Local Equities Market
For the week ending December 15, 2023, the local stock market, measured by the Combined Index, declined by 0.27%. The Main Market Index declined by 0.28%, the Junior Market Index declined by 0.14%, and the JSE USD Equities Index declined by 4.89%. During the week, iCreate Limited was the largest gainer, rising by approximately 18.84% to close at $0.82. Cargo Handlers Limited was the biggest decliner, which fell by 23.95% to close at $11.37.
Large-cap stocks, reflecting those listed on the Main Market Index are underperforming on a YTD basis, declining by 12.53%, relative to its Junior Market counterpart which has declined by 7.29%.
For the week ending December 15, 2023, overall Market activity resulted from trading in 123 stocks of which 50 advanced, 59 declined and 14 traded firm. Market volume amounted to 67,819,160 units valued at over $289,845,318.70. Caribbean Flavours & Fragrances Limited was the volume leader with 12,166,946 units (17.71%), followed by Wigton Windfarm Limited with 6,817,300 units (9.92%), and by TransJamaican Highway Limited with 6,240,660 units (9.08%).
Revisiting relevant news during the week:
Seprod lands co-manufacturer deal with margarine giant
Manufacturing and distribution company Seprod Limited has landed a co-manufacturer arrangement with Upfield, a global leader in the production of margarine and butter.
Seprod lands co-manufacturer deal with margarine giant
Scotia Group Jamaica achieves historic earnings
Scotia Group Jamaica Limited (SGJ) was able to deliver its highest net profit to date of $17.23 billion (CA$151.50 million) as all its business lines grew, with it bringing in over $40.84 billion in interest income as its loan portfolio topped $268.83 billion
Scotia Group Jamaica achieves historic earnings
Encouraged by the growing demand for its Lasco Gold Visa
Prepaid card, Lasco Financial Services (LFS) recently launched the ‘Simplify your life’ campaign which aims to enroll more of its remittance customers to use the Visa card to send and receive money overseas.
Encouraged by the growing demand for its Lasco Gold Visa
Fesco eyes Foska Oval for next service station
Encouraged by the growing demand for its Lasco Gold Visa Prepaid card, Lasco Financial Services (LFS) recently launched the ‘Simplify your life’ campaign which aims to enroll more of its remittance customers to use the Visa card to send and receive money overseas.
Fesco eyes Foska Oval for next service station
iCreate to consider spinning off Visual Vibe
Less than seven months after acquiring Visual Vibe.com Limited, iCreate Limited is looking to potentially spin-off its remaining ownership in the subsidiary to its shareholders.
iCreate to consider spinning off Visual Vibe
Another hint at a new round of rate hikes
There are signals coming from the Bank of Jamaica (BOJ) that rate hikes could resume soon as its forecast continues to show a new round of heightened price increases in coming months. The latest signal of a resumption in rate hikes came in the central bank’s financial policy committee (FPC) statement released last Wednesday.
Another hint at a new round of rate hikes
| Unit Trust Fund | 06/12/2023 | 06/12/2023 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 74.01 | 74.71 | -0.94% | -22.76% | -17.68% | - |
| Money Market | 16.2282 | 16.198 | 0.19% | 4.46% | 4.64% | 5.08% |
| Income Portfolio | 100.00 | 100.00 | -0.00% | - | - | 5.52% |
| FX Bond Portfolio (US$) | 1.4199 | 1.4136 | 0.45% | 5.89% | 5.95% | 5.01% |
| Real Estate Portfolio | 12,685.27 | 12,677.32 | 0.06% | 59.83% | 143.06% | - |
| FX Growth Portfolio | 0.9111 | 0.8864 | 2.79% | 7.74% | 4.60% | - |
| FX Income Accumulator | 4.60% | 1.0080 | 0.21% | 0.87% | - | 2.80% |
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