Local Equities Market
For the week ended Friday, our local stock market increased week-over-week. The JSE Combined Index increased by 1.07%, the Main Market Index increased by 0.85%, the JSE All Jamaican Composite Index increased by 1.05%, the JSE Junior Market Index increased by 3.33%, while the JSE USD Equities Index decreased by 1.05%.
During the week SSK Venture Capital JA. Ltd. was the largest gainer, rising by approximately 42.22% to close at J$1.28. The biggest loser was Consolidated Bakeries J.A. which fell by 21.71% to close at J$1.01.
Year to Date, The Junior Market Index (4.59% YTD) and the Main Market counterpart (-0.004% YTD)
As of Friday January 21, 2021, Overall Market activity resulted from trading in 112 stocks of which 55 advanced, 40 declined and 17 traded firm. Market volume amounted to 178,385,500 units valued at over $1,059,632,142.73. Express Catering Limited was the volume leader with 24,646,138 units (13.82%) followed by Wigton Windfarm Limited Ordinary shares with 13,485,713 units (7.56%) and Future Energy Source Company Ltd Ordinary Shares with 8,414,607 units (4.72%) . Revisiting relevant news during the week:
AS it gears up for its debut on the Jamaica Stock Exchange (JSE) this Thursday, Massy Holdings has pointed out how the Jamaican equity market will serve to fuel its growth ambitions over the next five years.
Massy plots regional expansion
SYGNUS Real Estate Finance (SRF), the specialty real estate investment company of the Sygnus Group, chalked up a loss of $99.95 million during its first quarter (Q1 2022) as a publicly traded company.
Massy listing this month
The Development Finance Institute Canada (DFIC) Inc, operating under the FinDev Canada brand, recently announced a US$20- million loan to JMMB Bank (Jamaica) Limited.The loan is intended to support Jamaica’s small and medium-sized enterprises (SMEs) seeking capital to assist them in the creation and retention of jobs and to scale their businesses.
JMMB increasing funding for SMEs
Derrimon Trading Company Limited continues its aggressive acquisition programme into 2022 gobbling up full ownership of Spicy Hill Farms, which was started several years ago by the late veteran politician Brascoe Lee.nThe effective takeover date of the business was January 10, 2022. The transaction cost was not disclosed.
Derrimon Trading buys Spicy Hill Farms
DESPITE going another quarter without revenue, there appears to be brighter days ahead for Margaritaville (Turks) Limited (MTL) as cruise ships return to Grand Turk Cruise Port in the Turks & Caicos Islands. MTL operates a bar and restaurant at the port, catering to the variety of cruise passengers who stop on the itinerary of cruise lines in the nothern Caribbean. Since the advent of COVID-19 in March 2020, the port had been closed due to the risk arising from the cruise industry. As a result, MTL recorded a net loss of US$1.38 million ($214.24 million) for its 2021 financial year (FY) ending May 31, 2021. This was also reflected in the company’s stock price which dropped 63 per cent to $16 in 2021.
Open again Cruise ships return to Turks
| Unit Trust Fund | 06/01/2022 | 22/12/2021 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 89.42 | 89.39 | 0.03% | -2.75% | 5.12% | - |
| Money Market | 15.1753 | 15.1678 | 0.05% | -0.32% | 2.10% | 0.88% |
| Income Portfolio | 100.00 | 100.00 | 0.00% | - | - | 2.81% |
| FX Bond Portfolio (US$) | 1.3716 | 1.3729 | -0.09% | -0.48% | 1.48% | 2.86% |
| Real Estate Portfolio | 5,164.53 | 5,360.75 | -3.66% | -2.57% | -4.42% | - |
| FX Growth Portfolio | 1.0399 | 1.0796 | -3.68% | -3.90% | 2.16% | - |
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