Blog Page — Page 1395

TTSE: NCB dominates trade with $19m

February 4, 2014 by IC Insider.com

Tuesday, 4th February 2014 | National Commercial Bank added a big trade on the Trinidad stock market with 18.3 million shares at a value for $19.5 million out of the total 20,005,579 units with a value of $34,760,320 that traded. Market activity resulted in 12 securities changing hands of which 8 advanced, 1 declined and 3 traded firm.

The Composite Index increased by 3.30 points to close at 1,194.05, the All T&T Index moved up by 2.22 points to 2,004.12 and the Cross Listed Index advanced by 0.59 points to 50.43.

Gains | Clico Investment Fund, posted a volume of 34,960 shares valued at $770,885, the price gained a cent to end at $22.06; First Citizens Bank traded only 2,727 units to close at $39.95, up by 45 cents; Guardian Holdings mustered up 26,476 units as the price closed with 10 cents gain at $14.10; National Commercial Bank exchanged 8,250,000 shares for a value of $19,527,500, the stock closed at $1.07 up by 7 cents; Neal & Massy traded 2,000 to close up by 13 cents at $65.33, the stock closed with a bid of $66.01 to buy 29,788 shares; Point Lisas Industrial Port Development had a big volume of 1,584,486 shares traded for $5,862,598 as the price $3.70 for a 20 cents gain; Sagicor Financial swapped 2,298 units for $7.61 each for a gain of 12 cents; and Unilever Caribbean traded 2,055 units at $56.53 for a 13 cents increase.

Firm trades | Angostura Holdings added 36,089 shares valued at $387,957 to close at $10.75; Republic Bank contributed 52,785 shares with a value of $6,160,537, while the price closed at $116.71; and West Indian Tobacco traded 10,999 units at $118.

Declines | Prestige Holdings was is sole decliner, falling 5 cents to end the day at $9.35, only 704 units were traded.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 9 stocks with bids that were higher than the last selling prices and 2 stocks with offers lower.

Slight gain for Republic Q1 profit

February 4, 2014 by IC Insider.com

Profit for the quarter of Republic Bank’s first quarter to December 2013 just barely rose to $303 million, up from $296 million in 2012 as net revenues inched up by 2.4 percent to $860 million from $840 in 2012. Operating cost rose faster than revenue gains, ending up at $449 million compared to $421 million in the prior period. It was not all gloom, as loan provision fell to just $2 million compared to $17 million in 2012 and share of associated profit came to $12.7 million versus just $44,000 in 2012.

Profit attributable to Republic’s shareholders came in at $291 million versus $285 million in 2012. For the full year to September 2013, the banking group reported profit of $1.17 billion. Territorially, in the latest quarter Trinidad accounted for $434 million in pretax profit up from $431 million in 2012. Barbados pretax profit contribution was down marginally to $39.4 million from $39.8 million and other territories contributed $63.6 million compared to $63.2million in 2012.

Loans grew by 6.5 percent annualized in the quarter, which is a slower pace than the 7.3 percent growth year over year to December. The difference is not great, but Republic will need to pick-up lending growth to start getting a reasonable growth in profits. There is much scope for increased lending with loans of only $25.6 billion lent out of a total balance sheet of nearly $58 billion in assets and deposits of $545.8 billion.

The Trinidad economy is estimated to have grown by 2.8 percent in 2013. Most likely growth will pick up in 2014. An improving economy should lay the foundation for an uptick in lending over and above what the bank achieved for the last fiscal year and help to move profit up at a faster pace than in the December quarter.

Republic Bank is an ICInsider Buy Rated stock. To view the full list, click here.

Filed Under: Company News, Company Results Tagged With: Republic Bank, TTSE

Employed up, so too unemployed

February 4, 2014 by IC Insider.com

The unemployment rate for September 2013 was 14.9 percent compared to 14.0 percent in September 2012 but males unemployment rate was well below the national average at 10.6 percent but that for females at 20 percent was way over the average.

Employed up | The Employed Labour Force for September 2013 was 1,110,700 or 6,700 more than the 1,104,000 recorded in September 2012. For males, it increased by 6,400 (1.0 percent) to 637,800 and for females there was no noticeable movement.

The Unemployment rates among youths aged 14-24 years was 37.7 percent in 2013, an increase of 3 percentage points compared with 34.7 percent in September 2012. At the same time, male unemployment rate for youths was 31.4 percent compared to 46.2 percent for females.

The main findings of the 2013 Labour Force Survey, conducted by the Statistical Institute of Jamaica (STATIN) and covers the reference week of September 22-28.

Clerks got jobs | While the unemployment rate moved up in September, it was not all doom and gloom as the Occupation group ‘Clerks’ in the Employed Labour Force increased by 14.3 percent or 12,800 persons, from 89,400 in September 2012 to 102,200 in September 2013. The group ‘Service Workers and Shop and Market Sales Workers’ had the largest decline for the same period, moving from 225,900 to 215,300 in September2013 resulting in a decline of 10,600 (4.7 percent) persons.

In September 2013 the largest percentage increase in employment occurred in the industry group ‘Health & Social Work’ where the number of persons employed increased by 32.1 percent or 8,400 persons moving from 26,200 in September 2012 to 34,600. During the same period, the industry group ‘Other Community, Social and Personal Service Activities’ declined by 3,900 (6.1 percent).

Increased unemployed | The number of unemployed persons increased by 14,100 (7.8 percent) moving from 179,900 in September 2012 to 194,000 in September2013. Over the same period the number of unemployed males increased by 1,400 (1.9 percent) and the number of females by 12,700 (12.0 percent).

The number of persons in the Labour Force was 1,304,800, which was 20,900 (1.6 percent) higher than the 1,283,900 recorded in September 2012. The male labour force increased by 7,900 (1.1 percent) from 705,700 in September 2012 to 713,600 in September 2013, and the female labour force increased by 13,000 (2.2 percent) moving from 578,200 to 591,200 during the same period.

Outside labour force | Persons classified as Outside the Labour Force in September 2013 was 774,300. This represents a decrease of 15,200 (1.9 percent) when compared to 789,500 in September 2012. Over the same period, the number of males Outside the Labour Force declined by 5,100 (1.6 percent) moving from 311,700 to 306,600 and females by 10,100 (2.1 percent) moving from 477,800 to 467,700.

Filed Under: Economy Tagged With: Economy, Employment, GOJ, Statin

Banks push Ghana market up

February 4, 2014 by IC Insider.com

Add your HTML code here...

Monday, 4th February 2014 | When the Ghana stock market closed last Friday, the Financial sector index was up to 1,940.23 points compared with the 2013 year end close of 1,786.60 for an 8.6 percent gain in just the first month of the New Year, but at the end of Monday’s trading, it jumped 86.87 points to 2,027.10 or 4.3 percent and is now up 13.46 percent

The one-day leap was fuelled by Ecobank Ghana gaining 8 percent to close at GH(¢)7.01 and Standard Chartered Bank Ghana up 9.2 percent to close at GH(¢)18.

The Ghana composite market index that gained 5.14 percent at the close on Friday at 2,255.52 up from 2,145.20 at the start of the year, jumped by 62.22 points or 2.7 percent on Monday to end at 2,317.74 for an 8.04 percent gain from the start of the year.

There was trading in only 177,620 shares at the end of trading on Monday.

The big movers for the year to date are Ecobank Ghana up 25 percent; Ecobank Transnational Incorporation gained 21 percent and Standard Chartered Bank Ghana 20 percent. The big losers are Mechanical Lloyd Company down 8 percent; Pz Cussons Ghana 14 percent and Trust Bank lost 14 percent.

Filed Under: Global Market, Stock Market Tagged With: Ghana, Ghana Stock Exchange, Trading Activity

JSE: Advances more than declines

February 3, 2014 by IC Insider.com

Monday, 3rd February 2014 | The first trading day on the Jamaica Stock Exchange for the new month saw more stocks gaining value than those that lost but the main market indices fell as 27 securities changed hands with 8 advancing and 6 declining.

The JSE Market Index lost 951.58 points to end at 81,436.23 and the JSE All Jamaican Composite declined by 1,443.46 points to close at 83,938.97. For the Junior Market, the index slipped by 3.93 to close at 780.55. Trading resulted in only 2,182,178 units changing hands with a value of $18,449,519.

Main Market | As the market gave back some of the gains garnered towards the end of January, investors have to learn to stomach the month-end moves and not get caught up in the hype that often accompany seasoned investors behaviour towards each month end. The pull back in prices of some of last week’s winners, namely Scotia Group, National Commercial Bank and to a lesser degree Grace Kennedy and Scotia Investments, had a telling impact on the main market indices.

Stocks gaining | Cable & Wireless with 215,000 units to close at a 52 weeks high of 27 cents with the price gaining 2 cents at the end of trading; Caribbean Cement exchanged 22,056 shares with the price increasing by 13 cents to end the day at $4.80; Carreras 30,780 shares to close at $33.99 for a 49 cent gain; Ciboney with 491,000 units closed up 2 cents at 8 cents; Gleaner with 4,878 shares gained 2 cents to close at $1.12; Jamaica Money Market Brokers gained 9 cents to close at $7.49 with 60,700 shares.

Stocks falling | Desnoes & Geddes with 41,286 units to close at $4.98 as the price slipped by 52 cents; National Commercial Bank with only 3,636 units at $17.40 for a fall of 60 cents; Scotia Group 673,560 units closing at $20.71 for a $1.23 drop; and Scotia Investments with just 8,740 units as the price fell $3.40 to end at $23.10.

Firm Trades | Kingston Properties with 55,680 shares at $4.45; Sagicor Investments 7,235 units at $20 and Sagicor Group with 81,885 shares changing hands at $10. In the preference section, Jamaica Money Market Brokers 7.50% traded 54,119 units at $2.

Junior Market | Of the ten stocks trading in the junior market, only 4 had much volume changing hands.

Gainers | Caribbean Flavours traded only 2,750 shares at a new all-time high of $2.85, the price was up by 35 cents. The company announced that the board of directors will be meeting on February 5, 2014 to consider the payment of a dividend. Lasco Manufacturing traded 101,086 units to close up a cent at $1.32.

Firm Trades | Lasco Distributors traded 149,915 units and closed at $1.45; Consolidated Bakeries traded with 52,765 units at $1.15 and AMG Packaging 7,050 shares at $3.45.

Stocks falling | Lasco Financial Services traded 99,000 units, lost 4 cents to close at $1.35 and Medical Disposables 5,000 units at $2.05, down 5 cents.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 7 stocks with bids higher than the last selling prices and 1 stock with the offer that was lower.

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

TTSE: New month starts down

February 3, 2014 by IC Insider.com

Monday, 3rd February 2014 | The first trading day for February on the T&T Exchange saw more stocks losing value than those that gained as 9 securities changed hands of which 2 advanced, 6 declined and 1 traded firm. The Composite Index edged down by 1.29 points to 1,190.75, the All T&T Index declined by 2.54 points to 2,001.90 and the Cross Listed Index eased by 0.01 points to close at 49.84.

Trading resulted in a mere 96,942 units changing hands with a value of $2,855,024.

Stocks gaining | Agostini’s traded 106 units at $17.80 as the price gained by a cent and Republic Bank exchanged 10,108 shares for $1,179,705 with the price increasing by a cent to end the day at $116.71.

Stocks falling | Ansa Merchant Bank which traded a mere 23 shares with the price declining by 11 cents to end at $38.49; Clico Investment Fund posting a volume of 66,040 shares valued at $1,456,322, the price declined by 45 cents to end at $22.05; First Citizens Bank traded just 992 units to close $1.49 down at $38.50; Grace Kennedy contributed 7,680 shares with a value of $28,416 but the price inched down by a cent to $3.70; Scotiabank traded 500 shares as the price dropped by 40 cents to end at $72.61 while Trinidad Cement added 1,323 shares valued at $2,844 for a 15 cents fall to $2.15.

Firm Trade | Angostura Holdings had 10,170 shares changing hands for a value of $109,328, the stock closed unchanged at $10.75.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 8 stocks with bids higher than the last selling prices and 2 stocks with offers that were lower.

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

Grants prop up GOJ revenues

February 2, 2014 by IC Insider.com

The Government of Jamaica’s revenues for December 2013 came up well short of budget. It would have been worse but for an unscheduled intake of grants amounting to $4.1 billion, which helped to prop up the revenues that fell short of budget by $7 billion. Overall, the fiscal operations ended up with a surplus of $5.32 billion in December compared to $5.25 billion originally projected.

For the nine months to December, the government is running $11 billion short on revenues and paid $16 billion less on housekeeping expenses and interest, excluding loan repayments, for an overall deficit of $19.6 billion that is $4.2 billion less than the amount budgeted for of $24.78 billion.

The revenue shortfall is across all major categories with international trade being one of the worse areas, down by $5.7 billion or 6 percent, Income taxes $5.2 billion or 7 percent followed by production taxes off by $1.5 billion or 2 percent. Amount spent on interest is down by $5 billion and capital expenditure by $9 billion.

The government is expected to announce in Parliament that they will close out the 2013/14 fiscal year with a virtual wipeout of the budgeted deficit by the end of March.

Image courtesy of StuartMiles/FreeDigitalPhotos.net

Filed Under: Economy Tagged With: Deficit, Economy, GOJ

TTSE PE: Neal & Massy, Republic moves

February 1, 2014 by IC Insider.com

Friday, 31 January 2014 | Neal & Massy and Republic Bank continues to gain this week on the Trinidad Stock Exchange as investors slowly take advantage of the high level of undervaluation of these two stocks.

Meanwhile, investors took profit in First Citizens during the week as the price fell to $38 but recovered $1.99 to close the week at $39.99, down from $43 at its recent peak. The pullback makes First Citizens a more appealing stock at the week’s close with potential gains of 40 percent versus 33 percent last week.

The Trinidad market continues to offer attractive profit potential for a large number of stocks. The top stocks with the highest potential for gain at over 100% are Trinidad Cement at the upper end with 283%, Point Lisa (271%), Berger (206%), Guardian Holdings (202%), National Flour (175%), and Neal & Massy (125%).

Filed Under: Company News, Stock Market, TTSE Market Tagged With: PE Ratios, TTSE

Buy rated: Coming in from the cold

February 1, 2014 by IC Insider.com

A number of the Buy Rated stocks are coming in from the cold as prices rose during the last week of January.

The Jamaica Stock market made big strides, separate and apart from the flurry of trading action emanating from the landmark announcement of Sagicor Group’s acquisition of RBC’s Jamaica operations. Wednesday’s trading activity was the best day for months as 21 stocks advanced in price and the main market indices climbed sharply on three consecutive days.

The Jamaican main market trading had 8 stocks climbing and only 1 declining. Sagicor Group gained 18 percent in the aftermath of the RBC takeover, Scotia Group put on 7 percent, Barita gained 4 percent and Caribbean Cement 3 percent.

The Junior market had mixed fortunes with three of the Buy Rated selections rising; Caribbean Producers gained 2 percent and Lasco Manufacturing 4 percent, while Caribbean Cream fell 9 percent and General Accident fell by 4 percent.

Only one stock lost value on the Trinidad Stock Market as First Citizens dipped 6 percent by week end and Sagicor Financial gained 4 percent.

Jamaica Stock Exchange | From inception of the Buy Rated list in July 2013, Barita is up 13 percent, Caribbean Cement 77 percent, Hardware & Lumber 76 percent, Sagicor Group 5 percent. Those with losses in the main market are all less than 10 percent with JMMB at 8 percent being the largest loser. Junior market stocks are not fearing as well with only Access Financial which was up to 44 percent when we pulled it and placed it as Market Watch. Caribbean Producers is up 35 percent so far and Blue Power way behind at 7 percent increase. The big losers so far are Lasco Manufacturing down 21 percent, Caribbean Cream 18 percent, Jamaican Teas off by 14 percent and Lasco Financial 10 percent.

Trinidad Stock Market | First Citizens, which gained 52 percent in the first round, is up 2 percent since being reinstated to the Buy Rated list even as the price declined from its peak. Neal & Massy is now up 11 percent, Grace Kennedy 12 percent, One Caribbean Media 8 percent, Republic 6 percent, Trinidad Cement 130 percent and 12 percent for Sagicor Financial. The losers number only 4 with Guardian Holdings down 14 percent, JMMB 2 percent, Point Lisas 8 percent and Scotia Investments 24 percent.

The coming week could be interesting in the Jamaican market as the past week showed signs of increased interest in the market. Will the interest continue into February or just a month-end dressing? Whatever the case, what is quite clear is that the supply of stocks for many of the Buy Rated stocks have been waning with some having virtually none on the sell side. February could see the return to a decisive bull market.

Image courtesy of tungphoto/FreeDigitalPhotos.net

Filed Under: Company News, JSE Main Market, Stock Market, TTSE Market Tagged With: Jamaican Stock, JSE Company, TTSE