Caribbean Weekly Stock Report - March 5-9, 2012

Published: Wednesday | March 14, 2012 Comments 0

Caribbean stocks were mixed for the week with a rebound in blue chip stocks, continued weakness among financial stocks and the continuation of a major correction in junior market stocks.

For the week, 26,848,806 shares valued at US$10,209,429 crossed the floors of the six stock exchanges across Caricom, with 27 stocks advancing, 47 declining and 50 remaining unchanged.

Desnoes & Geddes was the volume leader with 7,057,628 shares being traded. Access Financial Services posted the largest gain for the week (10.82%), while on the losing end, Kingston Wharves fell 12.75%.

Table 1 provides a summary of the broad market indices for the week as well as some international reference points, while table 2 provides a summary of the sector indices across the Caribbean.

Table 1: Broad Market Indices March 5-9

Index

Change

Year To
Date

Volatility

Return per
Unit of Risk

Caribbean AllShare Index CASX

1,783.79

-0.11%

-0.6%

0.05%

-12.38

Caribbean Select Index CSX 30

1,292.17

0.02%

-1.74%

0.26%

-6.74

Caribbean Junior Share Index CJSX

1,526.19

-3.80%

-16.00%

0.71%

-22.45

Crude Oil

US$106.12

Table 2: Sector Indices March 5-9

Index

Change

Year to
Date

Volatility

Return per
Unit of Risk

Caribbean Banking Index (CBSX)

1,264.6

0.49%

0.80%

0.77%

1.03

Caribbean Conglomerate Index (CCSX)

1,175.5

0.06%

-1.60%

0.40%

-4.05

Caribbean Communications and Utilities Index (CCUX)

1,079.2

-0.68%

-2.55%

0.27%

-9.40

Caribbean Insurance and Investments Index (CIIX)

1,112.8

1.17%

-5.02%

0.58%

-8.61

Caribbean Manufacturing Index (CMSX)

1,317.1

0.33%

1.95%

0.47%

4.19

Caribbean Retail and Distribution Index (CRDX)

1,189.6

0.13%

-0.36%

0.43%

-0.83

Caribbean Tourism and Real Estate Index (CTRX)

1,587.5

-0.08%

-0.78%

0.03%

-25.38

For the week, 14 of the CSX 30 stocks advanced, nine declined and seven were unchanged. The CSX 30 gained 0.21 points to close the week at 1,292.17, down 1.74% year to date.

There were gains for Mayberry Investments (7.00%), Scotia Group Jamaica (3.72%), Sagicor (3.58%), NCB Jamaica (3.53%), Caribbean Cement (3.26%), Guardian Holdings (2.91%), West

Indies Tobacco (2.28%), JMMB (2.03%), GraceKennedy (1.60%), Ansa McAl (1.35%), Neal and Massy (1.08%) and Scotiabank TT (1.06%).

On the losing end Lascelles fell (10.79%), Cable and Wireless Jamaica (10.37%), Gleaner (3.96%) and Banks DIH (2.46%).

On the junior market, one stock advanced, nine declined and two were unchanged. The CJSX lost 60.22 points points to close the week at 1,526.19, down 16.00% year to date. While Access Financial recorded a gain of 10.82%, the majority of Junior Market stocks were in the red.

There were losses for Honey Bun (10.07%), Lasco Financial (7.75%), AMG Packaging (6.85%), Lasco Distributors (4.54%), General Accident and Insurance (3.96%), Lasco Manufacturing (3.82%), Jamaica Teas (3.08%) and Caribbean Producers (2.96%).

There were gains for Access Financial (10.55%) and HoneyBun (2.32%). However, the group was dragged down by losses for Caribbean Producers (7.59%), Lasco Manufacturing (5.69%), Lasco Distributors (5.51%), AMG Packaging (3.87%), Lasco Financial (3.53%) and General Accident (1.18%).

Stocks On The Move

Tables three and four provide some widely used financial metrics on the biggest movers for the week. Readers should note that prices are in US dollars.

Table 3: Advancing Stocks: March 5 - 9

EXCH

Index

Close

30 Day Moving Average

Volume
For Week

Return
For
Week

Year to
Date

Volatility

Return per
Unit
of Risk

Access Financial

JSE

CJSX

$0.0572

$0.0563

162,719

10.82%

7.63%

2.85%

2.68

Mayberry Investments

JSE

CIIX

$0.0344

$0.0338

1,251,814

7.00%

-8.70%

2.83%

-3.08

Trinidad Cement

TTSE

CMSX

$0.2858

$0.2783

67,500

5.74%

2.67%

1.24%

2.15

Freeport Concrete

BISX

CMSX

$5.0000

$4.9150

51,000

5.47%

0.00%

1.03%

0.00

Pan Jamaican Investment

JSE

CCSX

$0.6868

$0.6715

60,244

5.11%

-0.88%

2.03%

-0.43

Salada Foods

JSE

CMSX

$0.1146

$0.1137

9,287

5.08%

11.86%

2.05%

5.78

National Flour Mills

TTSE

CMSX

$0.1087

$0.1065

25,917

4.47%

-0.12%

1.81%

-0.07

Scotia Investments

JSE

CIIX

$0.3208

$0.3137

425,477

4.35%

-3.84%

2.33%

-1.65

Table 4: Declining Stocks: March 5-9

EXCH

Index

Close

30 Day Moving Average

Volume
For Week

Return
For
Week

Year to
Date

Volatility

Return per
Unit
of Risk

Kingston Wharves

JSE

CMSX

$0.0573

$0.0592

68,911

-12.7%

-16.2%

2.70%

-5.99

Lascelles

JSE

CCSX

$2.8643

$2.9236

99,866

-10.7%

-15.2%

3.06%

-4.96

Dolphin Cove

JSE

CJSX

$0.0747

$0.0807

25,645

-10.6%

-14.8%

1.95%

-7.64

CW Jamaica

JSE

CCUX

$0.0021

$0.0021

3,162,213

-10.3%

-10.5%

4.00%

-2.65

Honey Bun

JSE

CJSX

$0.0488

$0.0528

51,126

-10.0%

-23.1%

2.31%

-10.01

Jamaica Broilers

JSE

CMSX

$0.0559

$0.0573

933,608

-7.78%

-18.2%

3.16%

-5.77

Lasco Financial

JSE

CJSX

$0.0435

$0.0459

30,004

-7.75%

-39.5%

3.10%

-12.77

AMG Packaging

JSE

CJSX

$0.0458

$0.0487

31,750

-6.85%

-11.2%

2.84%

-3.95

Prepared by the Department of Management Studies, UWI Cave Hill, Barbados.

Justin.Robinson@uwi.cavehill.edu

Share |

The comments on this page do not necessarily reflect the views of The Gleaner.
The Gleaner reserves the right not to publish comments that may be deemed libelous, derogatory or indecent. Please keep comments short and precise. A maximum of 8 sentences should be the target. Longer responses/comments should be sent to "Letters of the Editor" using the feedback form provided.
blog comments powered by Disqus