By: Gavin Riley
Respected New York business outlet Bloomberg has noted that Jamaica’s spectacular stock market rally continues to be a world leader, with no immediate signs of slowing down.
In an article released on Wednesday, October 3, Bloomberg, which has been aggressively tracking Jamaica’s gains over the last five years, said that the island’s benchmark index has gained 19 percent in dollar terms this year – the most among more than 90 primary equity gauges.
“Over the last five years, [Jamaica’s] 233 percent rally dwarfs the 86 percent rally in the second-top performer, Vietnam’s Ho Chi Minh Stock Index, and the 73 percent rally in the S&P 500 index,” Bloomberg wrote.
Bloomberg further stated in data it has accumulated from analysts, that it expects Jamaica’s economy to grow by two percent this year – the fastest pace in more than a decade.
Barita Investments Limited was identified as the Jamaica Stock Exchange’s (JSE) top performer, “whose shares have rallied 129 percent in dollar terms this year.”
Bloomberg glowing review comes nearly a week after global rating firm Standard and Poor’s upgraded Jamaica’s outlook from ‘stable’ to ‘positive’. The island also maintained its ‘B’ credit rating.