Local Equities Market
For the week ending August 4, 2023, the local stock market, measured by the Combined Index, advanced by 0.31%. The Main Market Index advanced by 0.25%, the Junior Market Index advanced by 0.84%, and the JSE USD Equities Index declined by 1.39%. During the week, Margaritaville (Turks) Limited USD was the largest gainer, rising by approximately 25.14% to close at USD 0.11. Stationery and Office Supplies Limited was the biggest decliner, which fell by 24.58% to close at $2.24.
Large-cap stocks, reflecting those listed on the Main Market Index are underperforming on a YTD basis, declining by 8.38%, relative to its Junior Market counterpart which has declined by 1.11%
For the week ending August 4, 2023, overall market activity resulted from trading in 123 stocks of which 53 advanced, 56 declined and 14 traded firm. Market volume amounted to 209,558,716 units valued at over $624,231,003.83. Transjamaican Highway LTD 8% was the volume leader with 113,649,653 (53.69%), followed by Sagicor Select Funds Limited – Financial with 8,886,719 units (4.20%), and by Transjamaican Highway Limited with 7,560,911 (3.57%).at will go beyond aesthetic renovations.
Revisiting relevant news during the week:
Carib Cement 6-month earnings fall
High cost attributed to a scheduled annual maintenance exercise done during the first quarter sent operational earnings and six months profit falling for cement manufacturer Carib Cement at the end of June.
Carib Cement 6-month earnings fall
Scotia ‘go green’ on new energy loan
Scotiabank is the latest financial institution to come to market with a new ‘green’ loan to propel increased investments in renewable energy, especially now as the globe moves to slow the pace of climate change.
Scotia ‘go green’ on new energy loan
GK to acquire contract manufacturer Unibev
GraceKennedy Limited (GK) has entered into an agreement to acquire privately owned Jamaican manufacturing company Unibev Limited.
GK to acquire contract manufacturer Unibev
SOS to distribute 3M International products
Continuing its impressive growth trajectory, Stationery and Office Supplies (SOS) is to begin distribution for 3M International in the local market by the last quarter of this financial year.
SOS to distribute 3M International products
BOJ green lights ISP, McKayla microcredit licences
The Bank of Jamaica (BOJ) has approved McKayla Financial Services Limited and ISP Finance Services Limited as the latest microcredit firms to be licensed under the new Microcredit Act, 2021 in the $40-billion industry.
BOJ green lights ISP, McKayla microcredit licences
FSC enhances capital adequacy framework for insurance companies
The Financial Services Commission (FSC) has updated and enhanced different capital adequacy metrics for the $517- billion insurance sector as it executes its new risk-based supervision framework.
FSC enhances capital adequacy framework for insurance companies
| Unit Trust Fund | 02/08/2023 | 26/07/2023 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 74.99 | 76.07 | -1.43% | -21.74% | -21.11% | - |
| Money Market | 15.9883 | 15.9556 | 0.17% | 2.88% | 4.67% | 4.78% |
| Income Portfolio | 100.00 | 100.00 | 0.00% | - | - | 5.62% |
| FX Bond Portfolio (US$) | 1.3785 | 1.3798 | -0.09% | 2.80% | 3.61% | 4.95% |
| Real Estate Portfolio | 12,704.06 | 12,689.44 | 0.12% | 60.07% | 234.86% | - |
| FX Growth Portfolio | 0.8921 | 0.8992 | -0.79% | 5.49% | -2.31% | - |
| FX Income Accumulator | 1.0034 | 1.0001 | 0.33% | 0.21% | - | 2.55% |
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