Moscow. December 24. The tiny stock market in Jamaica has shown this year has become a global growth leader, although many of this country resembles a about rum cocktails or Bob Marley, says the Agency Bloomberg.
Acquisitions by foreign companies, strengthen guarantees for investors and the economic recovery contributed to more than 80% of the high growth index of the Jamaica stock exchange in 2015.
The world’s most famous indicators the indicators were much more modest. For example, the American Dow Jones Industrial Average fell from beginning of the year about 1%, while the European Euro Stoxx 50 lost in dollar terms of 6%.
The market value of companies of Jamaica, considered one of the most exotic “frontier” markets, is about $5.3 billion For comparison, the capitalization of companies whose shares are included in the calculation Dow Jones, is in the neighborhood of $5,23 billion.
Although the main stock index of Jamaica fell by 5% last year and 13% in 2013, investors should pay attention to this market, says Vice President of investor relations Bank of New York Mellon Carl Bennett. “I was impressed by the steps they have taken to raising capital”, – said the expert, indicating the new measures against insider trading and market manipulation.
The growth of the Jamaican economy accelerated for the third consecutive year and in 2015 is expected to be 1.4%.
An island in the Caribbean inhabited by 2.8 million people. While the debt burden of the country is one of the most significant in the world, the government restructured its debt twice since 2010.
The average daily volume of trades on the Jamaican stock exchange in January-November amounted to about $700 thousand, which is almost 40% higher than for the same period in 2014.
A significant rise in the profits of companies such as Caribbean Cement (cement manufacturer), and Pulse Investments (advertising, model Agency), have increased their capitalization more than doubled this year.