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06th March 2010
CMMB Market Wrap

EASTERN CARIBBEAN

 

It was a slow week on the ECSE as approximately 4850 shares changed ownership. This resulted from trading in only 4 securities, 3 of which traded firm. The sole decliner, Republic Bank Grenada traded down $2.50 to close at $55.00, a drop of 4.3%. The ECSE index closed the month of February at 148.46, an increase over last month closing of 0.52%.

TRINIDAD
Over in Trinidad, despite a very short trading week all the three major indices on the TTSE posted gains and market volume exceeded 1.3million units valued at over TT$13 million. This resulted from trading in 17 stocks of which 6 advanced 3 declined, while 8 traded firm. Republic Bank was the lead advancer trading up by $3.00 while JMMB led the decliners.
 
 

JAMAICA
On the JSE overall market activity resulted from trading 35 equity securities causing all the major indices to decline slightly. Advancers outnumbered decliners 18 to 9, while another 8 stocks remained unchanged as overall market volume exceeded 22 million units valued at over J$344 million. National Commercial Bank Jamaica followed by Scotia DBG Investments were the most popular stocks traded, accounting for almost 70% of the week’s volume.

Ciboney Group, who operates several businesses in the Jamaican hospitality industry, recorded the weeks’ largest decline of 30% to close at 7 cents per share.

BARBADOS
Moderate trading activity was recorded on the BSE as almost 50000 shares crossed the floor. The Insurance Corporation of Barbados emerged volume leader and also recorded the only price movement advancing by 1 cent to close at $3.02.

INTERNATIONAL
On the international front, US stocks fell due to the unexpected decline in consumer confidence as prospects of the possibility for a strong economic recovery continue to deteriorate.

In currencies news, the greenback retreated against all of its most-traded counterparts, except the pound, as purchases in the housing sector recorded its second largest decline of 7.2%.

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