Local Equities Market
For the week ending September 8, 2023, the local stock market, measured by the Combined Index, declined by 1.35%. The Main Market Index decreased by 1.32%, the Junior Market Index declined by 1.64%, and the JSE USD Equities Index declined by 1.04%. During the week, Caribbean Flavours & Fragrances was the largest gainer, rising by approximately 17.59% to close at $1.27. CAC 2000 Limited was the biggest decliner, which fell by 29.60% to close at $3.52.
Large-cap stocks, reflecting those listed on the Main Market Index are underperforming on a YTD basis, declining by 9.99%, relative to its Junior Market counterpart which has declined by 4.88%
For the week ending September 8, 2023, overall market activity resulted from trading in 120 stocks of which 421 advanced, 69 declined and 9 traded firm. Market volume amounted to 61,067,888 units valued at over $347,587,235.81. JMMB Group Limited was the volume leader with 9,178,295 units (14.60%), followed by Transjamaican Highway Limited with 7,873,515 units (12.53%), and by Future Energy Source Company with 5,150,662 units (8.19%).
Revisiting relevant news during the week:
Jamaica Broilers grows earnings despite mixed results
Poultry company, the Jamaica Broilers Group (JBG), has reported increased earnings for its first quarter ended July 29, 2023 despite mixed results from its subsidiaries.
Jamaica Broilers grows earnings despite mixed results
TT-based company takes top 10 stake in GraceKennedy
Masa Investments Limited, a Trinidad-based company, has emerged in recent shareholder lists of GraceKennedy Limited (GK) as the 10th-largest shareholder with an investment worth TT$48.91 million or $1.08 billion.
TT-based company takes top 10 stake in GraceKennedy
138 Student Living targets new projects
138 Student Living Jamaica Limited (138SL) said its additional public offering (APO) of stocks to the public as of today will set the company on a path to returning more dividends to shareholders while allowing it to target new projects it forecasts will boost revenues up to 50 per cent in the next five years.
138 Student Living targets new projects
AS Bryden continues to boost Seprod’s growth
The full integration of its AS Bryden subsidiary continued to drive growth for manufacturing and distribution giant Seprod Limited which saw a near doubling of revenues in its last financial year.
AS Bryden continues to boost Seprod’s growth.
PBS CEO bullish on post-acquisition growth
CEO of Productive Business Solutions (PBS) Limited Pedro Paris is confident that the technology group will continue seeing organic growth in the coming years as the company deepens its footprint in the Latin American and the Caribbean region through acquisitions.
PBS CEO bullish on post-acquisition growth
SCI courts international finance partnerships
To strengthen its ability to deploy more private credit to businesses, Sygnus Credit Investments (SCI) said it is now working to build out partnerships with international credit facilities through which it hopes to access approximately US$100 million as it moves to expand the quality and quantity of its funding mix.
SCI courts international finance partnerships
| Unit Trust Fund | 06/09/2023 | 30/08/2023 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 73.30 | 72.40 | 1.24% | -23.50% | -23.52% | - |
| Money Market | 16.0624 | 16.0516 | 0.07% | 3.39% | 2.77% | 4.92% |
| Income Portfolio | 100.00 | 100.00 | -0.00% | - | - | 5.68% |
| FX Bond Portfolio (US$) | 1.3977 | 1.3975 | 0.01% | 4.23% | 3.98% | 5.01% |
| Real Estate Portfolio | 12,670.65 | 12,678.44 | -0.06% | 59.65% | 232.84% | - |
| FX Growth Portfolio | 0.88 | 0.8875 | -0.87% | 4.03% | -0.35% | - |
| FX Income Accumulator | 1.00 | 1.00 | 0.15% | 0.27% | - | 2.55% |
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