Local Equities Market
For the week ending April 19, 2024, the local stock market, measured by the Combined Index, declined by 1.35%. The Main Market Index declined by 1.44%, the Junior Market Index declined by 0.26%, and the JSE USD Equities Index declined by 1.85%. During the week, Paramount Trading Limited was the largest gainer, rising by approximately 15.08% to close at $1.45. K.L.E. Group Limited was the biggest decliner, which fell by 20.00% to close at $1.92.
Large-cap stocks, reflecting those listed on the Main Market Index are overperforming on a YTD basis, decreasing by 1.12%, relative to its Junior Market counterpart which has declined by 1.41%.
For the week ending April 19, 2024, overall market activity resulted from trading in 124 stocks of which 46 advanced, 61 declined and 17 traded firm. Market volume amounted to 56,414,329 units valued at over $477,313,783.77. Wigton Windfarm Limited was the volume leader with 6,631,709 units (11.32%), followed by TransJamaican Highway Limited with 5,363,183 units (9.15%), and by Stationery & Office Supplies Limited 4,900,929 units (8.36%).
Revisiting relevant news during the week:
BOJ welcomes lower inflation but said fight not over
The Bank of Jamaica (BOJ) on Tuesday said the inflation out- turn for March was better than it had expected, but warned that the fight to contain prices within its mandated target range is not yet over. The BOJ also sought to temper expectations that it could start easing its tight monetary policy stance on the out-turn.
BOJ welcomes lower inflation but said fight not over
Spur Tree to refresh, relaunch brand
After months of teasing that it will be adding new products to its portfolio as part of diversifying from spices and seasonings to a full food brand, Spur Tree Spices said it will be launching more than two dozen new products on May 1, and will refresh and relaunch the brand to reflect its new focus.
Spur Tree to refresh, relaunch brand
GK acquires 20 per cent stake in Spur Tree Spices
Spur Tree Spices Jamaica Limited is now an associate company of GraceKennedy Limited (GK) with the conglomerate at the moment owning approximately 20.18 per cent of the spices company.
GK acquires 20 per cent stake in Spur Tree Spices
Consumer confidence holds firm; businesses embrace more tech
Consumer confidence remains resilient, yet spending plans stagnate, according to the latest findings from the Jamaica Chamber of Commerce’s consumer and business indices for the first quarter of 2024.
Consumer confidence holds firm; businesses embrace more tech
Pulse recommits to Pulse Global Project post-pandemic
Pulse Investments Limited is set to revive Pulse Global, an ambitious project it launched back in 2019 which was derailed by the COVID-19 pandemic.
Pulse recommits to Pulse Global Project post-pandemic
MF report warns of looming global growth slowdown, urges immediate action
In a sobering assessment, the International Monetary Fund (IMF) has projected a significant deceleration in global economic growth to 2.8 per cent by 2030, mirroring predictions made by the World Bank a year ago that global economic growth would fall to its lowest level by the end of 2030.
IMF report warns of looming global growth slowdown, urges immediate action
| Unit Trust Fund | 17/04/2024 | 10/04/2024 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 74.84 | 77.97 | -4.01% | -7.08% | -7.80% | - |
| Money Market | 16.4533 | 16.4366 | 0.10% | 1.00% | 4.53% | 5.40% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 6.22% |
| FX Bond Portfolio (US$) | 1.4351 | 1.4360 | -0.06% | 0.79% | 5.42% | 4.70% |
| Real Estate Portfolio | 16,242.38 | 16,179.59 | 0.39% | 29.02% | 33.29% | - |
| FX Growth Portfolio | 1.0071 | 1.0346 | -2.66% | 5.65% | 14.54% | - |
| FX Income Accumulator | 1.0135 | 1.0138 | -0.03% | -0.15% | 0.50% | 2.99% |
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