Weekly Financial Market Summary - Dec 3

This week in the Forex market, the Jamaican Dollar (JMD) depreciated against all the major currencies, with the biggest decline coming against the Euro ($0.62). Despite the weakening of the JMD, year to date, the JMD remains ahead of its major counterparts with the exception of the US Dollar (USD).

This week in the Forex market, the Jamaican Dollar (JMD) depreciated against all the major currencies, with the biggest decline coming against the Euro ($0.62). Despite the weakening of the JMD, year to date, the JMD remains ahead of its major counterparts with the exception of the US Dollar (USD).

In the local stock market, both the Main and Junior Markets advanced following two consecutive weeks of decline. The Main and Junior markets advanced by 2.64% and 0.59% respectively. Kingston Properties reversed its luck this week by being the top performing main market stock this week following being named one of the top three worst performing market stock the previous week. Despite its performance this week, year to date, Kingston Properties performance has fallen by 22.73%. Stanley Motta was also a top performing stock this week, with gains of 13.19% this week, however, despite this performance, the stock has failed to maintain or surpass its Initial Public Offering (IPO) price since listing on the Jamaica Stock Exchange (JSE).

After posting a slight increase in quarter earnings, Derrimon Trading Co. has seen an improvement in its stock price, gaining 16.67% for the week to be named the top performing Junior Market stock. Medical Disposables & Supplies (MDS) has come out as one of the top three worst performing stock for a second consecutive week, despite this, MDS year to date performance remains ahead of the previous year.

In the international financial markets, the major stock indices all fell for a second consecutive week. Consequently, all the year to date gains have been eroded as the indices plummeted below its opening. Yields on US Treasury saw mixed results this week as the yield on the two year Treasury rose by 1 basis point while the yields on the longer termed 5 year and 10 year Treasury’s all fell.

Check out full report here.