TTSE: 3 new highs but volume back to earth

January 16, 2014 by

Thursday, 16th January 2014 | There were 3 new highs at the end of trading in Trinidad, and the volume of stocks trading fell back from Wednesday’s high, but with the same number of securities being active; 16 securities of which 5 advanced, 4 declined and 7 traded firm.

The Composite Index gained 2.27 points to close at 1,195.56, the all T&T Index advanced by 7.43 points to 2,017.24 and the Cross Listed Index inched down by 0.35 points to end at 49.14. Trading volume amounted to 562,147 shares with a value of $9,362,629, well down on the $33 million of trading on Wednesday.

Stocks advancing | Stocks to enjoy gains during the day include First Citizens Bank added 48,382 units valued at $2,056,291 with the price hitting yet another high, increasing by 40 cents to $43; Neal & Massy Holdings contributed 36,990 shares with a value of $2,316,565, the price rose by $1 to end the at $63, a new 52 weeks high; National Enterprises added 27,500 shares valued at $495,000 the price gained 40 cents to $18, for a 52 weeks high; Grace gained 8 cents to end at $370 with only 300 shares changing hands and Republic Bank gained 4 cents to close at $116.18 with just 270 units.

Stocks falling | Angostura Holdings traded 66,156 shares for $780,641 but the price slipped 19 cents to close at $11.80; Point Lisas Industrial Port Development lost 10 cents to close at $3.50 while trading 17,200 units; Scotia Investment lost 7 cents in closing at $1.43 with 1,800 units and National Commercial Bank ended up shedding 6 cents to close at $1.05 as 5,000 units traded.

TTSEJan16Stocks traded firm | Stocks that traded unchanged in price include Trinidad Cement with 180,299 shares changing hands for $414,688 with the price closing at $2.30; Sagicor Financial 20,000 units closing at 7.30; National Flour Mills 3,542 shares at 96 cents; Guardian Holdings 2,660 units at $13.76.

Clico Investment Fund with 174,950 shares valued at $3,936,462 as the price remained at $22.50.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 3 stocks with bids higher than the last selling prices and 4 stocks with offers that were lower.

Filed Under: Stock Market, TTSE Market Tagged With: , ,

BOJ ups FX market activity

January 16, 2014 by

During January there were some days of unusually high levels of selling of foreign exchange, which were well in excess of the amounts bought. These increased levels points to the country’s central bank having some input into the trades.

IC Insider made contact with Bank of Jamaica who provided the following response.

“Since the start of January 2014 to the 10th, BOJ’s purchase of foreign exchange from the market was a daily average of US$9.95 million. This compares with a daily average of US$8.74 million for December 2013. However, the average daily sales to the market (public sector entities) was US$11.12 million compared to US$2.0 million in December”.

Filed Under: FX Market, Stock Market Tagged With: , , ,

FX: Selling exceeds buying by US$1m

January 15, 2014 by

Wednesday, 15th January 2014 | The purchasing of foreign currency totalled the equivalent of US$28,558,748 and sales amounted to US$29,402,338 or just US$1 million difference.

Trading in individual currencies saw US$23,930,242 being purchased at an average of $105.98 for an 11 cent decline and sales of US$24,603,488 for a 5 cent increase to $106.76. Buying of the Canadian dollar amounted to C$917,128 at $96.28 for a fall of 46 cents and selling saw the rate increasing by 71 cents to $98.61 as C$1,904,805 was sold. The British Pound was purchased at $173.90 by dealers as they bought £2,215,311 as the rate moved up by $1.17 for the day and sold £1,636,308 at $175.95, down by $1.28.

FX_TRADE+Currency+Jan15Other currencies bought amounted to the equivalent of US$160,030 and selling was for US$342,780.

Highs & Lows | The highest buying rate for the US dollar closed at $107.50, an increase of 25 cents, the lowest buying rate climbed 17 cents to $87.01. The highest selling rate remained unchanged at $109.41 and the low jumped $16.18 to $102.60.

The highest buying rate for the Canadian dollar ended at $98.60, a 66 cents decrease, while the low closed up 29 cents at $78.31. The highest selling rate increased by $1 at $101.50 and the lowest closed down 25 cents at $94.10.

FX_TRADE+HighLow+Jan15The highest buying rate for the British Pound ended at $176.75, up 55 cents and the low was unchanged at $140.27. The highest selling rate was up by 36 cents to end at $178.47 and the low closed up 80 cents at $169.80.

Filed Under: FX Market, Stock Market Tagged With: , ,

JSE: Advancing stocks even with declining ones

January 15, 2014 by
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Wednesday, 15th January 2014 | In today’s trading on the Jamaica Stock Market, a total of 2,118,071 shares changed hands, for a value of $9,334,966, with 11 stocks advancing in price and 10 declining.

At the close of trading, the JSE Market Index declined by 24.33 points to close at 79,840.96, the JSE All Jamaican Composite eased by 36.92 points to close at 81,083.43 but the JSE Junior Market Index advanced by 3.87 points to close at 789.94.

KLE Group stock closed at $1, a new all-time low and has lost 72 percent from the IPO price and Jamaican Teas closed at $3.06 a new 52 weeks low.

Main Market | The main traded stocks in the main market include Cable & Wireless with 211,849 units to close at 18 cents; Caribbean Cement 77,500 units as the priced closed at $3.39; Carreras gained 49 cents while trading 54,830 units to close at $38; Desnoes & Geddes 153,360 units to close at $5; Grace Kennedy gained $1 to close at $56 with only a small volume; Jamaica Money Market Brokers 13,375 shares at $7.50; Jamaica Producers 15,142 shares to close at $18.75; Mayberry Investments 506,760 shares at $2; National Commercial Bank 27,640 units with the price ending at $17.50 after falling by 12 cents; Pulse Investments 50,000 shares with the price closing up 22 cents at 99 cents; Sagicor Group gained 5 cents with 52,680 shares, to end at $8.20; Sagicor Real Estate X Fund 34,356 units at $6.50; and Scotia Group 69,270 units to close at $20.80 up by 70 cents.

Jamaica Money Market Brokers 8.75% preference shares trade 281,061units to close firm at $3.

JSEIndicesJan15Junior Market | Trading in junior market stocks saw the main trades as AMG Packaging 22,857 shares to close at $3.48; Caribbean Cream 54,641 units, closing at $1, after reporting earnings in the November quarter of $11 million or 3 cents per share; Caribbean Producers 198,848 units to close firm at $2.75; Consolidated Bakeries 41,435 shares to close at $1.15; Dolphin Cove gained 50 cents to close at $9 on a small volume; Jamaican Teas 35,200 shares at $3.06 down, 34 cents; KLE Group 16,000 units down 10 cents, at $1; Lasco Financial Services 65,000 units at $1.30; Lasco Manufacturing 88,467 shares at $1.29 and Medical Disposables & Supplies 13,500 units at $2.

Knutsford Express was listed today. There was no trade but there was a bid for 19,626 shares at $5.01.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with bids higher than the last selling prices and 2 stocks with offers lower.

Filed Under: JSE Main Market, Stock Market Tagged With: , ,

TTSE: Trading picks up with $33m

January 15, 2014 by

Wednesday, 15th January 2014 | Trading activity picked up strongly on the Trinidad Stock market with trading in 16 securities of which 6 advanced, 1 declined and 9 traded firm as $$32,858,058 chased 676,587 shares.

All three indices gained during trading with the Composite Index moving up by 3.14 points and closed at 1,193.29, the All T&T Index advanced by 5.28 points to close at 2,009.81 and the Cross Listed Index inched up .13 points to 49.49.

Stocks advancing | The main trades to take place reflecting gains include First Citizens Bank which added 48,382 units valued at $2,056,291 with the price hitting yet another high, increasing by 20 cents to $42.60; Grace Kennedy gained 17 cents to end the day at $3.62 with 30,456 units; IC Insider Buy Rated Neal & Massy Holdings jumped $1.38 to end the day at $62 a new 52 weeks high with 3,35 shares changing hands; Scotiabank traded a relatively large volume of 103,134 shares for $7,539,163 with the price reaching a new 52 weeks high of $73.10 up 9 cents.

Angostura Holdings traded 13,098 units falling a cent to end the day at $11.99.

TTSEJan15Stocks traded firm | ANSA McAL closed at $66.30 with 250,000 shares changing hands for a value of $16,574,982; National Flour Mills contributed 103,070 shares with a value of $98,947 and the price closed at 96 cents; West Indian Tobacco 45,257 shares at $120; Sagicor Financial Corporation 41,691 shares at $7.30; Jamaica Money Market Brokers 10,000 shares at 50 cents; Guardian Media 3,609 shares at $19.50; Trinidad Cement, traded just 10,503 units to end at $2.30.

Clico Investment Fund, traded 10,785 shares valued at $242,663 but the price remained at $22.50.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 7 stocks with bids that were higher than the last selling prices and 4 stocks with offers that were lower.

Filed Under: Stock Market, TTSE Market Tagged With: , ,

Is aluminium vehicles good news?

January 15, 2014 by

At the recent Detroit Auto Show, Ford introduced an aluminium-bodied F-150 pickup that is as much as 700 pounds (318 kilograms) lighter, than the predecessor, making it the “most fuel efficient it’s ever been”, Ford CEO Alan Mulally said.

“Overall, up to 700 pounds of weight have been saved, helping the F-150 tow more, haul more, accelerate quicker and stop shorter, and contributing to efficiency,” Ford says in a statement about the new truck.

Ford will expand its use of aluminium, which is more costly than steel, throughout its line-up, starting with larger models that can realize the biggest weight savings, he said. Aluminium is more expensive to utilise but offers benefits such as less weight for the vehicle thus saving on fuel as well as being a longer lasting and tougher material, Mulally said. Aluminium is said to costs about twice as much as steel, but the vehicles will be made from an alloy of aluminium.

As reported in ABC News, Brian Johnson of Barclays Capital estimates Ford earns about $11,000 on a pickup truck sale compared to $5,000 for a car, the Los Angeles Times reported, and the F-Series trucks comprises nearly half of Ford’s North American profits.

Aluminium is already being used in motor vehicles but has not replaced steel, the historical material of choice for more than a century. If Ford succeeds with usage across the majority of its vehicles, it’s likely to result in others in the industry doing likewise. Jamaica would stand to benefit, as greater usage could mean greater demand for alumina which historically is a major export product for the country.

Image courtesy of wandee007/FreeDigitalPhotos.net

Chart via The Wall Street Journal

 

Filed Under: Economy Tagged With:

FX: US$ rates rise, Pound falls

January 14, 2014 by

Tuesday, 14th January 2014 |  In forex trading, the US dollar rates climbed while the Pound sterling declined and the Canadian dollar rates were mixed.

Purchases of the US dollar currency amounted to US$25,354,603 as the buying rate rose by 10 cents to end at $106.09 and selling amounted to US$21,692,122 but the rate inched up by 2 cents to $106.71.

The Canadian dollar gained 32 cents in buying C$1,579,432 to close at $96.74 and C$927,912 was sold at $98.90, a fall of 19 cents.

Purchases of the British Pound amounted to £1,132,395 but the rate was unchanged at $172.73 and selling amounted to £448,682, the rate fell 30 cents to $174.67.

FX_TRADE+Currency+Jan14Other currencies bought, amounted to the equivalent of US$229,172 with selling of US$484,436. Total currency purchases amounted to US$28,867,835 and selling of US$23,762,273, US dollar equivalent.

Highs & Lows | The highest buying rate for the US dollar closed at $107.25, a decline of 35 cents, the lowest buying rate climbed 42 cents to $86.84. The highest selling rate dropped by $1.87 to $109.41 but the low was unchanged at $86.42.

FX_TRADE+HighLow+Jan14The highest buying rate for the Canadian dollar ended at $99.26, a 26 cents increase, while the low remained at $78.02. The highest selling rate fell by $2.50 at $100.50 and the lowest closed up 35 cents at $94.35.

The highest buying rate for the British Pound ended at $176.20, down 45 cents and the low fell 83 cents at $140.27. The highest selling rate dropped by $3.79 cents to end at $178.11 and the low closed down $1 at $169.

Filed Under: FX Market, Stock Market Tagged With: , ,

JSE: Advancing stocks beat decliners 11 to 7

January 14, 2014 by

Tuesday, 14th January 2014 | Advancing stocks outnumbered declining stocks 11 to 7 on the Jamaica Stock market as only 1,448,262 shares changed hands for a value of $9,395,467. The two main market indices declined with the JSE Market Index falling by 85.21 points to close at 79,865.29, the JSE All Jamaican Composite declined by 129.25 points to close at 81,120.35 and the JSE Junior Market Index fell by 0.80 points to end at 786.07.

Hardware & Lumber traded 2,100 units to close at a new 52 weeks high of $9 by jumping $1.72.

Main Market | Elsewhere in the main market, the stocks with noticeable trading include Caribbean Cement with 102,720 units to close at $3.40; Carreras 53,634 units to end at $37.51 for a 51 cents gain; Desnoes & Geddes 51,578 shares closing at $4.98; Grace Kennedy gained $1.17 to close at $55 as 3,620 units of the company’s stock changed hands; Jamaica Broilers with 89,153 units to close at $4.72; Jamaica Money Market Brokers 19,400 shares to close at $7.50; Jamaica Stock Exchange regained 30 cents with 50,000 units to close at $2.10; Kingston Wharves 55,139 shares at $6.15; Sagicor Group had 41,839 units to close unchanged at $8.15; Sagicor Real Estate X Fund 21,051 units at $6.50 and  Scotia Group 177,587 shares at $20.10, down 41 cents.

TTSEJan14Junior Market | Trading of junior market stocks saw Caribbean Producers exchanging 84,600 shares to close firm at $2.75; Honey Bun traded 2,000 units as the price fell by 22 cents to close at $3.19; Lasco Distributors with 371,737 units trading firm at $1.45; Lasco Financial Services 82,400 shares at $1.26 inching down by 4 cents and Lasco Manufacturing 181,269 units at $1.29.

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 2 stocks with offers lower.

Filed Under: JSE Main Market, Stock Market Tagged With: , ,

TTSE: Market moving up slowly

January 14, 2014 by

Tuesday, 14th January 2013 | In trading on the Trinidad stock market, the Composite Index advanced by 0.57 points to close at 1,190.15; the All T&T Index gained 1.14 points to end at 2,004.53 while the Cross Listed Index remained unchanged at 49.36.

Trading activity resulted in 962,928 shares changing hands for a value of $34,050,938.

There were 14 securities trading on a day when there were two new 52 weeks highs and the price of 6 stocks advanced, 3 declined and 5 remained unchanged.

Stocks trading up in price include First Citizens Bank that reached yet another record closing high at $42.40 for a gain of 70 cents as investors traded 646,214 shares for a value of $27,237,021; Clico Investment Fund posted a volume of 206,562 shares valued at $4,646,748 with the price advancing by 25 cents to end at $22.50; Scotia Group gained 24 cents for a new 52 weeks high of $73.01 and Neal & Massy 2,125 units up 4 cents at $60.62.

Stocks declining include Angostura Holdings that fell 43 cents to close at $12.00; Point Lisa 5,845 units at $3.60 down by 5 cents, and Trinidad Cement off by 3 cents at $2.27.

Stocks trading unchanged include Guardian Holdings 4,101 units to close at $13.75; Jamaica Money Market Brokers with a volume of 39,340 shares being traded for $19,670 closing at 50 cents; National Flour Mills contributed 16,109 shares with a value of $15,464.64, while Trinidad Cement added 14,500 shares valued at $32,850.00.

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 2 stocks with offers lower.

Filed Under: Stock Market, TTSE Market Tagged With: , ,

FX: US$ sell rate falls, also GBP rates

January 13, 2014 by

Monday, 13th January 2014 | In Forex trading, total currency purchases amounted to US$41,818,461 and selling of US$43,964,802 as the US dollar declined and Canadian dollar rose against the Jamaican dollar.

Purchases of the US dollar currency amounted to US$35,368,225, slightly more than the US$24,088,617 purchased on Friday.  The buying rate rose by 3 cents to end at $105.99 and selling climbed to US$40,418,942 but the rate fell by 5 cents to $106.69. Sales on Friday was US$30,874,993 in contrast. The Canadian dollar gained 37 cents in buying C$2,028,009 to close at $96.05 and C$1,278,207 was sold at $98.09, a gain of 21 cents.

FX_TRADE+Currency+Jan13Purchases of the British Pound amounted to £2,357,508, and the rate fell by $1.57 to $172.74 and selling amounted to £1,019,811. The rate fell 94 cents to $145.97. Other currencies bought, amounted to the equivalent of US$763,267 with selling of US$698,202.

Highs & Lows | The highest buying rate for the US dollar closed at $107.60, increasing by 50 cents, the low was unchanged at $86.42. The highest selling rate moved up by 53 cents to $111.28 and the low dropped $16.18 to $86.42.

The highest buying rate for the Canadian dollar ended at $99, a 50 cents increase, while the low remained at $78.02. The highest selling rate ended up $1 at $103 and the lowest closed unchanged at $94.

FX_TRADE+HighLow+Jan13The highest buying rate for the British Pound ended at $176.65, up 25 cents and the low closed up $1.16 at $141.10. The highest selling rate grew by $3.94 cents to end at $181.90 and the low closed at $170, up by 90 cents.

Filed Under: FX Market, Stock Market Tagged With: , ,
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