Local Equities Market
For the week ending October 13, 2023, the local stock market, measured by the Combined Index, advanced by 0.07%. The Main Market Index declined by 0.03%, the Junior Market Index advanced by 0.89%, and the JSE USD Equities Index decreased by 1.75%. During the week, Margaritaville (Turks) Limited USD was the largest gainer, rising by approximately 36.70% to close at US$0.13. ISP Finance Services Limited was the biggest decliner, which fell by 29.75% to close at $30.91.
Large-cap stocks, reflecting those listed on the Main Market Index are underperforming on a YTD basis, declining by 11.52%, relative to its Junior Market counterpart which has declined by 1.79%
For the week ending October 13, 2023, overall market activity resulted from trading in 122 stocks of which 62 advanced, 48 declined and 12 traded firm. Market volume amounted to 197,098,851 units valued at over $744,335,887.88. JMMB Group 7.25% VR JMD Pref shares was the volume leader with 70,060,395 units (35.23%), followed by JFP Limited with 46,525,884 units (23.39%), and by Mailpac Group Limited with 12,850,607 units (6.46%).
Revisiting relevant news during the week:
Stanley Motta on track for Unit 1 completion
Real estate developer Stanley Motta Limited (SML) is looking to complete the expansion of its 126,000 square feet building known as Unit 1 in Kingston by April 2024, which is set to significantly improve its earnings.
Stanley Motta on track for Unit 1 completion
Sagicor Financial gets investment grade credit rating
Sagicor Financial Company Limited (SFC) has attained its long- desired goal of an investment grade credit rating following recent upgrades by S&P Global Ratings and Fitch Ratings. SFC’s rating upgrades is driven by the acquisition of Ivari, a Canadian middle market life insurance company,
Sagicor Financial gets investment grade credit rating
JN Bank restructures real estate portfolio with Eppley deal
JN Bank Limited has sold 22 buildings-covering 267,000 square feet-for $4.55 billion to Eppley Caribbean Property Fund Limited SCC and the Caribbean Mezzanine Fund II (CMF II), as it becomes the latest financial institution to restructure its real estate assets.
JN Bank restructures real estate portfolio with Eppley deal
Palace returns to billion-dollar sales
Cinema operator Palace Amusement Company Limited at the end of its last financial year not only hopped out of the red but also returned to delivering over a billion dollars in sales, fully recovering from the clutches of the novel coronavirus pandemic which placed previous earnings in intermission.
Palace returns to billion-dollar sales
Proven Group’s assets surpass US$1 billion
The acquisition of Proven Bank has catapulted Proven Group’s total assets to over US$1 billion. Net revenues surged by nearly 30 per cent to reach $49.64 million.
Proven Group’s assets surpass US$1 billion
Lasco Financial bets on microfinance
Lasco Financial Services Limited (LASF) is betting its future growth on its microfinance subsidiary Lasco Microfinance Limited amid the shifting remittance market.
Lasco Financial bets on microfinance
| Unit Trust Fund | 12/10/2023 | 04/10/2023 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 75.32 | 74.67 | 0.86% | -21.39% | -20.81% | - |
| Money Market | 16.0681 | 16.1527 | -0.52% | 3.43% | 4.44% | 5.20% |
| Income Portfolio | 100.00 | 100.00 | -0.00% | - | - | 6.12% |
| FX Bond Portfolio (US$) | 1.3994 | 1.3980 | 0.10% | 4.36% | 5.09% | 5.07% |
| Real Estate Portfolio | 12,731.02 | 12,727.24 | 0.03% | 60.41% | 143.91% | - |
| FX Growth Portfolio | 0.86 | 0.8432 | 1.84% | 1.54% | 5.78% | - |
| FX Income Accumulator | 1.00 | 1.00 | 0.06% | 0.14% | - | 2.10% |
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