Local Equities Market
For the week ended March 10, 2023, the local stock market as measured by the Combined Index declined by 1.73%. The Main Market Index declined by 1.67%, the JSE Junior Market Index declined by 2.22%, and the JSE USD Equities Index declined by 9.77%. During the week, First Rock Real Estate Limited (USD), rising by approximately 16.67% to close at USD 0.07. The biggest decliner was Palace Amusement Co. Ltd., which fell by 42.09% to close at $2.71.
Small-cap stocks, reflecting those listed on the Junior Market Index have slightly outperformed on a YTD basis, declining by 4.52%, outpacing its Main Market counterpart which has declined 7.15%.
For the week ended March 10, 2023, overall market activity resulted from trading in 126 stocks of which 34 advanced, 82 declined and 10 traded firm. Market volume amounted to 114,706,781 units valued at over $1,486,115,899.62. Wigton Windfarm Limited Ordinary Shares was the volume leader with 23,419,175 units (20.36%), followed by Jamaica Broilers Group Limited with 13,263,064 units (11.53%), and JMMB Group 7.25% VR JMD CR Preference Shares with 10,513,873 units (9.14%).
Revisiting relevant news during the week:
BOJ gives greenlight for Cornerstone reorganisation
The Bank of Jamaica (BOJ) has written to Cornerstone United Holdings Jamaica Limited (CUHJL) stating it has no objection to a proposed reorganisation of the financial group.
BOJ gives greenlight for Cornerstone reorganisation
Wisynco eyes production return in UK
Chairman of the Wisynco Group William Mahfood said the company could return some of its production overseas to satisfy growing demand in its export markets even though its focus now is on expanding local production.
Wisynco eyes production return in UK
FirstRock exploring new real estate projects
FirstRock Real Estate Investments Limited (FRRE) is planning a suite of new real estate investments for 2023 as it continues its geographic diversification strategy.
FirstRock exploring new real estate projects
Concerns raised about Massy acquisition of IGL
Concerns are being raised about the impact Massy Holdings’ pending US$140.3-million acquisition of IGL could have on the economy, especially with the joint entity set to have up to 90 per cent of the commercial gas market.
Concerns raised about Massy acquisition of IGL
Fontana going big on technology
Fontana Limited is looking to reap the benefits of recent technology investments and partnerships to further optimise its growing $5-billion business in 2023.
Fontana going big on technology
MPC earnings wilt under La Nina conditions
Weather conditions presented by La Nina and extensive repairs at MPC Caribbean Clean Energy’s renewable energy plants resulted in its net comprehensive income decreasing in the fourth quarter, according to interim unaudited reports.
MPC earnings wilt under La Nina conditions
KWL builds capacity to strengthen competitiveness
Kingston Wharves Limited (KWL), following the build-out of its terminal and logistic infrastructure accompanied by the use of technology, said that it is working to strengthen its competitiveness while positioning its port operation as a key gateway in the Caribbean.
KWL builds capacity to strengthen competitiveness
| Unit Trust Fund | 08/03/2023 | 28/02/2023 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 83.27 | 86.47 | 3.70% | -13.09% | -9.85% | - |
| Money Market | 15.5900 | 15.6490 | 0.38% | 0.35% | 2.22% | 4.72% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 5.52% |
| FX Bond Portfolio (US$) | 1.3566 | 1.3560 | 0.04% | 1.16% | 0.22% | 4.73% |
| Real Estate Portfolio | 7,996.87 | 7,995.01 | 0.02% | 0.76% | 1343.99% | - |
| FX Growth Portfolio | 0.8835 | 0.8808 | 0.31% | 4.47% | 9.66% | - |
| FX Income Accumulator | 1.0046 | 1.0077 | -0.31% | 0.33% | - | 0.68% |
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