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24th July 2010
CMMB Market Watch

EASTERN CARIBBEAN

On the ECSE shares of Bank of Nevis, Dominica Electricity Services, ECFH, Republic Bank (Grenada) Limited, St. Lucia Electricity Services and TDC all traded firm for the week. ECFH was the volume leader with 1,200 shares traded holding firm at $14.00.

A busy week ahead on the Regional Government Securities Market, got started with the Government of Grenada’s 365 day 6.00% T-Bill auction. The Government of St. Vincent and the Grenadines came to market on Wednesday 21 July with EC$20 million in 91 day T-Bills, while the next auction of the Government of Saint Lucia 180 day 6.00% T-Bill auction takes place on Thursday 22 July 2010.

In related news, the Government of St. Lucia comes to market on July 28th and 29th 2010 with up to EC$50 million in 8 year bonds, paying an annual coupon rate of 7.50%

TRINIDAD
Over in Trinidad, all three market indices declined following overall increases in both volume and value of shares traded for the week. Of the 24 shares traded, 7 advanced, 4 declined while 13 traded firm. GraceKennedy led the way with over 20% of the shares traded, despite closing down 25 cents to end the week at $3.75 per share.
 
 

JAMAICA
On the Jamaica Stock Exchange market indices advanced. The advance decline ratio was 14 to 12 with 8 shares holding firm. Over 15.6 million units of stock traded valued at nearly J$106 million. Supreme Ventures emerged volume leader with 33.66%. Montego Freeport Limited was the week’s lead advancer gaining 12.87% to close the week at $1.93.

BARBADOS
Market indices in Barbados remained unchanged from last week as the Regular Market traded a total volume of 12,050 shares. The three companies traded were Sagicor Financial Corporation, Cable & Wireless and JMMB with Sagicor accounting for 70% of the week’s activity.

INTERNATIONAL
Internationally, stocks sank, the yen rose to a 2010 high versus the dollar and two-year Treasury yields hit a record low as lower-than-estimated revenue at companies from Bank of America Corp. to General Electric Co. and a slump in consumer confidence fanned concern the economic rebound is slowing.

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