Caribbean stock market weekly report
Published:Wednesday | May 25, 2011 | 12:00 AM
While the main markets were flat, the Junior Market turned in a strong performance for the week as 85,593,072 shares, valued at $4,264,606, crossed the floors of the six stock exchanges across Caricom for the week, with 38 stocks advancing, 28 declining and 55 remaining unchanged.
Cable and Wireless Jamaica was the volume leader with 60,212,662 shares being traded, Citizens Bank Guyana posted the largest gain for the week (29.80 per cent). On the losing end, Freeport Oil Holdings fell 8.30 per cent. For the week, 14 of the CSX 30 stocks advanced, nine declined and 17 were unchanged.
The CSX 30 lost 3.33 points to close the week at 1,204.2, up 6.34 per cent year to date.
On the junior market, eight stocks advanced and two declined as the CJSX advanced 111.93 points to close the week at 1,232.60, up 7.55 per cent for the year.
The CJSX was led by Lasco Distributors, which posted a gain of 26.41 per cent; Dolphin Cove, which gained 14.1 per cent; and Lasco Manufacturing which gained 14.04 per cent for the week. Table 1 provides a summary of the broad market indices for the week as well as some international reference points.
SECTOR ANALYSIS
It was a week where the sector indices, with the exception of the CTRX, which posted a marginal increase, registered declines.
The CMSX registered the largest drop for the week (0.83 per cent) as 12 manufacturing stocks advanced, 10 declined and seven were unchanged.
While Seprod posted a 4.55 per cent gain, Demerara Distillers a 3.55 per cent gain and Caribbean Cement a 2.54 per cent gain, the index was dragged down by losses for Trinidad Cement (7.41 per cent), Jamaica Broilers (6.80 per cent) and Angostura Holdings (2.42 per cent).
The net effect was that the CMSX fell 10.83 points for the week.
The CCSX declined 0.71 per cent for the week as three conglomerate stocks advanced, two declined and five were unchanged.
While Pan Jamaican Investments posted a 1.96 per cent gain, this was outweighed by a 1.91 per cent decline in Ansa McAl and a 0.43 per cent decline in GraceKennedy.
As a result, the CCSX fell 8.02 points for the week. The other sector indices were generally flat for the week.
Table 2 provides a summary of the sector indices, followed by details on the performance of the stocks in each sector.
Tables three and four provide some widely used financial metrics on the biggest movers for the week. Prices are in US dollars.
Prepared by the Department of Management Studies, UWI Cave Hill.