Local Equities Market
For the week ending June 14, 2024, the local stock market, measured by the Combined Index, advanced by 0.39%. The Main Market Index advanced by 0.38%, the Junior Market Index advanced by 0.50%, and the JSE USD Equities Index declined by 0.91%. During the week, Sagicor Select Funds Limited – Manufacturing & Distribution was the largest gainer, rising by approximately 28.36% to close at $0.86. ISP Finance Services Limited was the biggest decliner, which fell by 14.92% to close at $20.76.
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 3.39%.
For the week ending June 14, 2024, overall market activity resulted from trading in 126 stocks of which 45 advanced, 59 declined and 22 traded firm. Market volume amounted to 139,540,838 units valued at over $736,863,640.71. Omni Industries Limited was the volume leader with 26,553,211 units (18.92%), followed by Wigton Windfarm Limited with 18,466,801 units (13.16%), and by Sagicor Select Funds Limited – Financial with 14,882,699 units (10.60%).
Revisiting relevant news during the week:
KPREIT accelerates UK property acquisitions amid expected interest rate cuts
Kingston Properties Limited (KPREIT) is swiftly moving to acquire at least one property in the United Kingdom before the end of the year, seizing opportunities as expectations grow for cooling interest rates in the country.
KPREIT accelerates UK property acquisitions amid expected interest rate cuts
Scotia Group loan book surpasses $282 billion
Scotia Group Jamaica Limited’s (SGJ) consolidated loan portfolio hit a record $282.28 billion at April 30 amidst continued growth in loan demand from its more than half a million customers.
Scotia Group loan book surpasses $282 billion
JP looks to alternative energy, more real estate developments in growth push
Jamaica Producers Group (JPG), the single-largest shareholder in merged company PanJam Group, is looking to leverage lands it owns in St Mary as part of a broader plan to gin up earnings of PanJam Group over the medium to long term.
JP looks to alternative energy, more real estate developments in growth push
NCBFG APO falls short at $2.5b
The NCB Financial Group fell short in its latest quest to raise money, pulling in $2.5 billion — around half the initial amount sought — despite the offer being extended for an additional week to June 3 to attract more investors.
NCBFG APO falls short at $2.5b
Capex high but 4DX technology another silver lining for Palace
Even as expenditure to onboard the new 4DX technology continues to mount, director and marketing manager at Palace Amusement Company Limited Melanie Graham believes it’s worth the multimillion-dollar investment, which she hopes will bring more patrons and revenue to the cinema.
Capex high but 4DX technology another silver lining for Palace
We want to positively impact the average man
On March 1, 2024 Ramon Small-Ferguson took the reigns as CEO of Barita Investments. At 32, Small-Ferguson is one of the youngest CEOs of a major financial entity in Jamaica, overseeing an institution with $128 billion in assets and a market value of $87 billion at the end of trading on Tuesday.
We want to positively impact the average
FosRich enters US market…moves to supply infrastructural products for MBE projects across states
Lighting, electrical, and solar energy products distributor FosRich Company Limited, through its newly formed associate company FosRich USA Inc, has secured entry in the United States as it moves to tap opportunities available in the minority business enterprise (MBE) niche market.
FosRich enters US market…moves to supply infrastructural products for MBE projects across states
| Unit Trust Fund | 12/06/2024 | 05/06/2024 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 76.12 | 76.47 | -0.46% | 5.49% | -0.58% | - |
| Money Market | 16.6409 | 16.6243 | 0.10% | 2.15% | 4.37% | 5.44% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 6.07% |
| FX Bond Portfolio (US$) | 1.4615 | 1.4608 | 0.05% | 2.64% | 6.42% | 5.06% |
| Real Estate Portfolio | 6,189.16 | 16,198.04 | -0.05% | 28.60% | 31.28% | - |
| FX Growth Portfolio | 1.0781 | 1.0672 | 1.02% | 13.11% | 22.15% | - |
| FX Income Accumulator | 1.0196 | 1.0190 | 0.06% | 0.45% | 1.31% | 3.40% |
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