Weekly Financial Market Summary - Oct 16
Posted in: IDEAL Insights, Market Trends, News
The Jamaican Dollar (JMD) continues to regain ground against major traded currencies with the exception of the British Pound (GBP). The JMD appreciated against by at least $1.07 against the US, Canadian Dollar and Euro.
Following continued trade war tensions, the major indices declined resulting in declines in the Dow Jones, S&P 500 and the Nikkei.
The Jamaica Stock Exchange continues to advance with the Main market advancing by 1,361.74 points, while the Junior Market marginally declined by 2.34 points after advancing the previous week. Radio Jamaica came out as a top 3 worst performer on the Main Market for a second consecutive week, the stock has fallen to a new two (2) year low of J$0.85. After being named a top 3 performer last week, Supreme Venture comes out as one of the top 3 worst performer this week.
Following continued trade war tensions, the major indices declined resulting in declines in the Dow Jones, S&P 500 and the Nikkei. The decline in the Nikkei resulted in a result of year to gains for the index. The index closed at -0.31% for the week. Yields on the different tenors of Treasury Bonds all fell, following the hike in the Federal Fund rate.
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