Local Equities Market
For the week ended April 14, 2022, the local stock market decreased week-over-week. The JSE Combined Index decreased by 0.45%, the Main Market Index decreased by 0.63%, the JSE Junior Market Index advanced by 1.27%, and the JSE USD Equities Index decreased by 1.96%. During the week, Mayberry Jamaican Equities was the biggest gainer, gaining 30.95% to close at $12.44. The biggest decliner was Ciboney Group, which declined by 12.16% to close at $0.66.
Year to Date, with the ongoing rebound in the local economy, small-cap stocks, reflecting those listed on the Junior Market Index have continued the strong performance seen in 2021, growing by 24.06% YTD, outpacing its Main Market counterpart (0.42% YTD) by a wide margin.
For the week ended Friday, April 14, 2022, Overall Market activity resulted from trading in 111 stocks of which 48 advanced, 41 declined and 22 traded firm. The JA$ Market Volume (excluding blocks) amounted to 25,111,536 units valued at $178,419,958.94. The US$ Market Volume (excluding blocks) amounted to 4,110,461 units valued at $49,816.43.4. The volume leaders for the week Were TransJamaican Highway Limited with 5,846,940 units (20.01%) followed by TransJamaaican Highway Limited (USD) with 4,075,625 units (13.95%) and Wigton Windfarm Limited Ordinary Shares with 2,703,662 units (9.25%).
Revisiting relevant news during the week:
Food and logistics company Jamaica Producers Group, JP, has pumped nearly $1 billion into investments since the COVID-19 pandemic, with healthy returns to show for it already, its 2021 audited financials show. These investments have generated a return of nearly 30 per cent based on after-tax profit, but as high as 40 per cent when total comprehensive income is considered.
JP makes gains on $1b pandemic investments
GraceKennedy Group has struck an agreement with Larren Peart to take a stake in his data analytics company, Bluedot.
GK acquires stake in data firm Bluedot
The Economic Programme Oversight Committee (EPOC) holds a cautious outlook on the Jamaican economy, because of external factors disrupting global trade and growth.
EPOC cautious, cites various risks to the economy
A slew of management changes disclosed to the market this week by listed investment, wealth and funds management company, Barita Investments Limited, are meant to deepen the management team to better reflect the company’s governance, controls and risk management focus, as its funding and operations continue to grow, company officials say.
Barita tightens operations with management shake-up
Pulse Investments shareholders passed a resolution on Tuesday to increase the company’s authorised share capital to up to 20 billion units, paving the way for the entertainment company to pursue an additional public offer, APO, or otherwise raise funds via a rights issue. Shareholders also gave the nod to Pulse for the buy-back of its own shares, an initiative Chairman Kingsley Cooper said is not included in the company’s short-term plan.
Pulse sets stage for another equity raise, share buy- backs
Tesla CEO Elon Musk is offering to buy Twitter, saying the social media platform he has criticized for not living up to free speech principles needs to be transformed into a private company.
Tesla CEO Elon Musk offers to buy Twitter for $43 billion
| Unit Trust Fund | 14/04/2022 | 06/04/2022 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 97.62 | 96.66 | 0.99% | 6.16% | 11.24% | - |
| Money Market | 15.257 | 15.248 | 0.06% | 0.21% | 2.21% | 0.81% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 3.17% |
| FX Bond Portfolio (US$) | 1.3582 | 1.3584 | -0.01% | -1.46% | 0.85% | 2.99% |
| Real Estate Portfolio | 5,536.97 | 5,573.98 | -0.66% | 4.46% | -8.01% | - |
| FX Growth Portfolio | 0.9800 | 0.9981 | -1.81% | 9.43 | -3.93% | - |
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