Local Equities Market
For the week ended February 24, 2023, the local stock market as measured by the Combined Index advanced by 0.73%. The Main Market Index advanced by 0.93%, the JSE Junior Market Index declined by 1.01%, and the JSE USD Equities Index advanced by 1.60%. During the week, CAC 2000 Limited was the largest ordinary equity gainer, rising by approximately 23.56% to close at $8.34. The biggest decliner was ISP Finance Services Limited, which fell by 26.64% to close at $20.49.
Small-cap stocks, reflecting those listed on the Junior Market Index have slightly outperformed on a YTD basis, declining by 4.64%, outpacing its Main Market counterpart which has declined 6.34%.
For the week ended February 24, 2023, overall market activity resulted from trading in 124 stocks of which 57 advanced, 56 declined and 11 traded firm. Market volume amounted to 107,446,989 units valued at over $885,899,482.69. Fosrich Company Limited was the volume leader with 30,309,648 units (28.05%), followed by Wigton Windfarm Limited Ordinary Shares with 20,925,669 units (19.36%), and Massy Holdings Limited with4,489,365 units (4.15%).
Revisiting relevant news during the week:
Seprod earnings boosted by AS Bryden acquisition
The acquisition of Trinidadian company AS Bryden and Sons has started to reflect positively on the bottom line of manufacturing and distribution conglomerate Seprod Limited, which, at the end of December 2022, significantly increased quarterly earnings to $1.2 billion — 314 per cent above the previous year’s period
Seprod earnings boosted by AS Bryden acquisition
Caribbean cinema operators return to profitability
The Palace Amusement Company (1921) Limited and CinemaOne Limited have finally returned to profitability after sustaining three years of massive losses from the novel coronavirus pandemic.
Caribbean cinema operators return to profitability
Sygnus Credit Investments delisting cross-listed shares Sygnus
Credit Investments Limited (SCI) has announced that it will be delisting its Jamaican dollar cross-listed shares and its US dollar cross-listed shares on the Main Market of the Jamaica Stock Exchange.
Sygnus Credit Investments delisting cross-listed shares
Lasco Manufacturing launching new products
Lasco Manufacturing Limited (LASM) is planning to launch a suite of new products over the next three months as it continues to capitalize on the increasing demand from the open economy.
Lasco Manufacturing launching new products
Classroom in a Box for teacher shortage
One on One Educational Services plans to roll out a new software aimed at addressing the gap left by a shortage of trained teachers across Jamaica.
Classroom in a Box for teacher shortage
MDS beset by supply chain issues, contractual obligations
Medical Disposables and Supplies Limited (MDS) said it lost an estimated $100 million in sales last year as supply chain issues impacted its ability to source certain products for distribution.
MDS beset by supply chain issues, contractual obligations
BOJ governor upbeat that central bank winning inflation fight
Governor of the Bank of Jamaica (BOJ) Richard Byles said he believes the country is now at a “turning point” in the fight against inflation, with data showing the risks to continued increases in the inflation rate are dissipating.
BOJ governor upbeat that central bank winning inflation fight
| Unit Trust Fund | 21/02/2023 | 15/02/2023 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 84.91 | 86.38 | -1.70% | -11.38% | -8.76% | - |
| Money Market | 15.6406 | 15.6287 | 0.08% | 0.68% | 1.96% | 4.46% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 4.95% |
| FX Bond Portfolio (US$) | 1.3488 | 1.3493 | -0.04% | 0.58% | -1.62% | 4.62% |
| Real Estate Portfolio | 8,030.84 | 8,024.87 | 0.07% | 1.19% | 1357.21% | - |
| FX Growth Portfolio | 0.8843 | 0.9100 | 2.82% | 4.57% | -11.33% | - |
| FX Income Accumulator | 1.0069 | 1.0057 | 0.12% | 0.56% | - | 0.55% |
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