Home' Trinidad and Tobago Guardian : March 16th 2014 Contents A28
Sunday Guardian www.guardian.co.tt March 16, 2014
Local market summary
Activity on the First Tier Market picked
up considerably this week with 2,913,504
shares crossing the floor with a value of
The Composite Index had a steeper
decline this week moving down by 7.08
points or 0.59 per cent to close at 1,182.92,
this mainly on account of the 11.54 per
cent decline in FirstCaribbean International
The All T&T Index on the other hand
increased by 12.23 points or 0.61 per cent
to close at 2,010.83.
Overall there were ten shares advancing
and five declining.
The volume leader was National Com-
mercial Bank of Jamaica which has been
very active of late; there were 682,600
shares traded or 23.43 per cent of all trades.
Jamaica Money Managers Brokers fol-
lowed with 621,987 shares traded or 21.35
per cent of all trades.
Trinidad Cement Limited followed with
598,794 shares traded or 20.55 per cent of
The largest advancing share was LJ
Williams B with an increase of 14.49 per
cent moving to $0.79.
National Flour Mills followed with an
increase of 7.48 per cent moving to $0.79.
Trinidad Cement rounded off the top three
with an increase of 5.50 per cent moving
The largest declining share was First-
Caribbean International Bank with a decline
of 11.54 per cent moving to $5.75.
Jamaica Money Managers Brokers fol-
lowed with a decline of 10 percent moving
Sagicor had the third largest decline of
0.81 per cent moving to $7.39.
On the Mutual Fund Market CLICO
Investment Fund had 174,190 shares traded
with a value of $3,771,253.83.
The Fund moved up by 0.70 per cent to
close at $21.65.
The Government of T&T---central gov-
ernment and state enterprises combined---
was the biggest borrower on the local bond
market in 2013, borrowing a total of $8.8
billion through bond issues.
Preliminary data in the Central Bank of
T&T s Economic Bulletin January 2014
shows that while the number of issues in
the primary bond market in 2013 was almost
the same as in 2012, the face value raised
was substantially different.
There were 12 bonds issued during 2013
raising a total of $10 billion, compared with
13 primary issues in 2012 which raised $4.5
billion. While the public sector continued
to be the main borrower in the primary
market, accounting for $8.8 billion of the
toal amount raised, there was increased
activity by the private sector.
In 2013, four private sector bond place-
ments occurred, totalling $1.2 billion, com-
pared with two issues in 2012 which raised
$350 million altogether.
Within the public sector, the central gov-
ernment issued three bonds with a com-
bined face value of $3 billion.
Two of those bonds were for liquidity
management purposes and were issued In
May and August 2013 for a combined total
of $1.6 billion. This was followed by the
private placement of a $1.5 billion bond in
September 2013 for budgetary support.
State enterprises Home Mortgage Bank
(HMB), T&T Mortgage Finance Company
(TTMF), National Insurance Property Devel-
opment Company (Nipdec), Urban Devel-
opment Corporation of Trinidad and Tobago
(Udecott), and The Sport Company of
Trinidad and Tobago (SporTT)) accounted
for five bond issues which raised $5.8 bil-
Three private sector companies---Uni-
comer Trinidad Ltd, Guardian Holdings Ltd,
and Sagicor Financial Corporation---accessed
the local domestic market for funding, issu-
ing bonds with a combined face value of
$1 billion. In the secondary bond market,
trading activity was slightly up in 2013 com-
pared with 2012.
Central Government bonds with a com-
bined face value of $1.5 billion were traded
during the year compared with $1.4 billion
in 2012. The number of transactions was
also higher, with 175 trades occurring in
2013 compared with 97 trades the year ear-
lier. There was a concentration of trading
activity in the months of January and August
Government was biggest
borrower in 2013
Three private sector companies---
Unicomer Trinidad Ltd, Guardian
Holdings Ltd, and Sagicor
the local domestic market for
funding, issuing bonds with a
combined face value of $1 billion.
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