Caribbean360: Caribbean stock markets register slow performance

Caribbean stock markets register slow performance
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Chris Hoyos on 16/02/2012 12:11:00
 
BRIDGETOWN, Barbados, Thursday February 16, 2012 – The recent performance of
the Caribbean stock markets has been dragged down by weak performances in
financials and conglomerates.
This is according to an analysis carried out by Dr Justin Robinson of the
Department of Management Studies at the University of the West Indies, Cave Hill
in Barbados.
In an analysis issued by Dr Robinson this week, he noted that Caribbean stocks
ended the week of February 10 lower, as 14,525,713 shares valued at US$6,885,420
crossed the floors of the six stock exchanges across CARICOM, with 23 stocks
advancing, 57 declining and 46 remaining unchanged.
Cable & Wireless Jamaica was identified as the volume leader having had
4,395,638 shares traded, while Carib Cement posted the largest gain of 24.08%
for the week. On the losing end, Lasco Financial fell 17.92%.
For the week, 10 of the 30 stocks on the CSX advanced, 14 declined and six were
unchanged. The CSX 30 lost 1.42 points to close the week at 1,300.63, down 1.09%
year to date.
On the junior market, two stocks advanced and 10 declined. The CJSX lost 30.97
points to close the week at 1,699.98, down 6.44% for the year. Table 1 provides
a summary of the broad market indices for the week as well as some international
comparisons.
Across the various sectors, the CMSX posted the strongest performance for the
week advancing 1.40% as eight manufacturing stocks advanced, fifteen declined
and eight were unchanged.
The group was led by gains for Carib Cement (24.08%), Seprod (14.13%), Kingston
Wharves (4.09%), Jamaica Broilers (3.27%), Berger Jamaica (2.72%), Angostura
Holdings (2.55%) and West India Tobacco (1.65%).
There was a 7.18% decline in the shares of National Flour Mills, a 4.10% decline
in Jamaica Producers and a 3.37% decline in Flavourite Foods. The CRDX advanced
0.52% as one retail-distribution stock advanced, four declined and six were
unchanged.
The CIIX declined 0.85% as one insurance-investment stock advanced, seven
declined and seven were unchanged. While Sagicor Life Jamaica gained 2.52%, the
group was dragged down by losses for JMMB (4.83%), Mayberry (2.74%) and Pan
Caribbean Financial Services (1.68%).
The other sector indices were essentially flat for the week. Click here to
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