Weekly Financial Market Summary - Nov 5
Posted in: IDEAL Insights, News
In the Forex market, the Jamaican Dollar (JMD) continues to strengthen against the major traded currencies. For the week ending November 2, the JMD appreciated by at least $0.49 against the major traded currencies.
The JSE saw mixed results as the Main market advanced while the Junior market marginally declined by 46.01 points or 1.41%. The Jamaica Stock Exchange (JSE) came out as the week’s top performing main market stock.
Year to date, the JMD has reversed all losses against the British Pound (GBP) and the Euro. Additionally, the JMD has lost only 2.33% of its value to the USD since the start of the year.
The JSE saw mixed results as the Main market advanced while the Junior market marginally declined by 46.01 points or 1.41%. The Jamaica Stock Exchange (JSE) came out as the week’s top performing main market stock. The JSE saw gains of 19% to close trading at J$10.02. After posting comparatively lower profits than the previous year, Caribbean Cement Co. (CCC) came out as the week’s third worst performing stocks. After announcing a distribution deal to distribute a range of confectionary items Medical Disposables & Supplies (MDS) has seen a spike in their stock price, making them one of the week’s top performing Junior Market companies.
The international markets rebounded after a significant decline in the international equity and fixed income markets. The International equity indexes all rallied reversing the previous week’s losses, year to date the Nikkei continues to trade below its 2018 opening. Yields on all tenors of US Treasury have also reversed losses, with yields advancing by at least 9 basis points.
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