Carib stock market weekly report

For the week ending August 19, some 54,903,910 shares valued at US$7,361,872 crossed the floors of the six stock exchanges across CARICOM, with 55 stocks advancing, 27 declining and 43 remaining unchanged.

Jamaica Money Market Brokers (JMMB) was the volume leader with 24,050,242 shares being traded. Blue Power Group posted the largest gain for the week of 13.6 per cent, while on the losing end FirstCaribbean International Jamaica fell 29.4 per cent.

For the week, 17 of the CSX 30 stocks advanced, eight declined and five were unchanged. The CSX 30 lost 0.93 points to close the week at 1,268.8, up 11.59 per cent year to date.

On the junior market, nine stocks advanced and four declined as the CJSX lost 11.2 points to close the week at 1,393.8, up 20.26 per cent year to date. While there were gains for Blue Power Group of 13.57 per cent, Jamaica Teas 7.87 per cent, and Dolphin Cove 7.04 per cent, the group was dragged down by a 20.33 per cent loss in Access Financial Services and a 6.07 per cent loss in Lasco Distributors.

Table 1 provides a summary of the broad market indices for the week as well as some international reference points.

SECTOR ANALYSIS

The CIIX enjoyed the best week among the various sectors and advanced 1.89 per cent as five insurance and investments stocks advanced, six declined and six were unchanged. The group was led by Scotia Investments which advanced 9.83 per cent, Pan Caribbean Financial Services which gained 8.63 per cent and Mayberry Investments with a 8.54 per cent gain. There were losses for Pulse Investments down 26.32 per cent, JMMB 4.37 per cent and Barita Investments 4.37 per cent. The other sector indices were essentially 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.

STOCKS ON THE MOVE

Tables 3 and 4 provide some widely used financial metrics on the biggest movers for the week. Readers should note that prices are in US dollars.