Weekly Financial Market Summary - Nov 22

Following several flash sales during the previous week, the Bank of Jamaica (BOJ) injected US$90M into the local Forex Market. Consequently, the JMD regained some ‘footing’ against the major traded currencies. The JMD advanced by at least $1.28 against major traded currencies.

Following several flash sales during the previous week, the Bank of Jamaica (BOJ) injected US$90M into the local Forex Market. Consequently, the JMD regained some ‘footing’ against the major traded currencies. The JMD advanced by at least $1.28 against major traded currencies.

With the opening of three (3) Initial Public Offerings (IPOs) this week, the Jamaica Stock Exchange (JSE) saw investors liquidate some or all of their current holdings to partake of the flurry of IPOs. Both the Main and Junior markets marginally declined this week. Overall, trading resulted in 31 stocks advancing, 46 declining and 34 trading firm.

138 Student Living (138SL) was the top performing Main Market stock this week. 138SL saw a strong fourth quarter with the opening of the new school which served to salvage their recently concluded financial year. Pulse Investments and Salada Foods Jamaica Limited (SALF) rounded off the top 3 performers. The Jamaica Stock Exchange (JSE), Stanley Motta (SML) and Eppley (EPLY) were the worst performing Main Market stocks this week. In the Junior Market, SSL Venture Capital (SSLVC), the Main Events Entertainment Group (MEEG) and AMG Packaging & Paper Co. (AMG) were the top performers. Conversely, Dolphin Cove (DCOVE), Elite Diagnostic (ELITE) and iCreate were the worst performing stocks this week as iCreate continue to trade below its reserved share applicant IPO price.

In the international financial markets, the major indices all declined with the Dow Jones and S&P 500 falling by 0.31% and 0.26%, respectively.

Check out full report here.