Local Equities Market
For the week ended April 28, 2023, the local stock market as measured by the Combined Index advanced by 1.59%. The Main Market Index advanced by 1.87%, the Junior Market Index declined by 0.97%, and the JSE USD Equities Index declined by 9.68%. During the week, Stanley Motta Limited Ordinary Shares was the largest gainer, rising by approximately 20.37% to close at $6.44. The biggest decliner was MPC Caribbean Clean Energy Limited, which fell by 16.24% to close at $72.24.
Large-cap stocks, reflecting those listed on the Main Market Index have outperformed on a YTD basis, declining by 5.01%, relative to its Junior Market counterpart which has declined by 6.23%.
For the week ended April 28, 2023, overall market activity resulted from trading in 126 stocks of which 66 advanced, 52 declined and 8 traded firm. Market volume amounted to 144,771,490 units valued at over $709,193,025.59. Transjamaican Highway Limited was the volume leader with 33,960,065 units (20.19%), followed by Wigton Windfarm with 19,925,886 units (11.85%) and then First Rock Real Estate Investments Limited with 19,368,000 units (11.51%).
Revisiting relevant news during the week:
Sterling pulls through difficult 2022
As it continued to take advantage of market volatilities and navigate global challenges, boutique investment firm Sterling Investments Limited (SIL) during its last financial year managed to deliver marginal growth in net interest income which amount to $148 million – 2 per cent above its record 2021 out-turn.
Sterling pulls through difficult 2022
Sygnus Credit share buy-back to begin shortly
As the local stock market continues to decline amid rising interest rates, Sygnus Credit Investments Limited (SCI) will be seeking to execute its share buy-back programme by mid-June to provide additional liquidity and shore up the stock price.
Sygnus Credit share buy-back to begin shortly
Paramount aims to quadruple business
Paramount Trading (Jamaica) has set its sights on an aggressive target of quadrupling both its revenues and profits by 2027 as it builds out its manufacturing arm to satisfy demand for its products in the local and export markets.
Paramount aims to quadruple business
New strategic initiatives to drive One on One revenue
One on One Educational Services Limited CEO Ricardo Allen said the company continues to implement strategic initiatives, including launching proprietary technologies, geared toward generating “sustainable medium- to long-term revenues” that will drive shareholder value.
New strategic initiatives to drive One on One revenue
VM Group expanding private equity scope
VM Group Limited is looking to expand its private equity portfolio as it looks to partner with businesses across the Caribbean.
VM Group expanding private equity scope
Kingston Wharves announces key management appointments
THE KINGSTON Wharves has announced two key management appointments. Rodrigo Olea has been appointed chief operations officer, terminal division; and Valrie Campbell has been appointed general manager for group operations. The latest assignments are geared at positioning the company for its next phase of growth, CEO Mark Williams said.
Kingston Wharves announces key management appointments
| Unit Trust Fund | 26/04/2023 | 19/04/2023 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 81.32 | 80.92 | 0.49% | -15.13% | -19.84% | - |
| Money Market | 15.7361 | 15.7439 | -0.05% | 1.29% | 3.37% | 4.72% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 5.40% |
| FX Bond Portfolio (US$) | 1.3666 | 1.3662 | 0.03% | 1.92% | 0.92% | 4.78% |
| Real Estate Portfolio | 12,238.26 | 12,231.04 | 0.06% | 54.20% | 2102.61% | - |
| FX Growth Portfolio | 0.8734 | 0.8786 | -0.59% | 3.28% | 4.82% | - |
| FX Income Accumulator | 1.0113 | 1.0083 | 0.30% | 1.00% | - | 2.31% |
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