BASSETERRE St. Kitts, January 9th, 2012 -- Welcome to the Eastern Caribbean Securities Exchange daily update for 6 January 2012 providing the latest trading information and financial tips for the investor.
On the Eastern Caribbean Securities Market today, 498 East Caribbean Financial Holding Co Ltd shares traded at $11.30 per share, holding firm on its previous market close and 4,934 St Kitts Nevis Anguilla National Bank Ltd shares traded at $2.40 per share, slipping five cents or 2.04% from its previous market close.
Also, 66 St Kitts Nevis Anguilla National Bank Ltd shares traded odd lot at $2.42 per share. On the Regional Government Securities Market, the Government of Saint Lucia’s EC$16 million 91-day Treasury bill issue, auctioned using the primary market platform of the Eastern Caribbean Securities Exchange (ECSE), was oversubscribed by EC$6.89 million. A competitive uniform price auction methodology was used and the resulting discount rate was 3.998 per cent.
Here are the latest closing prices for the equities listed on the ECSE:
The Bank of Nevis Limited ……............................................ $5.75
Cable & Wireless St Kitts & Nevis Limited ……................. $5.58
Dominica Electricity Services .…....................................…. $3.00
East Caribbean Financial Holding Company …….......... $11.30
FirstCaribbean International Bank ……............................... $5.50
Grenada Electricity Services Limited ……....................... $11.00
Grenreal Property Corporation Limited ...…................….. $5.40
Republic Bank (Grenada) Limited …..........................….. $55.00
St Kitts Nevis Anguilla National Bank ……......................... $2.40
St Lucia Electricity Services …....................................….. $12.50
S. L. Horsford & Company ……........................................... $1.50
Trinidad Cement Limited …............................................….. $3.40
TDC ……................................................................................. $1.55
And today's financial tip:
In discussions on the Regional Government Securities Market the words ‘Auction’ and ‘Issue’ are used – is there a difference? Auction is the process or method by which the securities are sold while issue is the actual delivery of the securities to purchasing investors.
The auction determines who will be sold the securities – in a competitive auction the securities are allotted to the investors offering the best prices while in a noncompetitive auction the securities are allotted on a first-come first-serve basis.
The issue takes place on the following working day when payment is received from successful investors and the securities are delivered to their accounts.
Join us next time for the Eastern Caribbean Securities Exchange trading report.
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