Caribbean stock market weekly report

CARIBBEAN STOCK REPORT October 24 to October 28, 2011

Despite solid gains on the junior market, Caribbean stocks ended the week lower, as 29,853,594 shares valued at US$4,033,233 crossed the floors of the six stock exchanges across CARICOM. For the week, 28 stocks advanced, 51 declined and 46 remained unchanged.

Sagicor Life Jamaica was the volume leader with 5,144,649 shares being traded, Pulse Investments again posted the largest gain for the week (27.9 per cent), while on the losing end, Scotia Group Jamaica fell 6.1 per cent.

For the week, nine of the CSX 30 stocks advanced, 13 declined and eight were unchanged. The CSX 30 lost 1.49 points to close the week at 1,306.67, up 14.55 per cent year to date. On the Junior Market, five stocks advanced and nine declined. as the CJSX gained 105.69 points to close the week at 1,769.91, up 44.53 per cent year to date.

There were gains for Lasco Financial (25.9 per cent), Lasco Manufacturing (16.6 per cent), Lasco Distributors (10.7 per cent) and Caribbean Producers (4.5 per cent). Jamiac Teas lost 5.1 per cent, AMG packaging lost four per cent, Access Financial Services lost 3.2 per cent and Cargo Handlers lost three 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 CCSX advanced 1.12 per cent as three conglomerate stocks advanced and four remained unchanged. The group was led by a four per cent gain on Neal and Massey, a 3.1 per cent gain on Pan Jamaican Investments and a one per cent gain in Lascelles. The other sector indices were essentially flat for the week. Table 2 provides a summary of the sector indices, followed by Tables 3 and 4, which provide some widely used financial metrics on the biggest movers for the week. Readers should note that prices are in US dollars.

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