Local Equities Market
For the week ending September 13, 2024, the local stock market, measured by the Combined Index, improved by 0.21%. The Main Market Index improved by 0.31%, the Junior Market Index declined by 0.92%, and the JSE USD Equities Index declined by 0.52%. During the week, Margaritaville (Turks) Limited USD was the largest gainer, rising by approximately 25% to close at US$0.10. MPC Caribbean Clean Energy Limited USD was the biggest decliner, which fell by 21.13% to close at US$0.56.
Small-cap stocks, reflecting those listed on the Junior Market Index are outperforming on a YTD basis, decreasing by 5.69%, relative to its Main Market counterpart which has declined by 6.22%.
For the week ending September 13, 2024, overall market activity resulted from trading in 122 stocks of which 48 advanced, 61 declined and 13 traded firm. Market volume amounted to 304,182,093 units valued at over $5,129,620,279.61. Wisynco Group Ltd with 188,845,794 units (61.78%), followed by Indies Pharma Jamaica Limited with 16,639,098 units (5.44%),and by Eppley Caribbean Property Fund Limited with 16,319,423 units (5.34%).
Revisiting relevant news during the week:
Derrimon to refresh operations of US supermarkets
Outside of a name change already set to take effect, Derrimon Trading Limited (DTL) is positioning to lead a complete refreshing of operations for its two US stores when they reopen next month.
Derrimon to refresh operations of US supermarkets
Bank fees rising again
Less than three months after other banks raised their fees, consumers are set to pay more to use the services of First Global Bank Limited (FGB) and VM Building Society (VMBS), which are set to raise fees in the coming weeks.
Bank fees rising again
SCOTIA WOOS APPLE PAY
Jamaicans will gain access to Apple Pay in 2025 when the Bank of Nova Scotia Jamaica (BNSJ) becomes the first local bank to partner with the US$3 trillion giant.
SCOTIA WOOS APPLE PAY
Indies Pharma gets FDA approval on new drug
Indies Pharma Jamaica Limited has made history as it became the first Jamaican company to get an ANDA (Abbreviated New Drug Application) approved by the United States Food and Drug Administration (FDA), which has unlocked a new US$400-million market for the company.
Indies Pharma gets FDA approval on new drug
Lumber Depot profit dips 14 per cent in challenging first quarter
Already navigating a challenging business environment, the first quarter period for Lumber Depot was further worsened by disruption to construction activities as a result of Hurricane Beryl which saw the company realising reduced net profits at the end of the period ended July 30, 2024.
Lumber Depot profit dips 14 per cent in challenging first quarter
JAS president Fulton expects major setback for agriculture from Beryl impacts
With agriculture being one of the areas badly affected by the effects of Hurricane Beryl, former president of Jamaica Agricultural Society (JAS) Lenworth Fulton has predicted that output from the sector at the end of the current July-September quarter could fall by as much as 10 per cent.
JAS president Fulton expects major setback for agriculture from Beryl impacts
| Unit Trust Fund | 12/09/2024 | 04/09/2024 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 75.01 | 74.66 | 0.48% | -6.86% | 3.39% | - |
| Money Market | 16.8625 | 16.8426 | 0.12% | 3.51% | 4.89% | 5.68% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 6.23% |
| FX Bond Portfolio (US$) | 1.4571 | 1.4574 | -0.02% | 2.33% | 4.10% | 5.00% |
| Real Estate Portfolio | 16,304.51 | 16,304.70 | 0.00% | 29.52% | 28.89% | - |
| FX Growth Portfolio | 1.1014 | 1.0912 | 0.93% | 15.55% | 24.26% | - |
| FX Income Accumulator | 1.0254 | 1.0257 | -0.03% | 1.02% | 1.95% | 3.30% |
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