Weekly Financial Market Summary - April 12

This week in the Forex market, the JMD continues to weaken against the major traded currencies. The benchmark USD strengthen by $2.80 this week against the JMD. Year to date, the JMD has lost as much as 8.30% of its value to the major currencies.

This week in the Forex market, the JMD continues to weaken against the major traded currencies. The benchmark USD strengthen by $2.80 this week against the JMD. Year to date, the JMD has lost as much as 8.30% of its value to the major currencies.

With the impending Wigton IPO set to open next week, investors are cashing out on their stocks to fund their purchase of Wigton shares. As a result, most stocks have been traded down in order to be liquidated. On the Jamaica Stock Exchange, both the Main and Junior market declined by 1.37% and 3.13%, respectively.

The Main market saw only 9 stocks advancing this week. Stanley Motta, Mayberry Investments and Caribbean Cement Co. were the top performing main market stocks this week. Pulse Investments, Barita Investments and 1834 Investments were the worst performers this week. Like the Main market, the Junior market saw very few stocks advancing this week. Derrimon Trading rebounded this week after being named of the worst performing Junior market stocks the previous week. iCreate was named one of the worst performing stock this week. The stock is currently trading below its IPO price at J$0.84, a 16.83% decline.

In International financial markets this week, the major indices continue to trend upwards. The Yields on treasury showed positive result this week with the exception of the ten year Treasury. Year to date, yields continue to perform poorly.

Check out full report here.