Despite a better than expected report economic data, stocks traded slightly lower as investors grew more concerned over the situation in Egypt as protests intensified having turned deadly in Cairo. These concerns over Egypt and the effect it could have on other countries in the Middle East, sent oil prices rising to a high not seen since 2008. By the end of the week, news that the unemployment rate fell to 9.0 per cent in January, from 9.4 per cent in December and that more companies beat earnings estimates, reversed losses on the stock market sending the S&P 500 to a 2-year high of 1,310.87. The Dow Jones increased 29.89 points on the last trading day of the week rising to 12,092.15 returning 2.27 per cent for the week. The Nasdaq composite index saw the largest weekly gain of 3.07 per cent closing at 2,769.30.
Trinidad and Tobago Stock Market
The Composite Index increased marginally for the week ending 4 February rising by 0.11 per cent to a value of 881.86 as five stocks advanced and one declined. The total volume of shares traded increased by 44.4 per cent over the week even as the total number of trades fell by 27. Volumes totaled 1,876,408 with the largest volumes seen in NCBJ (938,250), FCI (184,928) and CCFG (150,500). SFC saw the largest price increase this week rising by TT$0.74 to close at TT$10 with a total of 108,418 shares trading for the week at a value of TT$1,084,842.50.