Local Equities Market
For the week ended Friday, the local stock market declined week-over-week. The JSE Combined Index decreased by 0.22%, the Main Market Index declined by 0.91%, the JSE Junior Market Index grew by 7.84%, and the JSE USD Equities Index advanced by 1.48%. During the week, Margaritaville (Turks) Limited was the largest gainer, rising by approximately 33.08% to close at J$24.62. The biggest decliner was Portland JSX Limited which fell by 22.16% to close at J$7.06.
Year to Date, with the ongoing rebound in the local economy, small-cap stocks, reflecting those listed on the Junior Market Index have continued the strong performance seen in 2021, growing by +16.26% YTD, outpacing its Main Market counterpart (0.16% YTD) by a wide margin.
For the week ended Friday February 4, 2022, Overall Market activity resulted from trading in 61 stocks of which 34 advanced, 22 declined and 5 traded firm. Market volume amounted to 69,155,047 units valued at over $774,799,366.49. WIGTON WINDFARM LIMITED ORDINARY SHARES was the volume leader with 14,969,218 units (21.65%) followed by TRANSJAMAICAN HIGHWAY LIMITED with 12,150,094 units (17.57%) and SAGICOR SELECT FUNDS LIMITED – FINANCIAL with 7,706,246 units (11.14%) .
Revisiting relevant news during the week:
DESPITE being separated by the Caribbean sea and having different regional bodies, various speakers at the Jamaica Stock Exchange’s (JSE) 17th Regional Investments and Capital Markets Conference believe that regional integration is more of a possibility, thanks to technology, and a necessary move as the region faces more threats from climate change.
Companies tout regional integration
Massy’s listing enhances the potential for accelerating the build out of “a more regional capital market … one that is far more intertwined and, consequently, more robust and beneficial to companies throughout the region”.
JSE should head to Guyana
NCB Financial Group, the regional conglomerate based in Jamaica, made billions in its first quarter spanning October to December, but has again avoided paying dividends, its earnings having fallen short of prior periods.
NCB Dividend Hiatus
Following its cross-listing on the Jamaica Stock Exchange (JSE) last Thursday, Massy Holdings Limited’s president and CEO Elliott Gervase Warner expressed resounding confidence in Jamaica and the Government’s plan to improve the ease of doing business through public sector transformation, at the JSE’s 17th Regional Investments and Capital Markets Conference.
Massy bullish on Jamaica
Some local financial institutions, which have a different structure from the island’s commercial banks, are seizing the opportunity offered by the current debate on higher banking fees to emphasise their difference.
VM targets banks’ customers
EVEN as Sygnus Credit Investments Limited (SCI) nears its fifth anniversary of operations, the company has set more ambitious targets once the acquisition of Acrecent Financial Corporation (AFC) is closed within the next one to two months, having already amassed a private credit portfolio of US$100 million.
Sygnus credit sets bold five-year plan
| Unit Trust Fund | 02/02/2022 | 26/02/2022 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 92.8613 | 91.6940 | 1.27% | 7.70% | 0.99% | - |
| Money Market | 15.2180 | 15.2529 | -0.23% | 2.21% | -0.04% | 0.88% |
| Income Portfolio | 100.00 | 100.00 | 0.00% | - | - | 3.07% |
| FX Bond Portfolio (US$) | 1.3756 | 1.3712 | 0.32% | 1.56% | -0.20% | 2.86% |
| Real Estate Portfolio | 5225.9678 | 5,182.9993 | 0.83% | 0.20% | -1.41% | - |
| FX Growth Portfolio | 1.0469 | 1.0147 | 3.17% | 3.17% | -3.25% | - |
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