Local Equities Market
For the week ending October 11, 2024, the local stock market, measured by the Combined Index, declined by 0.35%. The Main Market Index declined by 0.25%, the Junior Market Index decline by 1.39%, and the JSE USD Equities Index declined by 0.85%. During the week Elite Diagnostic Limited was the largest gainer, rising by approximately 28.74% to close at $2.24. Ttech Limited was the biggest decliner, which fell by 17.76% to close at $1.76.
Small-cap stocks, reflecting those listed on the Junior Market Index are outperforming on a YTD basis, decreasing by 3.18%, relative to its Main Market counterpart which has declined by 4.02%.
For the week ending October 11, 2024, overall market activity resulted from trading 122 stocks of which 49 advanced, 63 declined and 10 traded firm. 77,589,143 units valued at over $482,414,950.72. Future Energy Source Company Ltd Ordinary Shares with 16,164,670 Units (20.49%), followed by Transjamaican Highway Limited with 11,701,571 units (14.83%), and Stationery and Office Supplies Limited with 9,949,730 units (12.61%).
Revisiting relevant news during the week:
Unemployment drops to new low
Jamaica’s labour market showed notable improvements in the first quarter of 2024, with the unemployment rate dropping to a historic low of 4.2 per cent, down from 5.4 per cent in January, according to the latest data from the Statistical Institute of Jamaica (Statin). However, the report highlights continuing gender and youth challenges.
Unemployment drops to new low
Global shipping disruptions prompt strategic shifts
Global shipping routes have faced significant disruption in recent years, presenting both challenges and opportunities for Jamaica’s maritime sector. According to Rodrigo Olea, chief operating officer at Kingston Wharves, Jamaica is strategically positioned to capitalise on these changes as a major hub in the global shipping industry.
Global shipping disruptions prompt strategic shifts
FirstRock sets 2025 for Hambani
FirstRock Real Estate Investments Limited has got an extension on its loan from Sagicor Bank Jamaica to complete its Hambani Estates development in St Andrew that is now set to be delivered in early 2025.
FirstRock sets 2025 for Hambani
Paramount ups manufacturing focus
Chemical and lubricants supplier Paramount Trading Limited is now pushing to unlock greater value from manufacturing as the company moves to double down on growth in this area.
Paramount ups manufacturing focus
Expect improvements in cement delivery over coming week – Carib Cement
Caribbean Cement Company Limited says it has implemented further measures to enhance inventory inflows across its island- wide depots and customers can expect improvements in cement delivery over the coming week.
Expect improvements in cement delivery over coming week – Carib Cement
BOTTLED WATER QUALITY UNDER SCRUTINY
In a bid to ensure public safety, Dr Charah Watson, head of the Scientific Research Council (SRC), is urging bottled water producers and refill stations to maintain rigorous testing protocols.
BOTTLED WATER QUALITY UNDER SCRUTINY
| Unit Trust Fund | 10/10/2024 | 03/10/2024 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 76.22 | 77.39 | -1.51% | -5.36% | 1.94% | - |
| Money Market | 16.8943 | 16.8750 | 0.11% | 3.70% | 4.77% | 5.62% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 6.14% |
| FX Bond Portfolio (US$) | 1.4701 | 1.4707 | -0.04% | 3.25% | 5.16% | 4.95% |
| Real Estate Portfolio | 17,738.36 | 17,710.68 | 0.16% | 40.91% | 39.74% | - |
| FX Growth Portfolio | 1.1935 | 1.1797 | 1.17% | 40.03% | 40.03% | - |
| FX Income Accumulator | 1.0252 | 1.0266 | -0.14% | 1.00% | 2.63% | 3.23% |
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