Caribbean stocks enjoyed one of their better weeks for the year, but there was continued weakness on the Junior market as those stocks appear to be in the throes of a major correction after the outstanding gains of 2011, as well as continued weakness in Tourism & Real Estate stocks. For the week 53,071,332 valued at US$2,972,824 crossed the floors of the six stock exchanges across Caricom, with 47 stocks advancing, 32 declining and 45 remaining unchanged. Cable & Wireless Jamaica was the volume leader with 46, 087,467 shares being traded, Cable & Wireless Jamaica posted the largest gain for the week (14.88 per cent), while on the losing end, Gleaner fell (19.71 per cent). For the week, 17 of the CSX 30 stocks advanced, seven declined and six were unchanged.
The CSX 30 gained 14.05 points to close the week at 1,330.67, up 1.19 per cent year to date. In the CSX 30 there were gains for Cable & Wireless Jamaica (14.88 per cent), Caribbean Cement (10.31 per cent), One Caribbean Media (5.36 per cent), Carreras (4.74 per cent), NCB Jamaica (4.24 per cent), Desnoe & Geddes (3.74 per cent), Guardian Holdings (3.71 per cent), Republic Bank (1.85 per cent) and West India Tobacco (1.77 per cent). On the losing end Gleaner fell (19.71 per cent), JMMB (13.75.97 per cent), Citizens Bank (2.21 per cent), Mayberry (2.07 per cent) and Grace Kennedy (1.99 per cent). There was another slight decline on the Junior Market with seven stocks advancing and five declining. The CJSX fell 3.89 points to close the week at 1,553.36, down 14.51 per cent for the year. Caribbean Producers gained (1.43 per cent) and Lasco Distributors (1.04 per cent). However, Jamaica Teas fell (5.56 per cent), AMG Packaging (5.04 per cent), Lasco Financial (4.65 per cent) and Blue Power (1.23 per cent).