Local Equities Market
For the week ending February 2, 2024, the local stock market, measured by the Combined Index, advanced by 1.80%. The Main Market Index advanced by 1.88%, the Junior Market Index advanced by 1.05%, and the JSE USD Equities Index advanced by 1.44%. During the week, ISP Finance Services Limited was the largest gainer, rising by approximately 33.54% to close at $30.02. FirstRock Real Estate Investments Limited (USD) was the biggest decliner, which fell by 18.67% to close at USD 0.04.
Large-cap stocks, reflecting those listed on the Main Market Index are overperforming on a YTD basis, increasing by 1.12%, relative to its Junior Market counterpart which has declined by 1.29%.
For the week ending February 2, 2024, overall Market activity resulted from trading 119 stocks of which 60 advanced, 46 declined and 13 traded firm. Market volume amounted to 133,667,857 units valued at over $1,555,636,959.50. Wigton WIndFarm Limited was the volume leader with 28,092,218 units (20.67%), followed by TransJamaican Highway Limited with 15,863,160 units (11.67%) and by Grace Kennedy Limited with 14,151,170 units (10.41%).
Revisiting relevant news during the week:
NCB divests Cayman business
National Commercial Bank Jamaica Limited (NCBJ) announced that it has sold its NCB (Cayman) Limited subsidiary to UK-based Berkeley Financial Holdings Limited. NCB (Cayman) Limited is a commercial bank domiciled in the Cayman Islands, and operates under a Class-A licence from Cayman Islands Monetary Authority (CIMA).
NCB divests Cayman business
Government loses CCJ case on soap tax waiver
A victory by DCP Successors Limited has left Jamaican soap manufacturers pondering their next move as the Caribbean Court of Justice (CCJ) has ruled that Jamaica is in breach of regional trade rules by not applying tariffs to soap noodles imported into the country from non-Caricom sources.
Government loses CCJ case on soap tax waiver
Massy eyes US expansion
Massy Holdings has set its sights on expanding in the United States and Latin America as it consolidates its operation under three core businesses — integrated retail, gas products, and motors and machines.
Massy eyes US expansion
MFS Capital Partners to raise new capital
MFS Capital Partners will be looking to raise new capital that will see it maxing out the Jamaica Stock Exchange’s (JSE’s) allowable capital raise of $500 million for Junior Market-listed companies.
MFS Capital Partners to raise new capital
Eppley Property Fund quintuples portfolio in four years
ppley Caribbean Property Fund Limited SCC – Value Fund (CPFV) has managed to grow its real estate portfolio from 269,848 square feet (sq ft) in June 2019 to 1.14 million sq ft as of September 2023 with the business continuing to expand to new jurisdictions.
Eppley Property Fund quintuples portfolio in four years
Sygnus Credit sponsoring new fund with impact investing focus
Sygnus Credit Investments Limited (SCI) will be turning deeper focus on impact investing going forward as it looks to have a greater social impact in the region while growing its private credit portfolio.
Sygnus Credit sponsoring new fund with impact investing focus
| Unit Trust Fund | 31/01/2024 | 24/01/2024 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 79.88 | 76.12 | 4.94% | -0.81% | -12.11% | - |
| Money Market | 16.3651 | 16.3494 | 0.10% | 0.45% | 4.90% | 5.24% |
| Income Portfolio | 100.00 | 100.00 | -0.00% | - | - | 5.96% |
| FX Bond Portfolio (US$) | 1.4335 | 1.4307 | 0.20% | 0.68% | 6.49% | 5.03% |
| Real Estate Portfolio | 12,663.73 | 12,669.41 | -0.04% | 0.60% | 58.31% | - |
| FX Growth Portfolio | 0.96 | 0.96 | -0.17% | 0.23% | 6.57% | - |
| FX Income Accumulator | 1.0198 | 1.0148 | 0.49% | 0.47% | 1.55% | 2.84% |
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