Local Equities Market
For the week ended April 21, 2023, the local stock market as measured by the Combined Index declined by 0.68%. The Main Market Index declined by 1.07%, the JSE Junior Market Index advanced by 2.96%, and the JSE USD Equities Index increased by 2.58%. During the week, Sygnus Real Estate Finance (USD) was the largest gainer, rising by approximately 47.21% to close at US$0.11. •The biggest decliner was Massy Holding Limited, which fell by 14.80% to close at $85.00.
Small-cap stocks, reflecting those listed on the Junior Market Index have outperformed on a YTD basis, rising by 3.99%, relative to its Main Market counterpart which has declined by 1.07%. For the week ended April 21, 2023, overall market activity resulted from trading in 120 stocks of which 59 advanced, 49 declined and 12 traded firm. Market volume amounted to 100,909,946 units valued at over $522,544,642.70. Transjamaican Highway Limited was the volume leader with 21,672,712 units (20.88%), followed by Wigton Windfarm with 13,445,318 units (12.95%) and then Stanley Motta Limited with 9,788,167 units (9.43%).
Revisiting relevant news during the week:
One on One profit dips for Q2
Second-Quarter profits of edtech company One on One Educational Services slid to $6.1 million for the period ending February 2023, owing to higher expenses, as the company continued its investment in growth projects while exploring new opportunities.
One on One profit dips for Q2
SRF 2023 exits to deliver dividends
Sygnus Real Estate Finance (SRF) is again committing to delivering a return to investors in financial year ending August 2023. Chief Investment Officer at Sygnus Group, Jason Morris, is promising dividends during the year once the harvesting of returns from certain projects starts to happen.
SRF 2023 exits to deliver dividends
VM Finance UK carves niche in real estate financing
VM Group has expanded its services in the United Kingdom by carving out a niche in the real estate financing market through its subsidiary VM Finance (UK) Limited. Formed in 2018, VM Finance provides funding to real estate developers in the UK market which are unable to access financing from traditional financial institutions. Today, the operation contributes 10 per cent to VM Group’s bottom line
VM Finance UK carves niche in real estate financing
138 Student Living readies for APO
Institutional Housing company, 138 Student Living (138SL), is mum on timing but says the floating of an additional public offer (APO) should happen any day now.
138 Student Living readies for APO
Derrimon targets high-density areas with online shopping
Targeting Portmore in St Catherine or more online shopping traffic, Derrimon Trading Company Limited subsidiary Sampars is offering that community free delivery of groceries on set days.
Derrimon targets high-density areas with online shopping
BOJ promises updated projections
THE BANK of Jamaica (BOJ) says it will, in short order, update its projections for the economy, following new data released by the Statistical Institute of Jamaica (Statin) which shows that annual inflation dropped to 6.2 per cent for the period ending March 2023. the country’s lowest inflation movement since August 2021.
BOJ promises updated projections
| Unit Trust Fund | 21/04/2023 | 13/04/2023 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 80.92 | 80.22 | -0.86% | -15.55% | -18.64% | - |
| Money Market | 15.74 | 15.63 | -0.69% | 1.34% | 4.32% | 4.72% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 5.43% |
| FX Bond Portfolio (US$) | 1.37 | 1.36 | -0.38% | 1.88% | 0.72% | 4.78% |
| Real Estate Portfolio | 12,231.04 | 12,166.92 | -0.52% | 54.11% | 2105.84% | - |
| FX Growth Portfolio | 0.88 | 0.88 | 0.16% | 3.89% | -11.25% | - |
| FX Income Accumulator | 1.01 | 1.01 | 0.17% | 0.69% | - | 0.65% |
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