Weekly Financial Market Summary - Nov 15

Posted in: Market Trends

Following the Bank of Jamaica’s (BOJ) intervention, the Forex market saw a bit of relief this week. The Central Bank injected US$90M into the market to alleviate the USD demand. The JMD closed at US$1: JA$141.21 this week, a $0.40 improvement week over week; the JMD also strengthened against the CA$ and British Pound.

The JMD closed at US$1: JA$141.21 this week, a $0.40 improvement week over week; the JMD also strengthened against the CA$ and British Pound.

Following the Bank of Jamaica’s (BOJ) intervention, the Forex market saw a bit of relief this week. The Central Bank injected US$90M into the market to alleviate the USD demand. The JMD closed at US$1: JA$141.21 this week, a $0.40 improvement week over week; the JMD also strengthened against the CA$ and British Pound. However, the JA$ weakened against the Euro. Year-to-date, the JMD has depreciated by 11.43% against the Euro.

The Jamaica Stock Exchange saw the Main Market advancing, while the Junior Market declined for another consecutive week. Overall market activity resulted in 35 stocks advancing, 36 declining and 40 trading steadily.

This week, Mayberry Investments Limited and Mayberry Jamaican Equities were the top performing Main Market stocks followed by Victoria Mutual Investment Investments which continued its stellar year-to-date performance. Pulse Investments Limited was the worst performing Main Market stock after being named one of the top performers in the previous week. On the Junior Market, ISP Finance Services, Jetcon Corporation and Dolphin Cove were the top performers. Caribbean Flavour & Fragrances and Lasco Financial Services Company Limited were two of the worst performing Junior Market stocks, as both stocks saw a decline in profitability.

In international financial markets, the US indices saw tepid gains as uncertainties surrounding the US-China trade continue to haunt the markets. The Nikkei marginally declined this week by 81.38 points or 0.35%.

Check out full report here.

 

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