the company.
Earnings per share for the September quarter is 28 cents and 85 cents for the nine months and should be around $1.15 for the full year.
NGL was incorporated in Trinidad and Tobago in September 2013. The The company does not do the processing on its own but acts as an investment holding company following acquisition of 39% of the share capital of Phoenix Park Gas Processors that is the largest producer of natural gas liquids in Trinidad and Tobago with its operation commencing in 1991.
The company will be paying a special dividend of 50 cents per share on December 15. A total of 75.8 million out of 116,100,000 issued shares, were offered to the public to raise $1.5 billion for the government of Trinidad and Tobago in September and is listed on the Trinidad and Tobago Stock Exchange and last sold at $21.51 at a PE of 19.
Jamaican $ falls on Thursday
Inflows of foreign currencies into the system on Thursday was US$4 million less than the amount sold. The local dollar lost value against the US dollar, the Pound and the Canadian currency. At the close of trading, the equivalent of US$33,692,403 was bought by dealers, compared with US$34,595,675 on Wednesday, while they sold the equivalent of US$37,640,407 versus US$38,678,449 previously.
In US dollar trading , dealers bought US$30,282,760 compared to US$31,957,560 on Wednesday. The buying rate for the US dollar gained 15 cents to $119.46 and US$35,351,886 was sold versus US$37,155,313 on Wednesday, the selling rate rose 8 cents at $119.92. The Canadian dollar buying rate gained 48 cents to end at $88.11 with dealers buying C$1,498,296 and selling C$1,277,999, at an average rate that fell 40 cents to $89.57. The rate for buying the British Pound rose $2.14 cents to $180.93 for the purchase of £1,448,552, while £789,789 was sold, with the rate jumping $2.92 to $183.23. At the end of trading, it took J$127.59 to purchase the Euro, a decline of 3 cents from Wednesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$125.13 for a rise of 9 cents from Wednesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$110,795 being bought, while US$127,223 was sold.
Highs & Lows| On Thursday, the highest buying rate for the US dollar rose 8 cents to $120.20, the lowest buying and the highest selling rates remained at $98.57 and $126.31, respectively and the lowest selling rate dropped $1.94 to $98.57. The highest buying rate for the Canadian dollar gained 65 cents to end at $90.25, the lowest buying rate remained at $71.80, the highest selling rate was unchanged at $92.55 and the lowest selling rate rose 50 cents to end at $86. The highest buying rate for the British Pound, climbed $1.70 to end at $184. The lowest buying rate was unmoved at $145.25, the highest selling rate gained $1.74 to $186.64 and the lowest selling rate fell $1 to end at $175.
Dolphin Cove’s founder rakes in 434% since listing
Dolphin Cove has total outstanding shares totaling 392.4 million. Burrowes and persons connected with him will continue to own in excess of 10 per cent of the company.
Eduardo Albor, the chief executive officer of the Dolphin Discovery Group in commenting on the transaction said: “ Burrowes and the Dolphin Cove team have built a world class attraction in Jamaica and I am delighted that he has chosen to partner with the Dolphin Discovery Group to take the venture forward.”
Albor added that the company does not plan to delist the stock from the Stock Exchange but will nevertheless comply with the rule of the Jamaica Stocks Exchange to make a compulsory offer for the minority shares.
Stafford Burrowes will remain as chairman of the Company and it is anticipated that a number of the current directors will resign to make way for additional directors to be appointed by the Dolphin Discovery Group. In keeping with this, the company announced the following changes to the board that flowed from a board meeting of Wednesday, November 18, the resignation of Gregory Burrowes, Marilyn Burrowes, Richard Downer and R. Danvers Williams who tendered their resignations while Eduardo Albor Villanueva, Concepcion Esteban, Gibran Chapur and Travis Burke were appointed as directors.
Stafford Burrowes said: “I am familiar with and have great respect for the operations of Dolphin Discovery in Latin America and the Caribbean, and now in the US and Europe. Dolphin Discovery, like Dolphin Cove, has a very professional approach to the care of dolphins and other species and that encouraged us to do this partnership with them. It gives me great pleasure to know that Dolphin Cove will be part of such a large and successful group of companies. I intend to remain with Dolphin Cove as chairman and look forward to combining my knowledge and expertise with those brought to the table by Dolphin Discovery. I am sure that together we can continue the growth of Dolphin Cove in Jamaica and the Caribbean.”
Burrowes added: ” It is my understanding that as a result of the sale of some of my shares, Dolphin Discovery is required to make a mandatory offer to all shareholders. Regardless of the outcome of the mandatory offer, I intend to remain a significant shareholder of Dolphin Cove and in that capacity I hope to share in the benefits resulting to the Company from its association with the Dolphin Discovery Group.”
Dolphin Cove Jamaica founded 15 years ago by Mr. and Mrs Burrowes in Jamaica offers dolphin attractions across the island and the region.
Dolphin Cove reported a 4 percent increase in profit after tax for the nine months to September, of $412 million over 2014 and a 17 percent increase in the September quarter to $128 million over the similar quarter last year. Cash flow from operations increased by 26 percent to $486 million, compared to $385 million for the similar period to September 2014.
Earnings per stock unit for the nine months amounts to $1.05 and 32.6 cents for the quarter and could end around $1.40 for the year, for the full 2014 year, earnings was $1.12.
5 TTSE’s stocks rise 1 down on Thursday
Trading on the Trinidad and Tobago Stock Exchange on Thursday ended with 13 securities trading of which 5 stocks closed higher, 1 declined and 7 remained unchanged as 213,427 shares changed hands for a value of $8,845,737.
At the close, the Composite Index ending with a rose of 0.30 points at 1,154.47 the All T&T Index rose 0.55 points to 1,953.60 and the Cross Listed Index gained 0.1 points to end at 46.67.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 6 stocks with the bid higher than the last selling price and 5 stocks with offers that were lower.
Gains| Ansa Merchant Bank ended with 734 units changing hands at $38.98, for a gain of 2 cents, Berger Paints ended at a 52 weeks’ high with a gain of 1 cents at $3.67 while 250 units were traded, Clico Investment Fund closed with 33,527 shares valued at $708,181 changing hands at $22.56 after gaining 1 cent. National Flour Mills increased by 21 cents to end at a 52 weeks’ high of $2.20 with units changing hands 1,000 shares, Sagicor Financial Corporation closed with 6,098 shares changing hands, to end at $6.01 for a rise of 1 cent.
Declines| Massy Holdings was the day’s sole declining stock in falling 1 cent to end at $61.98 while 5,711 units valued at $353,968 traded at a 52 weeks low.
Firm Trades| Angostura Holdings with 74 shares changing hands, closed at $14, First Citizens Bank traded 150 shares to close at $35, Grace Kennedy had 25,000 shares changing hands for a value of $800,375 changing hands at $3.60, National Enterprises ended trading with 300 shares to close unchanged at $16.50. Republic Bank closed at $112 with 1,383 shares changing hands, Scotiabank closed unchanged at $62.50 with 107,809 shares changing hands for a value of $6,737,673 and Trinidad and Tobago NGL closed at $21.51 with 33,527 shares changing hands, for a value of $721,405.
Selling pressure hits C&W
The Jamaica Stock Exchange all Jamaica Composite Index has shot up by 1,829.25 points to 157,525.62 at 11 am on Thursday morning. The JSE Market Index jumped 1,636.83 points to 141,889.33 the JSE combined index rose 1,258.48 points to be at 148,649.84 and the junior market index slipped 32.13 points to 1,644.55.
In trading, Cable & Wireless came under selling pressure and traded as low as $1.55 with 2,326,790 units changing hands and up to $1.80, but last traded at $1.78, Eppley traded at a new high of $400 with gain of $20, Desnoes & Geddes traded 405,690 at $30 and Sagicor Group has seen 311,800 shares changing hands at $17.
The number of securities trading climbed sharply to 32 securities changing hands with a volume of 4,293,752 units as 11 stocks gained and 13 declined after 90 minutes of trading.