Local Equities Market
For the week ending July 26, 2024, the local stock market, measured by the Combined Index, increased by 1.08%. The Main Market Index increased by 0.95%, the Junior Market Index advanced by 2.56%, and the JSE USD Equities Index declined by 1.01%. During the week, Iron Rock Insurance Limited USD was the largest gainer, rising by approximately 39.45% to close at $3.04. Berger Paints Jamaica Limited was the biggest decliner, which fell by 27.19% to close at $6.16.
Large-cap stocks, reflecting those listed on the Main Market Index are underperforming on a YTD basis, decreasing by 3.45%, relative to its Junior Market counterpart which has declined by 2.97%.
For the week ending July 26, 2024, overall market activity resulted from trading in 123 stocks of which 61 advanced, 45 declined and 17 traded firm. Market volume amounted to 99,359,863 units valued at over $364,183,498.90. Palace Amusement Limited was the volume leader with 11,678,563 units (11.66%), followed by Wigton Windfarm Limited with 11,478,472 units (11.46%), and by TransJamaican Highway Limited 10,334,149 units (10.32%).
Revisiting relevant news during the week:AS Bryden buys stake in CPJ
Tropical battery readies for crossover
Tropical Battery Company Limited is now positioning to cross over to the Main Market of Jamaica Stock Exchange (JSE) as the company continues to witness robust growth and looks to unlock greater opportunities in the coming years.AS Bryden buys stake in CPJ.
Tropical battery readies for crossover
One CAB!
After reporting their best year on record in 2023, Caribbean Assurance Brokers Limited (CAB) will be expanding through several new lines of business to be enhanced by several new key executives.
One CAB!
‘We can’t drain these resources’
Finance Minister Nigel Clarke said the Government will not be exhausting the funds it has for disaster risk financing to pay for recovery following the passage of Hurricane Beryl. Clarke said only $5 billion will be withdrawn from local funds and no loans will be taken.
‘We can’t drain these resources’
Sygnus Real Estate Finance Limited (SRF) has bagged a $200 million gain on the sale of 1.2 acres on Lady Musgrave Road that was sold for US$4.5 million or $697.99 million.
Sygnus Real Estate snags gain on Lady Musgrave sale
Debt delinquencies rise
More Jamaicans are falling behind on their regular monthly loan payments, but the situation is not at this time causing a worry for either the lending institutions or the central bank.
Debt delinquencies rise
Iron Insurance Company Limited was admitted back to trading on Jamaica Stock Exchange (JSE) Tuesday, following the submission of its financial statements.
IronRock suspension lifted
Bank of Jamaica Governor Richard Byles has sent a clear message to the market that it should not look to see interest rates falling to anywhere near its pre-pandemic historic low of 0.5 per cent anytime soon, citing inflation staying higher for longer than anticipated as the reason.
Rates cuts on horizon, but how low will they go?
| Unit Trust Fund | 24/07/2024 | 17/07/2024 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 74.86 | 75.04 | -0.24% | -7.05% | -2.46% | - |
| Money Market | 16.7689 | 16.7498 | 0.11% | 2.93% | 5.14% | 5.52% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 6.14% |
| FX Bond Portfolio (US$) | 1.4674 | 1.4835 | -1.09% | 3.06% | 6.82% | 5.03% |
| Real Estate Portfolio | 16,238.05 | 16,251.45 | -0.08% | 28.99% | 28.01% | - |
| FX Growth Portfolio | 1.0827 | 1.1212 | -3.43% | 13.59% | 20.55% | - |
| FX Income Accumulator | 1.0226 | 1.0228 | -0.02% | 0.75% | 2.17% | 3.54% |
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