Local Equities Market
For the week ending August 9, 2024, the local stock market, measured by the Combined Index, declined by 0.75%. The Main Market Index declined by 0.80%, the Junior Market Index declined by 2.87%, and the JSE USD Equities Index decreased by 2.48%. During the week, During the week, A.S. Bryden & Sons Holdings Limited was the largest gainer, rising by approximately 25.26% to close at $38.98. Margaritaville (Turks) Limited was the biggest decliner, which fell by 19.74% to close at $11.95.
Small-cap stocks, reflecting those listed on the Junior Market Index are underperforming on a YTD basis, decreasing by 5.71%, relative to its Main Market counterpart which has declined by 4.83%.
For the week ending August 9, 2024, overall market activity resulted from trading in 121 stocks of which 36 advanced, 72 declined and 13 traded firm. Market volume amounted to 75,491,256 units valued at over $210,943,338.66. Omni Industries Limited was the volume leader with12,311,575 units (15.99%), followed by Wigton Windfarm Limited with 8,278,155 units (10.75%), and by One on One Educational Services Limited with 7,516,450 units (9.76%).
Revisiting relevant news during the week:
TROPICAL BATTERY EYEING US LISTING
Tropical Battery Company Limited has set its sights on listing shares on the New York-based National Association of Securities Dealers Automated Quotations (Nasdaq) stock market before the end of this decade and has indicated that its planned graduation to the main market of the Jamaica Stock Exchange (JSE) later this year is a first step to achieving that goal
TROPICAL BATTERY EYEING US LISTING
NCB mulls another APO
Despite the company’s additional public offering (APO) coming up short, NCB Financial Group Limited (NCBFG) would consider taking another swing at the equity markets if market conditions were to significantly improve over the next year.
NCB mulls another APO
Dolla Financial considers separating Ultra Financier
Microlender Dolla Financial is considering stripping itself of subsidiary Ultra Financier, in a move aimed at preparing the luxury loan business to raise its own capital.
Dolla Financial considers separating Ultra Financier
Golden Turmeric Latte perks up revenues for Salada
Strong sales for its new Golden Turmeric Latte product has resulted in a 46 per cent jump in revenues for coffee processing company Salada Foods Jamaica Limited during the third quarter of its current financial year, the period from April 1 to June 30, 2024.
Golden Turmeric Latte perks up revenues for Salada
LASCO Financial Services expands remittance reach with new Remitly partnership
In keeping with commitments made to shareholders to curb profit erosion, financial outfit Lasco Financial Services (LSFL) struck a new deal with Remitly Money Transfer to improve market share for its remittance business.
LASCO Financial Services expands remittance reach with new
Cemex divesting Dom Rep operations
Cemex, SAB de CV is set to sell its Dominican Republic operations for US$950 million ($155.93 billion) to Cementos Progreso Holdings, S.L. and its strategic partners as the Mexican cement giant continues its divestment of emerging/non-core markets and reallocates capital to key markets in North America and Europe.
Cemex divesting Dom Rep operations
| Unit Trust Fund | 07/08/2024 | 02/08/2024 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 75.0299 | 76.05 | -1.34% | -6.84% | -0.15% | - |
| Money Market | 16.7811 | 16.7668 | 0.09% | 3.01% | 5.00% | 5.63% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 6.22% |
| FX Bond Portfolio (US$) | 1.4689 | 1.4692 | -0.02% | 3.17% | 6.43% | 5.01% |
| Real Estate Portfolio | 16,247.77 | 16,260.57 | -0.08% | 29.07% | 28.17% | - |
| FX Growth Portfolio | 1.0363 | 1.0649 | -2.69% | 8.72% | 16.92% | - |
| FX Income Accumulator | 1.0241 | 1.0243 | -0.02% | 0.89% | 1.91% | 3.48% |
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