Channel Island Stocks Outperformed The Market In First Half

by Carla Johnson, Investors Offshore.com

25 July 2002

Company share prices in Jersey and Guernsey bucked the UK trend for the first half of this year, according to a report in the Guernsey Press and Star on Tuesday.

Russell Wynn, analyst with the Guernsey branch of stockbrokers Collins Stewart told the newspaper that although the majority of the gains occurred in the first quarter of 2002: 'Local shares have once again put in a more-than-respectable performance...continuing the trend of outperformance of the wider market seen in previous years.'

The release of the Collins Stewart market update for the period to 30 June confirms an earlier pronouncement by the brokerage. Speaking in early July, stockbroker Paul Wood announced that recent fluctuations in the world's stock markets have not so far had a marked effect on Guernsey's finance industry.

'We are cushioned against what has happened around the world,' he explained. 'Obviously, as result of the poor market, people are not buying and selling shares as much as they were, and that is costly to the Channel Islands market. But apart from that, there is no tangible effect.'

Recommended