Local Equities Market
For the week ended April 14, 2023, the local stock market as measured by the Combined Index advanced by 1.02%. The Main Market Index advanced by 1.23%, the JSE Junior Market Index declined by 0.90%, and the JSE USD Equities Index increased by 7.76%. During the week, TransJamaican Highway Limited (USD) was the largest gainer, rising by approximately 22.77% to close at US$0.01. •The biggest decliner was Portland JSX Limited, which fell by 15.08% to close at $9.80.
Small-cap stocks, reflecting those listed on the Junior Market Index have slightly underperformed on a YTD basis, declining by 8.04%, relative to its Main Market counterpart which has declined by 5.74%.
For the week ended April 14, 2023, overall market activity resulted from trading in 121 stocks of which 55 advanced, 53 declined and 13 traded firm. Market volume amounted to 93,104,189 units valued at over $308,147,525.61. Transjamaican Highway Limited was the volume leader with 17,275,961 units (16.06%), followed by Transjamaican Highway Limited (USD) with 13,732,690 units (12.77%) and then Wigton Windfarm with 11,020,762 units (10.24%).
Revisiting relevant news during the week:
AGM optimistic despite challenges
Despite cost challenges and continued paper shortage, the management of AMG Packaging and Paper Company said it remains optimistic about driving growth and improving its business. For the six months ended February, revenues the company grew marginally to total $500.8 million 2.9 per cent above the prior year period.
AMG optimistic despite challenges
JFP happy but not satisfied
With a number of projects lined up this year, commercial furniture manufacturer JFP, formerly Jamaica Fibreglass Products Limited, said it is looking to secure an even better financial performance this year as it retools and looks to enter more markets.
JFP happy but not satisfied
Express Catering quarterly revenue soars to record height
Restaurant management group Express Catering Limited (ECL) has hit record-level revenue and net profit due to continued recovery of the tourism sector and expansion of the company’s portfolio.
Express Catering quarterly revenue soars to record height
Eppley consumer finance subsidiary formed amid assets repricing
Eppley Limited has formed a new consumer finance subsidiary as it continues to grow its proprietary portfolio and asset management platform.
Eppley consumer finance subsidiary formed amid assets repricing
Sale approval for Mystic Mountain expected soon
A meeting in the Supreme Court next week is expected to see approval secured for a purchaser for Mystic Mountain Limited, MML, the Jamaican attraction which has been placed in bankruptcy, and for which the courts have appointed officials to restore creditors under local insolvency laws.
Sale approval for Mystic Mountain expected soon
IMF: Prolonged high inflation dims outlook for world economy
THE outlook for the world economy this year has dimmed in the face of chronically high inflation, rising interest rates and uncertainties resulting from the collapse of two big American banks. The IMF now envisions growth this year of 2.8 per cent, down from 3.4 per cent in 2022 and from the 2.9 per cent estimate for 2023 it made in its previous forecast in January. IMF:
Prolonged high inflation dims outlook for world economy
| Unit Trust Fund | 13/04/2023 | 05/04/2023 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 80.22 | 80.32 | -0.13% | -16.28% | -17.83% | - |
| Money Market | 15.6345 | 15.6195 | 0.10% | 0.64% | 2.48% | 4.79% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 5.40% |
| FX Bond Portfolio (US$) | 1.3610 | 1.3599 | 0.08% | 1.50% | 0.21% | 4.75% |
| Real Estate Portfolio | 12,166.92 | 12,175.22 | -0.07% | 53.30% | 2097.40% | - |
| FX Growth Portfolio | 0.88 | 0.8789 | 0.09% | 3.84% | -10.40% | - |
| FX Income Accumulator | 1.01 | 1.01 | -0.05% | 0.82% | - | 0.63% |
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