Local Stock Market Commentary:

Financial stocks led the market volume today and investors traded in three stocks of which one advanced and two remained unchanged. A total of 15,652 shares changed hands. Commonwealth Bank Ltd. (CBL) was the volume leader with 7,652 shares and closed unchanged at $7.00. FirstCaribbean Bank (CIB) rose by $0.05 to $11.60 on a volume of 5,000 shares. Cable Bahamas Ltd. (CAB) traded 3,000 shares and closed unchanged at $14.10.

The local market had bond transactions occur for the first time today on the exchange since their initial listing with investors trading a total of $30,000 worth of Fidelity Bank (Bahamas) Ltd. Notes. 10 Fidelity Series C Notes Due 2013 (FBB13) valued at $10,000 and 20 Fidelity Series D Notes Due 2015 (FBB15) valued at $20,000 changed hands today with a par value of $100.00

The FINDEX rose by +1.68 points, or 1.95% to close at 859.74.

Precious Metals:

Gold closed at $787.20, Silver at $11.13, Platinum at $1,179.50 and Crude Oil at $95.69 a barrel.

Foreign Currencies:

Against the US Dollar, the Euro closed at 1.4249, Pound Sterling at 1.7999, Yen at 104.65 and the Canadian Dollar at 1.0705.

Stocks:

Consolidated Water Company Ltd. (CWCO) fell by -0.11 or -0.51% to close at $21.49.


International Stock Market News:

U.S. stocks tumbled, pushing the Standard & Poor's 500 Index to the steepest drop since the September 2001 terrorist attacks, as Lehman Brothers Holdings Inc.'s bankruptcy and declining commodities increased speculation that credit-market losses and the economic slowdown will worsen.

European stocks tumbled, led by the biggest slump in banking shares in eight months, after the bankruptcy of Lehman Brothers Holdings Inc. drove investors to the safety of government debt.

Asian stocks trading in the U.S. fell the most in more than six years, led by Japanese banks on concern they may have to write off loans to Lehman Brothers Holdings Inc. after the securities firm filed for bankruptcy.

Emerging-market bonds, stocks and currencies tumbled from Moscow to Mexico City as the bankruptcy of Lehman Brothers Holdings Inc. drove investors to sell all but the safest assets.

The Dow Jones Industrial Average plummeted -504.48 points, or -4.42% to close at 10,971.51, on a volume of 432.97 million shares.

The top advancer was Coca-Cola Co. Top Decliners were Amer. Int'l Group, Bank of America, Exxon Mobil Corp. and JPMorgan Chase.

iShares MSCI Emerging Markets Index declined by -2.87 points, or -7.85% to close at $33.67.

The Standard & Poor's 500 Index lost -59.00 points, or -4.71% to close at 1,192.70.

The Financial Times 100 Index in London decreased by -212.50 points, or -3.92% to close at 5,204.20.

NIKKEI 225 Stock Average remained unchanged at 12,214.76 due to a public holiday in Japan.