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Financial Market Brief 18 October 2016
The local market ended this week with 52,565 shares crossing the exchange with 15 trades to accumulate a value of $353,318.45. The BISX All-Share Index lost 0.68 points or 0.035 percent to end the week at 1,947.20. Year to date the Index is up 123.25 points or 6.757 percent.
This week’s volume and value leader was ICD Utilities (ICD) moving 49,475 shares in 6 trades to accumulate a value of $327,029.75.  The remaining volume this week was attributed to: Arawak Cay Port Development Ltd. (APD) - 50 shares in 1 trade, Bahamas Waste Ltd. (BWL) - 200 shares in 1 trade, Colina Holdings Ltd. (CHL) – 1,840 shares in 5 trades, and Commonwealth Brewery (CBB) – 1,000 shares in 2 trades.
Weekly_Market_Recap_23_September_2016 Click here for full Weekly Market Recap
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Hurricane Matthew, a Category 4 tropical cyclone, made history in The Bahamas last week, traversing our entire archipelago and colliding with the capital city of Nassau and impacting settlements in Grand Bahama and Andros in a manner unprecedented since the Great Bahamas Hurricane of 1929. Bahamians have not seen a storm of this proportion in nearly 90 years and we are not likely to soon forget. However, unlike the 1929 storm, there were no lives lost in The Bahamas as Matthew passed, and for this we are thankful... Read More PledgeTN 
Financial Market Brief 30 September 2016
The local market ended this week with 81,103 shares crossing the exchange with 28 trades to accumulate a value of $280,060.95. The BISX All-Share Index gained 1.87 points or 0.10 percent to end the week at 1,947.88. Year to date the Index is up 123.93 points or 6.79 percent. This week’s volume leader was Colina Holdings Ltd. Pref. A (CHLA) moving 49,950 shares in 2 trades to accumulate a value of $49,950.00 and value leader was Fidelity Bank Limited (FBB) moving 6,146 shares in 2 trades to accumulate a value of $53,984.28. Weekly_Market_Recap_23_September_2016 Click here for full Weekly Market Recap
Financial Market Recap 23 September 2016
The local market ended this week with 10,163 shares crossing the exchange with 13 trades to accumulate a value of $97,811.79. The BISX All-Share Index gained 3.46 points or 0.18 percent to end the week at 1,946.01. Year to date the Index is up 122.06 points or 6.69 percent. This week’s volume and value leader was Commonwealth Bank Limited (CBL) moving 8,500 shares in 3 trades to accumulate a value of $87,760.00. The remaining volume this week was attributed to: Bank of the Bahamas (BOB) - 500 shares in 1 trade, Cable Bahamas (CAB) - 200 shares in 1 trade, Colina Holdings Ltd. Preference (CHLA) - 50 shares in 1 trade, Colina Holdings Ltd. (CHL) - 313 shares in 3 trades, Commonwealth Brewery (CBB) - 200 shares in 2 trades and FOCOL (FCL) - 400 shares in 2 trades. Weekly_Market_Recap_23_September_2016 Click here for full Weekly Market Recap
Financial Market Brief 16 September 2016
The local market ended this week with 79,505 shares crossing the exchange with 23 trades to accumulate a value of $426,947.85. The BISX All-Share Index gained 2.18 points or 0.11 percent to end the week at 1,942.55. Year to date the Index is up 118.60 points or 6.50 percent. This week’s volume and value leader was AML Foods Ltd. (AML) moving 63,065 shares in 4 trades to accumulate a value of $255,933.25. The remaining volume this week was attributed to: Arawak Cay Port Development Ltd. (APD) - 620 shares in 9 trades, Bank of the Bahamas (BOB) - 500 shares in 1 trade, Commonwealth Brewery (CBB) - 120 shares in 1 trade, Commonwealth Bank Ltd. - 15,000 shares in 7 trades and JS Johnson (JSJ) - 200 shares in 1 trade. Weekly_Market_Recap_16_September_2016 Click here for full Weekly Market Recap
Financial Market Brief 9 September 2016
The local market ended this week with 50,550 shares crossing the exchange with 27 trades to accumulate a value of $266,308.00. The BISX All-Share Index lost 34.52 points or 1.75 percent to end the week at 1,940.37. Year to date the Index is up 116.42 points or 6.38 percent. This week’s value leader was Focol Holdings Limited (FCL) moving 21,000 shares in 4 trades to accumulate a value of $171,650.00 and the volume leader was Bank of The Bahamas Limited (BOB) moving 24,000 shares in 13 trades to accumulate a value of $48,360.00. The remaining volume this week was attributed to: Fidelity Bank Limited (FBB) - 1,175 shares in 6 trades, Commonwealth Brewery (CBB) - 50 shares in 1 trade, Commonwealth Bank Ltd. (CBL) - 2,250 shares in 2 trades and FamGuard (FAM) - 2,075 shares in 1 trade. Weekly_Market_Recap_9_September_2016 Click here for full Weekly Market Recap
Financial Market Brief 2 September 2016
The local market ended this week with 14,246 shares crossing the exchange with 9 trades to accumulate a value of $150,162.85. The BISX All-Share Index gained 0.01 points or 0.001 percent to end the week at 1,974.89. Year to date the Index is up 150.94 points or 8.28 percent. This week’s value and volume leader was Commonwealth Bank Limited (CBL) moving 13,221 shares in 4 trades to accumulate a value of $140,142.60. The remaining volume this week was attributed to: AML Foods Limited (AML) - 250 shares in 2 trades, Bank of the Bahamas (BOB) - 25 shares in 1 trade and JS Johnson (JSJ) - 750 shares in 2 trades. Weekly_Market_Recap_2_September_2016 Click here for full Weekly Market Recap
Financial Market Brief 26 August 2016
On August 22, 2016, Moody’s Investors Service remained true to its word as the rating agency downgraded the Government of the Bahamas’ bond and issuer ratings. Even though the ratings agency indicated in its July 01, 2016 ‘Rating Review’ that the Bahamas’ sovereign rating was likely to move down one or more notches, it only downgraded the rating by one notch to Baa3 from Baa2. Moody’s, however, maintained the country’s stable credit rating outlook. This latest rating action by Moody’s brings the Bahamas’ sovereign debt rating on par with Standard & Poor’s BBB- rating which is also just one notch above ‘junk bond’ status. The key drivers behind Moody’s recent rating downgrade are the country’s low medium-term growth prospects which have resulted in a weaker economic strength than other sovereigns with Baa ratings; and the country’s persistently high and escalating government debt ratios which have led to a much narrower fiscal gap than rating peers. This rating downgrade comes as no surprise since Moody’s warned policymakers during its August 31, 2015 report on the Bahamas that if Baha Mar’s opening extended beyond the second half of 2016, the rating agency’s growth estimate for the Bahamas would be lowered to 1.50% - 2.00%. It is now August 2016 and Baha Mar is still not completed. The Prime Minister, Mr. Perry Christie, announced on August 22, 2016 that construction to complete Baha Mar will commence in September. Another trigger that prompted the rating review by Moody’s and the eventual downgrade was the June 2016 announcement that the Bahamian economy contracted in 2014 and 2015. The Department of Statistics surprised many, including Moody’s, when it revealed that the economy had in fact contracted by 0.52% in 2014 rather than grown by 1.02% as previously reported. In 2015 the economy also recorded a negative growth of 1.66%. These adjustments to growth, particularly for 2015, represent a negative 316 basis points (or 3.16 percentage points) deviation from Moody’s 2015 growth estimates. Weekly_Market_Recap_26_August_2016 Click here for full Weekly Market Recap
Financial Market Brief 19 August 2016
In recent times there has been increased commentary on the utilization of the substantial Value Added Tax (VAT) receipts collected by the government. In an effort to improve the revenue intake and to increase government revenues as a percentage of national income, VAT was implemented at 7.50% on January 01, 2015. Since its implementation, VAT collections have consistently exceeded expectations. For the 11 months of FY 2015-16 (Jul. 2015 – May 2016), the government collected $600.20 million in VAT receipts. While impressive, the substantial VAT intake has masked the slowing trend in overall government revenues. For instance, government revenue receipts for the first five months of 2016 were $3.18 million or 0.37% lower than the same period last year, standing at $844.48 million. Still, during this period, VAT receipts expanded from $182.05 million in 2015 to $282.64 million in 2016, a whopping 55.25% increase. Weekly_Market_Recap_19_August_2016 Click here for full Weekly Market Recap
Financial Market Brief 5 Aug 2016
The results of the recently released May 2016 Labour Force Survey shows signs of improvement in the Bahamas’ labour market. The rate of unemployment fell to 12.70% in May 2016, a decline of 3.50 percentage points, from its peak of 16.20% in May 2013. During this period of progress in the labour market, real GDP growth, on the other hand deteriorated from 0.01% in 2013 to -1.66% in 2015. Growth in GDP usually coincides with improvements in the labour market. Therefore, given the disparity between the unemployment rate and economic growth, recent news on the reduction in the national rate of unemployment should be considered with some caution. Weekly_Market_Recap_July_22_2016 Click here for full Weekly Market Recap
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