YEAR END 0 REVIEW Local Market Summary The local equity market for the year ended December, 0 (YE) saw both the Composite and All Trinidad and Tobago Indices post double digit gains while the Cross Listed Index closed in negative territory. The Composite Index increased.7 per cent or 0.07 points to end the year at,8.0, the All Trinidad and Tobago Index advanced 7.67 per cent or 99. points to,99.7 while the Cross Listed Index closed YE at 9., falling. per cent or 6.90 points. In the Fourth Quarter alone (), the Composite Index and All Trinidad and Tobago Index rose.6 per cent and.0 per cent respectively and the Cross Listed Index lost.8 per cent. Overall for 0, there were 7 stocks advancing and 0 declining. Composite Index 0 00 0 00 0 00 00 000 90 TTSE Market Summary for the Year Ended December, 0 Dec- Jan- Feb- Composite Index All T&T Index Mar- Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- 00 000 90 900 80 800 70 700 60 There was an outstanding increase in volumes traded on the First Tier Market for YE. A total of 97,98,89 shares crossed the floor of the exchange in 0 compared to 0,677,86 shares in 0. This represented a notable increase of 9. per cent. on Q, market activity more than doubled, up a significant 8.7 per cent from,06,79 shares (Q) to,90,0 shares (). When compared to the previous quarter (Q), volumes traded declined 6.7 per cent from,9,88 shares. The value of shares traded increased 8.0 per cent from $76,60,0.68 in YE to $,0,,67.06 in YE. Trinidad Cement Limited (TCL) was the volume leader with 8.89 per cent of the market or 8,07,08 shares traded. This was followed by Jamaica Money Market Brokers Limited (JMMB) with 6.6 per cent of the total volume traded or,9,70 shares changing hands. Next was Sagicor Financial Corporation (SFC) which accounted for. per cent of all trades with,8,88 shares traded. On the TTD Mutual Fund Market, a notable,6,8 CLICO Investment Fund (CIF) shares traded in YE valued at $,8,8.0. The share price closed YE at $.99. In addition, 09, Praetorian Property All T&T Index
Mutual Fund (PPMF) shares traded with a value of $99,7.90. PPMF s share price declined.8 per cent or $.0 in YE to close at $.. The top gainer for YE was First Citizens Bank Limited (FIRST), up a noteworthy 8.9 per cent or $8. to close at $0.. The second major advance was National Flour Mills Limited (NFM), rising a commendable 8. per cent or $0. to $0.9. TCL was next, registering a 7.6 per cent gain or $0.7 to end the year at $.0. Top Advances for YE FIRST $.00 $0. NFM $0.60 $0.9 TCL $.9 $.0 WCO $8.00 $0.00 AHL $8.99 $.7 Top Declines for YE $.0 $.0 LJWB $0.89 $0.6 GHL $8.0 $.00 $. $. FCI $7.0 $6.0 8.9% 8.% 7.6%.8% 8.7% -.78% -6.97% -.% -.9% -.% Top Advances for AHL $0.0 $.7 FIRST $.0 $0. NFM $0.86 $0.9 NEL $6. $7. NML $6. $60.0 Top Declines for $.99 $.0 GHL $.0 $.00 FCI $6.7 $6.0 $. $. PLD $.7 $.70.08%.97% 0.7% 8.87% 6.9% -.6% -6.7% -.70% -.77% -.% For YE, Scotia Investments Jamaica Limited () led the declines, down.78 per cent or $0.80 to $.0. This was followed by L.J. Williams B Limited (LJWB) with a decline of 6.97 per cent or $0. to close at $0.6. The third major decline was Guardian Holdings Limited (GHL), which fell. per cent or $.0 to $.00. Dividend Payments Security SBTT AMBL PHL AMCL GML GMLP WCO SFC SFCP Dividend $0.0 (TI) J$0. (TI) $0. (I) $0. (I) $0.0 (I) $0.8 (I).00% (I) $.07 (TI) US$0.0 (I) US$0.0 (I) Ex-Div 0/09/ 6/09/ 0/09/ 0/0/ /0/ /0/ /0/ 0/0/ /0/ /0/ Record 09/09/ 8/09/ 0/0/ 07/0/ /0/ /0/ /0/ 0// /0/ /0/ Payment 08/0/ 09/0/ /0/ /0/ 08// 08// 08// // // // Security Dividend Ex-Div Record Payment RBL $.00 (F) // 8// 0// GKC J$0.70 (TI) 0// // // J$0.6 (F) 7// 9// // FFL $0.0 (I) 7// 9// // NEL $0. (I) 06// 0// 6// JMMB J$0.6 (I) // 7// 8// All dividends quoted in Trinidad and Tobago Dollars unless otherwise stated
Highlights for the Fourth Quarter of 0 December 0 Sagicor Financial Corporation ( Sagicor or the ) announced that the received approval from the regulatory authorities in the United Kingdom and the Cayman Islands to sell Sagicor Europe Limited (''SEL'') and its subsidiaries, which include Sagicor at Lloyd s Limited (SAL), to a whollyowned subsidiary of AmTrust Financial Services, Inc. SAL is the managing agent of Lloyd s property/casualty insurance syndicate 06, with stamp capacity of 00 million, and life insurance syndicate, with stamp capacity of 7 million. SEL is a Cayman Islands-domiciled holding company, and the sale also includes a reinsurance entity and two Lloyd's corporate members. The transaction will provide cash proceeds of 86 million to Sagicor, which consists of 6 million purchase price and the release of 0 million, which supported a Letter of Credit. Mr. Arthur Lok Jack, Group Chairman of Guardian Holdings Limited (GHL) confirmed that it has voluntarily applied to the Jamaica Stock Exchange (JSE) to have its shares delisted from the JSE pursuant to Rule B. The JSE in turn has approved GHL s request. The action by GHL was reached after it undertook a thorough analysis of the costs and benefits of maintaining its dual listing on the Trinidad and Tobago Stock Exchange (TTSE) and the JSE. This analysis revealed that, trading activity on the JSE represents less than.% of the overall trading activity in GHL shares. As a result of this voluntary move, GHL closed its register on December, 0 and its shares were delisted on December, 0. Thereafter, Jamaican investors can continue to trade GHL shares through the Trinidad and Tobago Stock Exchange, where its shares will trade as normal. FirstCaribbean International Bank Limited informed the Stock Exchange that on December, 0, the Board of Directors appointed independent director Mr. David Ritch OBE, JP as Chairman of the Board. Mr. Ritch has been a director since 00. Mr. Arthur Lok Jack, Chairman, Guardian Holdings Limited (GHL) announced the promotion of Mr. Ravi Tewari to the position of Group Chief Executive Officer effective January, 0. He will replace Mr. Jeffery Mack who retired on December, 0. October 0,87,0 Fortress Caribbean Property Fund Units (CPF) were de-listed from the Stock Exchange on Monday October 8, 0. The de-listing order was granted pursuant to an application for de-listing made by the Exchange subsequent to the restructuring of CPF which was approved by its unit holders at a special meeting held on September 6, 0. Jamaica Money Market Brokers Limited informed the Stock Exchange that Jamaica Money Market Brokers Limited through Jamaica Money Market Brokers (Trinidad and Tobago) Limited (their Trinidadian holding company) has obtained 00% ownership of Intercommercial Bank Limited and Intercommercial Trust & Merchant Bank Limited (IBL Group), having concluded the transaction to acquire the remaining 0% shareholding in those entities on October, 0; making it JMMB s very first commercial bank. JMMB acquired its initial 0% holding in IBL, in 00. Fixed Income Market Summary According to the January 0 Monetary Policy Announcement released by the Central Bank of Trinidad and Tobago (CBTT), Headline Inflation, on a year on year basis, accelerated to.60 per cent in December 0, up from.0 per cent in November 0. Core inflation, which excludes the impact of food prices, remained unchanged at.00 per cent in December 0.
In December 0, the yield on the -year Market Operations (OMOs) rose minimally to 0. per cent from 0. per cent in November. The Central Bank has maintained the Repo Rate, the rate at which it lends to commercial banks, at.7 per cent. Key Rates Jamaica Market Summary Dec 0 Nov 0 Dec 0 Month OMO 0.7% 0.%* 0.0% 6 Month OMO 0.8% 0.9% 0.60% Year OMO 0.% 0.%.00% Dec 0 Nov 0 Dec 0 Repo Rate.7%.7%.7% Headline Inflation.60%.0% 7.0% *based on last month auction held on October 6, 0 In Jamaica, the major benchmark, the JSE Market Index, declined,67.67 points or. per cent to close 0 at 80,6.. A total of,88,66, shares traded on the Jamaica Stock Exchange in 0, a decline of.99 per cent when compared to the,,,7 shares traded in the prior year. However, on Q, trading activity was up 8. per cent from,776,07 shares in Q to,9,88 shares in. Comparing on Q, the volume of shares traded increased. per cent from 6,7,070 shares in Q. The value of shares traded for the year under review totalled J$,08,0,99., a decline of. per cent from 0 s total of J$8,9,7,6.6. The volume leader was LIME with,0,9 shares traded or.0 per cent of the market. Caribbean Cement Limited (CCC) was the major advance for the year, up 0.00 per cent or J$.0 to J$.0 followed by Hardware & Lumber (HL), which saw an increase of 79. per cent or J$.70 to J$6.0. Next was Ciboney Group Limited (CBNY), advancing 66.67 per cent or J$0.0 to end the year at J$0.0. The major decline for the year was Radio Jamaica Limited (RJR), which fell.67 per cent or J$0.69 to J$.0. Seprod Limited (SEP) was next in line down.6 per cent or J$.00 to J$0.0. Following was Berger Paints Limited (BRG), which registered a.6 per cent drop or J$0.8 to J$.7. Energy Prices Value as at Dec, 0 % % WTI Crude Oil Spot (US$/bbl) 98. -.9 -.8% 6.60 7.9% Henry Hub Natural Gas Spot (US$/mmbtu). 0.8.6% 0.9 6.77% Source: Bloomberg
Global Market Indices Value as at Dec, 0 % % US DOW 6,76.66,6.99 9.6%,7. 6.0% S&P 00,88.6 66.8 9.9%.7 9.60% NASDAQ,76.9 0. 0.7%,7.08 8.% EUROPE FTSE 00 6,79.0 86.90.% 8.0.% DAX 0 9,.6 97.76.%,99.77.8% CAC 0,9.9..68% 6.88 7.99% ASIA Nikkei 6,9.,8..70%,896. 6.7% Hang Seng,06.9 6..9% 69.7.87% (Statistics provided were based on price and indices data available as at December, 0) Member of the Trinidad and Tobago Stock Exchange Limited P.O. Box 9, St. Clair Place, 8 Sweet Briar Road, Port of Spain, Trinidad W.I. TEL: (868) 68-WISE (97) FAX: (868) 6-00 EMAIL: 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 e-mail us at wiseinfo@wisett.com.