Local Equities Market
For the week ending May 10, 2024, the local stock market, measured by the Combined Index, declined by 0.80%. The Main Market Index declined by 0.70%, the Junior Market Index declined by 1.97%, and the JSE USD Equities Index advanced by 0.04%. During the week, Caribbean Assurance Brokers were the largest gainer, rising by approximately 65.91% to close at $3.65. The Limners and Bards Limited was the biggest decliner, which fell by 17.53% to close at $1.27. Large-cap stocks, reflecting those listed on the Main Market Index are overperforming on a YTD basis, decreasing by 2.19%, relative to its Junior Market counterpart which has declined by 3.11%.
For the week ending May 10, 2024, overall market activity resulted from trading in 124 stocks of which 41 advanced, 64 declined and 19 traded firm. Market volume amounted to 137,412,425 units valued at over $397,678,982.59. Fosrich Company Limited was the volume leader with 117,790,248 units (60.12%), followed by Wigton Windfarm Limited with 14,162,904 units (7.23%), and by Caribbean Assurance Brokers Limited with 9,425,802 units (4.81%).
Revisiting relevant news during the week:
GK’s money services returns flat as remittance challenges persist
A highly competitive global remittance market and the continuation of macro-economic challenges are being cited among the top reasons for GraceKennedy Money Services’ (GKMS) underperformance after its results returned flat at the end of the first-quarter period in March.
GK’s money services returns flat as remittance challenges persist
GHL TARGETS EUROPE
Guardian Holdings Limited (GHL) is setting its sights on Europe as its next major growth market to move the needle for the regional insurance and wealth conglomerate.
GHL TARGETS EUROPE
Caribbean Cement ups focus on sustainability
Caribbean Cement Company has earmarked at least 20 per cent of its planned US$40-million investment this year to up its sustainability efforts as the company pushes for net-zero status.
Caribbean Cement ups focus on sustainability
Omni Industries going after $500m in IPO
Omni Industries Limited, the Spanish Town, St Catherine-based producer and distributor of plastic products, is seeking to raise $500 million in the first initial public offering (IPO) of 2024. The funds are to be raised from the sale of 500 million shares at $1 each.
Omni Industries going after $500m in IPO
Sygnus Real Estate seeking $3.4 billion private placement
Sygnus Real Estate Finance Limited (SRF) will be seeking to raise $3.45 billion through a debt instrument as it prepares for its second investment cycle while it awaits the proceeds of its current projects.
Sygnus Real Estate seeking $3.4 billion private placement
400 workers needed
Wisynco Group Limited is looking to add another 400 persons to its employee roster to meet the demands of local and international markets.
400 workers needed
Lee-Chin’s holdcos seek debt extension
AIC (Barbados), Portland (Barbados) and Specialty Coffee Investments Company are seeking extensions on their maturing
debt as investors seek to reallocate their principal to other investments.
Lee-Chin’s holdcos seek debt extension
| Unit Trust Fund | 08/05/2024 | 30/04/2024 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 76.11 | 78.13 | -2.58% | -5.49% | -5.28% | - |
| Money Market | 16.543 | 16.4842 | 0.36% | 1.55% | 4.78% | 5.46% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 6.13% |
| FX Bond Portfolio (US$) | 1.4578 | 1.4381 | 1.37% | 2.39% | 6.51% | 4.97% |
| Real Estate Portfolio | 16,311.11 | 16,259.81 | 0.32% | 29.57% | 32.97% | - |
| FX Growth Portfolio | 1.04 | 1.01 | 3.46% | 9.36% | 18.68% | - |
| FX Income Accumulator | 1.0159 | 1.0138 | 0.21% | 0.08% | 0.71% | 2.99% |
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