Local Equities Market
For the week ending July 12, 2024, the local stock market, measured by the Combined Index, declined by 0.26%. The Main Market Index declined by 0.11%, the Junior Market Index declined by 1.94%, and the JSE USD Equities Index declined by 4.10%. During the week, MPC Caribbean Clean Energy Limited was the largest gainer, rising by approximately 23.73% to close at $108.00. Sagicor Select Funds Limited – Manufacturing & Distribution was the biggest decliner, which fell by 24.10% to close at $0.63.
Large-cap stocks, reflecting those listed on the Main Market Index are overperforming on a YTD basis, decreasing by 2.09%, relative to its Junior Market counterpart which has declined by 3.28%.
For the week ending July 12, 2024, overall market activity resulted from trading in 119 stocks of which 37 advanced, 69 declined and 13 traded firm. Market volume amounted to 638,290,155 units valued at over $5,654,695,887.92. Caribbean Producers Jamaica Limited was the volume leader with 497,012,908 units (77.68%), followed by Ttech Limited with 52,061,614 units (8.14%), and by Wigton Windfarm Limited 18,266,842 units (2.86%).
Revisiting relevant news during the week:AS Bryden buys stake in CPJ
AS Bryden buys stake in CPJ
Trinidad and Tobago-based AS Bryden & Sons Holding Limited (ASBH) has acquired a 44.8 per cent stake in Caribbean Producers (Jamaica) Limited (CPJ) for $5.17 billion (US$32.82 million) and has already signalled that it hopes to acquire even more of the company.
AS Bryden buys stake in CPJ
Wigton, SunTerra Energy make next stage of 100 MW bid
Wigton Windfarm Limited (trading as Wigton Energy) and SunTerra Energy Jamaica Limited have seen their bids move to the pre-awarded bid stage, one step closer to 100 Megawatts (MW) of renewable energy being added to Jamaica’s energy mix.
Wigton, SunTerra Energy make next stage of 100 MW bid
Spur Tree Spices foresees growth despite profit decline
Spur Tree Spices opened the 2024/25 financial year on the same pattern of declining profits from 2023 but has sought to reassure shareholders that it’s better positioned for growth this year, owing to new product launches and factory upgrades.
Spur Tree Spices foresees growth despite profit decline
RA Williams hunts $400m in IPO
VM Investments Limited (VMIL) is looking to get more Jamaicans invested while broadening its horizons in the Caribbean as it seeks to build on its asset management platform and become a larger player in the wealth management space.
VM Investments going after more uninvested Jamaicans
Jamaica Manufacturers and Exporters Association (JMEA) is urging Bank of Jamaica (BOJ) to “avoid further tightening” of its key policy rate so as to help its members finance recovery from Hurricane Beryl.
JMEA presses BOJ on rates to help members recover from hurricane damage
| Unit Trust Fund | 10/07/2024 | 28/06/2024 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 76.06 | 78.83 | -3.51% | -5.56% | -2.32% | - |
| Money Market | 16.7313 | 16.6973 | 0.20% | 2.70% | 4.51% | 5.55% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 6.23% |
| FX Bond Portfolio (US$) | 1.4822 | 1.4624 | 1.35% | 4.10% | 7.56% | 4.96% |
| Real Estate Portfolio | 16,281.35 | 16,173.05 | 0.67% | 29.33% | 28.13% | - |
| FX Growth Portfolio | 1.1340 | 1.0968 | 3.39% | 18.97% | 27.91% | - |
| FX Income Accumulator | 1.0205 | 1.0199 | 0.06% | 0.54% | 1.56% | 3.45% |
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