Local Equities Market
For the week ended Friday, the local stock market declined week-over-week. The JSE Combined Index decreased by 0.44%, the Main Market Index declined by 0.97%, the JSE Junior Market Index grew by 5.17%, and the JSE USD Equities Index advanced by 0.34%. During the week, Future Energy Source Limited was the largest gainer, rising by approximately 57.77% to close at J$7.92. The biggest decliner was Caribbean Assurance Brokers Ltd. which fell by 28.88% to close at J$2.29.
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 21.58% YTD, outpacing its Main Market counterpart(-2.21)% YTD) by a wide margin.
For the week ended Friday March 4, 2022, Overall Market activity resulted from trading in 114 stocks of which 49 advanced, 59 declined and 6 traded firm. Market volume amounted to 223,357,333 units valued at over $2,400,580,546.24. Carreras Limited was the volume leader with 63,232,948 units (28.31%) followed by Future Energy Source Company Ltd Ordinary Shares with 55,941,707 units (25.05%) and Wigton Windfarm Limited Ordinary Shares with 16,722,176 units (7.49%) .
Revisiting relevant news during the week:
STATIONERY and Office Supplies Limited (SOS) has seen a recovery in its earnings from a slowdown in 2020, with a 16 per cent jump in revenues to $1.12 billion and a 224 per cent rise in net profit to $107.12 million for its 2021 financial year (FY) ending December 31.
SOS recovers
DESPITE having to navigate the hostile operating environment, Derrimon Trading Limited (DTL) said it continues to deliver consistent growth as it also increases value for shareholders.
SYGNUS Credit Investments (SCI) says it has now completed the acquisition of Puerto Rico-based Acrecent Financial and is now turning to integrate the entity into its operations.
Sygnus completes Acrecent acquisition
GRACEKENNEDY has indicated that it has “several transactions in the pipeline” as it seeks to continue its recent aggressive acquisition strategy.
GraceKennedy eyes more acquisitions
FOLLOWING a downturn in business in 2020 caused by the ongoing novel coronavirus pandemic, Kingston Wharves reports a strong turnaround in the financial year which ended December 31, 2021.
CARIB Cement says it remains “encouraged by the potential for a good performance in 2022”, despite citing that issues such as the continuation of the novel coronavirus pandemic, inflation and sustainability of the Jamaican market could derail its outlook.
Carib Cement expects strong 2022
THE International Monetary Fund (IMF) and the World Bank Group have indicated that disbursement of emergency funding requested by the Ukraine could start as early as this week.
| Unit Trust Fund | 03/03/2022 | 26/02/2022 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 93.21 | 92.19 | 1.10% | 0.26% | 6.51% | - |
| Money Market | 15.3418 | 15.3162 | 0.17% | 0.60% | 2.53% | 0.86% |
| Income Portfolio | 100.00 | 100.00 | 0.00% | - | - | 3.15% |
| FX Bond Portfolio (US$) | 1.3677 | 1.3592 | 0.63% | -1.39% | 0.67% | 2.97% |
| Real Estate Portfolio | 5,518.74 | 5,507.02 | 0.21% | 3.89% | -9.07% | - |
| FX Growth Portfolio | 0.9754 | 1.0022 | -2.67% | -7.38% | 2.68% | - |
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