HALF YEAR 2018 REVIEW

Transcription

1 HALF YEAR 2018 REVIEW Local Market Summary For the Half Year ended June 30, 2018 (HY18), all three Indices closed in the red territory. The Composite Index fell by 2.46 per cent or points to close at 1,235.23, the All Trinidad and Tobago Index slid 0.08 per cent or 1.38 points to end at 1,727.37and the Cross Listed Index decreased by 7.87 per cent or 8.53 points to close at The advance to decline ratio ended the six month period at 10 to 15. TTSE Market Summary for the Half Year Ended June 30, 2018 TTSE Market Summary for the Period June 30, 2017 to June 30, The trading activity on the First Tier Market for HY18 decreased by per cent with 33,688,549 shares traded compared to 42,267,019 shares traded in HY17. Q218 on Q217, the volume traded was down per cent from 22,762,777 shares in Q217 to 17,289,986 shares in Q218. When compared to (Q118), the market activity was up 5.44 per cent from 16,398,563 shares. The value of shares traded increased by per cent from $230,032, in Q118 to $271,159, in Q218. HY18 on HY17, the value of shares traded was up, 9.51 per cent from $457,670, (HY17) to $501,192, (HY18). GraceKennedy Limited (GKC) was the volume leader for HY18 with per cent of the market or 5,131,704 shares traded. NCB Financial Group Limited (NCBFG) was next with per cent of the total volume traded or 4,966,594 shares. JMMB Group Limited (JMMBGL) followed with per cent of all trades or 4,696,929 shares traded. The fourth volume leader was Sagicor Financial Limited (SFC) with per cent of market activity or 4,350,313 shares changing hands. Next was Trinidad and Tobago NGL Limited (NGL) which accounted for 6.41per cent of the trading volume in HY18 with 2,158,888 shares crossing the floor. On the TTD Mutual Fund Market, 4,023,524 CLICO Investment Fund (CIF) units traded during the first half of 2018 with a value of $78,260, compared to 4,336,569 units traded with a value of $97,686, in HY17. CIF s share price fell 2.38 per cent or $0.50 to end HY18 at $ Additionally, 21,847 units of Calypso Macro Index Fund (CALYP) traded with a value of $363, and the share price declined per cent or $4.90 to $ The top performer for HY18 was NGL, up per cent or $3.48 to close the six month period at $ The second major advance was First Citizens Bank Limited (FIRST), registering a 9.38 per cent gain or $3.00 to end HY18 Report - Page 1 of 5

2 An RBC Company at $ Scotiabank Trinidad and Tobago Limited (SBTT) followed, rising 8.17 per cent or $4.91 to close HY18 at $65.01 For the period under review, Trinidad Cement Limited (TCL) was the major decline, down per cent or $0.70 to close at $3.05. NCB Financial Group Limited (NCBFG) was next, down per cent or $0.82 to end at $5.45. This was followed by West Indian Tobacco Company Limited (WCO), which posted a per cent drop or $11.50 to close HY18 at $ Second Quarter Dividend Payments HY18 Report - Page 2 of 5

3 Highlights for the Second Quarter of 2018 April 2018 The Trinidad and Tobago Stock Exchange Limited (TTSE) received notice from FirstCaribbean International Bank Limited (FCI) advising of the withdrawal of the US registered public offering and listing of its shares on the NYSE in view of market conditions at this juncture. FCI had filed a registration statement in December 2017 relating to this public offering and proposed listing on the NYSE under the symbol FCI. May 2018 Republic Financial Holdings Limited (RFHL) advised that prior to 1 st May, 2018, CLICO Investment Bank Limited (In Compulsory Liquidation) (CIB-ICL) owned, beneficially owned or was entitled to 42,475,362 RFHL shares in its name, the name of its subsidiaries in addition to those held by the Deposit Insurance Corporation (as liquidator for and on behalf of CIB-ICL). RFHL further advised that pursuant to a dividend distribution supported by an order of the court dated January 25 th, 2018, CIB-ICL through its participant executed various put throughs of a total of 42,475,362 RFHL shares to the following: 1. The Government of the Republic of Trinidad and Tobago 2. The National Gas Company of Trinidad and Tobago 3. La Brea Industrial Development Company Limited 4. National Enterprises Limited 5. National Energy Corporation of Trinidad and Tobago 6. Colonial Life Insurance Company (Trinidad) limited On May 15, 2018, the Hearing Panel convened by the Trinidad & Tobago Securities and Exchange Commission (TTSEC) adjourned until further notice the Hearing into matters related to NCB Global Holdings Limited s bid for control of Guardian Holdings Limited. NCB Global Holdings Limited is a company incorporate in Trinidad & Tobago and a wholly owned subsidiary of NCB Financial Group Limited. The adjournment by the Hearing Panel was at the request of the Parties in order to facilitate activities aimed at amicably resolving the matter. NCB Global Holdings Limited and other relevant parties (including the Staff of the TTSEC) will pursue those activities, which will end with either a resolution of the matter or a date being for the resumption of the hearing. June ,112,384 Bourse Brazil Latin Fund (BBLF) will be de-listed from the Trinidad and Tobago Stock Exchange Limited (TTSE) effective 14th June The de-listing order was granted by the Trinidad and Tobago Securities and Exchange Commission pursuant to an application for de-listing made by the TTSE following BBLF s conversion from a Close- HY18 Report - Page 3 of 5

4 end Fund to an Open-end Fund which resulted in the suspension of all outstanding and publicly traded shares in BBLF effective May 29th Fixed Income Market Summary for the Second Quarter of 2018 As indicated in the June 2018 Monetary Policy Announcement released by the Central Bank of Trinidad & Tobago (CBTT), headline inflation increased to 1.1 per cent in April 2018 from 0.30 per cent in March Also CBTT raised the repo rate by 25 basis points to 5.00 per cent after considering the following factors: o growth in the energy sector o pickup in the private sector o continued low inflation o strong upward trajectory of external interest rates In June 2018, the yield on the 3-month, 6-month and 1-year Open Market Operations (OMO) stood at 1.20 per cent, 1.76 per cent and 2.65 per cent respectively from 1.20 per cent, 1.75 per cent and 2.72 per cent a year earlier. The Government of Trinidad and Tobago is expected to issue National Investment Fund (NIF) bonds to raise TT$4.0 billion dollars. This IPO is expected to run from July 11 th to August 8 th 2018 pending approval from the Trinidad and Tobago Security Exchange Commission (TTSEC). Key Rates Energy Prices HY18 Report - Page 4 of 5

5 Gas Prices Global Market Indices (Statistics provided were based on price and indices data available as at June 30, 2018) Member of the Trinidad and Tobago Stock Exchange Limited P.O. Box 259, St. Clair Place, 8 Sweet Briar Road, Port of Spain, Trinidad W.I. TEL: (868) 628-WISE (9473) FAX: (868) wiseinfo@wisett.com (WISE) is a subsidiary of RBC Financial (Caribbean) Limited. From time to time WISE and/or its staff may take positions in some or all of the securities mentioned in our report. WISE welcomes your comments. Please us at wiseinfo@wisett.com. HY18 Report - Page 5 of 5