Caribbean stock market weekly report

For the week ending August 26, some 36,793,682 shares valued at US$5,868,259, crossed the floors of the six stock exchanges across Caricom, with 37 stocks advancing, 44 declining and 43 remaining unchanged.

Caribbean Packaging was the volume leader with 6,776,168 shares being traded. Jamaica Producers posted the largest gain for the week, 27.3 per cent, while on the losing end, Blue Power fell 10.76 per cent.

For the week, 14 of the CSX 30 stocks advanced, 11 declined and five were unchanged. The CSX 30 gained 2.86 points to close the week at 1,272.0, up 11.85 per cent year to date.

On the junior market, seven stocks advanced and six declined as the CJSX gained 42.85 points to close the week at 1,436.70, up 23.32 per cent year to date.

The group was led by gains for Dolphin Cove (13.61 per cent), Honey Bun (7.92 per cent), Lasco Distributors (7.08 per cent), Access Financial Services (7.04 per cent) and Lasco Financial (2.83 per cent).

On the losing end, Blue Power lost 10.76 per cent and Lasco Manufacturing 2.69 per cent. Table 1 provides a summary of the broad market indices for the week as well as some international reference points.

SECTOR ANALYSIS

The CTRX enjoyed the best week among the various sectors and advanced 1.08 per cent as four Tourism and Real Estate stocks advanced, two declined and three were unchanged. The group was led by Montego Freeport which gained 11.22 per cent.

The CCSX advanced 0.83 per cent as four conglomerate stocks advanced, two declined and four were unchanged. The group was led by Jamaica Producers with a 27.30 per cent gain and Pan Jamaican Investments with a 5.68 per cent gain.

The CBSX advanced 0.69 per cent as seven banking stocks advanced, six declined and nine were unchanged.

There were gains for NCB Jamaica (4.61 per cent), Scotia Group Jamaica (2.29 per cent) and Republic Bank Guyana (1.71 per cent). On the losing end, Capital and Credit Financial lost 8.08 per cent.

The CIIX lost 0.74 per cent as six insurance and investments stocks advanced, six declined and five were unchanged.

There were gains for Barita Investments (12.48 per cent). JMMB (12.48 per cent), Scotia Investments (3.91 per cent) and Pan Caribbean Financial Services (3.05 per cent). However, the group was dragged down by losses for Sagicor (8.33 per cent), Guardian Holdings (4.66 per cent) and Mayberry (3.71 per cent). The other sector indices were essentially flat for the week.

Prepared by the Department of Management Studies, UWI Cave Hill. justin.robinson@cavehill.uwi.edu