Weekly Financial Market Summary - Dec 24

This week in the Forex market, the Jamaican dollar saw mixed results against its major trading counterparts. The JMD gained strength against its North America counterparts as it appreciated by $0.23 and $0.55 against the USD and CAD respectively. However, the JMD weakened against its European counterparts as it took a big hit against the British Pound and Euro, sliding as much as $6.34 this week.

This week in the Forex market, the Jamaican dollar saw mixed results against its major trading counterparts. The JMD gained strength against its North America counterparts as it appreciated by $0.23 and $0.55 against the USD and CAD respectively. However, the JMD weakened against its European counterparts as it took a big hit against the British Pound and Euro, sliding as much as $6.34 this week.

The Jamaican Stock Exchange saw mixed results this week. The Main market declined by 1.17% while the Junior market advanced by 2.95%. Barita Investment came out as the top performing Main Market stock as the stock price continues it upsurge, year to date the stock has appreciated by 447.66%. After being named one of the worst performing stock in the previous week, Stanley Motta came out as one of the top performing stock this week, appreciating by 7.07% or J$0.33, to close at J$5.00. Sterling Investment was a top worst performer for another week as the stock declined by a further J$0.60 or 15% to close J$3.40. Mayberry Investments and the Jamaica Producers Group grounded off the top worst performing Main market stocks for the week.

On the Junior market side, Everything Fresh and GWest Corporation rallied to be named top Junior market stocks this week after falling in the top worst performing category last week. Dolphin Cove was the worst performing junior market stock this week as it lost J$1.18 or 6.94% of its value. Consolidated Bakeries and Paramount Trading rounded off the top worst performing stock this week.

In the International Financial Markets, both the Equity and US Benchmark yields saw decline. All the major traded indices took a major hit this week, as they continued to decline. The S&P 500 and Dow Jones are now performing at little over -9%, while the Nikkei failed to rally after consistent weeks of decline. Yields on all tenor of US Treasury took a dive this week as yields fell as high as 10 basis points, nonetheless, US Treasury continue to perform positively ahead of the year end.

Check out full report here.