Weekly Financial Market Summary - Jan 17
Posted in: IDEAL Insights
After closing the previous decade at $132.57, the JMD depreciated by $1.9 this week against the benchmark USD. Year to date , the JMD fell by 3.71% against the USD and by 6.12% against the CAD. The GBP was the biggest mover this week, appreciating by $5.81 against the JMD.

MPC Clean Energy (MPCCEL) was the top performing Main market performer this week, advancing by J$21 or 10% to close at J$231.
After closing the previous decade at $132.57, the JMD depreciated by $1.9 this week against the benchmark USD. Year to date , the JMD fell by 3.71% against the USD and by 6.12% against the CAD. The GBP was the biggest mover this week, appreciating by $5.81 against the JMD.
The Jamaica Stock Exchange (JSE) saw both the Main and Junior markets declining, falling by 1.16% and 2.38%, respectively. Overall market activity resulted in 114 stocks trading, 34 advanced, 57 declined and 23 traded firm. MPC Clean Energy (MPCCEL) was the top performing Main market performer this week, advancing by J$21 or 10% to close at J$231. It should be noted that only 200 units traded this week. Victoria Mutual Investments (VMIL) was also a top performer this week, advancing by 18.75% or J$0.89 to close at J$10.64. The appreciation comes as investors anticipate greater profitability from the stock. Eppley Caribbean Property Fund (CPFV) was the worst performing stock this was the stock fell by J$3.59 or 8.70%, to close at J$37.68. CPFV continues to trade below its IPO price of J$46.18 after only listing on the market for less than six (6) months. On the Junior market, Main Event Entertainment Group (MEEG) was the top performer, advancing by J$1.17 or 27.50% this week. iCreate surged to a five(5) month high of J$0.86, however, the stock continues to trade below its IPO price of J$1.01. The KLE Group was the other top performing Junior market stock this week, the stock appreciated by J$0.28 or 15.91% this week. This follows the announcement by KLE of full acquisition of the Usain Bolt’s Tracks & Record franchise in Jamaica. Knutsford Express was the worst performing Junior market stock this week as the group published it 2nd quarter results. Th financials illustrated a 45.64% decline in profit when compared to the same period in the previous year.
The International financial markets saw improvement as the major indices advanced following the announcement of progress in the US-China trade negotiations.
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