Local Equities Market
For the week ended Friday March 25, 2022, the local stock market advanced week-over-week. The JSE Combined Index advanced by 0.80%, the Main Market Index rose by 0.50%, the JSE Junior Market Index increased by 3.79%, and the JSE USD Equities Index advanced by 0.23%. During the week, Jetcon was the biggest gainer, gaining 31.76% to close at $1.12. The biggest decliner was JFP Limited, which declined by 22.88% to close at $1.18.
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 12.68% YTD, outpacing its Main Market counterpart(-2.50% YTD) by a wide margin.
For the week ended Friday March 25, 2022, Overall Market activity resulted from trading in 117 stocks of which 59 advanced, 45 declined and 13 traded firm. Market volume amounted to 526,306,247 units valued at over $3,581,325,069.38. SAGICOR REAL ESTATE X FUND LTD was the volume leader with 192,044,059 units (43.21%) followed by WIGTON WINDFARM LIMITED with 67,579,998 units (15.20%) and EDUFOCAL LIMITED with 51,767,703 units (11.65%).
Revisiting relevant news during the week:
Following the publication of the Financial Services Commission’s (FSC’s) second paper on the proposed amendments to the ‘Guidelines for Issuers of Securities’, various brokers have demanded greater open dialogue as they believe some of the amendments will threaten the growth of the capital markets including the future public listing of companies.
A ‘stupid FSC rule’
THE Jamaica Stock Exchange (JSE) and the Jamaica Manufacturers and Exporters Association (JMEA) have signed a memorandum of understanding (MOU) that will benefit the small and medium-sized enterprises (SMEs) sector, and the Jamaican economy overall.
More SME listings expected
The way is now clear for Micro-Financing Solutions Limited to purchase SSL Venture Capital, which has been insolvent for the past year and has been struggling to maintain profitability. The board of SSL Venture Capital approved the sale at its meeting on Friday, paving the way for Micro-Financing Solutions to take control having first made a takeover bid offer to purchase 100 per cent of SSL Venture Capital on January 17 for $0.0948 per share.
Yes to Micro-Financing Solutions bid.
Sagicor Financial Company Limited (SFC) will be launching a fully digital commercial bank come this June/July through an entity called Sagicor Bank (Barbados) Limited (SBB).
Sagicor launching neobank.
The St Thomas leg of the Southern Coastal Highway has landed a major investor in FirstRock Capital Holdings, which will be developing a multimillion- dollar real estate project west of the parish capital of Morant Bay.
St Thomas Highway spurs big investor.
Sagicor Group President and CEO Christopher Zacca says that the acquisition of Alliance Financial Services Limited (AFSL), once completed, will help the group to dominate the financial market.
Sagicor eyes market domination.
| Unit Trust Fund | 23/03/2022 | 16/03/2022 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 92.49 | 92.43 | 0.07% | 0.58% | 5.89% | - |
| Money Market | 15.1639 | 15.1581 | 0.04% | -0.40% | 1.72% | 0.89% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 3.15% |
| FX Bond Portfolio (US$) | 1.3546 | 1.3540 | 0.04% | -1.72% | 0.51% | 3.00% |
| Real Estate Portfolio | 5,552.84 | 5,555.48 | -0.05% | 4.76% | -8.09% | - |
| FX Growth Portfolio | 1.0111 | 0.9929 | 1.83% | -6.56% | 1.11% | - |
Full Newsletter & Report
