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13th Feburary 2010
CMMB Market Wrap

EASTERN CARIBBEAN

Approximately 19000 shares changed ownership on the ECSE. This resulted from trading in 5 equity securities, of which 3 advanced while 2 declined. S L Horsford was the lead advancer trading-up 25 cents to close at $2.00, an increase of 14.3%. And Dominica Electricity Services led the decliners, trading down 5 cents to close the week at $1.95, representing a decline of 1.7%.
On the Regional Government Securities Market, the Government of St. Vincent auctioned 91-day Treasury bill issue in the sum of EC$20 million on February 10, 2010. The maximum discount rate for the Treasury bill was 5.82% and the minimum bid amount to participate in the auction was $5,000.
In other news, CMMB extended an invitation to the general investing public to attend its Market Outlook Seminar at the NIC conference room from 9-11 am on Tuesday 9th February 2010. The seminar focused on recent economic trends and significant events with implications for our economies as well as projected market outlook for fixed income and equities in each of these different markets. Register free by emailing seminars@mycmmb.com

TRINIDAD
On the TTSE, all the major 3 indices posted gains as advancers’ outnumbered decliners, 10 to 2. Market volume resulted from trading in 19 stocks, totaling 1.8 million units valued at over TT$28.9 million. Trinidad Cement emerged volume leader, also advancing by 13 cents to close at $3.85. National Flour Mills was the lead advancer.
 
 

JAMAICA
Over in Jamaica all the major indices closed in negative territory except the JSE Select which advanced by 8 points. Of the 35 stocks which traded, 13 advanced , 13 declined, while 9 stocks remained unchanged as overall market volume exceeded 10 million units valued at over J$100 million. Jamaica Broilers led the advancers while Capital & Credit Financial Group recorded the largest decline.

BARBADOS
Activity picked-up on the Barbados Stock Exchange, as over 100000 shares crossed the floor. This resulted from trading in 8 securities. First Caribbean Bank emerged volume leader and One Caribbean Media recorded the largest price movement declining by 88 cents to close at $3.10.

INTERNATIONAL
On the international front, US stocks fell for a fourth straight week, as concern grew that widening budget deficits in Europe will extend the global economic downturn and fears increase that a new crisis may be developing.
And in currencies news, the dollar rose to an eight-month high against the euro due to the rising budget deficits in many European Nations. The dollar’s climb has also reduced the appeal of commodities, such as corn and crude oil, as alternative investments.

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