Local Equities Market
For the week ended November 25, 2022, the local stock market as measured by the Combined Index advanced by 0.72%. The Main Market Index advanced by 0.80%, the JSE Junior Market Index declined by 0.04%, and the JSE USD Equities Index declined by 1.41%. During the week, Jamaica Producers Group was the largest ordinary equity gainer, rising by approximately 23.40% to close at $22.62. The biggest decliner was ISP Finance Services Limited which fell by 19.03% to close at $14.98. Small-cap stocks, reflecting those listed on the Junior Market Index have outperformed, growing by 12.89%, outpacing its Main Market counterpart which has declined 14.67%. It must be noted that the Junior market has retreated from its highs achieved during the summer. For the week ended November 25, 2022, overall market activity resulted from trading in 125 stocks of which 56 advanced, 53 declined and 16 traded firm. Market volume amounted to 90,791,981 units valued at over $475,646,694.20. Wigton Windfarm Limited Ordinary Shares was the volume leader with 25,107,536 units (27.48%) followed by Everything Fresh Limited with 10,169,709 units (11.13%) and One on One Educational Services with 6,284,907 units (6.88%) Revisiting relevant news during the week: Economic recovery continues The continued recovery of the local economy has resulted in growth of some 4.3 percent for the previously ended July– September quarter when compared to that of last year, according to preliminary data released by the Planning Institute of Jamaica (PIOJ) yesterday.
Economic recovery continues
Eppley, Jamaica Producers form Capital Infrastructure Group Eppley Limited and Jamaica Producers Group Limited (JP Group) have formed a Barbadian joint venture called Capital Infrastructure Group Limited (CIG), which will invest in infrastructure projects across the Caribbean.
Eppley, Jamaica Producers form Capital Infrastructure Group
Life insurance continues dominance of insurance sector The Financial Services Commission (FSC) in its latest report on the insurance sector for the quarter ended June 30, 2022, indicates that the island’s six life insurance companies continue to dominate the industry.
Life insurance continues dominance of insurance sector
VM Group restructure gets court approval The Supreme Court has granted an order approving a scheme of arrangement for the restructuring of Victoria Mutual Building Society (VMBS) and its subsidiaries.
VM Group restructure gets court approval
Regency Petroleum IPO oversubscribed Regency Petroleum Company Limited’s (RPL) initial public offering (IPO) officially closed on November 25, a day after it opened, as it became the fifth Junior Market IPO in 2022 to be oversubscribed.
Regency Petroleum IPO oversubscribed
Everything Fresh benefiting from tourism rebound As tourism arrivals in the Caribbean continue to recover to prepandemic levels, Everything Fresh has reaped the rewards in Jamaica and The Bahamas where both countries have seen improved earnings compared to last year.
Everything Fresh benefiting from tourism rebound
Private sector wage survey shows mixed results The Private Sector Organisation of Jamaica (PSOJ) last week completed a “wage increase” survey on behalf of the Jamaica Observer that seeks to determine the factors affecting the ability of companies to raise employee income and the forces pushing others to meet the demand for higher employee remuneration.
Private sector wage survey shows mixed results
| Unit Trust Fund | 23/11/2022 | 16/11/2022 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 89.43 | 92.37 | 3.19% | -2.75% | 1.29% | - |
| Money Market | 15.4585 | 15.3516 | 0.70% | 1.54% | 0.39% | 4.28% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 4.77% |
| FX Bond Portfolio (US$) | 1.3371 | 1.3422 | -0.38% | -2.59% | -2.54% | 4.13% |
| Real Estate Portfolio | 5,211.84 | 5,218.20 | -0.12% | 883.24% | 910.66% | - |
| FX Growth Portfolio | 910.66% | 0.88 | 0.88 | -18.47% | -19.35% | - |
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