Trinidad Cement price drops sharply

Trading volumes fell on the Trinidad & Tobago Stock Exchange on Wednesday even as 13 securities changed hands compared to 12 on Tuesday. Trinidad Cement, the target by Cemex to acquire majority shares, traded with lower volumes than before the closing day of the offer, with price falling off from its recent record high.
The market closed with the All Composite and the All T&T indices sustaining losses. Trading activity resulted in 3 stocks advancing, 8 holding firm and 2 declining. A total of only 95,386 units were exchanged at a value of $2,016,084 compared to 757,514 shares valued at $7,647,257 on Tuesday.
The Composite Index lost 1.03 points to 1,222.02, the All T&T Index declined 2.20 points to 1,837.12 and the Cross Listed Index only added 0.02 points to 81.19.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with 8 stocks with bids higher than last selling prices and 9 with lower offers.
Gains| Grace Kennedy gained 4 cents to close at $2.68 with 35,738 units changing hands, Guardian Holdings added 3 cents, closing at $13.13 with an exchange of 477 shares and Sagicor Financial closed at a 52 weeks’ high of $8.55, an increase of 9 cents with 10,000 shares being traded.
Losses| Republic Financial Holdings closed at $108.34, a loss of 4 cents with trades of 1,744 shares and Trinidad Cement traded 4,000 shares to close at $5.05, after losing 45 cents.
Firm Trades| Ansa McAL closed at $65.84 with 40 units changing hands, Clico Investment traded 18,224 shares valued at $411,481 and closed at $22.58, National Enterprises exchanged 100 shares holding firm at $10.77, National Flour Mills was unchanged at $2.70 with an exchange of 3,651 shares. Prestige Holdings closed at $11 with trades of 422 units, Scotiabank with an exchange of 20,100 units valued at $1,180,863, to close at $58.75, Trinidad & Tobago NGL traded 470 shares and closed at $2.65 and L.J. Williams 8% preference share remained unchanged at $3.30 with 420 units, with ownership being switched.