Caribbean stock market weekly report

Caribbean stocks fell as 35,226,206 shares, valued at US$4,834,640, crossed the floors of the six stock exchanges across CARICOM, with 19 stocks advancing, 54 declining and 51 unchanged.

Jamaican Teas Limited was the volume leader with 10,272,602 shares traded, Lasco Distributors posted the largest gain for the week of 16.9 per cent. On the losing end, CIBC FirstCaribbean International Bank Jamaica fell 20.5 per cent.

For the week, eight of the CSX 30 stocks advanced, 16 declined and six were unchanged. The CSX 30 gained 36.38 points to close the week at 1,270.10, up 11.71 per cent year to date.

On the junior market, five stocks advanced, six declined and two were unchanged as the CJSX gained 36.38 points to close the week at 1,499.80, up 27.79 per cent year to date. There were gains for Lasco Distributors of 16.93 per cent, Lasco Financial 4.02 per cent, Honey Bun 3.08 per cent and Blue Power 2.72 per cent.

However, there were also losses for Access Financial Services of 4.01 per cent, AMG Packaging 2.79 per cent, Cargo Handlers 1.82 per cent and Dolphin Cove 1.28 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 CMSX declined 5.67 per cent as five manufacturing stocks advanced, 18 declined and six were unchanged. There were gains for Caribbean Cement 5.19 per cent, National Flour Mills 4.85 per cent, Point Lisas Development 2.39 per cent, Trinidad Cement 1.30 per cent and Jamaica Broiler 1.0 per cent. However, the group was pulled down by a 3.34 per cent loss on Berger Paints Jamaica and small losses on 17 other stocks.

The CIIX fell 1.66 per cent as four insurance and investments stocks advanced, eight declined and five were unchanged. There were gains for Sagicor Life Jamaica of 7.43 per cent, Sagicor Financial 2.75 per cent, Cargo Handlers 1.18 per cent, and Mayberry 1.0 per cent.

However, there were losses for Pulse Investments of 13.9 per cent, JMMB 3.34 per cent, Barita Investments 3.34 per cent and Scotia Investments 2.01 per cent. The other sector indices were relatively 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. justin.robinson@cavehill.uwi.edu