Local Equities Market
For the week ending March 01, 2023, the local stock market, measured by the Combined Index, advanced by 1.19%. The Main Market Index advanced by 1.17%, the Junior Market Index advanced by 1.39%, and the JSE USD Equities Index declined by 0.65%. During the week, Sterling Investments Limited was the largest gainer, rising by approximately 35.17% to close at USD0.02. AMG Packaging Limited was the biggest decliner, which fell by 20.04% to close at $2.89.
Large-cap stocks, reflecting those listed on the Main Market Index are overperforming on a YTD basis, increasing by 3.34%, relative to its Junior Market counterpart which has declined by 0.01%.
For the week ending February 23, 2024, overall Market activity resulted from trading 124 stocks of which 54 advanced, 61 declined and 9 traded firm. Market volume amounted to 200,262,040 units valued at over $890,727,930.90. Wigton Windfarm Limited was the volume leader with 64,827,733 units (32.03%), followed by TransJamaican Highway Limited with 28,039,212 units (13.86%), and by Derrimon Trading Company Limited with 22,947,487 units (11.34%).
Revisiting relevant news during the week:
MFS Capital Partners gets approval for rights issue CEO unveils investment strategy
MFS Capital Partners has received the green light from its shareholders to increase the company’s issued share capital and to subsequently raise new funds through a renounceable rights issue.
MFS Capital Partners gets approval for rights issue CEO unveils investment strategy
Cornerstone begins reorganisation
Cornerstone Financial Holdings Limited has begun its plans to restructure its financial subsidiaries under a scheme of arrangement to establish a corporate structure that is in compliance with the Banking Services Act (2014).
Cornerstone begins reorganisation
SOS acquires new $130-m Collins Green property
Stationery and Office Supplies Limited (SOS) has spent $130 million to secure new warehousing space after acquiring additional property at 26 Collins Green Avenue in Kingston.
SOS acquires new $130-m Collins Green property
PBS achieves record year
Productive Business Solutions Limited (PBS) managed to grow its earnings for the fourth quarter and overall year to new peaks following several deals and a new acquisition.
PBS achieves record year
Kingston Wharves expands berth
The Port of Kingston is closer to becoming a node in the international network of trans-shipment points or logistics hubs after the completion of the redevelopment of the Kingston Wharves Limited (KWL)-operated Berth 7
Kingston Wharves expands berth
Jamaica gets more IMF praise
The International Monetary Fund (IMF) continues to lavish praise on Jamaican authorities for the work that is being done to improve economic conditions on the island, but warned that it could be undone by ongoing geopolitical tensions elsewhere in the world and climate-related events. The praise and warning were contained in the IMF’s latest assessment of Jamaica’s economy — the so-called Article IV Consultations — and the second review of the progress made to date under the Resilience and Sustainability Facility (RSF) and the Precautionary and Liquidity Line (PLL) agreements.
Jamaica gets more IMF praise
| Unit Trust Fund | 28/02/2024 | 21/02/2024 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 78.12 | 77.41 | 0.91% | -3.01% | -9.67% | - |
| Money Market | 16.4168 | 16.4172 | 0.00% | 0.77% | 4.91% | 5.36% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 6.13% |
| FX Bond Portfolio (US$) | 1.4251 | 1.4323 | -0.50% | 0.09% | 5.10% | 5.34% |
| Real Estate Portfolio | 12,741.09 | 12,785.33 | -0.35% | 1.21% | 59.36% | - |
| FX Growth Portfolio | 1.00 | 0.9899 | 1.48% | 5.39% | 14.05% | - |
| FX Income Accumulator | 1.0151 | 1.0136 | 0.15% | 0.00% | 0.74% | 2.99% |
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