Local Equities Market
For the week ended May 13, 2022, the local stock market increased week-over-week. The Main Market Index increased by 0.22%, the JSE Junior Market Index declined by 2.05%, and the JSE USD Equities Index improved by 1.73%. During the week, Mayberry Investments Limited was the biggest gainer, gaining 27.70% to close at $11.25. The biggest decliner was Jetcon Corporation Ventures Ltd, which declined by 21.11% to close at $1.42.
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 29.63% YTD, outpacing its Main Market counterpart 1.62% YTD by a wide margin.
For the week Overall Market activity resulted from trading in 118 stocks of which 45 advanced, 65 declined and 8 traded firm. Market volume amounted to 191,862,246 units valued at over $1,848,585,540.09.
The following companies represent the overall volume leaders:
- TransJamaican Highway Limited Shares with 3,518,067 units (14.11%)
- Spur Tree Spices Jamaica Limited with 1,911,588 units (7.67%)
- Derrimon Trading Company Limited with 1,591,652 units (6.38%)
Revisiting relevant news during the week:
Guardian Holding Limited (GHL) exited its reinsurance business at the end of 2021 following the US$10- million (TT$67.94-million) loss it incurred in the third quarter due to the floods in Germany.
Guardian Holdings exits reinsurance business
Following its listing on the Jamaica Stock Exchange (JSE) on January 14, Spur Tree Spices Jamaica Limited was able to grow its consolidated revenue by 41 per cent to $237.13 million and its consolidated net profit by 194 per cent from $17.30 million to $50.81 million for the first quarter ending March 31, 2022.
Spur Tree nearly triples first-quarter profit
Real Estate Development Company Stanley Motta Limited has broken ground for the construction of its expanded campus at 58 Half-Way-Tree Road (58 HWT) in St Andrew. The building, slated for completion in 2024, will be 126,000 square feet, with 44 parking spaces and over 10 floors. The building will house a lobby area with requisite restroom facilities, a café, four elevators, and a specially designed space to house a rooftop terrace entertainment area. Stanley Motta hunts tenants for 10 new floors of BPO space
Sagicor Group Jamaica Limited (SJ) achieved its highest first-quarter (January – March) earnings to date as its net profit attributable to shareholders grew by 31 per cent to $3.82 billion, a figure which exceeded the $2.70 billion recorded in Q1 2019.
Sagicor Group breaks $3.8 billion in Q1 profits
Despite the slow rebound in economic activity across the Caribbean, NCB Financial Group Limited (NCBFG) achieved its best second quarter (January – March) on record as its net profit attributable to shareholders rallied by 295 per cent to $7.79 billion. This performance, which not only exceeded the $5.89 billion in the first six months of 2021, but even higher than the $6.28 billion set in Q2 2018. NCB Financial hits record Q2 profit
NCB Financial hits record Q2 profit
| Unit Trust Fund | 12/05/2022 | 05/05/2022 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 104.01 | 103.89 | 0.12% | 13.11 | 12.26% | - |
| Money Market | 15.0853 | 15.1825 | -0.64% | -0.91% | 0.41% | 2.54% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 3.35% |
| FX Bond Portfolio (US$) | 1.3450 | 1.3484 | -0.25% | -2.41% | -0.69% | 2.69% |
| Real Estate Portfolio | 5,241.17 | 5,553.45 | -5.62% | -1.12% | -10.08% | - |
| FX Growth Portfolio | 0.8941 | 0.9588 | -6.75% | -17.37% | -9.64% | - |
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