Even with better than expected reports on initial jobless claims and corporate earnings, the S&P continued to fall, but rose slightly on the last trading day of the week as oil prices started to retreat. The assurance from the International Energy Agency that measures would be put in place should oil supplies be disrupted did bode well for the market. The MSCI World index was down 1.56 per cent during the week falling from a high of 1,362.62. As the EM market battle inflation concerns, equities fell with the MSCI Emerging Market Index down 2.01 per cent to 1,099.46. The unrest in the Middle East and the impact it can have on oil prices and the stock market was evident this week. With Saudi Arabia said to be the only country capable of producing large amounts of oil on short notice, any sovereign concerns about that country will be a major blow to the market.
T&T Stock Market
The Composite Index decreased marginally in the week ending February 25 falling by 0.05 per cent to a value of 877.31 as 4 stocks declined and 2 advanced. The total volume of shares traded decreased by 57.48 per cent over the week as the total number of trades fell by 116. Volumes totaled 740,550 for the week with the largest volumes traded seen in NFM (307,810), FCI (108,362) and NEL (106,934). FFL saw the largest price increase for the week rising by TT$0.84 to close at TT$6.45 with a value of TT$25,800.