Weekly Financial Market Summary - March 18

The Jamaican Dollar (JMD) enjoyed another week of positive performance in the forex market. The JMD appreciated against the major traded currencies; the dollars advanced by as much $1.42 this week. Consequently, the JMD continues to trade below the exchange rate at the start of 2019.

The Jamaican Dollar (JMD) enjoyed another week of positive performance in the forex market. The JMD appreciated against the major traded currencies; the dollars advanced by as much $1.42 this week. Consequently, the JMD continues to trade below the exchange rate at the start of 2019.

The Jamaica Stock Exchange (JSE) saw a marginal decline in both the Main and Junior markets this week, as the indices declined by 0.18% and 0.01% respectively. Of the 104 traded stocks, 39 advanced, 28 declined and 37 traded firm. Proven Investment was the top main market stock for another week, appreciating by 10.37% or J$3.28. The Jamaica Stock Exchange and Supreme Ventures also showed strong performance this week. 138 Students Living Ja. and the Ciboney Group were the top worst performing main market stocks this week as the stocks fell by 25%. Indies Pharma rounded off the top three performers as the stock appreciated by 10.07%. After recently being suspended for JSE regulatory issues, Sweet River Abattoir’s (SRA) stock price fell by 14.29% or 0.50%. The decline comes as the stock continues to experience consistent losses in its financial performance. Derrimon Trading and Caribbean Flavours & Fragrance both saw decline this week as the Derrimon Trading Group’s profit for the 2018 financial year fell short of expectations.

In the international financial markets, the major indices rebounded this week. The Dow Jones showed a strong performance this week after being adversely impacted by the recent deadly crash of the Boeing 737 Max aircraft, this was followed by the grounding of this plane globally. As a result shares in Boeing had fell significantly. Yields on all tenor of US Treasury continue to decline, yields declined by as much as 4 basis points this week.

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