Weekly Financial Market Summary - Dec 17
Posted in: Market Trends
For the week ending December 14, 2018, the forex market saw mixed results. The Jamaican Dollar (JMD) strengthen against Canadian Dollar (CAD) and the British Pound (GBP), how failed to gain ground against the US Dollar (USD) and the Euro. Year to date the JMD continues to remain ahead of the CAD, GBP and Euro when compared to its opening trading price at the start of the year.

The results this week were impacted by investors cashing out on stocks to participate in the Fontana IPO that closed within five minutes of opening on Thursday, December 13, 2018.
For the week ending December 14, 2018, the forex market saw mixed results. The Jamaican Dollar (JMD) strengthen against Canadian Dollar (CAD) and the British Pound (GBP), how failed to gain ground against the US Dollar (USD) and the Euro. Year to date the JMD continues to remain ahead of the CAD, GBP and Euro when compared to its opening trading price at the start of the year. The JMD continues to depreciate against the USD, declining by $0.79 week over week and by 3.12% year to date.
The Jamaica Stock Exchange (JSE) saw mixed results this week has the Main market advanced by only 0.18% while he Junior market continues its decline. The results this week were impacted by investors cashing out on stocks to participate in the Fontana IPO that closed within five minutes of opening on Thursday, December 13, 2018. Berger Paints Ja. was the top Main market performing this week, appreciated by J$3.51 or 18.98% week over the week. Stanley Motta came out as one of the worst performing Main market stock this week as the stock price fell to J$4.67 as it continues to trade below its IPO price of J$5.31.
For the Junior market, IronRock Insurance was the top performing stock this week as the stock gained 18.92% or J$0.70. SSL Venture Capital was also a top performing, as the company continues to show positive results from the shift in its business model. Everything Fresh was the worst performing stock this week, declining by 20.63% or J$0.33, to close at J$1.27. Consequently, the stock continues to trade way below its IPO price of J$2.50. After previously being named one of the top performing Junior market stock, Key Insurance Co. was named one of the worst performing stock this week.
The international financial market saw mixed results this week. In the international equity market, all the major indices continue to plunge, resulting in negative year to date returns for investors. Yields on US treasury rebounded as the yields on all tenor rose after a decline in the previous week. Year to date, Treasuries continue to perform positively.
Check out full report here.

by IDEAL GROUP
For almost 30 years, we have built a strong reputation in over delivering to our clients by providing flexible solutions that are tailored to their specific needs.
Add your voice to this convo..