CMMB Market WRAP

EASTERN CARIBBEAN
Equity trading was limited last week on the ECSE as just over 8000 shares traded. Shares of ECFH and Grenreal Property Corporation traded firm while TDC traded up 4 cents.

TRINIDAD
In Trinidad, the advance decline ratio was 6 to 14. Winners included Ready Mix Limited which was up 49 cents and Sagicor- up 21 cents. Scotia Bank, Neal & Massy and Guardian Holdings were on the decline.
Trinidad & Tobago’s credit rating has improved on the international market. Standard & Poor’s indicated that the country’s overall long term credit rating moved from and A- to an A and have attributed the improved rating to T&T’s booming energy economy that has grown at an average of 9.3 per cent annually since 2003.

JAMAICA
All three Jamaican indices ended the week in positive territory with an advance decline ratio of 16 to 13. Advancers included Scotia Group, NCB Jamaica and Caribbean Cement while Mayberry Investments & Grace Kennedy closed on the downside.
Jamaican consumers paid more than 25 per cent more for their goods last month when compared to the same month last year as rising energy cost continued to drive up the price of essential items in the inflation basket. Prices rose by 2.8 per cent during the month of July 2008 according to the latest consumer price index.

BARBADOS

On the Barbados stock exchange, Ansa McAl, Banks Holdings and Neal & Massy led trading volumes over the review period. Market indices posted mixed results as 3 stocks declined and only one advanced. Cable & Wireless recorded a price increase of 10 cents, while Barbados Farms, Grace Kennedy and One Caribbean Media lost.

INTERNATIONAL
On the international front, the dollar posted its first drop against the euro in six weeks, falling 0.7% and the pound dropped for a fifth week against the dollar, its longest losing streak since February 2006