Drop in region's major indices
The weakness in Caribbean stock in 2012 continued as the major indices ended the week of September 28 lower. The major indices were dragged down by losses on manufacturing and financial companies, however, there was some respite for investors on the Junior markets as that index ended the week in positive territory.
For the week, 22,767,153 shares valued at $6,298,829 crossed the floors of the six stock exchanges across Caricom, with 22 stocks advancing, 59 declining and 43 remaining unchanged. JMMB was again the volume leader with 14,556,430 shares being traded, C&W Jamaica posted the largest gain for the week (9.56%), while on the losing end, Bank of Nevis fell (23.53 per cent).
For the week, six of the CSX 30 stocks advanced, seventeen declined and seven were unchanged. The CSX 30 lost 1.98 points to close the week at 1,388.18, up 5.57 per cent year to date.
In the CSX 30 there were gains for CW Jamaica (9.56 per cent), Carreras (1.26 per cent) and Scotia Bank TT (1.01 per cent). On the negative side, Desnoe & Geddes fell (6.53 per cent), Guardian Holdings (3.13 per cent), Scotia Group Jamaica (1.73 per cent) and Lascelles (1.28 per cent).
The Junior Market ended the week in positive territory with five stocks advancing and seven declining. The CJSX gained 16.14 points to close the week at 1,533.96, down 15.57 per cent for the year. General Accident gained (2.76 per cent), while on the losing end Lasco Financial fell (6.30 per cent) and Caribbean Producers (1.69 per cent).